82 FR 58693 - Proposed Information Collection; Comment Request for Regulation Project

DEPARTMENT OF THE TREASURY
Internal Revenue Service

Federal Register Volume 82, Issue 238 (December 13, 2017)

The Internal Revenue Service, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on continuing information collections, as required by the Paperwork Reduction Act of 1995. IRS is soliciting comments concerning Limitations on Net Operating Loss Carryforwards and Certain Built-in Losses and Credits Following.

[Federal Register Volume 82, Number 238 (Wednesday, December 13, 2017)]
[Notices]
[Pages 58693-58694]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-26877]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Information Collection; Comment Request for Regulation 
Project

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

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SUMMARY: The Internal Revenue Service, as part of its continuing effort 
to reduce paperwork and respondent burden, invites the general public 
and other Federal agencies to take this opportunity to comment on 
continuing information collections, as required by the Paperwork 
Reduction Act of 1995. IRS is soliciting comments concerning 
Limitations on Net Operating Loss Carryforwards and Certain Built-in 
Losses and Credits Following.

DATES: Written comments should be received on or before February 12, 
2018 to be assured of consideration.

ADDRESSES: Direct all written comments to T. Pinkston, Internal Revenue 
Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC 20224.

FOR FURTHER INFORMATION CONTACT: Please send separate comments for each

[[Page 58694]]

specific information collection listed below. You must reference the 
information collection's title, form number, reporting or record-
keeping requirement number, and OMB number (if any) in your comment. 
Requests for additional information, or copies of the information 
collection and instructions, or copies of any comments received, 
contact Elaine Christophe, at (202) 317-5745, at Internal Revenue 
Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC 20224, 
or through the internet, at [email protected].

SUPPLEMENTARY INFORMATION: 
    The IRS is seeking comments concerning the reporting and/or record-
keeping requirements of TD 8824.
    Title: Limitations on Net Operating Loss Carry-forwards and Certain 
Built-in Losses and Credits Following an Ownership Change of a 
Consolidated Group.
    OMB Number: 1545-1218.
    Regulation Project Number: TD 8824.
    Abstract: Section 1502 provides for the promulgation of regulations 
with respect to corporations that file consolidated income tax returns. 
Section 382 limits the amount of income that can be offset by loss 
carryovers and credits after an ownership change. These final 
regulations provide rules for applying section 382 to groups of 
corporations that file a consolidated return.
    Current Actions: There is no change to this existing regulation.
    Type of Review: Extension of currently approved collection.
    Affected Public: Business or other for-profit.
    Estimated Number of Respondents: 12,054.
    Estimated Time per Respondent: 20 minutes.
    Estimated Total Annual Burden Hours: 662.
    The following paragraph applies to all of the collections of 
information covered by this notice:
    An agency may not conduct or sponsor, and a person is not required 
to respond to, a collection of information unless the collection of 
information displays a valid OMB control number. Books or records 
relating to a collection of information must be retained as long as 
their contents may become material in the administration of any 
internal revenue law. Generally, tax returns and tax return information 
are confidential, as required by 26 U.S.C. 6103.
    Request for Comments: Comments submitted in response to this notice 
will be summarized and/or included in our request for Office of 
Management and Budget (OMB) approval of the relevant information 
collection. All comments will become a matter of public record. Please 
do not include any confidential or inappropriate material in your 
comments.
    We invite comments on: (a) Whether the collection of information is 
necessary for the proper performance of the agency's functions, 
including whether the information has practical utility; (b) the 
accuracy of the agency's estimate of the burden of the collection of 
information; (c) ways to enhance the quality, utility, and clarity of 
the information to be collected; (d) ways to minimize the burden of the 
collection of information on respondents, including the use of 
automated collection techniques or other forms of information 
technology; and (e) estimates of capital or start-up costs and costs of 
operation, maintenance, and purchase of services to provide the 
requested information.

    Approved: December 6, 2017.
T. Pinkston,
Supervisory Tax Analyst.
[FR Doc. 2017-26877 Filed 12-12-17; 8:45 am]
 BILLING CODE 4830-01-P