Edit: The decklist above accurately reflects what I'm currently using in-game. I will update this Description when I acquire the Thousand-Year Storm card(s?) I need to finalise it - possibly tweaking other cards when I do.

This deck has a few major themes to it. If it were some generic deck, I'd just call it "UR Control" or something, but no - this is Izzet Counterburn. Every part of that name is represented in this deck, and then some. Here's the breakdown of what I'm going for...

Izzet

Niv-Mizzet, Parun and Ral, Izzet Viceroy are both in this deck, because it's effing Izzet. 'Nuff said.

Counter

I keep ten counterspells in this deck, with a little flexibility for a Control mirror. Ionize, of course, is the penultimate counterspell for an Izzet Counterburn deck - in both colours, counters a spell, and shocks its controller. Perfect. But as I can only have four of them, I've also included a full set of Sinister Sabotage. This is your typical 1UU counterspell, but also lets me Surveil, so strictly better than Cancel. Finally, in the mainboard, I run a pair of Essence Scatter for cheap counters against pesky creatures. When I'm in a Bo3 against Control, I side them out for a couple of Negate instead.

Burn

My favourite part! The staples of Shock and Lightning Strike are both here, of course, and I also run some Banefire for more scalable damage. Expansion // Explosion can either copy these spells, or put some fire against some face itself while letting me get more burn into my hand. Most of my sideboard is built for flexibility in my burn spells as well:

Electrostatic Field is there if I need quick, cheap defense against an aggro deck, and it also pings when I cast Instants/Sorceries.
Beacon Bolt will come in handy against larger creatures in Midrange or Stompy decks.
Lava Coil is specifically for sticky creatures like Phoenixes.
Inescapable Blaze can be sided in against the Control mirror - insanely expensive, but 24 uncounterable damage as a four-of!

Creatures

Because this isn't just some mindless creatureless burn deck, I've got a few bodies at my disposal (in addition to the sideboarded Electrostatic Field. A pair of Crackling Drake are my main swingers as needed - fliers that get pretty big in the late game and will always draw me cards. League Guildmage can copy my cheaper burn spells with ease (or, if necessary, a countered counterspell), and can also draw me cards when I've got nothing better to do. Both can help protect Ral, Izzet Viceroy if needed, along with the aforementioned Niv-Mizzet, Parun.

Utility

I'll admit it, Thousand-Year Storm is strictly win-more in this deck. What can I say, it's cool as hell! I only run it as a one-of, but if I need it to go off, it can do so with gusto. For actual utility (like card draw), I have Opt to get me the counters and/or burn spells I need. Risk Factor will either burn my opponent in the face or draw me a few cards - I'm fine with either option, really. There's a pair of Detection Tower lands to deal with pesky cards like Nullhide Ferox or Carnage Tyrant. Finally, in the sideboard I run a single Selective Snare, just in case some token deck decides to try something.

I haven't actually managed to get all the cards I need for this deck in Arena yet, so things may very well change as I put it together and see how it performs. The cards that I have managed to put together so far do put in work, though, and I'm already a fan!