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View Information Collection (IC) List
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Please note that the OMB number and expiration date may not have been determined when this Information Collection Request and associated Information Collection forms were submitted to OMB. The approved OMB number and expiration date may be found by clicking on the Notice of Action link below.
View ICR - OIRA Conclusion
OMB Control No:
1545-0123
ICR Reference No:
200712-1545-002
Status:
Historical Active
Previous ICR Reference No:
200701-1545-044
Agency/Subagency:
TREAS/IRS
Agency Tracking No:
LM-1545-0123-018
Title:
Form 1120, U.S. Corp. Income Tax Return, Schedule D, Capital Gains and Losses, Schedule H, Section 280H Limitations for a Personal Service Corporation (PSC), Schedule N, Foreign .........
Type of Information Collection:
No material or nonsubstantive change to a currently approved collection
Common Form ICR:
No
Type of Review Request:
Regular
OIRA Conclusion Action:
Approved without change
Conclusion Date:
12/31/2007
Retrieve Notice of Action (NOA)
Date Received in OIRA:
12/17/2007
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
01/31/2010
01/31/2010
01/31/2010
Responses
4,957,967
0
4,957,967
Time Burden (Hours)
364,168,243
0
372,599,655
Cost Burden (Dollars)
0
0
0
Abstract:
Schedule O (Form 1120), Consent Plan and Apportionment Schedule for a Controlled Group, was developed to carry out the provisions reflected in the revisions to the regulations under sections 1561 and 1563 and includes the information formerly reported on Schedule J of Form 1120, or the applicable tax computation schedule, and the previously required attachment.
Authorizing Statute(s):
US Code:
26 USC 6011
Name of Law: General requirement of return, statement, or list
US Code:
26 USC 1561
Name of Law: Limitations on certain multiple tax benefits in the case of certain controlled corporations
US Code:
26 USC 1563
Name of Law: Definitions and special rules
Citations for New Statutory Requirements:
None
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
Not associated with rulemaking
Federal Register Notices & Comments
60-day Notice:
Federal Register Citation:
Citation Date:
71 FR 44767
08/07/2006
30-day Notice:
Federal Register Citation:
Citation Date:
71 FR 66365
11/14/2006
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
2
IC Title
Form No.
Form Name
Consent Plan and Apportionment Schedule for a Controlled Group
Schedule O (Form 1120)
Consent Plan and Apportionment Schedule for a Controlled Group
Form 1120, U.S. Corp. Income Tax Return, Schedule D, Capital Gains and Losses, Schedule H, Section 280H Limitations for a Personal Service Corporation (PSC), Schedule N, Foreign .........
Schedule H (Form 1120), 1120, Schedule PH (Form 1120), Schedule M-3 (Form 1120), Schedule D (Form 1120), Schedule N (1120), TY 2007 Shecule M-3 (Form 1120)
U.S. Corporation Income Tax Return
,
Capital Gains and Losses
,
Section 280H Limitations for a Personal Service Corporation (PSC)
,
Net Income (Loss) Reconciliation for Corporations With Total Assets of $10 Million or More
,
Foreign Operations of U.S. Corporations
,
U.S. Personal Holding Company (PHC) Tax
,
Net Income (Loss) Reconciliation for Corporations With Total Assets of $10 Million or More
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
4,957,967
4,957,967
0
0
0
0
Annual Time Burden (Hours)
364,168,243
372,599,655
0
-8,431,412
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:
Yes
Burden Reduction Due to:
Changing Forms
Short Statement:
Changes to the form and schedules to reduce redundancy and corrections to previous burden computations resulted in a total burden decrease of 8,431,412 hours.
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]?
Uncollected
Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]?
Uncollected
Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)?
Uncollected
Is this ICR related to the Pandemic Response?
Uncollected
Agency Contact:
Linda Burke 202 622-3092
Common Form ICR:
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:
(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:
12/17/2007
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