Bulletin No. 1996–18 — Internal Revenue Bulletin 1996-18

Announcement 96–23, page 7. This announcement proposes procedures for a foreign person to apply to the IRS to be a qualified intermediary under section 1.1441–1(e)(5) of the proposed regulations under section 1441.

Announcement 96–34, page 13. T.D. 8653, 1996–12 I.R.B. 4, relating to the character and timing of gain or loss from hedging transactions entered into by member of a consolidated group, is corrected.

Announcement 96–35, page 13. T.D. 8638, 1996–5 I.R.B. 5, relating to certain transfers of stock or securities of domestic corporations by U.S. persons to foreign corporations, is corrected.

Announcement 96–36, page 13. T.D. 8648, 1996–10 I.R.B. 23, relating to a controlling corporation’s basis adjustment in its controlled corporation’s stock following a triangular reorganization, is corrected.

Announcement 96–37, page 14. T.D. 8597, 1995–32 I.R.B. 6, relating to intercompany transaction system of the consolidated return regulations, is corrected.