Justification Statement

2006 Form 8916

Justification for Emergency Submission

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.

2006 Form 8916-A

Justification for Emergency Submission

The Form 8916-A is a required attachment to the 1120, 1120S, and 1065 Schedule M-3s for certain filers that are reporting a reconciliation of cost of goods on the Schedule M-3. If the Form 8916-A 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-A 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.