OMB approves the collection for a year. Upon renewal, Treasury will provide, in the supporting statement, more specific information on the kinds of information they are collecting through this request.
Inventory as of this Action
Requested
Previously Approved
06/30/2020
36 Months From Approved
06/30/2017
39,000
0
39,000
9,750
0
9,750
0
0
0
Section 301.9100-7T lists certain elections that are provided by Tax Reform Act of 1986 and provides general rules regarding the time and the manner for making the elections. These regulations enable taxpayers to take advantage of the benefits of various Code provisions.
US Code:
26 USC 6103
Name of Law: Confidentiality and Disclosure of Returns and Return Information
PL:
Pub.L. 99 - 514 et al.
Name of Law: Tax Reform Act of 1986
US Code:
26 USC 168
Name of Law: Accelerated cost recovery system
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.
26CFR301.9100-7T_2013.pdf
SUP STAT (TD 8124).doc
TD 8124 - Time and Manner of Making Certain Elections Under the Tax Reform Act of 1986