Proposed Collection; Comment Request for Form 1099-A, 35579-35580 [2017-16009]

Download as PDF 35579 Federal Register / Vol. 82, No. 145 / Monday, July 31, 2017 / Notices United States Tax Withholding and Reporting, and the EW–8 MOU Program. DATES: Written comments should be received on or before September 29, 2017 to be assured of consideration. ADDRESSES: Direct all written comments to L. 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 Martha R. Brinson, Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW., Washington, DC 20224 or through the Internet at Martha.R.Brinson@irs.gov. SUPPLEMENTARY INFORMATION: Title: Form W–8BEN, Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding and Reporting (Individual), W–8BEN–E, Certificate of Status of Beneficial Owner for United States Tax Withholding and Reporting (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–8EXP, Certificate of Foreign Government or Other Foreign Organization for United States Tax Withholding and Reporting, Form W–8IMY, Certificate of Foreign Intermediary, Foreign Flow-Through Entity, or Certain U.S. Branches for United States Tax Withholding and Reporting. OMB Number: 1545–1621. Form Number: W–8BEN, W–8BEN–E, W–8ECI, W–8EXP, and W–8IMY. Abstract: Form W–8BEN is used for certain types of income to establish that the person is a foreign person, is the beneficial owner of the income for which Form W–8BEN is being provided and, if applicable, to claim a reduced rate of, or exemption from, withholding as a resident of a foreign country with which the United States has an income tax treaty. Form W–8ECI is used to establish that the person is a foreign person and the beneficial owner of the income for which Form W–8ECI is being provided, and to claim that the income is effectively connected with the conduct of a trade or business within the United States. Form W–8EXP is used by a foreign government, international organization, foreign central bank of issue, foreign tax-exempt organization, or foreign private foundation. The form is used by such persons to establish foreign status, to claim that the person is the beneficial owner of the income for which Form W–8EXP is given and, if applicable, to claim a reduced rate of, or exemption from, withholding. Form W– 8IMY is provided to a withholding agent or payer by a foreign intermediary, foreign partnership, and certain U.S. branches to make representations regarding the status of beneficial owners or to transmit appropriate documentation to the withholding agent. Reg. § 1.1441–1(e)(4)(iv) provides that a withholding agent may establish a system for a beneficial owner to electronically furnish a Form W–8 or an acceptable substitute Form W–8. Withholding agents with systems that electronically collect Forms W–8 may voluntarily choose to participate in the IRS EW–8 MOU Program. The EW–8 MOU Program is a collaborative process between the withholding agents and IRS. Current Actions: There are no changes being made to the form at this time. Type of Review: Extension of a currently approved collection. Affected Public: Individuals, business or other for-profit organizations, and not-for-profit institutions. Number respondents Total annual burden hours W–8BEN ............................................................................................................................. W–8BEN–E ........................................................................................................................ W–8ECI .............................................................................................................................. W–8EXP ............................................................................................................................. W–8IMY .............................................................................................................................. 2,900,000 100,000 180,000 240 400 7.18 25.23 9.13 20.05 25.23 20,822,000 2,523,000 1,643,400 4,812 10,092 Total ...................................................................................................................................... sradovich on DSKBCFCHB2PROD with NOTICES Form Form Form Form Form Time per respondent (hrs.) 3,180,641 ........................ 25,003,304 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 VerDate Sep<11>2014 17:38 Jul 28, 2017 Jkt 241001 agency, including whether the information shall have practical utility; (b) the accuracy of the agency’s estimate of the burden of the collection of information; (c) ways to enhance the quality, utility, and clarity of the information to be collected; (d) ways to minimize the burden of the collection of information on respondents, including through the use of automated collection techniques or other forms of information technology; and (e) estimates of capital or start-up costs and costs of operation, maintenance, and purchase of services to provide information. Approved: July 19, 2017. L. Brimmer, Senior Tax Analyst. [FR Doc. 2017–16010 Filed 7–28–17; 8:45 am] BILLING CODE 4830–01–P PO 00000 Frm 00073 Fmt 4703 Sfmt 4703 DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Form 1099–A Internal Revenue Service (IRS), Treasury. AGENCY: Notice and request for comments. ACTION: 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/or continuing information collections, as required by the Paperwork Reduction Act of 1995. The IRS is soliciting comments concerning Form 1099–A, Acquisition or Abandonment of Secured Property. SUMMARY: E:\FR\FM\31JYN1.SGM 31JYN1 35580 Federal Register / Vol. 82, No. 145 / Monday, July 31, 2017 / Notices Written