Proposed Collection; Comment Request for Form 5213., 72490 [2015-29563]
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Federal Register / Vol. 80, No. 223 / Thursday, November 19, 2015 / Notices
The following paragraph applies to all
of the collections of information covered
by this notice:
An agency may not conduct or
sponsor, and a person is not required to
respond to, a collection of information
unless the collection of information
displays a valid OMB control number.
Books or records relating to a collection
of information must be retained as long
as their contents may become material
in the administration of any internal
revenue law. Generally, tax returns and
tax return information are confidential,
as required by 26 U.S.C. 6103.
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: November 13, 2015.
Michael Joplin,
IRS Reports Clearance Officer.
[FR Doc. 2015–29564 Filed 11–18–15; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment
Request for Form 5213.
Internal Revenue Service (IRS),
Treasury.
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AGENCY:
VerDate Sep<11>2014
16:00 Nov 18, 2015
Jkt 238001
Notice and request for
comments.
ACTION:
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 Form
5213, Election to Postpone
Determination as To Whether the
Presumption Applies That an Activity Is
Engaged in for Profit.
DATES: Written comments should be
received on or before January 19, 2016
to be assured of consideration.
ADDRESSES: Direct all written comments
to Michael Joplin, Internal Revenue
Service, room 6129, 1111 Constitution
Avenue NW., Washington, DC 20224.
FOR FURTHER INFORMATION CONTACT:
Requests for additional information or
copies of the form and instructions
should be directed to Kerry Dennis, at
Internal Revenue Service, Room 6129,
1111 Constitution Avenue NW.,
Washington, DC 20224, or through the
Internet, at Kerry.Dennis@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Election To Postpone
Determination as To Whether the
Presumption Applies That an Activity Is
Engaged in for Profit.
OMB Number: 1545–0195.
Form Number: 5213.
Abstract: Section 183 of the Internal
Revenue Code allows taxpayers to elect
to postpone a determination as to
whether an activity is entered into for
profit or is in the nature of a
nondeductible hobby. The election is
made on Form 5213 and allows
taxpayers 5 years (7 years for breeding,
training, showing, or racing horses) to
show a profit from an activity.
Current Actions: There are no changes
being made to the form at this time.
Type of Review: Extension of a
currently approved collection.
SUMMARY:
PO 00000
Frm 00081
Fmt 4703
Sfmt 9990
Affected Public: Business or other forprofit organizations and individuals.
Estimated Number of Respondents:
3,541.
Estimated Time per Respondent: 47
minutes.
Estimated Total Annual Burden
Hours: 2,762.
The following paragraph applies to all
of the collections of information covered
by this notice:
An agency may not conduct or
sponsor, and a person is not required to
respond to, a collection of information
unless the collection of information
displays a valid OMB control number.
Books or records relating to a collection
of information must be retained as long
as their contents may become material
in the administration of any internal
revenue law. Generally, tax returns and
tax return information are confidential,
as required by 26 U.S.C. 6103.
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: November 10, 2015.
Michael Joplin,
IRS Reports Clearance Officer.
[FR Doc. 2015–29563 Filed 11–18–15; 8:45 am]
BILLING CODE 4830–01–P
E:\FR\FM\19NON1.SGM
19NON1
]]>Agencies
[Federal Register Volume 80, Number 223 (Thursday, November 19, 2015)]
[Notices]
[Page 72490]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-29563]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment Request for Form 5213.
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
Form 5213, Election to Postpone Determination as To Whether the
Presumption Applies That an Activity Is Engaged in for Profit.
DATES: Written comments should be received on or before January 19,
2016 to be assured of consideration.
ADDRESSES: Direct all written comments to Michael Joplin, Internal
Revenue Service, room 6129, 1111 Constitution Avenue NW., Washington,
DC 20224.
FOR FURTHER INFORMATION CONTACT: Requests for additional information or
copies of the form and instructions should be directed to Kerry Dennis,
at Internal Revenue Service, Room 6129, 1111 Constitution Avenue NW.,
Washington, DC 20224, or through the Internet, at Kerry.Dennis@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Election To Postpone Determination as To Whether the
Presumption Applies That an Activity Is Engaged in for Profit.
OMB Number: 1545-0195.
Form Number: 5213.
Abstract: Section 183 of the Internal Revenue Code allows taxpayers
to elect to postpone a determination as to whether an activity is
entered into for profit or is in the nature of a nondeductible hobby.
The election is made on Form 5213 and allows taxpayers 5 years (7 years
for breeding, training, showing, or racing horses) to show a profit
from an activity.
Current Actions: There are no changes being made to the form at
this time.
Type of Review: Extension of a currently approved collection.
Affected Public: Business or other for-profit organizations and
individuals.
Estimated Number of Respondents: 3,541.
Estimated Time per Respondent: 47 minutes.
Estimated Total Annual Burden Hours: 2,762.
The following paragraph applies to all of the collections of
information covered by this notice:
An agency may not conduct or sponsor, and a person is not required
to respond to, a collection of information unless the collection of
information displays a valid OMB control number. Books or records
relating to a collection of information must be retained as long as
their contents may become material in the administration of any
internal revenue law. Generally, tax returns and tax return information
are confidential, as required by 26 U.S.C. 6103.
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: November 10, 2015.
Michael Joplin,
IRS Reports Clearance Officer.
[FR Doc. 2015-29563 Filed 11-18-15; 8:45 am]
BILLING CODE 4830-01-P
