Proposed Collection; Comment Request For Regulation Project, 41362-41363 [2014-16484]

Download as PDF mstockstill on DSK4VPTVN1PROD with NOTICES 41362 Federal Register / Vol. 79, No. 135 / Tuesday, July 15, 2014 / Notices soliciting comments concerning Form 843, Claim for Refund and Request for Abatement. DATES: Written comments should be received on or before September 15, 2014 to be assured of consideration. ADDRESSES: Direct all written comments to R. Joseph Durbala, Internal Revenue Service, Room 6129, 1111 Constitution Avenue NW., Washington, DC 20224. FOR FURTHER INFORMATION CONTACT: Requests for additional information or copies of the form and instructions should be directed to LaNita Van Dyke, Internal Revenue Service, Room 6517, 1111 Constitution Avenue NW., Washington, DC 20224, or through the internet at Lanita.VanDyke@irs.gov. SUPPLEMENTARY INFORMATION: Title: Claim for Refund and Request for Abatement. OMB Number: 1545–0024. Form Number: 843. Abstract: Internal Revenue Code section 6402, 6404, and sections 301.6402–2, 301.6404–1, 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 actions by the IRS. Form 843 is used by taxpayers to claim these refunds, credits, or abatements. Current Actions: There are no changes being made to the form at this time. Type of Review: Extension of a currently approved collection. Affected Public: Business or other forprofit organizations, individuals or households, not-for-profit institutions, farms, and state, local or tribal governments. Estimated Number of Responses: 550,500. Estimated Time per Respondent: 1 hr., 35 min. Estimated Total Annual Burden Hours: 875,295. 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 VerDate Mar<15>2010 17:46 Jul 14, 2014 Jkt 232001 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: June 5, 2014. R. Joseph Durbala, IRS Reports Clearance Officer. [FR Doc. 2014–16471 Filed 7–14–14; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request For Regulation Project Internal Revenue Service (IRS), Treasury. ACTION: Notice and request for comments. AGENCY: The Department of the Treasury, as part of its effort to reduce paperwork and respondent burden, invites the general public and 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)). The IRS is soliciting comments concerning Treatment of Gain From the Disposition of Interest in Certain Natural Resource Recapture Property by S Corporations and Their Shareholders. DATES: Written comments should be received on or before September 15, 2014 to be assured of consideration. ADDRESSES: Direct all written comments to R. Joseph Durbala, Internal Revenue Service, room 6129, 1111 Constitution Avenue NW., Washington, DC 20224. FOR FURTHER INFORMATION CONTACT: Requests for additional information or copies of the information collection should be directed to LaNita Van Dyke, or at Internal Revenue Service, room 6517, 1111 Constitution Avenue NW., Washington, DC 20224, or through the internet, at Lanita.VanDyke@irs.gov. SUMMARY: PO 00000 Frm 00117 Fmt 4703 Sfmt 4703 SUPPLEMENTARY INFORMATION: Title: Treatment of Gain From the Disposition of Interest in Certain Natural Resource Recapture Property by S Corporations and Their Shareholders. OMB Number: 1545–1493. Regulation Project Number: T.D. 8684. Abstract: This regulation prescribes rules under Code section 1254 relating to the treatment by S corporations and their shareholders of gain from the disposition of natural resource recapture property and from the sale or exchange of S corporation stock. Section 1.1254– 4(c)(2) of the regulation provides that gain recognized on the sale or exchange of S corporation stock is not treated as ordinary income if the shareholder attaches a statement to his or her return containing information establishing that the gain is not attributable to section 1254 costs. Current Actions: There is no change to this existing regulation. Type of Review: Extension of a currently approved collection. Affected Public: Business or other forprofit organizations, and individuals. Estimated Number of Respondents: 1,000. Estimated Time per Respondent: 1 hour. Estimated Total Annual Burden Hours: 1,000. The following paragraph applies to all of the collections of information covered by this notice: An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless the collection of information displays a valid OMB control number. Books or records relating to a collection of information must be retained as long as their contents may become material in the administration of any internal revenue law. Generally, tax returns and tax return information are confidential, as required by 26 U.S.C. 6103. Request For Comments: Comments submitted in response to this notice will be summarized and/or included in the request for OMB approval. All comments will become a matter of public record. Comments are invited on: (a) Whether the collection of information is necessary for the proper