Form 3115 - Application for Change in Accounting Method

Forms and Documents

Document	Type	Status	Availability
Form Form 3115 Form 3115 - Application for Change in Accounting Method	Form	Modified	Repair queued
1545-2070 Supporting Statement 2024.docx	Supporting Statement A	Uploaded 2024-07-23	Missing upstream

IC Document Collections

IC ID	Collection	Type	Status	Form
226401	Form 3115 - Application for Change in Accounting Method	Form	Modified

ICR Details

OMB Control No: 1545-2070	ICR Reference No: 202406-1545-013
Status: Received in OIRA	Previous ICR Reference No: 202207-1545-005
Agency/Subagency: TREAS/IRS	Agency Tracking No:
Title: Form 3115 - Application for Change in Accounting Method
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 08/27/2024

	Requested	Previously Approved
Expiration Date	36 Months From Approved	09/30/2024
Responses	183	190
Time Burden (Hours)	18,298	18,998
Cost Burden (Dollars)	0	0

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Abstract: Internal Revenue Code (IRC) section 446(e) requires taxpayers to secure the consent of the IRS before changing their method of accounting for computing taxable income. Treasury Regulations section 1.446-1(e)(3) requires taxpayers to file Form 3115 to obtain this consent. Form 3115 is used by taxpayers to request a change in either an overall method of accounting or the accounting treatment of any item.

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Authorizing Statute(s): US Code: 26 USC 446(e) Name of Law: Requirement Respecting Change Of Accounting 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:
	89 FR 42056	05/14/2024
30-day Notice:	Federal Register Citation:	Citation Date:
	89 FR 68703	08/27/2024
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Form 3115 - Application for Change in Accounting Method	Form 3115	Application for Change in Accounting Method

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ICR Summary of Burden

	Total Request	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	183	190	0	0	-7	0
Annual Time Burden (Hours)	18,298	18,998	0	0	-700	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: Changes to the burden estimates of Form 3115 are due to the decrease in the number of filers (from 190 to 183) based on the most recent filing data and to avoid duplication of the burden for tax exempt filers (accounted for in OMB control number 1545-0047). This updated filing data decreases the total burden hours from 18,998 to 18,298.

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Annual Cost to Federal Government: $35,356

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)? 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: 08/27/2024

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