Proposed Information Collection; Comment Request, 27191-27193 [2016-10587]
Download as PDF
Federal Register / Vol. 81, No. 87 / Thursday, May 5, 2016 / Notices
consistent evaluation of exceptions to
the adopted design standards when
controlling criteria are not met on NHS
highways.
Authority: 23 U.S.C. 109 and 315; 23 CFR
1.32 and 625; 49 CFR 1.85.
Issued on: April 22, 2016.
Gregory G. Nadeau,
Administrator, Federal Highway
Administration.
[FR Doc. 2016–10299 Filed 5–4–16; 8:45 am]
BILLING CODE 4910–22–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Agency Information Collection
Activities; Proposals, Submissions,
and Approvals
Internal Revenue Service (IRS),
Treasury.
ACTION: Notice and request for
comments.
AGENCY:
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,
Public Law 104–13 (44 U.S.C.
3506(c)(2)(A)). Currently, the IRS is
soliciting comments concerning
Employment Tax Adjustments.
DATES: Written comments should be
received on or before July 5, 2016 to be
assured of consideration.
ADDRESSES: Direct all written comments
to Tuawana Pinkston, Internal Revenue
Service, Room 6526, 1111 Constitution
Avenue NW., Washington, DC 20224.
FOR FURTHER INFORMATION CONTACT:
Requests for additional information or
copies of the form and instructions
should be directed to Sara Covington,
Internal Revenue Service, Room 6526,
1111 Constitution Avenue NW.,
Washington DC 20224, or through the
internet, at Sara.L.Covington@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Employment Tax Adjustments;
and Rules Relating to Additional
Medicare Tax.
OMB Number: 1545–2097.
Regulation Project Number: REG–
111583–07 [T.D. 9405 (final)] and REG–
130074–11.
Abstract: This document contains
final regulations relating to employment
tax adjustments and employment tax
refund claims. These regulations modify
the process for making interest-free
mstockstill on DSK3G9T082PROD with NOTICES
SUMMARY:
VerDate Sep<11>2014
18:06 May 04, 2016
Jkt 238001
adjustments for both underpayments
and overpayments of Federal Insurance
Contributions Act (FICA) and Railroad
Retirement Tax Act (RRTA) taxes and
federal income tax withholding (ITW)
under sections 6205(a) and 6413(a),
respectively, of the Internal Revenue
Code (Code).
Current Actions: There is a no in the
paperwork burden previously approved
by OMB. This form is being submitted
for renewal purposes only.
Type of Review: Extension of a
previously approved collection.
Affected Public: Businesses and other
for-profit organizations.
Estimated Number of Respondents:
3,400,000.
Estimated Time per Respondent: 10
hours.
Estimated Total Annual Burden
Hours: 16,900,000.
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: April 28, 2016.
Sara Covington,
IRS Tax Analyst.
[FR Doc. 2016–10570 Filed 5–4–16; 8:45 am]
BILLING CODE 4830–01–P
PO 00000
Frm 00109
Fmt 4703
Sfmt 4703
27191
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Information Collection;
Comment Request
Internal Revenue Service (IRS),
Treasury.
ACTION: Notice and request for
comments.
AGENCY:
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,
Public Law 104–13 (44 U.S.C.
3506(c)(2)(A)).
SUMMARY:
Written comments should be
received on or before July 5, 2016 to be
assured of consideration.
ADDRESSES: Direct all written comments
to Tuawana Pinkston, Internal Revenue
Service, Room 6526, 1111 Constitution
Avenue NW., Washington, DC 20224, or
at Elaine.H.Christophe@irs.gov.
Please send separate comments for
each specific information collection
listed below. You must reference the
information collection’s title, form
number, reporting or record-keeping
requirement number, and OMB number
(if any) in your comment.
