Proposed Information Collection; Comment Request, 56435-56439 [2014-22321]
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ROUTINE USES OF RECORDS MAINTAINED IN THE
SYSTEM, INCLUDING CATEGORIES OF USERS AND
THE PURPOSES OF SUCH USES:
In addition to those disclosures
generally permitted under 5 U.S.C.
552a(b) of the Privacy Act, all or a
portion of the records or information
contained in this system may be
disclosed outside Treasury as a routine
use pursuant to 5 U.S.C. 552a(b)(3) as
follows:
(1) To a federal, state, or local agency,
maintaining civil, criminal, or other
relevant enforcement information or
other pertinent information, which has
requested information necessary or
relevant to the requesting agency’s
official functions;
(2) To a Congressional office from the
record of an individual in response to
an inquiry from that congressional office
made pursuant to a written Privacy Act
waiver at the request of the individual
to whom the record pertains;
(3) To a court, magistrate, or
administrative tribunal in the course of
presenting evidence, including
disclosures to opposing counsel or
witnesses in the course of civil
discovery, litigation, or settlement
negotiations or in connection with
criminal law proceedings or in response
to a subpoena;
(4) To appropriate agencies, entities,
and individuals when:
(a) Treasury suspects or has
confirmed that the security or
confidentiality of information in the
system of records has been
compromised;
(b) Treasury has determined that as a
result of the suspected or confirmed
compromise there is a risk of harm to
economic or property interests, identity
theft or fraud, or harm to the security or
integrity of this system or other systems
or programs (whether maintained by the
Department or another agency or entity)
that rely upon the compromised
information; and
(c) the disclosure made to such
agencies, entities, and individuals is
reasonably necessary to assist in
connection with Treasury’s efforts to
respond to the suspected or confirmed
compromise and prevent, minimize, or
remedy such harm; or
(5) To the National Archives and
Records Administration (NARA) or
General Services Administration
pursuant to records management
inspections being conducted under the
authority of 44 U.S.C. 2904 and 2906;
(6) To the news media and the public,
with the approval of the Fiscal Service
Chief Privacy Officer in consultation
with counsel, when there exists a
legitimate public interest in the
disclosure of the information or when
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disclosure is necessary to preserve
confidence in the integrity of Treasury
or is necessary to demonstrate the
accountability of Treasury’s officers,
employees, or individuals covered by
the system, except to the extent it is
determined that release of the specific
information in the context of a
particular case would constitute an
unwarranted invasion of personal
privacy.
RECORD ACCESS PROCEDURES:
POLICIES AND PRACTICES FOR STORING,
RETRIEVING, ACCESSING, RETAINING, AND
DISPOSING OF RECORDS IN THE SYSTEM:
56435
EXEMPTIONS CLAIMED FOR THE SYSTEM:
Records in this system are stored
electronically on magnetic disc, tape,
and similar electronic media.
RETRIEVABILITY:
Records may be retrieved by name,
address, or other alpha/numeric
identifying information.
See ‘‘Notification procedure’’ above.
RECORD SOURCE CATEGORIES:
Records are obtained directly from
clients and vendors and added to the
system by authorized Fiscal Service
employees, contractors, and fiscal or
financial agents.
None.
BILLING CODE 4810–35–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Information Collection;
Comment Request
Internal Revenue Service (IRS),
Treasury.
ACTION: Notice and request for
comments.
AGENCY:
SAFEGUARDS:
Records in this system are
safeguarded in accordance with
applicable rules and policies, including
all applicable Treasury automated
systems security and access policies.
Strict controls have been imposed to
minimize the risk of compromising the
information that is being stored. Access
to the computer system containing the
records in this system is limited to those
individuals who have a need to know
the information for the performance of
their official duties, and who have
appropriate permissions.
RETENTION AND DISPOSAL:
Once interactions with a customer or
vendor are concluded, the customer or
vendor account is disabled. Records
related to the interactions are destroyed
at the end of the fiscal year seven years
from the date that the account is
disabled.
SYSTEM MANAGER AND ADDRESS:
Director, Office of Agency Outreach
401 14th Street, SW
Washington, DC 20227
NOTIFICATION PROCEDURE:
Inquiries under the Privacy Act of
1974, as amended, should be addressed
to the Disclosure Officer, Bureau of the
Fiscal Service, 401 14th Street SW.,
Washington, DC 20227. Individuals
should describe the information they
seek as specifically as possible. If an
individual requests that information in
a record be corrected, the system
manager will advise the requestor where
to send the request. Information
concerning Privacy Act requests are
published at 31 CFR part 1, Subpart C,
and Appendix G.
Frm 00101
CONTESTING RECORD PROCEDURES:
[FR Doc. 2014–22366 Filed 9–18–14; 8:45 am]
STORAGE:
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See ‘‘Notification procedure’’ above.
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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)).
DATES: Written comments should be
received on or before November 18,
2014 to be assured of consideration.
ADDRESSES: Direct all written comments
to Christie A. Preston, 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 recordkeeping
requirement number, and OMB number
(if any) in your comment.
FOR FURTHER INFORMATION CONTACT: To
obtain additional information, or copies
of the information collection and
instructions, or copies of any comments
received, contact Elaine Christophe, at
Internal Revenue Service, Room 6129,
1111 Constitution Avenue NW.,
Washington, DC 20224, or through the
internet, at Elaine.H.Christophe@irs.gov.
