DOMESTIC INTERNATIONAL SALES CORPORATION RETURN, AND ITS RELATED SCHEDULES K,N, AND P.

ICR 198301-1545-001

OMB: 1545-0124

Federal Form Document

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ICR Details
1545-0124 198301-1545-001
Historical Active 198210-1545-020
TREAS/IRS
DOMESTIC INTERNATIONAL SALES CORPORATION RETURN, AND ITS RELATED SCHEDULES K,N, AND P.
Revision of a currently approved collection   No
Regular
Approved without change 01/11/1983
Retrieve Notice of Action (NOA) 01/03/1983
  Inventory as of this Action Requested Previously Approved
10/31/1985 10/31/1985 10/31/1985
38,000 0 38,000
179,924 0 179,542
0 0 0

U.S. CORPORATIONS THAT HAVE ELECTED TO BE TREATED AS DOMESTIC INTERNATIONAL SALES CORPORATIONS FILE FORM 1120-DISC TO REPORT THEIR INCOME AND DEDUCTIONS. DISCS ARE NOT TAXED, HOWEVER, SHAREHOLDERS OF A DISC ARE TAXED ON DISC INCOME. THE IRS USES FORM 1120-DISC TO ASCERTAIN IF THE DISC HAS CORRECTLY COMPUTED ITS INCOME AND SCHEDULE K (FORM 1120-DISC) TO DETERMINE IF SHAREHOLDERS OF A DISC HAVE CORRECTLY REPORTED DISC INCOME. SCHED. N GIVES HISTORICAL INFO. ON A DISC'S INC.

None
None


No

1
IC Title Form No. Form Name
DOMESTIC INTERNATIONAL SALES CORPORATION RETURN, AND ITS RELATED SCHEDULES K,N, AND P. 1120-DISC, SCH. K, N, P

  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 38,000 38,000 0 0 0 0
Annual Time Burden (Hours) 179,924 179,542 0 382 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
Yes
No

$0
No
No
Uncollected
Uncollected
Uncollected
Uncollected

  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.
01/03/1983


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