Proposed Collection; Comment Request for Form 1120-C, 95308-95309 [2016-31202]
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95308
Federal Register / Vol. 81, No. 248 / Tuesday, December 27, 2016 / Notices
Income Housing Credit Disaster Relief
for Oklahoma Severe Storms and
Tornadoes Disaster Relief.
OMB Number: 1545–2244.
Notice Numbers: Notices 2013–39 and
2013–40.
Abstract: The Internal Revenue
Service is suspending certain
requirements under § 42 of the Internal
Revenue Code for low-income housing
credit projects to provide emergency
housing relief needed as a result of the
devastation caused by severe storms and
tornadoes in the State of Oklahoma
beginning May 18, 2013. This relief is
being granted pursuant to the Service’s
authority under § 42(n) and § 1.42–13(a)
of the Income Tax Regulations.
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.
Notice 2013–39:
Estimated Number of Respondents:
50.
Estimated Time per Response: 30 min.
Estimated Total Annual Burden
Hours: 25.
asabaliauskas on DSK3SPTVN1PROD with NOTICES
Notice 2013–40:
Estimated Number of Respondents:
1200.
Estimated Time per Response: 15 min.
Estimated Total Annual Burden
Hours: 300.
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
VerDate Sep<11>2014
20:45 Dec 23, 2016
Jkt 241001
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: December 19, 2016.
Tuawana Pinkston,
Supervisory Tax Analyst.
[FR Doc. 2016–31204 Filed 12–23–16; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment
Request for Form 1120–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.
Currently, the IRS is soliciting
comments concerning Form 1120–C,
U.S. Income Tax Return for Cooperative
Associations.
DATES: Written comments should be
received on or before February 27, 2017
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 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: U.S. Income Tax Return for
Cooperative Associations.
OMB Number: 1545–2052.
Form Number: 1120–C.
Abstract: IRS Code section 1381
requires subchapter T cooperatives to
file returns. Previously, farmers’
cooperatives filed Form 990–C and
other subchapter T cooperatives filed
Form 1120. If the subchapter T
cooperative does not meet certain
SUMMARY:
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Sfmt 4703
requirements, the due date of their
return is two and one-half months after
the end of their tax year which is the
same as the due date for all other
corporations. The due date for income
tax returns filed by subchapter T
cooperatives who meet certain
requirements is eight and one-half
months after the end of their tax year.
Cooperatives who filed their income tax
returns on Form 1120 were considered
to be late and penalties were assessed
since they had not filed by the normal
due date for Form 1120. Due to the
assessment of the penalties, burden was
placed on the taxpayer and on the IRS
employees to resolve the issue.
Proposed regulations (Reg–149436–04)
published in the Federal Register (71
FR 43811), proposes that all subchapter
T cooperatives will file Form 1120–C,
U.S. Income Tax Return for Cooperative
Associations.
Current Actions: There are no changes
being made to this collection at this
time.
Type of Review: Extension of a
currently approved collection.
Affected Public: Businesses and other
for-profit organizations.
Estimated Number of Respondents:
3,000.
Estimated Time per Respondent: 111
hours, 54 minutes.
Estimated Total Annual Burden
Hours: 335,700.
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
E:\FR\FM\27DEN1.SGM
27DEN1
Federal Register / Vol. 81, No. 248 / Tuesday, December 27, 2016 / Notices
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: December 21, 2016.
Allan Hopkins,
Tax Analyst.
[FR Doc. 2016–31202 Filed 12–23–16; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Submission for OMB Review;
Comment Request
December 21, 2016.
The Department of the Treasury will
submit the following information
collection requests to the Office of
Management and Budget (OMB) for
review and clearance in accordance
with the Paperwork Reduction Act of
1995, Public Law 104–13, on or after the
date of publication of this notice.
DATES: Comments should be received on
or before January 26, 2017 to be assured
of consideration.
ADDRESSES: Send comments regarding
the burden estimates, or any other
aspect of the information collections,
including suggestions for reducing the
burden, to (1) Office of Information and
Regulatory Affairs, Office of
Management and Budget, Attention:
Desk Officer for Treasury, New
Executive Office Building, Room 10235,
Washington, DC 20503, or email at
OIRA_Submission@OMB.EOP.gov and
(2) Treasury PRA Clearance Officer,
1750 Pennsylvania Ave. NW., Suite
8142, Washington, DC 20220, or email
at PRA@treasury.gov.
FOR FURTHER INFORMATION CONTACT:
Copies of the submissions may be
obtained by emailing PRA@treasury.gov,
calling (202) 622–0934, or viewing the
entire information collection request at
www.reginfo.gov.
asabaliauskas on DSK3SPTVN1PROD with NOTICES
Internal Revenue Service (IRS)
OMB Control Number: 1545–0242.
Type of Review: Extension without
change of a currently approved
collection.
Title: Gas Guzzler Tax.
Forms: 6197.
Abstract: Form 6197 is used to
compute the gas guzzler tax on
automobiles whose fuel economy does
not meet certain standard for fuel
economy. The tax is reported quarterly
on Form 720. Form 6197 is filed each
quarter with Form 720 for
manufacturers. Individuals can make a
one-time filing if they import a gas
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20:45 Dec 23, 2016
Jkt 241001
guzzler auto for personal use. The IRS
uses the information to verify
computation of the tax and compliance
with the law.
Affected Public: Businesses or other
for-profits.
Estimated Total Annual Burden
Hours: 4659.
OMB Control Number: 1545–1013.
Type of Review: Extension without
change of a currently approved
collection.
Title: Return of Excise Tax on
Undistributed Income of Real Estate
Investment Trusts.