FOR FURTHER INFORMATION CONTACT: To
obtain additional information, or copies
of the information collection and
instructions, or copies of any comments
received, contact Elaine Christophe, at
Internal Revenue Service, Room 6513,
1111 Constitution Avenue NW.,
Washington, DC 20224, or through the
internet, at Elaine.H.Christophe@irs.gov.
SUPPLEMENTARY INFORMATION:
Request for Comments
The Department of the Treasury and
the Internal Revenue Service, as part of
their continuing effort to reduce
paperwork and respondent burden,
invite the general public and other
Federal agencies to take this
opportunity to comment on the
proposed or continuing information
collections listed below in this notice,
as required by the Paperwork Reduction
Act of 1995, (44 U.S.C. 3501 et seq.).
REQUEST FOR COMMENTS: Comments
submitted in response to this notice will
be summarized and/or included in our
request for Office of Management and
Budget (OMB) approval of the relevant
information collection. All comments
will become a matter of public record.
Please do not include any confidential
DATES:
E:\FR\FM\05MYN1.SGM
05MYN1
mstockstill on DSK3G9T082PROD with NOTICES
27192
Federal Register / Vol. 81, No. 87 / Thursday, May 5, 2016 / Notices
or inappropriate material in your
comments.
We invite comments on: (a) Whether
the collection of information is
necessary for the proper performance of
the agency’s functions, including
whether the information has 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
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 the requested information.
Currently, the IRS is seeking
comments concerning the following
forms, and reporting and record-keeping
requirements:
1. Title: Form 8871, Political
Organization Notice of Section 527
Status; Form 8453–X, Political
Organization Declaration for Electronic
Filing of Notice of Section 527 Status.
OMB Number: 1545–1693.
Form Number: Forms 8871 and 8453–
X.
Abstract: Public Law 106–230 as
amended by Public Law 107–276,
amended Internal Revenue Code section
527(i) to require certain political
organizations to provide information to
the IRS regarding their name and
address, their purpose, and the names
and addresses of their officers, highly
compensated employees, Board of
Directors, and related entities within the
meaning of section 168(h)(4). Forms
8871 and 8453–X are used to report this
information to the IRS.
Current Actions: There are no changes
being made at this time.
Type of Review: Extension of a
currently approved collection.
Affected Public: Not-for-profit
institutions.
Estimated Number of Respondents:
5,000.
Estimated Time per Respondent: 7
hrs., 2 min.
Estimated Total Annual Reporting
Burden hours: 35,195.
2. Title: Annual Information Return of
Foreign Trust With A U.S. owner.
OMB Number: 1545–0160.
Form Number: 3520–A.
Abstract: Internal Revenue Code
section 6048(b) requires that foreign
trusts with at least on U.S. beneficiary
must file an annual information return.
Form 3520–A is used to report the
income and deductions of the foreign
trust and provide statements to the U.S.
owners and beneficiaries. IRS uses Form
VerDate Sep<11>2014
18:06 May 04, 2016
Jkt 238001
3520–A to determine if the U.S. owner
of the trust has included the net income
of the trust in its gross income.
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 forprofit organizations.
Estimated Number of Respondents:
500.
Estimated Time per Respondent: 43
hrs., 24 min.
Estimated Total Annual Burden
Hours: 21,700.
3. Title: Information Return for
Transfers Associated With Certain
Personal Benefit Contracts.
OMB Number: 1545–1702.
Form Number: 8870.
Abstract: Section 537 of the Ticket to
Work and Work Incentives
Improvement Act of 1999 added section
170(f)(10) to the Internal Revenue Code.
Section 170(f)(10)(F) requires an
organization to report annually: (1) Any
premiums paid after February 8, 1999,
to which section 170(f)(10) applies; (2)
the name and taxpayer identification
number (TIN) of each beneficiary under
each contact to which the premiums
related; and (3) any other information
the Secretary of the Treasury may
require. A charitable organization
described in section 170(c) or a
charitable remainder trust described in
section 664(d) that paid premiums after
February 9, 1999, or certain life
insurance, annuity, and endowment
contracts (personal benefit contracts)
must complete and file Form 8870.
