REG-152549-03 (NPRM/Temporary) Section 179 Elections; PS-52-88 (Final) Election to Expense Certain Depreciable Business Assets

ICR 200410-1545-002

OMB: 1545-1201

Federal Form Document

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Name
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ICR Details
1545-1201 200410-1545-002
Historical Active 200407-1545-006
TREAS/IRS
REG-152549-03 (NPRM/Temporary) Section 179 Elections; PS-52-88 (Final) Election to Expense Certain Depreciable Business Assets
Extension without change of a currently approved collection   No
Regular
Approved without change 11/09/2004
Retrieve Notice of Action (NOA) 10/05/2004
  Inventory as of this Action Requested Previously Approved
11/30/2007 11/30/2007 01/31/2005
4,035,000 0 4,035,000
3,022,500 0 3,022,500
0 0 0

The regulations provide rules on the election described in section 179(b)(4); the apportionment of the dollar limitation among component members of a controlled group; the proper order for deducting the carryover of disallowed deduction; and the maintenance of information which permits the specific identification of each piece of section 179 property and reflects how and from whom such property was acquired and when such property was placed in service. The recordkeeping and reporting is necessary to monitor compliance with the section 179 rules.

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 4,035,000 4,035,000 0 0 0 0
Annual Time Burden (Hours) 3,022,500 3,022,500 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.
10/05/2004


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