OMB.report

Federal forms, ICRs, and supporting documents

Information Collection Request

Form 1120-SF--U.S. Income Tax Return for Settlement Funds (Under Section 468B)

ICR 201011-1545-042 · OMB 1545-1394 · Historical Active

Forms and Documents
DocumentTypeStatusAvailability
Form 1120-SF U.S. Income Tax Return for Settlement Funds (Under Section 468B) Form Modified Available
Supporting Statement (Form-1120-SF).doc Supporting Statement A Uploaded 2010-11-26 Available
IC Document Collections
IC IDCollectionTypeStatusForm
18238 U.S. Income Tax Return for Settlement Funds (Under Section 468B) Form Modified
ICR Details
1545-1394 201011-1545-042
Historical Active 200801-1545-015
TREAS/IRS EC-1545-1394-042
Form 1120-SF--U.S. Income Tax Return for Settlement Funds (Under Section 468B)
Revision of a currently approved collection   No
Regular
Approved without change 05/23/2011
Retrieve Notice of Action (NOA) 03/16/2011
  Inventory as of this Action Requested Previously Approved
05/31/2014 36 Months From Approved 05/31/2011
1,000 0 1,000
26,310 0 27,330
0 0 0
Form 1120-SF is used by settlement funds to report income and taxes on earnings of the fund. The fund may be established by court order, a breach of contract, a violation of law, an arbitration panel, or the Environmental Protection Agency. The IRS uses Form 1120-SF to determine if income and taxes are correctly computed.
US Code: 26 USC 468B Name of Law: Special rules for designated settlement funds
  
None
Not associated with rulemaking
  75 FR 47893 08/09/2010
76 FR 14458 03/16/2011
No
1
IC Title Form No. Form Name
U.S. Income Tax Return for Settlement Funds (Under Section 468B) 1120-SF U.S. Income Tax Return for Settlement Funds
  Total Approved Previously Approved Change Due to New Statute Change Due to Agency Discretion Change Due to Adjustment in Estimate Change Due to Potential Violation of the PRA
Annual Number of Responses 1,000 1,000 0 0 0 0
Annual Time Burden (Hours) 26,310 27,330 0 0 -1,020 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No
There is a reduction in the number of total burden hours due to corrections in the burden computation.
$498
No
No
No
No
No
Uncollected
K Slaton 2022832734
  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.
03/16/2011