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: Business or other forprofit institutions.
Estimated Number of Respondents:
5,000.
Estimated Time per Respondent: 14
hours, 50 minutes.
Estimated Total Annual Burden
Hours: 74,200.
4. Title: Generation-Skipping Transfer
Tax Return for Distributions.
OMB Number: 1545–1144.
Form Number: 706–GS(D).
Abstract: Form 706–GS(D) is used by
persons who receive taxable
distributions from a trust to compute
and report the generation-skipping
transfer tax imposed by Internal
Revenue Code section 2601. IRS uses
the information to verify that the tax has
been properly computed.
Current Actions: There are no changes
being made to the form at this time.
Type of Review: Extension of a
currently approved collection.
PO 00000
Frm 00110
Fmt 4703
Sfmt 4703
Affected Public: Individuals or
households.
Estimated Number of Respondents:
1,000.
Estimated Time per Respondent: 59
minutes.
Estimated Total Annual Burden
Hours: 980.
5. Title: Rewards for Information
Relating to Violations of Internal
Revenue Laws.
OMB Number: 1545–1534.
Regulations: REG–252936–96 (TD
8780—final).
Abstract: The regulations explain the
procedure for submitting information
that relates to violations of the internal
revenue laws. The regulations also
require a person claiming a reward for
information to provide, in certain
circumstances, identification of
evidence that the person is the proper
claimant.
Current Actions: There are no changes
being made to the revenue procedure at
this time.
Type of Review: Extension of a
currently approved collection.
Affected Public: Individuals or
households, businesses or other forprofit organizations, and not-for-profit
institutions.
Estimated Number of Respondents:
10,000.
Estimated Time per Respondent: 3
hrs.
Estimated Total Annual Reporting
Burden Hours: 30,000.
6. Title: Information Return for
Transfers Associated With Certain
Personal Benefit Contracts.
OMB Number: 1545–1702.
Form Number: 8870.
Abstract: Section 537 of the Ticket to
Work and Work Incentives
Improvement Act of 1999 added section
170(f)(10) to the Internal Revenue Code.
Section 170(f)(10)(F) requires an
organization to report annually: (1) Any
premiums paid after February 8, 1999,
to which section 170(f)(10) applies; (2)
the name and taxpayer identification
number (TIN) of each beneficiary under
each contact to which the premiums
related; and (3) any other information
the Secretary of the Treasury may
require. A charitable organization
described in section 170(c) or a
charitable remainder trust described in
section 664(d) that paid premiums after
February 9, 1999, or certain life
insurance, annuity, and endowment
contracts (personal benefit contracts)
must complete and file Form 8870.
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: Business or other forprofit institutions.
E:\FR\FM\05MYN1.SGM
05MYN1
mstockstill on DSK3G9T082PROD with NOTICES
Federal Register / Vol. 81, No. 87 / Thursday, May 5, 2016 / Notices
Estimated Number of Respondents:
5,000.
Estimated Time per Respondent: 14
hours, 50 minutes.
Estimated Total Annual Burden
Hours: 74,200.
7. Title: Extended Carryback of Losses
to or From a Consolidated Group.
OMB Number: 1545–2171.
Regulations: TD 9490.
Abstract: This document contains
final and temporary regulations under
section 1502 that affect corporations
filing consolidated returns. The
regulations contain rules regarding the
implementation of section 172(b)(1)(H)
within a consolidated group. These
regulations also permit certain acquiring
consolidated groups to elect to waive all
or a portion of the pre-acquisition
carryback period pursuant to section
172(b)(1)(H) for specific losses
attributable to certain acquired
members.
Current Actions: There is no change to
this existing regulation.
Type of Review: Extension of a
currently approved collection.
Affected Public: Business or other forprofit organizations.
