Final Tax Treatment of Salvage and Reinsurance

ICR 201508-1545-001

OMB: 1545-1227

Federal Form Document

Forms and Documents
Document
Name
Status
Supporting Statement A
2015-08-03
IC Document Collections
ICR Details
1545-1227 201508-1545-001
Historical Active 201207-1545-020
TREAS/IRS
Final Tax Treatment of Salvage and Reinsurance
Extension without change of a currently approved collection   No
Regular
Approved without change 11/09/2015
Retrieve Notice of Action (NOA) 09/30/2015
  Inventory as of this Action Requested Previously Approved
11/30/2018 36 Months From Approved 11/30/2015
2,500 0 2,500
5,000 0 5,000
0 0 0

The regulation provides a disclosure requirement for an insurance company that increases losses shown on its annual statement by the amount of estimated salvage recoverable taken into account.

US Code: 26 USC 832(b)(3) Name of Law: Underwriting income
   US Code: 26 USC 832(b)(5) Name of Law: Losses incurred
  
None

Not associated with rulemaking

  80 FR 31458 06/02/2015
80 FR 58811 09/30/2015
No

1
IC Title Form No. Form Name
Final Tax Treatment of Salvage and Reinsurance (TD 8857- final)

  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 2,500 2,500 0 0 0 0
Annual Time Burden (Hours) 5,000 5,000 0 0 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No

$0
No
No
No
No
No
Uncollected
Katherine Hossofsky 202 622-3970

  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.
09/30/2015


© 2024 OMB.report | Privacy Policy