SUPPLEMENTARY INFORMATION:
SUMMARY:
Request for Comments
The Department of the Treasury and
the Internal Revenue Service, as part of
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their continuing effort to reduce
paperwork and respondent burden,
invite the general public and other
Federal agencies to take this
opportunity to comment on the
proposed or continuing information
collections listed below in this notice,
as required by the Paperwork Reduction
Act of 1995, (44 U.S.C. 3501 et seq.).
Request for Comments: Comments
submitted in response to this notice will
be summarized and/or included in our
request for Office of Management and
Budget (OMB) approval of the relevant
information collection. All comments
will become a matter of public record.
Please do not include any confidential
or inappropriate material in your
comments.
We invite comments on: (a) Whether
the collection of information is
necessary for the proper performance of
the agency’s functions, including
whether the information has 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
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 the requested information.
Currently, the IRS is seeking
comments concerning the following
forms, and reporting and recordkeeping
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
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 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.
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Estimated Number of Respondents:
8,211,486.
Estimated Time per Respondent: 71
hrs., 21 min.
Estimated Total Annual Burden
Hours: 119,299,117.
(2) Title: Form 990–BL, Schedule A
(Form 990–BL), Information and Initial
Excise Tax Return for Black Lung
Benefit Trusts and Certain Related
Persons, and Form 6069, Return of
Excise Tax on Excess Contributions to
Black Lung Benefit Trust Under Section
4953 and Computation of Section 192
Deduction.
OMB Number: 1545–0049.
Form Number: Form 990–BL;
Schedule A (Form 990–BL), and Form
6069.
Abstract: IRS uses Form 990–BL to
monitor activities of black lung benefit
trusts, and to collect excise taxes on
these trusts and certain related persons
if they engage in proscribed activities.
The tax is figured on Schedule A and
attached to Form 990–BL. Form 6069 is
used by coal mine operators to figure
the maximum deduction to a black lung
benefit trust. If excess contributions are
made, IRS uses the form to figure and
collect the tax on excess contributions.
Current Actions: There are changes to
the previously approved burden of this
existing collection.
Type of Review: Extension of a
currently approved collection.
Affected Public: Business or other forprofit organizations, individuals, and
not-for-profit institutions.
Form 990–BL & Schedule A (Form 990–
BL)
Estimated Number of Respondents:
22.
Estimated Time per Respondent: 34
hours, 15 minutes.
Estimated Total Annual Burden
Hours: 754.
Form 6069
Estimated Number of Respondents: 0.
Estimated Time per Respondent: 9
hours, 56 minutes.
Estimated Total Annual Burden
Hours: 0.
(3) Title: Application for Recognition
of Exemption Under Section 521 of the
Internal Revenue Code.
OMB Number: 1545–0058.
Form Number: 1028.
Abstract: Farmers’ cooperatives must
file Form 1028 to apply for exemption
from Federal income tax as being
organizations described in Internal
Revenue Code section 521. The
information on Form 1028 provides the
basis for determining whether the
applicants are exempt.
Current Actions: There are changes
being made to the burden previously
approved by OMB.
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Type of Review: Extension of a
currently approved collection.
Affected Public: Business or other forprofit organizations.
Estimated Number of Respondents: 8.
Estimated Time per Respondent: 71
hours, 53 minutes.
Estimated Total Annual Burden
Hours: 576.
(4) Title: Dividends and Distributions.
OMB Number: 1545–0110.
Form Number: 1099–DIV.
Abstract: Form 1099–DIV is used by
the IRS to insure that dividends are
properly reported as required by
Internal Revenue Code section 6042,
that liquidation distributions are
correctly reported as required by Code
section 6043, and to determine whether
payees are correctly reporting their
income.
Current Actions: There are changes to
the previously approved burden of this
existing collection.
Type of Review: Extension of a
currently approved collection.
Affected Public: Business or other forprofit organizations.
Estimated Number of Responses:
87,476,600.
Estimated Time per Response: 23
minutes.
Estimated Total Annual Burden
Hours: 34,115,874.
(5) Title: Certain Gambling Winnings.
OMB Number: 1545–0238.
Form Number: Form W–2G.
Abstract: Internal Revenue Code
sections 6041, 3402(q), and 3406 require
payers of certain gambling winnings to
withhold tax and to report the winnings
to the IRS. IRS uses the information to
verify compliance with the reporting
rules and to verify that the winnings are
properly reported on the recipient’s tax
return.
Current Actions: There are changes to
the previously approved burden of this
existing collection.
Type of Review: Revision of a
currently approved collection.
Affected Public: Businesses or other
for-profit organizations, state or local
governments, and non-profit
institutions.
Estimated Number of Responses:
10,499,700.
Estimated Time per Response: 24
minutes.
Estimated Total Annual Burden
Hours: 4,304,877.
(6) Title: Exemption From
Withholding on Compensation for
Independent (and Certain Dependent)
Personal Services of a Nonresident
Alien Individual.
OMB Number: 1545–0795.
Form Number: 8233.
Abstract: Compensation paid to a
nonresident alien individual for
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independent personal services (selfemployment) is generally subject to
30% withholding or graduated rates.
However, such compensation may be
exempt from withholding because of a
U.S. tax treaty or the personal
exemption amount. Form 8233 is used
to request exemption from withholding.
Nonresident alien students, teachers,
and researchers performing dependent
personal services also use Form 8233 to
request exemption from withholding.
Current Actions: There are changes to
the burden previously approved by
OMB.
