Justification Statement

From: Light Clarence O
Sent: Wednesday, November 08, 2006 10:31 AM
To: Durbala R Joseph
Subject: FW: Updated: M-3 and OMB Procedures

Attachments: 1120-PC_Schedule_M-3_Purpose_Legal_Auth.doc; 1120_Schedule_M-3_Purpose_Legal_Auth.doc; 1120-L_Schedule_M-3_Purpose_Legal_Auth.doc

Joe,

 

Actually, the legal authority is the same for all of them.  Use the para. listed in the attached files for the 1120, 1120-L, 1120-PC, 1065, and 1120S M-3s.  That is, the following.

 

Legal authority—The legal authority for Schedule M-3 (Forms 1120-PC, 1120, 1120-L, 1065, and 1120S) is Internal Revenue Code section 6011 (P.L. 105-206, Title II, Sections 2001 through 2005). Also, the Schedule M-3 (Forms 1120-PC, 1120, 1120-L, 1065, an 1120S) has been developed at the request of the U.S. Department of the Treasury and IRS, LMSB.

 

Thanks,

 

Clarence

From: Light Clarence O
Sent: Wednesday, November 08, 2006 10:26 AM
To: Durbala R Joseph
Subject: FW: Updated: M-3 and OMB Procedures

Joe,

 

Per our earlier agreement (see below), I've attached the purpose of form and legal authority for the Schedule M-3s for the 1120, 1120-L and 1120-PC.  This has probably already been done for the 1120 as it has been available since 2004, but the M-3s for Forms 1120-L and 1120-PC are new.  The M-3s for the 1065 and 1120S are assigned to Pam Terembes and Patti Ghezzi.  You can contact them to obtain the necessary information. 

 

Please contact me if yon need additional info. or you have any questions.

 

Thank you.

 

Clarence O. Light

Tax Law Specialist

SE:W:CAR:MP:T:B:C

Phone:  202-283-0130

Fax:  202-283-4544

Room NCFB C7-376

Email:  [email protected]

Emp. No.:  50-20735

 

From: Light Clarence O
Sent: Tuesday, October 24, 2006 1:04 PM
To: Bradley Barbara; Kirkland Glenn P; Durbala R Joseph; McAlpine Joan A; Williams Doris E; Becker Stephen W; Brooks Daniel V; Terembes Pamela; Ghezzi Patrice; Woolf William P; Burke Linda R; Buchanan David J; Mikesell Edward V; Freeman Curtis L; Regier Diane; Mondesir Rene
Subject: Updated: M-3 and OMB Procedures

To all:

 

Thanks to everyone for your participation in the meeting earlier today.  Based on my recollection (if anyone understood differently, please chime in) we reached the following conclusions regarding the proper OMB processing for the Schedules M-3.

 

1) The OMB number at the top right of each Schedule M-3 should match the 1065, 1120, 1120S, 1120-L, or 1120-PC.  The 1065 and 1120S may have the OMB number for the 1120?  Even though a particular M-3 can be filed with more than one return, e.g., 1065 and 1065-B and 1120 and 1120-C, we will use only the OMB number for the major form in that family on the M-3s, e.g., 1065 and 1120.

 

2) The burden numbers for each M-3 will be identified in the major form in the family (1065, 1120, 1120S, 1120-L, or 1120-PC) with a reference at the bottom of the related M-3 to the major form.  We have been doing this with other schedules, and thanks Joan for pointing that out.  Example:  At the bottom of each M-3, add "For Privacy Act and Paperwork Reduction Act notice, see the Instructions for Form 1120 and 1120A (or 1065, or 1120S, etc.). 

 

3) We need to get the following things to the OMB section ASAP; Joe will be our POC.  All can be sent to him via email.

    a)  Drafts of each Schedule M-3 and INST so the OMB section can begin calculating the burden numbers.  Patti and Pam, let's go with what we have as PDF on Early Release and last composition.  The LMSB M-3 team has assured us they don't expect many changes.

    b)  A summary of why the form was created and its purpose.  Start with the "Purpose of Schedule" in each M-3 INST.  If OMB needs more we'll oblige them. 

    c)  Legal authority for the M-3s.  I will provide this to OMB for all of them from our POCs at LMSB.

 

4) Barbara and Rene, do we need to do another early release for the 1065 and 1120S M-3s as they have an incorrect OMB number?

 

I can't think of anything else.  Thank you again.  Please contact me or anyone on the email with questions/concerns/suggestions and please reply to all if we need more discussion on this.

 

Clarence