performance of the functions of the agency, including whether the information shall have practical utility; (b) the accuracy of the agency’s estimate of the burden of the collection of information; (c) ways to enhance the quality, utility, and clarity of the information to be collected; (d) ways to minimize the burden of the collection of information on respondents, including through the use of automated collection techniques or other forms of information E:\FR\FM\15JYN1.SGM 15JYN1 Federal Register / Vol. 79, No. 135 / Tuesday, July 15, 2014 / Notices technology; and (e) estimates of capital or start-up costs and costs of operation, maintenance, and purchase of services to provide information. Approved: June 6, 2014. R. Joseph Durbala, IRS Reports Clearance Officer. [FR Doc. 2014–16484 Filed 7–14–14; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Form 12114 Internal Revenue Service (IRS), Treasury. ACTION: Notice and request for comments. AGENCY: The Department of the Treasury, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995, Public Law 104–13(44 U.S.C. 3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning Form 12114, Continuation Sheet for Item #15 (Additional Information) OF–306, Declaration for Federal Employment. DATES: Written comments should be received on or before September 15, 2014 to be assured of consideration. ADDRESSES: Direct all written comments to R. Joseph Durbala Internal Revenue Service, room 6129, 1111 Constitution Avenue NW., Washington, DC 20224. FOR FURTHER INFORMATION CONTACT: Requests for additional information or copies of the form and instructions should be directed to LaNita Van Dyke, at Internal Revenue Service, room 6517, 1111 Constitution Avenue NW., Washington, DC 20224, or through the internet at Lanita.VanDyke@irs.gov. SUPPLEMENTARY INFORMATION: Title: Continuation Sheet for Item #15 (Additional Information) OF–306, Declaration for Federal Employment. OMB Number: 1545–1921. Form Number: 12114. Abstract: This form is used by recruitment personnel of the Covington Host Site. This form is provided to applicants when completing OF 306, Declaration for Federal Employment. It is used as a continuation sheet to clearly define additional information that is requested in item 15 of the OF 306. Due to lack of space on the OF 306 this form mstockstill on DSK4VPTVN1PROD with NOTICES SUMMARY: VerDate Mar<15>2010 17:46 Jul 14, 2014 Jkt 232001 can be used in lieu of an additional sheet of paper. Type of Review: Extension of a currently approved collection. Affected Public: Individuals or households. Estimated Number of Respondents: 24,813. Estimated Time per Respondent: 15 minutes. Estimated Total Annual Burden Hours: 6,203. 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: June 19, 2014. R. Joseph Durbala, IRS Reports Clearance Officer. [FR Doc. 2014–16472 Filed 7–14–14; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Form 4797 Internal Revenue Service (IRS), Treasury. ACTION: Notice and request for comments. AGENCY: PO 00000 Frm 00118 Fmt 4703 Sfmt 4703 41363 The Department of the Treasury, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995, Public Law 104–13 (44 U.S.C. 3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning Form 4797, Sales of Business Property. DATES: Written comments should be received on or before September 15, 2014 to be assured of consideration. ADDRESSES: Direct all written comments to R. Joseph Durbala, Internal Revenue Service, Room 6129, 1111 Constitution Avenue NW., Washington, DC 20224. FOR FURTHER INFORMATION CONTACT: Requests for additional information or copies of the form and instructions should be directed to Gerald J. Shields at Internal Revenue Service, Room 6129, 1111 Constitution Avenue NW., Washington, DC 20224, or through the internet at Gerald.J.Shields@irs.gov. SUPPLEMENTARY INFORMATION: Title: Sales of Business Property. OMB Number: 1545–0184. Form Number: 4797. Abstract: Form 4797 is used by taxpayers to report sales, exchanges, or involuntary conversions of assets used in a trade or business. It is also used to compute ordinary income from recapture and the recapture of prior year losses under section 1231 of the Internal Revenue Code. In the instructions, the Worksheet for Partners and S Corporation Shareholders To Figure Gain or Loss on Dispositions of Property for Which a Section 179 Deduction Was Claimed is located. Current Actions: There are no changes being made to the form at this time. The change in burden is due to changes in the instructions and agency discretion. Type of Review: Revision of a currently approved collection. Affected Public: Business or other forprofit organizations, individuals or households, and farms. Estimated Number of Respondents: 1,993,957. Estimated Time per Respondent: 42 hours, 2 minutes. Estimated Total Annual Burden Hours: 78,852,363. 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. SUMMARY: E:\FR\FM\15JYN1.SGM 15JYN1

