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View ICR - OIRA Conclusion

OMB Control No: 1545-2125	ICR Reference No: 201302-1545-023
Status: Historical Inactive	Previous ICR Reference No: 200805-1545-003
Agency/Subagency: TREAS/IRS	Agency Tracking No: Final 1545-BD84; ah-2125-003
Title: REG-143544-04 Regulations Enabling Elections for Certain Transaction Under Section 336(e)
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR: No
Type of Review Request: Regular
OIRA Conclusion Action: Preapproved	Conclusion Date: 07/03/2013
	Date Received in OIRA: 05/08/2013
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	07/31/2016	36 Months From Approved
Responses	500	0	0
Time Burden (Hours)	1,000	0	0
Cost Burden (Dollars)	0	0	0

ICR Summary of Burden

	Total Request	Change Due to Agency Discretion
Annual Number of Responses	500	500
Annual Time Burden (Hours)	1,000	1,000
Annual Cost Burden (Dollars)	0	0

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

Burden Increase Due to: Changing Regulations

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

Burden Reduction Due to:

Short Statement: The treasury decision provides that a section 336(e) election is made by attaching a statement to a timely filed Federal income tax return of the seller for the taxable year which includes the disposition date. If the seller is a member of a consolidated group, the statement is filed with the consolidated return of the consolidated group. If the target is an S corporation, all of the S corporation shareholders, including those who do not sell their S corporation stock, must consent to the election, and the section 336(e) election statement for an S corporation target is filed with the income tax return of the S corporation target. We estimate that this requirement will affect approximately 500 respondents per year and take 2 hours each for a total of 1000 hours.

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