Installment Sale Income (Form 6252)

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Form 6252 Installment Sale Income	Form and Instruction	Modified	Available
Form 6252 Form 6252 - Installment Sale Income	Form and Instruction	Modified	Repair queued
Supporting Statement 1545-0228 (Form 6252) AG.docx	Supporting Statement A	Uploaded 2022-07-18	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
39726	Form 6252 - Installment Sale Income	Form and Instruction	Modified	Installment Sale Income
39726	Form 6252 - Installment Sale Income	Form and Instruction	Modified

ICR Details

OMB Control No: 1545-0228	ICR Reference No: 202205-1545-013
Status: Historical Active	Previous ICR Reference No: 201902-1545-001
Agency/Subagency: TREAS/IRS	Agency Tracking No: Ready for Treas. Review
Title: Installment Sale Income (Form 6252)
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 09/22/2022
Retrieve Notice of Action (NOA)	Date Received in OIRA: 07/29/2022
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	09/30/2025	36 Months From Approved	09/30/2022
Responses	58,426	0	521,898
Time Burden (Hours)	178,784	0	1,597,008
Cost Burden (Dollars)	0	0	0

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Abstract: Information is needed to figure and report an installment sale for a casual or incidental sale of personal property, and a sale of real property by someone not in the business of selling real estate. Data is used to determine whether the installment sale has been properly reported and the correct amount of profit is included in income on the taxpayer's return.

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Authorizing Statute(s): US Code: 26 USC 453 Name of Law: Installment method.
  

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:
	87 FR 16313	03/22/2022
30-day Notice:	Federal Register Citation:	Citation Date:
	87 FR 45423	07/28/2022
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
Form 6252 - Installment Sale Income	6252	Installment Sale Income

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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	58,426	521,898	0	0	-463,472	0
Annual Time Burden (Hours)	178,784	1,597,008	0	0	-1,418,224	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: There are no material changes in the paperwork burden previously approved by OMB. However, to avoid duplication of the burden for individual filers (accounted for in OMB control number 1545-0074) IRS has decreased the burden by 463,472 responses and 1,418,224 hours. IRS is making this submission for renewal purposes.

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Annual Cost to Federal Government: $80,460

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     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? No

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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: 07/29/2022

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