Submission for OMB Review; Comment Request, 66972-66975 [2015-27651]
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opportunity to comment on a
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 ACH Vendor/
Miscellaneous Payment Enrollment
Form.
DATES: Written comments should be
received on or before December 29, 2015
to be assured of consideration.
ADDRESSES: Direct all written comments
and requests for further information 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 of the form(s) and instructions
should be directed to Walt Henderson,
EFT Strategy Division; 401 14th Street
SW., Room 303, Washington, DC 20227,
(202) 874–6624
SUPPLEMENTARY INFORMATION:
Title: ACH Vendor/Miscellaneous
Payment Enrollment Form.
OMB Number: 1510–0056.
Form Number: SF 3881.
Abstract: The form is used to collect
payment data from vendors doing
business with the Federal Government.
The Treasury Department, Bureau of the
Fiscal Service, will use the information
to electronically transmit payment to
vendors’ financial institutions.
Current Actions: Extension of a
currently approved collection.
Type of Review: Regular.
Affected Public: Business or other forprofit institutions.
Estimated Number of Respondents:
70,000.
Estimated Time per Respondent: 15
minutes.
Estimated Total Annual Burden
Hours: 17,500.
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
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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: October 26, 2015.
Bruce A. Sharp,
Bureau Clearance Officer.
[FR Doc. 2015–27623 Filed 10–29–15; 8:45 am]
BILLING CODE 4810–AS–P
DEPARTMENT OF THE TREASURY
Submission for OMB Review;
Comment Request
Department of the Treasury.
Notice.
AGENCY:
ACTION:
The Department of the Treasury will
submit the following information
collection requests 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 November 30, 2015 to be
assured of consideration.
ADDRESSES: Send comments regarding
the burden estimate, or any other aspect
of the information collection, including
suggestions 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 email at PRA@treasury.gov
or the entire information collection
request may be found at
www.reginfo.gov.
SUPPLEMENTARY INFORMATION:
Internal Revenue Service (IRS)
OMB Number: 1545–0022.
Type of Review: Extension without
change of a previously approved
collection.
Title: Life Insurance Statement.
Form: 712.
Abstract: Form 712 is used to
establish the value of life insurance
policies for estate and gift tax purposes.
The tax is based on the value of these
policies. The form is completed by life
insurance companies.
Affected Public: Private Sector:
Businesses or other for-profits.
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Estimated Annual Burden Hours:
1,120,200.
OMB Number: 1545–0202.
Type of Review: Extension without
change of a previously approved
collection.
Title: Form 5310, Application for
Determination for Terminating Plan;
Form 6088, Distributable Benefits from
Employee Pension Benefit Plans.
Form: 5310, 6088.
Abstract: Employers who have
qualified deferred compensation plans
can take an income tax deduction for
contributions to their plans. IRS uses
the data on Forms 5310 and 6088 to
determine whether a plan still qualifies
and whether there is any discrimination
in benefits.
Affected Public: Private Sector:
Businesses or other for-profits.
Estimated Annual Burden Hours:
1,718,300.
OMB Number: 1545–0770.
Type of Review: Extension without
change of a previously approved
collection.
Title: Transfers of Securities Under
Certain Agreements.
Abstract: Section 1058 of the Internal
Revenue Code provides tax-free
treatment for transfers of securities
pursuant to a securities lending
agreement. The agreement must be in
writing and is used by the taxpayer, in
a tax audit situation, to justify no
recognition treatment of gain or loss on
the exchange of the securities.
Affected Public: Private Sector:
Businesses or other for-profits.
Estimated Annual Burden Hours:
9,781.
OMB Number: 1545–1049.
Type of Review: Revision of a
previously approved collection.
Title: Excise Tax Relating to Gain or
Other Income Realized by Any Person
on Receipt of Greenmail.
Form: 8725.
Abstract: The regulations provide
rules relating to the manner and method
of reporting and paying the
nondeductible 50 percent excise tax
imposed by section 5881 of the Internal
Revenue Code with respect to the
receipt of greenmail. The reporting
requirements will be used to verify that
the excise tax imposed under section
5881 is properly reported and timely
paid. Form 8725 is used by persons who
receive ‘‘greenmail’’ to compute and pay
the excise tax on greenmail imposed
under Internal Revenue Code section
5881. IRS uses the information to verify
that the correct amount of tax has been
reported.
Affected Public: Private Sector:
Businesses or other for-profits.
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Estimated Annual Burden Hours:
8,321,755.
OMB Number: 1545–1120.
Type of Review: Extension without
change of a previously approved
collection.
Title: TD 8352 (temp & final) Final
Regulations Under Sections 382 and 383
of the Internal Revenue Code of 1986;
Pre-change Attributes; TD 8531 (Final)
Final Regulations Under Section 382.
Abstract: (CO–69–87 and CO–68–87)
These regulations require reporting by a
corporation after it undergoes an
‘‘ownership change’’ under 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 IRC 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.
