Carryback of Consolidated Net Operating Losses to Separate Return Years.

ICR 201001-1545-002

OMB: 1545-2171

Federal Form Document

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Document
Name
Status
No forms / supporting documents in this ICR. Check IC Document Collections.
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ICR Details
1545-2171 201001-1545-002
Historical Inactive
TREAS/IRS jg-xxxx-002
Carryback of Consolidated Net Operating Losses to Separate Return Years.
New collection (Request for a new OMB Control Number)   No
Regular
Preapproved 04/15/2010
Retrieve Notice of Action (NOA) 03/02/2010
  Inventory as of this Action Requested Previously Approved
04/30/2013 36 Months From Approved
4,000 0 0
1,000 0 0
0 0 0

This project will amend §1.1502-21 to implement the revisions to Code section 172(b)(1)(H), which extend the carryback period for NOLs to five years, enacted by the Worker, Homeownership, and Business Assistance Act of 2009 ("WHBAA") that the President signed on Nov. 6, 2009 (Pub. L. 111-92).

US Code: 26 USC Section 1.1502-21T(b)(3) Name of Law: Net Operating Losses (Temporary)
   PL: Pub.L. 111 - 92 13 Name of Law: Worker, Homeownership, and Business Assistance Act of 2009
   US Code: 26 USC section 172(b) (1)(H) Name of Law: Net Operating Loss Deduction
  
PL: Pub.L. 111 - 92 13 Name of Law: Worker, Homeownership, and Business Assistance Act of 2009

1545-BJ12 Final or interim final rulemaking

No

1
IC Title Form No. Form Name
Carryback of Consolidated Net Operating Losses to Separate Return Years

  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 4,000 0 4,000 0 0 0
Annual Time Burden (Hours) 1,000 0 1,000 0 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No
This project will amend §1.1502-21 to implement the revisions to Code section 172(b)(1)(H), which extend the carryback period for NOLs to five years, enacted by the Worker, Homeownership, and Business Assistance Act of 2009 ("WHBAA") that the President signed on Nov. 6, 2009 (Pub. L. 111-92). The ammendment of these regulations result in an additional 4,000 responses and an additional 1,000 burden hours.

No
No
Uncollected
Uncollected
No
Uncollected
Grid Glyer 202 622-7930

  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.
03/02/2010


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