Proposed Collection; Comment Request for Regulation Project, 29954-29955 [2016-11364]
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29954
Federal Register / Vol. 81, No. 93 / Friday, May 13, 2016 / Notices
Written comments should be
received on or before July 12, 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,
Internal Revenue Service, room 6526,
1111 Constitution Avenue NW.,
Washington, DC 20224, or through the
internet at Kerry.Dennis@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: REG–120282–10 (Final)/
Dividend Equivalents from Sources
within the United States, Form 1042,
Annual Withholding Tax Return for
U.S. Source Income of Foreign Persons,
Form 1042–S, Foreign Person’s U.S.
Source Income Subject to Withholding,
and Form 1042–T, Annual Summary
and Transmittal of Forms 1042–T.
OMB Number: 1545–0096.
Form Numbers: 1042, 1042–S, and
1042–T.
Abstract: The regulations pertain to
section 871(m) regarding dividend
equivalent payments that are treated as
U.S. source income. These regulations
provide guidance regarding when
payments made pursuant to certain
DATES:
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment
Request for Dividend Equivalents
From Sources Within the United
States, Forms 1042, 1042–S, and
1042–T
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
dividend equivalents from sources
within the United States, Form 1042,
Annual Withholding Tax Return for
U.S. Source Income of Foreign Persons,
Form 1042–S, Foreign Person’s U.S.
Source Income Subject to Withholding,
and Form 1042–T, Annual Summary
and Transmittal of Forms 1042–S.
SUMMARY:
financial instruments will be treated as
U.S.-source income and subject to U.S.
withholding tax. The information
provided is necessary to permit
withholding agents to determine
whether U.S. withholding tax is due
with respect to a payment of a dividend
equivalent and the amount of the tax.
The information will also be used for
audit and examination purposes. Form
1042 is used by withholding agents to
report tax withheld at source on
payment of certain income paid to
nonresident alien individuals, foreign
partnerships, or foreign corporations.
The IRS uses this information to verify
that the correct amount of tax has been
withheld and paid to the United States.
Form 1042–S is used to report certain
income and tax withheld information to
nonresident alien payees and beneficial
owners. Form 1042–T is used by
withholding agents to transmit Forms
1042–S to the IRS.
Current Actions: There are no changes
to the burden previously approved by
OMB.
Type of Review: Extension of a
currently approved collection.
Affected Public: Business or other for
profit organizations and individuals or
households.
The burden estimate is as follows:
Number of
responses
Total hours
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
VerDate Sep<11>2014
18:05 May 12, 2016
Jkt 238001
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: May 5, 2016.
Tuawana Pinkston,
IRS, Reports Clearance Officer.
[FR Doc. 2016–11367 Filed 5–12–16; 8:45 am]
BILLING CODE 4830–01–P
PO 00000
Frm 00123
Fmt 4703
Sfmt 4703
36,400
3,525,300
19,500
30,000
18.05
.58
.20
8.00
657,020
2,044,674
3,900
240,000
3,611,200
mstockstill on DSK3G9T082PROD with NOTICES
Form 1042 ...................................................................................................................................
Form 1042–S ...............................................................................................................................
Form 1042–T ...............................................................................................................................
REG–120282–10 .........................................................................................................................
Time per
response
........................
2,945,594
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 debt
SUMMARY:
E:\FR\FM\13MYN1.SGM
13MYN1
mstockstill on DSK3G9T082PROD with NOTICES
Federal Register / Vol. 81, No. 93 / Friday, May 13, 2016 / Notices
instruments with original issue
discount; contingent payments; antiabuse rule.
DATES: Written comments should be
received on or before July 12, 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 Kerry Dennis, Internal
Revenue Service, Room 6526, 1111
Constitution Avenue NW., Washington,
DC 20224, or through the Internet at
Kerry.Dennis@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Debt Instruments With Original
Issue Discount; Contingent Payments;
Anti-Abuse Rule.
OMB Number: 1545–1450.
Regulation Project Number: TD 8674.
Abstract: This regulation relates to the
tax treatment of debt instruments that
provide for one or more contingent
payments. The regulation also treats a
debt instrument and a related hedge as
an integrated transaction. The regulation
provides general rules, definitions, and
reporting and recordkeeping
requirements for contingent payment
debt instruments and for integrated debt
instruments.
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, individuals, and
state, local, or tribal governments.
Estimated Number of Respondents:
180,000.
Estimated Time per Respondent: 30
minutes.
Estimated Total Annual Burden
Hours: 89,000.
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
VerDate Sep<11>2014
18:05 May 12, 2016
Jkt 238001
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: May 2, 2016.
Tuawana Pinkston,
IRS Reports Clearance Officer.
[FR Doc. 2016–11364 Filed 5–12–16; 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
definition of private activity bonds.
DATES: Written comments should be
received on or before July 12, 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 regulations should be
directed to Allan Hopkins at Internal
Revenue Service, Room 6129, 1111
Constitution Avenue NW., Washington,
DC 20224, or through the Internet at
Allan.M.Hopkins@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Definition of Private Activity
Bonds.
SUMMARY:
PO 00000
Frm 00124
Fmt 4703
Sfmt 4703
29955
OMB Number: 1545–1451.
Regulation Project Number: TD 8712.
Abstract: Internal Revenue Code
section 103 provides generally that
interest on certain State or local bonds
is excluded from gross income.
However, under Code sections 103(b)(1)
and 141, interest on private activity
bonds (other than qualified bonds) is
not excluded. This regulation provides
rules, for purposes of Code section 141,
to determine how bond proceeds are
measured and used and how debt
service for those bonds is paid or
secured.
Current Actions: There is no change to
this existing regulation.
Type of Review: Extension of
currently approved collection.
Affected Public: State, local or tribal
governments.
Estimated Number of Respondents:
10,100.
Estimated Time per Respondent: 2
hours, 50 minutes.
Estimated Total Annual Burden
Hours: 30,100.
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.
E:\FR\FM\13MYN1.SGM
13MYN1
]]>Agencies
[Federal Register Volume 81, Number 93 (Friday, May 13, 2016)]
[Notices]
[Pages 29954-29955]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-11364]
-----------------------------------------------------------------------
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
debt
[[Page 29955]]
instruments with original issue discount; contingent payments; anti-
abuse rule.
DATES: Written comments should be received on or before July 12, 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 Kerry Dennis, Internal
Revenue Service, Room 6526, 1111 Constitution Avenue NW., Washington,
DC 20224, or through the Internet at Kerry.Dennis@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Debt Instruments With Original Issue Discount; Contingent
Payments; Anti-Abuse Rule.
OMB Number: 1545-1450.
Regulation Project Number: TD 8674.
Abstract: This regulation relates to the tax treatment of debt
instruments that provide for one or more contingent payments. The
regulation also treats a debt instrument and a related hedge as an
integrated transaction. The regulation provides general rules,
definitions, and reporting and recordkeeping requirements for
contingent payment debt instruments and for integrated debt
instruments.
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,
individuals, and state, local, or tribal governments.
Estimated Number of Respondents: 180,000.
Estimated Time per Respondent: 30 minutes.
Estimated Total Annual Burden Hours: 89,000.
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: May 2, 2016.
Tuawana Pinkston,
IRS Reports Clearance Officer.
[FR Doc. 2016-11364 Filed 5-12-16; 8:45 am]
BILLING CODE 4830-01-P
