Submission for OMB Review; Comment Request, 78566-78572 [2014-30376]
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78566
Federal Register / Vol. 79, No. 249 / Tuesday, December 30, 2014 / Notices
joint and survivor annuity. These
regulations affect plan sponsors and
administrators, and participants in and
beneficiaries of, certain retirement
plans.
Affected Public: Private Sector:
Businesses or other for-profits.
Estimated Annual Burden Hours:
385,000.
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OMB Number: 1545–1920.
Type of Review: Revision of a
currently approved collection.
Title: Repayment of a Federal
Government Buyout and Possible
Suspension of Severance Pay.
Form: 12311.
Abstract: Form 12311 outlines the
regulations requiring those employees
being rehired by the government and
received a buyout from their previous
job to make repayment of the buyout
before they will be hired again.
Affected Public: Individuals or
Households.
Estimated Annual Burden Hours: 530.
OMB Number: 1545–1772.
Type of Review: Revision of a
currently approved collection.
Title: User Fee for Employee Plan
Determination Letter Request.
Form: 8717.
Abstract: The Omnibus Reconciliation
Act of 1990 requires payment of a ‘‘user
fee’’ with each application for a
determination letter. Because of this
requirement, the Form 8717 was created
to provide filers the means to make
payment and indicate the type of
request.
Affected Public: Private Sector:
Businesses or other for-profits.
Estimated Annual Burden Hours:
445,770.
OMB Number: 1545–0014.
Type of Review: Extension of a
currently approved collection.
Title: Application for Registration for
Certain Excise Tax Activities.
Form: 637.
Abstract: Form 637 is used to apply
for excise tax registration. The
registration applies to a person required
to be registered under IRC section 4101
for purposes of the federal excise tax on
taxable fuel imposed by IRC 4041 and
4081; and to certain manufacturers or
sellers and purchasers that must register
under IRC 4222 to be exempt from the
excise tax on taxable articles. The data
is used to determine if the applicant
qualifies for exemption. Taxable fuel
producers are required by IRC 4101 to
register with the Service before
incurring any tax liability.
Affected Public: Private Sector:
Businesses and other for-profits.
Estimated Annual Burden Hours:
27,020.
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OMB Number: 1545–1939.
Type of Review: Extension without
change of a currently approved
collection.
Title: Notice 2005–32—Notification
Requirement for Transfer of Partnership
Interest in Electing Investment
Partnership (EIP).
Abstract: The American Jobs Creation
Act of 2004, Pub. L. 108–357, 118 Stat.
1418 (the Act), was enacted on October
22, 2004. The Treasury Department and
the Internal Revenue Service intend to
issue regulations implementing sections
833 and 834 of the Act, which amended
sections 704, 734, 743, and 6031 of the
Internal Revenue Code. This notice
provides interim procedures for
partnerships and their partners to
comply with the mandatory basis
provisions of sections 734 and 743, as
amended by the Act. This notice also
provides interim procedures for electing
investment partnerships (EIPs) and their
partners to comply with sections 743(e)
and 6031(f), as provided in section
833(b) of the Act.
Affected Public: Private Sector:
Businesses and other for-profits.
Estimated Annual Burden Hours:
552,100.
OMB Number: 1545–0967.
Type of Review: Revision of a
currently approved collection.
Title: Declaration and Signature for
Electronic and Magnetic Media Filing.
Form: 8879–F.
Abstract: The Form 8879–F is used to
secure taxpayer signatures and
declarations in conjunction with
electronic and magnetic media filing of
trust and fiduciary income tax returns
and, if applicable, consent to electronic
funds withdrawal. The form together
with the electronic and magnetic media
transmission will comprise the
taxpayer’s income tax return.
Affected Public: Private Sector:
Businesses or other for-profits.
Estimated Annual Burden Hours:
2,164,379.
OMB Number: 1545–1150.
Type of Review: Revision of a
currently approved collection.
Title: Form 990–EZ—Short Form
Return of Organization Exempt From
Income Tax.
Form: 990–EZ and schedules.
Abstract: Form 990–EZ and schedules
are needed to determine that IRS section
501(a) tax- exempt organizations fulfill
the operating conditions within the
limitations of their tax exemption. IRS
uses the information from this form to
determine if the filers are operating
within the rules of their exemption.
Affected Public: Private Sector: Notfor-profit institutions.
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Estimated Annual Burden Hours:
52,028,163.
Dawn D. Wolfgang,
Treasury PRA Clearance Officer.
[FR Doc. 2014–30466 Filed 12–29–14; 8:45 am]
BILLING CODE 4810–01–P
DEPARTMENT OF THE TREASURY
Submission for OMB Review;
Comment Request
December 22, 2014.
The Department of the Treasury will
submit the following information
collection request to the Office of
Management and Budget (OMB) for
review and clearance in accordance
with the Paperwork Reduction Act of
1995, Public Law 104–13, on or after the
date of publication of this notice.
DATES: Comments should be received on
or before January 29, 2015 to be assured
of consideration.
ADDRESSES: Send comments regarding
the burden estimate, or any other aspect
of the information collection, including
suggestion for reducing the burden, to
(1) Office of Information and Regulatory
Affairs, Office of Management and
Budget, Attention: Desk Officer for
Treasury, New Executive Office
Building, Room 10235, Washington, DC
20503, or email at OIRA_Submission@
OMB.EOP.GOV and (2) Treasury PRA
Clearance Officer, 1750 Pennsylvania
Ave. NW., Suite 8140, Washington, DC
20220, or email at PRA@treasury.gov.
FOR FURTHER INFORMATION CONTACT:
Copies of the submission(s) may be
obtained by calling (202) 927–5331,
email at PRA@treasury.gov, or the entire
information collection request may be
found at www.reginfo.gov.
Internal Revenue Service
OMB Number: 1545–0001.
Type of Review: Extension of a
currently cleared collection.
Title: Employer’s Annual Railroad
Retirement Tax Return.
Form: CT–1, CT–1X.
Abstract: Railroad employers are
required to file an annual return to
report employer and employee Railroad
Retirement Tax Act (RRTA). Form CT–
1 is used for this purpose. IRS uses the
information to insure that the employer
has paid the correct tax.
Affected Public: Private sector:
Businesses or other for-profit
institutions.
Estimated Total Burden Hours:
39,455.
OMB Number: 1545–0096.
Type of Review: Extension of a
currently cleared collection.
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Title: Form W–2G—Certain Gambling
Winnings.
Form: W–2G.
Abstract: Section 6041 of the Internal
Revenue Code requires payers of certain
gambling winnings to report them to
IRS. If applicable, section 3402(g) and
section 3406 require tax withholding on
these winnings. We use the information
to ensure taxpayers’ reporting
compliance.
Affected Public: Individuals.
Estimated Total Burden Hours:
4,304,877.
OMB Number: 1545–0284.
Type of Review: Extension of a
currently approved collection.
Title: Application for Determination
of Employee Stock Ownership Plan.
Form: 5309.
Abstract: Form 5309 is used in
conjunction with Form 5300 when
applying for a determination letter as to
a deferred compensation plan’s
qualification status under section 409 or
4975(e)(7) of the Internal Revenue Code.
The information is used to determine
whether the plan qualifies.
Affected Public: Private sector:
OMB Number: 1545–0110.
Business or other for-profits.
Type of Review: Revision of a
Estimated Total Burden Hours:
currently approved collection.
26,975.
Title: Form 1099–DIV—Dividends and
OMB Number: 1545–0723.
Distributions.
Type of Review: Extension of a
Form: 1099–DIV.
Abstract: The Form 1099–DIV is used currently approved collection.
Title: T.D. 8043—Manufacturers
by the Service to insure that dividends
Excise Taxes and Sporting Goods and
are properly reported as required by
Firearms and Other Administrative
Code section 6042 and that liquidation
Provisions of Special Application to
distributions are correctly reported as
Manufacturers and Retailers Excise
required by Code section 6043, and to
Taxes.
determine whether payees are correctly
Abstract: This document contains
reporting their income.
final regulations which revise and
Affected Public: Private sector:
update the regulations on manufacturers
Businesses or other for-profit
excise taxes on sporting goods and
institutions.
firearms and other administrative
Estimated Total Burden Hours:
provisions especially applicable to
34,115,874.
manufacturers and retailers excise taxes.
OMB Number: 1545–0152.
The IRS requires information relating to
Type of Review: Extension of a
the sale and use of specified articles be
currently approved collection.
retained by persons claiming credits and
Title: Application for Change in
refunds of tax. In addition, information
Accounting Method.
must be reported to claimants by
Form: 3115.
purchasers of those articles, and
Abstract: Form 3115 is used by
claimants must file claims with the IRS
taxpayers who wish to change their
and supply supporting information with
method of computing their taxable
the claims. The information is necessary
income. The form is used by the IRS to
to verify that claims submitted are
determine if electing taxpayers have met correct and that the claimants are
the requirements and are able to change entitled to receive a credit or refund of
to the method requested.
tax from the IRS.
Affected Public: Private sector:
Affected Public: Private sector:
Business or other for-profits.
Business or other for-profits.
Estimated Total Burden Hours:
Estimated Total Burden Hours:
929,066.
475,000.
OMB Number: 1545–0238.
OMB Number: 1545–0795.
Type of Review: Revision of a
Type of Review: Revision of a
currently approved collection.
currently approved collection.
