Submission for OMB Review; Comment Request, 52785-52789 [2012-21402]

Download as PDF Federal Register / Vol. 77, No. 169 / Thursday, August 30, 2012 / Notices mstockstill on DSK4VPTVN1PROD with NOTICES deletions or restrictions of the Interstate system or other National Network route based upon specified justification criteria in section 658.11(d)(2). Requests for deletions are published in the Federal Register for notice and comment. Notice and Request for Comment The FHWA published a Notice and Request for Comment on July 9, seeking comments from the general public on this request submitted by the MDTA for a deletion in accordance with 23 CFR 658.11(d). The comment period closed on August 9. No public comments were received. The FHWA sought comments on this request for temporary deletion from the National Network in accordance with 23 CFR 658.11(d). Specifically, the request is for approval of the temporary closure of I–395 just south of Conway Street in the city of Baltimore from the period beginning Wednesday August 29, at approximately 6 p.m. through Tuesday, September 4, at around 6 a.m., encompassing the Labor Day holiday. This closure will be undertaken in support of the BGP which will use the streets of downtown Baltimore as a race course. It is anticipated the BGP event will be hosted in the city of Baltimore for the next 4 consecutive years. The inaugural event occurred September 2 through September 4, 2011. The event is expected to attract 160,000 spectators over a 3–4 day period, not including the event organizer workforce and volunteers, the racing organizations and their respective personnel, or media and vendors. Event planners expect spectators from within a 400-mile radius of the city, with a large portion traveling the I–95 corridor. It is anticipated that the attendance for the peak day (Sunday) will reach 70,000 people with most arriving by private vehicle. The construction and operation of the race course will create safety concerns by obstructing access from the I–395 northern terminus to the local street system including Howard Street, Conway Street, and Lee Street. However, an existing connection from I– 395 to Martin Luther King, Jr. Boulevard will remain open throughout the event. In addition, access to and from I–95 into and out of the city along alternative access routes, including US 1, US 40, Russell Street, and Washington Boulevard will be maintained. The BGP and the city plan to update the 2011 signing plan to inform and guide motorists to, through, and around the impacted downtown area. The statewide transportation operations system, the Coordinated Highways Action Response Team, will provide real-time traffic VerDate Mar<15>2010 17:07 Aug 29, 2012 Jkt 226001 information to motorists through dynamic message signs and highway advisory radio. The MDTA states that the temporary closure of this segment of I–395 to general traffic should have no impact on Interstate commerce. I–95, the main north-south Interstate route in the region, will remain open during the time period of the event. There are five additional I–95 interchanges, just to the north or south of I–395, with connections to the local street system including the arterials servicing the city’s downtown area. A sign and supplemental traffic control systems plan was developed as part of the 2011 event’s Traffic Management Plan (TMP). In addition, I–695 (Baltimore Beltway) will provide motorists traveling through the region the ability to bypass the impact area by circling around the city. Commercial motor vehicles of the dimensions and configurations described in 23 CFR 658.13 and 658.15 which serve the impacted area, may use the alternate routes listed above. Vehicles servicing the businesses bordering the impacted area will still be able to do so by also using the alternative routes noted above to circulate around the restricted area. In addition, vehicles not serving businesses in the restricted area but, currently using I–395 and the local street system to reach their ultimate destinations, will be able to use the I– 95 interchanges north and south of I– 395 to access the alternative routes. A map depicting the alternative routes is available electronically at the docket established for this notice at https:// www.regulations.gov. The MDTA has reviewed these alternative routes and determined the routes to generally be capable of safely accommodating the diverted traffic during the period of temporary restriction. As mentioned previously, the sign and supplemental traffic control system plan is also being updated as part of the event’s TMP. Commercial vehicles as well as general traffic leaving the downtown area will also be able to use the alternative routes to reach I–95 and the rest of the Interstate System. The BGP and the city are working closely with businesses, including the hotels and restaurants located within the impact area, to schedule deliveries prior to the proposed I–395 closure to the extent feasible. The BGP is also working with affected businesses to schedule delivery services during the event period. The original plan uses a credentialing process for access through designated gates with access to specific loading areas. This request to temporarily close I–395 was prepared for the MDTA by the BGP and the city. In addition, the PO 00000 Frm 00110 Fmt 4703 Sfmt 4703 52785 city has reached out to the Federal, State, and local agencies to collaborate and coordinate efforts to address the logistical challenges of hosting the BGP. The BGP and the city have worked extensively with the businesses and residential communities in the city that could be affected by the event. These efforts include the formation of Task Forces and event Sub-Committees, to guide the development of plans for event security, transportation management, public safety and more. The FHWA did not receive any comments in response to the Notice and Request for Comment. After full consideration of the MDTA request discussed in this final notice and determining that the request meets the requirements of 23 CFR 658.11(d), FHWA approves the deletion as proposed. Authority: 23 U.S.C. 127, 315 and 49 U.S.C. 31111, 31112, and 31114; 23 CFR part 658. Issued on: August 24, 2012. Victor M. Mendez, Administrator. [FR Doc. 2012–21396 Filed 8–29–12; 8:45 am] BILLING CODE 4910–22–P DEPARTMENT OF THE TREASURY Submission for OMB Review; Comment Request August 27, 2012. The Department of the Treasury will submit the following information collection request to the Office of Management and Budget (OMB) for review and clearance in accordance with the Paperwork Reduction Act of 1995, Public Law 104–13, on or after the date of publication of this notice. DATES: Comments should be received on or before October 1, 2012 to be assured of consideration. ADDRESSES: Send comments regarding the burden estimate, or any other aspect of the information collection, including suggestion for reducing the burden, to (1) Office of Information and Regulatory Affairs, Office of Management and Budget, Attention: Desk Officer for Treasury, New Executive Office Building, Room 10235, Washington, DC 20503, or email at OIRA_Submission@OMB.EOP.GOV and (2) Treasury PRA Clearance Officer, 1750 Pennsylvania Ave. NW., Suite 8140, Washington, DC 20220, or email at PRA@treasury.gov. FOR FURTHER INFORMATION CONTACT: Copies of the submission(s) may be obtained by calling (202) 927–5331, email at PRA@treasury.gov, or the entire E:\FR\FM\30AUN1.SGM 30AUN1 52786 Federal Register / Vol. 77, No. 169 / Thursday, August 30, 2012 / Notices information collection request maybe found at www.reginfo.gov. mstockstill on DSK4VPTVN1PROD with NOTICES Internal Revenue Service (IRS) OMB Number: 1545–0169. Type of Review: Extension without change of a currently approved collection. Title: Form 4461, Application for Approval of Master or Prototype Defined Contribution Plan; Form 4461– A, Application for Approval of Master or Prototype Defined Benefit Plan; Form 4461–B, Application for Approval of Master or Prototype or Volume Submitter Plans. Form: Forms 4461, 4461–A, 4461–B. Abstract: The IRS uses these forms to determine from the information submitted whether the applicant plan qualifies under section 401(a) of the Internal Revenue Code for plan approval. The application is also used to determine if the related trust qualifies for tax exempt status under Code section 501(a). Affected Public: Private Sector: Business or other for-profits. Estimated Total Burden Hours: 65,765. OMB Number: 1545–0202. Type of Review: Revision of a currently approved collection. Title: Form 5310, Application for Determination for Terminating