Proposed Collection; Comment Request for Information Collection Tools, 61832-61833 [2012-24938]
Download as PDF
<![CDATA[
61832
Federal Register / Vol. 77, No. 197 / Thursday, October 11, 2012 / Notices
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment
Request for Information Collection
Tools
Internal Revenue Service (IRS),
Treasury.
ACTION: Notice and request for
comments.
AGENCY:
The Department of the
Treasury, as part of its continuing effort
to reduce paperwork and respondent
burden, invites the general public and
other Federal agencies to take this
opportunity to comment on proposed
and/or continuing information
collections, as required by the
Paperwork Reduction Act of 1995,
Public Law 104–13 (44 U.S.C.
3506(c)(2)(A)). Currently, the IRS is
soliciting comments concerning Notice
2009–85, Guidance for Expatriates and
Recipients of Foreign Source Gifts and
Bequests Under Sections 877A, 2801,
and 6039G; Form 1120–FSC, U.S.
Income Tax Return of a Foreign Sales
Corporation, and Schedule P (Form
1120–FSC), Transfer Price or
Commission; Form 8288–B, Application
for Withholding Certificate for
Dispositions by Foreign Persons of U.S.
Real Property Interests; PS–79–93 (TD
8633), Grantor Trust Reporting
Requirements (§ 1.674–4); and Form
8844, Empowerment Zone Employment
Credit.
DATES: Written comments should be
received on or before December 10, 2012
to be assured of consideration.
ADDRESSES: Direct all written comments
to Yvette Lawrence, Internal Revenue
Service, room 6129, 1111 Constitution
Avenue NW., Washington, DC 20224.
Please send separate comments for each
specific information collection listed
below. You must reference the
information collection’s title, form
number, reporting or record-keeping
requirement number, and OMB number
(if any) in your comment.
FOR FURTHER INFORMATION CONTACT:
Requests for additional information or
copies of the collection tools should be
directed to R. Joseph Durbala, Internal
Revenue Service, room 6129, 1111
Constitution Avenue NW., Washington,
DC 20224, or at (202)622–3634, or
through the internet at
RJoseph.Durbala@irs.gov.
pmangrum on DSK3VPTVN1PROD with NOTICES
SUMMARY:
Currently,
the IRS is seeking comments concerning
the following information collection
tools, reporting, and record-keeping
requirements:
SUPPLEMENTARY INFORMATION:
VerDate Mar<15>2010
14:03 Oct 10, 2012
Jkt 229001
(1) Title: Guidance for Expatriates and
Recipients of Foreign Source Gifts and
Bequests Under Sections 877A, 2801,
and 6039G.
OMB Number: 1545–2123.
Form Number: Notice 2009–85.
Abstract: Section 301 of the Heroes
Earnings Assistance and Relief Tax Act
of 2008 (the ‘‘Act’’) enacted new
sections 877A and 2801 of the Internal
Revenue Code (‘‘Code’’), amended
sections 6039G and 7701(a), made
conforming amendments to sections
877(e) and 7701(b), and repealed section
7701(n). This notice provides guidance
regarding certain federal tax
consequences under these sections for
individuals who renounce U.S.
citizenship or cease to be taxed as
lawful permanent residents of the
United States.
Current Actions: There are no changes
to the previously approved burden of
this existing collection.
Type of Review: Extension of a
currently approved collection.
Affected Public: Individuals or
households.
Estimated Number of Respondents:
100.
Estimated Time per Respondent: 4
hrs., 17 min.
Estimated Total Annual Burden
Hours: 420.
(2) Title: Form 1120–FSC, U.S.
Income Tax Return of a Foreign Sales
Corporation, and Schedule P (Form
1120–FSC), Transfer Price or
Commission.
OMB Number: 1545–0935.
Form Number: 1120–FSC and
Schedule P (Form 1120–FSC).
Abstract: Form 1120–FSC is filed by
foreign corporations that have elected to
be FSCs or small FSCs. The FSC uses
Form 1120–FSC to report income and
expenses and to figure its tax liability.
IRS uses Form 1120–FSC and Schedule
P (Form 1120–FSC) to determine
whether the FSC has correctly reported
its income and expenses and figured its
tax liability correctly.