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Title: Form 1042, Annual
Withholding Tax Return for U.S. Source
Income of Foreign Persons; Form 1042–
S, Foreign Person’s U.S. Source Income
Subject to Withholding, Form 1042–T,
Annual Summary and Transmittal of
Form 1042–S.
Forms: 1042, 1042–S, 1042–T.
Abstract: Form 1042 is used by
withholding agents to report tax
withheld at source on certain income
paid to nonresident alien individuals,
foreign partnerships, and foreign
corporations to the IRS. Form 1042–S is
used by withholding agents to report
income and tax withheld to payees. A
copy of each 1042–S is filed
magnetically or with Form 1042 for
information reporting purposes. The IRS
uses this information to verify that the
correct amount of tax has been withheld
and paid to the United States. Form
1042–T is used by withholding agents to
transmit Forms 1042–S to the IRS.
Affected Public: Private sector:
Business or other for-profits.
Estimated Total Burden Hours:
2,705,594.
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Title: Form 8233—Exemption From
Withholding on Compensation for
Independent (and Certain Dependent)
Personal Services of a Nonresident
Alien Individual.
Form: 8233.
Abstract: Compensation paid to a
nonresident alien (NRA) individual for
independent personal services (selfemployment) is generally subject to
30% withholding or graduated rates.
However, compensation may be exempt
from withholding because of a U.S. tax
treaty or personal exemption amount.
Form 8233 is used to request exemption
from withholding.
Affected Public: Individuals.
Estimated Total Burden Hours:
684,334.
OMB Number: 1545–0863.
Type of Review: Extension of a
currently approved collection.
Title: LR–218–78 (Final) Product
Liability Losses and Accumulations for
Product Liability Losses.
Abstract: Generally, a taxpayer who
sustains a product liability loss must
carry the loss back 10 years. However,
a taxpayer may elect to have such loss
treated as a regular net operating loss
under section 172. If desired, such
election is made by attaching a
statement to the tax return. This
statement will enable the IRS to monitor
compliance with the statutory
requirements.
Affected Public: Private sector:
Business or other for-profits.
Estimated Total Burden Hours: 2,500.
OMB Number: 1545–0922.
Type of Review: Extension of a
currently approved collection.
Title: Form 8329, Lender’s
Information Return for Mortgage Credit
Certificates (MCCs); Form 8330, Issuer’s
Quarterly Information Return for
Mortgage Credit Certificates (MCCs).
Form: 8329, 8330.
Abstract: Form 8329 is used by
lending institutions and Form 8330 is
used by state and local governments to
report on mortgage credit certificates
(MCCs) authorized under IRC Section
25. IRS matches the information
supplied by lenders and issuers to
ensure that the credit is computed
properly.
Affected Public: Private sector:
Business or other for-profits.
Estimated Total Burden Hours:
73,720.
OMB Number: 1545–1100.
Type of Review: Extension of a
currently approved collection.
Title: REG–209106–89 (NPRM)
Changes With Respect to Prizes and
Awards and Employee Achievement
Awards.
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Abstract: This regulation requires
recipients of prizes and awards to
maintain records to determine whether
a qualifying designation has been made.
The affected public are prize and award
recipients who seek to exclude the cost
of a qualifying prize or award.
Affected Public: Individuals.
Estimated Total Burden Hours: 1,275.
OMB Number: 1545–1139.
Type of Review: Extension of a
currently approved collection.
Title: Adjustments to Basis of Stock
and Indebtedness to Shareholders of S
Corporations and Treatment of
Distributions by S Corporations to
Shareholders (TD 9300); TD 9428—
Section 1367 Regarding Open Account
Debt (TD 9428).
Abstract: The regulations provide the
procedures and the statements to be
filed by S corporations for making the
election provided under section 1368,
and by shareholders who choose to
reorder items that decrease their basis.
Statements required to be filled will be
used to verify that taxpayers are
complying with the requirements
imposed by Congress.
Affected Public: Private sector:
Business or other for-profits.
Estimated Total Burden Hours: 450.
OMB Number: 1545–1218.
Type of Review: Extension of a
currently approved collection.
Title: CO–25–96 (TD 8824—Final)
Regulations Under Section 1502 of the
Internal Revenue Code of 1986;
Limitations on Net Operating Loss
Carryforwards and Certain Built-in
Losses and Credits Following.
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.
Affected Public: Private sector:
Business or other for-profits.
Estimated Total Burden Hours: 662.
OMB Number: 1545–1275.
Type of Review: Extension of a
currently approved collection.
Title: Limitations on net operating
loss carryforwards and certain built-in
losses following ownership change.
Abstract: 26 U.S.C. 382 limits the
amount of the taxable income of any
new loss corporation for any postchange year which may be offset by prechange losses, for each such year. 26
CFR 1.382–9(d)(2)(iii) and (d)(4)(iv)
allow a loss corporation to rely on a
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statement by beneficial owners of
indebtedness in determining whether
the loss corporation qualifies under
section 382(l)(1)(5). Section 1.382–
9(d)(6)(ii) requires a loss corporation to
file an election if it wants to apply the
regulations retroactively, or revoke a
prior section 382(l)(1)(6) election.
Affected Public: Private sector:
Business or other for-profits.
Estimated Total Burden Hours: 200.
OMB Number: 1545–1385.
Type of Review: Revision of a
currently approved collection.
Title: TD 8549 (Final) Preparer
Penalties—Manual Signature
Requirement.
Abstract: The reporting requirements
affect returns preparers of fiduciary
returns. They will be required to submit
a list of the names and identifying
numbers of all fiduciary returns which
are being filed with a facsimile signature
of the returns preparer.
Affected Public: Private sector:
Business or other for-profits.
Estimated Total Burden Hours:
24,000.
OMB Number: 1545–1393.
Type of Review: Extension of a
currently approved collection.
Title: EE–14–81 Deductions and
Reductions in Earnings and Profits (or
Accumulated Profits) With Respect to
Certain Foreign Deferred Compensation
Plans Maintained by Certain Foreign
Corporations.
Abstract: The regulation provides
guidance regarding the limitations on
deductions and adjustments to earnings
and profits (or accumulated profits) for
certain foreign deferred compensation
plans. Respondents will be
multinational corporations.
Affected Public: Private sector:
Business or other for-profits.
Estimated Total Burden Hours:
634,450.
OMB Number: 1545–1484.
Type of Review: Extension of a
currently approved collection.
Title: TD 8881 (Final) REG–242282–
97 (formerly Intl–62–90, Intl–32–93,
Intl–52–86, and Intl–52–94) General
Revision of Regulations Relating to
Withholding of Tax on Certain U.S.
Source Income Paid to Foreign.
Abstract: This document contains
regulations relating to the withholding
of income tax under sections 1441,
1442, and 1443 on certain U.S. source
income paid to foreign persons and
related requirements governing
collection, deposit, refunds, and credits
of withheld amounts under sections
1461 through 1463. These regulations
affect persons making payments of U.S.
source income to foreign persons.
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Affected Public: Private sector:
Business or other for-profits.
Estimated Total Burden Hours: 1.
OMB Number: 1545–1488.
Type of Review: Extension of a
currently approved collection.
Title: Requirements Respecting the
Adoption or Change of Accounting
Method, Extensions of Time to Make
Elections. TD 8742—(final).
Abstract: This document contains
final regulations providing the
procedures for requesting an extension
of time to make certain elections under
the Internal Revenue Code. In addition,
the regulations provide the standards
that the Commissioner will use in
determining whether to grant taxpayers
extensions of time to make certain
elections including changes in
accounting method and accounting
period.
Affected Public: Private sector:
Business or other for-profits.
Estimated Total Burden Hours: 5,000.
OMB Number: 1545–1519.
Type of Review: Revision of a
currently approved collection.
Title: Form 1099 LTC—Long-Term
Care and Accelerated Death Benefits.
Form: 1099–LTC.
Abstract: Under the terms of IRC
sections 7702B and 101g, qualified longterm care and accelerated death benefits
paid to chronically ill individuals are
treated as amounts received for
expenses incurred for medical care.
Amounts received on a per diem basis
in excess of $175 per day are taxable.
Section 6050Q requires all such
amounts to be reported.
Affected Public: Private sector:
Business or other for-profits.
Estimated Total Burden Hours:
67,275.
OMB Number: 1545–1633.
Type of Review: Extension of a
currently approved collection.
Title: T.D. 8802—Certain Asset
Transfers to a Tax-Exempt Entity.
Abstract: This document contains
final regulations that implement
provisions of the Tax Reform Act of
1986 and the Technical and
Miscellaneous Revenue Act of 1988.
The final regulations generally affect a
taxable corporation that transfers all or
substantially all of its assets to a taxexempt entity or converts from a taxable
corporation to a tax-exempt entity in a
transaction other than a liquidation, and
generally require the taxable corporation
to recognize gain or loss as if it had sold
the assets transferred at fair market
value.
Affected Public: Private sector:
Business or other for-profits.
Estimated Total Burden Hours: 125.
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OMB Number: 1545–1643.
Type of Review: Extension of a
currently approved collection.
Title: REG–209484–87 (TD 8814 final)
Federal Insurance Contributions Act
(FICA) Taxation of Amounts Under
Employee Benefit Plans.
Abstract: This regulation provides
guidance as to when amounts deferred
under or paid from a nonqualified
deferred compensation plan are taken
into account as wages for purposes of
the employment taxes imposed by the
Federal Insurance Contributions Act
(FICA). Section 31.3121(v)(2)–1(a)(2)
requires that the material terms of a plan
be set forth in writing.
Affected Public: Private sector:
Business or other for-profits.
