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Part IV.

Items of General Interest

Anti-Avoidance and Anti-Loss “Background and Explanation of Provi­ knowledge of the revocation of the ruling
Reimportation Rules sions” paragraph 2, line 6 from the bottom or determination letter, (2) was aware that
Applicable Following a of the column, the language “the loss reim­ such revocation was imminent, or (3) was
portation rule is also” is corrected to read in part responsible for or was aware of the
Loss on Disposition of Stock “the anti-loss reimportation rule is also”. activities or omissions of the organization
of Consolidated Subsidiaries; 2. On page 17805, column 2, in the that brought about this revocation.
Correction preamble, under the paragraph heading If on the other hand a suit for declara­
“Special Analyses”, line 5 from the top tory judgment has been timely filed, con­
Announcement 2007–50 of the column, the language “U.S.C. tributions from individuals and organiza­
553(b)(B) that prior notice and” is cor­ tions described in section 170(c)(2) that
AGENCY: Internal Revenue Service rected to read “U.S.C. 553(b)(3)(B) that are otherwise allowable will continue to
(IRS), Treasury. prior notice and”. be deductible. Protection under section
3. On page 17805, column 2, in the pre­ 7428(c) would begin on May 29, 2007, and
ACTION: Correction to final and tempo­
amble, under the paragraph heading “Spe­ would end on the date the court first deter­
rary regulations.
cial Analyses”, line 16 from the top of the mines that the organization is not described
SUMMARY: This document contains column, the language “reference notice of in section 170(c)(2) as more particularly
corrections to final and temporary regu­ the proposed” is corrected to read “refer­ set forth in section 7428(c)(1). For indi­
lations (T.D. 9322, 2007–18 I.R.B. 1100) ence notice of proposed”. vidual contributors, the maximum deduc­
that were published in the Federal Reg­ tion protected is $1,000, with a husband
LaNita Van Dyke, and wife treated as one contributor. This
ister on Tuesday, April 10, 2007 (71 FR
Branch Chief,
benefit is not extended to any individual, in
17804) providing guidance to corpora­
Publications and Regulations Branch,
whole or in part, for the acts or omissions
tions filing consolidated returns and apply
Legal Processing Division,
of the organization that were the basis for
an anti-avoidance rule and revising an
Office of Associate Chief Counsel
revocation.
anti-loss reimportation rule that applies
(Procedure and Administration).

following a disposition of stock of a sub­ Security Warranty, Inc.


sidiary at a loss. (Filed by the Office of the Federal Register on April 30, 2007,
San Antonio, TX
8:45 a.m., and published in the issue of the Federal Register
FOR FURTHER INFORMATION
for May 1, 2007, 72 F.R. 23771) Franklin Foundation, Inc.
CONTACT: Theresa Abell, (202) Gaithersburg, MD
622–7700 or Phoebe Bennett, (202) Howard Family Foundation
622–7770 (not toll-free numbers). Deletions From Cumulative Chicago, IL
List of Organizations Center for Electronic Art
SUPPLEMENTARY INFORMATION: Woodacre, CA
Contributions to Which Richard & Jane Pater
Background are Deductible Under Section Charitable Foundation
170 of the Code Salt Lake City, UT
The final and temporary regulations
(T.D. 9322) that is the subject of these Announcement 2007–51
corrections are under section 1502 of the Foundations Status of Certain
Internal Revenue Code. The names of organizations that no Organizations
longer qualify as organizations described
Need for Correction in section 170(c)(2) of the Internal Rev­ Announcement 2007–52
enue Code of 1986 are listed below.
As published, these final and temporary
Generally, the Service will not disallow The following organizations have failed
regulations (T.D. 9322) contain errors that
deductions for contributions made to a to establish or have been unable to main­
may prove to be misleading and are in need
listed organization on or before the date tain their status as public charities or as op­
of clarification.
of announcement in the Internal Revenue erating foundations. Accordingly, grantors
Correction of Publication Bulletin that an organization no longer and contributors may not, after this date,
qualifies. However, the Service is not rely on previous rulings or designations
Accordingly, these final and temporary precluded from disallowing a deduction in the Cumulative List of Organizations
regulations (T.D. 9322) that were the sub­ for any contributions made after an or­ (Publication 78), or on the presumption
ject of FR Doc. E7–6541, are corrected as ganization ceases to qualify under section arising from the filing of notices under sec­
follows: 170(c)(2) if the organization has not timely tion 508(b) of the Code. This listing does
1. On page 17805, column 1, in the filed a suit for declaratory judgment under not indicate that the organizations have lost
preamble, under the paragraph heading section 7428 and if the contributor (1) had their status as organizations described in

May 29, 2007 1337 2007–22 I.R.B.

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