Submission for OMB Review; Comment Request, 66355-66361 [2011-27671]
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Federal Register / Vol. 76, No. 207 / Wednesday, October 26, 2011 / Notices
The exemption will be effective
on November 25, 2011; petitions to
reopen must be filed by November 15,
2011.
ADDRESSES: An original and 10 copies of
all pleadings, referring to Docket No. FD
35544, must be filed with the Surface
Transportation Board, 395 E Street, SW.,
Washington, DC 20423–0001. In
addition, one copy of all pleadings must
be served on petitioner’s representative:
Linda J. Morgan, Nossaman LLP, 1666 K
Street, NW., Suite 500, Washington, DC
20006.
Copies of filings will be available for
viewing at the Board’s Web site.
FOR FURTHER INFORMATION CONTACT:
Joseph H. Dettmar at 202–245–0395.
Assistance for the hearing impaired is
available through the Federal
Information Relay Service (FIRS) at 1–
800–877–8339.
SUPPLEMENTARY INFORMATION:
Additional information is contained in
the Board’s decision, which is available
on our Web site at: ‘‘https://
www.stb.dot.gov’’.
DATES:
Decided: October 20, 2011.
By the Board, Chairman Elliott, Vice
Chairman Begeman, and Commissioner
Mulvey.
Jeffrey Herzig,
Clearance Clerk.
[FR Doc. 2011–27679 Filed 10–25–11; 8:45 am]
BILLING CODE 4915–01–P
DEPARTMENT OF THE TREASURY
Submission for OMB Review;
Comment Request
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October 20, 2011.
The Department of the Treasury will
submit the following public information
collection requirements to OMB for
review and clearance under the
Paperwork Reduction Act of 1995,
Public Law 104–13 on or after the date
of publication of this notice. A copy of
the submissions may be obtained by
calling the Treasury Bureau Clearance
Officer listed. Comments regarding
these information collections should be
addressed to the OMB reviewer listed
and to the Treasury PRA Clearance
Officer, Department of the Treasury,
1750 Pennsylvania Avenue, NW., Suite
11010, Washington, DC 20220.
DATES: Written comments should be
received on or before November 25,
2011 to be assured consideration.
Internal Revenue Service (IRS)
OMB Number: 1545–0001.
Type of Review: Revision of a
currently approved collection.
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Title: Employer’s Annual Railroad
Retirement Tax Return.
Forms: CT–1, CT–1X.
Abstract: Railroad employers are
required to file an annual return to
report employer and employee Railroad
Retirement Tax Act (RRTA). Form
CT–1 is used for this purpose. IRS uses
the information to insure that the
employer has paid the correct tax.
Respondents: Private Sector:
Businesses or other for-profits.
Estimated Total Burden Hours:
39,455.
OMB Number: 1545–0003.
Type of Review: Extension without
change of a currently approved
collection.
Title: Application for Employer
Identification Number; Solicitud de
Numero de Identificacion Patronal
(EIN).
Forms: SS–4, SS–4–PR.
Abstract: Taxpayers are required to
have an identification number for use
on any return, statement, or other
document must prepare and file Form
SS–4 or Form SS–4PR (Puerto Rico
only) to obtain a number. The
information is used by the IRS and the
SSA in tax administration and by the
Bureau of the Census for business
statistics.
Respondents: Private Sector:
Businesses or other for-profits.
Estimated Total Burden Hours:
15,941,913.
OMB Number: 1545–0024.
Type of Review: Revision of a
currently approved collection.
Title: Claim for Refund and Request
for Abatement.
Form: 843.
Abstract: IRC section 6402, 6404, and
sections 301.6404–2, and 301.6404–3 of
the regulations, allow for refunds of
taxes (except income taxes) or refund,
abatement, or credit of interest,
penalties, and additions to tax in the
event of errors or certain action by the
IRS. Form 843 is used by taxpayers to
claim these refunds, credits, or
abatements.
Respondents: Individuals and
Households.
Estimated Total Burden Hours:
875,295.
OMB Number: 1545–0049.
Type of Review: Extension without
change of a currently approved
collection.
Title: Form 990–BL, Information and
Initial Excise Tax Return for Black Lung
Benefit Trusts and Certain Related
Persons; Form 6069, Return of Excise
Tax on Excess Contributions to BL
Trust.
Forms: 990–BL, 6069.
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Abstract: IRS uses Form 990–BL to
monitor activities of black lung benefit
trusts, and to collect excise taxes on
these trusts and certain related persons
if they engage in proscribed activities.
The tax is figured on Schedule A and
attached to Form 990–BL. Form 6069 is
used by coal mine operators to figure
the maximum deduction to a black lung
benefit trust. If excess contributions are
made, IRS uses the form to figure and
collect the tax on excess contributions.
Respondents: Private Sector:
Businesses or other for-profits.
Estimated Total Burden Hours: 563.
OMB Number: 1545–0058.
Type of Review: Extension without
change of a currently approved
collection.
Title: Application for Recognition of
Exemption Under Section 521 of the
Internal Revenue Code.
Form: 1028.
Abstract: Farmers’ cooperatives must
file Form 1028 to apply for exemption
from Federal income tax as being
organizations described in IRC section
521. The information on Form 1028
provides the basis for determining
whether the applicants are exempt.
Respondents: Private Sector:
Businesses or other for-profits, Farms.
Estimated Total Burden Hours: 2,545.
OMB Number: 1545–0152.
Type of Review: Extension without
change of a currently approved
collection.
Title: Application for Change in
Accounting Method.
Form: 3115.
Abstract: Form 3115 is used by
taxpayers who wish to change their
method of computing their taxable
income. The form is used by the IRS to
determine if electing taxpayers have met
the requirements and are able to change
to the method requested.
Respondents: Private Sector:
Businesses or other for-profits.
Estimated Total Burden Hours:
929,066.
OMB Number: 1545–0216.
Type of Review: Extension without
change of a currently approved
collection.
Title: International Boycott Report.
Form: 5713 and Schedules A, B, and
C to Form 5713.
Abstract: Form 5713 and related
Schedules A, B, and C are used by any
entity that has operations in a
‘‘boycotting’’ country. If that entity
cooperates with or participates in an
international boycott it loses a portion
of the foreign tax credit, or deferral of
FSC and IC–DISC benefits. The IRS uses
Form 5713 to determine if any of the
above benefits should be lost. The
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information is also used as the basis for
a report to the Congress.
Respondents: Private Sector:
Businesses or other for-profits.
Estimated Total Burden Hours:
69,495.
OMB Number: 1545–0284.
Type of Review: Extension without
change of a currently approved
collection.
Title: Application for Determination
of Employee Stock Ownership Plan.
Form: 5309.
Abstract: Form 5309 is used in
conjunction with Form 5300 or Form
5303 when applying for a determination
letter as to a deferred compensation
plan’s qualification status under section
409 or 4975(e)(7) of the Internal
Revenue Code. The information is used
to determine whether the plan qualifies.
Respondents: Private Sector:
Businesses or other for-profits.
Estimated Total Burden Hours:
26,975.
OMB Number: 1545–0723.
Type of Review: Extension without
change of a currently approved
collection.
Title: T.D. 8043—Manufacturers
Excise Taxes and Sporting Goods and
Firearms and Other Administrative
Provisions of Special Application to
Manufacturers and Retailers Excise
Taxes.
Abstract: This document contains
final regulations which revise and
update the regulations on manufacturers
excise taxes on sporting goods and
firearms and other administrative
provisions especially applicable to
manufacturers and retailers excise taxes.
These amendments revise and update
Part 48 to achieve greater clarity and
conform the regulations to numerous
amendments to the Internal Revenue
Code of 1954 made after 1964. These
regulations provide necessary guidance
to the public for compliance with the
law.
Respondents: Private Sector:
Businesses or other for-profits.
Estimated Total Burden Hours:
475,000.
OMB Number: 1545–0795.
Type of Review: Extension without
change of a currently approved
collection.
Title: Exemption From Withholding
on Compensation for Independent (and
Certain Dependent) Personal Services of
a Nonresident Alien Individual.
Form: 8233.
Abstract: Compensation paid to a
nonresident alien (NRA) individual for
independent personal services (selfemployment) is generally subject to
30% withholding or graduated rates.
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However, compensation may be exempt
from withholding because of a U.S. tax
treaty or personal exemption amount.
Form 8233 is used to request exemption
from withholding.
Respondents: Individuals and
Households.
Estimated Total Burden Hours:
1,320,000.
OMB Number: 1545–0879.
Type of Review: Extension without
change of a currently approved
collection.
Title: IA–195–78 (Final) Certain
Returned Magazines, Paperbacks or
Records.
Abstract: The regulations provide
rules relating to an exclusion from gross
income for certain returned
merchandise. The regulations provide
that in addition to physical return of the
merchandise, a written statement listing
certain information may constitute
evidence of the return. Taxpayers who
receive physical evidence of the return
may, in lieu of retaining physical
evidence, retain documentary evidence
of the return. Taxpayers in the trade or
business of selling magazines,
paperbacks, or records, who elect to use
a certain method of accounting, are
affected.
