Form 982--Reduction of Tax Attributes Due to Discharge of Indebtedness (and Section 1082 Basis Adjustment)

ICR 201210-1545-006

OMB: 1545-0046

Federal Form Document

Forms and Documents
ICR Details
1545-0046 201210-1545-006
Historical Active 200908-1545-039
TREAS/IRS EC-1545-0046-006
Form 982--Reduction of Tax Attributes Due to Discharge of Indebtedness (and Section 1082 Basis Adjustment)
Extension without change of a currently approved collection   No
Regular
Approved without change 01/15/2013
Retrieve Notice of Action (NOA) 11/30/2012
  Inventory as of this Action Requested Previously Approved
01/31/2016 36 Months From Approved 01/31/2013
667 0 667
7,491 0 7,491
0 0 0

Internal Revenue Code section 108 allows taxpayers to exclude from gross income amounts attributable to discharge of indebtedness in title 11 cases, insolvency, or qualified farm indebtedness. Code section 1081(b) allows corporations to exclude from gross income amounts attributable to certain transfers of property. The data is used to verify adjustments to basis of property and reduction of tax attributes.

US Code: 26 USC 108 Name of Law: Income from discharge of indebtedness
  
None

Not associated with rulemaking

  77 FR 25783 05/01/2012
77 FR 69545 11/19/2012
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 667 667 0 0 0 0
Annual Time Burden (Hours) 7,491 7,491 0 0 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No

$0
No
No
No
No
No
Uncollected
Stephen Bronson 2029279827

  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.
11/30/2012


© 2024 OMB.report | Privacy Policy