TD 9278 - Recordkeeping requirements for the services cost method under §1.482-9(b)

Forms and Documents

Document	Type	Status	Availability

No forms / supporting documents in this ICR. Check IC Document Collections.

IC Document Collections

IC ID	Collection	Type	Status	Form
189390	Recordkeeping requirements for the services cost method under §1.482-9(b)		New

ICR Details

OMB Control No: 1545-2149	ICR Reference No: 200906-1545-003
Status: Historical Inactive	Previous ICR Reference No:
Agency/Subagency: TREAS/IRS	Agency Tracking No: db-xxxx-003
Title: TD 9278 - Recordkeeping requirements for the services cost method under §1.482-9(b)
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: 06/11/2009
OIRA Conclusion Action: Preapproved	Conclusion Date: 06/11/2009
	Date Received in OIRA: 06/08/2009
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	12/31/2009	6 Months From Approved
Responses	1,000	0	0
Time Burden (Hours)	4,500	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: This submission relates to the IRS’s recordkeeping requirements for taxpayers that select the services cost method under §1.482-9(b). The requested documents will be used to identify the transfer pricing method selected by taxpayers for such services under section 482, and satisfy the documentation requirements under §1.6662-6(d)(2)(iii) in order to avoid accuracy-related penalties on valuation misstatements under §6662. Respondents will predominately be large, multinational corporations.

Emergency Justfication: This is an emergency request. We have solicited comments through a prior NPRM. Taxpayers must receive the guidance outlined in this regulation as soon as possible. Based on the feedback from the general public, final regulations have been developed and are ready for release. Failure to adhere to these regulations could result in an adverse financial impact on the taxpaying public and hinder the mission of the IRS.

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Authorizing Statute(s): US Code: 26 USC 482 Name of Law: Allocation of Income and Deductions Among Taxpayers
   US Code: 26 USC 6662 Name of Law: Imposition of Accuracy-Related Penalty on Underpayments
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
1545-BB31	Final or interim final rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	71 FR 150	08/04/2006
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
Recordkeeping requirements for the services cost method under §1.482-9(b)

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ICR Summary of Burden

	Total Request	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	1,000	0	0	1,000	0	0
Annual Time Burden (Hours)	4,500	0	0	4,500	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: TD 9278 is final and temporary regulations related to the Treatment of Services Under Section 482 Allocation of Income and Deductions from Intangibles Stewardship Expense. This collection of information is required in order for taxpayers that adopt the services cost method or shared services arrangement under Treas. Reg. §1.482-9T(b) to satisfy regulatory requirements. The data will be used to confirm taxpayers’ adoption of the services cost method or shared services arrangement, and permit verification by the Commissioner of the total services cost incurred by the renderer of such services. Taxpayers must maintain such documentation in order to satisfy the documentation requirements contained in the net section 482 penalty exclusion provision under Treas. Reg. §1.6662-6(d). The release of these final and temporary regulations will result in an estimated increase of 1,000 responses and and a total estimated burden increase of 4,500 hours.

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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)? No

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: 06/08/2009

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