Respondents: Private Sector:
Businesses or other for-profits.
Estimated Total Burden Hours: 8,125.
OMB Number: 1545–0922.
Type of Review: Extension without
change of a currently approved
collection.
Title: Form 8329, Lender’s
Information Return for Mortgage Credit
Certificates (MCCs); Form 8330, Issuer’s
Quarterly Information Return for
Mortgage Credit Certificates (MCCs).
Forms: 8329, 8330.
Abstract: Form 8329 is used by
lending institutions and Form 8330 is
used by state and local governments to
report on mortgage credit certificates
(MCCs) authorized under IRC Section
25. IRS matches the information
supplied by lenders and issuers to
ensure that the credit is computed
properly.
Respondents: Private Sector:
Businesses or other for-profits.
Estimated Total Burden Hours:
73,720.
OMB Number: 1545–1100.
Type of Review: Extension without
change of a currently approved
collection.
Title: REG–209106–89 (NPRM)
Changes With Respect to Prizes and
Awards and Employee Achievement
Awards.
Abstract: This regulation requires
recipients of prizes and awards to
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maintain records to determine whether
a qualifying designation has been made.
The affected public are prize and award
recipients who seek to exclude the cost
of a qualifying prize or award.
Respondents: Individuals and
Households.
Estimated Total Burden Hours: 1,275.
OMB Number: 1545–1139.
Type of Review: Extension without
change of a currently approved
collection.
Title: PS–264–82 (Final) Adjustments
to Basis of Stock and Indebtedness to
Shareholders of S Corporations and
Treatment of Distributions by S
Corporations to Shareholders; REG–
144859–04—Section 1367 Regard.
Abstract: The regulations provide the
procedures and the statements to be
filed by S corporations for making the
election provided under section 1368,
and by shareholders who choose to
reorder items that decrease their basis.
Statements required to be filled will be
used to verify that taxpayers are
complying with the requirements
imposed by Congress.
Respondents: Private Sector:
Businesses or other for-profits.
Estimated Total Burden Hours: 450.
OMB Number: 1545–1269.
Type of Review: Extension without
change of a currently approved
collection.
Title: T.D. 8461—Nuclear
Decommissioning Fund Qualification
Requirements.
Abstract: This document contains
final regulations relating to the
qualification requirements of a nuclear
decommissioning fund. Pursuant to
former section 468A(e)(4)(C) of the
Internal Revenue Code, current
regulations require that nuclear
decommissioning funds invest directly
in permissible assets and permitted two
or more such funds to combine assets
for investment purposes. The
Comprehensive National Energy Policy
Act of 1992 repealed the investment
restriction contained in section
468A(e)(4)(C). These final regulations
amend the existing regulations to reflect
the statutory change.
Respondents: Private Sector:
Businesses or other for-profits.
Estimated Total Burden Hours: 150.
OMB Number: 1545–1375.
Type of Review: Extension without
change of a currently approved
collection.
Title: T.D. 8537—Carryover of Passive
Activity Losses and Credits and At Risk
Losses to Bankruptcy Estates of
Individuals.
Abstract: This document contains
final regulations relating to the
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application of carryover of passive
activity losses and credits and at risk
losses to the bankruptcy estates of
individuals. The final regulations affect
individual taxpayers who file
bankruptcy petitions under chapter 7 or
chapter 11 of title 11 of the United
States Code and have passive activity
losses and credits under section 469 or
losses under section 465.
Respondents: Individuals and
Households.
Estimated Total Burden Hours: 100.
OMB Number: 1545–1381.
Type of Review: Extension without
change of a currently approved
collection.
Title: T.D. 8546—Limitations on
Corporate Net Operating Loss.
Abstract: This document contains
final income tax regulations providing
rules for allocating net operating loss or
taxable income, and net capital loss or
gain, within the taxable year in which
a loss corporation has an ownership
change under section 382 of the Internal
Revenue Code of 1986. These
regulations permit the loss corporation
to elect to allocate these amounts
between the period ending on the
change date and the period beginning
on the day after the change date as if its
books were closed on the change date.
Respondents: Private Sector:
Businesses or other for-profits.
Estimated Total Burden Hours: 200.
OMB Number: 1545–1393.
Type of Review: Extension without
change of a currently approved
collection.
Title: EE–14–81 (NPRM) Deductions
and Reductions in Earnings and Profits
(or Accumulated Profits) With Respect
to Certain Foreign Deferred
Compensation Plans Maintained by
Certain Foreign Corporations or by
Foreign Branches of Domestic
Corporations.
Abstract: The regulation provides
guidance regarding the limitations on
deductions and adjustments to earnings
and profits (or accumulated profits) for
certain foreign deferred compensation
plans. Respondents will be
multinational corporations.
Respondents: Private Sector:
Businesses or other for-profits.
Estimated Total Burden Hours: 200.
OMB Number: 1545–1407.
Type of Review: Extension without
change of a currently approved
collection.
Title: Consent To Extend the Time to
Assess the Branch Profits Tax Under
Regulations Sections 1.884–2(a) and (c).
Form: 8848.
Abstract: Form 8848 is used by
foreign corporations that have (a)
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completely terminated all of their U.S.
trade or business within the meaning of
Temporary Regulations section 1.884–
2T(a) during the tax year or (b)
transferred their U.S. assets to a
domestic corporation in a transaction
described in Code section 381(a), if the
foreign corporation was engaged in a
U.S. trade or business at that time.
Respondents: Private Sector:
Businesses or other for-profits.
Estimated Total Burden Hours:
22,500.
OMB Number: 1545–1409.
Type of Review: Extension without
change of a currently approved
collection.
Title: Election to Use Different
Annualization Periods for Corporate
Estimated Tax.
Form: 8842.
Abstract: Form 8842 is used by
corporations (including S corporations),
tax-exempt organizations subject to the
unrelated business income tax, and
private foundations to annually elect the
use of an annualization period in
section 6655(e)(2)(c)(i) or (ii) for
purpose of figuring the corporation’s
estimated tax payments under the
annualized income installment method.
Respondents: Private Sector:
Businesses or other for-profits.
Estimated Total Burden Hours: 4,335.
OMB Number: 1545–1435.
Type of Review: Extension without
change of a currently approved
collection.
Title: TD 8706—Electronic Filing of
Form W–4.
Abstract: This document contains
final regulations relating to Form W–4,
Employee’s Withholding Allowance
Certificate. The final regulations
authorize employers to establish
electronic systems for use by employees
in filing their Forms W–4. The
regulations provide employers and
employees with guidance necessary to
comply with the law. The regulations
affect employers that establish
electronic systems and their employees.
Respondents: Private Sector:
Businesses or other for-profits.
Estimated Total Burden Hours:
40,000.
OMB Number: 1545–1485.
Type of Review: Extension without
change of a currently approved
collection.
Title T.D. 8743—Sale of Residence
From Qualified Personal Residence
Trust.
Abstract: This document contains
final regulations permitting the
reformation of a personal residence trust
or a qualified personal residence trust in
order to comply with the applicable
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requirements for such trusts. The final
regulations also provide that the
governing instruments of such trusts
must prohibit the sale of a residence
held in the trust to the grantor of the
trust, the grantor’s spouse, or an entity
controlled by the grantor or the grantor’s
spouse.
Respondents: Individuals and
Households.
Estimated Total Burden Hours: 625.
OMB Number: 1545–1486.
Type of Review: Extension without
change of a currently approved
collection.
Title T.D. 8697—Simplification of
Entity Classification Rules.
Abstract: This regulation provides
rules to allow certain unincorporated
business organizations to elect to be
treated as corporations or partnerships
for federal tax purposes. The election is
made by filing Form 8832, Entity
Classification Election. The information
collected on the election will be used to
verify the classification of electing
organizations.
Respondents: Private Sector:
Businesses or other for-profits.
Estimated Total Burden Hours: 1.
OMB Number: 1545–1491.
Type of Review: Extension without
change of a currently approved
collection.
Title T.D. 8746—Amortizable Bond
Premium.
Abstract: This document contains
final regulations relating to the federal
income tax treatment of bond premium
and bond issuance premium. The
regulations reflect changes to the law
made by the Tax Reform Act of 1986
and the Technical and Miscellaneous
Revenue Act of 1988. The regulations
will provide needed guidance to holders
and issuers of debt instruments.
Respondents: Private Sector:
Businesses or other for-profits.
Estimated Total Burden Hours: 7,500.
OMB Number: 1545–1493.
Type of Review: Extension without
change of a currently approved
collection.
Title T.D. 8684—Treatment of Gain
From the Disposition of Interest in
Certain Natural Resource Recapture
Property by S Corporations and Their
Shareholders.
Abstract: This document contains
final regulations relating to the tax
treatment by S Corporations and their
shareholders of gain from the
disposition by an S corporation (and a
corporation that was formerly an S
corporation) of certain natural resource
recapture property (section 1254
property after enactment of the Tax
Reform Act of 1986 and oil, gas, or
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geothermal property before enactment of
the Tax Reform Act of 1986), and also
rules relating to the disposition of stock
in an S corporation that holds certain
natural resource recapture property.
