Depreciation and Amortization (Including Information on Listed Property)

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Form 4562 Depreciation and Amortization (Including Information on Listed Property)	Form	Modified	Available
Form 4562 Depreciation and Amortization (Including Information on Listed Property)	Form	Modified	Repair queued
2023 Supporting Statement (1545-0172)-lvd.docx	Supporting Statement A	Uploaded 2023-12-20	Repair queued

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
39663	Depreciation and Amortization (Including Information on Listed Property)	Form	Modified	Depreciation and Amortization (Including Information on Listed Property)
39663	Depreciation and Amortization (Including Information on Listed Property)	Form	Modified
39663	Depreciation and Amortization (Including Information on Listed Property)	Instruction	Modified

ICR Details

OMB Control No: 1545-0172	ICR Reference No: 202309-1545-014
Status: Active	Previous ICR Reference No: 202004-1545-027
Agency/Subagency: TREAS/IRS	Agency Tracking No:
Title: Depreciation and Amortization (Including Information on Listed Property)
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 02/09/2024
Retrieve Notice of Action (NOA)	Date Received in OIRA: 12/28/2023
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	02/28/2027	36 Months From Approved	02/29/2024
Responses	12,313,626	0	12,313,626
Time Burden (Hours)	448,368,447	0	448,368,447
Cost Burden (Dollars)	0	0	0

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Abstract: 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).

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Authorizing Statute(s): US Code: 26 USC 280F Name of Law: Limitation on depreciation for luxury automobiles
   US Code: 26 USC 168(k) Name of Law: Deduction forTaxes
   PL: Pub.L. 114 - 113 143(b)(3) Name of Law: PROTECTING AMERICANS FROM TAX HIKES ACT OF 2015
   US Code: 26 USC 274(d)(3) Name of Law: Disallowanc of certain entertainment, ect, expenses
   PL: Pub.L. 114 - 113 143(b)(1) Name of Law: PROTECTING AMERICANS FROM TAX HIKES ACT OF 2015
   US Code: 26 USC 179 Name of Law: Election to expense certain depreciable business assets
   PL: Pub.L. 115 - 97 13201(a) Name of Law: Tax Cuts and Jobs Act of 2017
   PL: Pub.L. 114 - 113 143(b)(4) Name of Law: PROTECTING AMERICANS FROM TAX HIKES ACT OF 2015
  

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:
	88 FR 47945	07/25/2023
30-day Notice:	Federal Register Citation:	Citation Date:
	88 FR 89496	12/27/2023
Did the Agency receive public comments on this ICR? Yes

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

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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	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

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:

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Annual Cost to Federal Government: $145,819

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.     Yes

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)? Yes

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: 12/28/2023

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