Proposed Collection; Comment Request for Regulation Project, 31305-31306 [2016-11649]

Download as PDF sradovich on DSK3TPTVN1PROD with NOTICES Federal Register / Vol. 81, No. 96 / Wednesday, May 18, 2016 / Notices Determination for Debt Instruments and Options; T.D. 9713—Basis Reporting by Securities Brokers and Basis Determination for Debt Instruments and Options; T.D. 9750—Basis and Transfer Reporting by Securities Brokers for Debt Instruments and Options. OMB Number: 1545–2186. Regulation Project Number: REG– 101896–09, REG–102988–11, REG– 154563–12, and REG–143040–14. Abstract: The final regulations under section 6045 provide rules on basis reporting by brokers for transactions involving covered securities, including debt instruments and options. The final regulations under section 6045A provide reporting rules that apply upon a transfer of a covered security from one broker to another broker. These final regulations under sections 6045 and 6045A reflect changes in the law made by the Energy Improvement and Extension Act of 2008, Division B of Public Law 110–343 (122 Stat. 3765, 3854 (2008)), that require brokers when reporting the sale of a covered security to the IRS to include the customer’s adjusted basis in the sold securities and to classify any gain or loss as long-term or short-term. The information collected for covered securities under § 1.6045–1, including § 1.6045–1(c)(3)(xi)(C) (relating to short sales), and § 1.6045A– 1 allows a broker who effects a sale of a transferred covered security, including a debt instrument or option, to determine and report the adjusted basis of the security and whether any gain or loss with respect to the sale is ordinary (for certain debt instruments), longterm, or short-term in compliance with section 6045(g) of the Internal Revenue Code. The information collected under § 1.6045–1(n)(5) relates to information required to be reported by the holder of a debt instrument to a broker for certain holder elections that affect how the debt instrument’s basis is computed, which will enable the broker to comply with its reporting obligations under section 6045(g). Current Actions: There are changes to these existing regulations. Type of Review: Revision of a currently approved collection. Affected Public: Businesses or other for-profit institutions and individuals or households. Estimated Number of Respondents: 79,000. Estimated Total Annual Responses: 11,211,500. Estimated Total Burden Hours: 694,750. VerDate Sep<11>2014 17:10 May 17, 2016 Jkt 238001 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 3, 2016. Tuawana Pinkston, IRS Supervisory Tax Analyst. [FR Doc. 2016–11656 Filed 5–17–16; 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 SUMMARY: PO 00000 Frm 00082 Fmt 4703 Sfmt 4703 31305 soliciting comments concerning source of income from certain space and ocean activities; source of communications income. DATES: Written comments should be received on or before July 18, 2016 to be assured of consideration. ADDRESSES: Direct all written comments to Tuawana Pinkston, Internal Revenue Service, room 6528, 1111 Constitution Avenue NW., Washington, DC 20224. FOR FURTHER INFORMATION CONTACT: Requests for additional information or copies of the regulation should be directed to R. Joseph Durbala at Internal Revenue Service, room 6129, 1111 Constitution Avenue NW., Washington, DC 20224, or at (202) 317–5746, or through the internet at RJoseph.Durbala@irs.gov. SUPPLEMENTARY INFORMATION: Title: Source of Income from Certain Space and Ocean Activities; Source of Communications Income. OMB Number: 1545–1718. Regulation Project Number: TD 9305. Abstract: TD 9305 contains final regulations under section 863(d) governing the source of income from certain space and ocean activities. The final regulations primarily affect persons who derive income from activities conducted in space, or on or under water not within the jurisdiction of a foreign country, possession of the United States, or the United States (in international water). The final regulations also affect persons who derive income from transmission of communications. Current Actions: There is no change to these existing regulations. Type of Review: Extension of a currently approved collection. Affected Public: Business or other forprofit organizations. Estimated Number of Respondents/ Recordkeepers: 250. Estimated Average Time Per Respondent/Recordkeeper: 5 hours. Estimated Total Annual Reporting/ Recordkeeping Hours: 1,250. 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 E:\FR\FM\18MYN1.SGM 18MYN1 31306 Federal Register / Vol. 81, No. 96 / Wednesday, May 18, 2016 / Notices 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 11, 2016. R. Joseph Durbala, IRS Tax Analyst. [FR Doc. 2016–11649 Filed 5–17–16; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Form 8404 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 8404, Interest Charge on DISC-Related Deferred Tax Liability. DATES: Written comments should be received on or before July 18, 2016 to be assured of consideration. ADDRESSES: Direct all written comments to Tuawana Pinkston, Internal Revenue Service, Room 6528, 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 R. Joseph Durbala, Internal Revenue Service, Room 6129, 1111 Constitution Avenue NW., sradovich on DSK3TPTVN1PROD with NOTICES SUMMARY: VerDate Sep<11>2014 17:10 May 17, 2016 Jkt 238001 Washington, DC 20224, or through the Internet at RJoseph.Durbala@irs.gov. SUPPLEMENTARY INFORMATION: Title: Interest Charge on DISC-Related Deferred Tax Liability. OMB Number: 1545–0939. Form Number: 8404. Abstract: Shareholders of Interest Charge Domestic International Sales Corporations (IC–DISCs) use Form 8404 to figure and report an interest charge on their DISC-related deferred tax liability. The interest charge is required by Internal Revenue Code section 995(f). IRS uses Form 8404 to determine whether the shareholder has correctly figured and paid the interest charge on a timely basis. 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: Businesses or other for-profit organizations and individuals. Estimated Number of Responses: 2,000. Estimated Time per Response: 7 hrs., 47 min. Estimated Total Annual Burden Hours: 15,580. 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. PO 00000 Frm 00083 Fmt 4703 Sfmt 4703 Approved: May 10, 2016. R. Joseph Durbala, Tax Analyst, IRS. [FR Doc. 2016–11665 Filed 5–17–16; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Form 2439 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 2439, Notice to Shareholder of Undistributed Long-Term Capital Gains. DATES: Written comments should be received on or before July 18, 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 R. Joseph Durbala, at (202) 317–5746, or at Internal Revenue Service, Room 6129, 1111 Constitution Avenue NW., Washington, DC 20224, or through the internet, at RJoseph.Durbala@irs.gov. SUPPLEMENTARY INFORMATION: Title: Notice to Shareholder of Undistributed Long-Term Capital Gains. OMB Number: 1545–0145. Form Number: 2439. Abstract: Form 2439 is used by regulated investment companies or real estate investment trusts to show shareholders the amount of tax paid on undistributed capital gains under section 852(b)(3)(D) or 857(b)(3)(D). 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 institutions. Estimated Number of Respondents: 6,275. SUMMARY: E:\FR\FM\18MYN1.SGM 18MYN1