Type of Review: Extension of a
currently approved collection.
Affected Public: Individuals, business
or other for-profit organizations, and
not-for-profit institutions.
Estimated Number of Respondents:
75,617.
Estimated Time per Respondent: 9
hrs., 3 min.
Estimated Total Annual Burden
Hours: 684,334.
(7) Title: Direct Deposit or Refund of
$1 Million or More.
OMB Number: 1545–1763.
Form Number: 8302.
Abstract: This form is used to request
a deposit of a tax refund of $1 million
or more directly into an account at any
U.S. bank or other financial institution
that accepts direct deposits.
Current Actions: There are changes to
the previously approved burden of this
existing collection.
Type of Review: Extension of a
currently approved collection.
Affected Public: Business or other forprofit organizations, individuals or
households.
Estimated Number of Respondents:
584.
Estimated Time per Respondent: 2
hours, 57 minutes.
Estimated Total Annual Burden
Hours: 1,729.
(8) Title: Limitations on Net Operating
Loss Carry-forwards and Certain Built-in
Losses and Credits Following an
Ownership Change of a Consolidated
Group.
OMB Number: 1545–1218.
Regulation Project Number: TD 8824.
Abstract: Section 1502 provides for
the promulgation of regulations with
respect to corporations that file
consolidated income tax returns.
Section 382 limits the amount of income
that can be offset by loss carryovers and
credits after an ownership change.
These final regulations provide rules for
applying section 382 to groups of
corporations that file a consolidated
return.
Current Actions: There is no change to
this existing regulation.
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Type of Review: Extension of
currently approved collection.
Affected Public: Business or other forprofit.
Estimated Number of Respondents:
12,054.
Estimated Time per Respondent: 20
minutes.
Estimated Total Annual Burden
Hours: 662.
(9) Title: Changes With Respect to
Prizes and Awards and Employee
Achievement Awards.
OMB Number: 1545–1100.
Regulation Project Number: IA–111–
86 (REG–209106–89)
Abstract: This regulation requires
recipients of prizes and awards to
maintain records to determine whether
a qualifying designation has been made
in accordance with section 74(b)(3) of
the Internal Revenue Code. The affected
public is prize and award recipients
who seek to exclude the cost of a
qualifying prize or award.
Current Actions: There is no change to
this existing regulation.
Type of Review: Extension of a
currently approved collection.
Affected Public: Individuals or
households.
Estimated Number of Respondents:
5,100.
Estimated Time per Respondent: 15
minutes.
Estimated Total Annual Burden
Hours: 1,275.
(10) Title: Preparer Penalties-Manual
Signature Requirement (Sec. 1.6695–
1(B)).
OMB Number: 1545–1385.
Regulation Project Numbers: TD 8549
(GL–238–88).
Abstract: This regulation provides
that persons who prepare U.S. Fiduciary
income tax returns for compensation
may, under certain conditions, satisfy
the manual signature requirements by
using a facsimile signature. However,
they will be required to submit to the
IRS a list of the names and identifying
numbers of all fiduciary returns which
are being filed with a facsimile
signature.
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.
Estimated Number of Respondents:
20,000.
Estimated Time per Respondent: 1
hour, 17 min.
Estimated Total Annual Burden
Hours: 25,825.
(11) Title: Revision of Regulations
Relating to Withholding of Tax on
Certain U.S. Source Income Paid to
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Foreign Persons and Revision of
Information Reporting Regulations.
OMB Number: 1545–1484.
Regulation Project Number: REG–
242282–97 (TD 8881-final).
Abstract: This regulation prescribes
collections of information for foreign
persons that received payments subject
to withholding under sections 1441,
1442, 1443, or 6114 of the Internal
Revenue Code. This information is used
to claim foreign person status and, in
appropriate cases, to claim residence in
a country with which the United States
has an income tax treaty in effect, so
that withholding at a reduced rate of tax
may be obtained at source. The
regulation also prescribes collections of
information for withholding agents.
This information is used by withholding
agents to report to the IRS income paid
to a foreign person that is subject to
withholding under Code sections 1441,
1442, and 1443. The regulation also
requires that a foreign taxpayer claiming
a reduced amount of withholding tax
under the provisions of an income tax
treaty must disclose its reliance upon a
treaty provision by filing Form 8833
with its U.S. income tax return.
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, individuals or
households, not-for-profit institutions,
farms, and Federal, state, local or tribal
governments.
The burden for the reporting
requirements is reflected in the burden
of Forms W–8BEN, W–8ECI, W–8EXP,
W–8IMY, 1042, 1042S, 8233, 8833, and
the income tax return of a foreign
person filed for purposes of claiming a
refund of tax.
(12) Title: Application of the Grantor
Trust Rules to Nonexempt Employees’
Trusts.
OMB Number: 1545–1498.
Regulation Project Number: REG–
209826–96.
Abstract: This regulation provides
rules for the application of the grantor
trust rules to certain nonexempt
employee’s trusts. Under Section 1.671–
1(h)(3)(iii) of the regulation, the
overfunded amount for certain foreign
employees’ trusts will be reduced to the
extent the taxpayer demonstrates to the
Commissioner, and indicates on a
statement attached to a timely filed
Form 5471, that the overfunded amount
is attributable to a reasonable funding
exception. The IRS needs this
information to determine accurately the
portion of the trust that is properly
treated as owned by the employer.
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Current Actions: There is no change to
this existing regulation.
Type of Review: Extension of
currently approved collection.
