Form 4562 - Depreciation and Amortization (Including Information on Listed Property)

ICR 201312-1545-029

OMB: 1545-0172

Federal Form Document

Forms and Documents
Document
Name
Status
Form
Modified
Supporting Statement A
2014-02-18
IC Document Collections
ICR Details
1545-0172 201312-1545-029
Historical Active 201009-1545-010
TREAS/IRS kd1545-029
Form 4562 - Depreciation and Amortization (Including Information on Listed Property)
Extension without change of a currently approved collection   No
Regular
Approved without change 05/05/2014
Retrieve Notice of Action (NOA) 02/28/2014
  Inventory as of this Action Requested Previously Approved
05/31/2017 36 Months From Approved 05/31/2014
12,313,626 0 12,313,626
448,368,447 0 448,368,447
0 0 0

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

Not associated with rulemaking

  78 FR 57219 09/17/2013
79 FR 11178 02/27/2014
Yes

1
IC Title Form No. Form Name
Depreciation and Amortization (Worksheet)
Depreciation and Amortization (Form) 4562 Depreciation and Amortization

  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 12,313,626 12,313,626 0 0 0 0
Annual Time Burden (Hours) 448,368,447 448,368,447 0 0 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No
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.
02/28/2014


© 2024 OMB.report | Privacy Policy