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Federal forms, ICRs, and supporting documents

Information Collection Request

Regulations under Section 1258 of the Internal Revenue Code of 1986; Netting Rule for Certain Conversion Transactions -- FI-43-94 (Final)

ICR 199712-1545-032 · OMB 1545-1452 · Historical Active

Forms and Documents
DocumentTypeStatusAvailability
No forms / supporting documents in this ICR. Check IC Document Collections.
IC Document Collections
IC IDCollectionTypeStatusForm
18372 Regulations under Section 1258 of the Internal Revenue Code of 1986; Netting Rule for Certain Conversion Transactions -- FI-43-94 (Final) Migrated
ICR Details
1545-1452 199712-1545-032
Historical Active 199511-1545-005
TREAS/IRS
Regulations under Section 1258 of the Internal Revenue Code of 1986; Netting Rule for Certain Conversion Transactions -- FI-43-94 (Final)
Extension without change of a currently approved collection   No
Regular
Approved without change 02/11/1998
Retrieve Notice of Action (NOA) 12/29/1997
The agency is not required to display the expiration date.
  Inventory as of this Action Requested Previously Approved
02/28/2001 02/28/2001 02/28/1998
50,000 0 50,000
5,000 0 5,000
0 0 0
Section 1258 recharacterizes capital gains from conversion transactions as ordinary income to the extent of the time value element. This regulation provides that certain gains and losses may be netted for purposes of determining the amount of gain recharacterized.
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 50,000 50,000 0 0 0 0
Annual Time Burden (Hours) 5,000 5,000 0 0 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
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.
12/29/1997