Announcement 2008-74
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Internal Revenue Bulletin:
2008-33
August 18, 2008
Announcement 2008-74
Source Rules Involving U.S. Possessions and Other Conforming Changes; Correction
Contents |
AGENCY:
Internal Revenue Service (IRS), Treasury.
ACTION:
Correcting amendment.
SUMMARY:
This document contains a correction to final regulations (T.D. 9391, 2008-20 I.R.B. 945) that were published in the Federal Register on Wednesday, April 9, 2008 (73 FR 19350) providing rules under section 937(b) of the Internal Revenue Code for determining whether income is derived from sources within a U.S. possession or territory specified in section 937(a)(1) (generally referred to in this preamble as a “territory”) and whether income is effectively connected with the conduct of a trade or business within a territory.
DATES:
This correction is effective July 18, 2008, and is applicable on April 9, 2008.
FOR FURTHER INFORMATION CONTACT:
J. David Varley, (202) 622-7790 (not a toll-free number).
SUPPLEMENTARY INFORMATION:
Background
The final regulations and removal of temporary regulations that are the subjects of this document are under sections 1, 170A, 861, 871, 876, 881, 884, 901, 931, 932, 933, 934, 935, 937, 957, 1402, 6012, 6038, 6046, 6688, and 7701 of the Internal Revenue Code.
Need for Correction
As published, final regulations (T.D. 9391) contain 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, in part, as follows:
Authority: 26 U.S.C. 7805 * * *
§1.881-5T [Removed]
Par. 2. Section 1.881-5T is removed.
LaNita Van Dyke,
Chief, Publications and Regulations
Branch,
Legal Processing Division,
Associate
Chief Counsel
(Procedure and Administration).
Note
(Filed by the Office of the Federal Register on July 17, 2008, 8:45 a.m., and published in the issue of the Federal Register for July 18, 2008, 73 F.R. 41259)
