80 FR 79651 - Proposed Collection; Comment Request for Form 6252

DEPARTMENT OF THE TREASURY
Internal Revenue Service

Federal Register Volume 80, Issue 245 (December 22, 2015)

Page Range		79651-79651
FR Document		2015-32152

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 6252, Installment Sale Income.

Federal Register, Volume 80 Issue 245 (Tuesday, December 22, 2015)

[Federal Register Volume 80, Number 245 (Tuesday, December 22, 2015)]
[Notices]
[Page 79651]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-32152]


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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.

-----------------------------------------------------------------------

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 6252, Installment Sale Income.

DATES: Written comments should be received on or before February 22, 
2016 to be assured of consideration.

ADDRESSES: Direct all written comments to Michael A. Joplin, 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 Martha R. 
Brinson, Internal Revenue Service, Room 6129, 1111 Constitution Avenue 
NW., Washington, DC 20224, or 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: December 15, 2015.
Michael A. Joplin,
IRS Reports Clearance Officer.
[FR Doc. 2015-32152 Filed 12-21-15; 8:45 am]
 BILLING CODE 4830-01-P

Federal Register / Vol. 80, No. 245 / Tuesday, December 22, 2015 / Notices 79651

comment on the Plan may do so at: Service, Room 6129, 1111 Constitution of the burden of the collection of
http://www.regulations.gov/ Avenue NW., Washington, DC 20224. information; (c) ways to enhance the
#!docketDetail;D=DOT-OST-2015-0248. FOR FURTHER INFORMATION CONTACT: quality, utility, and clarity of the
Agenda: The agenda includes: Requests for additional information or information to be collected; (d) ways to
(1) Welcome and opening remarks; copies of the form and instructions minimize the burden of the collection of
(2) Update on FAST Act Freight should be directed to Martha R. Brinson, information on respondents, including
provisions; Internal Revenue Service, Room 6129, through the use of automated collection
(3) Discussion on the draft National Freight 1111 Constitution Avenue NW., techniques or other forms of information
Strategic Plan Washington, DC 20224, or through the technology; and (e) estimates of capital
(4) Public comment. or start-up costs and costs of operation,
Internet at Martha.R.Brinson@irs.gov.
Public Participation: To participate in SUPPLEMENTARY INFORMATION: maintenance, and purchase of services
this meeting, members of the public Title: Installment Sale Income. to provide information.
must pre-register by emailing nfac@ OMB Number: 1545–0228. Approved: December 15, 2015.
dot.gov with name, affiliation, and Form Number: 6252. Michael A. Joplin,
contact information no later than Abstract: Internal Revenue Code IRS Reports Clearance Officer.
Monday, January 4, 2016. Upon email section 453 provides that if real or [FR Doc. 2015–32152 Filed 12–21–15; 8:45 am]
receipt, interested persons will receive a personal property is disposed of at a BILLING CODE 4830–01–P
link to the webinar portal and gain and at least one payment is to be
conference line. received in a tax year after the year of
Written comments: Persons who wish sale, the income is to be reported in DEPARTMENT OF THE TREASURY
to submit written comments for installments, as payment is received.
consideration by the Committee must Form 6252 provides for the computation Internal Revenue Service
email nfact@dot.gov or send them to of income to be reported in the year of
John Drake, Deputy Assistant Secretary sale and in years after the year of sale. Proposed Collection; Comment
for Transportation Policy, National It also provides for the computation of Request for Form 1099–K
Freight Advisory Committee, 1200 New installment sales between certain
Jersey Avenue SE., W82–320, AGENCY: Internal Revenue Service (IRS),
related parties required by Code section Treasury.
Washington, DC 20590 by January 4, 453(e).
2016 to provide sufficient time for ACTION: Notice and request for
Current Actions: There are no changes
review. being made to the form at this time. comments.
Dated: December 15, 2015. Type of Review: Extension of a SUMMARY: The Department of the
John Drake, currently approved collection. Treasury, as part of its continuing effort
Deputy Assistant Secretary for Transportation Affected Public: Business of other for- to reduce paperwork and respondent
Policy. profit organizations, individuals or burden, invites the general public and
[FR Doc. 2015–32090 Filed 12–21–15; 8:45 am]
households, and farms. other Federal agencies to take this
Estimated Number of Respondents: opportunity to comment on proposed
BILLING CODE 4910–9X–P
521,898. and/or continuing information
Estimated Time per Respondent: 3 collections, as required by the
hrs., 4 minutes. Paperwork Reduction Act of 1995,
DEPARTMENT OF THE TREASURY Estimated Total Annual Burden Public Law 104–13 (44 U.S.C.
Internal Revenue Service Hours: 1,597,008. 3506(c)(2)(A)). Currently, the IRS is
The following paragraph applies to all soliciting comments concerning Form
Proposed Collection; Comment of the collections of information covered 1099–K, Payment Card and Third Party
Request for Form 6252 by this notice: Network Transactions.
An agency may not conduct or
AGENCY: Internal Revenue Service (IRS), DATES: Written comments should be
sponsor, and a person is not required to
Treasury. received on or before February 22, 2016
respond to, a collection of information
ACTION: Notice and request for
to be assured of consideration.
unless the collection of information
comments. displays a valid OMB control number. ADDRESSES: Direct all written comments
Books or records relating to a collection to Michael A. Joplin, Internal Revenue
SUMMARY: The Department of the of information must be retained as long Service, Room 6129, 1111 Constitution
Treasury, as part of its continuing effort as their contents may become material Avenue NW., Washington, DC 20224.
to reduce paperwork and respondent in the administration of any internal FOR FURTHER INFORMATION CONTACT:
burden, invites the general public and revenue law. Generally, tax returns and Requests for additional information or
other Federal agencies to take this tax return information are confidential, copies of the form and instructions
opportunity to comment on proposed as required by 26 U.S.C. 6103. should be directed to Martha R. Brinson,
and/or continuing information REQUEST FOR COMMENTS: Internal Revenue Service, Room 6129,
collections, as required by the Comments submitted in response to this 1111 Constitution Avenue NW.,
Paperwork Reduction Act of 1995, notice will be summarized and/or Washington, DC 20224, or through the
Public Law 104–13 (44 U.S.C. included in the request for OMB Internet at Martha.R.Brinson@irs.gov.
3506(c)(2)(A)). Currently, the IRS is
mstockstill on DSK4VPTVN1PROD with NOTICES