Affected Public: Business or other forprofit organizations.
Estimated Number of Respondents:
1,000.
Estimated Time per Respondent: 1
hour.
Estimated Total Annual Burden
Hours: 1,000.
(13) Title: Mark to Market Election for
Commodities Dealers and Securities and
Commodities Traders.
OMB Number: 1545–1641.
Revenue Procedure Number: Revenue
Procedure 99–17 (Revenue Procedure
99–17 is modified by Revenue
Procedure 99–49).
Abstract: These revenue procedures
prescribe the time and manner for
dealers in commodities and traders in
securities or commodities to elect to use
the mark-to-market method of
accounting under sections 475(e) and (f)
of the Internal Revenue Code. The
collections of information in these
revenue procedures are required by the
IRS in order to facilitate monitoring
taxpayers changing accounting methods
resulting from making the elections
under Code section 475(e) or (f).
Current Actions: Section 6 of Revenue
Procedure 99–17 is superseded by
Section 13 of Revenue Procedure 99–49.
Type of Review: Extension of a
currently approved collection.
Affected Public: Business or other forprofit organizations.
The reporting burden for the
collections of information in section
5.01—5.04 of this revenue procedure is
as follows:
Estimated Number of Respondents/
Recordkeepers: 1,000.
Estimated Time per Respondent/
Recordkeeper: 30 minutes.
Estimated Total Annual Reporting/
Recordkeeping Hours: 500.
(14) Title: Capital Gains, Partnership,
Subchapter S, and Trusts Provisions.
OMB Number: 1545–1654.
Regulation Project Number: REG–
106527–98 (TD 8902).
Abstract: The regulation relates to
sales, or exchanges of interests in
partnerships, S corporations, and trusts.
The regulations interpret the lookthrough provision of section 1(h), added
by section 311 of the Taxpayer Relief
Act of 1997 and amended by sections
5001 and 6005(d) of the Internal
Revenue Service Restructuring and
Return Act of 1998, and explain the
rules relating to the division of the
holding period of a partnership interest.
The regulations affect partnerships,
partners, S corporations, S corporation
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shareholders, trusts, and trusts
beneficiaries.
Current Actions: There is no change to
this existing regulation.
Type of Review: Extension of
currently approved collection.
Affected Public: Businesses or other
for-profit organizations, and state, local
or tribal governments.
The burden estimates for requirement
is reflected in the burden estimates for:
Form 1040, U.S. Individual Income Tax
Return; Form 1065, U.S. Partnership
Return of Income; Form 1041, U.S.
Income Tax Return for Estates and
Trusts; and Form 1120S, U.S. Income
Tax Return for an S Corporation.
(15) Title: IRA Required Minimum
Distribution Reporting.
OMB Number: 1545–1779.
Notice Number: Notice 2002–27.
Abstract: Notice 2002–27 (Notice
2003–2, Notice 2003–3 & Notice 2009–
9) provides guidance with respect to the
reporting requirements, that is, data that
custodians and trustees of IRAs must
furnish IRA owners in those instances
where there must be a minimum
distribution from an individual
retirement arrangement.
Current Actions: There are no changes
being made to the notice at this time.
Type of Review: Extension of a
currently approved collection.
Affected Public: Business or other forprofit organizations, and not-for-profit
institutions.
Estimated Number of Respondents:
78,000.
Estimated Average Time per
Respondent: 15 hours.
Estimated Total Annual Burden
Hours: 1,170,000.
(16) Title: Dual Consolidated Loss
Recapture Events.
OMB Number: 1545–1796.
Regulation Project Number: REG–
106879–00 (TD 9084 Final).
Abstract: This document contains
final regulations under section 1503(d)
regarding the events that require the
recapture of dual consolidated losses.
These regulations are issued to facilitate
compliance by taxpayers with the dual
consolidated loss provisions. The
regulations generally provide that
certain events will not trigger recapture
of a dual consolidated loss or payment
of the associated interest charge. The
regulations provide for the filing of
certain agreements in such cases. This
document also makes clarifying and
conforming changes to the current
regulations.
Current Actions: There are no changes
being made to this existing regulation.
Type of Review: Extension of
currently approved collection.
Affected Public: Business or other forprofit organizations.
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Estimated Number of Respondents:
30.
Estimated Time per Respondent: 2
hours.
Estimated Total Annual Burden
Hours: 60.
(17) Title: Domestic Reinvestment and
Other Guidance under Section 965.
OMB Number: 1545–1926.
Regulation Project Number: Notice
2005–10, as modified by Notice 2005–
38.
Abstract: Notice 2005–10 provides
guidance concerning new section 965 of
the Internal Revenue Code (Code). It sets
forth general principles and specific
guidance on domestic reinvestment
plans and on investments in the United
States described in section 965(b)(4)(B).
The Treasury Department and the
Internal Revenue Service (IRS) intend to
issue additional notices providing
guidance concerning section 965,
including rules relating to the foreign
tax credit and expense allocation, rules
for adjusting the calculation of the base
period amounts to take into account
mergers, acquisitions and spin-offs, and
rules regarding controlled groups. The
Treasury Department and the IRS expect
to issue regulations that incorporate the
guidance provided in this and the
subsequent notices. Notice 2005–38
primarily addresses the limitations,
described in section 965(b)(1), (2), and
(3), on the amount of dividends that a
corporation that is a U.S. shareholder of
a controlled foreign corporation may
treat as eligible for the dividends
received deduction under section 965(a)
(DRD or section 965(a) DRD), including
the effects of certain transactions on
such limitations.
