Announcement 2006-26

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Internal Revenue Bulletin:

2006-18 May 1, 2006

Announcement 2006-26

Time and Manner of Making Section 163(d)(4)(B) Election to Treat Qualified Dividend Income as Investment Income; Correction

AGENCY:

Internal Revenue Service (IRS), Treasury.

ACTION:

Final regulations and removal of temporary regulations.

SUMMARY:

This document contains a correction to temporary regulations (T.D. 9191, 2005-15 I.R.B. 854) that was published in the Federal Register on Friday, March 18, 2005 (70 FR 13100) relating to the time and manner of making section 163(d)(4)(B) election to treat qualified dividend income as investment income.

DATES:

This correction is effective March 18, 2005.

FOR FURTHER INFORMATION CONTACT:

Amy Pfalzgraf, (202) 622-4950 (not a toll-free number).

SUPPLEMENTARY INFORMATION:

Background

The final regulation (T.D. 9191) that is the subject of this correction is under section 163 of the Internal Revenue Code.

Need for Correction

As published, T.D. 9191, contains an error that may prove to be misleading and is in need of clarification.

* * * * *

Correction of Publication

Accordingly, 26 CFR Part 1 is corrected by making the following correcting amendment:

PART 1—INCOME TAXES

Paragraph 1. The authority citation for part 1 continues to read as follows:

Authority: 26 USC 7805 * * *

§1.163(d)-1T [Removed]

Section 1.163(d)-1T is removed.

Guy R. Traynor,
Chief, Publications & Regulations Branch,
Legal Processing Division,
Associate Chief Counsel
(Procedure & Administration).

Note

(Filed by the Office of the Federal Register on April 11, 2006, 8:45 a.m., and published in the issue of the Federal Register for April 12, 2006, 71 F.R. 18623)