Proposed Collection; Comment Request for Forms 1065, 1065-B, 1066, 1120, 1120-C, 1120-F, 1120-FSC, 1120-H, 1120-L, 1120-ND, 1120-PC, 1120-POL, 1120-S, 1120-SF, 1120-REIT, 1120-RIC, and Related Attachments, 24447-24453 [2017-10789]
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Federal Register / Vol. 82, No. 101 / Friday, May 26, 2017 / Notices
(ii) a historical track record of awarding
graduate degrees in professional fields
closely related to highways and public
transportation; and
(iii) an experienced faculty who specialize
in professional fields closely related to
highways and public transportation.
(49 U.S.C. 5505(c)(3)(B) (iii) as amended
by Pub. L. 114–94, § 6016).
Past Performance. The Department is
required by 2 CFR part 200, Uniform
Administrative Requirements, Cost
Principles, and Audit Requirements for
Federal Awards, Section 205, to review
risk posed by applicants. This may be
done through such publicly available
information collections as the System
for Award Management (SAM.gov) and/
or through specifically collected
information about the applicant’s record
in managing Federal awards.
External Stakeholders. The
Department will consult with external
stakeholders (including the
Transportation Research Board ofthe
National Academy of Sciences, among
others), to the maximum extent
practicable, to evaluate and review all
proposals. (49 U.S.C. 5505(b)(6) as
amended by Pub. L. 114–94, § 6016).
V. Program Funding and Award
UTCs will be selected by the
Secretary, in consultation as appropriate
with the Assistant Secretary for
Research and Technology, the
Administrator of the Federal Highway
Administration and other modal
administrators as appropriate. Awards
will be made no later than December 4,
2017, with Federal FY 2016 funds
awarded at that time. Subsequent
Federal FY 2017–FY 2020 funding will
be awarded approximately annually
after that date, subject to availability of
funds and grantee compliance with
grant terms and conditions.
VI. Use of Grant Funds
Grantees will have until September
30, 2023 to expend all funds, assuming
availability of annual appropriations.
Issued in Washington, DC, on May 23,
2017.
Elaine L. Chao,
Secretary.
[FR Doc. 2017–10927 Filed 5–25–17; 8:45 am]
BILLING CODE 4910–9X–P
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment
Request for Forms 1065, 1065–B, 1066,
1120, 1120–C, 1120–F, 1120–FSC,
1120–H, 1120–L, 1120–ND, 1120–PC,
1120–POL, 1120–S, 1120–SF, 1120–
REIT, 1120–RIC, and Related
Attachments
Internal Revenue Service (IRS),
Treasury.
ACTION: Notice and request for
comments.
AGENCY:
The Internal Revenue Service,
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 continuing information collections,
as required by the Paperwork Reduction
Act of 1995 (PRA). This notice requests
comments on all forms used by business
entity taxpayers:
Forms 1065, 1065–B, 1066, 1120,
1120–C, 1120–F, 1120–FSC, 1120–H,
1120–L, 1120–ND, 1120–PC, 1120–POL,
1120–S, 1120–SF, 1120–REIT, 1120–
RIC; and all attachments to these forms
(see the Appendix to this notice). With
this notice, the IRS is also announcing
significant changes to (1) the manner in
which tax forms used by business
taxpayers will be approved under the
PRA and (2) its method of estimating the
paperwork burden imposed on all
business taxpayers.
DATES: Written comments should be
received on or before July 25, 2017 to be
assured of consideration.
ADDRESSES: Direct all written comments
to Laurie Brimmer, Internal Revenue
Service, Room 6526, 1111 Constitution
Avenue NW., Washington, DC 20224.
Requests for additional information or
copies of the form and instructions
should be directed to Sara Covington, at
Internal Revenue Service, Room 6526,
1111 Constitution Avenue NW.,
Washington, DC 20224, or through the
internet, at Sara.L.Covington@irs.gov.
SUPPLEMENTARY INFORMATION:
SUMMARY:
Change in PRA Approval of Forms
Used by Business Taxpayers
Under the PRA, OMB assigns a
control number to each ‘‘collection of
information’’ that it reviews and
approves for use by an agency. A single
information collection may consist of
one or more forms, recordkeeping
requirements, and/or third-party
disclosure requirements. Under the PRA
and OMB regulations, agencies have the
discretion to seek separate OMB
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24447
approvals for business forms,
recordkeeping requirements, and thirdparty reporting requirements or to
combine any number of forms,
recordkeeping requirements, and/or
third-party disclosure requirements
(usually related in subject matter) under
one OMB Control Number. Agency
decisions on whether to group
individual requirements under a single
OMB Control Number or to disaggregate
them and request separate OMB Control
Numbers are based largely on
considerations of administrative
practicality.
The PRA also requires agencies to
estimate the burden for each collection
of information. Accordingly, each OMB
Control Number has an associated
burden estimate. The burden estimates
for each control number are displayed
in (1) the PRA notices that accompany
collections of information, (2) Federal
Register notices such as this one, and
(3) in OMB’s database of approved
information collections. If more than
one form, recordkeeping requirement,
and/or third-party disclosure
requirement is approved under a single
control number, then the burden
estimate for that control number reflects
the burden associated with all of the
approved forms, recordkeeping
requirements, and/or third-party
disclosure requirements.
As described below under the heading
‘‘New Burden Model,’’ the IRS’s new
Business Taxpayer Burden Model
(BTBM) estimates of taxpayer burden
are based on taxpayer characteristics
and activities, taking into account,
among other things, the forms and
schedules generally used by those
groups of business taxpayers and the
recordkeeping and other activities
needed to complete those forms. The
BTBM represents the second phase of a
long-term effort to improve the ability of
IRS to measure the burden imposed on
various groups of taxpayers by the
federal tax system. While the new
methodology provides a more accurate
and comprehensive description of
business taxpayer burden, it will not
provide burden estimates on a form-byform basis, as has been done under the
previous methodology. When the prior
model was developed in the mid-1980s,
almost all tax returns were prepared
manually, either by the taxpayer or a
paid provider. In this context, it was
determined that estimating burden on a
form-by-form basis was an appropriate
methodology. Today, over 90 percent of
all business entity tax returns are
prepared using software or with
preparer assistance. In this
environment, in which many taxpayers’
activities are no longer as directly
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associated with particular forms,
estimating burden on a form-by-form
basis is not an appropriate measurement
of taxpayer burden. The new model,
which takes into account broader and
more comprehensive taxpayer
characteristics and activities, provides a
much more accurate and useful estimate
of taxpayer burden.
Currently, there are 231 forms used by
business taxpayers. These include
Forms 1065, 1065–B, 1066, 1120, 1120–
C, 1120–F, 1120–H, 1120–ND, 1120–S,
1120–SF, 1120–FSC, 1120–L, 1120–PC,
1120–REIT, 1120–RIC, 1120–POL, and
their schedules and all the forms
business entity taxpayers attach to their
tax returns (see the Appendix to this
notice). For most of these forms, IRS has
in the past obtained separate OMB
approvals under unique OMB Control
Numbers and separate burden estimates.
The BTBM estimates the aggregate
burden imposed on business taxpayers,
based upon their tax-related
characteristics and activities. IRS
therefore will seek OMB approval of all
231 business-related tax forms as a
single ‘‘collection of information.’’ The
aggregate burden of these tax forms will
be accounted for under OMB Control
Number 1545–0123, which is currently
assigned to Form 1120 and its
schedules. OMB Control Number 1545–
0123 will be displayed on all business
tax forms and other information
collections. As a result of this change,
burden estimates for business taxpayers
will now be displayed differently in
PRA Notices on tax forms and other
information collections, and in Federal
Register notices. This new way of
displaying burden is presented below
under the heading ‘‘Proposed PRA
Submission to OMB.’’ Because some of
the forms used by business taxpayers
are also used by tax-exempt
organizations, trusts and estates and
other kinds of taxpayers, there will be
a transition period during which IRS
will report different burden estimates
for individual taxpayers (OMB Control
Number 1545–0074), business taxpayers
(OMB Control Number 1545–0123), and
another OMB Control Number for other
taxpayers using the same forms. For
those forms covered under OMB Control
Numbers 1545–0074 and/or 1545–0123
and also used by other taxpayers, IRS
will display the OMB Control Number
related to the other filers on the form
and provide the burden estimate for
those taxpayers in the form instructions.
The form instructions will refer readers
to the burden estimates for individual
and/or business taxpayers, as
applicable. The burden estimates for
business taxpayers will be reported and
accounted for as described in this
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notice. The burden estimates for
individual taxpayers will continue to be
reported and accounted for under OMB
Control Number 1545–0074 using a
method similar to the method described
in this notice. The burden estimates for
other users of these forms will be
determined under prior methodology
based on form length and complexity.