Changes to the applicable tax law were
made by the Tax Reform Act of 1986,
and the Subchapter S Revision Act of
1982. The regulations provide the
public with guidance in complying with
the changed tax laws.
Respondents: Private Sector:
Businesses or other for-profits.
Estimated Total Burden Hours: 1,000.
OMB Number: 1545–1496.
Type of Review: Extension without
change of a currently approved
collection.
Title: REG–209673–93 Mark to Market
for Dealers in Securities (TD 8700
(final)).
Abstract: Under section 1.475(b)–4,
the information required to be recorded
is required by the IRS to determine
whether exemption from mark-tomarket treatment is properly claimed,
and will be used to make that
determination upon audit of taxpayer’s
books and records. Also, under section
1.475(c)–1(a)(3)(iii), the information is
necessary for the Service to determine
whether a consolidated group has
elected to disregard inter-member
transactions in determining a member’s
status as a dealer in securities.
Respondents: Private Sector:
Businesses or other for-profits.
Estimated Total Burden Hours: 2,950.
OMB Number: 1545–1581.
Type of Review: Extension without
change of a currently approved
collection.
Title: T.D. 8812—Continuation
Coverage Requirements Applicable to
Group Health Plans.
Abstract: The Consolidated Omnibus
Budget Reconciliation Act of 1985
(COBRA) added health care
continuation requirements that apply to
group health plans. Coverage required to
be provided under those requirements is
referred to as COBRA continuation
coverage. This document contains final
regulations based on these two sets of
proposed regulations. The final
regulations also reflect statutory
amendments to the COBRA
continuation coverage requirements
since COBRA was enacted. The
regulations will generally affect
sponsors of and participants in group
health plans and they provide plan
sponsors and plan administrators with
guidance necessary to comply with the
law.
Respondents: Private Sector:
Businesses or other for-profits.
Estimated Total Burden Hours:
404,640.
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OMB Number: 1545–1633.
Type of Review: Extension without
change of a currently approved
collection.
Title: T.D. 8802—Certain Asset
Transfers to a Tax-Exempt Entity.
Abstract: This document contains
final regulations that implement
provisions of the Tax Reform Act of
1986 and the Technical and
Miscellaneous Revenue Act of 1988.
The final regulations generally affect a
taxable corporation that transfers all or
substantially all of its assets to a taxexempt entity or converts from a taxable
corporation to a tax-exempt entity in a
transaction other than a liquidation, and
generally require the taxable corporation
to recognize gain or loss as if it had sold
the assets transferred at fair market
value.
Respondents: Private Sector: Not-forprofit institutions.
Estimated Total Burden Hours: 125.
OMB Number: 1545–1641.
Type of Review: Extension without
change of a currently approved
collection.
Title: Rev. Proc. 99–17—Mark to
Market Election for Commodities
Dealers and Securities and Commodities
Traders.
Abstract: The revenue procedure
prescribes the time and manner for
dealers in commodities and traders in
securities or commodities to elect to use
the mark-to-market method of
accounting under Sec. 475(e) or (f) of
the Internal Revenue Code. The
collections of information in sections 5
and 6 of this revenue procedure are
required by the IRS in order to facilitate
monitoring taxpayers changing
accounting methods resulting from
making the elections under Sec. 475(e)
or (f).
Respondents: Private Sector:
Businesses or other for-profits.
Estimated Total Burden Hours: 500.
OMB Number: 1545–1643.
Type of Review: Extension without
change of a currently approved
collection.
Title: REG–209484–87 (TD 8814 final)
Federal Insurance Contributions Act
(FICA) Taxation of Amounts Under
Employee Benefit Plans.
Abstract: This regulation provides
guidance as to when amounts deferred
under or paid from a nonqualified
deferred compensation plan are taken
into account as wages for purposes of
the employment taxes imposed by the
Federal Insurance Contributions Act
(FICA). Section 31.3121(v)(2)–1(a)(2)
requires that the material terms of a plan
be set forth in writing.
Respondents: Private Sector:
Businesses or other for-profits.
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Estimated Total Burden Hours:
12,500.
OMB Number: 1545–1646.
Type of Review: Extension without
change of a currently approved
collection.
Title: T.D. 8851—Return Requirement
for United States Persons who acquire
or dispose of an interest in a foreign
partnership, or whose proportional
interest in a foreign partnership
changes.
Abstract: This document contains
final regulations under section 6046A of
the Internal Revenue Code relating to
the requirement that United States
persons, in certain circumstances, file a
return if they acquire or dispose of an
interest in a foreign partnership, or if
their proportional interest in a foreign
partnership changes. The burden of
complying with the collection of
information is reported on Form 8865.
Respondents: Private Sector:
Businesses or other for-profits.
Estimated Total Burden Hours: 1.
OMB Number: 1545–1649.
Type of Review: Extension without
change of a currently approved
collection.
Title: Rev. Proc. 99–21—Disability
Suspension.
Abstract: The information is needed
to establish a claim that a taxpayer was
financially disabled for purposes of
section 6511(h) of the Internal Revenue
Code (which was added by section 3203
of the Internal Revenue Service
Restructuring and Reform Act of 1998).
Under section 6511(h), the statute of
limitations on claims for credit or
refund is suspended for any period of an
individual taxpayer’s life during which
the taxpayer is unable to manage his or
her financial affairs because of a
medically determinable mental or
physical impairment, if the impairment
can be expected to result in death, or
has lasted (or can be expected to last) for
a continuous period of not less than 12
months. Section 6511(h)(2)(A) requires
that proof of the taxpayer’s financial
disability be furnished to the Internal
Revenue Service.
Respondents: Individuals and
Households.
Estimated Total Burden Hours:
24,100.
OMB Number: 1545–1654.
Type of Review: Extension without
change of a currently approved
collection.
Title: T.D. 8902—Capital Gains,
Partnership and Subchapter S, and
Trust Provisions.
Abstract: This document contains
final regulations relating to sales or
exchanges of interests in partnerships, S
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corporations, and trusts. The regulations
interpret the look-through provisions of
section 1(h), added by section 311 of the
Taxpayer Relief Act of 1997 and
amended by sections 5001 and 6005(d)
of the Internal Revenue Service
Restructuring and Reform Act of 1998,
and explain the rules relating to the
division of the holding period of a
partnership interest. The regulations
affect partnerships, partners, S
corporations, S corporation
shareholders, trusts, and trust
beneficiaries.
Respondents: Private Sector:
Businesses or other for-profits.
Estimated Total Burden Hours: 1.
OMB Number: 1545–1655
Type of Review: Extension without
change of a currently approved
collection.
Title: T.D. 8861—Private Foundation
Disclosure Rules.
Abstract: This document contains
final regulations that amend the
regulations relating to the public
disclosure requirements described in
section 6104(d) of the Internal Revenue
Code. These final regulations implement
changes made by the Tax and Trade
Relief Extension Act of 1998, which
extended to private foundations the
same rules regarding public disclosure
of annual information returns that apply
to other tax-exempt organizations. These
final regulations provide guidance for
private foundations required to make
copies of applications for recognition of
exemption and annual information
returns available for public inspection
and to comply with requests for copies
of those documents.
Respondents: Private Sector: Not-forprofit institutions.
Estimated Total Burden Hours:
32,596.
OMB Number: 1545–1658.
Type of Review: Extension without
change of a currently approved
collection.
Title: T.D. 8940—Purchase Price
Allocations in Deemed Actual Asset
Acquisitions.
Abstract: This document contains
final regulations relating to deemed and
actual asset acquisitions under sections
338 and 1060. The final regulations
affect sellers and buyers of corporate
stock that are eligible to elect to treat the
transaction as a deemed asset
acquisition. The final regulations also
affect sellers and buyers of assets that
constitute a trade or business.
Respondents: Private Sector:
Businesses or other for-profits.
Estimated Total Burden Hours: 25.
OMB Number: 1545–1759.
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Type of Review: Extension without
change of a currently approved
collection.
Title: Amended Quarterly Federal
Excise Tax Return.
Form: 720X.
Abstract: Form 720X is used to make
adjustments to correct errors on form
720 filed for previous quarters. It can be
filed by itself or it can be attached to
any subsequent Form 720. Code section
6416(d) allows taxpayers to take a credit
on a subsequent return rather than filing
a refund claim.
Respondents: Private Sector:
Businesses or other for-profits.
Estimated Total Burden Hours:
152,460.
OMB Number: 1545–1762.
Type of Review: Extension without
change of a currently approved
collection.
Title: Direct Deposit of Corporate Tax
Refund.
Form: 8050.
Abstract: File Form 8050 to request
that the IRS deposit a corporate income
tax refund (including a refund of $1
million or more) directly into an
account at any U.S. bank or other
financial institution (such as a mutual
fund or brokerage firm) that accepts
direct deposits.
Respondents: Private Sector:
Businesses or other for-profits.
Estimated Total Burden Hours:
348,600.
OMB Number: 1545–1763.
Type of Review: Extension without
change of a currently approved
collection.
Title: Direct Deposit of Refund of $1
Million or more.
Form: 8302.
