Proposed Collection; Comment Request on Effectively Connected Income and the Branch Profits Tax, 66747 [2016-23396]
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Federal Register / Vol. 81, No. 188 / Wednesday, September 28, 2016 / Notices
1111 Constitution Avenue NW.,
Washington, DC 20224, or at (202) 317–
5746, or through the internet at
RJoseph.Durbala@irs.gov.
mstockstill on DSK3G9T082PROD with NOTICES
SUPPLEMENTARY INFORMATION:
Title: Certification for No Information
Reporting on the Sale of a Principal
Residence.
OMB Number: 1545–1592.
Revenue Procedure Number: Revenue
Procedure 98–20.
Abstract: This revenue procedure sets
forth the acceptable form of the written
assurances (certification) that a real
estate reporting person must obtain from
the seller of a principal residence to
except such sale or exchange from the
information reporting requirements for
real estate transactions under section
6045(e)(5) of the Internal Revenue Code.
Current Actions: There are no changes
being made to the revenue procedure at
this time.
Type of Review: Extension of a
currently approved collection.
Affected Public: Individuals or
households, and business or other forprofit organizations.
Estimated Number of Respondents:
2,300,000.
Estimated Time per Respondent: 10
minutes.
Estimated Total Annual Burden
Hours for Respondents: 383,000.
Estimated Number of Recordkeepers:
90,000.
Estimated Time per Recordkeeeper:
25 minutes.
Estimated Total Annual Burden
Hours for Recordkeepers: 37,500.
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
VerDate Sep<11>2014
18:04 Sep 27, 2016
Jkt 238001
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: September 21, 2016.
R. Joseph Durbala,
IRS, Tax Analyst.
[FR Doc. 2016–23394 Filed 9–27–16; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment
Request on Effectively Connected
Income and the Branch Profits Tax
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 the
branch tax; the branch profits Tax; and
the regulations on effectively connected
income and the branch profits tax.
DATES: Written comments should be
received on or before November 28,
2016 to be assured of consideration.
ADDRESSES: Direct all written comments
to Tuawana Pinkston, Internal Revenue
Service, Room 6527, 1111 Constitution
Avenue NW., Washington, DC 20224.
FOR FURTHER INFORMATION CONTACT:
Requests for additional information or
copies of the regulations 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: TD 8223, Branch Tax; TD 8432,
Branch Profits Tax; and TD 8657,
Regulations on Effectively Connected
Income and the Branch Profits Tax.
SUMMARY:
PO 00000
Frm 00128
Fmt 4703
Sfmt 9990
66747
OMB Number: 1545–1070. Regulation
Project Number: TD 8223, TD 8432, and
TD 8657.
Abstract: These regulations provide
guidance on how to comply with
Internal Revenue Code section 884,
which imposes a tax on the earnings of
a foreign corporation’s branch that are
removed from the branch and which
subjects interest paid by the branch, and
certain interest deducted by the foreign
corporation, to tax.
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:
59,100.
Estimated Time per Respondent:
12.887 minutes.
Estimated Total Annual Burden
Hours: 12,694.
The following paragraph applies to all
of the collections of 1information
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: September 21, 2016.
R. Joseph Durbala,
IRS, Tax Analyst.
[FR Doc. 2016–23396 Filed 9–27–16; 8:45 am]
BILLING CODE 4830–01–P
E:\FR\FM\28SEN1.SGM
28SEN1
]]>Agencies
[Federal Register Volume 81, Number 188 (Wednesday, September 28, 2016)]
[Notices]
[Page 66747]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-23396]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment Request on Effectively Connected
Income and the Branch Profits Tax
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
the branch tax; the branch profits Tax; and the regulations on
effectively connected income and the branch profits tax.
DATES: Written comments should be received on or before November 28,
2016 to be assured of consideration.
ADDRESSES: Direct all written comments to Tuawana Pinkston, Internal
Revenue Service, Room 6527, 1111 Constitution Avenue NW., Washington,
DC 20224.
FOR FURTHER INFORMATION CONTACT: Requests for additional information or
copies of the regulations 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: TD 8223, Branch Tax; TD 8432, Branch Profits Tax; and TD
8657, Regulations on Effectively Connected Income and the Branch
Profits Tax.
OMB Number: 1545-1070. Regulation Project Number: TD 8223, TD 8432,
and TD 8657.
Abstract: These regulations provide guidance on how to comply with
Internal Revenue Code section 884, which imposes a tax on the earnings
of a foreign corporation's branch that are removed from the branch and
which subjects interest paid by the branch, and certain interest
deducted by the foreign corporation, to tax.
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: 59,100.
Estimated Time per Respondent: 12.887 minutes.
Estimated Total Annual Burden Hours: 12,694.
The following paragraph applies to all of the collections of
1information 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: September 21, 2016.
R. Joseph Durbala,
IRS, Tax Analyst.
[FR Doc. 2016-23396 Filed 9-27-16; 8:45 am]
BILLING CODE 4830-01-P