Estimated Total Burden Hours:
12,500.
OMB Number: 1545–1646.
Type of Review: Extension of a
currently approved collection.
Title: Return Requirement for United
States Persons who acquire or dispose of
an interest in a foreign partnership, or
whose proportional interest in a foreign
partnership changes.
Abstract: This document contains
final regulations under section 6046A of
the Internal Revenue Code relating to
the requirement that United States
persons, in certain circumstances, file a
return if they acquire or dispose of an
interest in a foreign partnership, or if
their proportional interest in a foreign
partnership changes. The burden of
complying with the collection of
information required to be reported on
Form 8865 is reflected in the burden for
Form 8865, ‘‘Return of U.S. Persons
With Respect to Certain Foreign
Partnerships.’’
Affected Public: Private sector:
Business or other for-profits.
Estimated Total Burden Hours: 1.
OMB Number: 1545–1654.
Type of Review: Extension of a
currently approved collection.
Title: T.D. 8902, Capital Gains,
Partnership and Subchapter S, and
Trust Provisions.
Abstract: This document contains
final regulations relating to sales or
exchanges of interests in partnerships, S
corporations, and trusts. The regulations
interpret the look-through provisions of
section 1(h), added by section 311 of the
Taxpayer Relief Act of 1997 and
amended by sections 5001 and 6005(d)
of the Internal Revenue Service
Restructuring and Reform Act of 1998,
and explain the rules relating to the
division of the holding period of a
partnership interest. The regulations
affect partnerships, partners, S
corporations, S corporation
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shareholders, trusts, and trust
beneficiaries.
Affected Public: Private sector:
Business or other for-profits.
Estimated Total Burden Hours: 1.
OMB Number: 1545–1655.
Type of Review: Extension of a
currently approved collection.
Title: T.D. 8861, Private Foundation
Disclosure Rules.
Form: 3115.
Abstract: This document contains
final regulations that amend the
regulations relating to the public
disclosure requirements described in
section 6104(d) of the Internal Revenue
Code. These final regulations implement
changes made by the Tax and Trade
Relief Extension Act of 1998, which
extended to private foundations the
same rules regarding public disclosure
of annual information returns that apply
to other tax-exempt organizations. These
final regulations provide guidance for
private foundations required to make
copies of applications for recognition of
exemption and annual information
returns available for public inspection
and to comply with requests for copies
of those documents.
Affected Public: Private sector: Notfor-profit organizations.
Estimated Total Burden Hours:
32,596.
OMB Number: 1545–1658.
Type of Review: Extension of a
currently approved collection.
Title: T.D. 8940, Purchase Price
Allocations in Deemed Actual Asset
Acquisitions.
Abstract: This document contains
final regulations relating to deemed and
actual asset acquisitions under sections
338 and 1060. The final regulations
affect sellers and buyers of corporate
stock that are eligible to elect to treat the
transaction as a deemed asset
acquisition. The final regulations also
affect sellers and buyers of assets that
constitute a trade or business.
Affected Public: Private sector:
Business or other for-profits.
Estimated Total Burden Hours: 25.
OMB Number: 1545–1686.
Type of Review: Extension of a
currently approved collection.
Title: TD 9352—Material Advisors of
Reportable Transactions must keep lists
of Advisees; Form 13976.
Form: 13976.
Abstract: TD 9352 contains final
regulations under section 6112 of the
Internal Revenue Code providing the
rules relating to the obligation of
material advisors to prepare and
maintain lists with respect to reportable
transactions under section 6112 of the
Internal Revenue Code. Under Section
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301.6112–1(b), the form provides
material advisors a format for preparing
and maintaining the itemized statement
component of the list with respect to a
reportable transaction. This form
contains space for all of the elements
required by regulations section
301.6112–1(b)(3). Material advisors may
use this form as a template for creating
a similar form on a software program
used by the material advisor.
Affected Public: Private sector:
Business or other for-profits.
Estimated Total Burden Hours:
50,000.
OMB Number: 1545–1763.
Type of Review: Extension of a
currently approved collection.
Title: Form 8302—Electronic Deposit
of Tax Refund of $1 Million or more.
Form: 8302.
Abstract: This form is used to request
a electronic deposit of a tax refund of $1
million or more directly into an account
at any U.S. bank or other financial
institution.
Affected Public: Private sector:
Business or other for-profits.
Estimated Total Burden Hours: 1,729.
OMB Number: 1545–1768.
Type of Review: Extension of a
currently approved collection.
Title: Revenue Procedure 2003–84,
Optional Election to Make Monthly Sec.
706 Allocations.
Abstract: This revenue procedure
allows certain partnerships with money
market fund partners to make an
optional election to close the
partnership’s books on a monthly basis
with respect to the money market fund
partners.
Affected Public: Private sector:
Business or other for-profits.
Estimated Total Burden Hours: 500.
OMB Number: 1545–1779.
Type of Review: Extension of a
currently approved collection.
Title: Notice 2002–27—IRA Required
Minimum Distribution Reporting.
Abstract: This notice 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.
Affected Public: Private sector:
Business or other for-profits.
Estimated Total Burden Hours:
1,170,000.
OMB Number: 1545–1784.
Type of Review: Extension of a
currently approved collection.
Title: Rev Proc 2002–32 as Modified
by Rev Proc 2006–21, Waiver of 60month Bar on Reconsolidation after
Disaffiliation.
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Abstract: Revenue Procedure 2002–32
provides qualifying taxpayers with a
waiver of the general rule of
§ 1504(a)(3)(A) of the Internal Revenue
Code barring corporations from filing
consolidated returns as a member of a
group of which it had been a member
for 60 months following the year of
disaffiliation; Revenue Procedure 2006–
21 modifies Rev. Proc. 89–56, 1989–2
C.B. 643, Rev. Proc. 90–39, 1990–2 C.B.
365, and Rev. Proc. 2002–32, 2002–20
IRB p.959, to eliminate impediments to
the electronic filing of Federal income
tax returns (e-filing) and to reduce the
reporting requirements in each of these
revenue procedures.
Affected Public: Private sector:
Business or other for-profits.
Estimated Total Burden Hours: 100.
OMB Number: 1545–1786.
Type of Review: Extension of a
currently approved collection.
Title: Rev. Procs. 2002–39, 2006–45
(Previous 2002–37), 2006–46 (Previous
2002–38) and Rev. Proc 2007–64;
Changes in Periods of Accounting.
Abstract: The collections of
information in these three (3) revenue
procedures is necessary for the
Commissioner to determine whether a
taxpayer may properly obtain approval
to adopt, change, or retain an annual
accounting period.
Affected Public: Private sector:
Business or other for-profits.
Estimated Total Burden Hours: 700.
OMB Number: 1545–1793.
Type of Review: Extension of a
currently approved collection.
Title: Rev. Proc. 2002–43—
Determination of Substitute Agent for a
Consolidated Group.
Abstract: The information is needed
in order for (i) a terminating common
parent of a consolidated group to notify
the IRS that it will terminate and to
designate another corporation to be the
group’s substitute agent, pursuant to
Treas. Reg. Sec. 1.1502–77(d)(1) or Sec.
1.1052–77A(d); (ii) the remaining
members of a consolidated group to
designate a substitute agent pursuant to
Sec. 1.1502–77A(d); (iii) the default
substitute agent to notify the IRS that it
is the default substitute agent pursuant
to Sec. 1.1502–77(d)(2); or (iv) requests
by a member of the group for the IRS to
designate a substitute agent or replace a
previously designated substitute agent.
The IRS will use the information to
determine whether to approve the
designation (if approval is required), to
designate a substitute agent, or to
replace a substitute agent, and to change
the IRS’s records to reflect the name and
other information about the substitute
agent.
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Affected Public: Private sector:
Business or other for-profits.
Estimated Total Burden Hours: 400.
OMB Number: 1545–1795.
Type of Review: Extension of a
currently approved collection.
Title: T.D. 9079—Ten or More
Employer Plan Compliance Information.
Abstract: This document contains
final regulations that provide rules
regarding the requirements for a welfare
benefit fund that is part of a 10 or more
employer plan. The regulations affect
certain employers that provide welfare
benefits to employees through a plan to
which more than one employer
contributes.
Affected Public: Private sector:
Business or other for-profits.
Estimated Total Burden Hours: 2,500.
OMB Number: 1545–1798.
Type of Review: Revision of a
currently approved collection.
Title: User Fee for Exempt
Organization Determination Letter
Request.
Form: 8718.
Abstract: Section 7528 of the Code
directs the Secretary of the Treasury or
delegate (the ‘‘Secretary’’) to establish a
program requiring the payment of user
fees for requests to the Service for letter
rulings, opinion letters, determination
letters, and similar requests. Form 8718,
User Fee for Exempt Organization
Determination Letter Request, was
created as a result of The Omnibus
Reconciliation Act of 1990 which
requires payment of a ‘‘user fee’’ with
each application for a determination
letter. Form 8718 provides filers with
the means to enclose their user fee
payment and indicate what type of
request they are making.
Affected Public: Private sector:
Business or other for-profits.
Estimated Total Burden Hours: 719.
OMB Number: 1545–1910.
Type of Review: Extension of a
currently approved collection.
Title: Information Return of U.S.
Persons With Respect To Foreign
Disregarded Entities (Form 8858); and
Transactions Between Foreign
Disregarded Entity of a Foreign Tax
Owner and the Filer.
Form: 8858.
