Election by a Small Business Corporation

ICR 200203-1545-007

OMB: 1545-0146

Federal Form Document

Forms and Documents
Document
Name
Status
No forms / supporting documents in this ICR. Check IC Document Collections.
IC Document Collections
IC ID
Document
Title
Status
17009 Migrated
ICR Details
1545-0146 200203-1545-007
Historical Active 200108-1545-069
TREAS/IRS
Election by a Small Business Corporation
Extension without change of a currently approved collection   No
Regular
Approved without change 05/21/2002
Retrieve Notice of Action (NOA) 03/22/2002
The agency is not required to display the expiration date.
  Inventory as of this Action Requested Previously Approved
05/31/2005 05/31/2005 05/31/2002
500,000 0 500,000
7,745,000 0 7,745,000
0 0 0

Form 2553 is filed by a qualifying corporation to elect to be an S corporation as defined in Code section 1361. The information obtained is necessary to determine if the election should be accepted by the IRS. When the election is accepted, the qualifying corporation is classified as an S corporation and the corporation's income is taxed to the shareholders of the corporation.

None
None


No

1
IC Title Form No. Form Name
Election by a Small Business Corporation 2553

  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 500,000 500,000 0 0 0 0
Annual Time Burden (Hours) 7,745,000 7,745,000 0 0 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
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.
03/22/2002


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