New Burden Model
Data from the new BTBM revise the
estimates of the levels of burden
experienced by business taxpayers
when complying with the federal tax
laws. It replaces the earlier burden
measurement developed in the mid1980s. Since that time, improved
technology and modeling sophistication
have enabled the IRS to improve the
burden estimates. The new model
provides taxpayers and the IRS with a
more comprehensive understanding of
the current levels of taxpayer burden. It
reflects major changes over the past two
decades in the way taxpayers prepare
and file their returns. The new BTBM
also represents a substantial step
forward in the IRS’s ability to assess
likely impacts of administrative and
legislative changes on business
taxpayers.
The BTBM’s approach to measuring
burden focuses on the characteristics
and activities of business taxpayers
rather than the forms they use. Key
determinants of taxpayer burden in the
model are the type of entity, total assets,
total receipts, and activities reported on
the tax return (income, deductions,
credits, etc.). In contrast, the previous
estimates primarily focused on the
length and complexity of each tax form.
The changes between the old and new
burden estimates are due to the
improved ability of the new
methodology to measure burden and the
expanded scope of what is measured.
These changes create a one-time shift in
the estimate of burden levels that
reflects the better measurement of the
new model. The differences in estimates
between the models do not reflect any
change in the actual burden experienced
by taxpayers. Comparisons should not
be made between these and the earlier
published estimates, because the models
measure burden in different ways.
Methodology
Burden is defined as the time and outof-pocket costs incurred by taxpayers to
comply with the federal tax system. As
has been done for individual taxpayer
burden since 2005, both the time
expended and the out-of-pocket costs
for business taxpayers are estimated.
The burden estimation methodology
relies on surveys that measure time and
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out-of-pocket costs that taxpayers spend
on pre-filing and filing activities. The
methodology establishes econometric
relationships between tax return
characteristics and reported compliance
costs. The methodology controls for the
substitution of time and money by
monetizing time and reporting total
compliance costs in dollars. This
methodology better reflects taxpayer
compliance burden, because in a world
of electronic tax preparation, time and
out-of-pocket costs are governed by the
information required rather than the
form on which it is ultimately reported.
Importantly, even where various
businesses complete the same tax form
lines, the new methodology
differentiates the cost incurred to
complete those forms based on
characteristics of those businesses. Key
business characteristics that serve as
coefficients in the BTBM are:
• Entity type
• Total assets
• Total receipts
• Return complexity
The new model uses the following
classifications of business taxpayers:
• Partnerships (Forms 1065, 1065–B,
1066)
• Taxable corporations (Forms 1120,
1120–C, 1120–F, 1120–H, 1120–ND,
1120–SF, 1120–FSC, 1120–L, 1120–
PC, 1120–POL)
• Pass-through corporations (Forms
1120–REIT, 1120–RIC, 1120–S)
Each classification is further refined
to separate large and small businesses,
where a large business is generally
defined as one having end of year assets
totaling more than $10 million.
Taxpayer Burden Estimates
Tables 1, 2, and 3 below show the
burden model estimates for each of the
three classifications of business
taxpayers. The data shown are the best
estimates for 2017 business entity
income tax returns available as of
January 2017. The estimates are subject
to change as new forms and data
become available.
Proposed PRA Submission to OMB
Title: U.S. Business Income Tax
Return.
OMB Number: 1545–0123.
Form Numbers: Forms 1065, 1065–B,
1066, 1120, 1120–C, 1120–F, 1120–H,
1120–ND, 1120–S, 1120–SF, 1120–FSC,
1120–L, 1120–PC, 1120–REIT, 1120–
RIC, 1120–POL and all attachments to
these forms (see the Appendix to this
notice).
Abstract: These forms are used by
businesses to report their income tax
liability. The data is used to verify that
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the items reported on the forms are
correct, and also for general statistics
use.
Current Actions: Changes are being
made to the forms and the method of
burden computation.
Type of Review: Revision of currently
approved collections.
Affected Public: Businesses.
Estimated Number of Respondents:
11,000,000.
Total Estimated Time: 3.040 billion
hours.
Estimated Time per Respondent: 276
hours.
Total Estimated Out-of-Pocket Costs:
$53.64 billion.
Estimated Out-of-Pocket Cost per
FY2017. Respondent: $4,876.
Note: Amounts below are for FY2017.
Reported time and cost burdens are national
averages and do not necessarily reflect a
‘‘typical’’ case. Most taxpayers experience
lower than average burden, with taxpayer
burden varying considerably by taxpayer
type. Detail may not add due to rounding.
TABLE 1
Number of
returns
(millions)
Primary form filed or type of taxpayer
All Partnerships ............................................................................................................................
Small ............................................................................................................................................
Large* ..........................................................................................................................................
Burden
Average time
3.9
3.7
0.2
Average cost
290
270
610
5,700
4,400
29,000
Forms 1065, 1065–B, 1066 and all attachments.
TABLE 2
Number of
returns
(millions)
Primary form filed or type of taxpayer
All Taxable Corporations .............................................................................................................
Small ............................................................................................................................................
Large* ..........................................................................................................................................
Burden
Average time
2.1
2
0.1
Average cost
315
280
1,250
6,300
4,000
68,900
Forms 1120, 1120–C, 1120–F, 1120–H, 1120–ND, 1120–SF, 1120–FSC, 1120–L, 1120–PC, 1120–POL and all attachments.
TABLE 3
Number of
returns
(millions)
Primary form filed or type of taxpayer
All Pass-Through Corporations ...................................................................................................
Small ............................................................................................................................................
Large* * ........................................................................................................................................
Burden
Average time
4.9
4.8
0.1
245
240
610
Average cost
3,500
3,100
30,800
Forms 1120–REIT, 1120–RIC, 1120–S and all attachments
* A large business is defined as one having end of year assets greater than $10 million.
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 will 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.
Dated: May 18, 2017.
Laurie Brimmer,
Senior Tax Analyst.
APPENDIX
Product
Form
Form
Form
Form
Form
Form
Form
1000
1042
1065
1065
1065
1065
1065
Title
..........................................................
..........................................................
..........................................................
(SCH B–1) ........................................
(SCH C) ...........................................
(SCH D) ...........................................
(SCH K–1) ........................................
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Ownership Certificate.
Annual Withholding Tax Return for U.S. Source Income of Foreign Persons.
U.S. Return of Partnership Income.
Information for Partners Owning 50% or More of the Partnership.
Additional Information for Schedule M–3 Filers.
Capital Gains and Losses.
Partner’s Share of Income, Deductions, Credits, etc.
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APPENDIX—Continued
Product
Title
Form
Form
Form
Form
Form
Form
Form
Form
Form
1065 (SCH M–3) .......................................
1065B ........................................................
1065B (SCH K–1) .....................................
1065X ........................................................
1066 ..........................................................
1066 (SCH Q) ...........................................
1118 ..........................................................
1118 (SCH I) .............................................
1118 (SCH J) ............................................
Form 1139 ..........................................................
Net Income (Loss) Reconciliation for Certain Partnerships.
U.S. Return of Income for Electing Large Partnerships.
Partner’s Share of Income (Loss) From an Electing Large Partnership.
Amended Return or Administrative Adjustment Request (AAR).
U.S. Real Estate Mortgage Investment Conduit (REMIC) Income Tax Return.
Quarterly Notice to Residual Interest Holder of REMIC Taxable Income or Net Loss Allocation.
Foreign Tax Credit-Corporations.
Reduction of Foreign Oil and Gas Taxes.
Adjustments to Separate Limitation Income (Loss) Categories for Determining Numerators of
Limitation Fractions, Year-End Recharacterization Balances, and Overall Foreign and Domestic Loss Account Balances.
Foreign Tax Carryover Reconciliation Schedule.
U.S. Corporation Income Tax Return.
Additional Information for Schedule M–3 Filers.
Capital Gains and Losses.
Information on Certain Persons Owning the Corporation’s Voting Stock.
Section 280H Limitations for a Personal Service Corporation (PSC).
Net Income (Loss) Reconciliation for Corporations With Total Assets of $10 Million of More.
Foreign Operations of U.S. Corporations.
Consent Plan and Apportionment Schedule for a Controlled Group.
U.S. Personal Holding Company (PHC) Tax.
Uncertain Tax Position Statement.
U.S. Income Tax Return for Cooperative Associations.
U.S. Income Tax Return of a Foreign Corporation.
Deductions Allocated to Effectively Connected Income Under Regulations Section 1.861–8.
Interest Expense Allocation Under Regulations Section 1.882–5.
Reconciliation of Income (Loss) and Analysis of Unappropriated Retained Earnings per Books.
Net Income (Loss) Reconciliation for Foreign Corporations With Reportable Assets of $10 Million or More.
List of Foreign Partner Interests in Partnerships.
Exclusion of Income From the International Operation of Ships or Aircraft Under Section 883.
List of Vessels or Aircraft, Operators, and Owners.
U.S. Income Tax Return of a Foreign Sales Corporation.
Transfer Price or Commission.
U.S. Income Tax Return for Homeowners Associations.
Shareholder’s Statement of IC–DISC Distributions.
Intercompany Transfer Price or Commission.