Affected Public: Private Sector:
Businesses or other for-profits.
Estimated Annual Burden Hours:
220,575.
OMB Number: 1545–1233.
Type of Review: Extension without
change of a previously approved
collection.
Title: Adjusted Current Earnings (IA–
14–91)(Final).
Abstract: This regulation affects
business and other for profit
institutions. This information is
required by the IRS to ensure the proper
application of section 1.56(g)–1 of the
regulation. It will be used to verify that
taxpayers have properly elected the
benefits of section 1.56(g)–1(r) of the
regulation.
Affected Public: Private Sector:
Businesses or other for-profits.
Estimated Annual Burden Hours:
1,000.
OMB Number: 1545–1254.
Type of Review: Extension without
change of a previously approved
collection.
Title: TD 8396—Conclusive
Presumption of Worthlessness of Debts
Held by Banks (FI–34–91).
Abstract: Paragraph (d)(3) of section
1.166–2 of the regulations allows banks
and thrifts to elect to conform their tax
accounting for bad debts with their
regulatory accounting. An election or
revocation thereof, is a change in
method of accounting. The collection of
information required in section 1.166–
2(d)(3) is necessary to monitor the
elections.
Affected Public: Private Sector:
Businesses or other for-profits.
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Estimated Annual Burden Hours: 50.
OMB Number: 1545–1347.
Type of Review: Revision of a
previously approved collection.
Title: Arbitrage Bond Restrictions
under section 148.
Abstract: Section 148 was enacted to
minimize the arbitrage benefits from
investing gross proceeds of tax-exempt
bonds in higher yielding investments
and to remove the arbitrage incentives
to issue more bonds, to issue bonds
earlier, or to leave bonds outstanding
longer than is otherwise reasonably
necessary to accomplish the
governmental purposes for which the
bonds were issued. To accomplish these
purposes, section 148 restricts the direct
and indirect investment of bond
proceeds in higher yielding investments
and requires that certain earnings on
higher yielding investments be rebated
to the United States. Violation of these
provisions causes the bonds in the issue
to become arbitrage bonds, the interest
on which is not excludable from the
gross income of the owners under
section 103(a). The regulations in
§§ 1.148–1 through 1.148–11 apply in a
manner consistent with these purposes.
Section 148 of the Internal Revenue
Code requires issuers of tax-exempt
bonds to rebate certain arbitrage profits
earned on non-purpose investments
acquired with the bond proceeds.
Issuers are required to file a Form 8038–
T and remit the rebate. Issuers are also
required to keep records of certain
interest rate hedges so that the hedges
are taken into account in determining
arbitrage profits. The scope of interest
rate hedging transactions covered by the
arbitrage regulations was broadened by
requiring that hedges entered into prior
to the sale date of the bonds are covered
as well.
Affected Public: Private Sector:
Businesses or other for-profits.
Estimated Annual Burden Hours:
56,684.
OMB Number: 1545–1412.
Type of Review: Revision of a
previously approved collection.
Title: FI–54–93 (Final) Clear
Reflection of Income in the Case of
Hedging Transactions.
Abstract: This information is required
by the Internal Revenue Service to
verify compliance with section 446 of
the Internal Revenue Code. This
information will be used to determine
that the amount of tax has been
computed correctly.
Affected Public: Private Sector:
Businesses or other for-profits.
Estimated Annual Burden Hours:
20,000.
OMB Number: 1545–1503.
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Type of Review: Revision of a
previously approved collection.
Title: Revenue Procedure 2015–41
(Formerly 2006–9)—Section 482—
Allocation of Income and Deductions
Among Taxpayers.
Abstract: The information requested
is required to enable the Internal
Revenue Service to give advice on filing
Advance Pricing Agreement
applications, to process such
applications and negotiate agreements,
and to verify compliance with
agreements and whether agreements
require modification.
Affected Public: Private Sector: Notfor-profit institutions; Individuals or
Households.
Estimated Annual Burden Hours:
10,900.
OMB Number: 1545–1504.
Type of Review: Extension without
change of a previously approved
collection.
Title: Request for Taxpayer Advocate
Service Assistance (And Application for
Taxpayer Assistance Order).
Form: 911.
Abstract: This form is used by
taxpayers to apply for relief from a
significant hardship which may have
already occurred or is about to occur if
the IRS takes or fails to take certain
actions. This form is submitted to the
IRS Taxpayer Advocate Office in the
state or city where the taxpayer lives.
Affected Public: Individuals or
Households.
Estimated Annual Burden Hours:
46,500.
OMB Number: 1545–1510.
Type of Review: Extension without
change of a previously approved
collection.
Title: Revenue Procedure 2004–53;
Procedure for filing Forms W–2 is
certain Acquisitions (Rev Proc 96–60).
Abstract: Information is required by
the Internal Revenue Service to assist
predecessor and successor employers in
complying with the reporting
requirements under Code sections 6051
and 6011 for Forms W–2 and 941.
