Announcement 2005-52

Censure Issued by Consent
Under Title 31, Code of Federal Regulations, Part 10, in lieu of a proceeding
being instituted or continued, an attorney,
certified public accountant, enrolled agent,

or enrolled actuary, may offer his or her
consent to the issuance of a censure. Censure is a public reprimand.

The following individuals have consented to the issuance of a Censure:

Name

Address

Designation

Date of Censure

Borden Kathleen

Bluffton, SC

Attorney

May 11, 2005

Williamson, Debra

Long Beach, CA

CPA

June 3, 2005

FOR
FURTHER
INFORMATION
CONTACT: Laura Fields (202) 622–3050
(not a toll-free number).

Correction of Publication

Assumption of Partner
Liabilities; Correction
Announcement 2005–52
AGENCY: Internal Revenue Service
(IRS), Treasury.
ACTION: Correcting amendment.
SUMMARY: This document corrects final regulations (T.D. 9207, 2005–26 I.R.B.
1344) that were published in the Federal
Register on Thursday, May 26, 2005 (70
FR 30334). The final regulation relates
to the definition of liabilities under section
752 of the Internal Revenue Code.

SUPPLEMENTARY INFORMATION:

Accordingly, 26 CFR Part 1 is corrected by making the following correcting
amendment:

Background

PART 1 — INCOME TAXES

The final regulations (T.D. 9207) that
are the subject of this correction are under
sections 358, 704, 705, 737 and 752 of the
Internal Revenue Code.

Paragraph 1. The authority citation for
part 1 continues to read, in part, as follows:
Authority: 26 U.S.C. 7805 * * *
In §1.752–7(g)(5), paragraph (iii) of the
Example, the table is revised as follows:

Need for Correction
As published, T.D. 9207 contains an error that may prove to be misleading and is
in need of clarification.
*****

DATES: This correction is effective on
May 26, 2005.

2005–31 I.R.B.

257

§1.752–7 Partnership assumption of
partner’s §1.752–7 liability on or after
June 24, 2003.
*****
(g) * * *
(5) Examples (i) * * *
(iii) * * *

August 1, 2005

B’s Basis in Property 1 after Satisfaction of Liability (in millions)
1. Basis in Property 1 after distribution
2. Plus lesser of remaining built-in loss
or amount paid to satisfy
liability

$3
($2)
($1)

1

3. Basis in Property 1 after satisfaction
of liability
*****
Cynthia 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 July 8, 2005,
8:45 a.m., and published in the issue of the Federal Register
for July 11, 2005, 70 F.R. 39653)

Qualified Amended Returns;
Correction

$4
SUPPLEMENTARY INFORMATION:
Background
The temporary regulations (T.D. 9186)
that are the subject of these corrections are
under section 6227 of the Internal Revenue
Code.
Need for Correction
As published, T.D. 9186 contains errors
that may prove to be misleading and are in
need of clarification.
*****

Announcement 2005–53

Correction of Publication

AGENCY: Internal Revenue Service
(IRS), Treasury.

Accordingly, 26 CFR Part 1 is corrected by making the following correcting
amendments:

ACTION: Correcting amendment.
PART 1 — INCOME TAXES
SUMMARY: This document contains corrections to temporary regulations (T.D.
9186, 2005–13 I.R.B. 790) which were
published in the Federal Register on
Wednesday, March 2, 2005 (70 FR 10037).
The temporary regulations modify the
rules relating to qualified amended returns
by providing additional circumstances
that end the period within which a taxpayer may file an amended return that
constitutes a qualified amended return.
DATES: This correction is effective March
2, 2005.
FOR
FURTHER
INFORMATION
CONTACT: Nancy M. Galib at (202)
622–4940 (not a toll-free number).

August 1, 2005

Paragraph 1. The authority citation for
part 1 continues to read in part as follows:
Authority: 26 USC 7805 * * *
§1.6664–2T [Corrected]
1. Section 1.6664–2T(c)(3)(i)(B) is
amended by removing “of an activity” and
adding “for an activity” in its place.
2.
Section 1.6664–2T(c)(3)(ii)(A)
is
amended
by
removing
“§1.6664–2(c)(3)(i)”
and
adding
“§1.6664–2T(c)(3)(i)” in its place.
3. Section 1.6664–2T(c)(3)(ii)(C) is
amended by removing “who is a material advisor (within the meaning of section 6111)” and adding “from any person

258

who gave the taxpayer material aid, assistance, or advice as described in section
6111(b)(1)(A)(i)” in its place.
4. Section §1.6664–2T(c)(5) Example
3., is redesignated as §1.6664–2T(c)(5)
Example 3 (i).
5. Newly designated §1.6664–2T(c)(5)
Example 3. (i) is amended by removing
“2003” and adding “2004” each place it
appears.
6.
The undesignated text in
§1.6664–2T(c)(5) Example 3. is designated as §1.6664–2T(c)(5) Example 3.
(ii).
7. Section 1.6664–2T(c)(5) Example
4., the first sentence is amended by removing “2003” and adding “2004” in its place.
8. Section 1.6664–2T(c)(5) Example
7., is redesignated as §1.6664–2T(c)(5)
Example 7. (i).
9.
The undesignated text in
§1.6664–2T(c)(5) Example 7. is designated as §1.6664–2T(c)(5) Example 7.
(ii).
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 June 22, 2005,
8:45 a.m., and published in the issue of the Federal Register
for June 23, 2005, 70 F.R. 36344)

2005–31 I.R.B.