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View ICR - OIRA Conclusion

OMB Control No: 1545-1806	ICR Reference No: 200904-1545-022
Status: Historical Active	Previous ICR Reference No: 200602-1545-013
Agency/Subagency: TREAS/IRS	Agency Tracking No: ah-1806-022
Title: Asset Allocation Statement Under 338
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: 08/19/2009
	Date Received in OIRA: 05/27/2009
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	08/31/2012	36 Months From Approved	08/31/2009
Responses	201	0	201
Time Burden (Hours)	4,881	0	4,929
Cost Burden (Dollars)	0	0	0

ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to Agency Discretion
Annual Number of Responses	201	201	0
Annual Time Burden (Hours)	4,881	4,929	-48
Annual Cost Burden (Dollars)	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: Form 8883 is used to report information regarding transactions involving the deemed sale of corporate assets under section 338. We deleted the question on line 8d relating to section 936 in the definition of a target affiliate (and renumbered the subsequent lines), as the possessions tax credit has expired. The credit originally expired December 31, 2005 (IRC 936(j)(8), but was replaced by the American Samoa economic development for certain existing credit claimants for tax years beginning after December 31, 2005 and before January 1, 2008. (section 119(d) of PL 109-432). This results in a net decrease of 48 burden hours.

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