Plan; Form 6088, Distributable Benefits from Employee Pension Benefit Plans. Form: 5310, 6088. Abstract: Employers who have qualified deferred compensation plans can take an income tax deduction for contributions to their plans. IRS uses the data on Forms 5310 and 6088 to determine whether a plan still qualifies and whether there is any discrimination in benefits. Affected Public: Private Sector: Business or other for-profits. Estimated Total Burden Hours: 1,718,300. OMB Number: 1545–0770. Type of Review: Extension without change of a currently approved collection. Title: FI–182–78 (NPRM)—Transfers of Securities Under Certain Agreements. Abstract: Section 1058 of the Internal Revenue Code provides tax-free treatment for transfers of securities pursuant to a securities lending agreement. The agreement must be in writing and is used by the taxpayer, in a tax audit situation, to justify no recognition treatment of gain or loss on the exchange of the securities. Affected Public: Private Sector: Business or other for-profits. Estimated Total Burden Hours: 9,781. OMB Number: 1545–0919. VerDate Mar<15>2010 17:07 Aug 29, 2012 Jkt 226001 Type of Review: Extension without change of a currently approved collection. Title: Limitations on Percentage Depletion in the Case of Oil and Gas Wells (PS–105–75) Final. Abstract: The regulations require each partner to separately keep records of his share of the adjusted basis of partnership oil and gas property and require each partnership, trusts, estate, and operator to provide information necessary to certain persons to compute depletion with respect to oil and gas. Affected Public: Private Sector: Business or other for-profits. Estimated Total Burden Hours: 1. OMB Number: 1545–1049. Type of Review: Extension without change of a currently approved collection. Title: IA–7–88, (T.D. 8379) Excise Tax Relating to Gain or Other Income Realized by Any Person on Receipt of Greenmail. Abstract: The final regulations provide rules relating to the manner and method of reporting and paying the nondeductible 50 percent tax imposed by section 5881 of the Internal Revenue Code with respect to the receipt of greenmail. Affected Public: Private Sector: Business or other for-profits. Estimated Total Burden Hours: 2. OMB Number: 1545–1233. Type of Review: Extension without change of a currently approved collection. Title: Adjusted Current Earnings (IA– 14–91)(Final). Abstract: This regulation affects business and other for profit institutions. This information is required by the IRS to ensure the proper application of section 1.56(g)–1 of the regulation. It will be used to verify that taxpayers have properly elected the benefits of section 1.56(g)–1(r) of the regulation. Affected Public: Private Sector: Business or other for-profits. Estimated Total Burden Hours: 1,000. OMB Number: 1545–1347. Type of Review: Extension without change of a currently approved collection. Title: FI–7–94 and FI–36–92 (Final) Arbitrage Restrictions on Tax-Exempt Bonds. Abstract: The Code limits the ability of state and local government issuers of tax-exempt bonds to earn and/or keep arbitrage profits earned with bond proceeds. This regulation requires recordkeeping of certain interest rate hedges so that the hedges are taken into account in determining those profits. Affected Public: State, Local and Tribal Governments. PO 00000 Frm 00111 Fmt 4703 Sfmt 4703 Estimated Total Burden Hours: 42,050. OMB Number: 1545–1480. Type of Review: Extension without change of a currently approved collection. Title: REG–107047–00 (TD 8985— Final), Hedging Transactions. Abstract: The information is required by the IRS to aid it in administering the law and to prevent manipulation. The information will be used to verify that a taxpayer is properly reporting its business hedging transactions. Affected Public: Private Sector: Business or other for-profits. Estimated Total Burden Hours: 171,050. OMB Number: 1545–1504. Type of Review: Extension without change of a currently approved collection. Title: Application for Taxpayer Assistance Order (ATAO). Abstract: This form is used by taxpayers to apply for relief from a significant hardship which may have already occurred or is about to occur if the IRS takes or fails to take certain actions. This form is submitted to the IRS Taxpayer Advocate Office in the state or city where the taxpayer lives. Affected Public: Individuals or Households. Estimated Total Burden Hours: 46,500. OMB Number: 1545–1510. Type of Review: Extension without change of a currently approved collection. Title: Revenue Procedure 2004–53; Procedure for filing Forms W–2 is certain Acquisitions (Rev Proc. 96–60). Abstract: Information is required by the Internal Revenue Service to assist predecessor and successor employers in complying with the reporting requirements under Code sections 6051 and 6011 for Forms W–2 and 941. Affected Public: Private Sector: Business or other for-profits. Estimated Total Burden Hours: 110,700. OMB Number: 1545–1531. Type of Review: Extension without change of a currently approved collection. Title: Notice 97–19 and Notice 98–34 Guidance for Expatriates Under Sections 877, 2501, 2107, and 6039F. Abstract: Notice 97–19 and Notice 98–34 provide guidance for individuals affected by amendments to Code sections 877, 2107, and 2501, as amended by the Health Insurance Portability and Accountability Act. These notices also provide guidance on Code section 6039F. Affected Public: Individuals or Households. E:\FR\FM\30AUN1.SGM 30AUN1 mstockstill on DSK4VPTVN1PROD with NOTICES Federal Register / Vol. 77, No. 169 / Thursday, August 30, 2012 / Notices Estimated Total Burden Hours: 6,525. OMB Number: 1545–1533. Type of Review: Extension without change of a currently approved collection. Title: Revenue Procedure 97–22–26 CFR 601.105 Examination of returns and claims for refund, credits, or abatement, determination of correct tax liability. Abstract: The information requested in Revenue Procedure 97–22 under sections 4 and 5 is required to ensure that records maintained in an electronic storage system will constitute records within the meaning of section 6001. Affected Public: Private Sector: Business or other for-profits. Estimated Total Burden Hours: 1,000,400. OMB Number: 1545–1540. Type of Review: Extension without change of currently approved collection. Title: REG–125071–06 (TD 9308)— Reporting Requirements for Widely Held Fixed Investment Trusts (TD 9308), previously (TD 9279) Abstract: The regulations clarify the reporting requirements of trustees and middlemen involved with widely held fixed investment trusts. Affected Public: Private Sector: Business or other for-profits. Estimated Total Burden Hours: 2,400. OMB Number: 1545–1617. Type of Review: Extension without change of currently approved collection. Title: REG–124069–02 (Final) Section 6038—Returns Required with Respect to Controlled Foreign Partnerships; REG– 118966–97 (Final) Information Reporting with Respect to Certain Foreign Partnership. Abstract: REG–124069–02 Treasury Regulation Sec. 1.6038–3 requires certain United States persons who own interests in controlled foreign partnership to annually report information to the IRS on Form 8865. This regulation amends the reporting rules under Treasury Regulation section 1.6038–e to provide that a U.S. person must follow the filing requirements that are specified in the instructions for Form 8865 when the U.S. person must file Form 8865 and the foreign partnership completes and files Form 1065 or Form 1065–B. REG–118966–97 Section 6038 requires certain U.S. persons who own interest in controlled foreign partnerships. Affected Public: Private Sector: Business or other for-profits. Estimated Total Burden Hours: 500. OMB Number: 1545–1667. Type of Review: Extension without change of currently approved collection. Title: Revenue Procedure 99–50 Combined Information Reporting. Abstract: The revenue procedure permits combined information reporting VerDate Mar<15>2010 17:07 Aug 29, 2012 Jkt 226001 by a successor ‘‘business entity’’ (i.e., a corporation, partnership, or sole proprietorship) in certain situations following a merger or an acquisition. The successor must file a statement with the Internal Revenue Service indicating what forms are being filed on a combined basis. Affected Public: Private Sector: Business or other for-profits. Estimated Total Burden Hours: 500. OMB Number: 1545–1676. Type of Review: Extension without change of currently approved collection. Title: REG–113572–99 (TD 8933) Qualified Transportation Fringe Benefits. Abstract: These regulations provide guidance to employers that provide