Affected Public: Private Sector:
Businesses or other for-profits.
Estimated Annual Burden Hours:
110,700.
OMB Number: 1545–1516.
Type of Review: Extension without
change of a previously approved
collection.
Title: Entity Classification Election.
Form: 8832.
Abstract: An eligible entity uses Form
8832 to elect how it will be classified for
federal tax purposes, as a corporation, a
partnership, or an entity disregarded as
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separate from its owner. An eligible
entity is classified for federal tax
purposes under the default rules unless
it files Form 8832 or Form 2553,
Election by a Small Business
Corporation. The IRS will use the
information entered on this form to
establish the entity’s filing and reporting
requirements for federal tax purposes.
Affected Public: Private Sector:
Businesses or other for-profits.
Estimated Annual Burden Hours:
35,900.
OMB Number: 1545–1530.
Type of Review: Extension without
change of a previously approved
collection.
Title: Rev. Proc. 2007–32—Tip Rate
Determination Agreement (Gaming
Industry); Gaming Industry Tip
Compliance Agreement Program.
Form: 8832.
Abstract: Tip Rate Determination
Agreement (Gaming Industry)
Information is required by the Internal
Revenue Service in its Compliance
efforts to assist employers and their
employees in understanding and
complying with section 6053(a), which
requires employees to report all their
tips monthly to their employers. Gaming
Industry Tip Compliance Agreement
Program Taxpayers who operate gaming
establishments may enter into an
agreement with the Internal Revenue
Service to establish tip rates and
occupational categories for all tipped
employees of the taxpayer. The
agreements will require substantiation
of the tip rates as well.
Affected Public: Private Sector:
Businesses or other for-profits.
Estimated Annual Burden Hours:
10,467.
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OMB Number: 1545–1540.
Type of Review: Extension without
change of a previously approved
collection.
Title: REG–125071–06 (TD 9308)
Reporting Requirements for Widely
Held Fixed Investment Trusts.
Abstract: The regulations clarify the
reporting requirements of trustees and
middlemen involved with widely held
fixed investment trusts.
Affected Public: Private Sector:
Businesses or other for-profits.
Estimated Annual Burden Hours:
2,400.
OMB Number: 1545–1667.
Type of Review: Extension without
change of a previously approved
collection.
Title: Revenue Procedure 99–50,
Combined Information Reporting.
Abstract: The revenue procedure
permits combined information reporting
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by a successor ‘‘business entity’’ (i.e., a
corporation, partnership, or sole
proprietorship) in certain situations
following a merger or an acquisition.
The successor must file a statement with
the Internal Revenue Service indicating
what forms are being filed on a
combined basis.
Affected Public: Private Sector:
Businesses or other for-profits.
Estimated Annual Burden Hours: 500.
OMB Number: 1545–1676.
Type of Review: Extension without
change of a previously approved
collection.
Title: REG–113572–99 (TD 8933)
Qualified Transportation Fringe
Benefits.
Abstract: These regulations provide
guidance to employers that provide
qualified transportation fringe benefits
under section 132(f), including guidance
to employers that provide cash
reimbursement for qualified
transportation fringes and employers
that offer qualified transportation
fringes in lieu of compensation.
Employers that provide cash
reimbursement are required to keep
records of documentation received from
employees who receive reimbursement.
Employers that offer qualified
transportation fringes in lieu of
compensation are required to keep
records of employee compensation
reduction elections.
Affected Public: Private Sector:
Businesses or other for-profits.
Estimated Annual Burden Hours:
12,968,728.
OMB Number: 1545–1678.
Type of Review: Extension without
change of a previously approved
collection.
Title: REG–161424–01 (Final),
Information Reporting for Qualified
Tuition and Related Expenses; Magnetic
Media Filing Requirements for
Information Returns; REG–105316–98
(Final) Information.
Abstract: These regulations relate to
the information reporting requirements
in section 6050S of the Internal Revenue
Code for payments of qualified tuition
and related expenses and interest on
qualified education loans. These
regulations provide guidance to eligible
education institutions, insurers, and
payees required to file information
returns and to furnish information
statements under section 6050S.
Affected Public: Private Sector: Notfor-profit institutions.
Estimated Annual Burden Hours: 1.
OMB Number: 1545–1810.
Type of Review: Extension without
change of a previously approved
collection.
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Title: Credit for Small Employer
Pension Plan Startup Costs.
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 percent 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.
Affected Public: Private Sector:
Businesses or other for-profits.
Estimated Annual Burden Hours:
235,335.
OMB Number: 1545–1815.
Type of Review: Revision of a
previously approved collection.
Title: Coverdell ESA Contribution
Information.
Form: 5498–ESA.
Abstract: Form 5498–ESA is used by
trustees and issuers of Coverdell
Education Savings accounts to report
contributions made to these accounts to
beneficiaries.
Affected Public: Private Sector:
Businesses or other for-profits.