Current Actions: There is no change to
this existing regulation.
Type of Review: Extension of
currently approved collection.
Affected Public: Business or other forprofit organizations.
Estimated Number of Respondents:
25,000.
Estimated Time per Respondent: 150
hours.
Estimated Total Annual Burden
Hours: 3,750,000.
(18) Title: Revenue Procedure
Regarding Extended Period of
Limitations for Listed Transaction
Situations.
OMB Number: 1545–1940.
Revenue Procedure Number: Revenue
Procedure 2005–26.
Abstract: The purpose of this revenue
procedure is to alert taxpayers to the
enactment of section 6501(c)(10) of the
Internal Revenue Code, and to provide
guidance for taxpayers subject to the
extended period of limitations on
assessment under section 6501(c)(10).
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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: Individuals or
households and Business or other forprofit institutions.
Estimated Number of Respondents:
859
Estimated Time per Respondent: 5
hours.
Estimated Total Annual Burden
Hours: 430.
(19) Title: Additional First Year
Depreciation Deduction.
OMB Number: 1545–2207
Regulation Project Number: Revenue
Procedure 2011–26
Abstract: This revenue procedure
provides guidance under § 2022(a) of
the Small Business Jobs Act of 2010,
Public Law 111–240, 124 Stat. 2504
(September 27, 2010) (SBJA), and
§ 401(a) and (b) of the Tax Relief,
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Unemployment Insurance
Reauthorization, and Job Creation Act of
2010, Public Law 111–312, 124 Stat.
3296 (December 17, 2010) (TRUIRJCA).
Sections 2022(a) of the SBJA and 401(a)
of the TRUIRJCA amend § 168(k)(2) of
the Internal Revenue Code by extending
the placed-in-service date for property
to qualify for the 50-percent additional
first year depreciation deduction.
Section 401(b) of the TRUIRJCA amends
§ 168(k) by adding § 168(k)(5), which
temporarily allows a 100-percent
additional first year depreciation
deduction for certain new property.
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; individuals or households.
Estimated Number of Respondents:
250,000.
Estimated Time per Respondent: 30
minutes.
PO 00000
Frm 00105
Fmt 4703
Sfmt 9990
56439
Estimated Total Annual Burden
Hours: 125,000.
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.
Dated: September 12, 2014.
Christie Preston,
IRS Reports Clearance Officer.
[FR Doc. 2014–22321 Filed 9–18–14; 8:45 am]
BILLING CODE 4830–01–P
E:\FR\FM\19SEN1.SGM
19SEN1
]]>Agencies
[Federal Register Volume 79, Number 182 (Friday, September 19, 2014)]
[Notices]
[Pages 56435-56439]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-22321]
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Information Collection; Comment Request
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)).
DATES: Written comments should be received on or before November 18,
2014 to be assured of consideration.
ADDRESSES: Direct all written comments to Christie A. Preston, 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 recordkeeping requirement
number, and OMB number (if any) in your comment.
FOR FURTHER INFORMATION CONTACT: To obtain additional information, or
copies of the information collection and instructions, or copies of any
comments received, contact Elaine Christophe, at Internal Revenue
Service, Room 6129, 1111 Constitution Avenue NW., Washington, DC 20224,
or through the internet, at Elaine.H.Christophe@irs.gov.
SUPPLEMENTARY INFORMATION:
Request for Comments
The Department of the Treasury and the Internal Revenue Service, as
part of
[[Page 56436]]
their continuing effort to reduce paperwork and respondent burden,
invite the general public and other Federal agencies to take this
opportunity to comment on the proposed or continuing information
collections listed below in this notice, as required by the Paperwork
Reduction Act of 1995, (44 U.S.C. 3501 et seq.).
Request for Comments: Comments submitted in response to this notice
will be summarized and/or included in our request for Office of
Management and Budget (OMB) approval of the relevant information
collection. All comments will become a matter of public record. Please
do not include any confidential or inappropriate material in your
comments.
We invite comments on: (a) Whether the collection of information is
necessary for the proper performance of the agency's functions,
including whether the information has 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 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 the
requested information.
Currently, the IRS is seeking comments concerning the following
forms, and reporting and recordkeeping 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 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 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: 8,211,486.
Estimated Time per Respondent: 71 hrs., 21 min.
Estimated Total Annual Burden Hours: 119,299,117.
(2) Title: Form 990-BL, Schedule A (Form 990-BL), Information and
Initial Excise Tax Return for Black Lung Benefit Trusts and Certain
Related Persons, and Form 6069, Return of Excise Tax on Excess
Contributions to Black Lung Benefit Trust Under Section 4953 and
Computation of Section 192 Deduction.
OMB Number: 1545-0049.
Form Number: Form 990-BL; Schedule A (Form 990-BL), and Form 6069.
Abstract: IRS uses Form 990-BL to monitor activities of black lung
benefit trusts, and to collect excise taxes on these trusts and certain
related persons if they engage in proscribed activities. The tax is
figured on Schedule A and attached to Form 990-BL. Form 6069 is used by
coal mine operators to figure the maximum deduction to a black lung
benefit trust. If excess contributions are made, IRS uses the form to
figure and collect the tax on excess contributions.
Current Actions: There are changes to the previously approved
burden of this existing collection.
Type of Review: Extension of a currently approved collection.
