Consent To Extend the Time to Assess the Branch Profits Tax Under Regulations Sections 1.884-2(a) and (c)

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Form 8848 Consent To Extend the Time to Assess the Branch Profits Tax Under Regulations Sections 1.884-2(a) and (c)	Form and Instruction	Modified	Available
SSf8848.doc	Supporting Statement A	Uploaded 2008-08-07	Available
Expiration Explanation.rtf	Supplementary Document	Uploaded 2008-08-07	Available
burden.PDF	Supplementary Document	Uploaded 2008-08-07	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
18255	Consent To Extend the Time to Assess the Branch Profits Tax Under Regulations Sections 1.884-2(a) and (c)	Form and Instruction	Modified

ICR Details

OMB Control No: 1545-1407	ICR Reference No: 200808-1545-002
Status: Historical Active	Previous ICR Reference No: 200507-1545-002
Agency/Subagency: TREAS/IRS	Agency Tracking No: ah-1407-002
Title: Consent To Extend the Time to Assess the Branch Profits Tax Under Regulations Sections 1.884-2(a) and (c)
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 10/09/2008
	Date Received in OIRA: 08/29/2008
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	10/31/2011	36 Months From Approved	10/31/2008
Responses	5,000	0	5,000
Time Burden (Hours)	22,500	0	22,500
Cost Burden (Dollars)	0	0	0

---

Abstract: Form 8848 is used by foreign corporations that have (a) completely terminated all of their U.S. trade or business within the meaning of Temporary Regulations section 1.884-2T(a) during the tax year or (b) transferred their U.S. assets to a domestic corporation in a transaction described in Code section 381(a), if the foreign corporation was engaged in a U.S. trade or business at that time.

---

Authorizing Statute(s): US Code: 26 USC 381(a) Name of Law: General rule for carryovers in certain corporate acquisitions.
  

Citations for New Statutory Requirements: None

---

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

---

Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	73 FR 31193	05/30/2008
30-day Notice:	Federal Register Citation:	Citation Date:
	73 FR 50667	08/27/2008
Did the Agency receive public comments on this ICR? No

---

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

table that charts list of burden

IC Title	Form No.	Form Name
Consent To Extend the Time to Assess the Branch Profits Tax Under Regulations Sections 1.884-2(a) and (c)	8848	Consent to Extend Time to Assess the Branch Profits Tax Under REgulations Sections 1.884-2(a) and (c).

---

ICR Summary of Burden

table that charts list 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	5,000	5,000	0	0	0	0
Annual Time Burden (Hours)	22,500	22,500	0	0	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

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

Burden Increase Due to:

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

Burden Reduction Due to:

Short Statement:

---

Annual Cost to Federal Government: $470

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

---

Common Form ICR:  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:

(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: 08/29/2008

---