26 CFR 301.9100-7T, Time and Manner of Making Certain Elections Under the Tax Reform Act of 1986

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
26CFR301.9100-7T_2013.pdf	Supplementary Document	Uploaded 2013-11-26	Available
1545-0982_SS_REV_26NOV2013.doc	Supporting Statement A	Uploaded 2013-11-29	Available
LR-77-86_Temp Reg.pdf	Supplementary Document	Uploaded 2007-05-11	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
17614	26 CFR 301.9100-7T		Modified

ICR Details

OMB Control No: 1545-0982	ICR Reference No: 201307-1545-045
Status: Historical Active	Previous ICR Reference No: 201008-1545-004
Agency/Subagency: TREAS/IRS	Agency Tracking No:
Title: 26 CFR 301.9100-7T, Time and Manner of Making Certain Elections Under the Tax Reform Act of 1986
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 02/20/2014
	Date Received in OIRA: 11/29/2013
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	02/28/2017	36 Months From Approved	02/28/2014
Responses	39,000	0	114,710
Time Burden (Hours)	9,750	0	28,678
Cost Burden (Dollars)	0	0	0

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Abstract: Section 301.9100-7T lists certain elections that are provided by Tax Reform Act of 1986 and provides general rules regarding the time and the manner for making the elections. These regulations enable taxpayers to take advantage of the benefits of various Code provisions.

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Authorizing Statute(s): US Code: 26 USC 168 Name of Law: Accelerated cost recovery system
   US Code: 26 USC 6103 Name of Law: Confidentiality and Disclosure of Returns and Return Information
   PL: Pub.L. 99 - 514 et al. Name of Law: Tax Reform Act of 1986
  

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:
	78 FR 29206	05/17/2013
30-day Notice:	Federal Register Citation:	Citation Date:
	78 FR 70411	11/25/2013
Did the Agency receive public comments on this ICR? No

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

table that charts list of burden

IC Title	Form No.	Form Name
26 CFR 301.9100-7T

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ICR Summary of Burden

table that charts list 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	39,000	114,710	0	0	-75,710	0
Annual Time Burden (Hours)	9,750	28,678	0	0	-18,928	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: This revision updates the elections identified under §301.9100-7T and adjusts the burden accordingly.

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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: 11/29/2013

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