Proposed Collection; Comment Request for Regulation Project, 27193-27194 [2016-10571]

Download as PDF mstockstill on DSK3G9T082PROD with NOTICES Federal Register / Vol. 81, No. 87 / Thursday, May 5, 2016 / Notices Estimated Number of Respondents: 5,000. Estimated Time per Respondent: 14 hours, 50 minutes. Estimated Total Annual Burden Hours: 74,200. 7. Title: Extended Carryback of Losses to or From a Consolidated Group. OMB Number: 1545–2171. Regulations: TD 9490. Abstract: This document contains final and temporary regulations under section 1502 that affect corporations filing consolidated returns. The regulations contain rules regarding the implementation of section 172(b)(1)(H) within a consolidated group. These regulations also permit certain acquiring consolidated groups to elect to waive all or a portion of the pre-acquisition carryback period pursuant to section 172(b)(1)(H) for specific losses attributable to certain acquired members. Current Actions: There is no change to this existing regulation. Type of Review: Extension of a currently approved collection. Affected Public: Business or other forprofit organizations. Estimated Number of Respondents: 4,000 Estimated Time per Respondent: 0.25 hours Estimated Total Annual Burden Hours: 1,000 8. Title: Form 990–PF, Return of Private Foundation or Section 4947(a)(1) Nonexempt charitable Trust Treated as a Private Foundation, and Form 4720, return of Certain Excise Taxes on Charities and Other Persons Under Chapters 41 and 42 of the Internal revenue Code. OMB Number: 1545–0052. Form Number: 990–PF and 4720. Abstract: Internal Revenue Code section 6033 requires all private foundations, including section 4947(a)(1) trusts treated as private foundations, to file an annual information return. Section 53.4940– 1(a) of the Income Tax Regulations requires that the tax on net investment income be reported on the return filed under section 6033. Form 990–PF is used for this purpose. Section 6011 requires a report of taxes under Chapter 42 of the Code for prohibited acts by private foundations and certain related parties. Form 4720 is used by foundations and/or related persons to report prohibited activities in detail and pay the tax on them. Current Actions: There are no changes being made to the revenue procedure at this time. Type of Review: Extension of a currently approved collection. VerDate Sep<11>2014 18:06 May 04, 2016 Jkt 238001 Affected Public: Not-for-profit institutions. Estimated Number of Respondents: 55,000. Estimated Time per Respondent: 200 hrs., 58 min. Estimated Total Annual Reporting Burden Hours: 11,052,594. 9. Title: Treatment of Shareholders of Certain Passive Foreign Investment Companies. OMB Number: 1545–1507. Regulation Project Number: INTL– 656–87 (TD 8701). Abstract: The reporting requirements affect United States persons that are direct and indirect shareholders of passive foreign investment companies (PFICSs). The requirements enable the Internal Revenue Service to identify PFICs, United States shareholders, and transactions subject to PFIC taxation and verify income inclusions, excess distributions, and deferred tax amounts. Current Actions: There is no change to this existing regulation. Type of Review: Extension of a currently approved collection. Affected Public: Individuals, business or other for-profit organizations, and not-for-profit institutions. Estimated Number of Respondents: 131,250. Estimated Time per Respondent: 46 minutes. Estimated Total Annual Burden Hours: 100,000. 10. Title: Credit for New Qualified Alternative Motor Vehicles (Qualified Fuel Cell Motor Vehicles). OMB Number: 1545–2028. Form Number: Notice 2008–33. Abstract: This Notice will be used to determine whether the vehicle for which the credit is claimed under § 30B by a taxpayer is property that qualifies for the credit. The collection of information is required to obtain a benefit. The likely respondents are corporations and partnerships. 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, Businesses and other forprofit organizations. Estimated Number of Respondents: 5. Estimated Time per Respondent: 40 hours. Estimated Total Annual Burden Hours: 200. 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 PO 00000 Frm 00111 Fmt 4703 Sfmt 4703 27193 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: April 28, 2016. Tuawana Pinkston, Supervisory Tax Analyst. [FR Doc. 2016–10587 Filed 5–4–16; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Regulation Project Internal Revenue Service (IRS), Treasury. ACTION: Notice and request for comments. AGENCY: 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)). Currently, the IRS is soliciting comments concerning general rules for making and maintaining qualified electing fund elections. DATES: Written comments should be received on or before July 5, 2016 to be assured of consideration. ADDRESSES: Direct all written comments to Tuawana Pinkston, Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW., Washington, DC 20224. FOR FURTHER INFORMATION CONTACT: Requests for additional information or copies of the regulation should be directed to Sara Covington, at Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW., Washington, DC 