Estimated Annual Burden Hours:
46,392.
OMB Number: 1545–1820.
Type of Review: Extension without
change of a previously approved
collection.
Title: Revenue Procedure 2003–33,
Section 9100 Relief for 338 Elections.
Abstract: Pursuant to Sec. 301.9100–
3 of the Procedure and Administration
Regulations, this procedure grants
certain taxpayers an extension of time to
file an election described in Sec. 338(a)
or Sec. 338(h)(10) of the Internal
Revenue Code to treat the purchase of
the stock of a corporation as an asset
acquisition.
Affected Public: Private Sector:
Businesses or other for-profits.
Estimated Annual Burden Hours: 300.
OMB Number: 1545–1843.
Type of Review: Extension without
change of a previously approved
collection.
Title: TD 9207 (final)—Assumptions
of Partner Liabilities; REG–106736–00
(NPRM).
Abstract: In order to be entitled to a
deduction with respect to the economic
performance of a contingent liability
that was contributed by a partner and
assumed by a partnership, the partner,
or former partner of the partnership,
must receive notification of economic
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performance of the contingent liability
from the partnership or other partner
assuming the liability.
Affected Public: Private Sector:
Businesses or other for-profits.
Estimated Annual Burden Hours: 125.
OMB Number: 1545–1980.
Type of Review: Extension without
change of a previously approved
collection.
Title: Notice 2007–70—Charitable
Contributions of Certain Motor Vehicles,
Boats, and Airplanes; Reporting
requirements under Sec. 170(f)(12)(D).
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.
Affected Public: Private Sector: Notfor-profit institutions.
Estimated Annual Burden Hours:
21,930.
tkelley on DSK3SPTVN1PROD with NOTICES
OMB Number: 1545–1982.
Type of Review: Extension without
change of a previously approved
collection.
Title: Distilled Spirits Credit.
Form: 8906.
Abstract: Form 8906, Distilled Spirits
Credit, was developed to carry out the
provisions of IRC section 5011(a). This
section allows eligible wholesalers and
persons subject to IRC section 5055 an
income tax credit for the average cost of
carrying excise tax on bottled distilled
spirits. The new form provides a means
for the eligible taxpayer to compute the
amount of credit.
Affected Public: Private Sector:
Businesses or other for-profits.
Estimated Annual Burden Hours:
21,930.
OMB Number: 1545–1994.
Type of Review: Extension without
change of a previously approved
collection.
Title: Notice 2008–36—Amplification
of Notice 2006–28, Energy Efficient
Homes Credit; Manufactured Homes.
Abstract: This notice supersedes
Notice 2006–28 by substantially
republishing the guidance contained in
that publication. This notice clarifies
the meaning of the terms equivalent
rating network and eligible contractor,
and permits calculation procedures
other than those identified in Notice
2006–28 to be used to calculate energy
consumption. Finally, this notice
clarifies the process for removing
software from the list of approved
software and reflects the extension of
the tax credit through December 31,
2008. Notice 2006–28, as updated,
provided guidance regarding the
calculation of heating and cooling
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energy consumption for purposes of
determining the eligibility of a
manufactured home for the New Energy
Efficient Home Credit under Internal
Revenue Code § 45L. Notice 2006–28
also provided guidance relating to the
public list of software programs that
may be used to calculate energy
consumption. Guidance relating to
dwelling units other than manufactured
homes is provided in Notice 2008–35.
Affected Public: Individuals or
Households.
Estimated Annual Burden Hours: 60.
OMB Number: 1545–2109.
Type of Review: Revision of a
previously approved collection.
Title: Notice of Election of an
Agreement to Special Lien Under
Internal Revenue Code Section 6324A
and Regulations.
Abstract: Under IRC section 6166, an
estate may elect to pay the estate tax in
installments over 14 years if certain
conditions are met. If the IRS
determines that the government’s
interest in collecting estate tax is
sufficiently at risk, it may require the
estate provide a bond. Alternatively, the
executor may elect to provide a lien in
lieu of bond. Under section 6324A(c), to
make this election the executor must
submit a lien agreement to the IRS.
Form 13925 is a form lien agreement
that executors may use for this purpose.
Affected Public: Individuals or
Households.
Estimated Annual Burden Hours: 500.
OMB Number: 1545–2131.
Type of Review: Revision of a
previously approved collection.
Title: Form 1127—Application for
Extension of Time for Payment of Tax
Due to Undue Hardship.
Form: 1127.
Abstract: Under IRC 6161, individual
taxpayers and business taxpayers are
allowed to request an extension of time
for payment of tax shown or required to
be shown on a return or for a tax due
on a notice of deficiency. In order to be
granted this extension, they must file
Form 1127, providing evidence of
undue hardship, inability to borrow,
and collateral to ensure payment of the
tax.
Affected Public: Private Sector:
Businesses or other for-profits.
Estimated Annual Burden Hours:
7,470.
