1000.sup

1000.SUP.doc

Ownership Certificate

OMB: 1545-0054

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Supporting Statement

(Form 1000)


1. CIRCUMSTANCES NECESSITATING COLLECTION OF INFORMATION


Income Tax Regulations section 1.1461-1(a) provides that citizens, resident individuals, fiduciaries, partnerships, and nonresident partnerships all of the members of which are citizens or residents, owning bonds, mortgages, or deeds of trust, or other similar obligations issued by a domestic corporation, a resident foreign corporation, or a nonresident foreign corporation having a fiscal or paying agent in the United States, shall when presenting interest coupons for payment, file ownership certificates for each issue for such obligation issued before January 1, 1934, and containing a tax-free covenant. This rule shall apply without regard to the amount of the interest coupons.


2. USE OF DATA


Form 1000 is used by the IRS to verify that the correct amount of tax was withheld.


3. USE OF IMPROVED INFORMATION TECHNOLOGY TO REDUCE BURDEN


We have no plans to offer electronic filing because of low filing volume compared to cost of electronic enabling.


4. EFFORTS TO IDENTIFY DUPLICATION


We have attempted to eliminate duplication within the agency wherever possible.


5. METHODS TO MINIMIZE BURDEN ON SMALL BUSINESSES OR OTHER SMALL ENTITIES


Not applicable.


6. CONSEQUENCES OF LESS FREQUENT COLLECTION ON FEDERAL PROGRAMS OR POLICY ACTIVITIES


Not applicable.


  1. SPECIAL CIRCUMSTANCES REQUIRING DATA COLLECTION TO BE INCONSISTENT WITH GUIDELINES IN 5 CFR 1320.5(d)(2)


Not applicable.




  1. CONSULTATION WITH INDIVIDUALS OUTSIDE OF THE AGENCY ON AVAILABILITY OF DATA, FREQUENCY OF COLLECTION, CLARITY OF INSTRUCTIONS AND FORMS, AND DATA ELEMENTS


Periodic meetings are held between IRS personnel and representatives of the American Bar Association, the National Society of Public Accountants, the American Institute of Certified Public Accountants, and other professional groups to discuss tax law and tax forms. During these meetings, there is an opportunity for those attending to make comments regarding Form 1000.


In response to the Federal Register Notice dated August 20, 2009 (74 FR 42155), we received no comments during the comment period regarding Form 1000.


  1. EXPLANATION OF DECISION TO PROVIDE ANY PAYMENT OR GIFT TO RESPONDENTS


Not applicable.


10. ASSURANCE OF CONFIDENTIALITY OF RESPONSES


Generally, tax returns and tax return information are confidential as required by 26 USC 6103.


11. JUSTIFICATION OF SENSITIVE QUESTIONS


Not applicable.


12. ESTIMATED BURDEN OF INFORMATION COLLECTION


Number of Time per Total

Form Responses Response Hours


1000 1,500 3.36 5,040


Estimates of annualized cost to respondents for the hour burdens shown above are not available at this time.


Reporting regulations which impose no additional burden.


1.1451-1 1.1451-2 1.1461-1 thru -4


We have reviewed these regulations and have determined that the reporting requirements contained in them are entirely reflected on the form. The justification appearing in item 1 of the supporting statement applies both to these regulations and to the form.


13. ESTIMATED TOTAL ANNUAL COST BURDEN TO RESPONDENTS


As suggested by OMB, our Federal Register Notice dated August 20, 2009 (74 FR 42155), requested public comments on estimates of cost burden that are not captured in the estimates of burden hours, i.e., estimates of capital or start-up costs and costs of operation, maintenance, and purchase of services to provide information. However, we did not receive any responses from taxpayers on this subject. As a result, estimates of these cost burdens are not available at this time.


14. ESTIMATED ANNUALIZED COST TO THE FEDERAL GOVERNMENT


The primary cost to the government consists of the cost of printing this form. We estimate that the cost of printing the form is $900.


15. REASONS FOR CHANGE IN BURDEN


There is no change in the paperwork burden previously approved by OMB.


This submission is being made for renewal purposes.


16. PLANS FOR TABULATION, STATISTICAL ANALYSIS AND PUBLICATION


Not applicable.


  1. REASONS WHY DISPLAYING THE OMB EXPIRATION DATE IS INAPPROPRIATE


See attachment.


  1. EXCEPTION TO THE CERTIFICATION STATEMENT ON OMB FORM 83-I


Not applicable.





Note: The following paragraph applies to all of the collections of information in this submission:


An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless the collection of information displays a valid OMB control number. Books or records relating to a collection of information must be retained as long as their contents may become material in the administration of any internal revenue law. Generally, tax returns and tax return information are confidential, as required by 26 U.S.C. 6103.





File Typeapplication/msword
File TitleSupporting Statement
AuthorJ11FB
Last Modified ByJ11FB
File Modified2009-12-02
File Created2009-12-02

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