Estimated Number of Respondents:
4,000
Estimated Time per Respondent: 0.25
hours
Estimated Total Annual Burden
Hours: 1,000
8. Title: Form 990–PF, Return of
Private Foundation or Section 4947(a)(1)
Nonexempt charitable Trust Treated as
a Private Foundation, and Form 4720,
return of Certain Excise Taxes on
Charities and Other Persons Under
Chapters 41 and 42 of the Internal
revenue Code.
OMB Number: 1545–0052.
Form Number: 990–PF and 4720.
Abstract: Internal Revenue Code
section 6033 requires all private
foundations, including section
4947(a)(1) trusts treated as private
foundations, to file an annual
information return. Section 53.4940–
1(a) of the Income Tax Regulations
requires that the tax on net investment
income be reported on the return filed
under section 6033. Form 990–PF is
used for this purpose. Section 6011
requires a report of taxes under Chapter
42 of the Code for prohibited acts by
private foundations and certain related
parties. Form 4720 is used by
foundations and/or related persons to
report prohibited activities in detail and
pay the tax on them.
Current Actions: There are no changes
being made to the revenue procedure at
this time.
Type of Review: Extension of a
currently approved collection.
VerDate Sep<11>2014
18:06 May 04, 2016
Jkt 238001
Affected Public: Not-for-profit
institutions.
Estimated Number of Respondents:
55,000.
Estimated Time per Respondent: 200
hrs., 58 min.
Estimated Total Annual Reporting
Burden Hours: 11,052,594.
9. Title: Treatment of Shareholders of
Certain Passive Foreign Investment
Companies.
OMB Number: 1545–1507.
Regulation Project Number: INTL–
656–87 (TD 8701).
Abstract: The reporting requirements
affect United States persons that are
direct and indirect shareholders of
passive foreign investment companies
(PFICSs). The requirements enable the
Internal Revenue Service to identify
PFICs, United States shareholders, and
transactions subject to PFIC taxation
and verify income inclusions, excess
distributions, and deferred tax amounts.
Current Actions: There is no change to
this existing regulation.
Type of Review: Extension of a
currently approved collection.
Affected Public: Individuals, business
or other for-profit organizations, and
not-for-profit institutions.
Estimated Number of Respondents:
131,250.
Estimated Time per Respondent: 46
minutes.
Estimated Total Annual Burden
Hours: 100,000.
10. Title: Credit for New Qualified
Alternative Motor Vehicles (Qualified
Fuel Cell Motor Vehicles).
OMB Number: 1545–2028.
Form Number: Notice 2008–33.
Abstract: This Notice will be used to
determine whether the vehicle for
which the credit is claimed under § 30B
by a taxpayer is property that qualifies
for the credit. The collection of
information is required to obtain a
benefit. The likely respondents are
corporations and partnerships.
Current Actions: There is no change
in the paperwork burden previously
approved by OMB.
Type of Review: Extension of a
currently approved collection.
Affected Public: Individuals and
Households, Businesses and other forprofit organizations.
Estimated Number of Respondents: 5.
Estimated Time per Respondent: 40
hours.
Estimated Total Annual Burden
Hours: 200.
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
PO 00000
Frm 00111
Fmt 4703
Sfmt 4703
27193
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.
Approved: April 28, 2016.
Tuawana Pinkston,
Supervisory Tax Analyst.
[FR Doc. 2016–10587 Filed 5–4–16; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment
Request for Regulation Project
Internal Revenue Service (IRS),
Treasury.
ACTION: Notice and request for
comments.
AGENCY:
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,
Public Law 104–13 (44 U.S.C.
3506(c)(2)(A)). Currently, the IRS is
soliciting comments concerning general
rules for making and maintaining
qualified electing fund elections.
DATES: Written comments should be
received on or before July 5, 2016 to be
assured of consideration.
