Reconciliation of Schedule M-3 Taxable Income with Tax Return Taxable Income for Mixed Groups

Forms and Documents

Document Name	Status
Form 8916 Reconciliation of Schedule M-3 Taxable Income with Tax Return Taxable Income for Mixed Groups Form and Instruction	New
Just_Emerg.doc Justification for No Material/Nonsubstantive Change	2006-11-29
ombat2.doc Supplementary Document	2006-11-29
brdn_busi.pdf Supplementary Document	2006-11-29
Supporting statement-8916.doc Supporting Statement A	2006-11-29

IC Document Collections

IC ID	Document Title	Status
46218	Reconciliation of Schedule M-3 Taxable Income with Tax Return Taxable Income for Mixed Groups Form and Instruction	New

ICR Details

OMB Control No: 1545-2062	ICR Reference No: 200611-1545-038
Status: Historical Active	Previous ICR Reference No:
Agency/Subagency: TREAS/IRS	Agency Tracking No:
Title: Reconciliation of Schedule M-3 Taxable Income with Tax Return Taxable Income for Mixed Groups
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  No
Type of Review Request: Emergency	Approval Requested By: 01/29/2007
OIRA Conclusion Action: Approved without change	Conclusion Date: 01/26/2007
	Date Received in OIRA: 01/26/2007
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	07/31/2007	6 Months From Approved
Responses	500	0	0
Time Burden (Hours)	3,385	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: The Form 8916 reconciles taxable income per the Schedule M-3 for the Forms 1120, 1120-L, or 1120-PC with the taxable income on mixed groups filing Form 1120, 1120-L, or 1120-PC. This is necessary because certain special adjustments are required to match taxable income of mixed groups as reported on the Schedule M-3 with taxable income they report on Forms 1120, 1120-L, or 1120-PC.

Emergency Justfication: The Form 8916 is a required attachment to the 1120, 1120-L, and 1120-PC Schedule M-3s for certain filers referred to as “mixed groups.” If the Form 8916 is not available it cannot be attached to the Schedule M-3 submitted by these taxpayers, and these taxpayers will be unable to file an accurate and complete Schedule M-3 as required under Internal Revenue Code section 6011 (P.L. 105-206, Title II, Section 2001 through 2005). Also, if the Form 8916 is not available for filing by taxpayers, the Internal Revenue Service will be unable to accomplish the stated mission of the Schedule M-3 initiative supported by LMSB and the U.S. Department of the Treasury, which is obtaining greater transparency of taxpayer books and records.

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Authorizing Statute(s): None

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Reconciliation of Schedule M-3 Taxable Income with Tax Return Taxable Income for Mixed Groups	8916	Reconciliation of Schedule M-3 Taxable Income with Tax Return Taxable Income for Mixed Groups

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ICR Summary of Burden

	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	0	0	500	0	0
Annual Time Burden (Hours)	3,385	0	0	3,385	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Changing Regulations

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: This is a new form. Form 8916 reconciles taxable income per the Schedule M-3 for the Forms 1120, 1120-L, or 1120-PC with the taxable income on mixed groups filing Form 1120, 1120-L, or 1120-PC.

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Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? Uncollected

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? Uncollected

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? Uncollected

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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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:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(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;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

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.

Certification Date: 01/26/2007

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