Internal Revenue Bulletins  
Announcement 2006-15 March 13, 2006

Guidance Under Section 1502;
Application of Section 108 to Members
of a Consolidated Group; Correction


Internal Revenue Service (IRS), Treasury.


Correction to final regulations.


This document corrects final regulations, (T.D. 9192, 2005-15 I.R.B. 866) that were published in the Federal Register on Tuesday, March 22, 2005 (70 FR 14395), that govern the application of section 108 when a member of a consolidated group realizes discharge of indebtedness income.


This correction is effective on March 22, 2005.


Amber Cook, (202) 622-7530 (not a toll-free number).



The final regulations, temporary regulations, and removal of temporary regulations (T.D. 9192) that is the subject of this correction is under section 1502 of the Internal Revenue Code.

Need for Correction

As published, T.D. 9192 contains an error that may prove to be misleading and is in need of clarification.

Correction of Publication

Accordingly, the publication of the final regulations, temporary regulations, and removal of temporary regulations (T.D. 9192) that were the subject of FR Doc. 05-5528, are corrected as follows:


1. The authority citation for 26 CFR part 1 continues to read as follows:

Authority: 26 U.S.C. 7805, unless otherwise noted. Section 1.1502-11 also issued under 26 U.S.C. 1502.

Sec. 1.1502-11 [Corrected]

2. In Sec. 1.1502-11, paragraph (c)(5), Example 3, (ii)(E), remove the words “take into account its $80 of excluded COD.” and add in their place the words “take into account its $80 of excluded COD income.”.

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


(Filed by the Office of the Federal Register on April 15, 2005, 8:45 a.m., and published in the issue of the Federal Register for April 18, 2005, 70 F.R. 20049)

Internal Revenue Bulletin 2006-11


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