Section 301.9100-8 establishes various elections with respect to which immediate interim guidance on the time and manner of making the elections is necessary. These regulations enable taxpayers to take advantage of the benefits of various Code provisions.
US Code:
26 USC 474
Name of Law: Simplified dollar-value LIFO method for certain small business
US Code:
26 USC 7805
Name of Law: Rules and regulations
This revision makes adjustments to correct the calculation of the burden associated with the elections identified under §301.9100-8.
$0
No
No
No
No
No
Uncollected
John Sapienza 202 622-4920
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.
26 CFR 301.9100-8.pdf
1545-1112_SS_JAN2014 revised.doc
26 CFR 301.9100-8 - Time and Manner of Making Certain Elections Under the Technical and Miscellaneous Revenue Act of 1988