REG-131478-02 (Final) Guidance Under Section 1502; Suspension of Losses on Certain Stock Disposition

ICR 200605-1545-004

OMB: 1545-1828

Federal Form Document

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ICR Details
1545-1828 200605-1545-004
Historical Active 200305-1545-028
TREAS/IRS
REG-131478-02 (Final) Guidance Under Section 1502; Suspension of Losses on Certain Stock Disposition
Extension without change of a currently approved collection   No
Regular
Approved without change 07/03/2006
Retrieve Notice of Action (NOA) 05/09/2006
  Inventory as of this Action Requested Previously Approved
07/31/2009 07/31/2009 06/30/2006
7,500 0 7,475
15,000 0 15,000
0 0 0

The information in Sec. 1.1502-35T(c) is necessary to ensure that a consolidated group does not obtain more than one tax benefit from both the utilization of a loss from the disposition of stock and the utilization of a loss or deduction with respect to another asset that reflects the same economic loss; to allow the taxpayer to make an election under Sec. 1.1502-35T(c)(5) that would benefit the taxpayer, the election in Sec. 1.1502-35T(f) provides taxpayers the choice in the case of a worthless subsidiary to utilize a worthless stock deduction or absorb the subsidiary's losses; and Sec. 1.1502-35T(g)(3) applies to ensure

None
None


No

1
IC Title Form No. Form Name
REG-131478-02 (Final) Guidance Under Section 1502; Suspension of Losses on Certain Stock Disposition

  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 7,500 7,475 0 25 0 0
Annual Time Burden (Hours) 15,000 15,000 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.
05/09/2006


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