Proposed Information Collection; Comment Request, 13950-13951 [2015-06002]

Agencies

• Internal Revenue Service
• DEPARTMENT OF THE TREASURY

[Federal Register Volume 80, Number 51 (Tuesday, March 17, 2015)]
[Notices]
[Pages 13950-13951]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2015-06002]


=======================================================================
-----------------------------------------------------------------------

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 May 18, 2015 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 record-keeping 
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 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

[[Page 13951]]

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 record-keeping 
requirements:
    Title: Below-Market Loans.
    OMB Number: 1545-0913.
    Regulation Project Number: TD 8045 Below-Market Loans.
    Abstract: Internal Revenue Code section 7872 re-characterizes a 
below-market loan as a market rate loan and an additional transfer by 
the lender to the borrower equal to the amount of imputed interest. The 
regulation requires both the lender and the borrower to attach a 
statement to their respective income tax returns for years in which 
they have imputed income or claim imputed deductions under Code section 
7872.
    Current Actions: There is no change to this existing regulation.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals or households, and business or other 
for-profit organizations.
    Estimated Number of Respondents: 1,926,888.
    Estimated Time per Respondent: 15 min.
    Estimated Total Annual Burden Hours: 481,722.

    Title: Notice of Income Donated Intellectual Property.
    OMB Number: 1545-1962.
    Form Number: Form 8899.
    Abstract: Form 8899 is filed by charitable org. receiving donations 
of intellectual property if the donor provides timely notice. The 
initial deduction is limited to the donor's basis; additional 
deductions are allowed to the extent of income from the property, 
reducing excessive deductions.
    Current Actions: There is no change in the paperwork burden 
previously approved by OMB. This form is being submitted for renewal 
purposes only.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit, and not-for-profit 
institutions.
    Estimated Number of Respondents: 1,000.
    Estimated Time per Respondent: 5 hrs. 26 min.
    Estimated Total Annual Burden Hours: 5,430.

    Titles: Taxpayer Advocacy Panel (TAP) Membership Application; 
Taxpayer Advocacy Panel Tax Check Waiver.
    OMB Number: 1545-1788.
    Form Numbers: 13013, 13013-D.
    Abstract: Form 13013, Taxpayer Advocacy Panel (TAP) Membership 
Application, is used as an application to volunteer to serve on the 
Taxpayer Advocacy Panel (TAP), an advisory panel to the Internal 
Revenue Service. The TAP application is necessary for the purpose of 
recruiting perspective members to voluntarily participate on the 
Taxpayer Advocacy Panel for the Internal Revenue Service. It is 
necessary to gather information to rank applicants as well as to 
balance the panels demographically.
    Abstract: Form 13013-D, Taxpayer Advocacy Panel Tax Check Waiver, 
is used by new and continuing members of IRS Advisory Committees/
Councils who are required to undergo a tax compliance check as a 
condition of membership. The tax check wavier authorizes the Government 
Liaison Disclosure analysts to provide the results to the appropriate 
IRS officials.
    Current Actions: There are no changes being made to the forms at 
this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals.
    Estimated Number of Respondents: 800.
    Estimated Total Annual Burden Hours: 578.

    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: March 9, 2015.
Christie A. Preston,
IRS Reports Clearance Officer.
[FR Doc. 2015-06002 Filed 3-16-15; 8:45 am]
 BILLING CODE 4830-01-P