85 FR 158 pg. 49595 - Base Erosion and Anti-Abuse Tax; Correcting Amendment
Type: RULEVolume: 85Number: 158Page: 49595
Page: 49595Docket number: [TD 9885]
FR document: [FR Doc. 2020-16383 Filed 8-13-20; 8:45 am]
Agency: Treasury Department
Sub Agency: Internal Revenue Service
Official PDF Version: PDF Version
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 1
[TD 9885]
RIN 1545-BO56
Base Erosion and Anti-Abuse Tax; Correcting Amendment
AGENCY:
Internal Revenue Service (IRS), Treasury.
ACTION:
Correcting amendments.
SUMMARY:
This document contains corrections to final regulations (TD 9885) that were published in the Federal Register on Friday, December 6, 2019. The final regulations implementing the base erosion and anti-abuse tax, designed to prevent the reduction of tax liability by certain large corporate taxpayers through certain payments made to foreign related parties and certain tax credits.
DATES:
Effective date: The final regulations are effective on August 14, 2020.
Applicability date: December 6, 2019.
FOR FURTHER INFORMATION CONTACT:
Sarah Hoyt at (202) 317-6848 or Julie Wang at (202) 317-6975 (not a toll-free number).
SUPPLEMENTARY INFORMATION:
Background
The final regulations (TD 9885) that are the subject of this correction are issued under §?1.1.502-59A of the Internal Revenue Code.
Need for Correction
As published, December 6, 2019 (84 FR 66968) the final regulations (TD 9885; FR DOC. 2019-25744) contains an error that needs to be corrected.
List of Subjects in 26 CFR Part 1
Income taxes, Reporting and recordkeeping requirements.
Correction of Publication
Accordingly, 26 CFR part 1 is corrected by making the following correcting amendments:
PART 1-INCOME TAXES
Paragraph 1. The authority citation for part 1 continues to read in part as follows:
Authority:
26 U.S.C. 7805 * * *
§?1.1.502-59A [Transferred]
Par. 2. Section 1.1502-59A is amended by transferring the section underneath the undesignated heading "Special Taxes and Taxpayers" and following §?1.1502-55.
Martin V. Franks,
Chief, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel (Procedure and Administration).
[FR Doc. 2020-16383 Filed 8-13-20; 8:45 am]
BILLING CODE 4830-01-P