[Federal Register Volume 61, Number 112 (Monday, June 10, 1996)]
[Notices]
[Page 29448]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-14468]



=======================================================================
-----------------------------------------------------------------------

DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request For Regulation Project PS-
52-88

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

-----------------------------------------------------------------------

SUMMARY: The Department of the Treasury, as part of its continuing 
effort to reduce paperwork and respondent burden, invites the general 
public and other Federal agencies to take this opportunity to comment 
on proposed and/or continuing information collections, as required by 
the Paperwork Reduction Act of 1995, Public Law 104-13 (44 U.S.C. 
3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning an 
existing final regulation, PS-52-88 (TD 8455), Election to Expense 
Certain Depreciable Business Assets. (Secs. 1.179-2, 1.179-3).

DATES: Written comments should be received on or before August 9, 1996 
to be assured of consideration.

ADDRESSES: Direct all written comments to Garrick R. Shear, Internal 
Revenue Service, room 5571, 1111 Constitution Avenue NW., Washington, 
DC 20224.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the information collection should be directed to Carol 
Savage, (202) 622-3945, Internal Revenue Service, room 5569, 1111 
Constitution Avenue NW., Washington, DC 20224.

SUPPLEMENTARY INFORMATION:

    Title: Election to Expense Certain Depreciable Business Assets.
    OMB Number: 1545-1201.
    Regulation Project Number: PS-52-88 Final.
    Abstract: The regulations provide rules on the election described 
in Internal Revenue Code section 179(b)(4); the apportionment of the 
dollar limitation among component members of a controlled group; and 
the proper order for deducting the carryover of disallowed deduction. 
The recordkeeping and reporting requirements are necessary to monitor 
compliance with the section 179 rules.
    Current Actions: There is no change to this existing regulation.
    Type of Review: Extension of OMB approval.
    Affected Public: Individuals or households, farms, and business or 
other for-profit organizations.
    Estimated Number of Respondents: 20,000.
    Estimated Time Per Respondent: 45 minutes.
    Estimated Total Annual Burden Hours: 15,000 hours.

REQUEST FOR COMMENTS: Comments submitted in response to this notice 
will be summarized and/or included in the request for OMB approval. All 
comments will become a matter of public record. Comments are invited 
on: (a) Whether the collection of information is necessary for the 
proper performance of the functions of the agency, including whether 
the information shall have practical utility; (b) the accuracy of the 
agency's estimate of the burden of the collection of information; (c) 
ways to enhance the quality, utility, and clarity of the information to 
be collected; (d) ways to minimize the burden of the collection of 
information on respondents, including through the use of automated 
collection techniques or other forms of information technology; and (e) 
estimates of capital or start-up costs and costs of operation, 
maintenance, and purchase of services to provide information.

    Approved: June 3, 1996.
Garrick R. Shear,
IRS Reports Clearance Officer.
[FR Doc. 96-14468 Filed 6-7-96; 8:45 am]
BILLING CODE 4830-01-U