Current Actions: There are no changes
being made to the revenue procedure at
this time.
Type of Review: Extension of a
currently approved collection.
Affected Public: Business or other forprofit organizations.
Estimated Number of Respondents:
30,000.
Estimated Time per Respondent: 165
hrs., 37 min.
Estimated Total Annual Reporting
Burden hours: 1,088,250.
(3) Title: Application for Withholding
Certificate for Dispositions by Foreign
Persons of U.S. Property Interests.
OMB Number: 1545–1060.
PO 00000
Frm 00097
Fmt 4703
Sfmt 4703
Form Number: 8288–B.
Abstract: Section 1445 of the Internal
Revenue Code requires transferees to
withhold tax on the amount realized
from sales or other dispositions by
foreign persons of U.S. real property
interests. Code sections 1445(b) and (c)
allow the withholding to be reduced or
eliminated under certain circumstances.
Form 8288–B is used to apply for a
withholding certificate from IRS to
reduce or eliminate the withholding
required by Code section 1445.
Current Actions: There is no change
in the paperwork burden previously
approved by OMB.
Type of Review: Extension of a
currently approved collection.
Affected Public: Business or other forprofit organizations and individuals or
households.
Estimated Number of Respondents:
5,079.
Estimated Time per Respondent: 6
hrs., 8 min.
Estimated Total Annual Burden
Hours: 31,135.
(4) Title: Grantor Trust Reporting
Requirements.
OMB Number: 1545–1442.
Form Number: PS–79–93.
Abstract: The information required by
these regulations is used by the Internal
Revenue Service to ensure that items of
income, deduction, and credit of a trust
as owned by a grantor or another person
are properly reported.
Current Actions: There is no change
in the paperwork burden previously
approved by OMB.
Type of Review: Extension of a
currently approved collection.
Affected Public: Business or other forprofit organizations and individuals or
households.
Estimated Number of Respondents:
1,840,000.
Estimated Time per Respondent: 30
min.
Estimated Total Annual Burden
Hours: 920,000.
(5) Title: Empowerment Zone
Employment Credit.
OMB Number: 1545–1444.
Form Number: 8844.
Abstract: Employers who hire
employees who live and work in one of
the eleven designated empowerment
zones can receive a tax credit for the
first $15,000 of wages paid to each
employee.
Current Actions: There is no change
in the paperwork burden previously
approved by OMB.
Type of Review: Extension of a
currently approved collection.
Affected Public: Business or other forprofit organizations, individuals or
households, farms and non-profit
institutions.
E:\FR\FM\11OCN1.SGM
11OCN1
Federal Register / Vol. 77, No. 197 / Thursday, October 11, 2012 / Notices
Estimated Number of Respondents:
40,000.
Estimated Time per Respondent: 8
hrs., 5 min.
Estimated Total Annual Burden
Hours: 237,600.
The following paragraph applies to all
of the collections of information covered
by this notice:
An agency may not conduct or
sponsor, and a person is not required to
respond to, a collection of information
unless the collection of information
displays a valid OMB control number.
Books or records relating to a collection
of information must be retained as long
as their contents may become material
in the administration of any internal
revenue law. Generally, tax returns and
tax return information are confidential,
as required by 26 U.S.C. 6103.
Request for Comments: Comments
submitted in response to this notice will
be summarized and/or included in the
request for OMB approval. All
comments will become a matter of
public record. Comments are invited on:
(a) Whether the collection of
information is necessary for the proper
performance of the functions of the
agency, including whether the
information shall have practical utility;
(b) the accuracy of the agency’s estimate
of the burden of the collection of
information; (c) ways to enhance the
quality, utility, and clarity of the
information to be collected; (d) ways to
minimize the burden of the collection of
information on respondents, including
through the use of automated collection
techniques or other forms of information
technology; and (e) estimates of capital
or start-up costs and costs of operation,
maintenance, and purchase of services
to provide information.
Approved: September 24, 2012.
R. Joseph Durbala,
IRS Reports Clearance Officer.
[FR Doc. 2012–24938 Filed 10–10–12; 8:45 am]
BILLING CODE 4830–01–P
Internal Revenue Service
pmangrum on DSK3VPTVN1PROD with NOTICES
Proposed Collection; Comment
Request for Information Collection
Tools
Internal Revenue Service (IRS),
Treasury.