Abstract: This form is used to request
a deposit of a tax refund of $1 million
or more directly into an account at any
U.S. bank or other financial institution.
Respondents: Private Sector:
Businesses or other for-profits.
Estimated Total Burden Hours: 1,088.
OMB Number: 1545–1765.
Type of Review: Extension without
change of a currently approved
collection.
Title: T.D. 9171—New Markets Tax
Credit.
Abstract: The regulations provide
guidance for taxpayers claiming the new
markets tax credit under section 45D of
the Internal Revenue Code. The
reporting requirements in the
regulations require a qualified
community development entity (CDE) to
provide written notice to: (1) Any
taxpayer who acquires an equity
investment in the CDE at its original
issue that the equity investment is a
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66359
qualified equity investment entitling the
taxpayer to claim the new markets tax
credits; and (2) each holder of a
qualified equity investment, including
all prior holders of that investment that
a recapture event has occurred. CDE’s
must comply with such reporting
requirements to the Secretary as the
Secretary may prescribe.
Respondents: Private Sector:
Businesses or other for-profits.
Estimated Total Burden Hours: 210.
OMB Number: 1545–1767.
Type of Review: Extension without
change of a currently approved
collection.
Title: T.D. 8976—Dollar-Value LIFO
Regulations; Inventory Price Index
Computation Method.
Abstract: This document contains
final regulations under section 472 of
the Internal Revenue Code that relate to
accounting for inventories under the
last-in, first-out (LIFO) method. The
final regulations provide guidance
regarding methods of valuing dollarvalue LIFO pools and affect persons
who elect to use the dollar-value LIFO
and inventory price index computation
(IPIC) methods or who receive dollarvalue LIFO inventories in certain
nonrecognition transactions.
Respondents: Private Sector:
Businesses or other for-profits.
Estimated Total Burden Hours: 1.
OMB Number: 1545–1768.
Type of Review: Extension without
change of a currently approved
collection.
Title: Revenue Procedure 2003–84,
Optional Election to Make Monthly Sec.
706 Allocations.
Abstract: This revenue procedure
allows certain partnerships with money
market fund partners to make an
optional election to close the
partnership’s books on a monthly basis
with respect to the money market fund
partners.
Respondents: Private Sector:
Businesses or other for-profits.
Estimated Total Burden Hours: 500.
OMB Number: 1545–1773.
Type of Review: Extension without
change of a currently approved
collection.
Title: Revenue Procedure 2002–23,
Taxation of Canadian Retirement Plans
Under U.S.-Canada Income Tax Treaty.
Abstract: This Revenue Procedure
provides guidance for the application by
U.S. citizens and residents of the U.S.Canada Income Tax Treaty, as amended
by the 1995 protocol, in order to defer
U.S. Income taxes on income accrued in
certain Canadian retirement plans.
Respondents: Individuals and
Households.
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Federal Register / Vol. 76, No. 207 / Wednesday, October 26, 2011 / Notices
Estimated Total Burden Hours:
10,000.
OMB Number: 1545–1776.
Type of Review: Extension without
change of a currently approved
collection.
Title: U.S. Income Tax Return for
Electing Alaska Native Settlement
Trusts.
Form: 1041–N.
Abstract: An Alaska Native
Settlement Trust (ANST) may elect
under section 646 to have the special
income tax treatment of that section
apply to the trust and its beneficiaries.
This one-time election is made by filing
Form 1041–N and the form is used by
the ANST to report its income, etc., and
to compute and pay any income tax.
Form 1041–N is also used for the special
information reporting requirements that
apply to ANST’s.
Respondents: Private Sector:
Businesses or other for-profits.
Estimated Total Burden Hours: 680.
OMB Number: 1545–1783.
Type of Review: Extension without
change of a currently approved
collection.
Title: TD 8989—Guidance Necessary
to Facilitate Electronic Tax
Administration.
Abstract: The regulations provide a
regulatory statement of IRS authority to
prescribe what return information or
documentation must be filed with a
return, statement or other document
required to be made under any
provision of the internal revenue laws
or regulations. In addition, the
regulations eliminate regulatory
impediments to electronic filing of Form
1040.
Respondents: Individuals and
Households.
Estimated Total Burden Hours: 1.
OMB Number: 1545–1792.
Type of Review: Extension without
change of a currently approved
collection.
Title: REG–164754–01 (Final) SplitDollar Life Insurance Arrangements.
Abstract: The proposed regulations
provide guidance for loans made
pursuant to a split-dollar life insurance
arrangement. To obtain a particular
treatment under the regulations for
certain split- dollar loans, the parties to
the loan must make a written
representation, which must be kept as
part of their books and records and a
copy filed with their federal income tax
returns. In addition, if a split-dollar loan
provides for contingent payments, the
lender must produce a projected
payment schedule for the loan and give
the borrower a copy of the schedule.
This schedule is used by parties to
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16:53 Oct 25, 2011
Jkt 226001
compute their interest accruals and any
imputed transfers for tax purposes.
Respondents: Private Sector:
Businesses or other for-profits.
Estimated Total Burden Hours:
32,500.
OMB Number: 1545–1794.
Type of Review: Extension without
change of a currently approved
collection.
Title: T.D. 9088—Compensatory Stock
Options Under Section 482.
Abstract: This document contains
final regulations that provide guidance
regarding the application of the rules of
section 482 governing qualified cost
sharing arrangements. These regulations
provide guidance regarding the
treatment of stock-based compensation
for purposes of the rules governing
qualified cost sharing arrangements and
for purposes of the comparability factors
to be considered under the comparable
profits method.
Respondents: Private Sector:
Businesses or other for-profits.
Estimated Total Burden Hours: 2,000.
OMB Number: 1545–1919.
Type of Review: Extension without
change of a currently approved
collection.
Title: Prior Government Service
Information.
Form: 12854.
Abstract: This product is used to
identify applicants who have had prior
government services in order to request
the OPF from federal records and to
identify possible pay setting issues.
Respondents: Individuals and
Households.
Estimated Total Burden Hours: 6,230.
OMB Number: 1545–1920.
Type of Review: Extension without
change of a currently approved
collection.
Title: Notice Regarding Repayment of
a Buyout Prior to Re-employment with
the Federal Government.
Form: 12311.
Abstract: This form outlines the
regulations requiring those employees
being rehired by the government and
received a buyout from their previous
job to make repayment of the buyout
before they will be hired again.
Respondents: Individuals and
Households.
Estimated Total Burden Hours: 2,757.
OMB Number: 1545–1921.
Type of Review: Extension without
change of a currently approved
collection.
Title: Continuation Sheet for Item #16
(Additional Information) OF–306,
Declaration for Federal Employment.
Form: 12114.
Abstract: Form 12114 is used as a
continuation to the OF–306 to provide
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additional space for capturing
additional information.
Respondents: Individuals and
Households.
Estimated Total Burden Hours: 6,203.
OMB Number: 1545–1924.
Type of Review: Extension without
change of a currently approved
collection.
Title: Biodiesel Fuels Credit.
Form: 12114.
Abstract: IRC section 40A provides a
credit for biodiesel or qualified
biodiesel mixtures. IRC section 38(b)(17)
allows a nonrefundable income tax
credit for businesses that sell or use
biodiesel. Form 8864 is used to figure
the credits.
Respondents: Private Sector:
Businesses or other for-profits.
Estimated Total Burden Hours: 310.
OMB Number: 1545–1926.
Type of Review: Extension without
change of a currently approved
collection.
Title: Notice 2005–10, Domestic
Reinvestment Plans and Other Guidance
under Section 965.
Abstract: This document provides
guidance under new section 965
enacted by the American Jobs Creation
Act of 2004 (Pub. L.108–357). In
general, and subject to limitations and
conditions, section 965(a) provides that
a corporation that is a U.S. shareholder
of a controlled foreign corporation (CFC)
may elect, for one taxable year, an 85
percent dividends received deduction
(DRD) with respect to certain cash
dividends it receives from its CFC’s.
Section 965(f) provides that taxpayers
may elect the application of section 965
for either the taxpayer’s last taxable year
which begins before October 22, 2004,
or the taxpayer’s first taxable year to
which the taxpayer intends to elect
section 965 to apply prior to the
issuance of Form 8895, the election
must be made on a statement that is
attached to its timely-filed tax return
(including extensions) for such taxable
year. In addition, because the taxpayer
must establish to the satisfaction of the
Commissioner that it has satisfied the
conditions to take the DRD, the taxpayer
is required under this guidance to report
specified information and provide
specified documentation.
Respondents: Private Sector:
Businesses or other for-profits.
Estimated Total Burden Hours:
3,750,000.
OMB Number: 1545–1927.
Type of Review: Extension without
change of a currently approved
collection.
Title: IRS e-file Electronic Funds
Withdrawal Authorization for Form
7004.
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Form: 8878–A.
Abstract: Form 8878–A is used by a
corporate officer or agent and an
electronic return originator (ERO) to use
a personal identification number (PIN)
to authorize an electronic funds
withdrawal for a tax payment made
with a request to extend the filing due
date for a corporate income tax return.