qualified transportation fringe benefits under section 132(f), including guidance to employers that provide cash reimbursement for qualified transportation fringes and employers that offer qualified transportation fringes in lieu of compensation. Employers that provide cash reimbursement are required to keep records of documentation received from employees who receive reimbursement. Employers that offer qualified transportation fringes in lieu of compensation are required to keep records of employee compensation reduction elections. Affected Public: Private Sector: Business or other for-profits. Estimated Total Burden Hours: 12,968,728. OMB Number: 1545–1678. Type of Review: Extension without change of currently approved collection. Title: REG–161424–01 (Final), Information Reporting for Qualified Tuition and Related Expenses; Magnetic Media Filing Requirements for Information Returns; REC–105316–98 (Final) Information. Abstract: These regulations relate to the information reporting requirements in section 6050S of the Internal Revenue Code for payments of qualified tuition and related expenses and interest on qualified education loans. These regulations provide guidance to eligible education institutions, insurers, and payees required to file information returns and to furnish information statements under section 6050S. Affected Public: Private Sector: Notfor-profit institutions. Estimated Total Burden Hours: 1. OMB Number: 1545–1684. Type of Review: Extension without change of currently approved collection. Title: Revenue Procedure 2009–14, Prefiling Agreements Program (Superseded 2007–17). Abstract: Revenue Procedure 2009–14 permits a taxpayer under the PO 00000 Frm 00112 Fmt 4703 Sfmt 4703 52787 jurisdiction of the Large and Mid-Size Business Division to request that the Service examines specific issues relating to tax returns before those returns are filed. This revenue procedure provides the framework within which a taxpayer and the Service may work together in a cooperative environment to resolve, after examination, issues accepted into the program. Affected Public: Private Sector: Businesses or other for-profits. Estimated Total Burden Hours: 13,134. OMB Number: 1545–1810. Type of Review: Extension without change of currently approved collection. Title: Credit for Small Employer Pension Plan Startup Costs. Form: 8881. Abstract: Qualified small employers use Form 8881 to request a credit for start-up costs related to eligible retirement plans. Form 8881 implements section 45E, which provides a credit based on costs incurred by an employer in establishing or administering an eligible employer plan or for the retirement related education of employees with respect to the plan. The credit is 50% of the qualified costs for the tax year, up to a maximum credit of $500 for the first tax year and each of the two subsequent tax years. Affected Public: Private Sector: Businesses or other for-profits. Estimated Total Burden Hours: 235,335. OMB Number: 1545–1815. Type of Review: Extension without change of currently approved collection. Title: Coverdell ESA Contribution Information. Form: 5498–ESA. Abstract: Form 5498–ESA is used by trustees and issuers of Coverdell Education Savings accounts to report contributions made to these accounts to beneficiaries. Affected Public: Private Sector: Businesses or other for-profits. Estimated Total Burden Hours: 18,000. OMB Number: 1545–1824. Type of Review: Extension without change of currently approved collection. Title: REG–139768–02 (Final) Excise Tax Relating to Structured Settlement Factoring Transactions. Abstract: The regulations provide rules relating to the manner and method of reporting and paying the 40 percent excise tax imposed by section 5891 of the Internal Revenue Code with respect to acquiring of structured payment rights in a structured settlement factoring transaction. Affected Public: Private Sector: Businesses or other for-profits. E:\FR\FM\30AUN1.SGM 30AUN1 mstockstill on DSK4VPTVN1PROD with NOTICES 52788 Federal Register / Vol. 77, No. 169 / Thursday, August 30, 2012 / Notices Estimated Total Burden Hours: 2. OMB Number: 1545–1843. Type of Review: Extension without change of currently approved collection. Title: TD 9207 (final)—Assumptions of Partner Liabilities; REG–106736–00 (NPRM). Abstract: In order to be entitled to a deduction with respect to the economic performance of a contingent liability that was contributed by a partner and assumed by a partnership, the partner, or former partner of the partnership, must receive notification of economic performance of the contingent liability from the partnership or other partner assuming the liability. Affected Public: Private Sector: Businesses or other for-profits. Estimated Total Burden Hours: 125. OMB Number: 1545–1968. Type of Review: Extension without change of currently approved collection. Title: Alternative Tax on Qualifying Shipping Activities. Form: 8902. Abstract: Form 8902 is used to elect the alternative tax on notional income from qualifying shipping activities and to figure the alternative tax. Affected Public: Private Sector: Businesses or other for-profits. Estimated Total Burden Hours: 3,056. OMB Number: 1545–1980. Type of Review: Extension without change of currently approved collection. Title: Notice 2007–70—Charitable Contributions of Certain Motor Vehicles, Boats, and Airplanes (Reporting requirements under Sec. 170(f)(12)(D)). Abstract: Charitable organizations are required to send an acknowledgement of car donations to the donor and to the Service. The purpose of is to prevent donors from taking inappropriate deductions. Affected Public: Private Sector: Notfor-profit institutions. Estimated Total Burden Hours: 21,930. OMB Number: 1545–1982. Type of Review: Extension without change of currently approved collection. Title: Distilled Spirits Credit. Form: 8906. Abstract: Form 8906, Distilled Spirits Credit, was developed to carry out the provisions of IRC section 5011(a). This section allows eligible wholesalers and persons subject to IRC section 5055 an income tax credit for the average cost of carrying excise tax on bottled distilled spirits. The form provides a means for the eligible taxpayer to compute the amount of credit. Affected Public: Private Sector: Businesses or other for-profits. Estimated Total Burden Hours: 558. OMB Number: 1545–1994. VerDate Mar<15>2010 17:07 Aug 29, 2012 Jkt 226001 Type of Review: Extension without change of currently approved collection. Title: Notice 2008–36: Amplification of Notice 2006–28 Energy Efficient Homes Credit; Manufactured Homes. Abstract: This notice supersedes Notice 2006–28 by substantially republishing the guidance contained in that publication. This notice clarifies the meaning of the terms equivalent rating network and eligible contractor, and permits calculation procedures other than those identified in Notice 2006–28 to be used to calculate energy consumption. Finally, this notice clarifies the process for removing software from the list of approved software and reflects the extension of the tax credit through December 31, 2008. Notice 2006–28, as updated, provided guidance regarding the calculation of heating and cooling energy consumption for purposes of determining the eligibility of a manufactured home for the New Energy Efficient Home Credit under Internal Revenue Code § 45L. Notice 2006–28 also provided guidance relating to the public list of software programs that may be used to calculate energy consumption. Guidance relating to dwelling units other than manufactured homes is provided in Notice 2008–35. Affected Public: Individuals and Households. Estimated Total Burden Hours: 60. OMB Number: 1545–2071. Type of Review: Extension without change of currently approved collection. Title: TE/GE Compliance Check Questionnaires. Abstract: Compliance questionnaires are an invaluable tool for obtaining supplemental information to determine the compliance of specific entities without the burden for the taxpayer or the cost to the IRS of a traditional, fullscale audit. The information collected will be used to improve the quality of data available for monitoring compliance, to correct identified instances of non-compliance and to determine where additional guidance, education or enforcement resources are most needed to prevent future noncompliance. Affected Public: Private Sector: Notfor-profit institutions. Estimated Total Burden Hours: 37,500. OMB Number: 1545–2109. Type of Review: Extension without change of currently approved collection. Title: Notice of Election of an Agreement to Special Lien Under Internal Revenue Code Section 