Abstract: Form 8858 and Schedule M
(Form 8858) are used by certain U.S.
persons that own a foreign disregarded
entity (FDE) directly or, in certain
circumstances, indirectly or
constructively.
Affected Public: Private sector:
Business or other for-profits.
Estimated Total Burden Hours:
1,832,500.
OMB Number: 1545–1930.
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Type of Review: Extension of a
currently approved collection.
Title: T.D. 9248—Residence and
Source Rules Involving U.S. Possessions
and Other Conforming Changes (Final
and Temporary).
Abstract: T.D. 9248 contains final
regulations that provide rules for
determining bona fide residency in the
following U.S. possessions: American
Samoa, Guam, the Northern Mariana
Islands, Puerto Rico, and the United
States Virgin Islands under sections
937(a) and 881(b) of the Internal
Revenue Code (Code).
Affected Public: Individuals.
Estimated Total Burden Hours:
300,000.
OMB Number: 1545–1934.
Type of Review: Extension of a
currently approved collection.
Title: TD 9394 (REG–108524–00)
(Final)—Section 1446 Regulations; Form
8804–C—Certificate of Partner-Level
Items to Reduce Section 1446
Withholding.
Form: 8804–C.
Abstract: This regulations implements
withholding regime on partnerships
conducting business in the United
States that have foreign partners. Such
partners are required to pay withholding
tax in installments on each foreign
partner’s allocable share of the
partnership’s U.S. Business taxable
income. Special rules for publicly
traded partnerships such that these
partnerships pay withholding tax on
distributions to foreign partners.
Affected Public: Private sector:
Business or other for-profits.
Estimated Total Burden Hours:
18,701.
OMB Number: 1545–1946.
Type of Review: Extension of a
currently approved collection.
Title: T.D. 9315 (Final) Dual
Consolidated Loss Regulations.
Abstract: This document contains
final regulations under section 1503(d)
of the Internal Revenue Code (Code)
regarding dual consolidated losses.
Section 1503(d) generally provides that
a dual consolidated loss of a dual
resident corporation cannot reduce the
taxable income of any other member of
the affiliated group unless, to the extent
provided in regulations, the loss does
not offset the income of any foreign
corporation. Similar rules apply to
losses of separate units of domestic
corporations. These final regulations
address various dual consolidated loss
issues, including exceptions to the
general prohibition against using a dual
consolidated loss to reduce the taxable
income of any other member of the
affiliated group.
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Affected Public: Private sector:
Business or other for-profits.
Estimated Total Burden Hours: 2,765.
OMB Number: 1545–2099.
Type of Review: Extension of a
currently approved collection.
Title: Excise Tax on Certain Transfers
of Qualifying Geothermal or Mineral
Interests.
Form: 8924.
Abstract: Form 8924, Excise Tax on
Certain Transfers of Qualifying
Geothermal or Mineral Interests, is
required by Section 403 of the Tax
Relief and Health Care Act of 2006
which imposes an excise tax on certain
transfers of qualifying mineral or
geothermal interests.
Affected Public: Private sector:
Business or other for-profits.
Estimated Total Burden Hours: 111.
OMB Number: 1545–1364.
Type of Review: Extension of a
currently approved collection.
Title: TD 9568—Section 482 Methods
to Determine Taxable Income in
Connection with a Cost Sharing
Arrangement.
Abstract: This document contains
final regulations regarding methods to
determine taxable income in connection
with a cost sharing arrangement under
section 482 of the Internal Revenue
Code (Code). The final regulations
address issues that have arisen in
administering the current cost sharing
regulations. The final regulations affect
domestic and foreign entities that enter
into cost sharing arrangements
described in the final regulations.
Affected Public: Private sector:
Business or other for-profits.
Estimated Total Burden Hours: 9,350.
OMB Number: 1545–1518.
Type of Review: Revision of a
currently approved collection.
Title: HSA, Archer MSA, or Medicare
Advantage MSA Information.
Form: 5498–SA 2014, 5498–SA 2015.
Abstract: Section 220(h) requires
trustees to report to the IRS and medical
savings account holders contributions to
and the year-end fair market value of
any contributions made to a medical
savings account (MSA). Congress
requires Treasury to report to them the
total contributions made to an MSA for
the current tax year. Section 1201 of the
Medicare Prescription Drug,
Improvement, and Modernization Act of
2003 (P.L. 108–173) created new Code
section 223. Section 223(h) requires the
reporting of contributions to and the
year-end fair market value of health
savings accounts for tax years beginning
after December 31, 2003.
Affected Public: Private sector:
Business or other for-profits.
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Estimated Total Burden Hours: 1,559.
OMB Number: 1545–1581.
Type of Review: Extension of a
currently approved collection.
Title: T.D. 8812 Continuation
Coverage Requirements Applicable to
Group Health Plans.
Abstract: The regulations require
group health plans to provide notices to
individuals who are entitled to elect
COBRA (The Consolidated Omnibus
Budget Reconciliation Act of 1985)
continuation coverage of their election
rights. Individuals who wish to obtain
the benefits provided under the statute
are required to provide plans notices in
the cases of divorce from the covered
employee, a dependent child’s ceasing
to be dependent under the terms of the
plan, and disability. Most plans will
require that elections of COBRA
continuation coverage be made in
writing. In cases where qualified
beneficiaries are short by an
insignificant amount in a payment made
to the plan, the regulations require the
plan to notify the qualified beneficiary
if the plan does not wish to treat the
tendered payment as full payment. If a
health care provider contacts a plan to
confirm coverage of a qualified
beneficiary, the regulations require that
the plan disclose the qualified
beneficiary’s complete rights to
coverage.
Affected Public: Private sector:
Business or other for-profits.
Estimated Total Burden Hours:
404,640.
OMB Number: 1545–1648.
Type of Review: Revision of a
currently approved collection.
Title: Publication 3319—Low-Income
Taxpayer Clinic Grant Application
Package and Guidelines; Grant Web site.
Abstract: Publication 3319 is the grant
application and program requirements
for our external customers, non-profits,
legal aid societies, universities, law
schools, and will be used by anyone in
the U.S. and territories to apply for a
low income taxpayer grant. There is a
Web site which collects the information.
Affected Public: Private sector:
Business or other for-profits.
Estimated Total Burden Hours: 9,000.
OMB Number: 1545–1765.
Type of Review: Extension of a
currently approved collection.
Title: T.D. 9171, New Markets Tax
Credit.
Abstract: The regulations provide
guidance for taxpayers claiming the new
markets tax credit under section 45D of
the Internal Revenue Code. The
reporting requirements in the
regulations require a qualified
community development entity (CDE) to
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78571
provide written notice to: (1) Any
taxpayer who acquires an equity
investment in the CDE at its original
issue that the equity investment is a
qualified equity investment entitling the
taxpayer to claim the new markets tax
credits; and (2) each holder of a
qualified equity investment, including
all prior holders of that investment that
a recapture event has occurred. CDE’s
must comply with such reporting
requirements to the Secretary as the
Secretary may prescribe.
Affected Public: Private sector:
Business or other for-profits.
Estimated Total Burden Hours: 210.
OMB Number: 1545–1776.
Type of Review: Extension of a
currently approved collection.
Title: Form 1041–N—U.S. Income Tax
Return for Electing Alaska Native
Settlement Trusts.
Form: 1041–N.
Abstract: An Alaska Native
Settlement Trust (ANST) may elect
under section 646 to have the special
income tax treatment of that section
apply to the trust and its beneficiaries.
This one-time election is made by filing
Form 1041–N. Form 1041–N is used by
the ANST to report its income, etc., and
to compute and pay any income tax.
Form 1041–N is also used for the special
information reporting requirements that
apply to ANSTs.
Affected Public: Private sector:
Business or other for-profits.
Estimated Total Burden Hours: 700.
OMB Number: 1545–1792.
Type of Review: Extension of a
currently approved collection.
Title: REG–164754–01 (FINAL) SplitDollar Life Insurance Arrangements.
Abstract: The final regulations
provide guidance for loans made
pursuant to a split-dollar life insurance
arrangement. To obtain a particular
treatment under the regulations for
certain split-dollar loans, the parties to
the loan must make a written
representation, which must be kept as
part of their books and records and a
copy filed with their federal income tax
returns. In addition, if a split-dollar loan
provides for contingent payments, the
lender must produce a projected
payment schedule for the loan and give
the borrower a copy of the schedule.
This schedule is used by parties to
compute their interest accruals and any
imputed transfers for tax purposes.
Affected Public: Private sector:
Business or other for-profits.
Estimated Total Burden Hours:
32,500.
OMB Number: 1545–1919.
Type of Review: Extension of a
currently approved collection.
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Title: Prior Government Service
Information.
Form: 12854.
Abstract: This product is used to
identify applicants who have had prior
government services in order to request
the OPF from federal records and to
identify possible pay setting issues.
Affected Public: Individuals.
Estimated Total Burden Hours: 6,203.
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OMB Number: 1545–2129.
Type of Review: Extension of a
currently approved collection.
Title: REG–103146–08—Information
Reporting Requirements Under Code
Sec. 6039.
Form: 3921, 3922.
Abstract: Form 3921 is a copy of the
information return filed with the IRS
which transferred shares of stock to a
recipient through exercise of an
incentive stock option under section
422(b). Form 3922 is used to record a
transfer of the legal title of a share of
stock acquired by the employee where
the stock was acquired pursuant to the
exercise of an option described in
section 423(c). REG–103146–08 reflects
the changes to section 6039 of the
Internal Revenue Code made by section
403 of the Tax Relief and Health Care
Act of 2006.