Interest Charge Domestic International Sales Corporation Return.
Borrower’s Certificate of Compliance With the Rules for Producer’s Loans.
U.S. Life Insurance Company Income Tax Return.
Net Income (Loss) Reconciliation for U.S. Life Insurance Companies With Total Assets of $10
Million or More.
Return for Nuclear Decommissioning Funds and Certain Related Persons.
U.S. Property and Casualty Insurance Company Income Tax Return.
Net Income (Loss) Reconciliation for U.S. Property and Casualty Insurance Companies With
Total Assets of $10 Million or More.
U.S. Income Tax Return for Certain Political Organizations.
U.S. Income Tax Return for Real Estate Investment Trusts.
U.S. Income Tax Return for Regulated Investment Companies.
U.S. Income Tax Return for an S Corporation.
Information on Certain Shareholders of an S Corporation.
Capital Gains and Losses and Built-In Gains.
Shareholder’s Share of Income, Deductions, Credits, etc.
Net Income (Loss) Reconciliation for S Corporations With Total Assets of $10 Million or More.
U.S. Income Tax Return for Settlement Funds (Under Section 468B).
Estimated Tax for Corporations.
Amended U.S. Corporation Income Tax Return.
Authorization and Consent of Subsidiary Corporation to be Included in a Consolidated Income
Tax Return.
Cost of Goods Sold.
Compensation of Officers.
Application for Extension of Time for Payment of Tax.
Application to Adopt, Change, or Retain a Tax Year.
Extension of Time For Payment of Taxes By a Corporation Expecting a Net Operating Loss
Carryback.
Corporation Application for Tentative Refund.
Form
Form
Form
Form
Form
Form
Form
Form
Form
Form
Form
Form
Form
Form
Form
Form
Form
1118 (SCH K) ............................................
1120 ..........................................................
1120 (SCH B) ............................................
1120 (SCH D) ...........................................
1120 (SCH G) ...........................................
1120 (SCH H) ...........................................
1120 (SCH M–3) .......................................
1120 (SCH N) ...........................................
1120 (SCH O) ...........................................
1120 (SCH PH) .........................................
1120 (SCH UTP) .......................................
1120–C ......................................................
1120F ........................................................
1120–F (SCH H) .......................................
1120–F (SCH I) .........................................
1120–F (SCH M1 & M2) ...........................
1120–F (SCH M–3) ...................................
Form
Form
Form
Form
Form
Form
Form
Form
Form
Form
Form
Form
1120–F (SCH P) .......................................
1120F(SCH S) ...........................................
1120F(SCH V) ...........................................
1120FSC ...................................................
1120FSC (SCH P) ....................................
1120H ........................................................
1120ICD (SCH K) .....................................
1120ICD (SCH P) .....................................
1120IC–DISC ............................................
1120–IC–DISC (SCH Q) ...........................
1120L ........................................................
1120–L (SCH M–3) ...................................
Form
Form
Form
Form
Form
Underpayment of Estimated Tax By Corporations.
Undistributed Capital Gains Tax Return.
Election by a Small Business Corporation.
Power of Attorney and Declaration of Representative.
Application for Change in Accounting Method.
Form 1120ND .....................................................
Form 1120PC .....................................................
Form 1120–PC (SCH M–3) ................................
Form
Form
Form
Form
Form
Form
Form
Form
Form
Form
Form
Form
1120POL ...................................................
1120REIT ..................................................
1120RIC ....................................................
1120S ........................................................
1120S (SCH B–1) .....................................
1120S (SCH D) .........................................
1120S (SCH K–1) .....................................
1120S (SCH M–3) .....................................
1120SF ......................................................
1120W .......................................................
1120X ........................................................
1122 ..........................................................
Form
Form
Form
Form
Form
1125–A ......................................................
1125–E ......................................................
1127 ..........................................................
1128 ..........................................................
1138 ..........................................................
2220
2438
2553
2848
3115
..........................................................
..........................................................
..........................................................
..........................................................
..........................................................
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24451
APPENDIX—Continued
Product
Title
Form 3468 ..........................................................
Form 3520 ..........................................................
Investment Credit.
Annual Return To Report Transactions With Foreign Trusts and Receipt of Certain Foreign
Gifts.
General Business Credit.
Credit For Federal Tax Paid On Fuels.
Recapture of Investment Credit.
Corporation Application for Quick Refund of Overpayment of Estimated Tax.
Depreciation and Amortization (Including Information on Listed Property).
Alternative Minimum Tax—Corporations.
Casualties and Thefts.
Sales of Business Property.
Request for Prompt Assessment Under Internal Revenue Code Section 6501(d).
Election to Be Treated as an Interest Charge DISC.
Corporate Report of Nondividend Distributions.
Information Return of U.S. Persons With Respect To Certain Foreign Corporations.
Accumulated Earnings and Profits (E&P) of Controlled Foreign Corporation.
Transactions Between Controlled Foreign Corporation and Shareholders or Other Related Persons.
Organization or Reorganization of Foreign Corporation, and Acquisitions and Dispositions of its
Stock.
Information Return of a 25% Foreign-Owned U.S. Corporation or a Foreign Corporation Engaged in a U.S. Trade or Business.
Notice Concerning Fiduciary Relationship.
Notice Concerning Fiduciary Relationship—Illinois Type Land Trust.
Notice Concerning Fiduciary Relationship of Financial Institution.
International Boycott Report.
International Boycott Factor (Section 999(c)(1)).
Specifically Attributable Taxes and Income (Section 999(c)(2)).
Tax Effect of the International Boycott Provisions.
American Samoa Economic Development Credit.
Work Opportunity Credit.
New Hire Retention Credit.
At-Risk Limitations.
Alcohol and Cellulosic Biofuel Fuels Credit.
Environmental Taxes.
Credit for Increasing Research Activities.
Gains and Losses From Section 1256 Contracts and Straddles.
Application for Automatic Extension of Time To File Certain Business Income Tax, Information,
and Other Returns.
Elections Under Section 338 for Corporations Making Qualified Stock Purchases.
Direct Deposit Corporate Tax Refund.
Notice of Inconsistent Treatment or Administrative Adjustment Request (AAR).
Disclosure Statement.
Regulation Disclosure Statement.
Noncash Charitable Contributions.
U.S. Withholding Tax Return for Dispositions by Foreign Persons of U.S. Real Property Interests.
Application for Withholding Certificate for Dispositions by Foreign Persons of U.S. Real Property Interests.
Report of Cash Payments Over $10,000 Received In a Trade or Business.
Electronic Deposit of Tax Refund of $1 Million or More.
Report of a Sale or Exchange of Certain Partnership Interests.
Lender’s Information Return for Mortgage Credit Certificates (MCCs).
Interest Charge on DISC-Related Deferred Tax Liability.
U.S. Electing Large Partnership Declaration for an IRS e-file Return.
U.S. Corporation Income Tax Declaration for an IRS e-file Return.
Foreign Corporation Income Tax Declaration for an IRS e-file Return.
U.S. Partnership Declaration for an IRS e-file Return.
U.S. S Corporation Income Tax Declaration for an IRS e-file Return.
Political Organization Declaration for Electronic Filing of Notice of Section 527 Status.
Affiliations Schedule.
Low-Income Housing Credit.
Asset Acquisition Statement Under Section 1060.
Low-Income Housing Credit Allocation and Certification.
Annual Statement for Low-Income Housing Credit.
Recapture of Low-Income Housing Credit.
Return By Shareholder of a Passive Foreign Investment Company or Qualified Electing Fund.
Return by a Shareholder Making Certain Late Elections to End Treatment as a Passive Foreign Investment Company.
Reporting Agent Authorization.
Low-Income Housing Credit Disposition Bond.
Interest Computation Under the Look-Back Method for Completed Long-Term Contracts.
Form
Form
Form
Form
Form
Form
Form
Form
Form
Form
Form
Form
Form
Form
3800 ..........................................................
4136 ..........................................................
4255 ..........................................................
4466 ..........................................................
4562 ..........................................................
4626 ..........................................................
4684 ..........................................................
4797 ..........................................................
4810 ..........................................................
4876A ........................................................
5452 ..........................................................
5471 ..........................................................
5471 (SCH J) ............................................
5471 (SCH M) ...........................................
Form 5471 (SCH O) ...........................................
Form 5472 ..........................................................
Form
Form
Form
Form
Form
Form
Form
Form
Form
Form
Form
Form
Form
Form
Form
Form
56 ..............................................................
56A ............................................................
56F ............................................................
5713 ..........................................................
5713 (SCH A) ............................................
5713 (SCH B) ............................................
5713 (SCH C) ...........................................
5735 ..........................................................
5884 ..........................................................
5884–B ......................................................
6198 ..........................................................
6478 ..........................................................
6627 ..........................................................
6765 ..........................................................
6781 ..........................................................
7004 ..........................................................
Form
Form
Form
Form
Form
Form
Form
8023 ..........................................................
8050 ..........................................................