Dated: October 26, 2015.
Dawn D. Wolfgang,
Treasury PRA Clearance Officer.
[FR Doc. 2015–27651 Filed 10–29–15; 8:45 am]
BILLING CODE 4830–01–P
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66975
DEPARTMENT OF THE TREASURY
Submission for OMB Review;
Comment Request
Department of the Treasury.
Notice.
AGENCY:
ACTION:
The Department of the
Treasury will submit the following
information collection requests 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 November 30, 2015 to be
assured of consideration.
ADDRESSES: Send comments regarding
the burden estimate, or any other aspect
of the information collection, including
suggestions 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 may be
obtained by emailing PRA@treasury.gov
or viewing the entire information
collection request at www.reginfo.gov.
SUPPLEMENTARY INFORMATION:
SUMMARY:
Bureau of the Fiscal Service (FS)
OMB Number: 1530–0003.
Type of Review: Extension without
change of a currently approved
collection.
Title: Notice of Reclamation.
Form: FMS–133.
Abstract: A program agency
authorizes Treasury to recover payments
that have been issued after the death of
the beneficiary. FMS Form 133 is used
to notify the financial institution. If the
financial institution does not respond to
the FMS–133, a debit request (Form
135) is sent to the Federal Reserve Bank.
Affected Public: Private Sector:
Businesses or other for-profits.
Estimated Annual Burden Hours:
29,750.
OMB Number: 1530–0004.
Type of Review: Extension without
change of a currently approved
collection.
Title: Claims Against the U.S. for
Amounts Due in Case of a Deceased
Creditor.
Form: SF 1055.
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]]>Agencies
[Federal Register Volume 80, Number 210 (Friday, October 30, 2015)]
[Notices]
[Pages 66972-66975]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-27651]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Submission for OMB Review; Comment Request
AGENCY: Department of the Treasury.
ACTION: Notice.
-----------------------------------------------------------------------
The Department of the Treasury will submit the following
information collection requests 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 November 30, 2015 to be
assured of consideration.
ADDRESSES: Send comments regarding the burden estimate, or any other
aspect of the information collection, including suggestions 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 email at PRA@treasury.gov or the entire information
collection request may be found at www.reginfo.gov.
SUPPLEMENTARY INFORMATION:
Internal Revenue Service (IRS)
OMB Number: 1545-0022.
Type of Review: Extension without change of a previously approved
collection.
Title: Life Insurance Statement.
Form: 712.
Abstract: Form 712 is used to establish the value of life insurance
policies for estate and gift tax purposes. The tax is based on the
value of these policies. The form is completed by life insurance
companies.
Affected Public: Private Sector: Businesses or other for-profits.
Estimated Annual Burden Hours: 1,120,200.
OMB Number: 1545-0202.
Type of Review: Extension without change of a previously approved
collection.
Title: Form 5310, Application for Determination for Terminating
Plan; Form 6088, Distributable Benefits from Employee Pension Benefit
Plans.
Form: 5310, 6088.
Abstract: Employers who have qualified deferred compensation plans
can take an income tax deduction for contributions to their plans. IRS
uses the data on Forms 5310 and 6088 to determine whether a plan still
qualifies and whether there is any discrimination in benefits.
Affected Public: Private Sector: Businesses or other for-profits.
Estimated Annual Burden Hours: 1,718,300.
OMB Number: 1545-0770.
Type of Review: Extension without change of a previously approved
collection.
Title: Transfers of Securities Under Certain Agreements.
Abstract: Section 1058 of the Internal Revenue Code provides tax-
free treatment for transfers of securities pursuant to a securities
lending agreement. The agreement must be in writing and is used by the
taxpayer, in a tax audit situation, to justify no recognition treatment
of gain or loss on the exchange of the securities.
Affected Public: Private Sector: Businesses or other for-profits.
Estimated Annual Burden Hours: 9,781.
OMB Number: 1545-1049.
Type of Review: Revision of a previously approved collection.
Title: Excise Tax Relating to Gain or Other Income Realized by Any
Person on Receipt of Greenmail.
Form: 8725.
Abstract: The regulations provide rules relating to the manner and
method of reporting and paying the nondeductible 50 percent excise tax
imposed by section 5881 of the Internal Revenue Code with respect to
the receipt of greenmail. The reporting requirements will be used to
verify that the excise tax imposed under section 5881 is properly
reported and timely paid. Form 8725 is used by persons who receive
``greenmail'' to compute and pay the excise tax on greenmail imposed
under Internal Revenue Code section 5881. IRS uses the information to
verify that the correct amount of tax has been reported.
Affected Public: Private Sector: Businesses or other for-profits.
[[Page 66973]]
Estimated Annual Burden Hours: 8,321,755.
OMB Number: 1545-1120.
Type of Review: Extension without change of a previously approved
collection.
Title: TD 8352 (temp & final) Final Regulations Under Sections 382
and 383 of the Internal Revenue Code of 1986; Pre-change Attributes; TD
8531 (Final) Final Regulations Under Section 382.
