PLR 200116011: Late request for revised plant funding schedule treated as timely

Plain-English summary

A taxpayer missed the deadline to request a revised schedule of ruling amounts for a plant under the section 468A regulations. It filed the request after the deadline and asked the IRS for relief under the regulatory election extension rules. The IRS found those relief requirements met and treated the late request as timely filed. The letter did not decide the requested revised schedule itself or other tax consequences.

Ruling snapshot

• Question: Could the late request for a revised schedule of ruling amounts be treated as timely?
• Outcome: Approved as to timely filing of the request.
• Key authorities: IRC § 468A; Treas. Reg. §§ 1.468A-3(i)(1)(i), 301.9100-1, 301.9100-3.

Full text (IRS public release)

Internal Revenue Service
Department of the Treasury

Number: 200116011
Washington, DC 20224
Release Date: 4/20/2001
Index Number: 9100.00-00
Person to Contact:

Telephone Number:

Refer Reply To:
CC:PSI:6--PLR-129092-00
Date:
01/05/01

Taxpayer =

Plant =

D1
=
D2
=
D3
=

District =

Dear
:

This letter responds to your request dated D3, submitted on behalf of Taxpayer, requesting under §301.9100-3 of the Procedure and Administration Regulations an extension of time to file a request for a revised schedule of ruling amounts for Plant under §1.468A-3(i)(1)(i) of the Income Tax Regulations.

Taxpayer was required to file the request for a revised schedule of ruling amounts for Plant under §1.468A-3(i)(1)(i) on or before D1. Taxpayer did not file the request until D2. Taxpayer requested an extension of time to file the request under §301.9100-3 on D3.

Section 301.9100-1(c) provides that the Commissioner has discretion to grant a reasonable extension of time under the rules set forth in §§301.9100-2 and 301.9100-3 to make a regulatory election. Section 301.9100-1(b) defines a regulatory election as an election whose due date is prescribed by a regulation published in the Federal Register, or a revenue ruling, revenue procedure, notice, or announcement published in the Internal Revenue Bulletin.

Sections 301.9100-1 through 301.9100-3 provide the standards the Commissioner will use to determine whether to grant an extension of time to make an election. Section 301.9100-2 provides automatic extensions of time for making certain elections. Section 301.9100-3 provides extensions of time for making elections that do not meet the requirements of section 301.9100-2.

Requests for relief under §301.9100-3 will be granted when the taxpayer

2
PLR-129092-00

provides evidence to establish that the taxpayer acted reasonably and in good faith, and that granting relief will not prejudice the interests of the government. Section 301.9100-3(a).

Based solely on the facts submitted and the representations made, the requirements of §§301.9100-1 and 301.9100-3 have been met. Consequently, Taxpayer’s request, dated D2, for a revised schedule of ruling amounts for Plant under §1.468A-3(i)(1)(i) will be treated as timely filed.

Except as specifically ruled upon above, no opinion is expressed or implied concerning the Federal income tax consequences of the transaction described above.

This ruling is directed only to the taxpayer who requested it. Section 6110(k)(3) of the Internal Revenue Code provides that it may not be used or cited as precedent.

We are sending a copy of this letter to the Director of District. In accordance with the power of attorney on file with this office, a copy of this letter is being sent to Taxpayer.

Sincerely yours,
PAUL F. KUGLER
Associate Chief Counsel
(Passthroughs and Special Industries)

Enclosures:
Copy of this letter
Copy for section 6110 purposes