Respondents: Private Sector:
Businesses or other for-profits.
Estimated Total Burden Hours:
505,400.
Bureau Clearance Officer: Yvette
Lawrence, Internal Revenue Service,
1111 Constitution Avenue, NW.,
Washington, DC 20224; (202) 927–4374.
OMB Reviewer: Shagufta Ahmed,
Office of Management and Budget, New
Executive Office Building, Room 10235,
Washington, DC 20503; (202) 395–7873.
Dawn D. Wolfgang,
Treasury PRA Clearance Officer.
[FR Doc. 2011–27671 Filed 10–25–11; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Fiscal Service
Surety Companies Acceptable on
Federal Bonds: Western National
Mutual Insurance Company
Financial Management Service,
Fiscal Service, Department of the
Treasury.
ACTION: Notice.
AGENCY:
This is Supplement No. 2 to
the Treasury Department Circular 570,
2011 Revision, published July 1, 2011,
at 76 FR 38892.
FOR FURTHER INFORMATION CONTACT:
Surety Bond Branch at (202) 874–6850.
SUPPLEMENTARY INFORMATION: A
Certificate of Authority as an acceptable
surety on Federal bonds is hereby
issued under 31 U.S.C. 9305 to the
following company: Western National
Mutual Insurance Company (NA1C #
15377). Business Address: P.O. Box
1463, Minneapolis, MN 55440. Phone:
(952) 835–5350. Underwriting
Limitation b/: $24,552,000. Surety
Licenses Cl: IL, IA, MN, NE, ND, OR,
SD, WI. Incorporated In: Minnesota.
Federal bond-approving officers
should annotate their reference copies
of the Treasury Circular 570
(‘‘Circular’’), 2011 Revision, to reflect
this addition.
Certificates of Authority expire on
June 30th each year, unless revoked
prior to that date. The Certificates are
subject to subsequent annual renewal as
long as the companies remain qualified
(see 31 CFR part 223). A list of qualified
companies is published annually as of
July 1st in the Circular, which outlines
details as to the underwriting
limitations, areas in which companies
are licensed to transact surety business,
and other information.
The Circular may be viewed and
downloaded through the Internet at
https://www.fms.treas.gov/c570.
SUMMARY:
jlentini on DSK4TPTVN1PROD with NOTICES
Last name
VerDate Mar<15>2010
GABRIELLE
PANDURANGA
MARIA
IBRAHEEM
RAMI
ANDREW
MISHAEL
SUSANNE
DEKEL
DOUGLAS
PHILIP
HISAE
WILLIAM
JAI
ROHINI
ALEXANDRA
EVON
MELINA
THOMAS
JULIAN
SUSAN
FLORA
STEPHEN
LIAM
CALEB
SHANE
STEVEN
HANSPETER
ALFRED
NATALIE
16:53 Oct 25, 2011
Questions concerning this Notice may
be directed to the U.S. Department of
the Treasury, Financial Management
Service, Financial Accounting and
Services Division, Surety Bond Branch,
3700 East-West Highway, Room 6F01,
Hyattsville, MD 20782.
Dated: October 7, 2011.
Laura Carrico,
Director, Financial Accounting and Services
Division.
[FR Doc. 2011–27539 Filed 10–25–11; 8:45 am]
BILLING CODE 4810–35–M
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Quarterly Publication of Individuals,
Who Have Chosen To Expatriate, as
Required by Section 6039G
Internal Revenue Service (IRS),
Treasury.
AGENCY:
ACTION:
Notice.
This notice is provided in
accordance with IRC section 6039G, as
amended, by the Health Insurance
Portability and Accountability Act
(HIPPA) of 1996. This listing contains
the name of each individual losing their
United States citizenship (within the
meaning of section 877(a) or 877A) with
respect to whom the Secretary received
information during the quarter ending
September 30, 2011.
SUMMARY:
First name
ABRAHAM
ADUSUMILLI
AGUILAR
AHMAD
AJAMI
ALEXIOU
ALIREZA
ALTOE
AMITTAI
AMRINE
ANDREWS
AOKI
ARP
ARYA
ARYA
ASHKENAZY
ATKINSON
AUERBACH
AVERY
BAER
BAGGETT
BANKES
BARBALACO
BATES
BAXTER
BERG
BERNARD
BERTSCHI
BINER
BIRDWELL
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Middle name/initials
TONY
R
L
MUSTAFA
MOHAMAD
CHRISTOPHER
FAHD
NICOLE
SCOTT
NEWTON
FRED
INGA
ST PATRICK CULLITON
YUL
JULIUS
JUNE
ROBERT
CHRISTOPHER
DAVID
JACQUES
ANDREA
ALEXANDER P
Sfmt 4703
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]]>Agencies
[Federal Register Volume 76, Number 207 (Wednesday, October 26, 2011)]
[Notices]
[Pages 66355-66361]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-27671]
=======================================================================
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Submission for OMB Review; Comment Request
October 20, 2011.
The Department of the Treasury will submit the following public
information collection requirements to OMB for review and clearance
under the Paperwork Reduction Act of 1995, Public Law 104-13 on or
after the date of publication of this notice. A copy of the submissions
may be obtained by calling the Treasury Bureau Clearance Officer
listed. Comments regarding these information collections should be
addressed to the OMB reviewer listed and to the Treasury PRA Clearance
Officer, Department of the Treasury, 1750 Pennsylvania Avenue, NW.,
Suite 11010, Washington, DC 20220.
DATES: Written comments should be received on or before November 25,
2011 to be assured consideration.
Internal Revenue Service (IRS)
OMB Number: 1545-0001.
Type of Review: Revision of a currently approved collection.
Title: Employer's Annual Railroad Retirement Tax Return.
Forms: CT-1, CT-1X.
Abstract: Railroad employers are required to file an annual return
to report employer and employee Railroad Retirement Tax Act (RRTA).
Form CT-1 is used for this purpose. IRS uses the information to insure
that the employer has paid the correct tax.
Respondents: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 39,455.
OMB Number: 1545-0003.
Type of Review: Extension without change of a currently approved
collection.
Title: Application for Employer Identification Number; Solicitud de
Numero de Identificacion Patronal (EIN).
Forms: SS-4, SS-4-PR.
Abstract: Taxpayers are required to have an identification number
for use on any return, statement, or other document must prepare and
file Form SS-4 or Form SS-4PR (Puerto Rico only) to obtain a number.
The information is used by the IRS and the SSA in tax administration
and by the Bureau of the Census for business statistics.
Respondents: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 15,941,913.
OMB Number: 1545-0024.
Type of Review: Revision of a currently approved collection.
Title: Claim for Refund and Request for Abatement.
Form: 843.
Abstract: IRC section 6402, 6404, and sections 301.6404-2, and
301.6404-3 of the regulations, allow for refunds of taxes (except
income taxes) or refund, abatement, or credit of interest, penalties,
and additions to tax in the event of errors or certain action by the
IRS. Form 843 is used by taxpayers to claim these refunds, credits, or
abatements.
Respondents: Individuals and Households.
Estimated Total Burden Hours: 875,295.
OMB Number: 1545-0049.
Type of Review: Extension without change of a currently approved
collection.
Title: Form 990-BL, Information and Initial Excise Tax Return for
Black Lung Benefit Trusts and Certain Related Persons; Form 6069,
Return of Excise Tax on Excess Contributions to BL Trust.
Forms: 990-BL, 6069.
Abstract: IRS uses Form 990-BL to monitor activities of black lung
benefit trusts, and to collect excise taxes on these trusts and certain
related persons if they engage in proscribed activities. The tax is
figured on Schedule A and attached to Form 990-BL. Form 6069 is used by
coal mine operators to figure the maximum deduction to a black lung
benefit trust. If excess contributions are made, IRS uses the form to
figure and collect the tax on excess contributions.
Respondents: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 563.
OMB Number: 1545-0058.
Type of Review: Extension without change of a currently approved
collection.
Title: Application for Recognition of Exemption Under Section 521
of the Internal Revenue Code.
Form: 1028.
Abstract: Farmers' cooperatives must file Form 1028 to apply for
exemption from Federal income tax as being organizations described in
IRC section 521. The information on Form 1028 provides the basis for
determining whether the applicants are exempt.
Respondents: Private Sector: Businesses or other for-profits,
Farms.
Estimated Total Burden Hours: 2,545.
OMB Number: 1545-0152.
Type of Review: Extension without change of a currently approved
collection.
Title: Application for Change in Accounting Method.
Form: 3115.
Abstract: Form 3115 is used by taxpayers who wish to change their
method of computing their taxable income. The form is used by the IRS
to determine if electing taxpayers have met the requirements and are
able to change to the method requested.
Respondents: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 929,066.
OMB Number: 1545-0216.
Type of Review: Extension without change of a currently approved
collection.
Title: International Boycott Report.
Form: 5713 and Schedules A, B, and C to Form 5713.
Abstract: Form 5713 and related Schedules A, B, and C are used by
any entity that has operations in a ``boycotting'' country. If that
entity cooperates with or participates in an international boycott it
loses a portion of the foreign tax credit, or deferral of FSC and IC-
DISC benefits. The IRS uses Form 5713 to determine if any of the above
benefits should be lost. The
[[Page 66356]]
information is also used as the basis for a report to the Congress.
