Internal Revenue Code Section 108(i) Election

ICR 201611-1545-011

OMB: 1545-2147

Federal Form Document

Forms and Documents
Document
Name
Status
Supporting Statement A
2016-11-07
Supplementary Document
2010-05-25
ICR Details
1545-2147 201611-1545-011
Historical Active 201306-1545-060
TREAS/IRS
Internal Revenue Code Section 108(i) Election
Extension without change of a currently approved collection   No
Regular
Approved without change 03/03/2017
Retrieve Notice of Action (NOA) 12/30/2016
  Inventory as of this Action Requested Previously Approved
03/31/2020 36 Months From Approved 03/31/2017
50,000 0 50,000
300,000 0 300,000
0 0 0

Pub. L. 111-5 (American Recovery and Reinvestment Act), Section 1231 requires taxpayers to attach an election statement to the taxpayer's tax return to obtain a tax benefit. Information on how to make the election and what the statement must include must be published as early as possible to allow taxpayers sufficient time to determine whether to make the election and timely prepare and file their tax returns.

PL: Pub.L. 111 - 5 1231 Name of Law: American Recovery and Reinvestment Act of 2009
   US Code: 26 USC 108(i) Name of Law: Deferral and Ratable Inclusion of Income
  
None

Not associated with rulemaking

  81 FR 66737 09/28/2016
81 FR 96568 12/30/2016
No

  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 50,000 50,000 0 0 0 0
Annual Time Burden (Hours) 300,000 300,000 0 0 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No

$0
No
No
No
No
Yes
Uncollected
Donna Crisalli 202 622-4920

  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.
12/30/2016


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