Proposed Extension of Information Collection Request Submitted for Public Comment; Comment Request for Form 5213, 56917 [2018-24735]
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Federal Register / Vol. 83, No. 220 / Wednesday, November 14, 2018 / Notices
Current Actions: There are no changes
to these existing regulations.
Type of Review: Extension of
currently approved collection.
Affected Public: Business or other forprofit institutions, and state, local, or
tribal governments.
Estimated Number of Respondents:
42,000.
Estimated Time per Respondent: 12
minutes.
Estimated Total Annual Burden
Hours: 8,400.
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 6, 2018.
Laurie Brimmer,
Senior Tax Analyst.
[FR Doc. 2018–24731 Filed 11–13–18; 8:45 am]
BILLING CODE 4830–01–P
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Jkt 247001
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Extension of Information
Collection Request Submitted for
Public Comment; Comment Request
for Form 5213
Internal Revenue Service (IRS),
Treasury.
ACTION: Notice and request for
comments.
AGENCY:
The Internal Revenue Service,
as part of its continuing effort to reduce
paperwork and respondent burden,
invites the 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. 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 14, 2019
to be assured of consideration.
ADDRESSES: Direct all written comments
to Carolyn Brown, Internal Revenue
Service, Room 6236, 1111 Constitution
Avenue NW, Washington, DC 20224.
Requests for additional information or
copies of the regulations should be
directed to R. Joseph Durbala, at Internal
Revenue Service, Room 6129, 1111
Constitution Avenue NW, Washington
DC 20224, or through the internet, at
RJoseph.Durbala@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 is no change to
the burden previously approved.
Type of Review: Extension of a
currently approved collection.
Affected Public: Business or other forprofit organizations.
Estimated Number of Respondents:
3,541.
Estimated Time per Respondent: 47
min.
SUMMARY:
PO 00000
Frm 00120
Fmt 4703
Sfmt 9990
56917
Estimated Total Annual Burden
Hours: 2,762.
The following paragraph applies to all
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 if 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.
Desired Focus of Comments: The
Internal Revenue Service (IRS) is
particularly interested in comments
that:
• Evaluate whether the proposed
collection of information is necessary
for the proper performance of the
functions of the agency, including
whether the information will have
practical utility;
• Evaluate the accuracy of the
agency’s estimate of the burden of the
proposed collection of information,
including the validity of the
methodology and assumptions used;
• Enhance the quality, utility, and
clarity of the information to be
collected; and
• Minimize the burden of the
collection of information on those who
are to respond, including using
appropriate automated, electronic,
mechanical, or other technological
collection techniques or other forms of
information technology, e.g., by
permitting electronic submissions of
responses.
Comments submitted in response to
this notice will be summarized and/or
included in the ICR for OMB approval
of the extension of the information
collection; they will also become a
matter of public record.
Approved: November 6, 2018.
R. Joseph Durbala,
IRS Tax Analyst.
[FR Doc. 2018–24735 Filed 11–13–18; 8:45 am]
BILLING CODE 4830–01–P
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]]>Agencies
[Federal Register Volume 83, Number 220 (Wednesday, November 14, 2018)]
[Notices]
[Page 56917]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-24735]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Extension of Information Collection Request Submitted
for Public Comment; Comment Request for Form 5213
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Notice and request for comments.
-----------------------------------------------------------------------
SUMMARY: The Internal Revenue Service, as part of its continuing effort
to reduce paperwork and respondent burden, invites the 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. 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 14,
2019 to be assured of consideration.
ADDRESSES: Direct all written comments to Carolyn Brown, Internal
Revenue Service, Room 6236, 1111 Constitution Avenue NW, Washington, DC
20224. Requests for additional information or copies of the regulations
should be directed to R. Joseph Durbala, at Internal Revenue Service,
Room 6129, 1111 Constitution Avenue NW, Washington DC 20224, or through
the internet, at [email protected].
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 is no change to the burden previously
approved.
Type of Review: Extension of a currently approved collection.
Affected Public: Business or other for-profit organizations.
Estimated Number of Respondents: 3,541.
Estimated Time per Respondent: 47 min.
Estimated Total Annual Burden Hours: 2,762.
The following paragraph applies to all 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 if 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.
Desired Focus of Comments: The Internal Revenue Service (IRS) is
particularly interested in comments that:
Evaluate whether the proposed collection of information is
necessary for the proper performance of the functions of the agency,
including whether the information will have practical utility;
Evaluate the accuracy of the agency's estimate of the
burden of the proposed collection of information, including the
validity of the methodology and assumptions used;
Enhance the quality, utility, and clarity of the
information to be collected; and
Minimize the burden of the collection of information on
those who are to respond, including using appropriate automated,
electronic, mechanical, or other technological collection techniques or
other forms of information technology, e.g., by permitting electronic
submissions of responses.
Comments submitted in response to this notice will be summarized
and/or included in the ICR for OMB approval of the extension of the
information collection; they will also become a matter of public
record.
Approved: November 6, 2018.
R. Joseph Durbala,
IRS Tax Analyst.
[FR Doc. 2018-24735 Filed 11-13-18; 8:45 am]
BILLING CODE 4830-01-P
