TD 9451 - Guidance Necessary To Facilitate Business Election Filing; Finalization of Controlled Group Qualification Rules, TD 9759-Limitations on the Importation of Net Built-In Losses
ICR 201803-1545-012 · OMB 1545-2019 · Active
⚠️ Notice: This information collection may be outdated. More recent filings for OMB 1545-2019 can be found here:
TD 9451 - Guidance Necessary To Facilitate Business Election Filing; Finalization of Controlled Group Qualification Rules, TD 9759-Limitations on the Importation of Net Built-In Losses
OMB understands that the IRS is currently in the process of revising the methodology it uses to estimate burden and costs. OMB expects that future ICRs under this OMB control number will include dollar estimates of annual burden costs to taxpayers calculated using this revised methodology.
Inventory as of this Action
Requested
Previously Approved
03/31/2022
36 Months From Approved
03/31/2019
225,000
0
1,225,000
375,000
0
625,000
0
0
0
This document contains a previously approved final regulation that provides guidance to taxpayers for determining which corporations are included in a controlled group of corporations. REG-161948-05 contains proposed regulations under sections 334(b)(1)(B) and 362(e)(1) of the Internal Revenue Code of 1986 (Code). The proposed regulations apply to certain nonrecognition transfers of loss property to corporations that are subject to Federal income tax. The proposed regulations affect the corporations receiving the loss property.
US Code:
26 USC 334
Name of Law: Basis of property received in liquidations
US Code:
26 USC 7805
Name of Law: Rules and regulations
US Code:
26 USC 362
Name of Law: Basis to corporations
US Code: 26 USC 334 Name of Law: Basis of Property recieved in liquidations
US Code: 26 USC 362(e)(1) Name of Law: Limitation on importation of built-in losses
US Code: 26 USC 362(e)(2) Name of Law: Limitation on transfer of built-in losses in section 351 transactions
The change in burden estimates are due to the removal of TD 9300 (previously discontinued under OMB# 1545-1868 but now the burden is reported under 1545-0123, U. S. Business Income Tax Return) and discontinued in this collection to avoid duplication. The TD 9300 was included in the previously approved collection by error, IRS has corrected the error by removing the TD 9300 from this collection under OMB# 1545-1868, which has resulted in a decrease in the estimated annual responses by 1,000,000, also, decreasing the estimate burden hours by 250,000 hours.
$0
No
No
No
No
No
No
Uncollected
Grid Glyer 202 622-7930
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.
2018-04-19_SS_1545-2019r.doc
TD 9300, Guidance Necessary to Facilitate Business Electronic Filing