6324A and Regulations. Form: 13925. PO 00000 Frm 00113 Fmt 4703 Sfmt 4703 Abstract: TD 7941: Internal Revenue Code section 6324A permits the executor of a decedent’s estate to elect a lien on section 6166 property in favor of the United States in lieu of a bond or personal liability if an election under section 6166 was made and the executor files an agreement under section 6324A(c). This regulation clarifies the procedures for complying with the statutory requirements. Form 13925: Under IRC section 6166, an estate may elect to pay the estate tax in installments over 14 years if certain conditions are met. If the IRS determines that the government’s interest in collecting estate tax is sufficiently at risk, it may require the estate provide a bond. Alternatively, the executor may elect to provide a lien in lieu of bond. Under section 6324A(c) and the regulations there under (OMB 1545–0757), to make this election the executor must submit a lien agreement to the IRS. Form 13925 is a form lien agreement that executors may use for this purpose. Affected Public: Individuals or Households. Estimated Total Burden Hours: 510. OMB Number: 1545–2119. Type of Review: Extension without change of currently approved collection. Title: Notice 2008–79, Tax-exempt Housing Bonds and 2008 Housing Legislation. Abstract: This notice provides guidance regarding certain provisions affecting tax-exempt bonds and related matters under the Housing Assistance Tax Act of 2008, Division C of Public Law 110–289, enacted on July 30, 2008 (‘‘2008 Housing Act’’). Section 3021 of the 2008 Housing Act amends §§ 143 and 146 of the Internal Revenue Code (‘‘Code’’) to provide a temporary $11 billion increase in the annual private activity bond volume cap under § 146 for qualified housing issues and to allow the use of qualified mortgage bonds to refinance certain subprime mortgage loans. (Except as otherwise provided, section references in this notice are to the Code.) This notice provides guidance on allocations, carryforwards, information reporting, and uses of this additional bond volume cap, and guidance on the use of qualified mortgage revenue bonds to refinance certain subprime mortgage loans. In addition, § 3005 of the 2008 Housing Act amends § 142(d)(2)of the Code to disregard basic housing allowance payments to military members at certain military bases for purposes of applicable low-income set-aside income limitations under § 42 and § 142. This notice lists certain affected military bases. Section 3023 of the 2008 Housing Act provides E:\FR\FM\30AUN1.SGM 30AUN1 Federal Register / Vol. 77, No. 169 / Thursday, August 30, 2012 / Notices temporary authority to Federal Home Loan Banks to guarantee certain taxexempt bonds. This notice provides guidance on tax-exempt bonds eligible for such guarantees. Affected Public: State, Local, and Tribal Governments. Estimated Total Burden Hours: 300. OMB Number: 1545–2131. Type of Review: Extension without change of currently approved collection. Title: Application for Extension of Time for Payment of Tax. Form: 1127, 1127–A. Abstract: Under IRC 6161, individual taxpayers and business taxpayers are allowed to request an extension of time for payment of tax shown or required to be shown on a return or for a tax due on a notice of deficiency. In order to be granted this extension, they must file Form 1127, providing evidence of undue hardship, inability to borrow, and collateral to ensure payment of the tax. Under IRC 6161 and the Service’s Fresh Start initiative, individual taxpayers are allowed to request an extension of time for payment of tax shown or required to be shown on a return for 2011. In order to be granted this extension, they must file Form 1127–A, self-certifying hardship due to the current economic downturn. Affected Public: Private Sector: Businesses or other for-profits. Estimated Total Burden Hours: 8,680. OMB Number: 1545–2132. Type of Review: Extension without change of currently approved collection. Title: Carbon Dioxide Sequestration Credit. Form: 8933. Abstract: Form 8933 will provide a standardized format to claim this credit to an eligible person that captures, after October 3, 2008, qualified carbon dioxide at a qualified facility and physically or contractually ensures the disposal of or the use as a tertiary injectant of the qualified carbon dioxide. Affected Public: Private Sector: Businesses or other for-profits. Estimated Total Burden Hours: 215. Robert Dahl, Treasury PRA Clearance Officer. mstockstill on DSK4VPTVN1PROD with NOTICES [FR Doc. 2012–21402 Filed 8–29–12; 8:45 am] BILLING CODE 4830–01–P VerDate Mar<15>2010 17:07 Aug 29, 2012 Jkt 226001 DEPARTMENT OF THE TREASURY Submission for OMB Review; Comment Request August 27, 2012. The Department of the Treasury will submit the following information collection request to the Office of Management and Budget (OMB) for review and clearance in accordance with the Paperwork Reduction Act of 1995, Public Law 104–13, on or after the date of publication of this notice. DATES: Comments should be received on or before October 1, 2012 to be assured of consideration. ADDRESSES: Send comments regarding the burden estimate, or any other aspect of the information collection, including suggestion for reducing the burden, to (1) Office of Information and Regulatory Affairs, Office of Management and Budget, Attention: Desk Officer for Treasury, New Executive Office Building, Room 10235, Washington, DC 20503, or email at OIRA_Submission@OMB.EOP.GOV and (2) Treasury PRA Clearance Officer, 1750 Pennsylvania Ave. NW., Suite 8140, Washington, DC 20220, or on-line at www.PRAComment.gov. FOR FURTHER INFORMATION CONTACT: Copies of the submission(s) may be obtained by calling (202) 927–5331, email at PRA@treasury.gov, or the entire information collection request maybe found at www.reginfo.gov. Office of Foreign Assets Control (OFAC) OMB Number: 1505–0170. Type of Review: Revision of a currently approved collection. Title: OFAC Application for the Release of Blocked Funds. Form: TD–F–90–22.54. Abstract: Transactions prohibited pursuant to the Trading With the Enemy Act, 50 U.S.C. App. 1–44, the International Emergency Economic Powers Act, 50 U.S.C. 1701 et seq., and other authorities may be authorized by means of specific licenses issued by the Office of Foreign Assets Control (‘‘OFAC’’). Such licenses are issued in response to applications submitted by persons whose property and interests in property have been blocked or who wish to engage in transactions that would otherwise be prohibited. The OFAC Application for the Release of PO 00000 Frm 00114 Fmt 4703 Sfmt 9990 52789 Blocked Funds, which provides a standardized method of application for all applicants seeking the unblocking of funds, is available in electronic format on OFAC’s Web site. Use of the form greatly facilitates and speeds applicants’ submissions and OFAC’s processing of such applications. By obviating the need for applicants to write lengthy letters to OFAC, this form reduces the overall burden of the application process. Since February 2000, use of the OFAC Application for the Release of Blocked Funds to apply for the unblocking of funds has been mandatory pursuant to a revision in OFAC’s regulations at 31 CFR 501.801. Affected Public: Private Sector: businesses or other for-profits. Estimated Total Annual Burden Hours: 1,500. OMB Number: 1505–0243. Type of Review: Extension without change of a currently approved collection. Title: Iranian Financial Sanctions Regulations Report on Closure by U.S. Financial Institutions of Correspondent Accounts and Payable-Through Accounts. Abstract: Section 561.504(b) of the Iranian Financial Sanctions Regulations, 31 CFR part 561 (the ‘‘IFSR’’), specifies that a U.S. financial institution that maintained a correspondent account or payable-through account for a foreign financial institution whose name is added to the Part 561 List on OFAC’s Web site (www.treasury.gov/ofac) as subject to a prohibition on the maintaining of such accounts must file a report with OFAC that provides full details on the closing of each such account within 30 days of the closure of the account. This collection of information assists in verifying that U.S. financial institutions are complying with prohibitions on maintaining correspondent accounts or payable through accounts for foreign financial institutions listed on the Part 561 List. Affected Public: Private Sector: businesses or other for-profits. Estimated Total Annual Burden Hours: 2. Robert Dahl, Treasury PRA Clearance Officer. [FR Doc. 2012–21406 Filed 8–29–12; 8:45 am] BILLING CODE 4810–25–P E:\FR\FM\30AUN1.SGM 30AUN1

