[Federal Register Volume 76, Number 111 (Thursday, June 9, 2011)]
[Notices]
[Page 33814]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2011-14286]



[[Page 33814]]

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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Regulation Project

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

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    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)). The 
IRS is soliciting comments concerning information collection 
requirements related to Additional First Year Depreciation Deduction.

DATES: Written comments should be received on or before August 8, 2011 
to be assured of consideration.

ADDRESSES: Direct all written comments to Yvette B. Lawrence, Internal 
Revenue Service, Room 6129, 1111 Constitution Avenue, NW., Washington, 
DC 20224.

FOR FURTHER INFORMATION CONTACT: Requests for copies of regulation 
should be directed to Joel Goldberger, at the Internal Revenue Service, 
Room 6129, 1111 Constitution Avenue, NW., Washington, DC 20224, by 
phone at (202) 927-9368, or on the Internet at 
[email protected].

SUPPLEMENTARY INFORMATION: 
    Title: Additional First Year Depreciation Deduction.
    OMB Number: 1545-2207.
    Regulation Project Number: Revenue Procedure 2011-26.
    Abstract: This revenue procedure provides guidance under Sec.  
2022(a) of the Small Business Jobs Act of 2010, Public Law 111-240, 124 
Stat. 2504 (September 27, 2010) (SBJA), and Sec.  401(a) and (b) of the 
Tax Relief, Unemployment Insurance Reauthorization, and Job Creation 
Act of 2010, Public Law 111-312, 124 Stat. 3296 (December 17, 2010) 
(TRUIRJCA). Sections 2022(a) of the SBJA and 401(a) of the TRUIRJCA 
amend Sec.  168(k)(2) of the Internal Revenue Code by extending the 
placed-in-service date for property to qualify for the 50-percent 
additional first year depreciation deduction. Section 401(b) of the 
TRUIRJCA amends Sec.  168(k) by adding Sec.  168(k)(5), which 
temporarily allows a 100-percent additional first year depreciation 
deduction for certain new property.
    Current Actions: There is no change to this existing regulation.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit; individuals or 
households.
    Estimated Number of Respondents: 250,000.
    Estimated Time per Respondent: 30 minutes.
    Estimated Total Annual Burden Hours: 125,000.
    The following paragraph applies to all of the collections of 
information covered by this notice:
    An agency may not conduct or sponsor, and a person is not required 
to respond to, a collection of information unless the collection of 
information displays a valid OMB control number. Books or records 
relating to a collection of information must be retained as long as 
their contents may become material in the administration of any 
internal revenue law. Generally, tax returns and tax return information 
are confidential, as required by 26 U.S.C. 6103.
    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: May 19, 2011.
Yvette B. Lawrence,
IRS Reports Clearance Officer.
[FR Doc. 2011-14286 Filed 6-8-11; 8:45 am]
BILLING CODE 4830-01-P