Section 707(a)(2) provides, in part,
that if there is a transfer of money or property by a partner to a
partnership and a related transfer of money or property by the
partnership to another partner, the transfers will be treated as a
disguised sale of a partnership interest between the partners. The
regulations provide rules relating to disguised sales of
partnership interests and require that the partners or the
partnership disclose the transfers and certain assumptions of
liabilities, with certain attendant facts, in some
situations.
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.