Before resubmission to OMB for renewal, IRS must consider the public comment received on this collection, requesting extension of the due date of the form 8404.
Inventory as of this Action
Requested
Previously Approved
08/31/2016
36 Months From Approved
2,000
0
0
15,580
0
0
0
0
0
Shareholders of Interest Charge Domestic International Sales Corporations (IC-DISCs) use Form 8404 to figure and report an interest charge on their DISC-related deferred tax liability. The interest charge is required by Internal Revenue Code section 995(f). IRS uses Form 8404 to determine whether the shareholder has correctly figured and paid the interest charge on a timely basis.
US Code:
26 USC 995(f)
Name of Law: Interest on DISC-related deferred tax liability.
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.
Form Form 8404 Form 8404 - Interest Charge on DISC-Related Deferred Tax Liability
1545-0939_Supporting_Statement.doc
Form 8404 - Interest Charge on DISC-Related Deferred Tax Liability