Tax Notes logo

Guidance Extends Relief Affecting Some Cfc Investments, Readily Marketable Securities.

JAN. 14, 2009

Notice 2009-10; 2009-5 I.R.B. 419

DATED JAN. 14, 2009
DOCUMENT ATTRIBUTES
  • Institutional Authors
    Internal Revenue Service
  • Cross-Reference
    For Notice 2008-91, 2008-43 I.R.B. 1001, see Doc 2008-22166 or

    2008 TNT 202-8.

    For Rev. Proc. 2008-26, 2008-21 I.R.B. 1014, see Doc 2008-10429 or

    2008 TNT 93-18.
  • Code Sections
  • Subject Areas/Tax Topics
  • Jurisdictions
  • Language
    English
  • Tax Analysts Document Number
    Doc 2009-811
  • Tax Analysts Electronic Citation
    2009 TNT 9-15
Citations: Notice 2009-10; 2009-5 I.R.B. 419
Treatment of Certain Obligations under Section 956(c)

Obsoleted by T.D. 9761

Part III -- Administrative, Procedural, and Miscellaneous

1. On October 27, 2008, the Treasury Department and the Internal Revenue Service (Service) published Notice 2008-91. See Notice 2008-91, 2008-43 I.R.B. 1001. This notice provides that the regulations described in Notice 2008-91 will apply (in addition to the period described in Notice 2008-91) to the third consecutive taxable year of a foreign corporation, if any, (including any short taxable year) that ends after October 3, 2008, and that ends on or before December 31, 2009.

2. On May 27, 2008, the Treasury Department and the Service published Rev. Proc. 2008-26, 2008-21 I.R.B. 1014, which applies to determine whether securities are "readily marketable" for purposes of section 956(c)(2)(J) for any day during calendar years 2007 or 2008, for which it is relevant whether securities are readily marketable for purposes of that section. This notice extends the application of Rev. Proc. 2008-26 to any day during calendar year 2009, for which it is relevant whether securities are readily marketable for purposes of section 956(c)(2)(J) (in addition to any day during calendar years 2007 or 2008).

DRAFTING INFORMATION

The principal author of this notice is Ethan A. Atticks of the Office of Associate Chief Counsel (International). For further information regarding this notice contact Mr. Atticks at (202) 622-3840 (not a toll free call).

DOCUMENT ATTRIBUTES
  • Institutional Authors
    Internal Revenue Service
  • Cross-Reference
    For Notice 2008-91, 2008-43 I.R.B. 1001, see Doc 2008-22166 or

    2008 TNT 202-8.

    For Rev. Proc. 2008-26, 2008-21 I.R.B. 1014, see Doc 2008-10429 or

    2008 TNT 93-18.
  • Code Sections
  • Subject Areas/Tax Topics
  • Jurisdictions
  • Language
    English
  • Tax Analysts Document Number
    Doc 2009-811
  • Tax Analysts Electronic Citation
    2009 TNT 9-15
Copy RID