comments should be received on or before September 29, 2017 to be assured of consideration. ADDRESSES: Direct all written comments to L. Brimmer, Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW., Washington, DC 20224. Requests for additional information or copies of the forms and instructions should be directed to Sara Covington, Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW., Washington, DC 20224, or through the internet at Sara.L.Covington@irs.gov. SUPPLEMENTARY INFORMATION: Title: Acquisition or Abandonment of Secured Property. OMB Number: 1545– 0877. Form Number: 1099–A. Abstract: Form 1099–A is used by persons who lend money in connection with a trade or business, and who acquire an interest in the property that is security for the loan or who have reason to know that the property has been abandoned, to report the acquisition or abandonment. Current Actions: There are no changes being made to the form approved under this collection. However, changes to the estimated number of filers (616,300 to 563,000), will result in a total burden decrease of 8528 (98608 minus 90808). Type of Review: Revision of a current OMB approval. Affected Public: Businesses or other for-profit organizations. Estimated Number of Responses: 563,000. Estimated Time per Response: 9 min. Estimated Total Annual Burden Hours: 90,808. 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; sradovich on DSKBCFCHB2PROD with NOTICES DATES: VerDate Sep<11>2014 17:38 Jul 28, 2017 Jkt 241001 (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. These regulations apply to corporations filing consolidated returns, both during and after the period of affiliation, and also affect purchasers of the stock of members of a consolidated group. The information with respect to § 1.337(d)– 2(c)(1) and (3) is necessary to ensure that loss is not disallowed under § 1.337(d)–2(a) and basis is not reduced under § 1.337(d)–2(b) to the extent the taxpayer establishes that the loss or basis is not attributable to the recognition of built-in gain on the disposition of an asset. The information Approved: July 24, 2017. with respect to § 1.1502–32(b)(4)(vii)(C) L. Brimmer, is necessary to allow the taxpayer to Senior Tax Analyst. amend an election that would benefit [FR Doc. 2017–16009 Filed 7–28–17; 8:45 am] the taxpayer, i.e., to amend its waiver BILLING CODE P under § 1.1502–32(b)(4), so that it may use its acquired subsidiary’s losses. Current Actions: There is no change to DEPARTMENT OF THE TREASURY this existing regulation. Type of Review: Extension of a Internal Revenue Service currently approved collection. Affected Public: Business or other forProposed Collection; Comment profit. Request for Regulation Project Estimated Number of Respondents: 3,850. AGENCY: Internal Revenue Service (IRS), Estimated Time Per Respondent: 2 Treasury. hours. ACTION: Notice and request for Estimated Total Annual Burden comments. Hours: 7,700. The following paragraph applies to all SUMMARY: The Internal Revenue Service, of the collections of information covered as part of its continuing effort to reduce by this notice. paperwork and respondent burden, An agency may not conduct or invites the general public and other sponsor, and a person is not required to Federal agencies to take this respond to, a collection of information opportunity to comment on continuing unless the collection of information information collections, as required by displays a valid OMB control number. the Paperwork Reduction Act of 1995. Books or records relating to a collection The IRS is soliciting comments of information must be retained as long concerning extensions of time to elect as their contents may become material method for determining allowable loss. in the administration of any internal DATES: Written comments should be revenue law. Generally, tax returns and received on or before September 29, tax return information are confidential, 2017 to be assured of consideration. as required by 26 U.S.C. 6103. ADDRESSES: Direct all written comments REQUEST FOR COMMENTS: Comments to L. Brimmer, Internal Revenue submitted in response to this notice will Service, Room 6529, 1111 Constitution be summarized and/or included in the Avenue NW., Washington, DC 20224. request for OMB approval. All Requests for additional information or comments will become a matter of copies of the regulations should be public record. Comments are invited on: directed to Kerry Dennis, Internal (a) Whether the collection of Revenue Service, Room 6529, 1111 information is necessary for the proper Constitution Avenue NW., Washington performance of the functions of the DC 20224, or through the internet, at agency, including whether the Kerry.Dennis@irs.gov. information shall have practical utility; (b) the accuracy of the agency’s estimate SUPPLEMENTARY INFORMATION: of the burden of the collection of Title: Extensions of Time to Elect information; (c) ways to enhance the Method for Determining Allowable quality, utility, and clarity of the Loss. information to be collected; (d) ways to OMB Number: 1545–1774. Regulation Project Number: T.D. 9187. minimize the burden of the collection of information on respondents, including Abstract: Regulations under sections 337(d) and 1502 of the Internal Revenue through the use of automated collection techniques or other forms of information Code (Code) disallow certain losses technology; and (e) estimates of capital recognized on sales of subsidiary stock or start-up costs and costs of operation, by members of a consolidated group. PO 00000 Frm 00074 Fmt 4703 Sfmt 4703 E:\FR\FM\31JYN1.SGM 31JYN1

