BAD DEBT RESERVES OF BANKS FI-81-86 NPRM

ICR 199302-1545-020

OMB: 1545-1290

Federal Form Document

Forms and Documents
Document
Name
Status
No forms / supporting documents in this ICR. Check IC Document Collections.
IC Document Collections
IC ID
Document
Title
Status
170900
Migrated
ICR Details
1545-1290 199302-1545-020
Historical Active 199112-1545-001
TREAS/IRS
BAD DEBT RESERVES OF BANKS FI-81-86 NPRM
No material or nonsubstantive change to a currently approved collection   No
Emergency 02/24/1993
Approved with change 02/24/1993
Retrieve Notice of Action (NOA) 02/24/1993
  Inventory as of this Action Requested Previously Approved
02/28/1994 02/28/1994 02/28/1994
2,500 0 1
625 0 1
0 0 0

SECTION 585(C) OF THE INTERNAL REVENUE CODE REQUIRES LARGE BANKS TO CHANGE FROM THE RESERVE METHOD OF ACCOUNTING TO THE SPECIFIC CHARGE OFF METHOD OF ACCOUNTING FOR BAD DEBTS. THE INFORMATION REQUIRED BY SECTION 1.585-8 OF THE REGULATION IDENTIFIES ANY ELECTIONS MADE OR REVOKED BY THE TAXPAYER IN ACCORDANCE WITH SECTION 585(C).

None
None


No

1
IC Title Form No. Form Name
BAD DEBT RESERVES OF BANKS FI-81-86 NPRM

  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 2,500 1 0 2,499 0 0
Annual Time Burden (Hours) 625 1 0 624 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
Yes
No

$0
No
No
Uncollected
Uncollected
Uncollected
Uncollected

  No

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:
 
 
 
 
 
 
 
    (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;
 
 
 
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.
02/24/1993


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