REG-149519-03 (NPRM) Section 707 Regarding Disguised Sales, Generally

ICR 200410-1545-006

OMB: 1545-1909

Federal Form Document

Forms and Documents
Document
Name
Status
No forms / supporting documents in this ICR. Check IC Document Collections.
IC Document Collections
ICR Details
1545-1909 200410-1545-006
Historical Active
TREAS/IRS
REG-149519-03 (NPRM) Section 707 Regarding Disguised Sales, Generally
New collection (Request for a new OMB Control Number)   No
Regular
Approved without change 10/26/2004
Retrieve Notice of Action (NOA) 10/19/2004
  Inventory as of this Action Requested Previously Approved
10/31/2007 10/31/2007
22,500 0 0
7,500 0 0
0 0 0

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.

None
None


No

1
IC Title Form No. Form Name
REG-149519-03 (NPRM) Section 707 Regarding Disguised Sales, Generally

  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 22,500 0 0 22,500 0 0
Annual Time Burden (Hours) 7,500 0 0 7,500 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.
10/19/2004


© 2024 OMB.report | Privacy Policy