Revenue Procedure 121526-09, Extension of Time to File Entity Classification Elections

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
SUPPORTING_STATEMENT_RP-121526-09[1].doc	Supporting Statement A	Uploaded 2009-08-18	Available
RP 2002-59.pdf	Supplementary Document	Uploaded 2009-08-12	Available
Justificatio1.doc	Justification for No Material/Nonsubstantive Change	Uploaded 2009-08-10	Available
RP-121526-09 (04-24-09)(checked).doc	Supplementary Document	Uploaded 2009-08-10	Available
RP-2002-15.pdf	Supplementary Document	Uploaded 2008-06-02	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
19333	Revenue Procedure 2002-15, Automatic Relief for Late Initial Entity Classification Elections-Check the Box		Removed
190271	Revenue Procedure 121526-09, Extension of Time to File Entity Classification Elections		New

ICR Details

OMB Control No: 1545-1771	ICR Reference No: 200908-1545-008
Status: Historical Active	Previous ICR Reference No: 200806-1545-001
Agency/Subagency: TREAS/IRS	Agency Tracking No: ah-1771-001
Title: Revenue Procedure 121526-09, Extension of Time to File Entity Classification Elections
Type of Information Collection: No material or nonsubstantive change to a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 02/01/2010
	Date Received in OIRA: 12/03/2009
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	09/30/2011	09/30/2011	09/30/2011
Responses	300	0	100
Time Burden (Hours)	4,554	0	100
Cost Burden (Dollars)	0	0	0

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Abstract: Revenue Procedure 121526-09 supercedes Revenue Procedure 2002-15. The revenue procedure provides specific requirements eligible entities must meet in order to seek extensions of time to file entity classification elections.

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Authorizing Statute(s): US Code: 26 USC 7701 Name of Law: Definitions
  

Citations for New Statutory Requirements: None

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

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	73 FR 15839	03/25/2008
30-day Notice:	Federal Register Citation:	Citation Date:
	73 FR 43976	07/29/2008
Did the Agency receive public comments on this ICR? No

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

table that charts list of burden

IC Title	Form No.	Form Name
Revenue Procedure 2002-15, Automatic Relief for Late Initial Entity Classification Elections-Check the Box
Revenue Procedure 121526-09, Extension of Time to File Entity Classification Elections

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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	300	100	0	200	0	0
Annual Time Burden (Hours)	4,554	100	0	4,454	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: Miscellaneous Actions

Burden decreases because of Program Change due to Agency Discretion: Yes

Burden Reduction Due to: Miscellaneous Actions

Short Statement: Revenue procedure 121526-09 provides guidance under § 7701 of the Internal Revenue Code both for an eligible entity that requests relief for a late classification election filed within 36 months and 75 days of the requested effective date of the eligible entity’s classification and for those eligible entities that are still required to request a letter ruling in order to make a late entity classification election. This revenue Procedure 121526-09 modifies and supercedes Revenue Procedure 2002-59. RP 2002-59 modified and supersedes RP 2002-15. These changes result in an increase of 4454 burden 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: 12/03/2009

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