Computation and Characterization of Income and Earnings and Profits under the Dollar Approximate Separate Transactions Method of Accounting (DASTM) INTL-29-91 Final

ICR 199508-1545-012

OMB: 1545-1051

Federal Form Document

Forms and Documents
Document
Name
Status
No forms / supporting documents in this ICR. Check IC Document Collections.
ICR Details
1545-1051 199508-1545-012
Historical Active 199301-1545-001
TREAS/IRS
Computation and Characterization of Income and Earnings and Profits under the Dollar Approximate Separate Transactions Method of Accounting (DASTM) INTL-29-91 Final
Extension without change of a currently approved collection   No
Regular
Approved without change 09/14/1995
Retrieve Notice of Action (NOA) 08/01/1995
  Inventory as of this Action Requested Previously Approved
09/30/1998 09/30/1998 01/31/1996
1,650 0 0
1,000 0 1,000
0 0 0

For taxable years after the final regulations are effective, taxpayers operating in hyperinflationary currencies must use the U.S. dollar as their functional currency and compute income using the Dollar Approximate Separate Transaction Method (DASTM). Small taxpayers may elect an alternative method by which to compute income or loss. For prior taxable years in which income was computed using profit and loss method, taxpayers may elect to recompute their income using DASTM.

None
None


No

  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 1,650 0 0 1,650 0 0
Annual Time Burden (Hours) 1,000 1,000 0 0 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
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.
08/01/1995


© 2024 OMB.report | Privacy Policy