ADDRESSES: Direct all written comments
to Tuawana Pinkston, Internal Revenue
Service, Room 6526, 1111 Constitution
Avenue NW., Washington, DC 20224.
FOR FURTHER INFORMATION CONTACT:
Requests for additional information or
copies of the regulation should be
directed to Sara Covington, at Internal
Revenue Service, Room 6526, 1111
Constitution Avenue NW., Washington,
DC 20224, or through the internet at
Sara.L.Covington@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: General Rules for Making and
Maintaining Qualified Electing Fund
Elections.
OMB Number: 1545–1555.
Regulation Project Number: REG–
115795–97.
Abstract: This regulation provides
guidance to a passive foreign investment
company (PFIC) shareholder that makes
the election under Code section 1295 to
SUMMARY:
E:\FR\FM\05MYN1.SGM
05MYN1
Agencies
[Federal Register Volume 81, Number 87 (Thursday, May 5, 2016)]
[Notices]
[Pages 27191-27193]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-10587]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Information Collection; Comment Request
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, Public Law 104-13 (44 U.S.C.
3506(c)(2)(A)).
DATES: Written comments should be received on or before July 5, 2016 to
be assured of consideration.
ADDRESSES: Direct all written comments to Tuawana Pinkston, Internal
Revenue Service, Room 6526, 1111 Constitution Avenue NW., Washington,
DC 20224, or at Elaine.H.Christophe@irs.gov.
Please send separate comments for each specific information
collection listed below. You must reference the information
collection's title, form number, reporting or record-keeping
requirement number, and OMB number (if any) in your comment.
FOR FURTHER INFORMATION CONTACT: To obtain additional information, or
copies of the information collection and instructions, or copies of any
comments received, contact Elaine Christophe, at Internal Revenue
Service, Room 6513, 1111 Constitution Avenue NW., Washington, DC 20224,
or through the internet, at Elaine.H.Christophe@irs.gov.
SUPPLEMENTARY INFORMATION:
Request for Comments
The Department of the Treasury and the Internal Revenue Service, as
part of their continuing effort to reduce paperwork and respondent
burden, invite the general public and other Federal agencies to take
this opportunity to comment on the proposed or continuing information
collections listed below in this notice, as required by the Paperwork
Reduction Act of 1995, (44 U.S.C. 3501 et seq.).
REQUEST FOR COMMENTS: Comments submitted in response to this notice
will be summarized and/or included in our request for Office of
Management and Budget (OMB) approval of the relevant information
collection. All comments will become a matter of public record. Please
do not include any confidential
[[Page 27192]]
or inappropriate material in your comments.
We invite comments on: (a) Whether the collection of information is
necessary for the proper performance of the agency's functions,
including whether the information has 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 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 the
requested information.
Currently, the IRS is seeking comments concerning the following
forms, and reporting and record-keeping requirements:
1. Title: Form 8871, Political Organization Notice of Section 527
Status; Form 8453-X, Political Organization Declaration for Electronic
Filing of Notice of Section 527 Status.
OMB Number: 1545-1693.
Form Number: Forms 8871 and 8453-X.
Abstract: Public Law 106-230 as amended by Public Law 107-276,
amended Internal Revenue Code section 527(i) to require certain
political organizations to provide information to the IRS regarding
their name and address, their purpose, and the names and addresses of
their officers, highly compensated employees, Board of Directors, and
related entities within the meaning of section 168(h)(4). Forms 8871
and 8453-X are used to report this information to the IRS.
Current Actions: There are no changes being made at this time.
Type of Review: Extension of a currently approved collection.
Affected Public: Not-for-profit institutions.
Estimated Number of Respondents: 5,000.
Estimated Time per Respondent: 7 hrs., 2 min.
Estimated Total Annual Reporting Burden hours: 35,195.
2. Title: Annual Information Return of Foreign Trust With A U.S.
owner.
OMB Number: 1545-0160.
Form Number: 3520-A.