Affected Public: Private sector:
Business or other for-profits.
Estimated Total Burden Hours:
25,205.
OMB Number: 1545–2183.
Type of Review: Extension of a
currently approved collection.
Title: Transfers by Domestic
Corporations That Are Subject to
Section 367(a)(5); Distributions by
Domestic Corporations That Are Subject
to Section 1248(f). (TD 9614 & 9615).
Abstract: The income tax regulations
under section 367(a) reflect changes by
the Technical and Miscellaneous
Corrections Act of 1988. Section
367(a)(5) provides that a transfer of
assets to a foreign corporation in an
exchange described in section 361 is
subject to section 367(a)(1), unless
certain ownership requirements and
other conditions are met.
Affected Public: Private sector:
Business or other for-profits.
Estimated Total Burden Hours: 3,260.
Robert Dahl,
Treasury PRA Clearance Officer.
[FR Doc. 2014–30376 Filed 12–29–14; 8:45 am]
BILLING CODE 4830–01–P
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DEPARTMENT OF THE TREASURY
Bureau of the Fiscal Service
Proposed Collection of Information:
Annual Letters—Certificates of
Authority (A) and Admitted Reinsurer
Notice and request for
comments.
ACTION:
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 a proposed
and/or continuing information
collection, as required by the Paperwork
Reduction Act of 1995, Public Law 104–
13 (44 U.S.C. 3506(c)(2)(A)). Currently
the Bureau of the Fiscal Service within
the Department of the Treasury is
soliciting comments concerning the
‘‘Annual Letters—Certificates of
Authority (A) and Admitted Reinsurer’’.
DATES: Written comments should be
received on or before March 2, 2015 to
be assured of consideration.
ADDRESSES: Direct all written comments
to Bureau of the Fiscal Service, Bruce A.
Sharp, 200 Third Street A4–A,
Parkersburg, WV 26106–1328, or
bruce.sharp@fiscal.treasury.gov.
FOR FURTHER INFORMATION CONTACT:
Requests for additional information or
copies should be directed to Melvin
Saunders, Program Manager, Surety
Bonds, 3700 East West Highway, Room
632F, Hyattsville, MD 20782, (202) 874–
5283.
SUPPLEMENTARY INFORMATION:
Title: Annual Letters—Certificates of
Authority (A) and Admitted Reinsurer.
OMB Number: 1530–0014 (Previously
approved as 1510–0057 as a collection
conducted by Department of the
Treasury/Financial Management
Service.)
Transfer of OMB Control Number:
The Bureau of Public Debt (BPD) and
the Financial Management Service
(FMS) have consolidated to become the
Bureau of the Fiscal Service (Fiscal
Service). Information collection requests
previously held separately by BPD and
FMS will now be identified by a 1530
prefix, designating Fiscal Service.
Abstract: This letter is used to collect
information from companies to assist
the Treasury Department in determining
acceptability and solvency to write or
reinsure Federal surety bonds.
Current Actions: Extension of a
currently approved collection.
Type of Review: Regular.
Affected Public: Business or other forprofit.
SUMMARY:
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Estimated Number of Respondents:
341.
Estimated Time per Respondent:
39.75 hours.
Estimated Total Annual Burden
Hours: 13,555.
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.
Dated: December 23, 2014.
Bruce A. Sharp,
Bureau Clearance Officer.
[FR Doc. 2014–30522 Filed 12–29–14; 8:45 am]
BILLING CODE 4810–AS–P
DEPARTMENT OF VETERANS
AFFAIRS
[OMB Control No. 2900–0565]
Agency Information Collection (State
Application for Interment Allowance):
Activity Under OMB Review
Veterans Benefits
Administration, Department of Veterans
Affairs.
ACTION: Notice.
AGENCY:
In compliance with the
Paperwork Reduction Act (PRA) of 1995
(44 U.S.C. 3501–3521), this notice
announces that the Veterans Benefits
Administration (VBA), Department of
Veterans Affairs, will submit the
collection of information abstracted
below to the Office of Management and
Budget (OMB) for review and comment.
The PRA submission describes the
nature of the information collection and
its expected cost and burden; it includes
the actual data collection instrument.
DATES: Comments must be submitted on
or before January 29, 2015.
ADDRESSES: Submit written comments
on the collection of information through
SUMMARY:
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]]>Agencies
[Federal Register Volume 79, Number 249 (Tuesday, December 30, 2014)]
[Notices]
[Pages 78566-78572]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-30376]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Submission for OMB Review; Comment Request
December 22, 2014.
The Department of the Treasury will submit the following
information collection request to the Office of Management and Budget
(OMB) for review and clearance in accordance with the Paperwork
Reduction Act of 1995, Public Law 104-13, on or after the date of
publication of this notice.
DATES: Comments should be received on or before January 29, 2015 to be
assured of consideration.
ADDRESSES: Send comments regarding the burden estimate, or any other
aspect of the information collection, including suggestion for reducing
the burden, to (1) Office of Information and Regulatory Affairs, Office
of Management and Budget, Attention: Desk Officer for Treasury, New
Executive Office Building, Room 10235, Washington, DC 20503, or email
at OIRA_Submission@OMB.EOP.GOV and (2) Treasury PRA Clearance Officer,
1750 Pennsylvania Ave. NW., Suite 8140, Washington, DC 20220, or email
at PRA@treasury.gov.
FOR FURTHER INFORMATION CONTACT: Copies of the submission(s) may be
obtained by calling (202) 927-5331, email at PRA@treasury.gov, or the
entire information collection request may be found at www.reginfo.gov.
Internal Revenue Service
OMB Number: 1545-0001.
Type of Review: Extension of a currently cleared collection.
Title: Employer's Annual Railroad Retirement Tax Return.
Form: CT-1, CT-1X.
Abstract: Railroad employers are required to file an annual return
to report employer and employee Railroad Retirement Tax Act (RRTA).
Form CT-1 is used for this purpose. IRS uses the information to insure
that the employer has paid the correct tax.
Affected Public: Private sector: Businesses or other for-profit
institutions.
Estimated Total Burden Hours: 39,455.
OMB Number: 1545-0096.
Type of Review: Extension of a currently cleared collection.
[[Page 78567]]
Title: Form 1042, Annual Withholding Tax Return for U.S. Source
Income of Foreign Persons; Form 1042-S, Foreign Person's U.S. Source
Income Subject to Withholding, Form 1042-T, Annual Summary and
Transmittal of Form 1042-S.
Forms: 1042, 1042-S, 1042-T.
Abstract: Form 1042 is used by withholding agents to report tax
withheld at source on certain income paid to nonresident alien
individuals, foreign partnerships, and foreign corporations to the IRS.
Form 1042-S is used by withholding agents to report income and tax
withheld to payees. A copy of each 1042-S is filed magnetically or with
Form 1042 for information reporting purposes. The IRS uses this
information to verify that the correct amount of tax has been withheld
and paid to the United States. Form 1042-T is used by withholding
agents to transmit Forms 1042-S to the IRS.
Affected Public: Private sector: Business or other for-profits.
Estimated Total Burden Hours: 2,705,594.
OMB Number: 1545-0110.
Type of Review: Revision of a currently approved collection.
Title: Form 1099-DIV--Dividends and Distributions.
Form: 1099-DIV.
Abstract: The Form 1099-DIV is used by the Service to insure that
dividends are properly reported as required by Code section 6042 and
that liquidation distributions are correctly reported as required by
Code section 6043, and to determine whether payees are correctly
reporting their income.
Affected Public: Private sector: Businesses or other for-profit
institutions.
Estimated Total Burden Hours: 34,115,874.
OMB Number: 1545-0152.
Type of Review: Extension of a currently approved collection.
Title: Application for Change in Accounting Method.
Form: 3115.
Abstract: Form 3115 is used by taxpayers who wish to change their
method of computing their taxable income. The form is used by the IRS
to determine if electing taxpayers have met the requirements and are
able to change to the method requested.
Affected Public: Private sector: Business or other for-profits.
Estimated Total Burden Hours: 929,066.
OMB Number: 1545-0238.
Type of Review: Revision of a currently approved collection.
Title: Form W-2G--Certain Gambling Winnings.
Form: W-2G.
Abstract: Section 6041 of the Internal Revenue Code requires payers
of certain gambling winnings to report them to IRS. If applicable,
section 3402(g) and section 3406 require tax withholding on these
winnings. We use the information to ensure taxpayers' reporting
compliance.
Affected Public: Individuals.
Estimated Total Burden Hours: 4,304,877.
OMB Number: 1545-0284.
Type of Review: Extension of a currently approved collection.
Title: Application for Determination of Employee Stock Ownership
Plan.
Form: 5309.
Abstract: Form 5309 is used in conjunction with Form 5300 when
applying for a determination letter as to a deferred compensation
plan's qualification status under section 409 or 4975(e)(7) of the
Internal Revenue Code. The information is used to determine whether the
plan qualifies.
Affected Public: Private sector: Business or other for-profits.
Estimated Total Burden Hours: 26,975.
OMB Number: 1545-0723.
Type of Review: Extension of a currently approved collection.
Title: T.D. 8043--Manufacturers Excise Taxes and Sporting Goods and
Firearms and Other Administrative Provisions of Special Application to
Manufacturers and Retailers Excise Taxes.