Respondents: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 69,495.
OMB Number: 1545-0284.
Type of Review: Extension without change of a currently approved
collection.
Title: Application for Determination of Employee Stock Ownership
Plan.
Form: 5309.
Abstract: Form 5309 is used in conjunction with Form 5300 or Form
5303 when applying for a determination letter as to a deferred
compensation plan's qualification status under section 409 or
4975(e)(7) of the Internal Revenue Code. The information is used to
determine whether the plan qualifies.
Respondents: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 26,975.
OMB Number: 1545-0723.
Type of Review: Extension without change of a currently approved
collection.
Title: T.D. 8043--Manufacturers Excise Taxes and Sporting Goods and
Firearms and Other Administrative Provisions of Special Application to
Manufacturers and Retailers Excise Taxes.
Abstract: This document contains final regulations which revise and
update the regulations on manufacturers excise taxes on sporting goods
and firearms and other administrative provisions especially applicable
to manufacturers and retailers excise taxes. These amendments revise
and update Part 48 to achieve greater clarity and conform the
regulations to numerous amendments to the Internal Revenue Code of 1954
made after 1964. These regulations provide necessary guidance to the
public for compliance with the law.
Respondents: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 475,000.
OMB Number: 1545-0795.
Type of Review: Extension without change of a currently approved
collection.
Title: Exemption From Withholding on Compensation for Independent
(and Certain Dependent) Personal Services of a Nonresident Alien
Individual.
Form: 8233.
Abstract: Compensation paid to a nonresident alien (NRA) individual
for independent personal services (self-employment) is generally
subject to 30% withholding or graduated rates. However, compensation
may be exempt from withholding because of a U.S. tax treaty or personal
exemption amount. Form 8233 is used to request exemption from
withholding.
Respondents: Individuals and Households.
Estimated Total Burden Hours: 1,320,000.
OMB Number: 1545-0879.
Type of Review: Extension without change of a currently approved
collection.
Title: IA-195-78 (Final) Certain Returned Magazines, Paperbacks or
Records.
Abstract: The regulations provide rules relating to an exclusion
from gross income for certain returned merchandise. The regulations
provide that in addition to physical return of the merchandise, a
written statement listing certain information may constitute evidence
of the return. Taxpayers who receive physical evidence of the return
may, in lieu of retaining physical evidence, retain documentary
evidence of the return. Taxpayers in the trade or business of selling
magazines, paperbacks, or records, who elect to use a certain method of
accounting, are affected.
Respondents: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 8,125.
OMB Number: 1545-0922.
Type of Review: Extension without change of a currently approved
collection.
Title: Form 8329, Lender's Information Return for Mortgage Credit
Certificates (MCCs); Form 8330, Issuer's Quarterly Information Return
for Mortgage Credit Certificates (MCCs).
Forms: 8329, 8330.
Abstract: Form 8329 is used by lending institutions and Form 8330
is used by state and local governments to report on mortgage credit
certificates (MCCs) authorized under IRC Section 25. IRS matches the
information supplied by lenders and issuers to ensure that the credit
is computed properly.
Respondents: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 73,720.
OMB Number: 1545-1100.
Type of Review: Extension without change of a currently approved
collection.
Title: REG-209106-89 (NPRM) Changes With Respect to Prizes and
Awards and Employee Achievement Awards.
Abstract: This regulation requires recipients of prizes and awards
to maintain records to determine whether a qualifying designation has
been made. The affected public are prize and award recipients who seek
to exclude the cost of a qualifying prize or award.
Respondents: Individuals and Households.
Estimated Total Burden Hours: 1,275.
OMB Number: 1545-1139.
Type of Review: Extension without change of a currently approved
collection.
Title: PS-264-82 (Final) Adjustments to Basis of Stock and
Indebtedness to Shareholders of S Corporations and Treatment of
Distributions by S Corporations to Shareholders; REG-144859-04--Section
1367 Regard.
Abstract: The regulations provide the procedures and the statements
to be filed by S corporations for making the election provided under
section 1368, and by shareholders who choose to reorder items that
decrease their basis. Statements required to be filled will be used to
verify that taxpayers are complying with the requirements imposed by
Congress.
Respondents: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 450.
OMB Number: 1545-1269.
Type of Review: Extension without change of a currently approved
collection.
Title: T.D. 8461--Nuclear Decommissioning Fund Qualification
Requirements.
Abstract: This document contains final regulations relating to the
qualification requirements of a nuclear decommissioning fund. Pursuant
to former section 468A(e)(4)(C) of the Internal Revenue Code, current
regulations require that nuclear decommissioning funds invest directly
in permissible assets and permitted two or more such funds to combine
assets for investment purposes. The Comprehensive National Energy
Policy Act of 1992 repealed the investment restriction contained in
section 468A(e)(4)(C). These final regulations amend the existing
regulations to reflect the statutory change.
Respondents: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 150.
OMB Number: 1545-1375.
Type of Review: Extension without change of a currently approved
collection.
Title: T.D. 8537--Carryover of Passive Activity Losses and Credits
and At Risk Losses to Bankruptcy Estates of Individuals.
Abstract: This document contains final regulations relating to the
[[Page 66357]]
application of carryover of passive activity losses and credits and at
risk losses to the bankruptcy estates of individuals. The final
regulations affect individual taxpayers who file bankruptcy petitions
under chapter 7 or chapter 11 of title 11 of the United States Code and
have passive activity losses and credits under section 469 or losses
under section 465.
Respondents: Individuals and Households.
Estimated Total Burden Hours: 100.
OMB Number: 1545-1381.
Type of Review: Extension without change of a currently approved
collection.
Title: T.D. 8546--Limitations on Corporate Net Operating Loss.
Abstract: This document contains final income tax regulations
providing rules for allocating net operating loss or taxable income,
and net capital loss or gain, within the taxable year in which a loss
corporation has an ownership change under section 382 of the Internal
Revenue Code of 1986. These regulations permit the loss corporation to
elect to allocate these amounts between the period ending on the change
date and the period beginning on the day after the change date as if
its books were closed on the change date.
Respondents: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 200.
OMB Number: 1545-1393.
Type of Review: Extension without change of a currently approved
collection.
Title: EE-14-81 (NPRM) Deductions and Reductions in Earnings and
Profits (or Accumulated Profits) With Respect to Certain Foreign
Deferred Compensation Plans Maintained by Certain Foreign Corporations
or by Foreign Branches of Domestic Corporations.
Abstract: The regulation provides guidance regarding the
limitations on deductions and adjustments to earnings and profits (or
accumulated profits) for certain foreign deferred compensation plans.
Respondents will be multinational corporations.
Respondents: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 200.
OMB Number: 1545-1407.
Type of Review: Extension without change of a currently approved
collection.
Title: Consent To Extend the Time to Assess the Branch Profits Tax
Under Regulations Sections 1.884-2(a) and (c).
Form: 8848.
Abstract: Form 8848 is used by foreign corporations that have (a)
completely terminated all of their U.S. trade or business within the
meaning of Temporary Regulations section 1.884-2T(a) during the tax
year or (b) transferred their U.S. assets to a domestic corporation in
a transaction described in Code section 381(a), if the foreign
corporation was engaged in a U.S. trade or business at that time.
Respondents: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 22,500.
OMB Number: 1545-1409.
Type of Review: Extension without change of a currently approved
collection.
Title: Election to Use Different Annualization Periods for
Corporate Estimated Tax.
Form: 8842.
Abstract: Form 8842 is used by corporations (including S
corporations), tax-exempt organizations subject to the unrelated
business income tax, and private foundations to annually elect the use
of an annualization period in section 6655(e)(2)(c)(i) or (ii) for
purpose of figuring the corporation's estimated tax payments under the
annualized income installment method.
Respondents: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 4,335.
OMB Number: 1545-1435.
Type of Review: Extension without change of a currently approved
collection.
Title: TD 8706--Electronic Filing of Form W-4.
Abstract: This document contains final regulations relating to Form
W-4, Employee's Withholding Allowance Certificate. The final
regulations authorize employers to establish electronic systems for use
by employees in filing their Forms W-4. The regulations provide
employers and employees with guidance necessary to comply with the law.
The regulations affect employers that establish electronic systems and
their employees.
Respondents: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 40,000.
OMB Number: 1545-1485.
Type of Review: Extension without change of a currently approved
collection.
Title T.D. 8743--Sale of Residence From Qualified Personal
Residence Trust.
Abstract: This document contains final regulations permitting the
reformation of a personal residence trust or a qualified personal
residence trust in order to comply with the applicable requirements for
such trusts. The final regulations also provide that the governing
instruments of such trusts must prohibit the sale of a residence held
in the trust to the grantor of the trust, the grantor's spouse, or an
entity controlled by the grantor or the grantor's spouse.
Respondents: Individuals and Households.
Estimated Total Burden Hours: 625.
OMB Number: 1545-1486.
Type of Review: Extension without change of a currently approved
collection.
