[Federal Register Volume 83, Number 234 (Thursday, December 6, 2018)]
[Notices]
[Pages 62954-62955]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-26472]
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment Request for Form 6252
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Notice and request for comments.
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SUMMARY: The Internal Revenue Service, 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. Currently, the IRS is soliciting
comments concerning Form 6252, Installment Sale Income.
DATES: Written comments should be received on or before February 4,
2019 to be assured of consideration.
ADDRESSES: Direct all written comments to Laurie Brimmer, Internal
Revenue Service, Room 6526, 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 LaNita Van
Dyke, at (202) 317-6009, at Internal Revenue Service, Room 6526, 1111
Constitution Avenue NW, Washington, DC 20224, or
[[Page 62955]]
through the internet at [email protected].
SUPPLEMENTARY INFORMATION:
Title: Installment Sale Income.
OMB Number: 1545-0228.
Form Number: 6252.
Abstract: Internal Revenue Code section 453 provides that if real
or personal property is disposed of at a gain and at least one payment
is to be received in a tax year after the year of sale, the income is
to be reported in installments, as payment is received. Form 6252
provides for the computation of income to be reported in the year of
sale and in years after the year of sale. It also provides for the
computation of installment sales between certain related parties
required by Code section 453(e).
Current Actions: There are no changes being made to the form at
this time.
Type of Review: Extension of a currently approved collection.
Affected Public: Business of other for-profit organizations,
individuals or households, and farms.
Estimated Number of Respondents: 521,898.
Estimated Time per Respondent: 3 hrs., 4 minutes.
Estimated Total Annual Burden Hours: 1,597,008.
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: November 26, 2018.
Laurie Brimmer,
Senior Tax Analyst.
[FR Doc. 2018-26472 Filed 12-4-18; 8:45 am]
BILLING CODE 4830-01-P