[Federal Register Volume 82, Number 87 (Monday, May 8, 2017)]
[Notices]
[Pages 21456-21457]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-09265]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment Request for Form 4952
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. Currently, the IRS is soliciting
comments concerning Form 4952, Investment Interest Expense Deduction.
DATES: Written comments should be received on or before July 7, 2017 to
be assured of consideration.
ADDRESSES: Direct all written comments to Laurie Brimmer, Internal
Revenue Service, Room 6526, 1111 Constitution Avenue NW., Washington,
DC 20224. Requests for additional information or copies of the form and
instructions should be directed to LaNita Van Dyke, at Internal Revenue
Service, Room 6526, 1111 Constitution Avenue NW., Washington, DC 20224,
or at or through the internet at [email protected].
SUPPLEMENTARY INFORMATION:
Title: Investment Interest Expense Deduction.
OMB Number: 1545-0191.
Form Number: Form 4952.
Abstract: Interest expense paid by an individual, estate, or trust
on a loan allocable to property held for investment may not be fully
deductible in the current year. Form 4952 is used to compute the amount
of investment interest expense deductible for the current year and the
amount, if any, to carry forward to future years.
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: Individuals or households and business or other
for-profit organizations.
Estimated Number of Respondents: 137,064.
Estimated Time per Respondent: 1 hour, 30 minutes.
Estimated Total Annual Burden Hours: 205,596.
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
[[Page 21457]]
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: May 1, 2017.
Laurie Brimmer,
IRS Reports Clearance Officer.
[FR Doc. 2017-09265 Filed 5-5-17; 8:45 am]
BILLING CODE 4830-01-P