ACTION: Notice and request for
comments.
AGENCY:
The Department of the
Treasury, as part of its continuing effort
to reduce paperwork and respondent
burden, invites the general public and
VerDate Mar<15>2010
14:03 Oct 10, 2012
Jkt 229001
Written comments should be
received on or before December 10, 2012
to be assured of consideration.
ADDRESSES: Direct all written comments
to Yvette Lawrence, Internal Revenue
Service, room 6129, 1111 Constitution
Avenue NW., Washington, DC 20224.
Please send separate comments for each
specific information collection listed
below. You must reference the
information collection’s title, form
number, reporting or record-keeping
requirement number, and OMB number
(if any) in your comment.
FOR FURTHER INFORMATION CONTACT:
Requests for additional information or
copies of the collection tools should be
directed to R. Joseph Durbala, Internal
Revenue Service, room 6129, 1111
Constitution Avenue NW., Washington,
DC 20224, or at (202) 622–3634, or
through the Internet at
RJoseph.Durbala@irs.gov.
DATES:
Currently,
the IRS is seeking comments concerning
the following information collection
tools, reporting, and record-keeping
requirements:
(1) Title: Employer’s Annual Federal
Unemployment (FUTA) Tax Return
(Form 940) and Planilla Para La
Declaracion Anual Del Patrono-La
Contribucion Federal Para El Desempleo
(FUTA) (Form 940–PR).
OMB Number: 1545–0028. Form
Number: 940 and 940–PR.
Abstract: Internal Revenue Code
section 3301 imposes a tax on
employers based on the first $7,000 of
SUPPLEMENTARY INFORMATION:
DEPARTMENT OF THE TREASURY
SUMMARY:
other Federal agencies to take this
opportunity to comment on proposed
and/or continuing information
collections, as required by the
Paperwork Reduction Act of 1995,
Public Law 104–13 (44 U.S.C.
3506(c)(2)(A)). Currently, the IRS is
soliciting comments concerning Form
940, Employer’s Annual Federal
Unemployment (FUTA) Tax Return, and
Form 940–PR, Planilla Para La
Declaracion Anual Del Patrono—La
Contribucion Federal Para El Desempleo
(FUTA); Form 990–PF, Return of Private
Foundation or Section 4947(a)(1)
Nonexempt charitable Trust Treated as
a Private Foundation, and Form 4720,
return of Certain Excise Taxes on
Charities and Other Persons Under
Chapters 41 and 42 of the Internal
revenue Code; Form 5227, Split-Interest
Trust Information Return; Revenue
Procedure 97–33, Electronic Federal Tax
Payment System (EFTPS); and TD 9338,
Information Returns Required with
Respect to Certain Foreign Corporations
and Certain Foreign-Owned Domestic
Corporations.
PO 00000
Frm 00098
Fmt 4703
Sfmt 4703
61833
taxable wages paid to each employee.
The tax is computed and reported on
Forms 940 and 940–PR (Puerto Rico
employers only). IRS uses the
information on Forms 940 and 940–PR
to ensure that employers have reported
and figured the correct FUTA wages and
tax.
Current Actions: There are no changes
to the previously approved burden of
this existing collection.
Type of Review: Extension of a
currently approved collection.
Affected Public: Businesses or other
for-profit organizations, individuals, or
households, and farms.
Estimated Number of Respondents:
1,573,920.
Estimated Time per Respondent: 57
hrs., 26 min.
Estimated Total Annual Burden
Hours: 90,403,900.
(2) Title: Form 990–PF, Return of
Private Foundation or Section 4947(a)(1)
Nonexempt charitable Trust Treated as
a Private Foundation, and Form 4720,
return of Certain Excise Taxes on
Charities and Other Persons Under
Chapters 41 and 42 of the Internal
revenue Code.
OMB Number: 1545–0052.
Form Number: 990–PF and 4720.
Abstract: Internal Revenue Code
section 6033 requires all private
foundations, including section
4947(a)(1) trusts treated as private
foundations, to file an annual
information return. Section 53.4940–
1(a) of the Income Tax Regulations
requires that the tax on net investment
income be reported on the return filed
under section 6033. Form 990–PF is
used for this purpose. Section 6011
requires a report of taxes under Chapter
42 of the Code for prohibited acts by
private foundations and certain related
parties. Form 4720 is used by
foundations and/or related persons to
report prohibited activities in detail and
pay the tax on them.
