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b. Amendments to the Regulations
Since they were issued, the (final) check-the-box
regulations have been amended several times. The only relevant
amendments were additions to the regulations that, together,
constitute the existing paragraph (g) of section 301.7701-3,
Proced. & Admin. Regs. See T.D. 8844, 1999-2 C.B. 661, 666-667;
T.D. 8970, 2002-1 C.B. 281, 282. Although those amendments are
generally effective as of the dates of issuance (November 29,
1999, and December 17, 2001, respectively), both amendments
provide for retroactive application for elections filed before
those dates if all affected persons take consistent filing
positions. See sec. 301.7701-3(g)(2)(ii), (4), Proced. & Admin.
Regs. The parties have stipulated that the election by H&C, on
Form 8832, to be a disregarded entity was filed on or about
October 10, 1999, which precedes the general effective dates.
On brief, both parties have cited and relied upon portions of
section 301.7701-3(g), Proced. & Admin. Regs. Therefore, we find
that the parties agree to the retroactive application of
paragraph (g) of section 301.7701-3, Proced. & Admin. Regs., to
H&C’s disregarded entity election.
c. Applicable Provisions of the Regulations
Section 301.7701-3(a), Proced. & Admin. Regs., sets forth
the general rule that “[a] business entity that is not classified
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