Agencies

[Federal Register Volume 77, Number 169 (Thursday, August 30, 2012)]
[Notices]
[Pages 52785-52789]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-21402]


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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

August 27, 2012.
    The Department of the Treasury will submit the following 
information collection request to the Office of Management and Budget 
(OMB) for review and clearance in accordance with the Paperwork 
Reduction Act of 1995, Public Law 104-13, on or after the date of 
publication of this notice.

DATES: Comments should be received on or before October 1, 2012 to be 
assured of consideration.

ADDRESSES: Send comments regarding the burden estimate, or any other 
aspect of the information collection, including suggestion for reducing 
the burden, to (1) Office of Information and Regulatory Affairs, Office 
of Management and Budget, Attention: Desk Officer for Treasury, New 
Executive Office Building, Room 10235, Washington, DC 20503, or email 
at OIRA_Submission@OMB.EOP.GOV and (2) Treasury PRA Clearance Officer, 
1750 Pennsylvania Ave. NW., Suite 8140, Washington, DC 20220, or email 
at PRA@treasury.gov.

FOR FURTHER INFORMATION CONTACT: Copies of the submission(s) may be 
obtained by calling (202) 927-5331, email at PRA@treasury.gov, or the 
entire

[[Page 52786]]

information collection request maybe found at www.reginfo.gov.