Current Actions: There are no changes
being made to the revenue procedure at
this time.
Type of Review: Extension of a
currently approved collection.
Affected Public: Not-for-profit
institutions.
Estimated Number of Respondents:
55,000.
Estimated Time per Respondent: 200
hrs., 58 min.
Estimated Total Annual Reporting
Burden hours: 11,052,594.
(3) Title: Split-Interest Trust
Information Return.
OMB Number: 1545–0196.
Form Number: 5227.
Abstract: Form 5227 is used to report
the financial activities of a split-interest
E:\FR\FM\11OCN1.SGM
11OCN1
]]>Agencies
[Federal Register Volume 77, Number 197 (Thursday, October 11, 2012)]
[Notices]
[Pages 61832-61833]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-24938]
[[Page 61832]]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment Request for Information Collection
Tools
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Notice and request for comments.
-----------------------------------------------------------------------
SUMMARY: The Department of the Treasury, as part of its continuing
effort to reduce paperwork and respondent burden, invites the general
public and other Federal agencies to take this opportunity to comment
on proposed and/or continuing information collections, as required by
the Paperwork Reduction Act of 1995, Public Law 104-13 (44 U.S.C.
3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning
Notice 2009-85, Guidance for Expatriates and Recipients of Foreign
Source Gifts and Bequests Under Sections 877A, 2801, and 6039G; Form
1120-FSC, U.S. Income Tax Return of a Foreign Sales Corporation, and
Schedule P (Form 1120-FSC), Transfer Price or Commission; Form 8288-B,
Application for Withholding Certificate for Dispositions by Foreign
Persons of U.S. Real Property Interests; PS-79-93 (TD 8633), Grantor
Trust Reporting Requirements (Sec. 1.674-4); and Form 8844,
Empowerment Zone Employment Credit.
DATES: Written comments should be received on or before December 10,
2012 to be assured of consideration.
ADDRESSES: Direct all written comments to Yvette Lawrence, Internal
Revenue Service, room 6129, 1111 Constitution Avenue NW., Washington,
DC 20224. Please send separate comments for each specific information
collection listed below. You must reference the information
collection's title, form number, reporting or record-keeping
requirement number, and OMB number (if any) in your comment.
FOR FURTHER INFORMATION CONTACT: Requests for additional information or
copies of the collection tools should be directed to R. Joseph Durbala,
Internal Revenue Service, room 6129, 1111 Constitution Avenue NW.,
Washington, DC 20224, or at (202)622-3634, or through the internet at
RJoseph.Durbala@irs.gov.
SUPPLEMENTARY INFORMATION: Currently, the IRS is seeking comments
concerning the following information collection tools, reporting, and
record-keeping requirements:
(1) Title: Guidance for Expatriates and Recipients of Foreign
Source Gifts and Bequests Under Sections 877A, 2801, and 6039G.
OMB Number: 1545-2123.
Form Number: Notice 2009-85.
Abstract: Section 301 of the Heroes Earnings Assistance and Relief
Tax Act of 2008 (the ``Act'') enacted new sections 877A and 2801 of the
Internal Revenue Code (``Code''), amended sections 6039G and 7701(a),
made conforming amendments to sections 877(e) and 7701(b), and repealed
section 7701(n). This notice provides guidance regarding certain
federal tax consequences under these sections for individuals who
renounce U.S. citizenship or cease to be taxed as lawful permanent
residents of the United States.
Current Actions: There are no changes to the previously approved
burden of this existing collection.
Type of Review: Extension of a currently approved collection.
Affected Public: Individuals or households.
Estimated Number of Respondents: 100.
Estimated Time per Respondent: 4 hrs., 17 min.
Estimated Total Annual Burden Hours: 420.
(2) Title: Form 1120-FSC, U.S. Income Tax Return of a Foreign Sales
Corporation, and Schedule P (Form 1120-FSC), Transfer Price or
Commission.
OMB Number: 1545-0935.
