This approval
includes approval of the Inventory Correction Worksheet dated July
27, 1990. You may omit printing the expiration date on this form.
Also, you may continue to use previous versions of this form.
Inventory as of this Action
Requested
Previously Approved
09/30/1993
09/30/1993
09/30/1992
2,834,748
0
2,834,748
468,433,144
0
465,485,523
0
0
0
FORM 1120 IS USED BY CORPORATIONS TO
COMPUTE THEIR TAXABLE INCOME AND TAX LIABILITY. SCHEDULE D (FORM
1120) IS USED BY CORPORATIONS TO REPORT GAINS AND LOSSES FROM THE
SALE OF CAPITAL ASSETS. SCHEDULE PH (FORM 1120) IS USED BY PERSONAL
HOLDING COMPANIES TO COMPUTE THEIR TAX LIABILITY. THE IRS USES
THESE FORMS TO DETERMINE WHETHER CORPORATIONS HAVE CORRECTLY
COMPUTED THEIR TAX LIABILITY.
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.