8082 ..........................................................
8275 ..........................................................
8275R ........................................................
8283 ..........................................................
8288 ..........................................................
Form 8288B ........................................................
Form
Form
Form
Form
Form
Form
Form
Form
Form
Form
Form
Form
Form
Form
Form
Form
Form
Form
Form
8300 ..........................................................
8302 ..........................................................
8308 ..........................................................
8329 ..........................................................
8404 ..........................................................
8453–B ......................................................
8453C ........................................................
8453–I .......................................................
8453–PE ....................................................
8453S ........................................................
8453X ........................................................
851 ............................................................
8586 ..........................................................
8594 ..........................................................
8609 ..........................................................
8609–A ......................................................
8611 ..........................................................
8621 ..........................................................
8621–A ......................................................
Form 8655 ..........................................................
Form 8693 ..........................................................
Form 8697 ..........................................................
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19:14 May 25, 2017
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APPENDIX—Continued
Product
Title
Form
Form
Form
Form
Form
Form
Form
Form
Form
Form
Form
8703 ..........................................................
8716 ..........................................................
8752 ..........................................................
8804 ..........................................................
8804 (SCH A) ............................................
8804–W .....................................................
8805 ..........................................................
8806 ..........................................................
8810 ..........................................................
8813 ..........................................................
8816 ..........................................................
Form
Form
Form
Form
Form
Form
Form
Form
Form
Form
Form
Form
Form
Form
Form
Form
Form
8819 ..........................................................
8820 ..........................................................
8822B ........................................................
8824 ..........................................................
8825 ..........................................................
8826 ..........................................................
8827 ..........................................................
8830 ..........................................................
8832 ..........................................................
8833 ..........................................................
8834 ..........................................................
8835 ..........................................................
8838 ..........................................................
8842 ..........................................................
8844 ..........................................................
8845 ..........................................................
8848 ..........................................................
Form 8846 ..........................................................
Form 8858 ..........................................................
Form 8858 (SCH M) ...........................................
Form
Form
Form
Form
Form
Form
8864
8865
8865
8865
8865
8866
..........................................................
..........................................................
(SCH K–1) ........................................
(SCH O) ...........................................
(SCH P) ............................................
..........................................................
Form
Form
Form
Form
Form
Form
Form
Form
Form
Form
Form
Form
Form
Form
Form
Form
Form
Form
Form
Form
Form
Form
Form
Form
Form
Form
Form
Form
Form
8869 ..........................................................
8871 ..........................................................
8872 ..........................................................
8873 ..........................................................
8874 ..........................................................
8875 ..........................................................
8878–A ......................................................
8879–B ......................................................
8879C ........................................................
8879–I .......................................................
8879–PE ....................................................
8879S ........................................................
8881 ..........................................................
8882 ..........................................................
8883 ..........................................................
8886 ..........................................................
8893 ..........................................................
8894 ..........................................................
8896 ..........................................................
8900 ..........................................................
8902 ..........................................................
8903 ..........................................................
8906 ..........................................................
8907 ..........................................................
8908 ..........................................................
8909 ..........................................................
8910 ..........................................................
8911 ..........................................................
8912 ..........................................................
VerDate Sep<11>2014
19:14 May 25, 2017
Jkt 241001
Annual Certification of a Residential Rental Project.
Election To Have a Tax Year Other Than a Required Tax Year.
Required Payment or Refund Under Section 7519.
Annual Return for Partnership Withholding Tax (Section 1446).
Penalty for Underpayment of Estimated Section 1446 Tax for Partnerships.
Installment Payments of Section 1446 Tax for Partnerships.
Foreign Partner’s Information Statement of Section 1446 Withholding tax.
Information Return for Acquisition of Control or Substantial Change in Capital Structure.
Corporate Passive Activity Loss and Credit Limitations.
Partnership Withholding Tax Payment Voucher (Section 1446).
Special Loss Discount Account and Special Estimated Tax Payments for Insurance Companies.
Dollar Election Under Section 985.
Orphan Drug Credit.
Change of Address—Business.
Like-Kind Exchanges.
Rental Real Estate Income and Expenses of a Partnership or an S Corporation.
Disabled Access Credit.
Credit for Prior Year Minimum Tax-Corporations.
Enhanced Oil Recovery Credit.
Entity Classification Election.
Treaty-Based Return Position Disclosure Under Section 6114 or 7701(b).
Qualified electric Vehicle Credit.
Renewable Electricity, Refined Coal, and Indian Coal Production Credit.
Consent to Extend the Time To Assess Tax Under Section 367-Gain Recognition Agreement.
Election to Use Different Annualization Periods for Corporate Estimated Tax.
Empowerment Zone and Renewal Community Employment Credit.
Indian Employment Credit.
Consent to Extend the Time to Assess the Branch Profits Tax Under Regulations Sections
1.884–2(a) and (c).
Credit for Employer Social Security and Medicare Taxes Paid on Certain Employee Tips.
Transactions Between Foreign Disregarded Entity of a Foreign Tax Owner and the Filer or
Other Related Entities.
Transactions Between Foreign Disregarded Entity of a Foreign Tax Owner and the Filer or
Other Related Entities.
Biodiesel and Renewable Diesel Fuels Credit.
Return of U.S. Persons With Respect to Certain Foreign Partnerships.
Partner’s Share of Income, Credits, Deductions, etc.
Transfer of Property to a Foreign Partnership.
Acquisitions, Dispositions, and Changes of Interests in a Foreign Partnership.
Interest Computation Under the Look-Back Method for Property Depreciated Under the Income
Forecast Method.
Qualified Subchapter S Subsidiary Election.
Political Organization Notice of Section 527 Status.
Political Organization Report of Contributions and Expenditures.
Extraterritorial Income Exclusion.
New Markets Credit.
Taxable REIT Subsidiary Election.
IRS e-file Electronic Funds Withdrawal Authorization for Form 7004.
IRS e-file Signature Authorization for Form 1065–B.
IRS e-file Signature Authorization for Form 1120.
IRS e-file Signature Authorization for Form 1120–F.
IRS e-file Signature Authorization for Form 1065.
IRS e-file Signature Authorization for Form 1120S.
Credit for Small Employer Pension Plan Startup Costs.
Credit for Employer-Provided Childcare Facilities and Services.
Asset Allocation Statement Under Section 338.
Reportable Transaction Disclosure Statement.
Election of Partnership Level Tax Treatment.
Request to Revoke Partnership Level Tax Treatment Election.
Low Sulfur Diesel Fuel Production Credit.
Qualified Railroad Track Maintenance Credit.
Alternative Tax on Qualified Shipping Activities.
Domestic Production Activities Deduction.
Distilled Spirits Credit.
Nonconventional Source Fuel Credit.
Energy Efficient Home Credit.
Energy Efficient Appliance Credit.
Alternative Motor Vehicle Credit.
Alternative Fuel Vehicle Refueling Property Credit.
Credit to Holders of Tax Credit Bonds.
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Federal Register / Vol. 82, No. 101 / Friday, May 26, 2017 / Notices
24453
APPENDIX—Continued
Product
Title
Form 8916 ..........................................................
Reconciliation of Schedule M–3 Taxable Income with Tax Return Taxable Income for Mixed
Groups.
Supplemental Attachment to Schedule M–3.
Material Advisor Disclosure Statement.
Mining Rescue Team Training Credit.
Report of Employer-Owned Life Insurance Contracts.
Disqualified Corporate Interest Expense Disallowed Under Section 163(j) and Related Information.
Determination Under Section 860(e)(4) by a Qualified Investment Entity.
Agricultural Chemicals Security Credit.
Credit for Employer Differential Wage Payments.
Carbon Dioxide Sequestration Credit.
Qualified Plug-In Electric Drive Motor Vehicle Credit.
Report of Organizational Actions Affecting Basis.
Statement of Foreign Financial Assets.
Credit for Small Employer Health Insurance Premiums.
Application for Certification of Qualified Investments Eligible for Credits and Grants Under the
Qualifying Therapeutic Discovery Project.
Report of Branded Prescription Drug Information.
Sales and Other Dispositions of Capital Assets.
Return by a U.S. Transferor of Property to a Foreign Corporation.
Corporate Dissolution or Liquidation.
Application to Use LIFO Inventory Method.
Consent of Shareholder to Include Specific Amount in Gross Income.
Corporation Claim for Deduction for Consent Dividends.
Claim for Deficiency Dividends Deductions by a Personal Holding Company, Regulated Investment Company, or Real Estate Investment Trust.
Reduction of Tax Attributes Due to Discharge of Indebtedness (and Section 1082 Basis Adjustment).
Application for Employer Identification Number.
Forest Activities Schedule.
Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding.
Certificate of Entities Status of Beneficial Owner for United States Tax Withholding (Entities).
Certificate of Foreign Person’s Claim That Income is Effectively Connected With the Conduct
of a Trade or Business in the United States.
Certificate of Foreign Intermediary, Foreign Flow-Through Entity, or Certain U.S. Branches for
United States Tax Withholding.