Agencies

[Federal Register Volume 81, Number 96 (Wednesday, May 18, 2016)]
[Notices]
[Pages 31305-31306]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-11649]


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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 
source of income from certain space and ocean activities; source of 
communications income.

DATES: Written comments should be received on or before July 18, 2016 
to be assured of consideration.

ADDRESSES: Direct all written comments to Tuawana Pinkston, Internal 
Revenue Service, room 6528, 1111 Constitution Avenue NW., Washington, 
DC 20224.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the regulation should be directed to R. Joseph Durbala at 
Internal Revenue Service, room 6129, 1111 Constitution Avenue NW., 
Washington, DC 20224, or at (202) 317-5746, or through the internet at 
RJoseph.Durbala@irs.gov.

SUPPLEMENTARY INFORMATION: 
    Title: Source of Income from Certain Space and Ocean Activities; 
Source of Communications Income.
    OMB Number: 1545-1718.
    Regulation Project Number: TD 9305.
    Abstract: TD 9305 contains final regulations under section 863(d) 
governing the source of income from certain space and ocean activities. 
The final regulations primarily affect persons who derive income from 
activities conducted in space, or on or under water not within the 
jurisdiction of a foreign country, possession of the United States, or 
the United States (in international water). The final regulations also 
affect persons who derive income from transmission of communications.
    Current Actions: There is no change to these existing regulations.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents/Recordkeepers: 250.
    Estimated Average Time Per Respondent/Recordkeeper: 5 hours.
    Estimated Total Annual Reporting/Recordkeeping Hours: 1,250.
    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

[[Page 31306]]

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 11, 2016.
R. Joseph Durbala,
IRS Tax Analyst.
[FR Doc. 2016-11649 Filed 5-17-16; 8:45 am]
 BILLING CODE 4830-01-P