A taxpayer that wants to revoke its election to be treated as a domestic corporation for all purposes of the Internal Revenue Code (ÂCodeÂ) must file a revocation statement with the Internal Revenue Service (ÂIRSÂ). This revenue procedure provides guidance for implementing the elections (and revocation of such elections) established under the "FSC Repeal and Extraterritorial Income Exclusion Act of 2000."
US Code:
26 USC 6103
Name of Law: Confidentiality and disclosure of returns and return information.
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.
Rev Proc 2001-37.pdf
sss.doc
Revenue Procedure 2001-37, Extraterritorial Income Exclusion Elections