CIVIL TAX 1065 Tax Lawyer, Vol. 55, No. 4 CORPORATE TAX SUBMITTED BY THE COMMITTEE ON CORPORATE TAX: BENJAMIN G. WELLS, COMMITTEE CHAIR; REBECCA S. RUDNICK (DECEASED), SUBCOMMITTEE CHAIR ON IMPORTANT DEVELOPMENTS* Regulations Liquidations and Taxable Distributions Proposed Regulation section 110659-00, 66 Fed. Reg. 3959 (2001) applies to certain subsidiary entities that elect to change their classification for federal tax purposes to either a partnership or disregarded entity. Under section 332...