Notice 2007-99 (NOT-103443-07) Statute of Limitations on Assessment Concerning Certain Individuals Filing Income Tax Returns with the USVI

Forms and Documents

Document Name	Status
NOT-103443-07_Form 83-I Supporting Statement.doc Supporting Statement A	2007-01-29
NOT-103443-07(checked).doc Supplementary Document	2007-01-29

IC Document Collections

IC ID	Document Title	Status
178505	Notice 2007-99 (NOT-103443-07) Statute of Limitations on Assessment Concerning Certain Individuals Filing Income Tax Returns with the USVI.	New

ICR Details

OMB Control No: 1545-2063	ICR Reference No: 200701-1545-031
Status: Historical Active	Previous ICR Reference No:
Agency/Subagency: TREAS/IRS	Agency Tracking No: ah-XXXX-031
Title: Notice 2007-99 (NOT-103443-07) Statute of Limitations on Assessment Concerning Certain Individuals Filing Income Tax Returns with the USVI
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  No
Type of Review Request: Emergency	Approval Requested By: 01/30/2007
OIRA Conclusion Action: Approved without change	Conclusion Date: 01/31/2007
	Date Received in OIRA: 01/30/2007
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	07/31/2007	6 Months From Approved
Responses	8,500	0	0
Time Burden (Hours)	42,500	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: This notice provides interim guidance, pending the issuance of regulations, concerning the statute of limitations on assessment for the U.S. income tax liability. If any, of U.S. citizens or resident aliens claiming to be bona fide residents of the US Virgin Islands (USVI). In addition, notice provides new information reporting rules for certain taxpayers claiming to be bona fide residents of the USVI,

Emergency Justfication: We are requesting emergency review of this submission and seek OMB approval by January 30, 2007. This Notice provides critical guidance to individual taxpayers with respect to tax years ending on or after December 31, 2006, and thus is timely guidance with respect to the filing season for 2006 returns. With respect to such returns, the information in this notice explains how bona fide residents of the USVI start the period of limitations by either: (a) filing a return with the USVI tax administration, provided the individual has less than $75,000 of gross income during the year, or (b) in the case of individuals with $75,000 or more of gross income during the taxable year, filing an income tax return with the USVI tax administration and a separate income tax return with the IRS. The proposed notice addresses an area of the tax law drawing comments and/or requests for immediate guidance from taxpayers, the USVI government, and Congress. Included in this notice is a new information reporting requirement for certain U.S. citizens and residents claiming bona fide residency status in the USVI for taxable years ending on or after December 31, 2006. Because the 2006 return filing season has already commenced, it would be detrimental to the mission of the IRS and to legitimate expectations of taxpayers if the IRS does not provide guidance to affected taxpayers with respect to the statute of limitations and this information reporting requirement as soon as possible. The International Tax Counsel at Treasury as well as the Associate Chief Counsel (International) have instructed us to publish this notice at the earliest possible date. OMB review is the only step remaining before this notice can be released. For the foregoing reasons, it is critical that OMB review and process the notice as soon as possible.

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Authorizing Statute(s): US Code: 44 USC 3507 Name of Law: null
  

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: 1

IC Title	Form No.	Form Name
Notice 2007-99 (NOT-103443-07) Statute of Limitations on Assessment Concerning Certain Individuals Filing Income Tax Returns with the USVI.

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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	8,500	0	0	8,500	0	0
Annual Time Burden (Hours)	42,500	0	0	42,500	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: New collection.

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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

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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: 01/30/2007

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