Form
Form
Form
Form
Form
8916–A ......................................................
8918 ..........................................................
8923 ..........................................................
8925 ..........................................................
8926 ..........................................................
Form
Form
Form
Form
Form
Form
Form
Form
Form
8927
8931
8932
8933
8936
8937
8938
8941
8942
Form
Form
Form
Form
Form
Form
Form
Form
8947 ..........................................................
8949 ..........................................................
926 ............................................................
966 ............................................................
970 ............................................................
972 ............................................................
973 ............................................................
976 ............................................................
..........................................................
..........................................................
..........................................................
..........................................................
..........................................................
..........................................................
..........................................................
..........................................................
..........................................................
Form 982 ............................................................
Form
Form
Form
Form
Form
SS–4 ..........................................................
T (TIMBER) ...............................................
W–8BEN ....................................................
W–8BEN(E) ...............................................
W–8ECI .....................................................
Form W–8IMY .....................................................
Send comments regarding
the burden estimate, or any other aspect
of the information collection, 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.
ADDRESSES:
[FR Doc. 2017–10789 Filed 5–25–17; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Agency Information Collection
Activities; Submission for OMB
Review; Comment Request; Multiple
Tax and Trade Bureau Information
Collection Requests
Departmental Offices, U.S.
Department of the Treasury.
ACTION: Notice.
AGENCY:
FOR FURTHER INFORMATION CONTACT:
The Department of the
Treasury will submit the following
information collection request(s) to the
Office of Management and Budget
(OMB) for review and clearance in
accordance with the Paperwork
Reduction Act of 1995, on or after the
date of publication of this notice. The
public is invited to submit comments on
the collection(s) listed below.
DATES: Comments should be received on
or before June 26, 2017 to be assured of
consideration.
SUMMARY:
VerDate Sep<11>2014
19:14 May 25, 2017
Jkt 241001
Copies of the submissions may be
obtained by emailing PRA@treasury.gov,
calling (202) 622–0489, or viewing the
entire information collection request at
www.reginfo.gov.
SUPPLEMENTARY INFORMATION:
Alcohol and Tobacco Tax and Trade
Bureau (TTB)
1. Title: Tax Information
Authorization.
OMB Control Number: 1513–0001.
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Fmt 4703
Sfmt 4703
Type of Review: Extension without
change of a currently approved
collection.
Abstract: In general, the Internal
Revenue Code at 26 U.S.C. 6103 protects
the privacy of taxpayer information by,
among other things, prohibiting the
disclosure of tax returns and taxpayer
information to unauthorized persons,
but under 26 U.S.C. 6103(c), a taxpayer
may authorize a representative to
receive otherwise confidential tax
information. TTB requires a taxpayer to
file TTB F 5000.19 when the taxpayer
wishes to authorize a representative
who does not have a power of attorney
to obtain otherwise confidential
information regarding the taxpayer. TTB
uses the information provided on this
form to properly identify the taxpayer’s
representative and the scope of his/her
authority to obtain confidential
information.
Form: TTB Form 5000.19.
Affected Public: Businesses or other
for-profits.
Estimated Total Annual Burden
Hours: 50.
2. Title: Referral of Information.
E:\FR\FM\26MYN1.SGM
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]]>Agencies
[Federal Register Volume 82, Number 101 (Friday, May 26, 2017)]
[Notices]
[Pages 24447-24453]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-10789]
=======================================================================
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment Request for Forms 1065, 1065-B,
1066, 1120, 1120-C, 1120-F, 1120-FSC, 1120-H, 1120-L, 1120-ND, 1120-PC,
1120-POL, 1120-S, 1120-SF, 1120-REIT, 1120-RIC, and Related Attachments
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Notice and request for comments.
-----------------------------------------------------------------------
SUMMARY: The Internal Revenue Service, 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 continuing information collections, as required by the
Paperwork Reduction Act of 1995 (PRA). This notice requests comments on
all forms used by business entity taxpayers:
Forms 1065, 1065-B, 1066, 1120, 1120-C, 1120-F, 1120-FSC, 1120-H,
1120-L, 1120-ND, 1120-PC, 1120-POL, 1120-S, 1120-SF, 1120-REIT, 1120-
RIC; and all attachments to these forms (see the Appendix to this
notice). With this notice, the IRS is also announcing significant
changes to (1) the manner in which tax forms used by business taxpayers
will be approved under the PRA and (2) its method of estimating the
paperwork burden imposed on all business taxpayers.
DATES: Written comments should be received on or before July 25, 2017
to be assured of consideration.
ADDRESSES: Direct all written comments to Laurie Brimmer, Internal
Revenue Service, Room 6526, 1111 Constitution Avenue NW., Washington,
DC 20224.
Requests for additional information or copies of the form and
instructions should be directed to Sara Covington, at Internal Revenue
Service, Room 6526, 1111 Constitution Avenue NW., Washington, DC 20224,
or through the internet, at Sara.L.Covington@irs.gov.
SUPPLEMENTARY INFORMATION:
Change in PRA Approval of Forms Used by Business Taxpayers
Under the PRA, OMB assigns a control number to each ``collection of
information'' that it reviews and approves for use by an agency. A
single information collection may consist of one or more forms,
recordkeeping requirements, and/or third-party disclosure requirements.
Under the PRA and OMB regulations, agencies have the discretion to seek
separate OMB approvals for business forms, recordkeeping requirements,
and third-party reporting requirements or to combine any number of
forms, recordkeeping requirements, and/or third-party disclosure
requirements (usually related in subject matter) under one OMB Control
Number. Agency decisions on whether to group individual requirements
under a single OMB Control Number or to disaggregate them and request
separate OMB Control Numbers are based largely on considerations of
administrative practicality.
The PRA also requires agencies to estimate the burden for each
collection of information. Accordingly, each OMB Control Number has an
associated burden estimate. The burden estimates for each control
number are displayed in (1) the PRA notices that accompany collections
of information, (2) Federal Register notices such as this one, and (3)
in OMB's database of approved information collections. If more than one
form, recordkeeping requirement, and/or third-party disclosure
requirement is approved under a single control number, then the burden
estimate for that control number reflects the burden associated with
all of the approved forms, recordkeeping requirements, and/or third-
party disclosure requirements.
As described below under the heading ``New Burden Model,'' the
IRS's new Business Taxpayer Burden Model (BTBM) estimates of taxpayer
burden are based on taxpayer characteristics and activities, taking
into account, among other things, the forms and schedules generally
used by those groups of business taxpayers and the recordkeeping and
other activities needed to complete those forms. The BTBM represents
the second phase of a long-term effort to improve the ability of IRS to
measure the burden imposed on various groups of taxpayers by the
federal tax system. While the new methodology provides a more accurate
and comprehensive description of business taxpayer burden, it will not
provide burden estimates on a form-by-form basis, as has been done
under the previous methodology. When the prior model was developed in
the mid-1980s, almost all tax returns were prepared manually, either by
the taxpayer or a paid provider. In this context, it was determined
that estimating burden on a form-by-form basis was an appropriate
methodology. Today, over 90 percent of all business entity tax returns
are prepared using software or with preparer assistance. In this
environment, in which many taxpayers' activities are no longer as
directly
[[Page 24448]]
associated with particular forms, estimating burden on a form-by-form
basis is not an appropriate measurement of taxpayer burden. The new
model, which takes into account broader and more comprehensive taxpayer
characteristics and activities, provides a much more accurate and
useful estimate of taxpayer burden.
Currently, there are 231 forms used by business taxpayers. These
include Forms 1065, 1065-B, 1066, 1120, 1120-C, 1120-F, 1120-H, 1120-
ND, 1120-S, 1120-SF, 1120-FSC, 1120-L, 1120-PC, 1120-REIT, 1120-RIC,
1120-POL, and their schedules and all the forms business entity
taxpayers attach to their tax returns (see the Appendix to this
notice). For most of these forms, IRS has in the past obtained separate
OMB approvals under unique OMB Control Numbers and separate burden
estimates.
The BTBM estimates the aggregate burden imposed on business
taxpayers, based upon their tax-related characteristics and activities.
IRS therefore will seek OMB approval of all 231 business-related tax
forms as a single ``collection of information.'' The aggregate burden
of these tax forms will be accounted for under OMB Control Number 1545-
0123, which is currently assigned to Form 1120 and its schedules. OMB
Control Number 1545-0123 will be displayed on all business tax forms
and other information collections. As a result of this change, burden
estimates for business taxpayers will now be displayed differently in
PRA Notices on tax forms and other information collections, and in
Federal Register notices. This new way of displaying burden is
presented below under the heading ``Proposed PRA Submission to OMB.''
