Conclusive Presumption of Wothlessness of Debts Held by Banks (FI-34-91) (Final)

ICR 200905-1545-030

OMB: 1545-1254

Federal Form Document

Forms and Documents
Document
Name
Status
Supporting Statement A
2009-06-03
IC Document Collections
ICR Details
1545-1254 200905-1545-030
Historical Active 200604-1545-018
TREAS/IRS db-1254-030
Conclusive Presumption of Wothlessness of Debts Held by Banks (FI-34-91) (Final)
Extension without change of a currently approved collection   No
Regular
Approved without change 08/19/2009
Retrieve Notice of Action (NOA) 06/23/2009
  Inventory as of this Action Requested Previously Approved
08/31/2012 36 Months From Approved 08/31/2009
200 0 200
50 0 50
0 0 0

Paragraph (d)(3) of section 1.166-2 of the regulations allows banks and thrifts to elect to conform their tax accounting for bad debts with their regulatory accounting. An election, or revocation thereof, is a change in method of accounting. The collection of information required in section 1.166-2(d)(3) is necessary to monitor the elections.

US Code: 26 USC 166 Name of Law: Bad Debts
  
None

Not associated with rulemaking

  74 FR 7105 02/04/2009
74 FR 29532 06/22/2009
No

1
IC Title Form No. Form Name
Conclusive Presumption of Wothlessness of Debts Held by Banks (FI-34-91) (Final)

  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 200 200 0 0 0 0
Annual Time Burden (Hours) 50 50 0 0 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No

$0
No
No
Uncollected
Uncollected
No
Uncollected
Craig Wojay 202 622-3920

  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.
06/23/2009


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