Internal Revenue Service (IRS)

    OMB Number: 1545-0169.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Form 4461, Application for Approval of Master or Prototype 
Defined Contribution Plan; Form 4461-A, Application for Approval of 
Master or Prototype Defined Benefit Plan; Form 4461-B, Application for 
Approval of Master or Prototype or Volume Submitter Plans.
    Form: Forms 4461, 4461-A, 4461-B.
    Abstract: The IRS uses these forms to determine from the 
information submitted whether the applicant plan qualifies under 
section 401(a) of the Internal Revenue Code for plan approval. The 
application is also used to determine if the related trust qualifies 
for tax exempt status under Code section 501(a).
    Affected Public: Private Sector: Business or other for-profits.
    Estimated Total Burden Hours: 65,765.
    OMB Number: 1545-0202.
    Type of Review: Revision of a currently approved collection.
    Title: Form 5310, Application for Determination for Terminating 
Plan; Form 6088, Distributable Benefits from Employee Pension Benefit 
Plans.
    Form: 5310, 6088.
    Abstract: Employers who have qualified deferred compensation plans 
can take an income tax deduction for contributions to their plans. IRS 
uses the data on Forms 5310 and 6088 to determine whether a plan still 
qualifies and whether there is any discrimination in benefits.
    Affected Public: Private Sector: Business or other for-profits.
    Estimated Total Burden Hours: 1,718,300.
    OMB Number: 1545-0770.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: FI-182-78 (NPRM)--Transfers of Securities Under Certain 
Agreements.
    Abstract: Section 1058 of the Internal Revenue Code provides tax-
free treatment for transfers of securities pursuant to a securities 
lending agreement. The agreement must be in writing and is used by the 
taxpayer, in a tax audit situation, to justify no recognition treatment 
of gain or loss on the exchange of the securities.
    Affected Public: Private Sector: Business or other for-profits.
    Estimated Total Burden Hours: 9,781.
    OMB Number: 1545-0919.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Limitations on Percentage Depletion in the Case of Oil and 
Gas Wells (PS-105-75) Final.
    Abstract: The regulations require each partner to separately keep 
records of his share of the adjusted basis of partnership oil and gas 
property and require each partnership, trusts, estate, and operator to 
provide information necessary to certain persons to compute depletion 
with respect to oil and gas.
    Affected Public: Private Sector: Business or other for-profits.
    Estimated Total Burden Hours: 1.
    OMB Number: 1545-1049.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: IA-7-88, (T.D. 8379) Excise Tax Relating to Gain or Other 
Income Realized by Any Person on Receipt of Greenmail.
    Abstract: The final regulations provide rules relating to the 
manner and method of reporting and paying the nondeductible 50 percent 
tax imposed by section 5881 of the Internal Revenue Code with respect 
to the receipt of greenmail.
    Affected Public: Private Sector: Business or other for-profits.
    Estimated Total Burden Hours: 2.
    OMB Number: 1545-1233.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Adjusted Current Earnings (IA-14-91)(Final).
    Abstract: This regulation affects business and other for profit 
institutions. This information is required by the IRS to ensure the 
proper application of section 1.56(g)-1 of the regulation. It will be 
used to verify that taxpayers have properly elected the benefits of 
section 1.56(g)-1(r) of the regulation.
    Affected Public: Private Sector: Business or other for-profits.
    Estimated Total Burden Hours: 1,000.
    OMB Number: 1545-1347.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: FI-7-94 and FI-36-92 (Final) Arbitrage Restrictions on Tax-
Exempt Bonds.
    Abstract: The Code limits the ability of state and local government 
issuers of tax-exempt bonds to earn and/or keep arbitrage profits 
earned with bond proceeds. This regulation requires recordkeeping of 
certain interest rate hedges so that the hedges are taken into account 
in determining those profits.
    Affected Public: State, Local and Tribal Governments.
    Estimated Total Burden Hours: 42,050.
    OMB Number: 1545-1480.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: REG-107047-00 (TD 8985--Final), Hedging Transactions.
    Abstract: The information is required by the IRS to aid it in 
administering the law and to prevent manipulation. The information will 
be used to verify that a taxpayer is properly reporting its business 
hedging transactions.
    Affected Public: Private Sector: Business or other for-profits.
    Estimated Total Burden Hours: 171,050.
    OMB Number: 1545-1504.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Application for Taxpayer Assistance Order (ATAO).
    Abstract: This form is used by taxpayers to apply for relief from a 
significant hardship which may have already occurred or is about to 
occur if the IRS takes or fails to take certain actions. This form is 
submitted to the IRS Taxpayer Advocate Office in the state or city 
where the taxpayer lives.
    Affected Public: Individuals or Households.
    Estimated Total Burden Hours: 46,500.
    OMB Number: 1545-1510.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Revenue Procedure 2004-53; Procedure for filing Forms W-2 is 
certain Acquisitions (Rev Proc. 96-60).
    Abstract: Information is required by the Internal Revenue Service 
to assist predecessor and successor employers in complying with the 
reporting requirements under Code sections 6051 and 6011 for Forms W-2 
and 941.
    Affected Public: Private Sector: Business or other for-profits.
    Estimated Total Burden Hours: 110,700.
    OMB Number: 1545-1531.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Notice 97-19 and Notice 98-34 Guidance for Expatriates Under 
Sections 877, 2501, 2107, and 6039F.
    Abstract: Notice 97-19 and Notice 98-34 provide guidance for 
individuals affected by amendments to Code sections 877, 2107, and 
2501, as amended by the Health Insurance Portability and Accountability 
Act. These notices also provide guidance on Code section 6039F.
    Affected Public: Individuals or Households.

[[Page 52787]]