Form Number: 1120-FSC and Schedule P (Form 1120-FSC).
Abstract: Form 1120-FSC is filed by foreign corporations that have
elected to be FSCs or small FSCs. The FSC uses Form 1120-FSC to report
income and expenses and to figure its tax liability. IRS uses Form
1120-FSC and Schedule P (Form 1120-FSC) to determine whether the FSC
has correctly reported its income and expenses and figured its tax
liability correctly.
Current Actions: There are no changes being made to the revenue
procedure at this time.
Type of Review: Extension of a currently approved collection.
Affected Public: Business or other for-profit organizations.
Estimated Number of Respondents: 30,000.
Estimated Time per Respondent: 165 hrs., 37 min.
Estimated Total Annual Reporting Burden hours: 1,088,250.
(3) Title: Application for Withholding Certificate for Dispositions
by Foreign Persons of U.S. Property Interests.
OMB Number: 1545-1060.
Form Number: 8288-B.
Abstract: Section 1445 of the Internal Revenue Code requires
transferees to withhold tax on the amount realized from sales or other
dispositions by foreign persons of U.S. real property interests. Code
sections 1445(b) and (c) allow the withholding to be reduced or
eliminated under certain circumstances. Form 8288-B is used to apply
for a withholding certificate from IRS to reduce or eliminate the
withholding required by Code section 1445.
Current Actions: There is no change in the paperwork burden
previously approved by OMB.
Type of Review: Extension of a currently approved collection.
Affected Public: Business or other for-profit organizations and
individuals or households.
Estimated Number of Respondents: 5,079.
Estimated Time per Respondent: 6 hrs., 8 min.
Estimated Total Annual Burden Hours: 31,135.
(4) Title: Grantor Trust Reporting Requirements.
OMB Number: 1545-1442.
Form Number: PS-79-93.
Abstract: The information required by these regulations is used by
the Internal Revenue Service to ensure that items of income, deduction,
and credit of a trust as owned by a grantor or another person are
properly reported.
Current Actions: There is no change in the paperwork burden
previously approved by OMB.
Type of Review: Extension of a currently approved collection.
Affected Public: Business or other for-profit organizations and
individuals or households.
Estimated Number of Respondents: 1,840,000.
Estimated Time per Respondent: 30 min.
Estimated Total Annual Burden Hours: 920,000.
(5) Title: Empowerment Zone Employment Credit.
OMB Number: 1545-1444.
Form Number: 8844.
Abstract: Employers who hire employees who live and work in one of
the eleven designated empowerment zones can receive a tax credit for
the first $15,000 of wages paid to each employee.
Current Actions: There is no change in the paperwork burden
previously approved by OMB.
Type of Review: Extension of a currently approved collection.
Affected Public: Business or other for-profit organizations,
individuals or households, farms and non-profit institutions.
[[Page 61833]]
Estimated Number of Respondents: 40,000.
Estimated Time per Respondent: 8 hrs., 5 min.
Estimated Total Annual Burden Hours: 237,600.
The following paragraph applies to all of the collections of
information covered by this notice:
An agency may not conduct or sponsor, and a person is not required
to respond to, a collection of information unless the collection of
information displays a valid OMB control number. Books or records
relating to a collection of information must be retained as long as
their contents may become material in the administration of any
internal revenue law. Generally, tax returns and tax return information
are confidential, as required by 26 U.S.C. 6103.
Request for Comments: Comments submitted in response to this notice
will be summarized and/or included in the request for OMB approval. All
comments will become a matter of public record. Comments are invited
on: (a) Whether the collection of information is necessary for the
proper performance of the functions of the agency, including whether
the information shall have practical utility; (b) the accuracy of the
agency's estimate of the burden of the collection of information; (c)
ways to enhance the quality, utility, and clarity of the information to
be collected; (d) ways to minimize the burden of the collection of
information on respondents, including through the use of automated
collection techniques or other forms of information technology; and (e)
estimates of capital or start-up costs and costs of operation,
maintenance, and purchase of services to provide information.
Approved: September 24, 2012.
R. Joseph Durbala,
IRS Reports Clearance Officer.
[FR Doc. 2012-24938 Filed 10-10-12; 8:45 am]
BILLING CODE 4830-01-P