Because some of the forms used by business taxpayers are also used by
tax-exempt organizations, trusts and estates and other kinds of
taxpayers, there will be a transition period during which IRS will
report different burden estimates for individual taxpayers (OMB Control
Number 1545-0074), business taxpayers (OMB Control Number 1545-0123),
and another OMB Control Number for other taxpayers using the same
forms. For those forms covered under OMB Control Numbers 1545-0074 and/
or 1545-0123 and also used by other taxpayers, IRS will display the OMB
Control Number related to the other filers on the form and provide the
burden estimate for those taxpayers in the form instructions. The form
instructions will refer readers to the burden estimates for individual
and/or business taxpayers, as applicable. The burden estimates for
business taxpayers will be reported and accounted for as described in
this notice. The burden estimates for individual taxpayers will
continue to be reported and accounted for under OMB Control Number
1545-0074 using a method similar to the method described in this
notice. The burden estimates for other users of these forms will be
determined under prior methodology based on form length and complexity.
New Burden Model
Data from the new BTBM revise the estimates of the levels of burden
experienced by business taxpayers when complying with the federal tax
laws. It replaces the earlier burden measurement developed in the mid-
1980s. Since that time, improved technology and modeling sophistication
have enabled the IRS to improve the burden estimates. The new model
provides taxpayers and the IRS with a more comprehensive understanding
of the current levels of taxpayer burden. It reflects major changes
over the past two decades in the way taxpayers prepare and file their
returns. The new BTBM also represents a substantial step forward in the
IRS's ability to assess likely impacts of administrative and
legislative changes on business taxpayers.
The BTBM's approach to measuring burden focuses on the
characteristics and activities of business taxpayers rather than the
forms they use. Key determinants of taxpayer burden in the model are
the type of entity, total assets, total receipts, and activities
reported on the tax return (income, deductions, credits, etc.). In
contrast, the previous estimates primarily focused on the length and
complexity of each tax form. The changes between the old and new burden
estimates are due to the improved ability of the new methodology to
measure burden and the expanded scope of what is measured. These
changes create a one-time shift in the estimate of burden levels that
reflects the better measurement of the new model. The differences in
estimates between the models do not reflect any change in the actual
burden experienced by taxpayers. Comparisons should not be made between
these and the earlier published estimates, because the models measure
burden in different ways.
Methodology
Burden is defined as the time and out-of-pocket costs incurred by
taxpayers to comply with the federal tax system. As has been done for
individual taxpayer burden since 2005, both the time expended and the
out-of-pocket costs for business taxpayers are estimated. The burden
estimation methodology relies on surveys that measure time and out-of-
pocket costs that taxpayers spend on pre-filing and filing activities.
The methodology establishes econometric relationships between tax
return characteristics and reported compliance costs. The methodology
controls for the substitution of time and money by monetizing time and
reporting total compliance costs in dollars. This methodology better
reflects taxpayer compliance burden, because in a world of electronic
tax preparation, time and out-of-pocket costs are governed by the
information required rather than the form on which it is ultimately
reported. Importantly, even where various businesses complete the same
tax form lines, the new methodology differentiates the cost incurred to
complete those forms based on characteristics of those businesses. Key
business characteristics that serve as coefficients in the BTBM are:
Entity type
Total assets
Total receipts
Return complexity
The new model uses the following classifications of business
taxpayers:
Partnerships (Forms 1065, 1065-B, 1066)
Taxable corporations (Forms 1120, 1120-C, 1120-F, 1120-H,
1120-ND, 1120-SF, 1120-FSC, 1120-L, 1120-PC, 1120-POL)
Pass-through corporations (Forms 1120-REIT, 1120-RIC, 1120-S)
Each classification is further refined to separate large and small
businesses, where a large business is generally defined as one having
end of year assets totaling more than $10 million.
Taxpayer Burden Estimates
Tables 1, 2, and 3 below show the burden model estimates for each
of the three classifications of business taxpayers. The data shown are
the best estimates for 2017 business entity income tax returns
available as of January 2017. The estimates are subject to change as
new forms and data become available.
Proposed PRA Submission to OMB
Title: U.S. Business Income Tax Return.
OMB Number: 1545-0123.
Form Numbers: Forms 1065, 1065-B, 1066, 1120, 1120-C, 1120-F, 1120-
H, 1120-ND, 1120-S, 1120-SF, 1120-FSC, 1120-L, 1120-PC, 1120-REIT,
1120-RIC, 1120-POL and all attachments to these forms (see the Appendix
to this notice).
Abstract: These forms are used by businesses to report their income
tax liability. The data is used to verify that
[[Page 24449]]
the items reported on the forms are correct, and also for general
statistics use.
Current Actions: Changes are being made to the forms and the method
of burden computation.
Type of Review: Revision of currently approved collections.
Affected Public: Businesses.
Estimated Number of Respondents: 11,000,000.
Total Estimated Time: 3.040 billion hours.
Estimated Time per Respondent: 276 hours.
Total Estimated Out-of-Pocket Costs: $53.64 billion.
Estimated Out-of-Pocket Cost per FY2017. Respondent: $4,876.
Note: Amounts below are for FY2017. Reported time and cost
burdens are national averages and do not necessarily reflect a
``typical'' case. Most taxpayers experience lower than average
burden, with taxpayer burden varying considerably by taxpayer type.
Detail may not add due to rounding.
Table 1
----------------------------------------------------------------------------------------------------------------
Number of Burden
Primary form filed or type of taxpayer returns -------------------------------
(millions) Average time Average cost
----------------------------------------------------------------------------------------------------------------
All Partnerships................................................ 3.9 290 5,700
Small........................................................... 3.7 270 4,400
Large*.......................................................... 0.2 610 29,000
----------------------------------------------------------------------------------------------------------------
Forms 1065, 1065-B, 1066 and all attachments.
Table 2
----------------------------------------------------------------------------------------------------------------
Number of Burden
Primary form filed or type of taxpayer returns -------------------------------
(millions) Average time Average cost
----------------------------------------------------------------------------------------------------------------
All Taxable Corporations........................................ 2.1 315 6,300
Small........................................................... 2 280 4,000
Large*.......................................................... 0.1 1,250 68,900
----------------------------------------------------------------------------------------------------------------
Forms 1120, 1120-C, 1120-F, 1120-H, 1120-ND, 1120-SF, 1120-FSC, 1120-L, 1120-PC, 1120-POL and all attachments.
Table 3
----------------------------------------------------------------------------------------------------------------
Number of Burden
Primary form filed or type of taxpayer returns -------------------------------
(millions) Average time Average cost
----------------------------------------------------------------------------------------------------------------
All Pass-Through Corporations................................... 4.9 245 3,500
Small........................................................... 4.8 240 3,100
Large* *........................................................ 0.1 610 30,800
----------------------------------------------------------------------------------------------------------------
Forms 1120-REIT, 1120-RIC, 1120-S and all attachments
* A large business is defined as one having end of year assets greater than $10 million.
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 will
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.
Dated: May 18, 2017.
Laurie Brimmer,
Senior Tax Analyst.
Appendix
------------------------------------------------------------------------
Product Title
------------------------------------------------------------------------
Form 1000.................... Ownership Certificate.
Form 1042.................... Annual Withholding Tax Return for U.S.
Source Income of Foreign Persons.
Form 1065.................... U.S. Return of Partnership Income.
Form 1065 (SCH B-1).......... Information for Partners Owning 50% or
More of the Partnership.
Form 1065 (SCH C)............ Additional Information for Schedule M-3
Filers.
Form 1065 (SCH D)............ Capital Gains and Losses.
Form 1065 (SCH K-1).......... Partner's Share of Income, Deductions,
Credits, etc.
[[Page 24450]]
Form 1065 (SCH M-3).......... Net Income (Loss) Reconciliation for
Certain Partnerships.
Form 1065B................... U.S. Return of Income for Electing Large
Partnerships.
Form 1065B (SCH K-1)......... Partner's Share of Income (Loss) From an
Electing Large Partnership.
Form 1065X................... Amended Return or Administrative
Adjustment Request (AAR).
Form 1066.................... U.S. Real Estate Mortgage Investment
Conduit (REMIC) Income Tax Return.
Form 1066 (SCH Q)............ Quarterly Notice to Residual Interest
Holder of REMIC Taxable Income or Net
Loss Allocation.
Form 1118.................... Foreign Tax Credit-Corporations.
Form 1118 (SCH I)............ Reduction of Foreign Oil and Gas Taxes.
Form 1118 (SCH J)............ Adjustments to Separate Limitation Income
(Loss) Categories for Determining
Numerators of Limitation Fractions, Year-
End Recharacterization Balances, and
Overall Foreign and Domestic Loss
Account Balances.
Form 1118 (SCH K)............ Foreign Tax Carryover Reconciliation
Schedule.
Form 1120.................... U.S. Corporation Income Tax Return.
Form 1120 (SCH B)............ Additional Information for Schedule M-3
Filers.
Form 1120 (SCH D)............ Capital Gains and Losses.
Form 1120 (SCH G)............ Information on Certain Persons Owning the
Corporation's Voting Stock.
Form 1120 (SCH H)............ Section 280H Limitations for a Personal
Service Corporation (PSC).
