REG-143544-04 Regulations Enabling Elections for Certain Transaction Under Section 336(e)

ICR 201302-1545-023

OMB: 1545-2125

Federal Form Document

Forms and Documents
Document
Name
Status
No forms / supporting documents in this ICR. Check IC Document Collections.
IC Document Collections
ICR Details
1545-2125 201302-1545-023
Historical Inactive 200805-1545-003
TREAS/IRS Final 1545-BD84; ah-2125-003
REG-143544-04 Regulations Enabling Elections for Certain Transaction Under Section 336(e)
New collection (Request for a new OMB Control Number)   No
Regular
Preapproved 07/03/2013
Retrieve Notice of Action (NOA) 05/08/2013
  Inventory as of this Action Requested Previously Approved
07/31/2016 36 Months From Approved
500 0 0
1,000 0 0
0 0 0

This document contains regulations under section 336(e) regarding situations whereby a corporation can elect to treat certain sales, exchanges, or distributions of subsidiary stock as an asset sale. The information being collected relates to the making of the section 336(e) election. The collection of information will notify the IRS when as election under section 336(e) is made and will provide relevant information pertaining to the parties making the election.

US Code: 26 USC 336(e) Name of Law: Certain stock sales and distributions may be treated as asset transfers.
  
None

1545-BD84 Final or interim final rulemaking

No

1
IC Title Form No. Form Name
REG-143544-04 Regulations Enabling Elections for Certain Transaction Under Section 336(e)

  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 500 0 0 500 0 0
Annual Time Burden (Hours) 1,000 0 0 1,000 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
Yes
Changing Regulations
No
The treasury decision provides that a section 336(e) election is made by attaching a statement to a timely filed Federal income tax return of the seller for the taxable year which includes the disposition date. If the seller is a member of a consolidated group, the statement is filed with the consolidated return of the consolidated group. If the target is an S corporation, all of the S corporation shareholders, including those who do not sell their S corporation stock, must consent to the election, and the section 336(e) election statement for an S corporation target is filed with the income tax return of the S corporation target. We estimate that this requirement will affect approximately 500 respondents per year and take 2 hours each for a total of 1000 hours.

$0
No
No
No
No
No
Uncollected
Mark Weiss 202 622-7750 [email protected]

  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.
05/08/2013


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