Reducation of Tax Attributes Due to Discharge of Indebtedness (and Section 1082 Basis Adjustment)

ICR 200607-1545-014

OMB: 1545-0046

Federal Form Document

Forms and Documents
Document
Name
Status
No forms / supporting documents in this ICR. Check IC Document Collections.
ICR Details
1545-0046 200607-1545-014
Historical Active 200601-1545-048
TREAS/IRS
Reducation of Tax Attributes Due to Discharge of Indebtedness (and Section 1082 Basis Adjustment)
Extension without change of a currently approved collection   No
Regular
Approved without change 09/22/2006
Retrieve Notice of Action (NOA) 07/10/2006
This form is used by individual and other taxpayers. The portion of the burden imposed on individual taxpayers is approved under OMB Control Number 1545-0074. In its next submission under this OMB Control Number, the agency is instructed to ensure that the estimate of burden associated with this Control Number includes only the burden imposed on non-individual taxpayers. If the agency finds that the current burden estimate includes burden imposed on individual taxpayers, it must immediately submit an adjustment request that eliminates this double-counting. In its next submission of this information collection, the agency is instructed to provide the Line of Business and Subfunction under the Federal Enterprise Architecture Business Reference Module.
  Inventory as of this Action Requested Previously Approved
09/30/2009 36 Months From Approved 09/30/2006
667 0 667
7,171 0 7,171
0 0 0

Internal Revenue Code section 108 allows taxpayers to exclude from gross income amounts attributable to discharge of indebtedness in title 11 cases, insolvency, or a qualified farm indebtedness. Code section 1081(b) allows corporations to exclude from gross income amounts attributable to certain transfers of property. The data is used to verify adjustments to basis of property and reduction of tax attributes.

None
None


No

1
IC Title Form No. Form Name
Reducation of Tax Attributes Due to Discharge of Indebtedness (and Section 1082 Basis Adjustment) 982

  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 667 667 0 0 0 0
Annual Time Burden (Hours) 7,171 7,171 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.
07/10/2006


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