RP-125212-09 Rules for Certain Rental Real Estate Activities

Forms and Documents

Document	Type	Status	Availability
SS Draft RP-125212-09.doc	Supporting Statement A	Uploaded 2011-03-11	Available
JUSTIFICATION FOR CHANGE IN BURDEN.doc	Justification for No Material/Nonsubstantive Change	Uploaded 2011-03-02	Available

IC Document Collections

IC ID	Collection	Type	Status	Form
193385	RP-12512-09 Rules for Certain Rental Real Estate Activities		Modified

ICR Details

OMB Control No: 1545-2194	ICR Reference No: 201012-1545-036
Status: Historical Active	Previous ICR Reference No: 201006-1545-039
Agency/Subagency: TREAS/IRS	Agency Tracking No: jg-2194-036
Title: RP-125212-09 Rules for Certain Rental Real Estate Activities
Type of Information Collection: No material or nonsubstantive change to a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 06/10/2011
	Date Received in OIRA: 04/14/2011
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	09/30/2013	09/30/2013	09/30/2013
Responses	2,000	0	2,000
Time Burden (Hours)	1,000	0	300
Cost Burden (Dollars)	0	0	0

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Abstract: This Revenue Procedure grants relief under Section 1.469-9(g) for certain taxpayers to make late elections to treat all interests in rental real estate as a single rental real estate activity.

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Authorizing Statute(s): US Code: 26 USC 469 Name of Law: Passive activity losses and credits limited.
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	75 FR 13656	03/22/2010
30-day Notice:	Federal Register Citation:	Citation Date:
	75 FR 42482	07/21/2010
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
RP-12512-09 Rules for Certain Rental Real Estate Activities

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ICR Summary of Burden

	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	2,000	2,000	0	0	0	0
Annual Time Burden (Hours)	1,000	300	0	700	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Miscellaneous Actions

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: This Draft Revenue Procedure grants relief under Section 1.469-9(g) for certain taxpayers to make late elections to treat all interests in rental real estate as a single rental real estate activity. After receiving an OMB Control, this draft revenue procedure was drafted again. An amended return is required of the taxpayer to request relief under this Revenue Proceding, and a decision was made that the amended return would in fact require the taxpayer 30 minutes to complete. Under the first draft, to comply with this revenue procedure, 2,000 annual respondents were expected with an average annual burden per respondent of nine minutes. This would result in an estimated burden increase of 700 hours.

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Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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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:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(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;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

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.

Certification Date: 04/14/2011

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