Rulings and determination letters. (RP 2022-1, RP 2022-10)

Forms and Documents

Document Name	Status
Supporting Statement.docx Supporting Statement A	2022-03-11

IC Document Collections

IC ID	Document Title	Status
227843	RP 2022-10 Ruling and determination letters	Modified
193037	RP 2021-1; RP 2022-1 - Ruling and determination letters	Modified

ICR Details

OMB Control No: 1545-1522	ICR Reference No: 202202-1545-012
Status: Received in OIRA	Previous ICR Reference No: 201804-1545-003
Agency/Subagency: TREAS/IRS	Agency Tracking No:
Title: Rulings and determination letters. (RP 2022-1, RP 2022-10)
Type of Information Collection: Reinstatement with change of a previously approved collection	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 03/23/2022

	Requested	Previously Approved
Expiration Date	36 Months From Approved
Responses	3,966	0
Time Burden (Hours)	316,100	0
Cost Burden (Dollars)	0	0

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Abstract: Revenue Procedure 2022-1 explains how the Service provides advice to taxpayers on issues under the jurisdiction of the Associate Chief Counsel (Corporate), the Associate Chief Counsel (Financial Institutions and Products), the Associate Chief Counsel (Income Tax and Accounting), the Associate Chief Counsel (International), the Associate Chief Counsel (Passthrough and Special Industries), the Associate Chief Counsel (Procedure and Administration), and the Associate Chief Counsel (Tax Exempt and Government Entities). It explains the forms of advice and the manner in which advice is requested by taxpayers and provided by the Service. This information is required to evaluate and process the request for a letter ruling or determination letter. Rev. Proc. 2022-10 establishes an 18-month pilot program to provide an opportunity for fast-track processing of certain requests for letter rulings solely or primarily under the jurisdiction of the Associate Chief Counsel (Corporate). Rev. Proc. 2017-52 (1)introduces a pilot program expanding the scope of letter rulings available from the Internal Revenue Service (Service) to include rulings on the tax consequences of a distribution of stock and securities of a controlled corporation under § 355 for a specified period of time (see section 6 of this revenue procedure), (2) provides procedures for taxpayers requesting these rulings, and (3) clarifies procedures for taxpayers requesting rulings on significant issues relating to these transactions. The likely respondents are businesses or other for-profit institutions and tax exempt organizations.

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Authorizing Statute(s): US Code: 26 USC 7805 Name of Law: Rules and Regulations
  

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
60-day Notice:	Federal Register Citation:	Citation Date:
	86 FR 71319	12/15/2021
30-day Notice:	Federal Register Citation:	Citation Date:
	87 FR 16314	03/22/2022
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 2

IC Title	Form No.	Form Name
RP 2021-1; RP 2022-1 - Ruling and determination letters
RP 2022-10 Ruling and determination letters

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ICR Summary of Burden

	Total Request	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	3,966	0	0	3,966	0	0
Annual Time Burden (Hours)	316,100	0	0	316,100	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: This revenue procedure is effective for all requests received on or after January 4, 2021. Rev. Proc. 2020-1, as modified by Rev. Proc. 2020-29, governs requests prior to January 4, 2021. The previous approval was inadvertently discontinued. This submission is being made to request proper OMB approval on an existing collection in use without an OMB Control Number. Revenue Procedure 2022-1 was published during the public comment period of this Information collection request. It supersedes Rev. Proc. 2021-1 effective January 3, 2022. The Department of the Treasury (Treasury Department) and the Service have also received numerous informal comments from taxpayers and practitioners regarding the time required to process letter ruling requests. The Treasury Department and the Service have determined that faster processing of requests for letter rulings solely or primarily under the jurisdiction of the Associate Chief Counsel (Corporate) in more situations would improve service to taxpayers and enhance sound administration of the corporate tax provisions of the Internal Revenue Code (Code). Rev. Proc. 2022-10 provides guidance for fast-track processing of certain requests for letter rulings.

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Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     Yes

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? No

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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: 03/23/2022

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