Abstract: Form 8612 is used by real
estate investment trusts to compute and
pay the excise tax on undistributed
income imposed under section 4981.
IRS uses the information to verify that
the correct amount of tax has been
reported.
Form: 8612.
Affected Public: Businesses or other
for-profits.
Estimated Total Annual Burden
Hours: 196.
OMB Control Number: 1545–1068.
Type of Review: Extension without
change of a currently approved
collection.
Title: T.D. 8618—Definition of a
Controlled Foreign Corporation, Foreign
Base Company Income, and Foreign
Personal Holding Company Income of a
Controlled Foreign Corporation (INTL–
362–88).
Abstract: The election and
recordkeeping requirements are
necessary to exclude certain high-taxed
or active business income from subpart
F income or to include certain income
in the appropriate category of subpart F
income. The recordkeeping and election
procedures allow the U.S. shareholders
and the IRS to know the amount of the
controlled foreign corporation’s subpart
F income.
Affected Public: Businesses or other
for-profits.
Estimated Total Annual Burden
Hours: 50,417.
OMB Control Number: 1545–1709.
Type of Review: Revision of a
currently approved collection.
Title: Application for Automatic
Extension of Time to File an Exempt
Organization Return (Form-8868).
Form: 8868.
Abstract: 26 U.S.C. 6081 of the
Internal Revenue Code grants a
reasonable extension of time for filing
any return. This form is used by
fiduciaries and certain exempt
organizations, to request an extension of
time to file their returns. The
information is used to determine
whether the extension should be
granted.
PO 00000
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Fmt 4703
Sfmt 4703
95309
Affected Public: Not-for-profit
institutions.
Estimated Total Annual Burden
Hours: 1,048,290.
OMB Control Number: 1545–1729.
Type of Review: Extension without
change of a currently approved
collection.
Title: TD 9114 (Final) Electronic
Payee Statements.
Abstract: In general, under these
regulations, a person required to furnish
a statement on Form W–2 under Code
sections 6041(d) or 6051, or Forms
1098–T or 1098–E under Code section
6050S, may furnish these statements
electronically if the recipient consents
to receive them electronically, and if the
person furnishing the statement (1)
makes certain disclosures to the
recipient, (2) annually notifies the
recipient that the statement is available
on a Web site, and (3) provides access
to the statement on that Web site for a
prescribed period of time.
Affected Public: Businesses or other
for-profits.
Estimated Total Annual Burden
Hours: 2,844,950.
OMB Control Number: 1545–1733.
Type of Review: Revision of a
currently approved collection.
Title: Form 720–CS, Carrier Summary
Report, Form 720–TO, Terminal
Operator Report, and Form 8809–EX,
Request for Extension of Time to File an
ExSTARS Information Return.
Form: 720–CS, 720–TO, 8809–EX
Abstract: Representatives of the motor
fuel industry, state governments, and
the Federal government are working to
ensure compliance with excise taxes on
motor fuels. This joint effort has
resulted in a system to track the
movement of all products to and from
terminals. Form 720–CS is an
information return that will be used by
carriers to report their monthly
deliveries and receipts of products to
and from terminals. Form 720–TO is
completed by bulk transport carriers
(barges, vessels, and pipeline) who
deliver fuel product to the terminals.
Form 8809–EX is used to request a 30day extension of time to file an Excise
Summary terminal Activity Reporting
System (ExSTARS) information report
(Form 720CS, Carrier Summary Report
or Form 720TO, Terminal operator
Report).
Affected Public: Businesses or other
for-profits.
Estimated Total Annual Burden
Hours: 2,530,383.
OMB Control Number: 1545–1908.
Type of Review: Extension without
change of a currently approved
collection.
E:\FR\FM\27DEN1.SGM
27DEN1
]]>Agencies
[Federal Register Volume 81, Number 248 (Tuesday, December 27, 2016)]
[Notices]
[Pages 95308-95309]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-31202]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment Request for Form 1120-C
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. Currently, the IRS is soliciting
comments concerning Form 1120-C, U.S. Income Tax Return for Cooperative
Associations.
DATES: Written comments should be received on or before February 27,
2017 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 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: U.S. Income Tax Return for Cooperative Associations.
OMB Number: 1545-2052.
Form Number: 1120-C.
Abstract: IRS Code section 1381 requires subchapter T cooperatives
to file returns. Previously, farmers' cooperatives filed Form 990-C and
other subchapter T cooperatives filed Form 1120. If the subchapter T
cooperative does not meet certain requirements, the due date of their
return is two and one-half months after the end of their tax year which
is the same as the due date for all other corporations. The due date
for income tax returns filed by subchapter T cooperatives who meet
certain requirements is eight and one-half months after the end of
their tax year. Cooperatives who filed their income tax returns on Form
1120 were considered to be late and penalties were assessed since they
had not filed by the normal due date for Form 1120. Due to the
assessment of the penalties, burden was placed on the taxpayer and on
the IRS employees to resolve the issue. Proposed regulations (Reg-
149436-04) published in the Federal Register (71 FR 43811), proposes
that all subchapter T cooperatives will file Form 1120-C, U.S. Income
Tax Return for Cooperative Associations.
Current Actions: There are no changes being made to this collection
at this time.
Type of Review: Extension of a currently approved collection.
Affected Public: Businesses and other for-profit organizations.
Estimated Number of Respondents: 3,000.
Estimated Time per Respondent: 111 hours, 54 minutes.
Estimated Total Annual Burden Hours: 335,700.
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
[[Page 95309]]
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: December 21, 2016.
Allan Hopkins,
Tax Analyst.
[FR Doc. 2016-31202 Filed 12-23-16; 8:45 am]
BILLING CODE 4830-01-P
