Proposed Collection; Comment Request for Sales of Business Property, 21174 [2024-06383]

Download as PDF 21174 Federal Register / Vol. 89, No. 59 / Tuesday, March 26, 2024 / Notices ddrumheller on DSK120RN23PROD with NOTICES1 SUPPLEMENTARY INFORMATION: Title: Disclosure of Tax Return Information for Purposes of Quality or Peer Reviews, Due to Incapacity or Death of Tax Return Preparer. OMB Number: 1545–1209. Regulation Project Number: TD 8383. Abstract: These regulations govern the circumstances under which tax return information may be disclosed for purposes of conducting quality or peer reviews, and disclosures that are necessary because of the tax return preparer’s death or incapacity. Current Actions: There is no change to this existing regulation. Type of Review: Extension of currently approved collection. Affected Public: Business or other forprofit organizations. Estimated Number of Respondents: 250,000. Estimated Time per Respondent: 1 hour. Estimated Total Annual Burden Hours: 250,000. 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. VerDate Sep<11>2014 18:10 Mar 25, 2024 Jkt 262001 Approved: March 20, 2024. Molly J. Stasko, Senior Tax Analyst. [FR Doc. 2024–06397 Filed 3–25–24; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Sales of Business Property 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 general public and other Federal agencies to take this opportunity to comment on continuing information collections, as required by the Paperwork Reduction Act of 1995. The IRS is soliciting comments concerning sales of business property. DATES: Written comments should be received on or before May 28, 2024 to be assured of consideration. ADDRESSES: Direct all written comments to Andres Garcia, Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC 20224 or by email to pra.comments@irs.gov. Please reference ‘‘OMB Control Number 1545–0184’’ in the Subject line of the message. SUMMARY: FOR FURTHER INFORMATION CONTACT: Requests for additional information or copies of the form should be directed to Sara Covington, at (202) 317–5744 or Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC 20224, or through the internet, at sara.l.covington@irs.gov. SUPPLEMENTARY INFORMATION: Title: Sales of Business Property. OMB Number: 1545–0184. Form Number: Form 4797. Abstract: Form 4797 is used by taxpayers to report sales, exchanges, or involuntary conversions of assets used in a trade or business. It is also used to compute ordinary income from recapture and the recapture of prior year losses under section 1231 of the Internal Revenue Code. Current Actions: There are no changes being made to the form at this time. The forms are being submitted for renewal purposes only. Type of Review: Extension of a currently approved collection. PO 00000 Frm 00235 Fmt 4703 Sfmt 4703 Affected Public: Business or other forprofit organizations, individuals or households, and farms. Estimated Number of Respondents: 799,282. Estimated Time per Response: 51 hours, 12 minutes. Estimated Total Annual Burden Hours: 40,859,296. 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. 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: March 20, 2024. Sara L. Covington, IRS Tax Analyst. [FR Doc. 2024–06383 Filed 3–25–24; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Form 843 Internal Revenue Service (IRS), Treasury. ACTION: Notice and request for comments. AGENCY: The Internal Revenue Service (IRS), as part of its continuing effort to SUMMARY: E:\FR\FM\26MRN1.SGM 26MRN1

Agencies

[Federal Register Volume 89, Number 59 (Tuesday, March 26, 2024)]
[Notices]
[Page 21174]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-06383]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Sales of Business 
Property

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 general public 
and other Federal agencies to take this opportunity to comment on 
continuing information collections, as required by the Paperwork 
Reduction Act of 1995. The IRS is soliciting comments concerning sales 
of business property.

DATES: Written comments should be received on or before May 28, 2024 to 
be assured of consideration.

ADDRESSES: Direct all written comments to Andres Garcia, Internal 
Revenue Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC 
20224 or by email to [email protected]. Please reference ``OMB 
Control Number 1545-0184'' in the Subject line of the message.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the form should be directed to Sara Covington, at (202) 317-
5744 or Internal Revenue Service, Room 6526, 1111 Constitution Avenue 
NW, Washington, DC 20224, or through the internet, at 
[email protected].

SUPPLEMENTARY INFORMATION: 
    Title: Sales of Business Property.
    OMB Number: 1545-0184.
    Form Number: Form 4797.
    Abstract: Form 4797 is used by taxpayers to report sales, 
exchanges, or involuntary conversions of assets used in a trade or 
business. It is also used to compute ordinary income from recapture and 
the recapture of prior year losses under section 1231 of the Internal 
Revenue Code.
    Current Actions: There are no changes being made to the form at 
this time. The forms are being submitted for renewal purposes only.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations, 
individuals or households, and farms.
    Estimated Number of Respondents: 799,282.
    Estimated Time per Response: 51 hours, 12 minutes.
    Estimated Total Annual Burden Hours: 40,859,296.
    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.
    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: March 20, 2024.
Sara L. Covington,
IRS Tax Analyst.
[FR Doc. 2024-06383 Filed 3-25-24; 8:45 am]
BILLING CODE 4830-01-P


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