Affected Public: Business or other for-profit organizations,
individuals, and not-for-profit institutions.
Form 990-BL & Schedule A (Form 990-BL)
Estimated Number of Respondents: 22.
Estimated Time per Respondent: 34 hours, 15 minutes.
Estimated Total Annual Burden Hours: 754.
Form 6069
Estimated Number of Respondents: 0.
Estimated Time per Respondent: 9 hours, 56 minutes.
Estimated Total Annual Burden Hours: 0.
(3) Title: Application for Recognition of Exemption Under Section
521 of the Internal Revenue Code.
OMB Number: 1545-0058.
Form Number: 1028.
Abstract: Farmers' cooperatives must file Form 1028 to apply for
exemption from Federal income tax as being organizations described in
Internal Revenue Code section 521. The information on Form 1028
provides the basis for determining whether the applicants are exempt.
Current Actions: There are changes being made to the burden
previously approved by OMB.
Type of Review: Extension of a currently approved collection.
Affected Public: Business or other for-profit organizations.
Estimated Number of Respondents: 8.
Estimated Time per Respondent: 71 hours, 53 minutes.
Estimated Total Annual Burden Hours: 576.
(4) Title: Dividends and Distributions.
OMB Number: 1545-0110.
Form Number: 1099-DIV.
Abstract: Form 1099-DIV is used by the IRS to insure that dividends
are properly reported as required by Internal Revenue Code section
6042, that liquidation distributions are correctly reported as required
by Code section 6043, and to determine whether payees are correctly
reporting their income.
Current Actions: There are changes to the previously approved
burden of this existing collection.
Type of Review: Extension of a currently approved collection.
Affected Public: Business or other for-profit organizations.
Estimated Number of Responses: 87,476,600.
Estimated Time per Response: 23 minutes.
Estimated Total Annual Burden Hours: 34,115,874.
(5) Title: Certain Gambling Winnings.
OMB Number: 1545-0238.
Form Number: Form W-2G.
Abstract: Internal Revenue Code sections 6041, 3402(q), and 3406
require payers of certain gambling winnings to withhold tax and to
report the winnings to the IRS. IRS uses the information to verify
compliance with the reporting rules and to verify that the winnings are
properly reported on the recipient's tax return.
Current Actions: There are changes to the previously approved
burden of this existing collection.
Type of Review: Revision of a currently approved collection.
Affected Public: Businesses or other for-profit organizations,
state or local governments, and non-profit institutions.
Estimated Number of Responses: 10,499,700.
Estimated Time per Response: 24 minutes.
Estimated Total Annual Burden Hours: 4,304,877.
(6) Title: Exemption From Withholding on Compensation for
Independent (and Certain Dependent) Personal Services of a Nonresident
Alien Individual.
OMB Number: 1545-0795.
Form Number: 8233.
Abstract: Compensation paid to a nonresident alien individual for
[[Page 56437]]
independent personal services (self-employment) is generally subject to
30% withholding or graduated rates. However, such compensation may be
exempt from withholding because of a U.S. tax treaty or the personal
exemption amount. Form 8233 is used to request exemption from
withholding. Nonresident alien students, teachers, and researchers
performing dependent personal services also use Form 8233 to request
exemption from withholding.
Current Actions: There are changes to the burden previously
approved by OMB.
Type of Review: Extension of a currently approved collection.
Affected Public: Individuals, business or other for-profit
organizations, and not-for-profit institutions.
Estimated Number of Respondents: 75,617.
Estimated Time per Respondent: 9 hrs., 3 min.
Estimated Total Annual Burden Hours: 684,334.
(7) Title: Direct Deposit or Refund of $1 Million or More.
OMB Number: 1545-1763.
Form Number: 8302.
Abstract: This form is used to request a deposit of a tax refund of
$1 million or more directly into an account at any U.S. bank or other
financial institution that accepts direct deposits.
Current Actions: There are changes to the previously approved
burden of this existing collection.
Type of Review: Extension of a currently approved collection.
Affected Public: Business or other for-profit organizations,
individuals or households.
Estimated Number of Respondents: 584.
Estimated Time per Respondent: 2 hours, 57 minutes.
Estimated Total Annual Burden Hours: 1,729.
(8) Title: Limitations on Net Operating Loss Carry-forwards and
Certain Built-in Losses and Credits Following an Ownership Change of a
Consolidated Group.
OMB Number: 1545-1218.
Regulation Project Number: TD 8824.
Abstract: Section 1502 provides for the promulgation of regulations
with respect to corporations that file consolidated income tax returns.
Section 382 limits the amount of income that can be offset by loss
carryovers and credits after an ownership change. These final
regulations provide rules for applying section 382 to groups of
corporations that file a consolidated return.
Current Actions: There is no change to this existing regulation.
Type of Review: Extension of currently approved collection.
Affected Public: Business or other for-profit.
Estimated Number of Respondents: 12,054.
Estimated Time per Respondent: 20 minutes.
Estimated Total Annual Burden Hours: 662.
(9) Title: Changes With Respect to Prizes and Awards and Employee
Achievement Awards.
OMB Number: 1545-1100.
Regulation Project Number: IA-111-86 (REG-209106-89)
Abstract: This regulation requires recipients of prizes and awards
to maintain records to determine whether a qualifying designation has
been made in accordance with section 74(b)(3) of the Internal Revenue
Code. The affected public is prize and award recipients who seek to
exclude the cost of a qualifying prize or award.
