Proposed Collection; Comment Request for Form 8838-P, 40229-40230 [2017-17896]

Download as PDF Federal Register / Vol. 82, No. 163 / Thursday, August 24, 2017 / Notices rmajette on DSKBCKNHB2PROD with NOTICES SUPPLEMENTARY INFORMATION: Title: Application for Recognition of Exemption Under Section 501(c)(4) of the Internal Revenue Code. OMB Number: 1545–XXXX. Form Number: Form 1024–A. Abstract: Organizations seeking exemption from Federal income tax under Internal Revenue Code section 501(c)(4) as an organization described in most paragraphs of section 501(c) must use Form 1024–A to apply for exemption. The information collected is used to determine whether the organization qualifies for tax-exempt status. Current Actions: New collection. Type of Review: New collection. Affected Public: Not-for-profit institutions. Estimated Number of Respondents: 2,500. Estimated Time per Respondent: 19 hours, 37 minutes. Estimated Total Annual Burden Hours: 48,425. 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. VerDate Sep<11>2014 15:29 Aug 23, 2017 Jkt 241001 40229 Approved: August 17, 2017. L. Brimmer, Senior Tax Analyst. DEPARTMENT OF THE TREASURY [FR Doc. 2017–17897 Filed 8–23–17; 8:45 am] Proposed Collection; Comment Request for Form 8838–P Internal Revenue Service BILLING CODE 4830–01–P Internal Revenue Service (IRS), Treasury. ACTION: Notice of Information collection; request for comments. AGENCY: DEPARTMENT OF THE TREASURY Internal Revenue Service Art Advisory Panel—Notice of Closed Meeting Internal Revenue Service, Treasury. AGENCY: Notice of closed meeting of Art Advisory Panel. ACTION: Closed meeting of the Art Advisory Panel will be held in Washington, DC. SUMMARY: The meeting will be held September 14, 2017. DATES: The closed meeting of the Art Advisory Panel will be held at 999 North Capitol Street NE., Washington, DC 20003. ADDRESSES: FOR FURTHER INFORMATION CONTACT: Michelle A. Levitte, AP:SEPR:AAS, 290 Broadway, 11th Floor, New York, NY 10007 (212) 298–2222 (not a toll free number). Notice is hereby given pursuant to section 10(a)(2) of the Federal Advisory Committee Act, 5 U.S.C. App., that a closed meeting of the Art Advisory Panel will be held at 999 North Capitol Street NE., Washington, DC 20003. The agenda will consist of the review and evaluation of the acceptability of fair market value appraisals of works of art involved in Federal income, estate, or gift tax returns. This will involve the discussion of material in individual tax returns made confidential by the provisions of 26 U.S.C. 6103. A determination as required by section 10(d) of the Federal Advisory Committee Act has been made that this meeting is concerned with matters listed in sections 552b(c)(3), (4), (6), and (7), of the Government in the Sunshine Act, and that the meeting will not be open to the public. SUPPLEMENTARY INFORMATION: Donna Hansberry, Chief, Appeals. [FR Doc. 2017–17899 Filed 8–23–17; 8:45 am] BILLING CODE 4830–01–P PO 00000 Frm 00100 Fmt 4703 Sfmt 4703 The Internal Revenue Service (IRS), in accordance with the Paperwork Reduction Act of 1995 (PRA 95), provides the general public and Federal agencies with an opportunity to comment on continuing collections of information. This helps the IRS assess the impact of its information collection requirements and minimize the reporting burden on the public and helps the public understand the IRS’s information collection requirements and provide the requested data in the desired format. The IRS is soliciting comments concerning the Form 8838–P, Consent To Extend the Time To Assess Tax Pursuant to the Gain Deferral Method Under Section 721(c). DATES: Written comments should be received on or before October 23, 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 regulation should be directed to Taquesha Cain, Room 6526, 1111 Constitution Avenue NW., Washington, DC 20224, or through the internet at Taquesha.R.Cain@irs.gov. SUPPLEMENTARY INFORMATION: Title: Consent To Extend the Time To Assess Tax Pursuant to the Gain Deferral Method (Section 721(c)). OMB Number: 1545–1668. Form Number: 8838–P. Abstract: Form 8838–P is used to extend the statute of limitations for U.S. persons who transfers appreciated property to partnerships with foreign partners related to the transferor. The form is filed when the transferor makes a gain recognition agreement. This agreement allows the transferor to defer the payment of tax on the transfer. The IRS uses Form 8838–P so that it may assess tax against the transferor after the expiration of the original statute of limitations. Current Actions: This is a new form added to the collection and the burden will increase from what has been previously approved by OMB. Type of Review: Revision of a currently approved collection. SUMMARY: E:\FR\FM\24AUN1.SGM 24AUN1 40230 Federal Register / Vol. 82, No. 163 / Thursday, August 24, 2017 / Notices Affected Public: Individuals or households, business or other for-profit organizations. Estimated Number of Respondents: 1,000. Estimated Time per Respondent: 7 hour, 3 minutes. Estimated Total Annual Burden Hours: 7,050. 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: August 17, 2017. L. Brimmer, Senior Tax Analyst. [FR Doc. 2017–17896 Filed 8–23–17; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY rmajette on DSKBCKNHB2PROD with NOTICES Internal Revenue Service Proposed Collection; Comment Request for Revenue Procedure 2017– 41 (Modifying Rev. Proc. 2015–36) Master and Prototype and Volume Submitter Plans (Previously Rev. Proc. 2011–49 & 2005–16) Internal Revenue Service (IRS), Treasury. AGENCY: VerDate Sep<11>2014 15:29 Aug 23, 2017 Jkt 241001 Notice of information collection; request for comments. ACTION: The Internal Revenue Service (IRS), in accordance with the Paperwork Reduction Act of 1995 (PRA 95), provides the general public and Federal agencies with an opportunity to comment on continuing collections of information. This helps the IRS assess the impact of its information collection requirements and minimize the reporting burden on the public and helps the public understand the IRS’s information collection requirements and provide the requested data in the desired format. The IRS is soliciting comments concerning the restructure of the current revenue procedure approach for issuing Opinion Letters regarding the qualification in form of Pre-approved Plans. SUMMARY: Written comments should be received on or before October 23, 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 regulation should be directed to Taquesha Cain, Room 6526, 1111 Constitution Avenue NW., Washington, DC 20224, or through the internet at Taquesha.R.Cain@irs.gov. SUPPLEMENTARY INFORMATION: Title: Master and Prototype and Volume Submitter Plans. OMB Number: 1545–1674. Revenue Procedure Number: Revenue Procedure 2017–41 (modifying Rev. Proc. 2015–36) (previously Rev. Proc. 2011–49 & 2005–16). Abstract: This revenue procedure modifies Rev. Proc. 2015–36 and sets forth the procedures for the merger of the master and prototype (M&P) program with the volume submitter (VS) plan. This revenue procedure requires employers adopting pre-approved plans to complete and sign new signature pages or new adoption agreements, as applicable, in order to restate their plans for recent changes in the law. This revenue procedure require sponsors of pre-approved plans to furnish copies of their plans to the Service’s Employee Plans Determinations office, maintain records of employers that have adopted their plans, prepare and communicate any necessary interim amendments to adopting employers, make reasonable and diligent efforts to ensure that employers restate their plans when necessary, and notify employers if the sponsor concludes that employers’ plans are no longer qualified. provides that mass submitters must keep records DATES: PO 00000 Frm 00101 Fmt 4703 Sfmt 9990 of their user fees. This allows mass submitters to certify to the number of other practitioners seeking approval of the identical pre-approved plan. In addition mass submitters must prepare and communicate any necessary interim amendments to the word for word identical adopters. Current Actions: There is no change in the paperwork burden previously approved by OMB. Type of Review: Extension of a currently approved collection. Affected Public: Individuals or households, business or other for-profit organizations, not-for-profit institutions, farms, and state, local, or tribal governments. Estimated Number of Respondents: 321,500. Estimated Time per Respondent: 3 hour, 27 minutes. Estimated Total Annual Burden Hours: 1,108,225. 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: August 9, 2017. L. Brimmer, Senior Tax Analyst. [FR Doc. 2017–17898 Filed 8–23–17; 8:45 am] BILLING CODE 4830–01–P E:\FR\FM\24AUN1.SGM 24AUN1

