REG-107069-97 (Final) Purchase Price Allocations in Deemed Actual Asset Acquisitions

ICR 200207-1545-022

OMB: 1545-1658

Federal Form Document

Forms and Documents
Document
Name
Status
No forms / supporting documents in this ICR. Check IC Document Collections.
IC Document Collections
ICR Details
1545-1658 200207-1545-022
Historical Active 200102-1545-032
TREAS/IRS
REG-107069-97 (Final) Purchase Price Allocations in Deemed Actual Asset Acquisitions
Extension without change of a currently approved collection   No
Regular
Approved without change 08/22/2002
Retrieve Notice of Action (NOA) 07/16/2002
  Inventory as of this Action Requested Previously Approved
08/31/2005 08/31/2005 09/30/2002
45 0 45
25 0 25
0 0 0

Section 338 of the Internal Revenue Code provides rules under which a qualifying stock acquisition is treated as an asset acqusiiton (as "deemed asset acquisition") when an appropriate election is made. Section 1060 provides rules for the allocation of consideration when a trade or business is transferred. The collection of information is necessary to make the election, to calculate and collect the appropriate amount of tax liability when a qualifiying stock acquisition is made, to determine the person liable for such tax, and to determine the bases of assets acquired in the deemed asset....

None
None


No

1
IC Title Form No. Form Name
REG-107069-97 (Final) Purchase Price Allocations in Deemed Actual Asset Acquisitions

  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 45 45 0 0 0 0
Annual Time Burden (Hours) 25 25 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.
07/16/2002


© 2024 OMB.report | Privacy Policy