DEFINITION OF A CONTROLLED FOREIGN CORPORATION AND FOREIGN PEROSNAL HOLDING COMPANY INCOME OF A CONTROLLED FOREIGN CORPORATION AFTER 12/31/86, INTL-362-88 NPRM,INTL-953-86TEMP

ICR 198807-1545-001

OMB: 1545-1068

Federal Form Document

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ICR Details
1545-1068 198807-1545-001
Historical Active
TREAS/IRS
DEFINITION OF A CONTROLLED FOREIGN CORPORATION AND FOREIGN PEROSNAL HOLDING COMPANY INCOME OF A CONTROLLED FOREIGN CORPORATION AFTER 12/31/86, INTL-362-88 NPRM,INTL-953-86TEMP
New collection (Request for a new OMB Control Number)   No
Regular
Approved without change 07/08/1988
Retrieve Notice of Action (NOA) 07/06/1988
The information collections contained in these regulations are approve through October 1988 pending receipt of public comments. A request fo further extension of OMB approval of the information collections has been entered automatically. OMB review of the request for extension of approval of the collections will be completed following review of public comments.
  Inventory as of this Action Requested Previously Approved
10/31/1988 10/31/1988
26,500 0 0
49,417 0 0
0 0 0

AN ELECTION IS REQUIRED TO EXCLUDE FROM THE COMPUTATION OF SUBPART F INCOME, INCOME SUBJECT TO RATE OF TAX IMPOSED BY A FOREIGN COUNTRY THA IS GREATER THAN THE RATE IMPOSED BY THE U.S. RECORDKEEPING IS REQUIRE TO EXCLUDE FROM PERSONAL HOLDING COMPANY INCOME GAINS OR LOSSES FROM QUALIFIED COMMODITIES, HEDGING TRANSACTIONS AND FOREIGN CURRENCY GAINS OR LOSSES FROM QUALIFIED BUSINESS TRANSACTIONS OR QUALIFIED HEDGING

None
None


No

  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 26,500 0 0 26,500 0 0
Annual Time Burden (Hours) 49,417 0 0 49,417 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.
07/06/1988


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