INTL-399-88 (Final) Treatment of Dual Consolidated Losses

ICR 200711-1545-001

OMB: 1545-1083

Federal Form Document

Forms and Documents
Document
Name
Status
Supporting Statement A
2007-11-01
IC Document Collections
IC ID
Document
Title
Status
17793
Modified
ICR Details
1545-1083 200711-1545-001
Historical Active 200410-1545-020
TREAS/IRS ah-1083-001
INTL-399-88 (Final) Treatment of Dual Consolidated Losses
Extension without change of a currently approved collection   No
Regular
Approved without change 03/05/2008
Retrieve Notice of Action (NOA) 12/27/2007
  Inventory as of this Action Requested Previously Approved
03/31/2011 36 Months From Approved 03/31/2008
500 0 500
1,620 0 1,620
0 0 0

Section 1503(d) denies use of the losses of one domestic corporation by another affiliated domestic corporation where the loss corporation is also subject to the income tax of another country. The regulation allows an affiliate to make use of the loss if the loss has not been used in the foreign group, to take the loss into income upon future use of the loss in the foreign country. The regulation also requires separate accounting for a dual consolidated loss where the dual resident corporation files a consolidated return.

US Code: 26 USC 1503(d) Name of Law: Dual consolidated loss
  
None

Not associated with rulemaking

  72 FR 48732 08/24/2007
72 FR 73422 12/27/2007
No

1
IC Title Form No. Form Name
INTL-399-88 (Final) Treatment of Dual Consolidated Losses

  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 500 500 0 0 0 0
Annual Time Burden (Hours) 1,620 1,620 0 0 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No

$0
No
No
Uncollected
Uncollected
Uncollected
Uncollected
Michael Frankel 202 622-3860

  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.
12/27/2007


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