Constructive Transfers and Transfers of Property to a Third Party on Behalf of a Spouse

ICR 202002-1545-007

OMB: 1545-1751

Federal Form Document

Forms and Documents
Document
Name
Status
Supporting Statement A
2020-07-23
IC Document Collections
IC ID
Document
Title
Status
19284
Modified
ICR Details
1545-1751 202002-1545-007
Active 201703-1545-018
TREAS/IRS
Constructive Transfers and Transfers of Property to a Third Party on Behalf of a Spouse
Extension without change of a currently approved collection   No
Regular
Approved without change 10/05/2020
Retrieve Notice of Action (NOA) 07/30/2020
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
10/31/2023 36 Months From Approved 10/31/2020
1,000 0 1,000
500 0 500
0 0 0

The regulation sets forth the required information that will permit spouses or former spouses to treat a redemption by a corporation of stock of one spouse or former spouse as a transfer of that stock to the other spouse or former spouse in exchange for the redemption proceeds and a redemption of the stock from the latter spouse or former spouse in exchange for the redemption proceeds.

US Code: 26 USC 1041 Name of Law: Transfers of property between spouses or incident to divorce
  
None

Not associated with rulemaking

  84 FR 68017 12/12/2019
85 FR 45956 07/30/2020
No

1
IC Title Form No. Form Name
Redemptions of stock

  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 1,000 1,000 0 0 0 0
Annual Time Burden (Hours) 500 500 0 0 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No

$0
No
    No
    No
No
No
No
No
Edward Schwartz 202 622-4960

  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.
07/30/2020


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