Like-Kind Exchanges

Forms and Documents

Document Name	Status
Form 8824 Like-Kind Exchanges Form	Modified
Expiration Explanation.rtf Supplementary Document	2013-01-08
F8824_2012Sup.doc Supporting Statement A	2013-01-08

IC Document Collections

IC ID	Document Title	Status
40058	Like-Kind Exchanges Form	Modified

ICR Details

OMB Control No: 1545-1190	ICR Reference No: 201208-1545-014
Status: Historical Active	Previous ICR Reference No: 200909-1545-032
Agency/Subagency: TREAS/IRS	Agency Tracking No: JG-1545-014
Title: Like-Kind Exchanges
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 04/10/2013
	Date Received in OIRA: 01/24/2013
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	04/30/2016	36 Months From Approved	04/30/2013
Responses	137,547	0	53,490
Time Burden (Hours)	1,995,807	0	834,979
Cost Burden (Dollars)	0	0	0

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Abstract: Form 8824 is used by individuals, partnerships, and other entities to report the exchange of business or investment property, and the deferral of gains from such transactions under section 1031. It is also used to report the deferral of gain under section 1043 by members of the executive branch of the Federal government.

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Authorizing Statute(s): US Code: 26 USC 1043 Name of Law: Sale of property to comply with conflict-of-interest requirements.
   US Code: 26 USC 1031 Name of Law: Exchange of property held for productive use or investment.
  

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:
	77 FR 63924	10/17/2012
30-day Notice:	Federal Register Citation:	Citation Date:
	78 FR 4982	01/23/2013
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
Like-Kind Exchanges	8824	Like-Kind Exchanges

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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	137,547	53,490	0	0	84,057	0
Annual Time Burden (Hours)	1,995,807	834,979	0	0	1,160,828	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

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

Burden Increase Due to:

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

Burden Reduction Due to:

Short Statement: Due to an increase in the number of filers for Form 8824, Like-Kind Exchanges, over the previous submission, the total number of burden hours has increased from 834,979 to 1,995,807.

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Annual Cost to Federal Government: $955

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: 01/24/2013

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