TD 9528 – Background
On June 17, 2008, the Treasury Department and the IRS published final and temporary regulations (TD 9401) in the Federal Register (73 FR 34185) relating to the election and calculation of the alternative simplified credit (ASC) under section 41(c)(5). The ASC was added by the Tax Relief and Health Care Act of 2006 (Public Law 109–432, 120 Stat. 2922, December 20, 2006). A notice of proposed rulemaking crossreferencing the temporary regulations was also published in the same issue of the Federal Register (73 FR 34237). Written and electronic comments responding to these regulations (collectively, the 2008 regulations) were received and a public hearing was held on the 2008 regulations on September 25, 2008. After consideration of the comments received and the statements made at the public hearing, the 2008 regulations are adopted as revised by this Treasury decision.