Form 1120 (SCH M-3).......... Net Income (Loss) Reconciliation for
Corporations With Total Assets of $10
Million of More.
Form 1120 (SCH N)............ Foreign Operations of U.S. Corporations.
Form 1120 (SCH O)............ Consent Plan and Apportionment Schedule
for a Controlled Group.
Form 1120 (SCH PH)........... U.S. Personal Holding Company (PHC) Tax.
Form 1120 (SCH UTP).......... Uncertain Tax Position Statement.
Form 1120-C.................. U.S. Income Tax Return for Cooperative
Associations.
Form 1120F................... U.S. Income Tax Return of a Foreign
Corporation.
Form 1120-F (SCH H).......... Deductions Allocated to Effectively
Connected Income Under Regulations
Section 1.861-8.
Form 1120-F (SCH I).......... Interest Expense Allocation Under
Regulations Section 1.882-5.
Form 1120-F (SCH M1 & M2).... Reconciliation of Income (Loss) and
Analysis of Unappropriated Retained
Earnings per Books.
Form 1120-F (SCH M-3)........ Net Income (Loss) Reconciliation for
Foreign Corporations With Reportable
Assets of $10 Million or More.
Form 1120-F (SCH P).......... List of Foreign Partner Interests in
Partnerships.
Form 1120F(SCH S)............ Exclusion of Income From the
International Operation of Ships or
Aircraft Under Section 883.
Form 1120F(SCH V)............ List of Vessels or Aircraft, Operators,
and Owners.
Form 1120FSC................. U.S. Income Tax Return of a Foreign Sales
Corporation.
Form 1120FSC (SCH P)......... Transfer Price or Commission.
Form 1120H................... U.S. Income Tax Return for Homeowners
Associations.
Form 1120ICD (SCH K)......... Shareholder's Statement of IC-DISC
Distributions.
Form 1120ICD (SCH P)......... Intercompany Transfer Price or
Commission.
Form 1120IC-DISC............. Interest Charge Domestic International
Sales Corporation Return.
Form 1120-IC-DISC (SCH Q).... Borrower's Certificate of Compliance With
the Rules for Producer's Loans.
Form 1120L................... U.S. Life Insurance Company Income Tax
Return.
Form 1120-L (SCH M-3)........ Net Income (Loss) Reconciliation for U.S.
Life Insurance Companies With Total
Assets of $10 Million or More.
Form 1120ND.................. Return for Nuclear Decommissioning Funds
and Certain Related Persons.
Form 1120PC.................. U.S. Property and Casualty Insurance
Company Income Tax Return.
Form 1120-PC (SCH M-3)....... Net Income (Loss) Reconciliation for U.S.
Property and Casualty Insurance
Companies With Total Assets of $10
Million or More.
Form 1120POL................. U.S. Income Tax Return for Certain
Political Organizations.
Form 1120REIT................ U.S. Income Tax Return for Real Estate
Investment Trusts.
Form 1120RIC................. U.S. Income Tax Return for Regulated
Investment Companies.
Form 1120S................... U.S. Income Tax Return for an S
Corporation.
Form 1120S (SCH B-1)......... Information on Certain Shareholders of an
S Corporation.
Form 1120S (SCH D)........... Capital Gains and Losses and Built-In
Gains.
Form 1120S (SCH K-1)......... Shareholder's Share of Income,
Deductions, Credits, etc.
Form 1120S (SCH M-3)......... Net Income (Loss) Reconciliation for S
Corporations With Total Assets of $10
Million or More.
Form 1120SF.................. U.S. Income Tax Return for Settlement
Funds (Under Section 468B).
Form 1120W................... Estimated Tax for Corporations.
Form 1120X................... Amended U.S. Corporation Income Tax
Return.
Form 1122.................... Authorization and Consent of Subsidiary
Corporation to be Included in a
Consolidated Income Tax Return.
Form 1125-A.................. Cost of Goods Sold.
Form 1125-E.................. Compensation of Officers.
Form 1127.................... Application for Extension of Time for
Payment of Tax.
Form 1128.................... Application to Adopt, Change, or Retain a
Tax Year.
Form 1138.................... Extension of Time For Payment of Taxes By
a Corporation Expecting a Net Operating
Loss Carryback.
Form 1139.................... Corporation Application for Tentative
Refund.
.........................................
Form 2220.................... Underpayment of Estimated Tax By
Corporations.
Form 2438.................... Undistributed Capital Gains Tax Return.
Form 2553.................... Election by a Small Business Corporation.
Form 2848.................... Power of Attorney and Declaration of
Representative.
Form 3115.................... Application for Change in Accounting
Method.
[[Page 24451]]
Form 3468.................... Investment Credit.
Form 3520.................... Annual Return To Report Transactions With
Foreign Trusts and Receipt of Certain
Foreign Gifts.
Form 3800.................... General Business Credit.
Form 4136.................... Credit For Federal Tax Paid On Fuels.
Form 4255.................... Recapture of Investment Credit.
Form 4466.................... Corporation Application for Quick Refund
of Overpayment of Estimated Tax.
Form 4562.................... Depreciation and Amortization (Including
Information on Listed Property).
Form 4626.................... Alternative Minimum Tax--Corporations.
Form 4684.................... Casualties and Thefts.
Form 4797.................... Sales of Business Property.
Form 4810.................... Request for Prompt Assessment Under
Internal Revenue Code Section 6501(d).
Form 4876A................... Election to Be Treated as an Interest
Charge DISC.
Form 5452.................... Corporate Report of Nondividend
Distributions.
Form 5471.................... Information Return of U.S. Persons With
Respect To Certain Foreign Corporations.
Form 5471 (SCH J)............ Accumulated Earnings and Profits (E&P) of
Controlled Foreign Corporation.
Form 5471 (SCH M)............ Transactions Between Controlled Foreign
Corporation and Shareholders or Other
Related Persons.
Form 5471 (SCH O)............ Organization or Reorganization of Foreign
Corporation, and Acquisitions and
Dispositions of its Stock.
Form 5472.................... Information Return of a 25% Foreign-Owned
U.S. Corporation or a Foreign
Corporation Engaged in a U.S. Trade or
Business.
Form 56...................... Notice Concerning Fiduciary Relationship.
Form 56A..................... Notice Concerning Fiduciary Relationship--
Illinois Type Land Trust.
Form 56F..................... Notice Concerning Fiduciary Relationship
of Financial Institution.
Form 5713.................... International Boycott Report.
Form 5713 (SCH A)............ International Boycott Factor (Section
999(c)(1)).
Form 5713 (SCH B)............ Specifically Attributable Taxes and
Income (Section 999(c)(2)).
Form 5713 (SCH C)............ Tax Effect of the International Boycott
Provisions.
Form 5735.................... American Samoa Economic Development
Credit.
Form 5884.................... Work Opportunity Credit.
Form 5884-B.................. New Hire Retention Credit.
Form 6198.................... At-Risk Limitations.
Form 6478.................... Alcohol and Cellulosic Biofuel Fuels
Credit.
Form 6627.................... Environmental Taxes.
Form 6765.................... Credit for Increasing Research
Activities.
Form 6781.................... Gains and Losses From Section 1256
Contracts and Straddles.
Form 7004.................... Application for Automatic Extension of
Time To File Certain Business Income
Tax, Information, and Other Returns.
Form 8023.................... Elections Under Section 338 for
Corporations Making Qualified Stock
Purchases.
Form 8050.................... Direct Deposit Corporate Tax Refund.
Form 8082.................... Notice of Inconsistent Treatment or
Administrative Adjustment Request (AAR).
Form 8275.................... Disclosure Statement.
Form 8275R................... Regulation Disclosure Statement.
Form 8283.................... Noncash Charitable Contributions.
Form 8288.................... U.S. Withholding Tax Return for
Dispositions by Foreign Persons of U.S.
Real Property Interests.
Form 8288B................... Application for Withholding Certificate
for Dispositions by Foreign Persons of
U.S. Real Property Interests.
Form 8300.................... Report of Cash Payments Over $10,000
Received In a Trade or Business.
Form 8302.................... Electronic Deposit of Tax Refund of $1
Million or More.
Form 8308.................... Report of a Sale or Exchange of Certain
Partnership Interests.
Form 8329.................... Lender's Information Return for Mortgage
Credit Certificates (MCCs).
Form 8404.................... Interest Charge on DISC-Related Deferred
Tax Liability.
Form 8453-B.................. U.S. Electing Large Partnership
Declaration for an IRS e-file Return.
Form 8453C................... U.S. Corporation Income Tax Declaration
for an IRS e-file Return.
Form 8453-I.................. Foreign Corporation Income Tax
Declaration for an IRS e-file Return.
Form 8453-PE................. U.S. Partnership Declaration for an IRS e-
file Return.
Form 8453S................... U.S. S Corporation Income Tax Declaration
for an IRS e-file Return.
Form 8453X................... Political Organization Declaration for
Electronic Filing of Notice of Section
527 Status.
Form 851..................... Affiliations Schedule.
