Proposed Collection; Comment Request for Form 8939, 12416-12417 [2011-4998]

Download as PDF srobinson on DSKHWCL6B1PROD with NOTICES 12416 Federal Register / Vol. 76, No. 44 / Monday, March 7, 2011 / Notices had sold the property at fair market value unless the RIC or REIT elects section 1374 treatment or (2) the RIC or REIT will be subject to section 1374 treatment with respect to the net recognized built-in-gain, unless the C corporation elects deemed sale treatment. The regulation provides that a section 1374 election is made by filing a statement, signed by an official authorized to sign the income tax return of the RIC or REIT and attached to the RIC’s or REIT’s Federal income tax return for the taxable year in which the property of the C corporation becomes the property of the RIC or REIT. The regulation provides that a deemed sale election is made by filing a statement, signed by an official authorized to sign the income tax return of the C corporation and attached to the C corporation’s Federal income tax return for the taxable year in which the deemed sale occurs. Current Actions: There are no changes being made to this existing regulation. Type of Review: Extension of currently approved collection. Affected Public: Business or other forprofit organizations. Estimated Number of Respondents: 140. Estimated Time per Respondent: 30 minutes. Estimated Total Annual Burden Hours: 70. 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 VerDate Mar<15>2010 17:54 Mar 04, 2011 Jkt 223001 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: March 1, 2011. Allan Hopkins, Tax Analyst. [FR Doc. 2011–5003 Filed 3–4–11; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Form 8834 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 Form 8834, Qualified Electric Vehicle Credit. DATES: Written comments should be received on or before May 6, 2011 to be assured of consideration. ADDRESSES: Direct all written comments to Allan Hopkins, Internal Revenue Service, room 6129, 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 Ralph Terry at Internal Revenue Service, room 6129, 1111 Constitution Avenue, NW., Washington, DC 20224, or at (202) 622– 8144, or through the Internet at Ralph.M.Terry@irs.gov. SUPPLEMENTARY INFORMATION: Title: Qualified Electric Vehicle Credit. OMB Number: 1545–1374. Form Number: Form 8834. Abstract: Internal Revenue Code section 30 allows a 10% tax credit, not to exceed $4,000, for qualified electric vehicles placed in service after June 30, 1993. Form 8834 is used to compute the allowable credit. The IRS uses the information on the form to determine that the credit is allowable and has been properly computed. SUMMARY: PO 00000 Frm 00102 Fmt 4703 Sfmt 4703 Current Actions: There are no changes being made to the form at this time. Type of Review: Extension of a currently approved collection. Affected Pubic: Individuals or households and businesses or other forprofit organizations. Estimated Number of Respondents: 500. Estimated Time per Respondent: 8 hours, 47 minutes. Estimated Total Annual Burden Hours: 4,395. 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: March 1, 2011. Allan Hopkins, Tax Analyst. [FR Doc. 2011–5001 Filed 3–4–11; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Form 8939 Internal Revenue Service (IRS), Treasury. AGENCY: E:\FR\FM\07MRN1.SGM 07MRN1 Federal Register / Vol. 76, No. 44 / Monday, March 7, 2011 / Notices Notice and request for comments. ACTION: 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 Form 8939, Allocation of Increase in Basis for Property Acquired From a Decedent. DATES: Written comments should be received on or before May 6, 2011 to be assured of consideration. ADDRESSES: Direct all written comments to Allan Hopkins, Internal Revenue Service, Room 6129, 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 Ralph Terry, (202) 622–8144, at Internal Revenue Service, Room 6129, 1111 Constitution Avenue, NW., Washington, DC 20224, or through the Internet at Ralph.M.Terry@irs.gov. SUPPLEMENTARY INFORMATION: Title: Allocation of Increase in Basis for Property Acquired From a Decedent. OMB Number: 1545–2203. Form Number: Form 8939. Abstract: Section 6018 of the Internal Revenue Code requires this return to be filed by an executor the fair market value of all property (other than cash) acquired from the decedent is more than $1.3 million; in the case of a decedent who was a nonresident not a citizen of the United States, the fair market value of tangible property situated in the United States and other property acquired from the decedent by a United States person is greater than $60,000; or appreciated property is acquired from the decedent that the decedent acquired by gift within three years of death and a gift tax return was required to be filed on the transfer to the decedent. Section 6018(e) also requires executors who must file Form 8939 to provide the same information to recipients of the property as the executor must provide to the IRS. 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 or households, business or other for-profit groups, not-for-profit institutions, farms, Federal Government, State, Local, or Tribal Governments. srobinson on DSKHWCL6B1PROD with NOTICES SUMMARY: VerDate Mar<15>2010 17:54 Mar 04, 2011 Jkt 223001 Estimated Number of Respondents: 188,000. Estimated Time per Respondent: 9 hours 11 minutes. Estimated Total Annual Burden Hours: 1,725,090. 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: March 1, 2011. Allan Hopkins, Tax Analyst. [FR Doc. 2011–4998 Filed 3–4–11; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Form 8925 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 SUMMARY: PO 00000 Frm 00103 Fmt 4703 Sfmt 4703 12417 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 Form 8925, Report of Employer-Owned Life Insurance Contracts. DATES: Written comments should be received on or before May 6, 2011 to be assured of consideration. ADDRESSES: Direct all written comments to Allan Hopkins, Internal Revenue Service, room 6129, 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 Ralph Terry, (202) 622–8144, at Internal Revenue Service, room 6129, 1111 Constitution Avenue, NW., Washington, DC 20224, or through the Internet at Ralph.M.Terry@irs.gov. SUPPLEMENTARY INFORMATION: Title: Report of Employer-Owned Life Insurance Contracts. OMB Number: 1545–2089. Form Number: Form 8925. Abstract: Form 8925, Report of Employer-Owned Life Insurance Contracts, is used by a policyholder (who is engaged in a trade or business which employs the person insured and who is a direct or indirect beneficiary) to report certain information concerning the number of employees covered by employer-owned life insurance in force on those employees at the end of the tax year. Current Actions: There is no change in the paperwork burden previously approved by OMB. This form is being submitted for renewal purposes only. Type of Review: Extension of a currently approved collection. Affected Public: Businesses and other for-profit organizations, Farms. Estimated Number of Respondents: 16,000. Estimated Time per Respondent: 4 hours 28 minutes. Estimated Total Annual Burden Hours: 71,360. 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. E:\FR\FM\07MRN1.SGM 07MRN1

