Revenue Procedure 121526-09 supercedes Revenue Procedure 2002-15. The revenue procedure provides specific requirements eligible entities must meet in order to seek extensions of time to file entity classification elections.
Revenue procedure 121526-09 provides guidance under § 7701 of the Internal Revenue Code both for an eligible entity that requests relief for a late classification election filed within 36 months and 75 days of the requested effective date of the eligible entityÂs classification and for those eligible entities that are still required to request a letter ruling in order to make a late entity classification election.
This revenue Procedure 121526-09 modifies and supercedes Revenue Procedure 2002-59. RP 2002-59 modified and supersedes RP 2002-15. These changes result in an increase of 4454 burden hours.
$0
No
No
Uncollected
Uncollected
No
Uncollected
Beverly Katz 202 622-3050
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.
SUPPORTING_STATEMENT_RP-121526-09[1].doc
RP 2002-59.pdf
Revenue Procedure 2002-15, Automatic Relief for Late Initial Entity Classification Elections-Check the Box