Agencies

[Federal Register Volume 82, Number 163 (Thursday, August 24, 2017)]
[Notices]
[Pages 40229-40230]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-17896]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Form 8838-P

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice of Information collection; request for comments.

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SUMMARY: The Internal Revenue Service (IRS), in accordance with the 
Paperwork Reduction Act of 1995 (PRA 95), provides the general public 
and Federal agencies with an opportunity to comment on continuing 
collections of information. This helps the IRS assess the impact of its 
information collection requirements and minimize the reporting burden 
on the public and helps the public understand the IRS's information 
collection requirements and provide the requested data in the desired 
format. The IRS is soliciting comments concerning the Form 8838-P, 
Consent To Extend the Time To Assess Tax Pursuant to the Gain Deferral 
Method Under Section 721(c).

DATES: Written comments should be received on or before October 23, 
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 regulation 
should be directed to Taquesha Cain, Room 6526, 1111 Constitution 
Avenue NW., Washington, DC 20224, or through the internet at 
Taquesha.R.Cain@irs.gov.

SUPPLEMENTARY INFORMATION: 
    Title: Consent To Extend the Time To Assess Tax Pursuant to the 
Gain Deferral Method (Section 721(c)).
    OMB Number: 1545-1668.
    Form Number: 8838-P.
    Abstract: Form 8838-P is used to extend the statute of limitations 
for U.S. persons who transfers appreciated property to partnerships 
with foreign partners related to the transferor. The form is filed when 
the transferor makes a gain recognition agreement. This agreement 
allows the transferor to defer the payment of tax on the transfer. The 
IRS uses Form 8838-P so that it may assess tax against the transferor 
after the expiration of the original statute of limitations.
    Current Actions: This is a new form added to the collection and the 
burden will increase from what has been previously approved by OMB.
    Type of Review: Revision of a currently approved collection.

[[Page 40230]]

    Affected Public: Individuals or households, business or other for-
profit organizations.
    Estimated Number of Respondents: 1,000.
    Estimated Time per Respondent: 7 hour, 3 minutes.
    Estimated Total Annual Burden Hours: 7,050.
    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: August 17, 2017.
L. Brimmer,
Senior Tax Analyst.
[FR Doc. 2017-17896 Filed 8-23-17; 8:45 am]
BILLING CODE 4830-01-P