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
Federal Form Document
⚠️ Notice: This information collection may be outdated.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.