Proposed Information Collection; Comment Request, 45716-45717 [2015-18811]

Agencies

• Internal Revenue Service
• DEPARTMENT OF THE TREASURY

[Federal Register Volume 80, Number 147 (Friday, July 31, 2015)]
[Notices]
[Pages 45716-45717]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-18811]



[[Page 45716]]

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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Information Collection; Comment Request

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

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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 September 29, 
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 
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:
    1. Title: Form 5310, Application for Determination for Terminating 
Plan, and Form 6088, Distributable Benefits from Employee Pension 
Benefit Plans.
    OMB Number: 1545-0202.
    Form Number: Forms 5310 and 6088.
    Abstract: Employers who have qualified deferred compensation plans 
can take an income tax deduction for contributions to their plans. Form 
5310 is used to request an IRS determination letter about the plan's 
qualification status (qualified or non-qualified) under Internal 
Revenue Code section 401(a). Form 6088 is used to show the amounts of 
distributable benefits to participants in the plan.
    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: Business or other for-profit organizations.
    Estimated Number of Responses: 40,000.
    Estimated Time per Response: 109.04 hours.
    Estimated Total Annual Burden Hours: 1,718,300.
    2. Title: CO-68-87 and CO-69-87 (TD 8352), Final Regulations Under 
Sections 382 and 383 of the Internal Revenue Code of 1986; Pre-change 
Attributes, and CO-18-90 (TD 8531), Final Regulations Under Section 382 
of the Internal Revenue Code of 1986; Limitations on Corporate Net 
Operating Loss Carryforwards.
    OMB Number: 1545-1120.
    Regulation Project Number: CO-68-87; CO-69-87; CO-18-90.
    Abstract: (CO-68-87 and CO-69-87) These regulations require 
reporting by a corporation after it undergoes an ``ownership change'' 
under Code sections 382 and 383. Corporations required to report under 
these regulations include those with capital loss carryovers and excess 
credits. (CO-18-90) These regulations provide rules for the treatment 
of options under Code section 382 for purposes of determining whether a 
corporation undergoes an ownership change. The regulation allows for 
certain elections for corporations whose stock is subject to options.
    Current Actions: There is no change to these existing regulations.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents: 75,150.
    Estimated Time per Respondent: 2 hours, 56 minutes.
    Estimated Total Annual Burden Hours: 220,575.
    3. Title: Allocations of Income and Deductions Among Taxpayers.
    OMB Number: 1545-1503.
    Revenue Procedure Number: Revenue Procedures 2006-09.
    Abstract: The information requested in these revenue procedures is 
required to enable the Internal Revenue Service to give advice on 
filing Advance Pricing Agreement applications, to process such 
applications, to process such applications and negotiate agreements, 
and to verify compliance with the agreements and whether the agreements 
require modification.
    Current Actions: There are no changes being made to the revenue 
procedures at this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents: 360.
    Estimated Time Per Respondent: 32 hours., 49 minutes.
    Estimated Total Annual Burden Hours: 8,200.
    4. Title: Reporting Requirements for Widely Held Fixed Investment 
Trusts.
    OMB Number: 1545-1540.
    Regulation Project Number: REG-125071-06 (TD 9308).
    Abstract: Under regulation section 1.671-5, the trustee or the 
middleman who holds an interest in a widely held

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fixed investment trust for an investor will be required to provide a 
Form 1099 to the IRS and a tax information statement to the investor. 
The trust is also required to provide more detailed tax information to 
middlemen and certain other persons, upon request.
    Current Actions: There is no change to this existing regulation.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents: 1,200.
    Estimated Time per Respondent: 2 hours.
    Estimated Total Annual Burden Hours: 2,400.
    5. Title: Credit for Small Employer Pension Plan Startup Costs.
    OMB Number: 1545-1810.
    Form Number: 8881.
    Abstract: Qualified small employers use Form 8881 to request a 
credit for start-up costs related to eligible retirement plans. Form 
8881 implements section 45E, which provides a credit based on costs 
incurred by an employer in establishing or administering an eligible 
employer plan or for the retirement-related education of employees with 
respect to the plan. The credit is 50% of the qualified costs for the 
tax year, up to a maximum credit of $500 for the first tax year and 
each of the two subsequent tax years.
    Current Actions: There are no changes being made to the form at 
this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents: 66,667.
    Estimated Time per Respondent: 3 hours, 32 minutes.
    Estimated Total Annual Burden Hours: 235,335.
    6. Title: Charitable Contributions of Certain Motor Vehicles, Boats 
and Airplanes, reporting Requirements under Sec.  170(f)(12)(D).
    OMB Number: 1545-1980.
    Notice Number: Notice 2007-70.
    Abstract: Charitable organizations are required to send an 
acknowledgement of car donations to the donor and to the Service. The 
purpose of is to prevent donors from taking inappropriate deductions.
    Current Actions: There are no changes being made to the notice at 
this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Not-for-profit institutions, Individuals or 
Households.
    Estimated Number of Respondents: 4,300.
    Estimated Average Time per Respondent: 5 hrs. 6 min.
    Estimated Total Annual Burden Hours: 21,930.
    7. Title: Permitted Elimination of Preretirement Optional Forms of 
Benefit.
    OMB Number: 1545-1545.
    Regulation Project Number: REG-107644-97 (TD 8769).
    Abstract: This regulation permits an amendment of a qualified plan 
or other employee pension benefit plan that eliminates plan provisions 
for benefit distributions before retirement age but after age 70\1/2\. 
The regulation affects employers that maintain qualified plans and 
other employee pension benefit plans, plan administrators of these 
plans and participants in these plans.
    Current Actions: There is no change to this existing regulation.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations and 
not-for-profit institutions.
    Estimated Number of Respondents: 135,000.
    Estimated Average Time per Respondent: 22 min.
    Estimated Total Annual Burden Hours: 48,800.
    8. Title: Travel Expenses of State Legislators.
    OMB Number: 1545-2115.
    Form Number: T.D. 9481
    Abstract: This document contains final regulations relating to 
travel expenses of state legislators while away from home. The 
regulations affect eligible state legislators who make the election 
under section 162(h) of the Internal Revenue Code (Code). The 
regulations clarify the amount of travel expenses that a state 
legislator may deduct under section 162(h).
    Current Actions: There is no change in the paperwork burden 
previously approved by OMB.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals and Households.
    Estimated Number of Respondents: 7400.
    Estimated Time per Respondent: .50 hours.
    Estimated Total Annual Burden Hours: 3700.
    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.

    Approved: July 28, 2015.
Christie A. Preston,
IRS Reports Clearance Officer.
[FR Doc. 2015-18811 Filed 7-30-15; 8:45 am]
 BILLING CODE 4830-01-P