Limitation on Deduction for Dividends Received From Certain Foreign Corporations and Amounts Eligible for Section 954 Look-Through Exception; Correction

Cited as:85 FR 72934
Court:Internal Revenue Service
Publication Date:16 Nov 2020
Record Number:2020-24092
72934
Federal Register / Vol. 85, No. 221 / Monday, November 16, 2020 / Rules and Regulations
costs associated with an ID/IQ contract,
or portion of a contract. In such cases,
FHWA’s construction contracting
requirements will apply to all ID/IQ
contract work orders if any ID/IQ
contract work orders are funded with
Title 23, U.S.C. funds. Any expenses
incurred before FHWA authorization
shall not be eligible for reimbursement
except as may be determined in
accordance with § 1.9 of this chapter.
(2) The applicable Federal share for
each work order shall be specified in the
relevant project agreement.
§ 635.606 ID/IQ procedures.
(a) FHWA approval. The State DOT
shall submit its proposed ID/IQ
procurement procedures to the Division
Administrator for review and approval.
Following approval by the Division
Administrator, any subsequent changes
in procedures and requirements shall
also be subject to approval by the
Division Administrator before they are
implemented. Other contracting
agencies may follow approved State
DOT procedures in their State or their
own procedures if approved by both the
State DOT and FHWA. The Division
Administrator’s approval of ID/IQ
procurement procedures may not be
delegated or assigned to the State DOT.
(b) Competition. ID/IQ procurement
procedures shall effectively secure
competition in the judgment of the
Division Administrator.
(c) Procurement requirements. ID/IQ
procurement procedures shall include
the following procedures and
responsibilities:
(1) Review and approval of ID/IQ
solicitations;
(2) Review and approval of work item
descriptions and specifications;
(3) Approval to advertise solicitations;
(4) Concurrence with ID/IQ contract
awards to single or multiple contractors;
(5) Approval of and amendments to
formal project agreements and
authorizations to proceed pursuant to
§ 630.106 of this chapter;
(6) Issuance of work orders;
(7) Approval of and amendments to
agreement estimates pursuant to
§ 635.115;
(8) Changed conditions clauses;
(9) Approval of contract changes and
extra work pursuant to § 635.120; and
(10) Other procedures as needed to
ensure compliance with other
requirements in this subpart and under
Title 23, U.S.C. and its implementing
regulations and 49 CFR part 26.
(d) Design-build and ID/IQ. Subject to
the approval of the Division
Administrator, as described in
§ 635.606(a), contracting agencies may
incorporate the design-build contracting
method with ID/IQ contracts. In
addition to the requirements of this
section, the contracting agency shall
include procedures as needed to ensure
compliance with part 636 of this chapter
and related requirements.
[FR Doc. 2020–23675 Filed 11–13–20; 8:45 am]
BILLING CODE 4910–22–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 1
[TD 9909]
RIN 1545–BP35
Limitation on Deduction for Dividends
Received From Certain Foreign
Corporations and Amounts Eligible for
Section 954 Look-Through Exception;
Correction
AGENCY
: Internal Revenue Service (IRS),
Treasury.
ACTION
: Final regulations; correction.
SUMMARY
: This document contains
corrections to the final regulations
(Treasury Decision 9909) that were
published in the Federal Register on
Thursday, August 27, 2020. Treasury
Decision 9909 contained final
regulations under sections 245A and
954 of the Internal Revenue Code (the
‘‘Code’’) that limit the deduction for
certain dividends received by United
States persons from foreign corporations
under section 245A and the exception to
subpart F income under section
954(c)(6) for certain dividends received
by controlled foreign corporations.
DATES
: These corrections are effective
on November 16, 2020.
FOR FURTHER INFORMATION CONTACT
:
Arielle M. Borsos or Logan M.
Kincheloe at (202) 317–6937 (not a toll-
free number).
SUPPLEMENTARY INFORMATION
:
Background
The final regulations (TD 9909) that
are the subject of this correction are
issued under sections 245A, 954(c)(6),
and 6038 of the Internal Revenue Code.
Need for Correction
As published on August 27, 2020 (85
FR 53068) the final regulations (TD
9909) contain errors that need to be
corrected.
Correction of Publication
Accordingly, the final regulations (TD
9909) that are the subject of FR Doc.
2020–18543, appearing on page 53068
in the Federal Register of August 27,
2020, are corrected as follows:
1. On page 53075, third column,
removing the second and third sentence
of the last full paragraph.
2. On page 53076, first column, the
seventh line from the bottom of the first
full paragraph, after the sentence ending
‘‘See proposed § 1.245A–5(e)(3)(i)(C).’’,
adding the language ‘‘Because the
determination as to whether there
would be an extraordinary reduction
amount or tiered extraordinary
reduction amount greater than zero is
made without regard to an election to
close the taxable year, this
determination is made without taking
into account any elections that may be
available, or other events that may
occur, solely by reason of an election to
close the taxable year, such as the
application of section 954(b)(4) to a
short taxable year created as a result of
the election.’’
3. On page 53076, first column, the
sixth and seventh lines from the bottom
of the first full paragraph, the language
‘‘Because the election can only’’ is
corrected to read ‘‘Furthermore, because
the election to close the taxable year can
only’’.
4. On page 53077, the second column,
the sixth line from the bottom of the
first full paragraph, the language ‘‘under
sections 7805(b)(2)’’ is corrected to read
‘‘under section 7805(b)(2)’’.
5. On page 53078, the first column,
the seventh line of the second full
paragraph, the language ‘‘Earning
subject’’ is corrected to read ‘‘Earnings
subject’’.
6. On page 53082, the third column,
the last line of the bottom partial
paragraph, ‘‘gap period’’ is corrected to
read ‘‘disqualified period’’.
Crystal Pemberton,
Senior Federal Register Liaison, Publications
and Regulations Branch, Legal Processing
Division, Associate Chief Counsel, (Procedure
and Administration).
[FR Doc. 2020–24092 Filed 11–13–20; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF LABOR
Employee Benefits Security
Administration
29 CFR Part 2510
RIN 1210–AB94
Registration Requirements for Pooled
Plan Providers
AGENCY
: Employee Benefits Security
Administration, Labor.
ACTION
: Final rule.
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