96-14468. Proposed Collection; Comment Request For Regulation Project PS- 52-88  

  • [Federal Register Volume 61, Number 112 (Monday, June 10, 1996)]
    [Notices]
    [Page 29448]
    From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
    [FR Doc No: 96-14468]
    
    
    
    =======================================================================
    -----------------------------------------------------------------------
    
    DEPARTMENT OF THE TREASURY
    
    Internal Revenue Service
    
    
    Proposed Collection; Comment Request For Regulation Project PS-
    52-88
    
    AGENCY: Internal Revenue Service (IRS), Treasury.
    
    ACTION: Notice and request for comments.
    
    -----------------------------------------------------------------------
    
    SUMMARY: The Department of the Treasury, as part of its continuing 
    effort to reduce paperwork and respondent burden, invites the general 
    public and other Federal agencies to take this opportunity to comment 
    on proposed and/or continuing information collections, as required by 
    the Paperwork Reduction Act of 1995, Public Law 104-13 (44 U.S.C. 
    3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning an 
    existing final regulation, PS-52-88 (TD 8455), Election to Expense 
    Certain Depreciable Business Assets. (Secs. 1.179-2, 1.179-3).
    
    DATES: Written comments should be received on or before August 9, 1996 
    to be assured of consideration.
    
    ADDRESSES: Direct all written comments to Garrick R. Shear, Internal 
    Revenue Service, room 5571, 1111 Constitution Avenue NW., Washington, 
    DC 20224.
    
    FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
    copies of the information collection should be directed to Carol 
    Savage, (202) 622-3945, Internal Revenue Service, room 5569, 1111 
    Constitution Avenue NW., Washington, DC 20224.
    
    SUPPLEMENTARY INFORMATION:
    
        Title: Election to Expense Certain Depreciable Business Assets.
        OMB Number: 1545-1201.
        Regulation Project Number: PS-52-88 Final.
        Abstract: The regulations provide rules on the election described 
    in Internal Revenue Code section 179(b)(4); the apportionment of the 
    dollar limitation among component members of a controlled group; and 
    the proper order for deducting the carryover of disallowed deduction. 
    The recordkeeping and reporting requirements are necessary to monitor 
    compliance with the section 179 rules.
        Current Actions: There is no change to this existing regulation.
        Type of Review: Extension of OMB approval.
        Affected Public: Individuals or households, farms, and business or 
    other for-profit organizations.
        Estimated Number of Respondents: 20,000.
        Estimated Time Per Respondent: 45 minutes.
        Estimated Total Annual Burden Hours: 15,000 hours.
    
    REQUEST FOR COMMENTS: Comments submitted in response to this notice 
    will be summarized and/or included in the request for OMB approval. All 
    comments will become a matter of public record. Comments are invited 
    on: (a) Whether the collection of information is necessary for the 
    proper performance of the functions of the agency, including whether 
    the information shall have practical utility; (b) the accuracy of the 
    agency's estimate of the burden of the collection of information; (c) 
    ways to enhance the quality, utility, and clarity of the information to 
    be collected; (d) ways to minimize the burden of the collection of 
    information on respondents, including through the use of automated 
    collection techniques or other forms of information technology; and (e) 
    estimates of capital or start-up costs and costs of operation, 
    maintenance, and purchase of services to provide information.
    
        Approved: June 3, 1996.
    Garrick R. Shear,
    IRS Reports Clearance Officer.
    [FR Doc. 96-14468 Filed 6-7-96; 8:45 am]
    BILLING CODE 4830-01-U
    
    

Document Information

Published:
06/10/1996
Department:
Internal Revenue Service
Entry Type:
Notice
Action:
Notice and request for comments.
Document Number:
96-14468
Dates:
Written comments should be received on or before August 9, 1996 to be assured of consideration.
Pages:
29448-29448 (1 pages)
PDF File:
96-14468.pdf