Form 8586.................... Low-Income Housing Credit.
Form 8594.................... Asset Acquisition Statement Under Section
1060.
Form 8609.................... Low-Income Housing Credit Allocation and
Certification.
Form 8609-A.................. Annual Statement for Low-Income Housing
Credit.
Form 8611.................... Recapture of Low-Income Housing Credit.
Form 8621.................... Return By Shareholder of a Passive
Foreign Investment Company or Qualified
Electing Fund.
Form 8621-A.................. Return by a Shareholder Making Certain
Late Elections to End Treatment as a
Passive Foreign Investment Company.
Form 8655.................... Reporting Agent Authorization.
Form 8693.................... Low-Income Housing Credit Disposition
Bond.
Form 8697.................... Interest Computation Under the Look-Back
Method for Completed Long-Term
Contracts.
[[Page 24452]]
Form 8703.................... Annual Certification of a Residential
Rental Project.
Form 8716.................... Election To Have a Tax Year Other Than a
Required Tax Year.
Form 8752.................... Required Payment or Refund Under Section
7519.
Form 8804.................... Annual Return for Partnership Withholding
Tax (Section 1446).
Form 8804 (SCH A)............ Penalty for Underpayment of Estimated
Section 1446 Tax for Partnerships.
Form 8804-W.................. Installment Payments of Section 1446 Tax
for Partnerships.
Form 8805.................... Foreign Partner's Information Statement
of Section 1446 Withholding tax.
Form 8806.................... Information Return for Acquisition of
Control or Substantial Change in Capital
Structure.
Form 8810.................... Corporate Passive Activity Loss and
Credit Limitations.
Form 8813.................... Partnership Withholding Tax Payment
Voucher (Section 1446).
Form 8816.................... Special Loss Discount Account and Special
Estimated Tax Payments for Insurance
Companies.
Form 8819.................... Dollar Election Under Section 985.
Form 8820.................... Orphan Drug Credit.
Form 8822B................... Change of Address--Business.
Form 8824.................... Like-Kind Exchanges.
Form 8825.................... Rental Real Estate Income and Expenses of
a Partnership or an S Corporation.
Form 8826.................... Disabled Access Credit.
Form 8827.................... Credit for Prior Year Minimum Tax-
Corporations.
Form 8830.................... Enhanced Oil Recovery Credit.
Form 8832.................... Entity Classification Election.
Form 8833.................... Treaty-Based Return Position Disclosure
Under Section 6114 or 7701(b).
Form 8834.................... Qualified electric Vehicle Credit.
Form 8835.................... Renewable Electricity, Refined Coal, and
Indian Coal Production Credit.
Form 8838.................... Consent to Extend the Time To Assess Tax
Under Section 367-Gain Recognition
Agreement.
Form 8842.................... Election to Use Different Annualization
Periods for Corporate Estimated Tax.
Form 8844.................... Empowerment Zone and Renewal Community
Employment Credit.
Form 8845.................... Indian Employment Credit.
Form 8848.................... Consent to Extend the Time to Assess the
Branch Profits Tax Under Regulations
Sections 1.884-2(a) and (c).
Form 8846.................... Credit for Employer Social Security and
Medicare Taxes Paid on Certain Employee
Tips.
Form 8858.................... Transactions Between Foreign Disregarded
Entity of a Foreign Tax Owner and the
Filer or Other Related Entities.
Form 8858 (SCH M)............ Transactions Between Foreign Disregarded
Entity of a Foreign Tax Owner and the
Filer or Other Related Entities.
Form 8864.................... Biodiesel and Renewable Diesel Fuels
Credit.
Form 8865.................... Return of U.S. Persons With Respect to
Certain Foreign Partnerships.
Form 8865 (SCH K-1).......... Partner's Share of Income, Credits,
Deductions, etc.
Form 8865 (SCH O)............ Transfer of Property to a Foreign
Partnership.
Form 8865 (SCH P)............ Acquisitions, Dispositions, and Changes
of Interests in a Foreign Partnership.
Form 8866.................... Interest Computation Under the Look-Back
Method for Property Depreciated Under
the Income Forecast Method.
Form 8869.................... Qualified Subchapter S Subsidiary
Election.
Form 8871.................... Political Organization Notice of Section
527 Status.
Form 8872.................... Political Organization Report of
Contributions and Expenditures.
Form 8873.................... Extraterritorial Income Exclusion.
Form 8874.................... New Markets Credit.
Form 8875.................... Taxable REIT Subsidiary Election.
Form 8878-A.................. IRS e-file Electronic Funds Withdrawal
Authorization for Form 7004.
Form 8879-B.................. IRS e-file Signature Authorization for
Form 1065-B.
Form 8879C................... IRS e-file Signature Authorization for
Form 1120.
Form 8879-I.................. IRS e-file Signature Authorization for
Form 1120-F.
Form 8879-PE................. IRS e-file Signature Authorization for
Form 1065.
Form 8879S................... IRS e-file Signature Authorization for
Form 1120S.
Form 8881.................... Credit for Small Employer Pension Plan
Startup Costs.
Form 8882.................... Credit for Employer-Provided Childcare
Facilities and Services.
Form 8883.................... Asset Allocation Statement Under Section
338.
Form 8886.................... Reportable Transaction Disclosure
Statement.
Form 8893.................... Election of Partnership Level Tax
Treatment.
Form 8894.................... Request to Revoke Partnership Level Tax
Treatment Election.
Form 8896.................... Low Sulfur Diesel Fuel Production Credit.
Form 8900.................... Qualified Railroad Track Maintenance
Credit.
Form 8902.................... Alternative Tax on Qualified Shipping
Activities.
Form 8903.................... Domestic Production Activities Deduction.
Form 8906.................... Distilled Spirits Credit.
Form 8907.................... Nonconventional Source Fuel Credit.
Form 8908.................... Energy Efficient Home Credit.
Form 8909.................... Energy Efficient Appliance Credit.
Form 8910.................... Alternative Motor Vehicle Credit.
Form 8911.................... Alternative Fuel Vehicle Refueling
Property Credit.
Form 8912.................... Credit to Holders of Tax Credit Bonds.
[[Page 24453]]
Form 8916.................... Reconciliation of Schedule M-3 Taxable
Income with Tax Return Taxable Income
for Mixed Groups.
Form 8916-A.................. Supplemental Attachment to Schedule M-3.
Form 8918.................... Material Advisor Disclosure Statement.
Form 8923.................... Mining Rescue Team Training Credit.
Form 8925.................... Report of Employer-Owned Life Insurance
Contracts.
Form 8926.................... Disqualified Corporate Interest Expense
Disallowed Under Section 163(j) and
Related Information.
Form 8927.................... Determination Under Section 860(e)(4) by
a Qualified Investment Entity.
Form 8931.................... Agricultural Chemicals Security Credit.
Form 8932.................... Credit for Employer Differential Wage
Payments.
Form 8933.................... Carbon Dioxide Sequestration Credit.
Form 8936.................... Qualified Plug-In Electric Drive Motor
Vehicle Credit.
Form 8937.................... Report of Organizational Actions
Affecting Basis.
Form 8938.................... Statement of Foreign Financial Assets.
Form 8941.................... Credit for Small Employer Health
Insurance Premiums.
Form 8942.................... Application for Certification of
Qualified Investments Eligible for
Credits and Grants Under the Qualifying
Therapeutic Discovery Project.
Form 8947.................... Report of Branded Prescription Drug
Information.
Form 8949.................... Sales and Other Dispositions of Capital
Assets.
Form 926..................... Return by a U.S. Transferor of Property
to a Foreign Corporation.
Form 966..................... Corporate Dissolution or Liquidation.
Form 970..................... Application to Use LIFO Inventory Method.
Form 972..................... Consent of Shareholder to Include
Specific Amount in Gross Income.
Form 973..................... Corporation Claim for Deduction for
Consent Dividends.
Form 976..................... Claim for Deficiency Dividends Deductions
by a Personal Holding Company, Regulated
Investment Company, or Real Estate
Investment Trust.
Form 982..................... Reduction of Tax Attributes Due to
Discharge of Indebtedness (and Section
1082 Basis Adjustment).
Form SS-4.................... Application for Employer Identification
Number.
Form T (TIMBER).............. Forest Activities Schedule.
Form W-8BEN.................. Certificate of Foreign Status of
Beneficial Owner for United States Tax
Withholding.
Form W-8BEN(E)............... Certificate of Entities Status of
Beneficial Owner for United States Tax
Withholding (Entities).
Form W-8ECI.................. Certificate of Foreign Person's Claim
That Income is Effectively Connected
With the Conduct of a Trade or Business
in the United States.
Form W-8IMY.................. Certificate of Foreign Intermediary,
Foreign Flow-Through Entity, or Certain
U.S. Branches for United States Tax
Withholding.
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[FR Doc. 2017-10789 Filed 5-25-17; 8:45 am]
BILLING CODE 4830-01-P
