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TREAS/IRS RIN: 1545-BF46 Publication ID: Fall 2008 
Title: Application of Separate Limitations to Dividends From Noncontrolled Section 902 Corporation (Temporary) 
Abstract: The American Jobs Creation Act of 2004 amended the foreign tax credit limitation rules under section 904(d) and extended lookthrough treatment to dividends paid by a 10/50 lookthrough corporation, generally effective retroactively for tax years beginning after December 31, 2002. The Gulf Opportunity Zone Act of 2005 permits taxpayers to elect to defer the effective date of the AJCA amendments to tax years beginning after December 31, 2004. These regulations would provide guidance needed to comply with these changes, including transition rules for dividends paid by a 10/50 lookthrough corporation. 
Agency: Department of the Treasury(TREAS)  Priority: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Final Rule Stage 
Major: Undetermined  Unfunded Mandates: No 
CFR Citation: 26 CFR 1   
Legal Authority: 26 USC 7805    26 USC 904(d)(6)   
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  04/25/2006  71 FR 24516   
NPRM Comment Period End  07/24/2006    
Final Action  12/00/2008    
Additional Information: REG-144784-02 Drafting attorney: Richard L. Chewning (202) 622-3850 Reviewing attorney: Barbara A. Felker (202) 622-3850 Treasury attorney: Ginny L. Chung (202) 622-9461 CC: INTL
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Small Entities Affected: No  Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Related RINs: Related to 1545-BB28 
Agency Contact:
Richard L. Chewning
Senior Counsel
Department of the Treasury
Internal Revenue Service
1111 Constitution Avenue NW.,
Washington, DC 20224
Phone:202 622-3850
Fax:202 622-4476
Email: richard.l.chewning@irscounsel.treas.gov