Treatment of Dual Consolidated Losses

ICR 201705-1545-019

OMB: 1545-1083

Federal Form Document

Forms and Documents
Document
Name
Status
Supplementary Document
2014-03-24
Supplementary Document
2014-03-24
Supplementary Document
2014-03-24
Supporting Statement A
2017-06-09
IC Document Collections
ICR Details
1545-1083 201705-1545-019
Historical Active 201403-1545-018
TREAS/IRS
Treatment of Dual Consolidated Losses
Extension without change of a currently approved collection   No
Regular
Approved without change 09/12/2017
Retrieve Notice of Action (NOA) 07/17/2017
  Inventory as of this Action Requested Previously Approved
09/30/2020 36 Months From Approved 09/30/2017
896 0 896
1,620 0 1,620
0 0 0

Section 1503(d) denies use of the losses of one domestic corporation by another affiliated domestic corporation where the loss corporation is also subject to the income tax of another country. The regulation allows an affiliate to make use of the loss if the loss has not been used in the foreign group, to take the loss into income upon future use of the loss in the foreign country. The regulation also requires separate accounting for a dual consolidated loss where the dual resident corporation files a consolidated return.

US Code: 26 USC 1503(d) Name of Law: Dual consolidated loss
  
None

Not associated with rulemaking

  82 FR 15102 03/24/2017
82 FR 32053 07/11/2017
No

1
IC Title Form No. Form Name
TD 8434 - Treatment of Dual Consolidated Losses (INTL-399-88)

  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 896 896 0 0 0 0
Annual Time Burden (Hours) 1,620 1,620 0 0 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No

$0
No
    No
    No
No
No
No
Uncollected
Michael Frankel 202 622-3860

  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.
07/17/2017


© 2024 OMB.report | Privacy Policy