82 FR 55715 - Proposed Collection; Comment Request for Regulation Project

DEPARTMENT OF THE TREASURY
Internal Revenue Service

Federal Register Volume 82, Issue 224 (November 22, 2017)

Page Range		55715-55715
FR Document		2017-25221

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 sales of business property.

Federal Register, Volume 82 Issue 224 (Wednesday, November 22, 2017)

[Federal Register Volume 82, Number 224 (Wednesday, November 22, 2017)]
[Notices]
[Page 55715]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-25221]


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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 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 sales 
of business property.

DATES: Written comments should be received on or before January 22, 
2018 to be assured of consideration.

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

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the revenue procedure 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: Sales of Business Property.
    OMB Number: 1545-0184.
    Form Number: Form 4797.
    Abstract: Form 4797 is used by taxpayers to report sales, 
exchanges, or involuntary conversions of assets used in a trade or 
business. It is also used to compute ordinary income from recapture and 
the recapture of prior year losses under section 1231 of the Internal 
Revenue Code.
    Current Actions: There have been no changes to the form that would 
affect burden. However, the agency has updated the estimated number of 
responses, based on its most recent data and creation of OMB Control 
Number's 1545-0074 and 1545-0123. All business filer estimates 
(including the worksheet burden) are being reported under 1545-0123, 
individual filing estimates under 1545-0074, and all other filers are 
being reported under this control number, 1545-0184.
    Type of Review: Revision of a currently approved collection.
    Affected Public: Business or other for-profit organizations, 
individuals or households, and farms.
    Estimated Number of Respondents: 325,000.
    Estimated Time per Respondent: 50 hours, 38 minutes.
    Estimated Total Annual Burden Hours: 16,454,750.
    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 15, 2017.
L. Brimmer,
Senior Tax Analyst.
[FR Doc. 2017-25221 Filed 11-21-17; 8:45 am]
 BILLING CODE P

Federal Register / Vol. 82, No. 224 / Wednesday, November 22, 2017 / Notices 55715

The following paragraph applies to all Notice and request for
ACTION: Affected Public: Business or other for-
of the collections of information covered comments. profit organizations, individuals or
by this notice: households, and farms.
An agency may not conduct or SUMMARY: The Internal Revenue Service,
Estimated Number of Respondents:
sponsor, and a person is not required to as part of its continuing effort to reduce
325,000.
respond to, a collection of information paperwork and respondent burden,
invites the general public and other Estimated Time per Respondent: 50
unless the collection of information hours, 38 minutes.
displays a valid OMB control number. Federal agencies to take this
opportunity to comment on continuing Estimated Total Annual Burden
Books or records relating to a collection
information collections, as required by Hours: 16,454,750.
of information must be retained as long
as their contents may become material the Paperwork Reduction Act of 1995. The following paragraph applies to all
in the administration of any internal The IRS is soliciting comments of the collections of information covered
revenue law. Generally, tax returns and concerning sales of business property. by this notice.
tax return information are confidential, DATES: Written comments should be An agency may not conduct or
as required by 26 U.S.C. 6103. received on or before January 22, 2018 sponsor, and a person is not required to
Request for Comments: Comments to be assured of consideration. respond to, a collection of information
submitted in response to this notice will ADDRESSES: Direct all written comments unless the collection of information
be summarized and/or included in the to L. Brimmer, Internal Revenue displays a valid OMB control number.
request for OMB approval. All Service, Room 6529, 1111 Constitution Books or records relating to a collection
comments will become a matter of Avenue NW., Washington, DC 20224. of information must be retained as long
public record. Comments are invited on: FOR FURTHER INFORMATION CONTACT: as their contents may become material
(a) Whether the collection of Requests for additional information or in the administration of any internal
information is necessary for the proper copies of the revenue procedure should revenue law. Generally, tax returns and
performance of the functions of the be directed to Kerry Dennis, at (202) tax return information are confidential,
agency, including whether the 317–5751 or Internal Revenue Service, as required by 26 U.S.C. 6103.
information shall have practical utility; Room 6529, 1111 Constitution Avenue Request for Comments: Comments
(b) the accuracy of the agency’s estimate NW., Washington DC 20224, or through submitted in response to this notice will
of the burden of the collection of the internet, at Kerry.Dennis@irs.gov. be summarized and/or included in the
information; (c) ways to enhance the SUPPLEMENTARY INFORMATION: request for OMB approval. All
quality, utility, and clarity of the Title: Sales of Business Property. comments will become a matter of
information to be collected; (d) ways to OMB Number: 1545–0184. public record. Comments are invited on:
minimize the burden of the collection of Form Number: Form 4797. (a) Whether the collection of
information on respondents, including Abstract: Form 4797 is used by information is necessary for the proper
through the use of automated collection taxpayers to report sales, exchanges, or performance of the functions of the
techniques or other forms of information involuntary conversions of assets used agency, including whether the
technology; and (e) estimates of capital in a trade or business. It is also used to information shall have practical utility;
or start-up costs and costs of operation, compute ordinary income from (b) the accuracy of the agency’s estimate
maintenance, and purchase of services recapture and the recapture of prior year of the burden of the collection of
to provide information. losses under section 1231 of the Internal information; (c) ways to enhance the
Approved: November 13, 2017.
Revenue Code. quality, utility, and clarity of the
Current Actions: There have been no information to be collected; (d) ways to
L. Brimmer, changes to the form that would affect minimize the burden of the collection of
Senior Tax Analyst. burden. However, the agency has information on respondents, including
[FR Doc. 2017–25300 Filed 11–21–17; 8:45 am] updated the estimated number of through the use of automated collection
BILLING CODE 4830–01–P responses, based on its most recent data techniques or other forms of information
and creation of OMB Control Number’s technology; and (e) estimates of capital
1545–0074 and 1545–0123. All business or start-up costs and costs of operation,
DEPARTMENT OF THE TREASURY filer estimates (including the worksheet maintenance, and purchase of services
burden) are being reported under 1545– to provide information.
Internal Revenue Service
0123, individual filing estimates under
Approved: November 15, 2017.
Proposed Collection; Comment 1545–0074, and all other filers are being
reported under this control number, L. Brimmer,
Request for Regulation Project Senior Tax Analyst.
1545–0184.
AGENCY: Internal Revenue Service (IRS), Type of Review: Revision of a [FR Doc. 2017–25221 Filed 11–21–17; 8:45 am]
Treasury. currently approved collection. BILLING CODE P
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Document Created: 2017-11-22 00:49:15
Document Modified: 2017-11-22 00:49:15

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 January 22, 2018 to be assured of consideration.
Contact		Requests for additional information or copies of the revenue procedure 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]
FR Citation		82 FR 55715

82 FR 55715 - Proposed Collection; Comment Request for Regulation Project

DEPARTMENT OF THE TREASURYInternal Revenue Service

Federal Register Volume 82, Issue 224 (November 22, 2017)

DEPARTMENT OF THE TREASURY
Internal Revenue Service