Abstract: (CO-69-87 and CO-68-87) These regulations require
reporting by a corporation after it undergoes an ``ownership change''
under 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 IRC 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.
Affected Public: Private Sector: Businesses or other for-profits.
Estimated Annual Burden Hours: 220,575.
OMB Number: 1545-1233.
Type of Review: Extension without change of a previously approved
collection.
Title: Adjusted Current Earnings (IA-14-91)(Final).
Abstract: This regulation affects business and other for profit
institutions. This information is required by the IRS to ensure the
proper application of section 1.56(g)-1 of the regulation. It will be
used to verify that taxpayers have properly elected the benefits of
section 1.56(g)-1(r) of the regulation.
Affected Public: Private Sector: Businesses or other for-profits.
Estimated Annual Burden Hours: 1,000.
OMB Number: 1545-1254.
Type of Review: Extension without change of a previously approved
collection.
Title: TD 8396--Conclusive Presumption of Worthlessness of Debts
Held by Banks (FI-34-91).
Abstract: Paragraph (d)(3) of section 1.166-2 of the regulations
allows banks and thrifts to elect to conform their tax accounting for
bad debts with their regulatory accounting. An election or revocation
thereof, is a change in method of accounting. The collection of
information required in section 1.166-2(d)(3) is necessary to monitor
the elections.
Affected Public: Private Sector: Businesses or other for-profits.
Estimated Annual Burden Hours: 50.
OMB Number: 1545-1347.
Type of Review: Revision of a previously approved collection.
Title: Arbitrage Bond Restrictions under section 148.
Abstract: Section 148 was enacted to minimize the arbitrage
benefits from investing gross proceeds of tax-exempt bonds in higher
yielding investments and to remove the arbitrage incentives to issue
more bonds, to issue bonds earlier, or to leave bonds outstanding
longer than is otherwise reasonably necessary to accomplish the
governmental purposes for which the bonds were issued. To accomplish
these purposes, section 148 restricts the direct and indirect
investment of bond proceeds in higher yielding investments and requires
that certain earnings on higher yielding investments be rebated to the
United States. Violation of these provisions causes the bonds in the
issue to become arbitrage bonds, the interest on which is not
excludable from the gross income of the owners under section 103(a).
The regulations in Sec. Sec. 1.148-1 through 1.148-11 apply in a
manner consistent with these purposes.
Section 148 of the Internal Revenue Code requires issuers of tax-
exempt bonds to rebate certain arbitrage profits earned on non-purpose
investments acquired with the bond proceeds. Issuers are required to
file a Form 8038-T and remit the rebate. Issuers are also required to
keep records of certain interest rate hedges so that the hedges are
taken into account in determining arbitrage profits. The scope of
interest rate hedging transactions covered by the arbitrage regulations
was broadened by requiring that hedges entered into prior to the sale
date of the bonds are covered as well.
Affected Public: Private Sector: Businesses or other for-profits.
Estimated Annual Burden Hours: 56,684.
OMB Number: 1545-1412.
Type of Review: Revision of a previously approved collection.
Title: FI-54-93 (Final) Clear Reflection of Income in the Case of
Hedging Transactions.
Abstract: This information is required by the Internal Revenue
Service to verify compliance with section 446 of the Internal Revenue
Code. This information will be used to determine that the amount of tax
has been computed correctly.
Affected Public: Private Sector: Businesses or other for-profits.
Estimated Annual Burden Hours: 20,000.
OMB Number: 1545-1503.
Type of Review: Revision of a previously approved collection.
Title: Revenue Procedure 2015-41 (Formerly 2006-9)--Section 482--
Allocation of Income and Deductions Among Taxpayers.
Abstract: The information requested is required to enable the
Internal Revenue Service to give advice on filing Advance Pricing
Agreement applications, to process such applications and negotiate
agreements, and to verify compliance with agreements and whether
agreements require modification.
Affected Public: Private Sector: Not-for-profit institutions;
Individuals or Households.
Estimated Annual Burden Hours: 10,900.
OMB Number: 1545-1504.
Type of Review: Extension without change of a previously approved
collection.
Title: Request for Taxpayer Advocate Service Assistance (And
Application for Taxpayer Assistance Order).
Form: 911.
Abstract: This form is used by taxpayers to apply for relief from a
significant hardship which may have already occurred or is about to
occur if the IRS takes or fails to take certain actions. This form is
submitted to the IRS Taxpayer Advocate Office in the state or city
where the taxpayer lives.
Affected Public: Individuals or Households.
Estimated Annual Burden Hours: 46,500.
OMB Number: 1545-1510.
Type of Review: Extension without change of a previously approved
collection.
Title: Revenue Procedure 2004-53; Procedure for filing Forms W-2 is
certain Acquisitions (Rev Proc 96-60).