Title T.D. 8697--Simplification of Entity Classification Rules.
Abstract: This regulation provides rules to allow certain
unincorporated business organizations to elect to be treated as
corporations or partnerships for federal tax purposes. The election is
made by filing Form 8832, Entity Classification Election. The
information collected on the election will be used to verify the
classification of electing organizations.
Respondents: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 1.
OMB Number: 1545-1491.
Type of Review: Extension without change of a currently approved
collection.
Title T.D. 8746--Amortizable Bond Premium.
Abstract: This document contains final regulations relating to the
federal income tax treatment of bond premium and bond issuance premium.
The regulations reflect changes to the law made by the Tax Reform Act
of 1986 and the Technical and Miscellaneous Revenue Act of 1988. The
regulations will provide needed guidance to holders and issuers of debt
instruments.
Respondents: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 7,500.
OMB Number: 1545-1493.
Type of Review: Extension without change of a currently approved
collection.
Title T.D. 8684--Treatment of Gain From the Disposition of Interest
in Certain Natural Resource Recapture Property by S Corporations and
Their Shareholders.
Abstract: This document contains final regulations relating to the
tax treatment by S Corporations and their shareholders of gain from the
disposition by an S corporation (and a corporation that was formerly an
S corporation) of certain natural resource recapture property (section
1254 property after enactment of the Tax Reform Act of 1986 and oil,
gas, or
[[Page 66358]]
geothermal property before enactment of the Tax Reform Act of 1986),
and also rules relating to the disposition of stock in an S corporation
that holds certain natural resource recapture property. Changes to the
applicable tax law were made by the Tax Reform Act of 1986, and the
Subchapter S Revision Act of 1982. The regulations provide the public
with guidance in complying with the changed tax laws.
Respondents: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 1,000.
OMB Number: 1545-1496.
Type of Review: Extension without change of a currently approved
collection.
Title: REG-209673-93 Mark to Market for Dealers in Securities (TD
8700 (final)).
Abstract: Under section 1.475(b)-4, the information required to be
recorded is required by the IRS to determine whether exemption from
mark-to-market treatment is properly claimed, and will be used to make
that determination upon audit of taxpayer's books and records. Also,
under section 1.475(c)-1(a)(3)(iii), the information is necessary for
the Service to determine whether a consolidated group has elected to
disregard inter-member transactions in determining a member's status as
a dealer in securities.
Respondents: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 2,950.
OMB Number: 1545-1581.
Type of Review: Extension without change of a currently approved
collection.
Title: T.D. 8812--Continuation Coverage Requirements Applicable to
Group Health Plans.
Abstract: The Consolidated Omnibus Budget Reconciliation Act of
1985 (COBRA) added health care continuation requirements that apply to
group health plans. Coverage required to be provided under those
requirements is referred to as COBRA continuation coverage. This
document contains final regulations based on these two sets of proposed
regulations. The final regulations also reflect statutory amendments to
the COBRA continuation coverage requirements since COBRA was enacted.
The regulations will generally affect sponsors of and participants in
group health plans and they provide plan sponsors and plan
administrators with guidance necessary to comply with the law.
Respondents: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 404,640.
OMB Number: 1545-1633.
Type of Review: Extension without change of a currently approved
collection.
Title: T.D. 8802--Certain Asset Transfers to a Tax-Exempt Entity.
Abstract: This document contains final regulations that implement
provisions of the Tax Reform Act of 1986 and the Technical and
Miscellaneous Revenue Act of 1988. The final regulations generally
affect a taxable corporation that transfers all or substantially all of
its assets to a tax-exempt entity or converts from a taxable
corporation to a tax-exempt entity in a transaction other than a
liquidation, and generally require the taxable corporation to recognize
gain or loss as if it had sold the assets transferred at fair market
value.
Respondents: Private Sector: Not-for-profit institutions.
Estimated Total Burden Hours: 125.
OMB Number: 1545-1641.
Type of Review: Extension without change of a currently approved
collection.
Title: Rev. Proc. 99-17--Mark to Market Election for Commodities
Dealers and Securities and Commodities Traders.
Abstract: The revenue procedure prescribes the time and manner for
dealers in commodities and traders in securities or commodities to
elect to use the mark-to-market method of accounting under Sec. 475(e)
or (f) of the Internal Revenue Code. The collections of information in
sections 5 and 6 of this revenue procedure are required by the IRS in
order to facilitate monitoring taxpayers changing accounting methods
resulting from making the elections under Sec. 475(e) or (f).
Respondents: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 500.
OMB Number: 1545-1643.
Type of Review: Extension without change of a currently approved
collection.
Title: REG-209484-87 (TD 8814 final) Federal Insurance
Contributions Act (FICA) Taxation of Amounts Under Employee Benefit
Plans.
Abstract: This regulation provides guidance as to when amounts
deferred under or paid from a nonqualified deferred compensation plan
are taken into account as wages for purposes of the employment taxes
imposed by the Federal Insurance Contributions Act (FICA). Section
31.3121(v)(2)-1(a)(2) requires that the material terms of a plan be set
forth in writing.
Respondents: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 12,500.
OMB Number: 1545-1646.
Type of Review: Extension without change of a currently approved
collection.
Title: T.D. 8851--Return Requirement for United States Persons who
acquire or dispose of an interest in a foreign partnership, or whose
proportional interest in a foreign partnership changes.
Abstract: This document contains final regulations under section
6046A of the Internal Revenue Code relating to the requirement that
United States persons, in certain circumstances, file a return if they
acquire or dispose of an interest in a foreign partnership, or if their
proportional interest in a foreign partnership changes. The burden of
complying with the collection of information is reported on Form 8865.
Respondents: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 1.
OMB Number: 1545-1649.
Type of Review: Extension without change of a currently approved
collection.
Title: Rev. Proc. 99-21--Disability Suspension.
Abstract: The information is needed to establish a claim that a
taxpayer was financially disabled for purposes of section 6511(h) of
the Internal Revenue Code (which was added by section 3203 of the
Internal Revenue Service Restructuring and Reform Act of 1998). Under
section 6511(h), the statute of limitations on claims for credit or
refund is suspended for any period of an individual taxpayer's life
during which the taxpayer is unable to manage his or her financial
affairs because of a medically determinable mental or physical
impairment, if the impairment can be expected to result in death, or
has lasted (or can be expected to last) for a continuous period of not
less than 12 months. Section 6511(h)(2)(A) requires that proof of the
taxpayer's financial disability be furnished to the Internal Revenue
Service.
Respondents: Individuals and Households.
Estimated Total Burden Hours: 24,100.
OMB Number: 1545-1654.
Type of Review: Extension without change of a currently approved
collection.
Title: T.D. 8902--Capital Gains, Partnership and Subchapter S, and
Trust Provisions.
Abstract: This document contains final regulations relating to
sales or exchanges of interests in partnerships, S
[[Page 66359]]
corporations, and trusts. The regulations interpret the look-through
provisions of section 1(h), added by section 311 of the Taxpayer Relief
Act of 1997 and amended by sections 5001 and 6005(d) of the Internal
Revenue Service Restructuring and Reform Act of 1998, and explain the
rules relating to the division of the holding period of a partnership
interest. The regulations affect partnerships, partners, S
corporations, S corporation shareholders, trusts, and trust
beneficiaries.
Respondents: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 1.
OMB Number: 1545-1655
Type of Review: Extension without change of a currently approved
collection.
Title: T.D. 8861--Private Foundation Disclosure Rules.
Abstract: This document contains final regulations that amend the
regulations relating to the public disclosure requirements described in
section 6104(d) of the Internal Revenue Code. These final regulations
implement changes made by the Tax and Trade Relief Extension Act of
1998, which extended to private foundations the same rules regarding
public disclosure of annual information returns that apply to other
tax-exempt organizations. These final regulations provide guidance for
private foundations required to make copies of applications for
recognition of exemption and annual information returns available for
public inspection and to comply with requests for copies of those
documents.
Respondents: Private Sector: Not-for-profit institutions.
Estimated Total Burden Hours: 32,596.
OMB Number: 1545-1658.
Type of Review: Extension without change of a currently approved
collection.
Title: T.D. 8940--Purchase Price Allocations in Deemed Actual Asset
Acquisitions.
Abstract: This document contains final regulations relating to
deemed and actual asset acquisitions under sections 338 and 1060. The
final regulations affect sellers and buyers of corporate stock that are
eligible to elect to treat the transaction as a deemed asset
acquisition. The final regulations also affect sellers and buyers of
assets that constitute a trade or business.
Respondents: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 25.
OMB Number: 1545-1759.
Type of Review: Extension without change of a currently approved
collection.
Title: Amended Quarterly Federal Excise Tax Return.
Form: 720X.
Abstract: Form 720X is used to make adjustments to correct errors
on form 720 filed for previous quarters. It can be filed by itself or
it can be attached to any subsequent Form 720. Code section 6416(d)
allows taxpayers to take a credit on a subsequent return rather than
filing a refund claim.
Respondents: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 152,460.
OMB Number: 1545-1762.
Type of Review: Extension without change of a currently approved
collection.
