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Federal forms, ICRs, and supporting documents

Information Collection Request

Clear Reflection of Income in the Case of Hedging Transactions

ICR 202202-1545-018 · OMB 1545-1412 · Received in OIRA

Forms and Documents
DocumentTypeStatusAvailability
Supporting Statement-1545-1412 TD 8554.docx Supporting Statement A Uploaded 2022-04-13 Missing upstream
IC Document Collections
IC IDCollectionTypeStatusForm
18270 ?1.446-4 Hedging transactions. Unchanged
ICR Details
1545-1412 202202-1545-018
Received in OIRA 201808-1545-018
TREAS/IRS
Clear Reflection of Income in the Case of Hedging Transactions
Extension without change of a currently approved collection   No
Regular 04/29/2022
  Requested Previously Approved
36 Months From Approved 04/30/2022
100,000 100,000
20,000 20,000
0 0
On October 20, 1993, the IRS published in the Federal Register (58 FR 54077) a notice of proposed rulemaking (FI-54-93) relating to the accounting for business hedging transactions. This notice also contained proposed amendments to regulations under sections 446 and 461 of the Code. TD 8554 contains the final regulations relating to accounting for business hedging transactions. These previously approved final regulations provide guidance to taxpayers regarding when gain or loss from common business hedging transactions is recognized for tax purposes.
US Code: 26 USC 446 Name of Law: General rule for methods of accounting
   US Code: 26 USC 461 Name of Law: General rule for taxable year of deduction
  
None
Not associated with rulemaking
  87 FR 6649 02/04/2022
87 FR 25357 04/28/2022
No
1
IC Title Form No. Form Name
§1.446-4 Hedging transactions.
  Total Request 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 100,000 100,000 0 0 0 0
Annual Time Burden (Hours) 20,000 20,000 0 0 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No
$0
No
    No
    No
No
No
No
No
William Blanchard 202 317-3900
  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.
04/29/2022