PS-264-82 (Final) Adjustments to Basis of Stock and Indebtedness to Shareholders of S Corporations and Treatment of Distributions by S Corporations to Shareholders.
ICR 200703-1545-009 · OMB 1545-1139 · Historical Active
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PS-264-82 (Final) Adjustments to Basis of Stock and Indebtedness to Shareholders of S Corporations and Treatment of Distributions by S Corporations to Shareholders.
No material or nonsubstantive change to a currently approved collection
The regulations provide the procedures and the statements to be filed by S corporations for making the election provided under section 1368, and by shareholders who choose to reorder items that decrease their basis. Statements required to be filled will be used to verify that taxpayers are complying with the requirements imposed by Congress.
US Code:
26 USC 1367(b)(2)
Name of Law: Adjustments to basis of stock of shareholders, etc.
US Code:
26 USC 7805
Name of Law: Rules and regulations
An NPRM was added to this collection. This increases overall burden by 250 hours.
$0
No
No
Uncollected
Uncollected
Uncollected
Uncollected
Stacy Short 202 622-3070
No
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
CHANGE WORKSHEE1.doc
PS-264-82 (Final) Adjustments to Basis of Stock and Indebtedness to Shareholders of S Corporations and Treatment of Distributions by S Corporations to Shareholders.