Agencies

[Federal Register Volume 76, Number 44 (Monday, March 7, 2011)]
[Notices]
[Pages 12416-12417]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-4998]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Form 8939

AGENCY: Internal Revenue Service (IRS), Treasury.

[[Page 12417]]


ACTION: Notice and request for comments.

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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)). Currently, the IRS is soliciting comments concerning 
Form 8939, Allocation of Increase in Basis for Property Acquired From a 
Decedent.

DATES: Written comments should be received on or before May 6, 2011 to 
be assured of consideration.

ADDRESSES: Direct all written comments to Allan Hopkins, Internal 
Revenue Service, Room 6129, 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 Ralph Terry, 
(202) 622-8144, at Internal Revenue Service, Room 6129, 1111 
Constitution Avenue, NW., Washington, DC 20224, or through the Internet 
at Ralph.M.Terry@irs.gov.

SUPPLEMENTARY INFORMATION: 
    Title: Allocation of Increase in Basis for Property Acquired From a 
Decedent.
    OMB Number: 1545-2203.
    Form Number: Form 8939.
    Abstract: Section 6018 of the Internal Revenue Code requires this 
return to be filed by an executor the fair market value of all property 
(other than cash) acquired from the decedent is more than $1.3 million; 
in the case of a decedent who was a nonresident not a citizen of the 
United States, the fair market value of tangible property situated in 
the United States and other property acquired from the decedent by a 
United States person is greater than $60,000; or appreciated property 
is acquired from the decedent that the decedent acquired by gift within 
three years of death and a gift tax return was required to be filed on 
the transfer to the decedent. Section 6018(e) also requires executors 
who must file Form 8939 to provide the same information to recipients 
of the property as the executor must provide to the IRS.
    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 or households, business or other for-
profit groups, not-for-profit institutions, farms, Federal Government, 
State, Local, or Tribal Governments.
    Estimated Number of Respondents: 188,000.
    Estimated Time per Respondent: 9 hours 11 minutes.
    Estimated Total Annual Burden Hours: 1,725,090.
    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: March 1, 2011.
Allan Hopkins,
Tax Analyst.
[FR Doc. 2011-4998 Filed 3-4-11; 8:45 am]
BILLING CODE 4830-01-P