Abstract: Internal Revenue Code section 6048(b) requires that
foreign trusts with at least on U.S. beneficiary must file an annual
information return. Form 3520-A is used to report the income and
deductions of the foreign trust and provide statements to the U.S.
owners and beneficiaries. IRS uses Form 3520-A to determine if the U.S.
owner of the trust has included the net income of the trust in its
gross income.
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: 500.
Estimated Time per Respondent: 43 hrs., 24 min.
Estimated Total Annual Burden Hours: 21,700.
3. Title: Information Return for Transfers Associated With Certain
Personal Benefit Contracts.
OMB Number: 1545-1702.
Form Number: 8870.
Abstract: Section 537 of the Ticket to Work and Work Incentives
Improvement Act of 1999 added section 170(f)(10) to the Internal
Revenue Code. Section 170(f)(10)(F) requires an organization to report
annually: (1) Any premiums paid after February 8, 1999, to which
section 170(f)(10) applies; (2) the name and taxpayer identification
number (TIN) of each beneficiary under each contact to which the
premiums related; and (3) any other information the Secretary of the
Treasury may require. A charitable organization described in section
170(c) or a charitable remainder trust described in section 664(d) that
paid premiums after February 9, 1999, or certain life insurance,
annuity, and endowment contracts (personal benefit contracts) must
complete and file Form 8870.
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: Business or other for-profit institutions.
Estimated Number of Respondents: 5,000.
Estimated Time per Respondent: 14 hours, 50 minutes.
Estimated Total Annual Burden Hours: 74,200.
4. Title: Generation-Skipping Transfer Tax Return for
Distributions.
OMB Number: 1545-1144.
Form Number: 706-GS(D).
Abstract: Form 706-GS(D) is used by persons who receive taxable
distributions from a trust to compute and report the generation-
skipping transfer tax imposed by Internal Revenue Code section 2601.
IRS uses the information to verify that the tax has been properly
computed.
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.
Estimated Number of Respondents: 1,000.
Estimated Time per Respondent: 59 minutes.
Estimated Total Annual Burden Hours: 980.
5. Title: Rewards for Information Relating to Violations of
Internal Revenue Laws.
OMB Number: 1545-1534.
Regulations: REG-252936-96 (TD 8780--final).
Abstract: The regulations explain the procedure for submitting
information that relates to violations of the internal revenue laws.
The regulations also require a person claiming a reward for information
to provide, in certain circumstances, identification of evidence that
the person is the proper claimant.
Current Actions: There are no changes being made to the revenue
procedure at this time.
Type of Review: Extension of a currently approved collection.
Affected Public: Individuals or households, businesses or other
for-profit organizations, and not-for-profit institutions.
Estimated Number of Respondents: 10,000.
Estimated Time per Respondent: 3 hrs.
Estimated Total Annual Reporting Burden Hours: 30,000.
6. Title: Information Return for Transfers Associated With Certain
Personal Benefit Contracts.
OMB Number: 1545-1702.
Form Number: 8870.
Abstract: Section 537 of the Ticket to Work and Work Incentives
Improvement Act of 1999 added section 170(f)(10) to the Internal
Revenue Code. Section 170(f)(10)(F) requires an organization to report
annually: (1) Any premiums paid after February 8, 1999, to which
section 170(f)(10) applies; (2) the name and taxpayer identification
number (TIN) of each beneficiary under each contact to which the
premiums related; and (3) any other information the Secretary of the
Treasury may require. A charitable organization described in section
170(c) or a charitable remainder trust described in section 664(d) that
paid premiums after February 9, 1999, or certain life insurance,
annuity, and endowment contracts (personal benefit contracts) must
complete and file Form 8870.
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: Business or other for-profit institutions.
[[Page 27193]]
Estimated Number of Respondents: 5,000.
Estimated Time per Respondent: 14 hours, 50 minutes.
Estimated Total Annual Burden Hours: 74,200.
