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Federal forms, ICRs, and supporting documents

Information Collection Request

TD 8556 (Final) - Computation and Characterization of Income and Earnings and Profits Under the Dollar Approximate Separate Transactions Method of Accounting (DASTM)

ICR 201704-1545-016 · OMB 1545-1051 · Historical Active

Forms and Documents
DocumentTypeStatusAvailability
2017-04-24 SS 1545-1051r.doc Supporting Statement A Uploaded 2017-04-24 Available
IC Document Collections
IC IDCollectionTypeStatusForm
17745 TD 8556 (Final) - Computation and Characterization of Income and Earnings and Profits Under the Dollar Approximate Separate Transactions Method of Accounting (DASTM) Modified
ICR Details
1545-1051 201704-1545-016
Historical Active 201309-1545-057
TREAS/IRS
TD 8556 (Final) - Computation and Characterization of Income and Earnings and Profits Under the Dollar Approximate Separate Transactions Method of Accounting (DASTM)
Extension without change of a currently approved collection   No
Regular
Approved without change 08/30/2017
Retrieve Notice of Action (NOA) 05/24/2017
  Inventory as of this Action Requested Previously Approved
08/31/2020 36 Months From Approved 08/31/2017
1,650 0 1,650
1,000 0 1,000
0 0 0
For taxable years after the final regulations are effective, taxpayers operating in hyperinflationary currencies must use the U.S. dollar as their functional currency and compute income using the dollar approximate separate transactions method (DASTM). Small taxpayers may elect an alternate method by which to compute income or loss. For prior taxable years in which income was computed using the profit and loss method, taxpayers may elect to recompute their income using DASTM.
US Code: 26 USC 985 Name of Law: Functional currency
   US Code: 26 USC 6103 Name of Law: Confidentiality and disclosure of returns and return information
  
None
Not associated with rulemaking
  82 FR 12277 03/01/2017
82 FR 23488 05/22/2017
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 1,650 1,650 0 0 0 0
Annual Time Burden (Hours) 1,000 1,000 0 0 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No
$0
No
    No
    No
No
No
No
Uncollected
Raymond Stahl 202 317-6938
  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.
05/24/2017