The US IRS is soliciting comments from the public on taxpayer burdens associated with transfer pricing methods used in connection with a cost sharing arrangement under IRC section 482.
The request relates to cost sharing regulations (TD 9568) that were issued December 22, 2011.
The IRS said it is particularly interested in comments that:
- Evaluate whether the proposed collection of information is necessary for the proper performance of the functions of the agency, including whether the information will have practical utility;
- Evaluate the accuracy of the agency’s estimate of the burden of the proposed collection of information, including the validity of the methodology and assumptions used;
- Enhance the quality, utility, and clarity of the information to be collected; and
- Minimize the burden of the collection of information on those who are to respond, including using appropriate automated, electronic, mechanical, or other technological collection techniques or other forms of information technology, e.g., by permitting electronic submissions of responses.
Responses are due December 18.
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