[Federal Register Volume 85, Number 75 (Friday, April 17, 2020)]
[Notices]
[Pages 21507-21508]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-08131]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request Concerning Depreciation and 
Amortization

AGENCY: Internal Revenue Service (IRS), Treasury.

[[Page 21508]]


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 
continuing information collections, as required by the Paperwork 
Reduction Act of 1995. The IRS is soliciting comments concerning 
depreciation and amortization (including information on listed 
property).

DATES: Written comments should be received on or before June 16, 2020 
to be assured of consideration.

ADDRESSES: Direct all written comments to Ronald J. Durbala, Internal 
Revenue Service, Room 6529, 1111 Constitution Avenue NW, Washington, DC 
20224.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the form should be directed to Kerry Dennis, at (202) 317-
5751 or Internal Revenue Service, Room 6529, 1111 Constitution Avenue 
NW, Washington DC 20224, or through the internet, at 
[email protected].

SUPPLEMENTARY INFORMATION: 
    Title: Depreciation and Amortization (including Information on 
Listed Property).
    OMB Number: 1545-0172.
    Form Number: 4562.
    Abstract: Form 4562 is used to claim a deduction for depreciation 
and amortization; to make the election to expense certain tangible 
property under Internal Revenue Code section 179; and to provide 
information on the business/investment use of automobiles and other 
listed property. The form provides the IRS with the information 
necessary to determine that the correct depreciation deduction is being 
claimed.
    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 or other for-profit organization.
    Estimated Number of Respondents: 12,313,626.
    Estimated Time Per Respondent: 36.41 hours.
    Estimated Total Annual Burden Hours: 448,368,447 hours.
    The following paragraph applies to all 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 if 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: April 10, 2020.
Ronald J. Durbala,
IRS Tax Analyst.
[FR Doc. 2020-08131 Filed 4-16-20; 8:45 am]
BILLING CODE 4830-01-P