[Federal Register Volume 79, Number 27 (Monday, February 10, 2014)]
[Notices]
[Pages 7741-7742]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-02847]


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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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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 
the election to expense certain depreciable business assets.

DATES: Written comments should be received on or before April 11, 2014 
to be assured of consideration.

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

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of this regulation should be directed to R. Joseph Durbala, 
(202) 317-5746, Internal Revenue Service, room 6129, 1111 Constitution 
Avenue NW., Washington, DC 20224 or through the Internet at 
[email protected].

SUPPLEMENTARY INFORMATION: 
    Title: Election to Expense Certain Depreciable Business Assets.
    OMB Number: 1545-1201.
    Regulation Project Number: TD 9209(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 these existing regulations. 
However, we

[[Page 7742]]

are updating the reported OMB burden estimates to be consistent with 
what was provided in the regulations.
    Type of Review: Revision of a currently approved collection.
    Affected Public: Individuals or households, farms, and business or 
other for-profit organizations.
    Estimated Number of Respondents: 4,025,000.
    Estimated Time Per Respondent: 45 min.
    Estimated Total Annual Burden Hours: 3,015,000.
    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: January 28, 2014.
Christie Preston,
Supervisory Tax Analyst, Internal Revenue Service.
[FR Doc. 2014-02847 Filed 2-7-14; 8:45 am]
BILLING CODE 4830-01-P