Reduction of Foreign Tax Credit Limitation Categories Under Section 904(d); Correction

---
identifier: "/us/fr/E8-5683"
source: "fr"
legal_status: "authoritative_unofficial"
title: "Reduction of Foreign Tax Credit Limitation Categories Under Section 904(d); Correction"
title_number: 0
title_name: "Federal Register"
section_number: "E8-5683"
section_name: "Reduction of Foreign Tax Credit Limitation Categories Under Section 904(d); Correction"
positive_law: false
currency: "2008-03-21"
last_updated: "2008-03-21"
format_version: "1.1.0"
generator: "[email protected]"
agency: "Treasury Department"
document_number: "E8-5683"
document_type: "rule"
publication_date: "2008-03-21"
agencies:
  - "Treasury Department"
  - "Internal Revenue Service"
cfr_references:
  - "26 CFR Part 1"
rin: "1545-BG55"
fr_citation: "73 FR 15063"
fr_volume: 73
docket_ids:
  - "TD 9368"
effective_date: "2008-03-21"
fr_action: "Final and temporary regulations; correction."
---


#  Reduction of Foreign Tax Credit Limitation Categories Under Section 904(d); Correction

**AGENCY:**

Internal Revenue Service (IRS), Treasury.

**ACTION:**

Final and temporary regulations; correction.

**SUMMARY:**

This document contains corrections to final and temporary regulations (TD 9368) that were published in the *Federal Register* on  Friday, December 21, 2007 (72 FR 72582) regarding the reduction of the number of separate foreign tax credit limitation categories under section 904(d) of the Internal Revenue Code. These regulations affect taxpayers claiming foreign tax credits and provide guidance needed to comply with the statutory changes made by the American Jobs Creation Act of 2004 (AJCA).

**DATES:**

The correction is effective March 21, 2008.

**FOR FURTHER INFORMATION CONTACT:**

Jeffrey L. Parry, (202) 622-3850 (not a toll-free number).

**SUPPLEMENTARY INFORMATION:**

**Background**

The final and temporary regulations (TD 9368) that are the subject of the correction are under section 904 of the Internal Revenue Code.

**Need for Correction**

As published, final and temporary regulations (TD 9368) contain errors that may prove to be misleading and are in need of clarification.

**Correction of Publication**

Accordingly, the publication of the final and temporary regulations (TD 9368), which were the subject of FR Doc. E7-24782, is corrected as follows:

1. On page 72585, column 1, in the preamble, under the paragraph heading “V. Post-1986 Undistributed Earnings and Post-1986 Foreign Income Taxes of a Foreign Corporation as of the End of the Corporation's Last Pre-2007 Taxable Year”, second line of the first paragraph of the column, the language “described in section 959(c)(1)(A),” is corrected to read “described in section 959(c)(1) and (2),”.

2. On page 72586, column 3, in the preamble, under the paragraph heading “VI. Separate Limitation Losses and Overall Foreign Losses”, first line of the second paragraph of the column, the language “Section 1.904-12T(h)(4) provides that” is corrected to read “Section 1.904(f)-12T(h)(4) provides that”.

3. On page 72586, column 3, in the preamble, under the paragraph heading “VI. Separate Limitation Losses and Overall Foreign Losses”, first line of the third paragraph of the column, the language “Section 1.904-12T(h)(5) provides that” is corrected to read “Section 1.904(f)-12T(h)(5) provides that”.

4. On page 72586, column 3, in the preamble, under the paragraph heading “VI. Separate Limitation Losses and Overall Foreign Losses”, sixth line of the third paragraph of the column, the language “rules of § 1.904-12T(g)(1) and (2)” is corrected to read “rules of § 1.904(f)-12T(g)(1) and (2)”.

LaNita Van Dyke,

Chief, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel (Procedure and Administration).