Rules and Regulations. Correcting amendments
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/register/2020/08/14/2020-16383A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
BILLING CODE 3410-05-P 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]
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- 26 CFR 1
- T.D. 9885
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