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Federal forms, ICRs, and supporting documents

Information Collection Request

Procedures for Electing Out of Exemptions under Section 1.475(c)-1 -- Rev. Proc. 97-43, Mark-to-Market Accounting Method for Dealers in Securities -- Rev. Rul. 97-39

ICR 199709-1545-004 · OMB 1545-1558 · Historical Active

Forms and Documents
DocumentTypeStatusAvailability
No forms / supporting documents in this ICR. Check IC Document Collections.
IC Document Collections
IC IDCollectionTypeStatusForm
18721 Procedures for Electing Out of Exemptions under Section 1.475(c)-1 -- Rev. Proc. 97-43, Mark-to-Market Accounting Method for Dealers in Securities -- Rev. Rul. 97-39 Migrated
ICR Details
1545-1558 199709-1545-004
Historical Active
TREAS/IRS
Procedures for Electing Out of Exemptions under Section 1.475(c)-1 -- Rev. Proc. 97-43, Mark-to-Market Accounting Method for Dealers in Securities -- Rev. Rul. 97-39
New collection (Request for a new OMB Control Number)   No
Emergency 09/10/1997
Approved without change 09/10/1997
Retrieve Notice of Action (NOA) 09/10/1997
The agency is not required to display the expiration date.
  Inventory as of this Action Requested Previously Approved
03/31/1998 03/31/1998
20,000 0 0
550,000 0 0
0 0 0
Rev. Proc. 97-39 provides taxpayers automatic consent to change to mark-to-market accounting for securities after the taxpayer elects under 1.475(c)-1, subject to specified terms and conditions. Rev. Rul. 97-43 provides taxpayers additional mark-to-market guidance in a question and answer format.
None
None
No
  Total Approved 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 20,000 0 0 20,000 0 0
Annual Time Burden (Hours) 550,000 0 0 550,000 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
Yes
No
$0
No
No
Uncollected
Uncollected
Uncollected
Uncollected
  No
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:
 
 
 
 
 
 
 
    (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;
 
 
 
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.
09/10/1997