Current Actions: There is no change to this existing regulation.
Type of Review: Extension of a currently approved collection.
Affected Public: Individuals or households.
Estimated Number of Respondents: 5,100.
Estimated Time per Respondent: 15 minutes.
Estimated Total Annual Burden Hours: 1,275.
(10) Title: Preparer Penalties-Manual Signature Requirement (Sec.
1.6695-1(B)).
OMB Number: 1545-1385.
Regulation Project Numbers: TD 8549 (GL-238-88).
Abstract: This regulation provides that persons who prepare U.S.
Fiduciary income tax returns for compensation may, under certain
conditions, satisfy the manual signature requirements by using a
facsimile signature. However, they will be required to submit to the
IRS a list of the names and identifying numbers of all fiduciary
returns which are being filed with a facsimile signature.
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.
Estimated Number of Respondents: 20,000.
Estimated Time per Respondent: 1 hour, 17 min.
Estimated Total Annual Burden Hours: 25,825.
(11) Title: Revision of Regulations Relating to Withholding of Tax
on Certain U.S. Source Income Paid to Foreign Persons and Revision of
Information Reporting Regulations.
OMB Number: 1545-1484.
Regulation Project Number: REG-242282-97 (TD 8881-final).
Abstract: This regulation prescribes collections of information for
foreign persons that received payments subject to withholding under
sections 1441, 1442, 1443, or 6114 of the Internal Revenue Code. This
information is used to claim foreign person status and, in appropriate
cases, to claim residence in a country with which the United States has
an income tax treaty in effect, so that withholding at a reduced rate
of tax may be obtained at source. The regulation also prescribes
collections of information for withholding agents. This information is
used by withholding agents to report to the IRS income paid to a
foreign person that is subject to withholding under Code sections 1441,
1442, and 1443. The regulation also requires that a foreign taxpayer
claiming a reduced amount of withholding tax under the provisions of an
income tax treaty must disclose its reliance upon a treaty provision by
filing Form 8833 with its U.S. income tax return.
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,
individuals or households, not-for-profit institutions, farms, and
Federal, state, local or tribal governments.
The burden for the reporting requirements is reflected in the
burden of Forms W-8BEN, W-8ECI, W-8EXP, W-8IMY, 1042, 1042S, 8233,
8833, and the income tax return of a foreign person filed for purposes
of claiming a refund of tax.
(12) Title: Application of the Grantor Trust Rules to Nonexempt
Employees' Trusts.
OMB Number: 1545-1498.
Regulation Project Number: REG-209826-96.
Abstract: This regulation provides rules for the application of the
grantor trust rules to certain nonexempt employee's trusts. Under
Section 1.671-1(h)(3)(iii) of the regulation, the overfunded amount for
certain foreign employees' trusts will be reduced to the extent the
taxpayer demonstrates to the Commissioner, and indicates on a statement
attached to a timely filed Form 5471, that the overfunded amount is
attributable to a reasonable funding exception. The IRS needs this
information to determine accurately the portion of the trust that is
properly treated as owned by the employer.
[[Page 56438]]
Current Actions: There is no change to this existing regulation.
Type of Review: Extension of currently approved collection.
Affected Public: Business or other for-profit organizations.
Estimated Number of Respondents: 1,000.
Estimated Time per Respondent: 1 hour.
Estimated Total Annual Burden Hours: 1,000.
(13) Title: Mark to Market Election for Commodities Dealers and
Securities and Commodities Traders.
OMB Number: 1545-1641.
Revenue Procedure Number: Revenue Procedure 99-17 (Revenue
Procedure 99-17 is modified by Revenue Procedure 99-49).
Abstract: These revenue procedures prescribe the time and manner
for dealers in commodities and traders in securities or commodities to
elect to use the mark-to-market method of accounting under sections
475(e) and (f) of the Internal Revenue Code. The collections of
information in these revenue procedures are required by the IRS in
order to facilitate monitoring taxpayers changing accounting methods
resulting from making the elections under Code section 475(e) or (f).
Current Actions: Section 6 of Revenue Procedure 99-17 is superseded
by Section 13 of Revenue Procedure 99-49.
Type of Review: Extension of a currently approved collection.
Affected Public: Business or other for-profit organizations.
The reporting burden for the collections of information in section
5.01--5.04 of this revenue procedure is as follows:
Estimated Number of Respondents/Recordkeepers: 1,000.
Estimated Time per Respondent/Recordkeeper: 30 minutes.
Estimated Total Annual Reporting/Recordkeeping Hours: 500.
(14) Title: Capital Gains, Partnership, Subchapter S, and Trusts
Provisions.
OMB Number: 1545-1654.
Regulation Project Number: REG-106527-98 (TD 8902).
Abstract: The regulation relates to sales, or exchanges of
interests in partnerships, S corporations, and trusts. The regulations
interpret the look-through provision of section 1(h), added by section
311 of the Taxpayer Relief Act of 1997 and amended by sections 5001 and
6005(d) of the Internal Revenue Service Restructuring and Return Act of
1998, and explain the rules relating to the division of the holding
period of a partnership interest. The regulations affect partnerships,
partners, S corporations, S corporation shareholders, trusts, and
trusts beneficiaries.
Current Actions: There is no change to this existing regulation.
Type of Review: Extension of currently approved collection.
Affected Public: Businesses or other for-profit organizations, and
state, local or tribal governments.
