[Federal Register Volume 79, Number 99 (Thursday, May 22, 2014)]
[Notices]
[Page 29504]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-11668]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Form 4684

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 
Form 4684, Casualties and Thefts.

DATES: Written comments should be received on or before July 21, 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 the form and instructions should be directed to Kerry Dennis, 
Internal Revenue Service, Room 6129, 1111 Constitution Avenue NW., 
Washington, DC 20224 or through the Internet at [email protected].

SUPPLEMENTARY INFORMATION: 
    Title: Casualties and Thefts.
    OMB Number: 1545-0177.
    Form Number: 4684.
    Abstract: Form 4684 is used by taxpayers to compute their gain or 
loss from casualties or thefts, and to summarize such gains and losses. 
The data is used to verify that the correct gain or loss has been 
computed.
    Current Actions: The department added a new section (Section C) 
which incorporates Appendix A from Revenue Procedure 2009-20. It will 
require taxpayers, claiming a theft loss deduction due to a Ponzi-type 
investment scheme and using the procedures in Rev. Proc. 2009-20, to 
include specific information supporting key eligibility requirements. 
In addition, the Department estimates an increase of 51,650 responses 
based on its most recent data on Form 4684 filings. The addition of 
section C and the estimated increase in the number of responses will 
increase the estimated annual burden hours from 1,486,659 to 1,830,400.
    Type of Review: Revision of a currently approved collection.
    Affected Public: Individuals or households and business or other 
for-profit organizations.
    Estimated Number of Respondents: 320,000.
    Estimated Time per Respondent: 5 hrs., 43 min.
    Estimated Total Annual Burden Hours: 1,830,400.
    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 9, 2014.
Christie Preston,
IRS Reports Clearance Officer.
[FR Doc. 2014-11668 Filed 5-21-14; 8:45 am]
BILLING CODE 4830-01-P