Abstract: This document contains final regulations which revise and
update the regulations on manufacturers excise taxes on sporting goods
and firearms and other administrative provisions especially applicable
to manufacturers and retailers excise taxes. The IRS requires
information relating to the sale and use of specified articles be
retained by persons claiming credits and refunds of tax. In addition,
information must be reported to claimants by purchasers of those
articles, and claimants must file claims with the IRS and supply
supporting information with the claims. The information is necessary to
verify that claims submitted are correct and that the claimants are
entitled to receive a credit or refund of tax from the IRS.
Affected Public: Private sector: Business or other for-profits.
Estimated Total Burden Hours: 475,000.
OMB Number: 1545-0795.
Type of Review: Revision of a currently approved collection.
Title: Form 8233--Exemption From Withholding on Compensation for
Independent (and Certain Dependent) Personal Services of a Nonresident
Alien Individual.
Form: 8233.
Abstract: Compensation paid to a nonresident alien (NRA) individual
for independent personal services (self-employment) is generally
subject to 30% withholding or graduated rates. However, compensation
may be exempt from withholding because of a U.S. tax treaty or personal
exemption amount. Form 8233 is used to request exemption from
withholding.
Affected Public: Individuals.
Estimated Total Burden Hours: 684,334.
OMB Number: 1545-0863.
Type of Review: Extension of a currently approved collection.
Title: LR-218-78 (Final) Product Liability Losses and Accumulations
for Product Liability Losses.
Abstract: Generally, a taxpayer who sustains a product liability
loss must carry the loss back 10 years. However, a taxpayer may elect
to have such loss treated as a regular net operating loss under section
172. If desired, such election is made by attaching a statement to the
tax return. This statement will enable the IRS to monitor compliance
with the statutory requirements.
Affected Public: Private sector: Business or other for-profits.
Estimated Total Burden Hours: 2,500.
OMB Number: 1545-0922.
Type of Review: Extension of a currently approved collection.
Title: Form 8329, Lender's Information Return for Mortgage Credit
Certificates (MCCs); Form 8330, Issuer's Quarterly Information Return
for Mortgage Credit Certificates (MCCs).
Form: 8329, 8330.
Abstract: Form 8329 is used by lending institutions and Form 8330
is used by state and local governments to report on mortgage credit
certificates (MCCs) authorized under IRC Section 25. IRS matches the
information supplied by lenders and issuers to ensure that the credit
is computed properly.
Affected Public: Private sector: Business or other for-profits.
Estimated Total Burden Hours: 73,720.
OMB Number: 1545-1100.
Type of Review: Extension of a currently approved collection.
Title: REG-209106-89 (NPRM) Changes With Respect to Prizes and
Awards and Employee Achievement Awards.
[[Page 78568]]
Abstract: This regulation requires recipients of prizes and awards
to maintain records to determine whether a qualifying designation has
been made. The affected public are prize and award recipients who seek
to exclude the cost of a qualifying prize or award.
Affected Public: Individuals.
Estimated Total Burden Hours: 1,275.
OMB Number: 1545-1139.
Type of Review: Extension of a currently approved collection.
Title: Adjustments to Basis of Stock and Indebtedness to
Shareholders of S Corporations and Treatment of Distributions by S
Corporations to Shareholders (TD 9300); TD 9428--Section 1367 Regarding
Open Account Debt (TD 9428).
Abstract: The regulations provide the procedures and the statements
to be filed by S corporations for making the election provided under
section 1368, and by shareholders who choose to reorder items that
decrease their basis. Statements required to be filled will be used to
verify that taxpayers are complying with the requirements imposed by
Congress.
Affected Public: Private sector: Business or other for-profits.
Estimated Total Burden Hours: 450.
OMB Number: 1545-1218.
Type of Review: Extension of a currently approved collection.
Title: CO-25-96 (TD 8824--Final) Regulations Under Section 1502 of
the Internal Revenue Code of 1986; Limitations on Net Operating Loss
Carryforwards and Certain Built-in Losses and Credits Following.
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.
Affected Public: Private sector: Business or other for-profits.
Estimated Total Burden Hours: 662.
OMB Number: 1545-1275.
Type of Review: Extension of a currently approved collection.
Title: Limitations on net operating loss carryforwards and certain
built-in losses following ownership change.
Abstract: 26 U.S.C. 382 limits the amount of the taxable income of
any new loss corporation for any post-change year which may be offset
by pre-change losses, for each such year. 26 CFR 1.382-9(d)(2)(iii) and
(d)(4)(iv) allow a loss corporation to rely on a statement by
beneficial owners of indebtedness in determining whether the loss
corporation qualifies under section 382(l)(1)(5). Section 1.382-
9(d)(6)(ii) requires a loss corporation to file an election if it wants
to apply the regulations retroactively, or revoke a prior section
382(l)(1)(6) election.
Affected Public: Private sector: Business or other for-profits.
Estimated Total Burden Hours: 200.
OMB Number: 1545-1385.
Type of Review: Revision of a currently approved collection.
Title: TD 8549 (Final) Preparer Penalties--Manual Signature
Requirement.
Abstract: The reporting requirements affect returns preparers of
fiduciary returns. They will be required to submit a list of the names
and identifying numbers of all fiduciary returns which are being filed
with a facsimile signature of the returns preparer.
Affected Public: Private sector: Business or other for-profits.
Estimated Total Burden Hours: 24,000.
OMB Number: 1545-1393.
Type of Review: Extension of a currently approved collection.
Title: EE-14-81 Deductions and Reductions in Earnings and Profits
(or Accumulated Profits) With Respect to Certain Foreign Deferred
Compensation Plans Maintained by Certain Foreign Corporations.
Abstract: The regulation provides guidance regarding the
limitations on deductions and adjustments to earnings and profits (or
accumulated profits) for certain foreign deferred compensation plans.
Respondents will be multinational corporations.
Affected Public: Private sector: Business or other for-profits.
Estimated Total Burden Hours: 634,450.
OMB Number: 1545-1484.
Type of Review: Extension of a currently approved collection.
Title: TD 8881 (Final) REG-242282-97 (formerly Intl-62-90, Intl-32-
93, Intl-52-86, and Intl-52-94) General Revision of Regulations
Relating to Withholding of Tax on Certain U.S. Source Income Paid to
Foreign.
Abstract: This document contains regulations relating to the
withholding of income tax under sections 1441, 1442, and 1443 on
certain U.S. source income paid to foreign persons and related
requirements governing collection, deposit, refunds, and credits of
withheld amounts under sections 1461 through 1463. These regulations
affect persons making payments of U.S. source income to foreign
persons.
Affected Public: Private sector: Business or other for-profits.
Estimated Total Burden Hours: 1.
OMB Number: 1545-1488.
Type of Review: Extension of a currently approved collection.
Title: Requirements Respecting the Adoption or Change of Accounting
Method, Extensions of Time to Make Elections. TD 8742--(final).
Abstract: This document contains final regulations providing the
procedures for requesting an extension of time to make certain
elections under the Internal Revenue Code. In addition, the regulations
provide the standards that the Commissioner will use in determining
whether to grant taxpayers extensions of time to make certain elections
including changes in accounting method and accounting period.
Affected Public: Private sector: Business or other for-profits.
Estimated Total Burden Hours: 5,000.
OMB Number: 1545-1519.
Type of Review: Revision of a currently approved collection.
Title: Form 1099 LTC--Long-Term Care and Accelerated Death
Benefits.
Form: 1099-LTC.
Abstract: Under the terms of IRC sections 7702B and 101g, qualified
long- term care and accelerated death benefits paid to chronically ill
individuals are treated as amounts received for expenses incurred for
medical care. Amounts received on a per diem basis in excess of $175
per day are taxable. Section 6050Q requires all such amounts to be
reported.
Affected Public: Private sector: Business or other for-profits.
Estimated Total Burden Hours: 67,275.
OMB Number: 1545-1633.
Type of Review: Extension of a currently approved collection.
Title: T.D. 8802--Certain Asset Transfers to a Tax-Exempt Entity.
Abstract: This document contains final regulations that implement
provisions of the Tax Reform Act of 1986 and the Technical and
Miscellaneous Revenue Act of 1988. The final regulations generally
affect a taxable corporation that transfers all or substantially all of
its assets to a tax-exempt entity or converts from a taxable
corporation to a tax-exempt entity in a transaction other than a
liquidation, and generally require the taxable corporation to recognize
gain or loss as if it had sold the assets transferred at fair market
value.
Affected Public: Private sector: Business or other for-profits.
Estimated Total Burden Hours: 125.
[[Page 78569]]
OMB Number: 1545-1643.
Type of Review: Extension of a currently approved collection.
Title: REG-209484-87 (TD 8814 final) Federal Insurance
Contributions Act (FICA) Taxation of Amounts Under Employee Benefit
Plans.
Abstract: This regulation provides guidance as to when amounts
deferred under or paid from a nonqualified deferred compensation plan
are taken into account as wages for purposes of the employment taxes
imposed by the Federal Insurance Contributions Act (FICA). Section
31.3121(v)(2)-1(a)(2) requires that the material terms of a plan be set
forth in writing.
Affected Public: Private sector: Business or other for-profits.
Estimated Total Burden Hours: 12,500.
OMB Number: 1545-1646.
Type of Review: Extension of a currently approved collection.
Title: Return Requirement for United States Persons who acquire or
dispose of an interest in a foreign partnership, or whose proportional
interest in a foreign partnership changes.
