Revenue Procedure 2017-52; 2017-1; 2017-3, Rulings and determination letters - 26 CFR 601-.201

Forms and Documents

Document Name	Status
1545-1522 - Rev. Proc. 2017-52.docx Supplementary Document	2017-09-22
1545-1522 Supporting Statement 2017-09-07.doc Supporting Statement A	2017-09-22

IC Document Collections

IC ID	Document Title	Status
227843	RP 2017-XX Ruling and determination letters	New
193037	RP 2017-1; RP 2017-3 - Ruling and determination letters	Modified

ICR Details

OMB Control No: 1545-1522	ICR Reference No: 201707-1545-022
Status: Historical Active	Previous ICR Reference No: 201512-1545-024
Agency/Subagency: TREAS/IRS	Agency Tracking No:
Title: Revenue Procedure 2017-52; 2017-1; 2017-3, Rulings and determination letters - 26 CFR 601-.201
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Emergency	Approval Requested By: 09/29/2017
OIRA Conclusion Action: Approved without change	Conclusion Date: 11/25/2017
	Date Received in OIRA: 09/22/2017
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	05/31/2018	6 Months From Approved	08/31/2019
Responses	3,986	0	3,956
Time Burden (Hours)	326,436	0	316,020
Cost Burden (Dollars)	0	0	0

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Abstract: Rev. Proc. 2017-XX (1)introduces a pilot program expanding the scope of letter rulings available from the Internal Revenue Service (Service) to include rulings on the tax consequences of a distribution of stock and securities of a controlled corporation under § 355 for a specified period of time (see section 6 of this revenue procedure), (2) provides procedures for taxpayers requesting these rulings, and (3) clarifies procedures for taxpayers requesting rulings on significant issues relating to these transactions. These Revenue Procedures explain how the Service provides advice to taxpayers on issues under the jurisdiction of the Associate Chief Counsel (Corporate), the Associate Chief Counsel (Financial Institutions and Products), the Associate Chief Counsel (Income Tax and Accounting), the Associate Chief Counsel (International), the Associate Chief Counsel (Passthroughs and Special Industries), the Associate Chief Counsel (Procedure and Administration), and the Associate Chief Counsel (Tax Exempt and Government Entities). It explains the forms of advice and the manner in which advice is requested by taxpayers and provided by the Service. This information is required to evaluate and process the request for a letter ruling or determination letter.

Emergency Justfication: The IRS released Revenue Procedure 2017-52 to the public on Sept 21, 2017, which (1) introduces a pilot program expanding the scope of letter rulings available from the Internal Revenue Service (Service) to include for a period of time (see section 6 of this revenue procedure) rulings on the tax consequences of a distribution of stock, or stock and securities, of a controlled corporation under § 355 of the Internal Revenue Code (Code), (2) provides procedures for taxpayers requesting these rulings, and (3) clarifies procedures for taxpayers requesting rulings on significant issues relating to these transactions. Since this Revenue Procedure could not be released for public comment previously and has immediate effect, it is being submitted for review using emergency clearance procedures. OMB action is requested by 9/29/2017 so that taxpayers will be able to take advantage of the expanded availability of private letter rulings as soon as possible.

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Authorizing Statute(s): US Code: 26 USC 7805 Name of Law: Rules and Regulations
  

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

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 2

IC Title	Form No.	Form Name
RP 2017-1; RP 2017-3 - Ruling and determination letters
RP 2017-XX Ruling and determination letters

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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	3,986	3,956	0	30	0	0
Annual Time Burden (Hours)	326,436	316,020	0	10,416	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Miscellaneous Actions

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: Revenue Procedure 2017-52 modifies and amplifies Revenue Procedures 2017-1 and 2017-3. No current information collection requirements will be removed/deleted. Section 3 of 2017-52 will add new information collection requirements to 2017-1 and 2017-3. Section 4 of 2017-52 will update the current information collection requirements found in 2017-1 and 2017-3. These changes to 2017-01 and 2017-03 will increase the estimated average burden per respondent to 81 hours, resulting in an addition of 4,416 hours of burden across all respondents. 2017-52 is also expected tin increase the estimated number of respondents and/or record-keepers to 3,986 [increase of 30 from current number of 3,956]. This increase in respondents will add a further 6,000 hours of burden. Overall, the estimated total annual reporting and/or recordkeeping burden will be 322,480 hours [increase of 10,416 hours from current number of 316,020].

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Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     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: 09/22/2017

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