Abstract: Information is required by the Internal Revenue Service
to assist predecessor and successor employers in complying with the
reporting requirements under Code sections 6051 and 6011 for Forms W-2
and 941.
Affected Public: Private Sector: Businesses or other for-profits.
Estimated Annual Burden Hours: 110,700.
OMB Number: 1545-1516.
Type of Review: Extension without change of a previously approved
collection.
Title: Entity Classification Election.
Form: 8832.
Abstract: An eligible entity uses Form 8832 to elect how it will be
classified for federal tax purposes, as a corporation, a partnership,
or an entity disregarded as
[[Page 66974]]
separate from its owner. An eligible entity is classified for federal
tax purposes under the default rules unless it files Form 8832 or Form
2553, Election by a Small Business Corporation. The IRS will use the
information entered on this form to establish the entity's filing and
reporting requirements for federal tax purposes.
Affected Public: Private Sector: Businesses or other for-profits.
Estimated Annual Burden Hours: 35,900.
OMB Number: 1545-1530.
Type of Review: Extension without change of a previously approved
collection.
Title: Rev. Proc. 2007-32--Tip Rate Determination Agreement (Gaming
Industry); Gaming Industry Tip Compliance Agreement Program.
Form: 8832.
Abstract: Tip Rate Determination Agreement (Gaming Industry)
Information is required by the Internal Revenue Service in its
Compliance efforts to assist employers and their employees in
understanding and complying with section 6053(a), which requires
employees to report all their tips monthly to their employers. Gaming
Industry Tip Compliance Agreement Program Taxpayers who operate gaming
establishments may enter into an agreement with the Internal Revenue
Service to establish tip rates and occupational categories for all
tipped employees of the taxpayer. The agreements will require
substantiation of the tip rates as well.
Affected Public: Private Sector: Businesses or other for-profits.
Estimated Annual Burden Hours: 10,467.
OMB Number: 1545-1540.
Type of Review: Extension without change of a previously approved
collection.
Title: REG-125071-06 (TD 9308) Reporting Requirements for Widely
Held Fixed Investment Trusts.
Abstract: The regulations clarify the reporting requirements of
trustees and middlemen involved with widely held fixed investment
trusts.
Affected Public: Private Sector: Businesses or other for-profits.
Estimated Annual Burden Hours: 2,400.
OMB Number: 1545-1667.
Type of Review: Extension without change of a previously approved
collection.
Title: Revenue Procedure 99-50, Combined Information Reporting.
Abstract: The revenue procedure permits combined information
reporting by a successor ``business entity'' (i.e., a corporation,
partnership, or sole proprietorship) in certain situations following a
merger or an acquisition. The successor must file a statement with the
Internal Revenue Service indicating what forms are being filed on a
combined basis.
Affected Public: Private Sector: Businesses or other for-profits.
Estimated Annual Burden Hours: 500.
OMB Number: 1545-1676.
Type of Review: Extension without change of a previously approved
collection.
Title: REG-113572-99 (TD 8933) Qualified Transportation Fringe
Benefits.
Abstract: These regulations provide guidance to employers that
provide qualified transportation fringe benefits under section 132(f),
including guidance to employers that provide cash reimbursement for
qualified transportation fringes and employers that offer qualified
transportation fringes in lieu of compensation. Employers that provide
cash reimbursement are required to keep records of documentation
received from employees who receive reimbursement. Employers that offer
qualified transportation fringes in lieu of compensation are required
to keep records of employee compensation reduction elections.
Affected Public: Private Sector: Businesses or other for-profits.
Estimated Annual Burden Hours: 12,968,728.
OMB Number: 1545-1678.
Type of Review: Extension without change of a previously approved
collection.
Title: REG-161424-01 (Final), Information Reporting for Qualified
Tuition and Related Expenses; Magnetic Media Filing Requirements for
Information Returns; REG-105316-98 (Final) Information.
Abstract: These regulations relate to the information reporting
requirements in section 6050S of the Internal Revenue Code for payments
of qualified tuition and related expenses and interest on qualified
education loans. These regulations provide guidance to eligible
education institutions, insurers, and payees required to file
information returns and to furnish information statements under section
6050S.
Affected Public: Private Sector: Not-for-profit institutions.
Estimated Annual Burden Hours: 1.
OMB Number: 1545-1810.
Type of Review: Extension without change of a previously approved
collection.
Title: Credit for Small Employer Pension Plan Startup Costs.
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 percent 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.
Affected Public: Private Sector: Businesses or other for-profits.
Estimated Annual Burden Hours: 235,335.
OMB Number: 1545-1815.
Type of Review: Revision of a previously approved collection.
Title: Coverdell ESA Contribution Information.
Form: 5498-ESA.
Abstract: Form 5498-ESA is used by trustees and issuers of
Coverdell Education Savings accounts to report contributions made to
these accounts to beneficiaries.
Affected Public: Private Sector: Businesses or other for-profits.
Estimated Annual Burden Hours: 46,392.
