Installment Sale Income

ICR 201210-1545-019

OMB: 1545-0228

Federal Form Document

Forms and Documents
Document
Name
Status
Form and Instruction
Modified
Supporting Statement A
2012-10-25
IC Document Collections
IC ID
Document
Title
Status
39726 Modified
ICR Details
1545-0228 201210-1545-019
Historical Active 200910-1545-009
TREAS/IRS
Installment Sale Income
Extension without change of a currently approved collection   No
Regular
Approved without change 02/21/2013
Retrieve Notice of Action (NOA) 12/17/2012
  Inventory as of this Action Requested Previously Approved
02/29/2016 36 Months From Approved 02/28/2013
521,898 0 521,898
1,597,008 0 1,597,008
0 0 0

Information is needed to figure and report an installment sale for a casual or incidental sale of personal property, and a sale of real property by someone not in the business of selling real estate. Data is used to determine whether the installment sale has been properly reported and the correct amount of profit is included in income on the taxpayer's return.

US Code: 26 USC 453 Name of Law: Installment method.
  
None

Not associated with rulemaking

  77 FR 38142 06/26/2012
77 FR 74549 12/14/2012
No

1
IC Title Form No. Form Name
Installment Sale Income 6252 Installment Sale Income

  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 521,898 521,898 0 0 0 0
Annual Time Burden (Hours) 1,597,008 1,597,008 0 0 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No

$5,948
No
No
No
No
No
Uncollected
Stephen Bronson 2029279827

  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.
12/17/2012


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