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View ICR - OIRA Conclusion

OMB Control No: 1545-1491	ICR Reference No: 201710-1545-019
Status: Historical Active	Previous ICR Reference No: 201409-1545-008
Agency/Subagency: TREAS/IRS	Agency Tracking No:
Title: TD 8746 - Amortizable Bond Premium
Type of Information Collection: Revision of a currently approved collection	Common Form ICR: No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 04/26/2018
	Date Received in OIRA: 02/14/2018
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	04/30/2021	36 Months From Approved	04/30/2018
Responses	5,000	0	10,000
Time Burden (Hours)	2,500	0	7,500
Cost Burden (Dollars)	0	0	0

ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to New Statute
Annual Number of Responses	5,000	10,000	-5,000
Annual Time Burden (Hours)	2,500	7,500	-5,000
Annual Cost Burden (Dollars)	0	0	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: Under §1.171-4(a)(1), a holder makes the election to amortize bond premium in the holder’s timely filed income tax return for the first taxable year to which the holder desires the election to apply. This section also provides that the holder should attach to the return a statement that the holder is making the election under this section. We estimate 5,000 taxpayers will be affected by this requirement and that it will take approximately 0.5 hours to prepare this statement. The burden for the requirement is approximately 2,500 hours. The primary change is to remove the material relating to the automatic consent accounting method change in sections 1.163-13(h)(2) and 1.171-5(c)(2)—this material no longer applies to any taxpayer and reduces the number of respondents by 5000 resulting in a reduction of 5000 hours in annual burden.

Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination. No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination. No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? Uncollected

Agency Contact: William Blanchard 202 622-3950

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