Proposed Collection; Comment Request for Form 8594, 27216 [2016-10604]

Download as PDF 27216 Federal Register / Vol. 81, No. 87 / Thursday, May 5, 2016 / Notices Powers. For more information please contact: Donna Powers at 1–888–912– 1227 or (954) 423–7977 or write: TAP Office, 1000 S. Pine Island Road, Plantation, FL 33324 or contact us at the Web site: https://www.improveirs.org. The committee will be discussing various issues related to Tax Forms and Publications and public input is welcomed. Dated: May 2, 2016. Otis Simpson, Acting Director, Taxpayer Advocacy Panel. [FR Doc. 2016–10617 Filed 5–4–16; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Form 8594 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 Form 8594, Asset Acquisition Statement. 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 form and instructions should be directed to Kerry Dennis, at Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW., Washington, DC 20224, or through the internet, at Kerry.Dennis@irs.gov. SUPPLEMENTARY INFORMATION: Title: Asset Acquisition Statement. OMB Number: 1545–1021. Form Number: 8594. Abstract: Internal Revenue Code section 1060 requires reporting to the IRS by the buyer and seller of the total consideration paid for assets in an applicable asset acquisition. The information required to be reported includes the amount allocated to mstockstill on DSK3G9T082PROD with NOTICES SUMMARY: VerDate Sep<11>2014 18:06 May 04, 2016 Jkt 238001 goodwill or going concern value. Form 8594 is used to report this information. Current Actions: There have been no changes to the form. However, the agency has updated its estimated number of responses. Business burden is now being reported under 1545–0123, and individual burden is being reported under 1545–0074. Burden estimates for this collection (1545–1021) is for all other filers (estates, trusts, etc.). This change results in a decrease in overall burden hours. Type of Review: Revision of a currently approved collection. Affected Public: Business or other forprofit organizations and individuals. Estimated Number of Respondents: 1,310. Estimated Time per Respondent: 16 hrs., 28 minutes. Estimated Total Annual Burden Hours: 21,563. 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 26, 2016. Tuawana Pinkston, IRS Reports Clearance Officer. [FR Doc. 2016–10604 Filed 5–4–16; 8:45 am] BILLING CODE 4830–01–P PO 00000 Frm 00134 Fmt 4703 Sfmt 4703 DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Form 11–C 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 Form 11–C, Occupational Tax and Registration Return for Wagering. 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 form and instructions should be directed to Martha R. Brinson, Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW., Washington, DC 20224, or through the Internet at Martha.R.Brinson@irs.gov. SUPPLEMENTARY INFORMATION: Title: Occupational Tax and Registration Return for Wagering. OMB Number: 1545–0236. Form Number: 11–C. Abstract: Form 11–C is used to register persons accepting wagers, as required by Internal Revenue Code section 4412. The IRS uses this form to register the respondent, collect the annual stamp tax imposed by Code section 4411 and to verify that the tax on wagers is reported on Form 730, Monthly Tax Return for Wagers. 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 forprofit organizations and individuals. Estimated Number of Respondents: 11,500. Estimated Time per Respondent: 7 hours, 4 minutes. Estimated Total Annual Burden Hours: 81,190. The following paragraph applies to all of the collections of information covered by this notice: SUMMARY: E:\FR\FM\05MYN1.SGM 05MYN1

Agencies

[Federal Register Volume 81, Number 87 (Thursday, May 5, 2016)]
[Notices]
[Page 27216]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-10604]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Form 8594

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 
Form 8594, Asset Acquisition Statement.

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 form and instructions should be directed to Kerry Dennis, 
at Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW., 
Washington, DC 20224, or through the internet, at Kerry.Dennis@irs.gov.

SUPPLEMENTARY INFORMATION:
    Title: Asset Acquisition Statement.
    OMB Number: 1545-1021.
    Form Number: 8594.
    Abstract: Internal Revenue Code section 1060 requires reporting to 
the IRS by the buyer and seller of the total consideration paid for 
assets in an applicable asset acquisition. The information required to 
be reported includes the amount allocated to goodwill or going concern 
value. Form 8594 is used to report this information.
    Current Actions: There have been no changes to the form. However, 
the agency has updated its estimated number of responses. Business 
burden is now being reported under 1545-0123, and individual burden is 
being reported under 1545-0074. Burden estimates for this collection 
(1545-1021) is for all other filers (estates, trusts, etc.). This 
change results in a decrease in overall burden hours.
    Type of Review: Revision of a currently approved collection.
    Affected Public: Business or other for-profit organizations and 
individuals.
    Estimated Number of Respondents: 1,310.
    Estimated Time per Respondent: 16 hrs., 28 minutes.
    Estimated Total Annual Burden Hours: 21,563.
    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 26, 2016.
Tuawana Pinkston,
IRS Reports Clearance Officer.
[FR Doc. 2016-10604 Filed 5-4-16; 8:45 am]
 BILLING CODE 4830-01-P
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