    Estimated Total Burden Hours: 6,525.
    OMB Number: 1545-1533.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Revenue Procedure 97-22-26 CFR 601.105 Examination of 
returns and claims for refund, credits, or abatement, determination of 
correct tax liability.
    Abstract: The information requested in Revenue Procedure 97-22 
under sections 4 and 5 is required to ensure that records maintained in 
an electronic storage system will constitute records within the meaning 
of section 6001.
    Affected Public: Private Sector: Business or other for-profits.
    Estimated Total Burden Hours: 1,000,400.
    OMB Number: 1545-1540.
    Type of Review: Extension without change of currently approved 
collection.
    Title: REG-125071-06 (TD 9308)--Reporting Requirements for Widely 
Held Fixed Investment Trusts (TD 9308), previously (TD 9279)
    Abstract: The regulations clarify the reporting requirements of 
trustees and middlemen involved with widely held fixed investment 
trusts.
    Affected Public: Private Sector: Business or other for-profits.
    Estimated Total Burden Hours: 2,400.
    OMB Number: 1545-1617.
    Type of Review: Extension without change of currently approved 
collection.
    Title: REG-124069-02 (Final) Section 6038--Returns Required with 
Respect to Controlled Foreign Partnerships; REG-118966-97 (Final) 
Information Reporting with Respect to Certain Foreign Partnership.
    Abstract: REG-124069-02 Treasury Regulation Sec. 1.6038-3 requires 
certain United States persons who own interests in controlled foreign 
partnership to annually report information to the IRS on Form 8865. 
This regulation amends the reporting rules under Treasury Regulation 
section 1.6038-e to provide that a U.S. person must follow the filing 
requirements that are specified in the instructions for Form 8865 when 
the U.S. person must file Form 8865 and the foreign partnership 
completes and files Form 1065 or Form 1065-B. REG-118966-97 Section 
6038 requires certain U.S. persons who own interest in controlled 
foreign partnerships.
    Affected Public: Private Sector: Business or other for-profits.
    Estimated Total Burden Hours: 500.
    OMB Number: 1545-1667.
    Type of Review: Extension without change of currently approved 
collection.
    Title: Revenue Procedure 99-50 Combined Information Reporting.
    Abstract: The revenue procedure permits combined information 
reporting by a successor ``business entity'' (i.e., a corporation, 
partnership, or sole proprietorship) in certain situations following a 
merger or an acquisition. The successor must file a statement with the 
Internal Revenue Service indicating what forms are being filed on a 
combined basis.
    Affected Public: Private Sector: Business or other for-profits.
    Estimated Total Burden Hours: 500.
    OMB Number: 1545-1676.
    Type of Review: Extension without change of currently approved 
collection.
    Title: REG-113572-99 (TD 8933) Qualified Transportation Fringe 
Benefits.
    Abstract: These regulations provide guidance to employers that 
provide qualified transportation fringe benefits under section 132(f), 
including guidance to employers that provide cash reimbursement for 
qualified transportation fringes and employers that offer qualified 
transportation fringes in lieu of compensation. Employers that provide 
cash reimbursement are required to keep records of documentation 
received from employees who receive reimbursement. Employers that offer 
qualified transportation fringes in lieu of compensation are required 
to keep records of employee compensation reduction elections.
    Affected Public: Private Sector: Business or other for-profits.
    Estimated Total Burden Hours: 12,968,728.
    OMB Number: 1545-1678.
    Type of Review: Extension without change of currently approved 
collection.
    Title: REG-161424-01 (Final), Information Reporting for Qualified 
Tuition and Related Expenses; Magnetic Media Filing Requirements for 
Information Returns; REC-105316-98 (Final) Information.
    Abstract: These regulations relate to the information reporting 
requirements in section 6050S of the Internal Revenue Code for payments 
of qualified tuition and related expenses and interest on qualified 
education loans. These regulations provide guidance to eligible 
education institutions, insurers, and payees required to file 
information returns and to furnish information statements under section 
6050S.
    Affected Public: Private Sector: Not-for-profit institutions.
    Estimated Total Burden Hours: 1.
    OMB Number: 1545-1684.
    Type of Review: Extension without change of currently approved 
collection.
    Title: Revenue Procedure 2009-14, Prefiling Agreements Program 
(Superseded 2007-17).
    Abstract: Revenue Procedure 2009-14 permits a taxpayer under the 
jurisdiction of the Large and Mid-Size Business Division to request 
that the Service examines specific issues relating to tax returns 
before those returns are filed. This revenue procedure provides the 
framework within which a taxpayer and the Service may work together in 
a cooperative environment to resolve, after examination, issues 
accepted into the program.
    Affected Public: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 13,134.
    OMB Number: 1545-1810.
    Type of Review: Extension without change of currently approved 
collection.
    Title: Credit for Small Employer Pension Plan Startup Costs.
    Form: 8881.
    Abstract: Qualified small employers use Form 8881 to request a 
credit for start-up costs related to eligible retirement plans. Form 
8881 implements section 45E, which provides a credit based on costs 
incurred by an employer in establishing or administering an eligible 
employer plan or for the retirement related education of employees with 
respect to the plan. The credit is 50% of the qualified costs for the 
tax year, up to a maximum credit of $500 for the first tax year and 
each of the two subsequent tax years.
    Affected Public: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 235,335.
    OMB Number: 1545-1815.
    Type of Review: Extension without change of currently approved 
collection.
    Title: Coverdell ESA Contribution Information.
    Form: 5498-ESA.
    Abstract: Form 5498-ESA is used by trustees and issuers of 
Coverdell Education Savings accounts to report contributions made to 
these accounts to beneficiaries.
    Affected Public: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 18,000.
    OMB Number: 1545-1824.
    Type of Review: Extension without change of currently approved 
collection.
    Title: REG-139768-02 (Final) Excise Tax Relating to Structured 
Settlement Factoring Transactions.
    Abstract: The regulations provide rules relating to the manner and 
method of reporting and paying the 40 percent excise tax imposed by 
section 5891 of the Internal Revenue Code with respect to acquiring of 
structured payment rights in a structured settlement factoring 
transaction.
    Affected Public: Private Sector: Businesses or other for-profits.

[[Page 52788]]

