Rev. Proc. 2011-XX, Section 9100 Relief for §§172(b)(1)(H) and 810(b)(4)(C) Elections for Consolidated Groups

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IC ID	Collection	Type	Status	Form
198413	Rev. Proc. 2011-XX, Section 9100 Relief for §§172(b)(1)(H) and 810(b)(4)(C) Elections for Consolidated Groups		New

ICR Details

OMB Control No: 1545-2214	ICR Reference No: 201107-1545-002
Status: Historical Active	Previous ICR Reference No:
Agency/Subagency: TREAS/IRS	Agency Tracking No: Requesting Approval by 8/15/11
Title: Rev. Proc. 2011-XX, Section 9100 Relief for §§172(b)(1)(H) and 810(b)(4)(C) Elections for Consolidated Groups
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: 08/15/2011
OIRA Conclusion Action: Approved without change	Conclusion Date: 07/15/2011
	Date Received in OIRA: 07/14/2011
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	01/31/2012	6 Months From Approved
Responses	50	0	0
Time Burden (Hours)	200	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: Pursuant to §301.9100-3 of the Procedure and Administration Regulations, this procedure grants certain taxpayers an extension of time to file an election described in §172(b)(1)(H) or §810(b)(4)(C) for an extended carryback period for its consolidated net operating loss or loss from operations.

Emergency Justfication: We are requesting emergency review for this submission and seeking OMB approval by 8/15/2011. The WHBAA of 2009 allows taxpayers to elect an extended carryback period for their NOLs, the due date for which has already passed. Taxpayers that qualify for the automatic extension under this revenue procedure may under current law obtain an extension only through the expensive and time-consuming PLR process. Therefore such taxpayers will have to seek an extension through the PLR process unless they they are aware of this revenue procedure prior to submitting a PLR.

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Authorizing Statute(s): US Code: 26 USC 810(b)(4) Name of Law: OPERATIONS LOSS CARRYBACKS AND CARRYOVERS
   US Code: 26 USC 172(b) Name of Law: NET OPERATING LOSS CARRYBACKS AND CARRYOVERS
  

Citations for New Statutory Requirements: PL: Pub.L. 111 - 92 13 Name of Law: Worker, Homeownership, and Business Assistance Act of 2009,

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking
	Other Documents for OIRA Review

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Federal Register Notices & Comments

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
Rev. Proc. 2011-XX, Section 9100 Relief for §§172(b)(1)(H) and 810(b)(4)(C) Elections for Consolidated Groups

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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	50	0	50	0	0	0
Annual Time Burden (Hours)	200	0	200	0	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: This revenue procedure grants certain consolidated groups an automatic extension of time pursuant to § 301.9100-3 of the Procedure and Administration Regulations to elect a 3, 4, or 5 year carryback of net operating losses or a 4 or 5 year carryback of losses from operations under section 13 of the Worker, Homeownership, and Business Assistance Act (WHBAA) of 2009 (each, an extended carryback period). The granting of this extension will result in a total estimated burden increase of 200 hours.

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Annual Cost to Federal Government:

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]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

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: 07/14/2011

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