Agencies

[Federal Register Volume 79, Number 135 (Tuesday, July 15, 2014)]
[Notices]
[Pages 41362-41363]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-16484]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request For Regulation Project

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

-----------------------------------------------------------------------

SUMMARY: The Department of the Treasury, as part of its effort to 
reduce paperwork and respondent burden, invites the general public and 
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)). The 
IRS is soliciting comments concerning Treatment of Gain From the 
Disposition of Interest in Certain Natural Resource Recapture Property 
by S Corporations and Their Shareholders.

DATES: Written comments should be received on or before September 15, 
2014 to be assured of consideration.

ADDRESSES: Direct all written comments to R. Joseph Durbala, Internal 
Revenue Service, room 6129, 1111 Constitution Avenue NW., Washington, 
DC 20224.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the information collection should be directed to LaNita Van 
Dyke, or at Internal Revenue Service, room 6517, 1111 Constitution 
Avenue NW., Washington, DC 20224, or through the internet, at 
Lanita.VanDyke@irs.gov.

SUPPLEMENTARY INFORMATION: 
    Title: Treatment of Gain From the Disposition of Interest in 
Certain Natural Resource Recapture Property by S Corporations and Their 
Shareholders.
    OMB Number: 1545-1493.
    Regulation Project Number: T.D. 8684.
    Abstract: This regulation prescribes rules under Code section 1254 
relating to the treatment by S corporations and their shareholders of 
gain from the disposition of natural resource recapture property and 
from the sale or exchange of S corporation stock. Section 1.1254-
4(c)(2) of the regulation provides that gain recognized on the sale or 
exchange of S corporation stock is not treated as ordinary income if 
the shareholder attaches a statement to his or her return containing 
information establishing that the gain is not attributable to section 
1254 costs.
    Current Actions: There is no change to this existing regulation.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations, and 
individuals.
    Estimated Number of Respondents: 1,000.
    Estimated Time per Respondent: 1 hour.
    Estimated Total Annual Burden Hours: 1,000.
    The following paragraph applies to all of the collections of 
information covered by this notice:
    An agency may not conduct or sponsor, and a person is not required 
to respond to, a collection of information unless the collection of 
information displays a valid OMB control number. Books or records 
relating to a collection of information must be retained as long as 
their contents may become material in the administration of any 
internal revenue law. Generally, tax returns and tax return information 
are confidential, as required by 26 U.S.C. 6103.
    Request For Comments: Comments submitted in response to this notice 
will be summarized and/or included in the request for OMB approval. All 
comments will become a matter of public record. Comments are invited 
on: (a) Whether the collection of information is necessary for the 
proper performance of the functions of the agency, including whether 
the information shall have practical utility; (b) the accuracy of the 
agency's estimate of the burden of the collection of information; (c) 
ways to enhance the quality, utility, and clarity of the information to 
be collected; (d) ways to minimize the burden of the collection of 
information on respondents, including through the use of automated 
collection techniques or other forms of information

[[Page 41363]]

technology; and (e) estimates of capital or start-up costs and costs of 
operation, maintenance, and purchase of services to provide 
information.

    Approved: June 6, 2014.
R. Joseph Durbala,
IRS Reports Clearance Officer.
[FR Doc. 2014-16484 Filed 7-14-14; 8:45 am]
BILLING CODE 4830-01-P