    Estimated Total Burden Hours: 2.
    OMB Number: 1545-1843.
    Type of Review: Extension without change of currently approved 
collection.
    Title: TD 9207 (final)--Assumptions of Partner Liabilities; REG-
106736-00 (NPRM).
    Abstract: In order to be entitled to a deduction with respect to 
the economic performance of a contingent liability that was contributed 
by a partner and assumed by a partnership, the partner, or former 
partner of the partnership, must receive notification of economic 
performance of the contingent liability from the partnership or other 
partner assuming the liability.
    Affected Public: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 125.
    OMB Number: 1545-1968.
    Type of Review: Extension without change of currently approved 
collection.
    Title: Alternative Tax on Qualifying Shipping Activities.
    Form: 8902.
    Abstract: Form 8902 is used to elect the alternative tax on 
notional income from qualifying shipping activities and to figure the 
alternative tax.
    Affected Public: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 3,056.
    OMB Number: 1545-1980.
    Type of Review: Extension without change of currently approved 
collection.
    Title: Notice 2007-70--Charitable Contributions of Certain Motor 
Vehicles, Boats, and Airplanes (Reporting requirements under Sec. 
170(f)(12)(D)).
    Abstract: Charitable organizations are required to send an 
acknowledgement of car donations to the donor and to the Service. The 
purpose of is to prevent donors from taking inappropriate deductions.
    Affected Public: Private Sector: Not-for-profit institutions.
    Estimated Total Burden Hours: 21,930.
    OMB Number: 1545-1982.
    Type of Review: Extension without change of currently approved 
collection.
    Title: Distilled Spirits Credit.
    Form: 8906.
    Abstract: Form 8906, Distilled Spirits Credit, was developed to 
carry out the provisions of IRC section 5011(a). This section allows 
eligible wholesalers and persons subject to IRC section 5055 an income 
tax credit for the average cost of carrying excise tax on bottled 
distilled spirits. The form provides a means for the eligible taxpayer 
to compute the amount of credit.
    Affected Public: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 558.
    OMB Number: 1545-1994.
    Type of Review: Extension without change of currently approved 
collection.
    Title: Notice 2008-36: Amplification of Notice 2006-28 Energy 
Efficient Homes Credit; Manufactured Homes.
    Abstract: This notice supersedes Notice 2006-28 by substantially 
republishing the guidance contained in that publication. This notice 
clarifies the meaning of the terms equivalent rating network and 
eligible contractor, and permits calculation procedures other than 
those identified in Notice 2006-28 to be used to calculate energy 
consumption. Finally, this notice clarifies the process for removing 
software from the list of approved software and reflects the extension 
of the tax credit through December 31, 2008. Notice 2006-28, as 
updated, provided guidance regarding the calculation of heating and 
cooling energy consumption for purposes of determining the eligibility 
of a manufactured home for the New Energy Efficient Home Credit under 
Internal Revenue Code Sec.  45L. Notice 2006-28 also provided guidance 
relating to the public list of software programs that may be used to 
calculate energy consumption. Guidance relating to dwelling units other 
than manufactured homes is provided in Notice 2008-35.
    Affected Public: Individuals and Households.
    Estimated Total Burden Hours: 60.
    OMB Number: 1545-2071.
    Type of Review: Extension without change of currently approved 
collection.
    Title: TE/GE Compliance Check Questionnaires.
    Abstract: Compliance questionnaires are an invaluable tool for 
obtaining supplemental information to determine the compliance of 
specific entities without the burden for the taxpayer or the cost to 
the IRS of a traditional, full-scale audit. The information collected 
will be used to improve the quality of data available for monitoring 
compliance, to correct identified instances of non-compliance and to 
determine where additional guidance, education or enforcement resources 
are most needed to prevent future non-compliance.
    Affected Public: Private Sector: Not-for-profit institutions.
    Estimated Total Burden Hours: 37,500.
    OMB Number: 1545-2109.
    Type of Review: Extension without change of currently approved 
collection.
    Title: Notice of Election of an Agreement to Special Lien Under 
Internal Revenue Code Section 6324A and Regulations.
    Form: 13925.
    Abstract: TD 7941: Internal Revenue Code section 6324A permits the 
executor of a decedent's estate to elect a lien on section 6166 
property in favor of the United States in lieu of a bond or personal 
liability if an election under section 6166 was made and the executor 
files an agreement under section 6324A(c). This regulation clarifies 
the procedures for complying with the statutory requirements. Form 
13925: Under IRC section 6166, an estate may elect to pay the estate 
tax in installments over 14 years if certain conditions are met. If the 
IRS determines that the government's interest in collecting estate tax 
is sufficiently at risk, it may require the estate provide a bond. 
Alternatively, the executor may elect to provide a lien in lieu of 
bond. Under section 6324A(c) and the regulations there under (OMB 1545-
0757), to make this election the executor must submit a lien agreement 
to the IRS. Form 13925 is a form lien agreement that executors may use 
for this purpose.
    Affected Public: Individuals or Households.
    Estimated Total Burden Hours: 510.
    OMB Number: 1545-2119.
    Type of Review: Extension without change of currently approved 
collection.
    Title: Notice 2008-79, Tax-exempt Housing Bonds and 2008 Housing 
Legislation.
    Abstract: This notice provides guidance regarding certain 
provisions affecting tax-exempt bonds and related matters under the 
Housing Assistance Tax Act of 2008, Division C of Public Law 110-289, 
enacted on July 30, 2008 (``2008 Housing Act''). Section 3021 of the 
2008 Housing Act amends Sec. Sec.  143 and 146 of the Internal Revenue 
Code (``Code'') to provide a temporary $11 billion increase in the 
annual private activity bond volume cap under Sec.  146 for qualified 
housing issues and to allow the use of qualified mortgage bonds to 
refinance certain subprime mortgage loans. (Except as otherwise 
provided, section references in this notice are to the Code.) This 
notice provides guidance on allocations, carryforwards, information 
reporting, and uses of this additional bond volume cap, and guidance on 
the use of qualified mortgage revenue bonds to refinance certain 
subprime mortgage loans. In addition, Sec.  3005 of the 2008 Housing 
Act amends Sec.  142(d)(2)of the Code to disregard basic housing 
allowance payments to military members at certain military bases for 
purposes of applicable low-income set-aside income limitations under 
Sec.  42 and Sec.  142. This notice lists certain affected military 
bases. Section 3023 of the 2008 Housing Act provides

[[Page 52789]]

temporary authority to Federal Home Loan Banks to guarantee certain 
tax-exempt bonds. This notice provides guidance on tax-exempt bonds 
eligible for such guarantees.
    Affected Public: State, Local, and Tribal Governments.
    Estimated Total Burden Hours: 300.
    OMB Number: 1545-2131.
    Type of Review: Extension without change of currently approved 
collection.
    Title: Application for Extension of Time for Payment of Tax.
    Form: 1127, 1127-A.
    Abstract: Under IRC 6161, individual taxpayers and business 
taxpayers are allowed to request an extension of time for payment of 
tax shown or required to be shown on a return or for a tax due on a 
notice of deficiency. In order to be granted this extension, they must 
file Form 1127, providing evidence of undue hardship, inability to 
borrow, and collateral to ensure payment of the tax. Under IRC 6161 and 
the Service's Fresh Start initiative, individual taxpayers are allowed 
to request an extension of time for payment of tax shown or required to 
be shown on a return for 2011. In order to be granted this extension, 
they must file Form 1127-A, self-certifying hardship due to the current 
economic downturn.
    Affected Public: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 8,680.
    OMB Number: 1545-2132.
    Type of Review: Extension without change of currently approved 
collection.
    Title: Carbon Dioxide Sequestration Credit.
    Form: 8933.
    Abstract: Form 8933 will provide a standardized format to claim 
this credit to an eligible person that captures, after October 3, 2008, 
qualified carbon dioxide at a qualified facility and physically or 
contractually ensures the disposal of or the use as a tertiary 
injectant of the qualified carbon dioxide.
    Affected Public: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 215.

Robert Dahl,
Treasury PRA Clearance Officer.
[FR Doc. 2012-21402 Filed 8-29-12; 8:45 am]
BILLING CODE 4830-01-P
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