TD 9187 (Final) Extensions of Time to Elect Method for Determining Allowable Loss

Forms and Documents

Document	Type	Status	Availability
Ann 2005-25.pdf	Supplementary Document	Uploaded 2010-12-16	Available
REG-135898-04.pdf	Supplementary Document	Uploaded 2010-12-16	Available
1545-1774_Supp-Stmnt_REV30APR2014.doc	Supporting Statement A	Uploaded 2014-04-30	Available

IC Document Collections

IC ID	Collection	Type	Status	Form
19345	TD 9187(Final) Extensions of Time to Elect Method for Determining Allowable Loss		Modified

ICR Details

OMB Control No: 1545-1774	ICR Reference No: 201402-1545-030
Status: Historical Active	Previous ICR Reference No: 201012-1545-028
Agency/Subagency: TREAS/IRS	Agency Tracking No: sc 1545-030
Title: TD 9187 (Final) Extensions of Time to Elect Method for Determining Allowable Loss
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 11/07/2014
	Date Received in OIRA: 04/30/2014
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	11/30/2017	36 Months From Approved	11/30/2014
Responses	3,850	0	18,360
Time Burden (Hours)	7,700	0	36,720
Cost Burden (Dollars)	0	0	0

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Abstract: The regulations disallow certain losses recognized on sales of subsidiary stock by members of a consolidated group and apply to corporations filing consolidated returns, both during and after the period of affiliation, and also affect purchasers of the stock of members of a consolidated group. The information is necessary to allow the taxpayer to make certain elections to determine the amount of allowable loss under sec. 1.337(d)-2 and under sec. 1.1502-32(b)(4), to amend its waiver so that it may use its acquired subsidiary's losses.

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Authorizing Statute(s): US Code: 26 USC 337 Name of Law: Nonrecognition for property distributed to parent in complete liquidation of subsidiary
   US Code: 26 USC 1502 Name of Law: Regulations
   US Code: 26 USC 6103 Name of Law: Confidentiality and disclosure of returns and return information
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	78 FR 66423	11/05/2013
30-day Notice:	Federal Register Citation:	Citation Date:
	79 FR 24063	04/29/2014
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
TD 9187(Final) Extensions of Time to Elect Method for Determining Allowable Loss

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ICR Summary 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	3,850	18,360	0	-14,510	0	0
Annual Time Burden (Hours)	7,700	36,720	0	-29,020	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: Yes

Burden Reduction Due to: Changing Regulations

Short Statement: Previous information collections requirements prescribed under §1.1502-20 were removed and reserved by TD 9424 on September 17, 2008 (73 FR 53934). The burden associated with this section has been removed. The reduction of 29,020 is attributed to a program change.

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Annual Cost to Federal Government: $0

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: 04/30/2014

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