OMB Number: 1545-1820.
Type of Review: Extension without change of a previously approved
collection.
Title: Revenue Procedure 2003-33, Section 9100 Relief for 338
Elections.
Abstract: Pursuant to Sec. 301.9100-3 of the Procedure and
Administration Regulations, this procedure grants certain taxpayers an
extension of time to file an election described in Sec. 338(a) or Sec.
338(h)(10) of the Internal Revenue Code to treat the purchase of the
stock of a corporation as an asset acquisition.
Affected Public: Private Sector: Businesses or other for-profits.
Estimated Annual Burden Hours: 300.
OMB Number: 1545-1843.
Type of Review: Extension without change of a previously approved
collection.
Title: TD 9207 (final)--Assumptions of Partner Liabilities; REG-
106736-00 (NPRM).
Abstract: In order to be entitled to a deduction with respect to
the economic performance of a contingent liability that was contributed
by a partner and assumed by a partnership, the partner, or former
partner of the partnership, must receive notification of economic
[[Page 66975]]
performance of the contingent liability from the partnership or other
partner assuming the liability.
Affected Public: Private Sector: Businesses or other for-profits.
Estimated Annual Burden Hours: 125.
OMB Number: 1545-1980.
Type of Review: Extension without change of a previously approved
collection.
Title: Notice 2007-70--Charitable Contributions of Certain Motor
Vehicles, Boats, and Airplanes; Reporting requirements under Sec.
170(f)(12)(D).
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.
Affected Public: Private Sector: Not-for-profit institutions.
Estimated Annual Burden Hours: 21,930.
OMB Number: 1545-1982.
Type of Review: Extension without change of a previously approved
collection.
Title: Distilled Spirits Credit.
Form: 8906.
Abstract: Form 8906, Distilled Spirits Credit, was developed to
carry out the provisions of IRC section 5011(a). This section allows
eligible wholesalers and persons subject to IRC section 5055 an income
tax credit for the average cost of carrying excise tax on bottled
distilled spirits. The new form provides a means for the eligible
taxpayer to compute the amount of credit.
Affected Public: Private Sector: Businesses or other for-profits.
Estimated Annual Burden Hours: 21,930.
OMB Number: 1545-1994.
Type of Review: Extension without change of a previously approved
collection.
Title: Notice 2008-36--Amplification of Notice 2006-28, Energy
Efficient Homes Credit; Manufactured Homes.
Abstract: This notice supersedes Notice 2006-28 by substantially
republishing the guidance contained in that publication. This notice
clarifies the meaning of the terms equivalent rating network and
eligible contractor, and permits calculation procedures other than
those identified in Notice 2006-28 to be used to calculate energy
consumption. Finally, this notice clarifies the process for removing
software from the list of approved software and reflects the extension
of the tax credit through December 31, 2008. Notice 2006-28, as
updated, provided guidance regarding the calculation of heating and
cooling energy consumption for purposes of determining the eligibility
of a manufactured home for the New Energy Efficient Home Credit under
Internal Revenue Code Sec. 45L. Notice 2006-28 also provided guidance
relating to the public list of software programs that may be used to
calculate energy consumption. Guidance relating to dwelling units other
than manufactured homes is provided in Notice 2008-35.
Affected Public: Individuals or Households.
Estimated Annual Burden Hours: 60.
OMB Number: 1545-2109.
Type of Review: Revision of a previously approved collection.
Title: Notice of Election of an Agreement to Special Lien Under
Internal Revenue Code Section 6324A and Regulations.
Abstract: Under IRC section 6166, an estate may elect to pay the
estate tax in installments over 14 years if certain conditions are met.
If the IRS determines that the government's interest in collecting
estate tax is sufficiently at risk, it may require the estate provide a
bond. Alternatively, the executor may elect to provide a lien in lieu
of bond. Under section 6324A(c), to make this election the executor
must submit a lien agreement to the IRS. Form 13925 is a form lien
agreement that executors may use for this purpose.
Affected Public: Individuals or Households.
Estimated Annual Burden Hours: 500.
OMB Number: 1545-2131.
Type of Review: Revision of a previously approved collection.
Title: Form 1127--Application for Extension of Time for Payment of
Tax Due to Undue Hardship.
Form: 1127.
Abstract: Under IRC 6161, individual taxpayers and business
taxpayers are allowed to request an extension of time for payment of
tax shown or required to be shown on a return or for a tax due on a
notice of deficiency. In order to be granted this extension, they must
file Form 1127, providing evidence of undue hardship, inability to
borrow, and collateral to ensure payment of the tax.
Affected Public: Private Sector: Businesses or other for-profits.
Estimated Annual Burden Hours: 7,470.
Dated: October 26, 2015.
Dawn D. Wolfgang,
Treasury PRA Clearance Officer.
[FR Doc. 2015-27651 Filed 10-29-15; 8:45 am]
BILLING CODE 4830-01-P
