Notice2025-11774
Agency Information Collection Activities; Comment Request on Election To Postpone Determinations as to Whether the Presumption Applies That an Activity Is Engaged in for Profit
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
June 26, 2025
Issuing agencies
Treasury DepartmentInternal Revenue Service
Abstract
In accordance with the Paperwork Reduction Act of 1995, the IRS is inviting comments on the information collection request outlined in this notice.
Full Text
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<title>Federal Register, Volume 90 Issue 121 (Thursday, June 26, 2025)</title>
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[Federal Register Volume 90, Number 121 (Thursday, June 26, 2025)]
[Notices]
[Pages 27390-27391]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2025-11774]
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
Agency Information Collection Activities; Comment Request on
Election To Postpone Determinations as to Whether the Presumption
Applies That an Activity Is Engaged in for Profit
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Notice of Information Collection; request for comments.
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SUMMARY: In accordance with the Paperwork Reduction Act of 1995, the
IRS is inviting comments on the information collection request outlined
in this notice.
DATES: Written comments should be received on or before August 25, 2025
to be assured of consideration.
ADDRESSES: Direct all written comments to Andres Garcia, Internal
Revenue Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC
20224, or by email to <a href="/cdn-cgi/l/email-protection#aadad8cb84c9c5c7c7cfc4ded9eac3d8d984cdc5dc"><span class="__cf_email__" data-cfemail="9aeae8fbb4f9f5f7f7fff4eee9daf3e8e9b4fdf5ec">[email protected]</span></a>. Include ``OMB Control No.
1545-0195'' in the subject line of the message.
FOR FURTHER INFORMATION CONTACT: View the latest drafts of the tax
forms related to the information collection listed in this notice at
<a href="https://www.irs.gov/draft-tax-forms">https://www.irs.gov/draft-tax-forms</a>. Requests for additional
information or copies of this collection should be directed to LaNita
Van Dyke, (202) 317-6009.
SUPPLEMENTARY INFORMATION: The IRS, in accordance with the Paperwork
Reduction Act of 1995 (PRA) (44 U.S.C. 3506(c)(2)(A)), provides the
general public and Federal agencies with an opportunity to comment on
proposed, revised, and continuing collections of information. This
helps the IRS assess the impact and minimize the burden of its
information collection requirements. 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.
Title: Election to Postpone Determination as To Whether the
Presumption Applies That an Activity Is Engaged in for Profit.
OMB Control Number: 1545-0195.
Form Number: 5213.
Abstract: Section 183 of the Internal Revenue Code allows taxpayers
to elect to postpone a determination as to whether an activity is
entered into for profit or is in the nature of a nondeductible hobby.
The election is made on Form 5213 and allows taxpayers 5 years (7 years
for breeding, training, showing, or racing horses) to show a profit
from an activity.
Current Actions: There is no change to the previously approved
information collection.
Type of Review: Extension of a currently approved collection.
Affected Public: Business or other for-profit organizations.
Estimated Number of Respondents: 3,541.
Estimated Time per Respondent: 47 minutes.
Estimated Total Annual Burden Hours: 2,762 hours.
[[Page 27391]]
Dated: June 23, 2025.
LaNita Van Dyke,
Tax Analyst.
[FR Doc. 2025-11774 Filed 6-25-25; 8:45 am]
BILLING CODE 4830-01-P
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