LR-58-83 (TD 7959 - Final) Related Group Election With Respect to Qualified Investments in Foreign Base Company Shipping Operations.

ICR 201005-1545-007

OMB: 1545-0755

Federal Form Document

Forms and Documents
Document
Name
Status
Supporting Statement A
2010-05-04
ICR Details
1545-0755 201005-1545-007
Historical Active 200701-1545-018
TREAS/IRS
LR-58-83 (TD 7959 - Final) Related Group Election With Respect to Qualified Investments in Foreign Base Company Shipping Operations.
Extension without change of a currently approved collection   No
Regular
Approved without change 06/19/2010
Retrieve Notice of Action (NOA) 05/19/2010
  Inventory as of this Action Requested Previously Approved
06/30/2013 36 Months From Approved 06/30/2010
100 0 100
205 0 205
0 0 0

The election described in the attached justification converted an annual election to an election effective until revoked. The computational information required is necessary to assure that the U.S. shareholder correctly reports any shipping income of its controlled foreign corporations which is taxable to that shareholder.

US Code: 26 USC 954 Name of Law: Foreign Base Company Income
   US Code: 26 USC 955 Name of Law: Withdrawal of Previously Excluded Subpart F Income from Qualified Investment
  
None

Not associated with rulemaking

  74 FR 58371 11/12/2009
75 FR 27861 05/18/2010
No

  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 100 100 0 0 0 0
Annual Time Burden (Hours) 205 205 0 0 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No

$0
No
No
No
Uncollected
No
Uncollected
Valerie Lippe 202 622-3840

  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.
05/19/2010


© 2024 OMB.report | Privacy Policy