Depreciation and Amortization (Including Information on Listed Property)

Forms and Documents

Document Name	Status
Form 4562 Depreciation and Amortization (Including Information on Listed Property( Form	Modified
4562 Wrksht brdn_busi.pdf Supplementary Document	2007-06-29
brdn_busi.pdf Supplementary Document	2007-06-29
ombat2.doc Supplementary Document	2007-06-29
SSNFORM.doc Supporting Statement A	2007-06-29

IC Document Collections

IC ID	Document Title	Status
39663	Depreciation and Amortization (Including Information on Listed Property( Form	Modified

ICR Details

OMB Control No: 1545-0172	ICR Reference No: 200706-1545-056
Status: Historical Active	Previous ICR Reference No: 200511-1545-053
Agency/Subagency: TREAS/IRS	Agency Tracking No:
Title: Depreciation and Amortization (Including Information on Listed Property)
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 11/02/2007
	Date Received in OIRA: 08/17/2007
Terms of Clearance: This form is used by individual and other taxpayers. The portion of the burden imposed on individual taxpayers is approved under OMB Control Number 1545-0074. In its next submission under this OMB Control Number, the agency is instructed to ensure that the estimate of burden associated with this Control Number includes only the burden imposed on non-individual taxpayers. If the agency finds that the current burden estimate includes burden imposed on individual taxpayers, it must immediately submit an adjustment request that eliminates this double-counting.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	11/30/2010	36 Months From Approved	11/30/2007
Responses	4,800,000	0	4,800,000
Time Burden (Hours)	217,399,275	0	217,399,275
Cost Burden (Dollars)	0	0	0

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Abstract: Taxpayers use Form 4562 to: (1 claim a deduction for depreciation and/or amortization; (2) make a section 179 election to expense depreciable assets; and (3) answer questions regarding the use of automobiles and other listed property to substantiate the business use under section 274(d).

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Authorizing Statute(s): US Code: 26 USC 274(d) Name of Law: Disallowance of certain entertainment, etc., expenses
   US Code: 26 USC 179 Name of Law: Election to expense certain depreciable business assets
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	72 FR 19769	04/19/2007
30-day Notice:	Federal Register Citation:	Citation Date:
	72 FR 44609	08/08/2007
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Depreciation and Amortization (Including Information on Listed Property(	4562	Depreciation and Amortization (Including Information on Listed Property)

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ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	4,800,000	4,800,000	0	0	0	0
Annual Time Burden (Hours)	217,399,275	217,399,275	0	0	0	0
Annual Cost Burden (Dollars)	0	0	0	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:

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Annual Cost to Federal Government: $39,100

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

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? Uncollected

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? Uncollected

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? Uncollected

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).

The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(i) Why the information is being collected;

(ii) Use of information;

(iii) Burden estimate;

(iv) Nature of response (voluntary, required for a benefit, or mandatory);

(v) Nature and extent of confidentiality; and

(vi) Need to display currently valid OMB control number;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.

Certification Date: 08/17/2007

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