approval. All comments will become a SUPPLEMENTARY INFORMATION:
soliciting comments concerning Form matter of public record. Comments are Title: Payment Card and Third Party
6252, Installment Sale Income. invited on: (a) Whether the collection of Network Transactions.
DATES: Written comments should be information is necessary for the proper OMB Number: 1545–2205.
received on or before February 22, 2016 performance of the functions of the Form Number: Form 1099–K.
to be assured of consideration. agency, including whether the Abstract: This form is in response to
ADDRESSES: Direct all written comments information shall have practical utility; section 3091(a) of Public Law 110–289,
to Michael A. Joplin, Internal Revenue (b) the accuracy of the agency’s estimate the Housing Assistance Tax Act of 2008

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Document Created: 2015-12-22 02:31:16
Document Modified: 2015-12-22 02:31:16

Category		Regulatory Information
Collection		Federal Register
sudoc Class		AE 2.7: GS 4.107: AE 2.106:
Publisher		Office of the Federal Register, National Archives and Records Administration
Section		Notices
Action		Notice and request for comments.
Dates		Written comments should be received on or before February 22, 2016 to be assured of consideration.
Contact		Requests for additional information or copies of the form and instructions should be directed to Martha R. Brinson, Internal Revenue Service, Room 6129, 1111 Constitution Avenue NW., Washington, DC 20224, or through the Internet at [email protected]
FR Citation		80 FR 79651

80 FR 79651 - Proposed Collection; Comment Request for Form 6252

DEPARTMENT OF THE TREASURYInternal Revenue Service

Federal Register Volume 80, Issue 245 (December 22, 2015)

DEPARTMENT OF THE TREASURY
Internal Revenue Service