The burden estimates for requirement is reflected in the burden
estimates for: Form 1040, U.S. Individual Income Tax Return; Form 1065,
U.S. Partnership Return of Income; Form 1041, U.S. Income Tax Return
for Estates and Trusts; and Form 1120S, U.S. Income Tax Return for an S
Corporation.
(15) Title: IRA Required Minimum Distribution Reporting.
OMB Number: 1545-1779.
Notice Number: Notice 2002-27.
Abstract: Notice 2002-27 (Notice 2003-2, Notice 2003-3 & Notice
2009-9) provides guidance with respect to the reporting requirements,
that is, data that custodians and trustees of IRAs must furnish IRA
owners in those instances where there must be a minimum distribution
from an individual retirement arrangement.
Current Actions: There are no changes being made to the notice at
this time.
Type of Review: Extension of a currently approved collection.
Affected Public: Business or other for-profit organizations, and
not-for-profit institutions.
Estimated Number of Respondents: 78,000.
Estimated Average Time per Respondent: 15 hours.
Estimated Total Annual Burden Hours: 1,170,000.
(16) Title: Dual Consolidated Loss Recapture Events.
OMB Number: 1545-1796.
Regulation Project Number: REG-106879-00 (TD 9084 Final).
Abstract: This document contains final regulations under section
1503(d) regarding the events that require the recapture of dual
consolidated losses. These regulations are issued to facilitate
compliance by taxpayers with the dual consolidated loss provisions. The
regulations generally provide that certain events will not trigger
recapture of a dual consolidated loss or payment of the associated
interest charge. The regulations provide for the filing of certain
agreements in such cases. This document also makes clarifying and
conforming changes to the current regulations.
Current Actions: There are no changes being made to this existing
regulation.
Type of Review: Extension of currently approved collection.
Affected Public: Business or other for-profit organizations.
Estimated Number of Respondents: 30.
Estimated Time per Respondent: 2 hours.
Estimated Total Annual Burden Hours: 60.
(17) Title: Domestic Reinvestment and Other Guidance under Section
965.
OMB Number: 1545-1926.
Regulation Project Number: Notice 2005-10, as modified by Notice
2005-38.
Abstract: Notice 2005-10 provides guidance concerning new section
965 of the Internal Revenue Code (Code). It sets forth general
principles and specific guidance on domestic reinvestment plans and on
investments in the United States described in section 965(b)(4)(B). The
Treasury Department and the Internal Revenue Service (IRS) intend to
issue additional notices providing guidance concerning section 965,
including rules relating to the foreign tax credit and expense
allocation, rules for adjusting the calculation of the base period
amounts to take into account mergers, acquisitions and spin-offs, and
rules regarding controlled groups. The Treasury Department and the IRS
expect to issue regulations that incorporate the guidance provided in
this and the subsequent notices. Notice 2005-38 primarily addresses the
limitations, described in section 965(b)(1), (2), and (3), on the
amount of dividends that a corporation that is a U.S. shareholder of a
controlled foreign corporation may treat as eligible for the dividends
received deduction under section 965(a) (DRD or section 965(a) DRD),
including the effects of certain transactions on such limitations.
Current Actions: There is no change to this existing regulation.
Type of Review: Extension of currently approved collection.
Affected Public: Business or other for-profit organizations.
Estimated Number of Respondents: 25,000.
Estimated Time per Respondent: 150 hours.
Estimated Total Annual Burden Hours: 3,750,000.
(18) Title: Revenue Procedure Regarding Extended Period of
Limitations for Listed Transaction Situations.
OMB Number: 1545-1940.
Revenue Procedure Number: Revenue Procedure 2005-26.
Abstract: The purpose of this revenue procedure is to alert
taxpayers to the enactment of section 6501(c)(10) of the Internal
Revenue Code, and to provide guidance for taxpayers subject to the
extended period of limitations on assessment under section 6501(c)(10).
[[Page 56439]]
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: Individuals or households and Business or other
for-profit institutions.
Estimated Number of Respondents: 859
Estimated Time per Respondent: 5 hours.
Estimated Total Annual Burden Hours: 430.
(19) Title: Additional First Year Depreciation Deduction.
OMB Number: 1545-2207
Regulation Project Number: Revenue Procedure 2011-26
Abstract: This revenue procedure provides guidance under Sec.
2022(a) of the Small Business Jobs Act of 2010, Public Law 111-240, 124
Stat. 2504 (September 27, 2010) (SBJA), and Sec. 401(a) and (b) of the
Tax Relief, Unemployment Insurance Reauthorization, and Job Creation
Act of 2010, Public Law 111-312, 124 Stat. 3296 (December 17, 2010)
(TRUIRJCA). Sections 2022(a) of the SBJA and 401(a) of the TRUIRJCA
amend Sec. 168(k)(2) of the Internal Revenue Code by extending the
placed-in-service date for property to qualify for the 50-percent
additional first year depreciation deduction. Section 401(b) of the
TRUIRJCA amends Sec. 168(k) by adding Sec. 168(k)(5), which
temporarily allows a 100-percent additional first year depreciation
deduction for certain new property.
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; individuals or
households.
Estimated Number of Respondents: 250,000.
Estimated Time per Respondent: 30 minutes.
Estimated Total Annual Burden Hours: 125,000.
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.
Dated: September 12, 2014.
Christie Preston,
IRS Reports Clearance Officer.
[FR Doc. 2014-22321 Filed 9-18-14; 8:45 am]
BILLING CODE 4830-01-P