20224, or through the internet at Sara.L.Covington@irs.gov. SUPPLEMENTARY INFORMATION: Title: General Rules for Making and Maintaining Qualified Electing Fund Elections. OMB Number: 1545–1555. Regulation Project Number: REG– 115795–97. Abstract: This regulation provides guidance to a passive foreign investment company (PFIC) shareholder that makes the election under Code section 1295 to SUMMARY: E:\FR\FM\05MYN1.SGM 05MYN1 mstockstill on DSK3G9T082PROD with NOTICES 27194 Federal Register / Vol. 81, No. 87 / Thursday, May 5, 2016 / Notices treat the PFIC as a qualified electing fund (QEF), and for PFIC shareholders that wish to make a section 1295 election that will apply on a retroactive basis. Guidance is also provided on revoking such elections. Current Actions: There is no change to this existing regulation. Type of Review: Extension of a currently approved collection. Affected Public: Individuals or households, business or other for-profit organization, and not-for-profit institutions. Estimated Number of Respondents: 1,290. Estimated Time per Respondent: 29 minutes. Estimated Total Annual Burden Hours: 623. 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. 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. Approved: April 28, 2016. Sara Covington, IRS Tax Analyst. BILLING CODE 4830–01–P 18:06 May 04, 2016 Internal Revenue Service Open Meeting of the Taxpayer Advocacy Panel Joint Committee Internal Revenue Service (IRS), Treasury. ACTION: Notice of meeting. AGENCY: An open meeting of the Taxpayer Advocacy Panel Joint Committee will be conducted. The Taxpayer Advocacy Panel is soliciting public comments, ideas, and suggestions on improving customer service at the Internal Revenue Service. DATES: The meeting will be held Wednesday, June 29, 2016. FOR FURTHER INFORMATION CONTACT: Kim Vinci at 1–888–912–1227 or 916–974– 5086. SUMMARY: Notice is hereby given pursuant to Section 10(a)(2) of the Federal Advisory Committee Act, 5 U.S.C. App. (1988) that an open meeting of the Taxpayer Advocacy Panel Joint Committee will be held Wednesday, June 29, 2016, at 1:00 p.m. Eastern Time via teleconference. The public is invited to make oral comments or submit written statements for consideration. For more information please contact: Kim Vinci at 1–888– 912–1227 or 916–974–5086, TAP Office, 4330 Watt Ave, Sacramento, CA 95821, or contact us at the Web site: http:// www.improveirs.org. The agenda will include various committee issues for submission to the IRS and other TAP related topics. Public input is welcomed. SUPPLEMENTARY INFORMATION: Dated: May 2, 2016. Otis Simpson, Acting Director, Taxpayer Advocacy Panel. Jkt 238001 suggestions on improving customer service at the Internal Revenue Service. DATES: The meeting will be held Wednesday, June 8, 2016. FOR FURTHER INFORMATION CONTACT: Otis Simpson at 1–888–912–1227 or 202– 317–3332. SUPPLEMENTARY INFORMATION: Notice is hereby given pursuant to Section 10(a)(2) of the Federal Advisory Committee Act, 5 U.S.C. App. (1988) that a meeting of the Taxpayer Advocacy Panel Taxpayer Assistance Center Improvements Project Committee will be held Wednesday, June 8, 2016, at 2:00 p.m. Eastern Time. The public is invited to make oral comments or submit written statements for consideration. Due to limited conference lines, notification of intent to participate must be made with Otis Simpson. For more information please contact: Otis Simpson at 1–888–912– 1227 or 202–317–3332, TAP Office, 1111 Constitution Avenue NW., Room 1509—National Office, Washington, DC 20224, or contact us at the Web site: http://www.improveirs.org. The committee will be discussing various issues related to the Taxpayer Assistance Centers and public input is welcomed. Dated: May 2, 2016. Otis Simpson, Acting Director, Taxpayer Advocacy Panel. [FR Doc. 2016–10616 Filed 5–4–16; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Open Meeting of the Taxpayer Advocacy Panel Special Projects Committee BILLING CODE 4830–01–P Internal Revenue Service (IRS), Treasury. ACTION: Notice of meeting. DEPARTMENT OF THE TREASURY SUMMARY: [FR Doc. 2016–10615 Filed 5–4–16; 8:45 am] Internal Revenue Service Open Meeting of the Taxpayer Advocacy Panel Taxpayer Assistance Center Improvements Project Committee Internal Revenue Service (IRS), Treasury. ACTION: Notice of meeting. AGENCY: The Taxpayer Advocacy Panel Taxpayer Assistance Center Improvements Project Committee will conduct an open meeting and will solicit public comments, ideas, and SUMMARY: [FR Doc. 2016–10571 Filed 5–4–16; 8:45 am] VerDate Sep<11>2014 DEPARTMENT OF THE TREASURY PO 00000 Frm 00112 Fmt 4703 Sfmt 4703 AGENCY: An open meeting of the Taxpayer Advocacy Panel Special Projects Committee will be conducted. The Taxpayer Advocacy Panel is soliciting public comments, ideas, and suggestions on improving customer service at the Internal Revenue Service. DATES: The meeting will be held Tuesday, June 7, 2016. FOR FURTHER INFORMATION CONTACT: Kim Vinci at 1–888–912–1227 or 916–974– 5086. SUPPLEMENTARY INFORMATION: Notice is hereby given pursuant to Section 10(a)(2) of the Federal Advisory Committee Act, 5 U.S.C. App. (1988) that a meeting of the Taxpayer E:\FR\FM\05MYN1.SGM 05MYN1

