Form 4684 is used by taxpayers to compute their gain or loss from casualties or thefts, and to summarize such gains and losses. The data is used to verify that the correct gain or loss has been computed.
US Code:
26 USC 1231
Name of Law: Property used in the trade or business and involuntary conversions
US Code:
26 USC 6103
Name of Law: Confidentiality and disclosure of returns and return information
US Code:
26 USC 165
Name of Law: Losses
PL: Pub.L. 110 - 343 706 Name of Law: Losses attributable to federally declared disasters.
PL: Pub.L. 110 - 343 709 Name of Law: Waiver of certain mortgage revenue bond requirements following federally declared disasters.
PL: Pub.L. 111 - 5 1008 Name of Law: The American Recovery and Reinvestment Act of 2009
Form 4684 is used by taxpayers to compute their gain or loss from casualties or thefts, and to summarize such gains and losses. The data is used to verify that the correct gain or loss has been computed.
The Emergency Economic Stabilization Act of 2008 (PL 110-343), increased the personal casualty and theft loss limit for tax 2009. Losses must exceed $500 to be allowed in 2009. This is in addition to the 10% of AGI limit that generally applies to the net loss. However, for tax year 2010, the loss limit was decreased to $100.
If a taxpayer claims a net disaster loss as part of their standard deduction, they must complete new Schedule L (Form 1040A or 1040). As a result of this change, line 18a is now line 18 and we deleted line 18b because filers claiming disaster losses as part of the standard deduction will have to complete and attach new Schedule L (Form 1040A or Form 1040), in accordance with PL 111-5, Div. B, sec. 1008 (The American Recovery and Reinvestment Act of 2009).
Losses in the Midwestern disaster area would have been claimed in 2008, not 2009. Therefore, the lines to claim these losses (Lines 20 and 21), were deleted in accordance with PL 110-343, Emergency Economic Stabilization Act of 2008.
The result of these changes is an increase in the estimated number of responses by 155,017 and a total of 832,727 burden hours.
$12,739
No
No
No
Uncollected
Yes
Uncollected
Robyn Magruder-Matthews 202 622-4183
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.
Form Form 4684 Casualties and Thefts
Summary of Changes Form 4684.pdf
Expiration Explanation.rtf
df4684_2009Sup Stmnt.doc
Casualties and Thefts