-51-
Holden, supra. The ABAST also observed that there had been
“almost countless tax bills over the past 50 years, including
recodifications in 1939, 1954 and 1986" and concluded that
Congress must have acquiesced in the interpretation set forth in
those cases. Id.
D. 2002 Temporary Regulations
On January 28, 2002, the Secretary filed with the Federal
Register the 2002 temporary regulations consisting of section
1.882-4T(a)(3)(ii), (iii), and (iv), Temporary Income Tax Regs.,
67 Fed. Reg. 4217 (Jan. 29, 2002). These temporary regulations
amended the waiver standard prescribed in section 1.882-4, Income
Tax Regs., as amended in 1990, and listed examples of the amended
standard. The 2002 temporary regulations were effective for open
years for which a request for a waiver was filed on or after
January 29, 2002.
E. 2003 Regulations
On March 7, 2003, the Secretary replaced the 2002 temporary
regulations with the 2003 regulations. See 68 Fed. Reg. 11313
(March 7, 2003). The 2003 regulations allow the Commissioner to
waive the 18-month deadline prescribed in the 1990 regulations if
the foreign corporation “establishes to the satisfaction of the
Commissioner or his or her delegate that the corporation, based
on the facts and circumstances, acted reasonably and in good
faith in failing to file a U.S. income tax return”. Sec.
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