Election to Postpone Determination as to whether the Presumption Applies that an activity is engaged in for profit

ICR 200908-1545-025

OMB: 1545-0195

Federal Form Document

ICR Details
1545-0195 200908-1545-025
Historical Active 200606-1545-039
TREAS/IRS db-0195-025
Election to Postpone Determination as to whether the Presumption Applies that an activity is engaged in for profit
Extension without change of a currently approved collection   No
Regular
Approved without change 11/04/2009
Retrieve Notice of Action (NOA) 09/08/2009
  Inventory as of this Action Requested Previously Approved
11/30/2012 36 Months From Approved 11/30/2009
3,541 0 3,541
2,762 0 2,762
0 0 0

This form is used by individuals, partnerships, estates, trusts, and S corporations to make an election to postpone an IRS determination as to whether an activity is engaged in for profit for 5 years (7 years for breeding, training, showing, or racing horses). The data is used to verify eligibility to make the election.

US Code: 26 USC 183 Name of Law: Activities not engaged in for profit
  
None

Not associated with rulemaking

  74 FR 23243 05/18/2009
74 FR 45522 09/02/2009
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 3,541 3,541 0 0 0 0
Annual Time Burden (Hours) 2,762 2,762 0 0 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No

$0
No
No
Uncollected
Uncollected
No
Uncollected
M Young 2026229791

  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.
09/08/2009


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