Tax News

CCH (cch.taxgroup.com) reports:

  The IRS has added an exception under Reg. §1.338-1(b)(2) to the provision that treats a new target corporation as a new corporation unrelated to the old target if a Code Sec. 338 election is made. In the case of a life insurance company, for purposes of Code Sec. 807(e)(4), the new target and the old target will be treated as the same corporation.

Notice 2010-1,
2009FED ¶46,557

Other References:

 
Code Sec. 338

  CCH Reference - 2009FED ¶16,288.32

 
Code Sec. 807

  CCH Reference - 2009FED ¶25,821.40

  Tax Research Consultant

  CCH Reference - TRC CCORP: 30,252