Rulings and determination
letters. (RP 2022-1, RP 2022-10)
Reinstatement with change of a previously approved collection
No
Regular
03/23/2022
Requested
Previously Approved
36 Months From Approved
3,966
0
316,100
0
0
0
Revenue Procedure 2022-1 explains how
the Service provides advice to taxpayers on issues under the
jurisdiction of the Associate Chief Counsel (Corporate), the
Associate Chief Counsel (Financial Institutions and Products), the
Associate Chief Counsel (Income Tax and Accounting), the Associate
Chief Counsel (International), the Associate Chief Counsel
(Passthrough and Special Industries), the Associate Chief Counsel
(Procedure and Administration), and the Associate Chief Counsel
(Tax Exempt and Government Entities). It explains the forms of
advice and the manner in which advice is requested by taxpayers and
provided by the Service. This information is required to evaluate
and process the request for a letter ruling or determination
letter. Rev. Proc. 2022-10 establishes an 18-month pilot program to
provide an opportunity for fast-track processing of certain
requests for letter rulings solely or primarily under the
jurisdiction of the Associate Chief Counsel (Corporate). Rev. Proc.
2017-52 (1)introduces a pilot program expanding the scope of letter
rulings available from the Internal Revenue Service (Service) to
include rulings on the tax consequences of a distribution of stock
and securities of a controlled corporation under § 355 for a
specified period of time (see section 6 of this revenue procedure),
(2) provides procedures for taxpayers requesting these rulings, and
(3) clarifies procedures for taxpayers requesting rulings on
significant issues relating to these transactions. The likely
respondents are businesses or other for-profit institutions and tax
exempt organizations.
US Code:
26
USC 7805 Name of Law: Rules and Regulations
This revenue procedure is
effective for all requests received on or after January 4, 2021.
Rev. Proc. 2020-1, as modified by Rev. Proc. 2020-29, governs
requests prior to January 4, 2021. The previous approval was
inadvertently discontinued. This submission is being made to
request proper OMB approval on an existing collection in use
without an OMB Control Number. Revenue Procedure 2022-1 was
published during the public comment period of this Information
collection request. It supersedes Rev. Proc. 2021-1 effective
January 3, 2022. The Department of the Treasury (Treasury
Department) and the Service have also received numerous informal
comments from taxpayers and practitioners regarding the time
required to process letter ruling requests. The Treasury Department
and the Service have determined that faster processing of requests
for letter rulings solely or primarily under the jurisdiction of
the Associate Chief Counsel (Corporate) in more situations would
improve service to taxpayers and enhance sound administration of
the corporate tax provisions of the Internal Revenue Code (Code).
Rev. Proc. 2022-10 provides guidance for fast-track processing of
certain requests for letter rulings.
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.
Supporting Statement.docx
RP 2022-10 Ruling and determination letters