7. Title: Extended Carryback of Losses to or From a Consolidated
Group.
OMB Number: 1545-2171.
Regulations: TD 9490.
Abstract: This document contains final and temporary regulations
under section 1502 that affect corporations filing consolidated
returns. The regulations contain rules regarding the implementation of
section 172(b)(1)(H) within a consolidated group. These regulations
also permit certain acquiring consolidated groups to elect to waive all
or a portion of the pre-acquisition carryback period pursuant to
section 172(b)(1)(H) for specific losses attributable to certain
acquired members.
Current Actions: There is no change to this existing regulation.
Type of Review: Extension of a currently approved collection.
Affected Public: Business or other for-profit organizations.
Estimated Number of Respondents: 4,000
Estimated Time per Respondent: 0.25 hours
Estimated Total Annual Burden Hours: 1,000
8. Title: Form 990-PF, Return of Private Foundation or Section
4947(a)(1) Nonexempt charitable Trust Treated as a Private Foundation,
and Form 4720, return of Certain Excise Taxes on Charities and Other
Persons Under Chapters 41 and 42 of the Internal revenue Code.
OMB Number: 1545-0052.
Form Number: 990-PF and 4720.
Abstract: Internal Revenue Code section 6033 requires all private
foundations, including section 4947(a)(1) trusts treated as private
foundations, to file an annual information return. Section 53.4940-1(a)
of the Income Tax Regulations requires that the tax on net investment
income be reported on the return filed under section 6033. Form 990-PF
is used for this purpose. Section 6011 requires a report of taxes under
Chapter 42 of the Code for prohibited acts by private foundations and
certain related parties. Form 4720 is used by foundations and/or
related persons to report prohibited activities in detail and pay the
tax on them.
Current Actions: There are no changes being made to the revenue
procedure at this time.
Type of Review: Extension of a currently approved collection.
Affected Public: Not-for-profit institutions.
Estimated Number of Respondents: 55,000.
Estimated Time per Respondent: 200 hrs., 58 min.
Estimated Total Annual Reporting Burden Hours: 11,052,594.
9. Title: Treatment of Shareholders of Certain Passive Foreign
Investment Companies.
OMB Number: 1545-1507.
Regulation Project Number: INTL-656-87 (TD 8701).
Abstract: The reporting requirements affect United States persons
that are direct and indirect shareholders of passive foreign investment
companies (PFICSs). The requirements enable the Internal Revenue
Service to identify PFICs, United States shareholders, and transactions
subject to PFIC taxation and verify income inclusions, excess
distributions, and deferred tax amounts.
Current Actions: There is no change to this existing regulation.
Type of Review: Extension of a currently approved collection.
Affected Public: Individuals, business or other for-profit
organizations, and not-for-profit institutions.
Estimated Number of Respondents: 131,250.
Estimated Time per Respondent: 46 minutes.
Estimated Total Annual Burden Hours: 100,000.
10. Title: Credit for New Qualified Alternative Motor Vehicles
(Qualified Fuel Cell Motor Vehicles).
OMB Number: 1545-2028.
Form Number: Notice 2008-33.
Abstract: This Notice will be used to determine whether the vehicle
for which the credit is claimed under Sec. 30B by a taxpayer is
property that qualifies for the credit. The collection of information
is required to obtain a benefit. The likely respondents are
corporations and partnerships.
Current Actions: There is no change in the paperwork burden
previously approved by OMB.
Type of Review: Extension of a currently approved collection.
Affected Public: Individuals and Households, Businesses and other
for-profit organizations.
Estimated Number of Respondents: 5.
Estimated Time per Respondent: 40 hours.
Estimated Total Annual Burden Hours: 200.
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.
Approved: April 28, 2016.
Tuawana Pinkston,
Supervisory Tax Analyst.
[FR Doc. 2016-10587 Filed 5-4-16; 8:45 am]
BILLING CODE 4830-01-P