Title: Direct Deposit of Corporate Tax Refund.
Form: 8050.
Abstract: File Form 8050 to request that the IRS deposit a
corporate income tax refund (including a refund of $1 million or more)
directly into an account at any U.S. bank or other financial
institution (such as a mutual fund or brokerage firm) that accepts
direct deposits.
Respondents: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 348,600.
OMB Number: 1545-1763.
Type of Review: Extension without change of a currently approved
collection.
Title: Direct Deposit of Refund of $1 Million or more.
Form: 8302.
Abstract: This form is used to request a deposit of a tax refund of
$1 million or more directly into an account at any U.S. bank or other
financial institution.
Respondents: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 1,088.
OMB Number: 1545-1765.
Type of Review: Extension without change of a currently approved
collection.
Title: T.D. 9171--New Markets Tax Credit.
Abstract: The regulations provide guidance for taxpayers claiming
the new markets tax credit under section 45D of the Internal Revenue
Code. The reporting requirements in the regulations require a qualified
community development entity (CDE) to provide written notice to: (1)
Any taxpayer who acquires an equity investment in the CDE at its
original issue that the equity investment is a qualified equity
investment entitling the taxpayer to claim the new markets tax credits;
and (2) each holder of a qualified equity investment, including all
prior holders of that investment that a recapture event has occurred.
CDE's must comply with such reporting requirements to the Secretary as
the Secretary may prescribe.
Respondents: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 210.
OMB Number: 1545-1767.
Type of Review: Extension without change of a currently approved
collection.
Title: T.D. 8976--Dollar-Value LIFO Regulations; Inventory Price
Index Computation Method.
Abstract: This document contains final regulations under section
472 of the Internal Revenue Code that relate to accounting for
inventories under the last-in, first-out (LIFO) method. The final
regulations provide guidance regarding methods of valuing dollar-value
LIFO pools and affect persons who elect to use the dollar-value LIFO
and inventory price index computation (IPIC) methods or who receive
dollar-value LIFO inventories in certain nonrecognition transactions.
Respondents: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 1.
OMB Number: 1545-1768.
Type of Review: Extension without change of a currently approved
collection.
Title: Revenue Procedure 2003-84, Optional Election to Make Monthly
Sec. 706 Allocations.
Abstract: This revenue procedure allows certain partnerships with
money market fund partners to make an optional election to close the
partnership's books on a monthly basis with respect to the money market
fund partners.
Respondents: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 500.
OMB Number: 1545-1773.
Type of Review: Extension without change of a currently approved
collection.
Title: Revenue Procedure 2002-23, Taxation of Canadian Retirement
Plans Under U.S.-Canada Income Tax Treaty.
Abstract: This Revenue Procedure provides guidance for the
application by U.S. citizens and residents of the U.S.-Canada Income
Tax Treaty, as amended by the 1995 protocol, in order to defer U.S.
Income taxes on income accrued in certain Canadian retirement plans.
Respondents: Individuals and Households.
[[Page 66360]]
Estimated Total Burden Hours: 10,000.
OMB Number: 1545-1776.
Type of Review: Extension without change of a currently approved
collection.
Title: U.S. Income Tax Return for Electing Alaska Native Settlement
Trusts.
Form: 1041-N.
Abstract: An Alaska Native Settlement Trust (ANST) may elect under
section 646 to have the special income tax treatment of that section
apply to the trust and its beneficiaries. This one-time election is
made by filing Form 1041-N and the form is used by the ANST to report
its income, etc., and to compute and pay any income tax. Form 1041-N is
also used for the special information reporting requirements that apply
to ANST's.
Respondents: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 680.
OMB Number: 1545-1783.
Type of Review: Extension without change of a currently approved
collection.
Title: TD 8989--Guidance Necessary to Facilitate Electronic Tax
Administration.
Abstract: The regulations provide a regulatory statement of IRS
authority to prescribe what return information or documentation must be
filed with a return, statement or other document required to be made
under any provision of the internal revenue laws or regulations. In
addition, the regulations eliminate regulatory impediments to
electronic filing of Form 1040.
Respondents: Individuals and Households.
Estimated Total Burden Hours: 1.
OMB Number: 1545-1792.
Type of Review: Extension without change of a currently approved
collection.
Title: REG-164754-01 (Final) Split-Dollar Life Insurance
Arrangements.
Abstract: The proposed regulations provide guidance for loans made
pursuant to a split-dollar life insurance arrangement. To obtain a
particular treatment under the regulations for certain split- dollar
loans, the parties to the loan must make a written representation,
which must be kept as part of their books and records and a copy filed
with their federal income tax returns. In addition, if a split-dollar
loan provides for contingent payments, the lender must produce a
projected payment schedule for the loan and give the borrower a copy of
the schedule. This schedule is used by parties to compute their
interest accruals and any imputed transfers for tax purposes.
Respondents: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 32,500.
OMB Number: 1545-1794.
Type of Review: Extension without change of a currently approved
collection.
Title: T.D. 9088--Compensatory Stock Options Under Section 482.
Abstract: This document contains final regulations that provide
guidance regarding the application of the rules of section 482
governing qualified cost sharing arrangements. These regulations
provide guidance regarding the treatment of stock-based compensation
for purposes of the rules governing qualified cost sharing arrangements
and for purposes of the comparability factors to be considered under
the comparable profits method.
Respondents: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 2,000.
OMB Number: 1545-1919.
Type of Review: Extension without change of a currently approved
collection.
Title: Prior Government Service Information.
Form: 12854.
Abstract: This product is used to identify applicants who have had
prior government services in order to request the OPF from federal
records and to identify possible pay setting issues.
Respondents: Individuals and Households.
Estimated Total Burden Hours: 6,230.
OMB Number: 1545-1920.
Type of Review: Extension without change of a currently approved
collection.
Title: Notice Regarding Repayment of a Buyout Prior to Re-
employment with the Federal Government.
Form: 12311.
Abstract: This form outlines the regulations requiring those
employees being rehired by the government and received a buyout from
their previous job to make repayment of the buyout before they will be
hired again.
Respondents: Individuals and Households.
Estimated Total Burden Hours: 2,757.
OMB Number: 1545-1921.
Type of Review: Extension without change of a currently approved
collection.
Title: Continuation Sheet for Item 16 (Additional
Information) OF-306, Declaration for Federal Employment.
Form: 12114.
Abstract: Form 12114 is used as a continuation to the OF-306 to
provide additional space for capturing additional information.
Respondents: Individuals and Households.
Estimated Total Burden Hours: 6,203.
OMB Number: 1545-1924.
Type of Review: Extension without change of a currently approved
collection.
Title: Biodiesel Fuels Credit.
Form: 12114.
Abstract: IRC section 40A provides a credit for biodiesel or
qualified biodiesel mixtures. IRC section 38(b)(17) allows a
nonrefundable income tax credit for businesses that sell or use
biodiesel. Form 8864 is used to figure the credits.
Respondents: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 310.
OMB Number: 1545-1926.
Type of Review: Extension without change of a currently approved
collection.
Title: Notice 2005-10, Domestic Reinvestment Plans and Other
Guidance under Section 965.
Abstract: This document provides guidance under new section 965
enacted by the American Jobs Creation Act of 2004 (Pub. L.108-357). In
general, and subject to limitations and conditions, section 965(a)
provides that a corporation that is a U.S. shareholder of a controlled
foreign corporation (CFC) may elect, for one taxable year, an 85
percent dividends received deduction (DRD) with respect to certain cash
dividends it receives from its CFC's. Section 965(f) provides that
taxpayers may elect the application of section 965 for either the
taxpayer's last taxable year which begins before October 22, 2004, or
the taxpayer's first taxable year to which the taxpayer intends to
elect section 965 to apply prior to the issuance of Form 8895, the
election must be made on a statement that is attached to its timely-
filed tax return (including extensions) for such taxable year. In
addition, because the taxpayer must establish to the satisfaction of
the Commissioner that it has satisfied the conditions to take the DRD,
the taxpayer is required under this guidance to report specified
information and provide specified documentation.
Respondents: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 3,750,000.
OMB Number: 1545-1927.
Type of Review: Extension without change of a currently approved
collection.
Title: IRS e-file Electronic Funds Withdrawal Authorization for
Form 7004.
[[Page 66361]]
Form: 8878-A.
Abstract: Form 8878-A is used by a corporate officer or agent and
an electronic return originator (ERO) to use a personal identification
number (PIN) to authorize an electronic funds withdrawal for a tax
payment made with a request to extend the filing due date for a
corporate income tax return.
Respondents: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 505,400.
Bureau Clearance Officer: Yvette Lawrence, Internal Revenue
Service, 1111 Constitution Avenue, NW., Washington, DC 20224; (202)
927-4374.
OMB Reviewer: Shagufta Ahmed, Office of Management and Budget, New
Executive Office Building, Room 10235, Washington, DC 20503; (202) 395-
7873.
Dawn D. Wolfgang,
Treasury PRA Clearance Officer.
[FR Doc. 2011-27671 Filed 10-25-11; 8:45 am]
BILLING CODE 4830-01-P
