IA-120-86 Capitalization of Interest (TD 8584)(Final)

ICR 201309-1545-066

OMB: 1545-1265

Federal Form Document

Forms and Documents
Document
Name
Status
Supporting Statement A
2014-01-29
Supplementary Document
2010-08-18
IC Document Collections
IC ID
Document
Title
Status
18037
Modified
ICR Details
1545-1265 201309-1545-066
Historical Active 201008-1545-040
TREAS/IRS
IA-120-86 Capitalization of Interest (TD 8584)(Final)
Extension without change of a currently approved collection   No
Regular
Approved without change 05/05/2014
Retrieve Notice of Action (NOA) 01/31/2014
  Inventory as of this Action Requested Previously Approved
05/31/2017 36 Months From Approved 05/31/2014
500,050 0 500,050
116,767 0 116,767
0 0 0

The regulations require taxpayers to maintain contemporaneous written records of estimates, to file a ruling request to segregate activities in applying the interest capitalization rules, and to request the consent of the Commissioner to change their methods of accounting for the capitalization of interest.

US Code: 26 USC 263A(f) Name of Law: Capitalization and inclusion in inventory costs of certain expenses
   US Code: 26 USC 803(a) Name of Law: The Tax Reform Act of 1986
  
None

Not associated with rulemaking

  78 FR 40549 07/05/2013
79 FR 3267 01/17/2014
No

1
IC Title Form No. Form Name
IA-120-86 Capitalization of Interest (TD 8584)(Final)

  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 500,050 500,050 0 0 0 0
Annual Time Burden (Hours) 116,767 116,767 0 0 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No

$0
No
No
No
No
No
Uncollected
Tom Luxner 202 622-4970

  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.
01/31/2014


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