Agencies

[Federal Register Volume 81, Number 87 (Thursday, May 5, 2016)]
[Notices]
[Pages 27193-27194]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-10571]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Regulation Project

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)). Currently, the IRS is soliciting comments concerning 
general rules for making and maintaining qualified electing fund 
elections.

DATES: Written comments should be received on or before July 5, 2016 to 
be assured of consideration.

ADDRESSES: Direct all written comments to Tuawana Pinkston, Internal 
Revenue Service, Room 6526, 1111 Constitution Avenue NW., Washington, 
DC 20224.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the regulation should be directed to Sara Covington, at 
Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW., 
Washington, DC 20224, or through the internet at 
Sara.L.Covington@irs.gov.

SUPPLEMENTARY INFORMATION: 
    Title: General Rules for Making and Maintaining Qualified Electing 
Fund Elections.
    OMB Number: 1545-1555.
    Regulation Project Number: REG-115795-97.
    Abstract: This regulation provides guidance to a passive foreign 
investment company (PFIC) shareholder that makes the election under 
Code section 1295 to

[[Page 27194]]

treat the PFIC as a qualified electing fund (QEF), and for PFIC 
shareholders that wish to make a section 1295 election that will apply 
on a retroactive basis. Guidance is also provided on revoking such 
elections.
    Current Actions: There is no change to this existing regulation.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals or households, business or other for-
profit organization, and not-for-profit institutions.
    Estimated Number of Respondents: 1,290.
    Estimated Time per Respondent: 29 minutes.
    Estimated Total Annual Burden Hours: 623.
    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.
    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.

    Approved: April 28, 2016.
Sara Covington,
IRS Tax Analyst.
[FR Doc. 2016-10571 Filed 5-4-16; 8:45 am]
 BILLING CODE 4830-01-P