Taxpayers use Form 4562 to: claim a
deduction for depreciation and/or amortization; make a section 179
election to expense depreciable assets; and answer questions
regarding the use of automobiles and other listed property to
substantiate the business use under section 274(d).
US Code:
26
USC 179 Name of Law: Election to expense certain depreciable
business assets
US Code: 26
USC 274(d) Name of Law: Disallowance of certain entertainment,
etc., expenses
US Code: 26
USC 280F Name of Law: Limitation on depreciation for luxury
automobiles
US Code: 26
USC 164 Name of Law: Taxes
PL:
Pub.L. 111 - 5 1201(a) Name of Law: American Recovery and
Reinvestment Act of 2009
PL:
Pub.L. 111 - 5 1201(b) Name of Law: American Recovery and
Reinvestment Act of 2009
PL: Pub.L. 111 - 240 2021(a)(1)(B) Name of
Law: Small Business Jobs Act of 2010
PL: Pub.L. 111 - 240 2021(a)(2)(B) Name of Law: Small Business Jobs
Act of 2010
The overall annual time burden
has not changed and the total number of responses remains the same
as well. The increase in the Form 4562 IC burden resulted in the
combining of the Form and Worksheet IC into one consolidated IC.
The agency deleted the separate worksheet IC and added the
worksheet burden to the forms burden for simplicity in reporting.
There is no change in the overall burden for this collection.
$39,100
No
No
No
No
Yes
Uncollected
R Scarafile 202
622-3933
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.