Abstract: This document contains final regulations under section
6046A of the Internal Revenue Code relating to the requirement that
United States persons, in certain circumstances, file a return if they
acquire or dispose of an interest in a foreign partnership, or if their
proportional interest in a foreign partnership changes. The burden of
complying with the collection of information required to be reported on
Form 8865 is reflected in the burden for Form 8865, ``Return of U.S.
Persons With Respect to Certain Foreign Partnerships.''
Affected Public: Private sector: Business or other for-profits.
Estimated Total Burden Hours: 1.
OMB Number: 1545-1654.
Type of Review: Extension of a currently approved collection.
Title: T.D. 8902, Capital Gains, Partnership and Subchapter S, and
Trust Provisions.
Abstract: This document contains final regulations relating to
sales or exchanges of interests in partnerships, S corporations, and
trusts. The regulations interpret the look-through provisions of
section 1(h), added by section 311 of the Taxpayer Relief Act of 1997
and amended by sections 5001 and 6005(d) of the Internal Revenue
Service Restructuring and Reform Act of 1998, and explain the rules
relating to the division of the holding period of a partnership
interest. The regulations affect partnerships, partners, S
corporations, S corporation shareholders, trusts, and trust
beneficiaries.
Affected Public: Private sector: Business or other for-profits.
Estimated Total Burden Hours: 1.
OMB Number: 1545-1655.
Type of Review: Extension of a currently approved collection.
Title: T.D. 8861, Private Foundation Disclosure Rules.
Form: 3115.
Abstract: This document contains final regulations that amend the
regulations relating to the public disclosure requirements described in
section 6104(d) of the Internal Revenue Code. These final regulations
implement changes made by the Tax and Trade Relief Extension Act of
1998, which extended to private foundations the same rules regarding
public disclosure of annual information returns that apply to other
tax-exempt organizations. These final regulations provide guidance for
private foundations required to make copies of applications for
recognition of exemption and annual information returns available for
public inspection and to comply with requests for copies of those
documents.
Affected Public: Private sector: Not-for-profit organizations.
Estimated Total Burden Hours: 32,596.
OMB Number: 1545-1658.
Type of Review: Extension of a currently approved collection.
Title: T.D. 8940, Purchase Price Allocations in Deemed Actual Asset
Acquisitions.
Abstract: This document contains final regulations relating to
deemed and actual asset acquisitions under sections 338 and 1060. The
final regulations affect sellers and buyers of corporate stock that are
eligible to elect to treat the transaction as a deemed asset
acquisition. The final regulations also affect sellers and buyers of
assets that constitute a trade or business.
Affected Public: Private sector: Business or other for-profits.
Estimated Total Burden Hours: 25.
OMB Number: 1545-1686.
Type of Review: Extension of a currently approved collection.
Title: TD 9352--Material Advisors of Reportable Transactions must
keep lists of Advisees; Form 13976.
Form: 13976.
Abstract: TD 9352 contains final regulations under section 6112 of
the Internal Revenue Code providing the rules relating to the
obligation of material advisors to prepare and maintain lists with
respect to reportable transactions under section 6112 of the Internal
Revenue Code. Under Section 301.6112-1(b), the form provides material
advisors a format for preparing and maintaining the itemized statement
component of the list with respect to a reportable transaction. This
form contains space for all of the elements required by regulations
section 301.6112-1(b)(3). Material advisors may use this form as a
template for creating a similar form on a software program used by the
material advisor.
Affected Public: Private sector: Business or other for-profits.
Estimated Total Burden Hours: 50,000.
OMB Number: 1545-1763.
Type of Review: Extension of a currently approved collection.
Title: Form 8302--Electronic Deposit of Tax Refund of $1 Million or
more.
Form: 8302.
Abstract: This form is used to request a electronic deposit of a
tax refund of $1 million or more directly into an account at any U.S.
bank or other financial institution.
Affected Public: Private sector: Business or other for-profits.
Estimated Total Burden Hours: 1,729.
OMB Number: 1545-1768.
Type of Review: Extension of a currently approved collection.
Title: Revenue Procedure 2003-84, Optional Election to Make Monthly
Sec. 706 Allocations.
Abstract: This revenue procedure allows certain partnerships with
money market fund partners to make an optional election to close the
partnership's books on a monthly basis with respect to the money market
fund partners.
Affected Public: Private sector: Business or other for-profits.
Estimated Total Burden Hours: 500.
OMB Number: 1545-1779.
Type of Review: Extension of a currently approved collection.
Title: Notice 2002-27--IRA Required Minimum Distribution Reporting.
Abstract: This notice 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.
Affected Public: Private sector: Business or other for-profits.
Estimated Total Burden Hours: 1,170,000.
OMB Number: 1545-1784.
Type of Review: Extension of a currently approved collection.
Title: Rev Proc 2002-32 as Modified by Rev Proc 2006-21, Waiver of
60-month Bar on Reconsolidation after Disaffiliation.
[[Page 78570]]
Abstract: Revenue Procedure 2002-32 provides qualifying taxpayers
with a waiver of the general rule of Sec. 1504(a)(3)(A) of the
Internal Revenue Code barring corporations from filing consolidated
returns as a member of a group of which it had been a member for 60
months following the year of disaffiliation; Revenue Procedure 2006-21
modifies Rev. Proc. 89-56, 1989-2 C.B. 643, Rev. Proc. 90-39, 1990-2
C.B. 365, and Rev. Proc. 2002-32, 2002-20 IRB p.959, to eliminate
impediments to the electronic filing of Federal income tax returns (e-
filing) and to reduce the reporting requirements in each of these
revenue procedures.
Affected Public: Private sector: Business or other for-profits.
Estimated Total Burden Hours: 100.
OMB Number: 1545-1786.
Type of Review: Extension of a currently approved collection.
Title: Rev. Procs. 2002-39, 2006-45 (Previous 2002-37), 2006-46
(Previous 2002-38) and Rev. Proc 2007-64; Changes in Periods of
Accounting.
Abstract: The collections of information in these three (3) revenue
procedures is necessary for the Commissioner to determine whether a
taxpayer may properly obtain approval to adopt, change, or retain an
annual accounting period.
Affected Public: Private sector: Business or other for-profits.
Estimated Total Burden Hours: 700.
OMB Number: 1545-1793.
Type of Review: Extension of a currently approved collection.
Title: Rev. Proc. 2002-43--Determination of Substitute Agent for a
Consolidated Group.
Abstract: The information is needed in order for (i) a terminating
common parent of a consolidated group to notify the IRS that it will
terminate and to designate another corporation to be the group's
substitute agent, pursuant to Treas. Reg. Sec. 1.1502-77(d)(1) or Sec.
1.1052-77A(d); (ii) the remaining members of a consolidated group to
designate a substitute agent pursuant to Sec. 1.1502-77A(d); (iii) the
default substitute agent to notify the IRS that it is the default
substitute agent pursuant to Sec. 1.1502-77(d)(2); or (iv) requests by
a member of the group for the IRS to designate a substitute agent or
replace a previously designated substitute agent. The IRS will use the
information to determine whether to approve the designation (if
approval is required), to designate a substitute agent, or to replace a
substitute agent, and to change the IRS's records to reflect the name
and other information about the substitute agent.
Affected Public: Private sector: Business or other for-profits.
Estimated Total Burden Hours: 400.
OMB Number: 1545-1795.
Type of Review: Extension of a currently approved collection.
Title: T.D. 9079--Ten or More Employer Plan Compliance Information.
Abstract: This document contains final regulations that provide
rules regarding the requirements for a welfare benefit fund that is
part of a 10 or more employer plan. The regulations affect certain
employers that provide welfare benefits to employees through a plan to
which more than one employer contributes.
Affected Public: Private sector: Business or other for-profits.
Estimated Total Burden Hours: 2,500.
OMB Number: 1545-1798.
Type of Review: Revision of a currently approved collection.
Title: User Fee for Exempt Organization Determination Letter
Request.
Form: 8718.
Abstract: Section 7528 of the Code directs the Secretary of the
Treasury or delegate (the ``Secretary'') to establish a program
requiring the payment of user fees for requests to the Service for
letter rulings, opinion letters, determination letters, and similar
requests. Form 8718, User Fee for Exempt Organization Determination
Letter Request, was created as a result of The Omnibus Reconciliation
Act of 1990 which requires payment of a ``user fee'' with each
application for a determination letter. Form 8718 provides filers with
the means to enclose their user fee payment and indicate what type of
request they are making.
Affected Public: Private sector: Business or other for-profits.
Estimated Total Burden Hours: 719.
OMB Number: 1545-1910.
Type of Review: Extension of a currently approved collection.
Title: Information Return of U.S. Persons With Respect To Foreign
Disregarded Entities (Form 8858); and Transactions Between Foreign
Disregarded Entity of a Foreign Tax Owner and the Filer.
Form: 8858.
Abstract: Form 8858 and Schedule M (Form 8858) are used by certain
U.S. persons that own a foreign disregarded entity (FDE) directly or,
in certain circumstances, indirectly or constructively.
Affected Public: Private sector: Business or other for-profits.
Estimated Total Burden Hours: 1,832,500.
OMB Number: 1545-1930.
Type of Review: Extension of a currently approved collection.
Title: T.D. 9248--Residence and Source Rules Involving U.S.
Possessions and Other Conforming Changes (Final and Temporary).
Abstract: T.D. 9248 contains final regulations that provide rules
for determining bona fide residency in the following U.S. possessions:
American Samoa, Guam, the Northern Mariana Islands, Puerto Rico, and
the United States Virgin Islands under sections 937(a) and 881(b) of
the Internal Revenue Code (Code).