Agencies

[Federal Register Volume 82, Number 145 (Monday, July 31, 2017)]
[Notices]
[Pages 35579-35580]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-16009]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Form 1099-A

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

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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/or continuing information collections, as required by the 
Paperwork Reduction Act of 1995. The IRS is soliciting comments 
concerning Form 1099-A, Acquisition or Abandonment of Secured Property.

[[Page 35580]]


DATES: Written comments should be received on or before September 29, 
2017 to be assured of consideration.

ADDRESSES: Direct all written comments to L. Brimmer, Internal Revenue 
Service, Room 6526, 1111 Constitution Avenue NW., Washington, DC 20224. 
Requests for additional information or copies of the forms and 
instructions should be directed to Sara Covington, Internal Revenue 
Service, Room 6526, 1111 Constitution Avenue NW., Washington, DC 20224, 
or through the internet at Sara.L.Covington@irs.gov.

SUPPLEMENTARY INFORMATION: 
    Title: Acquisition or Abandonment of Secured Property. OMB Number: 
1545-0877.
    Form Number: 1099-A.
    Abstract: Form 1099-A is used by persons who lend money in 
connection with a trade or business, and who acquire an interest in the 
property that is security for the loan or who have reason to know that 
the property has been abandoned, to report the acquisition or 
abandonment.
    Current Actions: There are no changes being made to the form 
approved under this collection. However, changes to the estimated 
number of filers (616,300 to 563,000), will result in a total burden 
decrease of 8528 (98608 minus 90808).
    Type of Review: Revision of a current OMB approval.
    Affected Public: Businesses or other for-profit organizations.
    Estimated Number of Responses: 563,000.
    Estimated Time per Response: 9 min.
    Estimated Total Annual Burden Hours: 90,808.
    The following paragraph applies to all of the collections of 
information covered by this notice:
    An agency may not conduct or sponsor, and a person is not required 
to respond to, a collection of information unless the collection of 
information displays a valid OMB control number. Books or records 
relating to a collection of information must be retained as long as 
their contents may become material in the administration of any 
internal revenue law. Generally, tax returns and tax return information 
are confidential, as required by 26 U.S.C. 6103.
    Request for Comments: Comments submitted in response to this notice 
will be summarized and/or included in the request for OMB approval. All 
comments will become a matter of public record. Comments are invited 
on: (a) Whether the collection of information is necessary for the 
proper performance of the functions of the agency, including whether 
the information shall have practical utility; (b) the accuracy of the 
agency's estimate of the burden of the collection of information; (c) 
ways to enhance the quality, utility, and clarity of the information to 
be collected; (d) ways to minimize the burden of the collection of 
information on respondents, including through the use of automated 
collection techniques or other forms of information technology; and (e) 
estimates of capital or start-up costs and costs of operation, 
maintenance, and purchase of services to provide information.

    Approved: July 24, 2017.
L. Brimmer,
Senior Tax Analyst.
[FR Doc. 2017-16009 Filed 7-28-17; 8:45 am]
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