Affected Public: Individuals.
Estimated Total Burden Hours: 300,000.
OMB Number: 1545-1934.
Type of Review: Extension of a currently approved collection.
Title: TD 9394 (REG-108524-00) (Final)--Section 1446 Regulations;
Form 8804-C--Certificate of Partner-Level Items to Reduce Section 1446
Withholding.
Form: 8804-C.
Abstract: This regulations implements withholding regime on
partnerships conducting business in the United States that have foreign
partners. Such partners are required to pay withholding tax in
installments on each foreign partner's allocable share of the
partnership's U.S. Business taxable income. Special rules for publicly
traded partnerships such that these partnerships pay withholding tax on
distributions to foreign partners.
Affected Public: Private sector: Business or other for-profits.
Estimated Total Burden Hours: 18,701.
OMB Number: 1545-1946.
Type of Review: Extension of a currently approved collection.
Title: T.D. 9315 (Final) Dual Consolidated Loss Regulations.
Abstract: This document contains final regulations under section
1503(d) of the Internal Revenue Code (Code) regarding dual consolidated
losses. Section 1503(d) generally provides that a dual consolidated
loss of a dual resident corporation cannot reduce the taxable income of
any other member of the affiliated group unless, to the extent provided
in regulations, the loss does not offset the income of any foreign
corporation. Similar rules apply to losses of separate units of
domestic corporations. These final regulations address various dual
consolidated loss issues, including exceptions to the general
prohibition against using a dual consolidated loss to reduce the
taxable income of any other member of the affiliated group.
[[Page 78571]]
Affected Public: Private sector: Business or other for-profits.
Estimated Total Burden Hours: 2,765.
OMB Number: 1545-2099.
Type of Review: Extension of a currently approved collection.
Title: Excise Tax on Certain Transfers of Qualifying Geothermal or
Mineral Interests.
Form: 8924.
Abstract: Form 8924, Excise Tax on Certain Transfers of Qualifying
Geothermal or Mineral Interests, is required by Section 403 of the Tax
Relief and Health Care Act of 2006 which imposes an excise tax on
certain transfers of qualifying mineral or geothermal interests.
Affected Public: Private sector: Business or other for-profits.
Estimated Total Burden Hours: 111.
OMB Number: 1545-1364.
Type of Review: Extension of a currently approved collection.
Title: TD 9568--Section 482 Methods to Determine Taxable Income in
Connection with a Cost Sharing Arrangement.
Abstract: This document contains final regulations regarding
methods to determine taxable income in connection with a cost sharing
arrangement under section 482 of the Internal Revenue Code (Code). The
final regulations address issues that have arisen in administering the
current cost sharing regulations. The final regulations affect domestic
and foreign entities that enter into cost sharing arrangements
described in the final regulations.
Affected Public: Private sector: Business or other for-profits.
Estimated Total Burden Hours: 9,350.
OMB Number: 1545-1518.
Type of Review: Revision of a currently approved collection.
Title: HSA, Archer MSA, or Medicare Advantage MSA Information.
Form: 5498-SA 2014, 5498-SA 2015.
Abstract: Section 220(h) requires trustees to report to the IRS and
medical savings account holders contributions to and the year-end fair
market value of any contributions made to a medical savings account
(MSA). Congress requires Treasury to report to them the total
contributions made to an MSA for the current tax year. Section 1201 of
the Medicare Prescription Drug, Improvement, and Modernization Act of
2003 (P.L. 108-173) created new Code section 223. Section 223(h)
requires the reporting of contributions to and the year-end fair market
value of health savings accounts for tax years beginning after December
31, 2003.
Affected Public: Private sector: Business or other for-profits.
Estimated Total Burden Hours: 1,559.
OMB Number: 1545-1581.
Type of Review: Extension of a currently approved collection.
Title: T.D. 8812 Continuation Coverage Requirements Applicable to
Group Health Plans.
Abstract: The regulations require group health plans to provide
notices to individuals who are entitled to elect COBRA (The
Consolidated Omnibus Budget Reconciliation Act of 1985) continuation
coverage of their election rights. Individuals who wish to obtain the
benefits provided under the statute are required to provide plans
notices in the cases of divorce from the covered employee, a dependent
child's ceasing to be dependent under the terms of the plan, and
disability. Most plans will require that elections of COBRA
continuation coverage be made in writing. In cases where qualified
beneficiaries are short by an insignificant amount in a payment made to
the plan, the regulations require the plan to notify the qualified
beneficiary if the plan does not wish to treat the tendered payment as
full payment. If a health care provider contacts a plan to confirm
coverage of a qualified beneficiary, the regulations require that the
plan disclose the qualified beneficiary's complete rights to coverage.
Affected Public: Private sector: Business or other for-profits.
Estimated Total Burden Hours: 404,640.
OMB Number: 1545-1648.
Type of Review: Revision of a currently approved collection.
Title: Publication 3319--Low-Income Taxpayer Clinic Grant
Application Package and Guidelines; Grant Web site.
Abstract: Publication 3319 is the grant application and program
requirements for our external customers, non-profits, legal aid
societies, universities, law schools, and will be used by anyone in the
U.S. and territories to apply for a low income taxpayer grant. There is
a Web site which collects the information.
Affected Public: Private sector: Business or other for-profits.
Estimated Total Burden Hours: 9,000.
OMB Number: 1545-1765.
Type of Review: Extension of a currently approved collection.
Title: T.D. 9171, New Markets Tax Credit.
Abstract: The regulations provide guidance for taxpayers claiming
the new markets tax credit under section 45D of the Internal Revenue
Code. The reporting requirements in the regulations require a qualified
community development entity (CDE) to provide written notice to: (1)
Any taxpayer who acquires an equity investment in the CDE at its
original issue that the equity investment is a qualified equity
investment entitling the taxpayer to claim the new markets tax credits;
and (2) each holder of a qualified equity investment, including all
prior holders of that investment that a recapture event has occurred.
CDE's must comply with such reporting requirements to the Secretary as
the Secretary may prescribe.
Affected Public: Private sector: Business or other for-profits.
Estimated Total Burden Hours: 210.
OMB Number: 1545-1776.
Type of Review: Extension of a currently approved collection.
Title: Form 1041-N--U.S. Income Tax Return for Electing Alaska
Native Settlement Trusts.
Form: 1041-N.
Abstract: An Alaska Native Settlement Trust (ANST) may elect under
section 646 to have the special income tax treatment of that section
apply to the trust and its beneficiaries. This one-time election is
made by filing Form 1041-N. Form 1041-N is used by the ANST to report
its income, etc., and to compute and pay any income tax. Form 1041-N is
also used for the special information reporting requirements that apply
to ANSTs.
Affected Public: Private sector: Business or other for-profits.
Estimated Total Burden Hours: 700.
OMB Number: 1545-1792.
Type of Review: Extension of a currently approved collection.
Title: REG-164754-01 (FINAL) Split-Dollar Life Insurance
Arrangements.
Abstract: The final regulations provide guidance for loans made
pursuant to a split-dollar life insurance arrangement. To obtain a
particular treatment under the regulations for certain split-dollar
loans, the parties to the loan must make a written representation,
which must be kept as part of their books and records and a copy filed
with their federal income tax returns. In addition, if a split-dollar
loan provides for contingent payments, the lender must produce a
projected payment schedule for the loan and give the borrower a copy of
the schedule. This schedule is used by parties to compute their
interest accruals and any imputed transfers for tax purposes.
Affected Public: Private sector: Business or other for-profits.
Estimated Total Burden Hours: 32,500.
OMB Number: 1545-1919.
Type of Review: Extension of a currently approved collection.
[[Page 78572]]
Title: Prior Government Service Information.
Form: 12854.
Abstract: This product is used to identify applicants who have had
prior government services in order to request the OPF from federal
records and to identify possible pay setting issues.
Affected Public: Individuals.
Estimated Total Burden Hours: 6,203.
OMB Number: 1545-2129.
Type of Review: Extension of a currently approved collection.
Title: REG-103146-08--Information Reporting Requirements Under Code
Sec. 6039.
Form: 3921, 3922.
Abstract: Form 3921 is a copy of the information return filed with
the IRS which transferred shares of stock to a recipient through
exercise of an incentive stock option under section 422(b). Form 3922
is used to record a transfer of the legal title of a share of stock
acquired by the employee where the stock was acquired pursuant to the
exercise of an option described in section 423(c). REG-103146-08
reflects the changes to section 6039 of the Internal Revenue Code made
by section 403 of the Tax Relief and Health Care Act of 2006.
Affected Public: Private sector: Business or other for-profits.
Estimated Total Burden Hours: 25,205.
OMB Number: 1545-2183.
Type of Review: Extension of a currently approved collection.
Title: Transfers by Domestic Corporations That Are Subject to
Section 367(a)(5); Distributions by Domestic Corporations That Are
Subject to Section 1248(f). (TD 9614 & 9615).
Abstract: The income tax regulations under section 367(a) reflect
changes by the Technical and Miscellaneous Corrections Act of 1988.
Section 367(a)(5) provides that a transfer of assets to a foreign
corporation in an exchange described in section 361 is subject to
section 367(a)(1), unless certain ownership requirements and other
conditions are met.
Affected Public: Private sector: Business or other for-profits.
Estimated Total Burden Hours: 3,260.
Robert Dahl,
Treasury PRA Clearance Officer.
[FR Doc. 2014-30376 Filed 12-29-14; 8:45 am]
BILLING CODE 4830-01-P
