Proposed Information Collection; Comment Request for Regulation Project, 58693 [2017-26876]

Agencies

• Internal Revenue Service
• DEPARTMENT OF THE TREASURY

[Federal Register Volume 82, Number 238 (Wednesday, December 13, 2017)]
[Notices]
[Page 58693]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-26876]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Information Collection; Comment Request for Regulation 
Project

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 
continuing information collections, as required by the Paperwork 
Reduction Act of 1995. IRS is soliciting comments concerning Rulings 
and determination letters.

DATES: Written comments should be received on or before February 12, 
2018 to be assured of consideration.

ADDRESSES: Direct all written comments to T. Pinkston, Internal Revenue 
Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC 20224.

FOR FURTHER INFORMATION CONTACT: Please send separate comments for each 
specific information collection listed below. You must reference the 
information collection's title, form number, reporting or record-
keeping requirement number, and OMB number (if any) in your comment. 
Requests for additional information, or copies of the information 
collection and instructions, or copies of any comments received, 
contact Elaine Christophe, at (202) 317-5745, at Internal Revenue 
Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC 20224, 
or through the internet, at [email protected].

SUPPLEMENTARY INFORMATION: 
    Title: Revenue Procedure 2017-52; 2017-1; 2017-3, Rulings and 
determination letters--26 CFR 601-.201.
    OMB Number: 1545-1522.
    Form Number: Revenue Procedure 2017-52; 2017-1; 2017-3.
    Abstract: Revenue Procedure 2017-1 and 2017-3 explain how the 
Service provides advice to taxpayers on issues under the jurisdiction 
of the Associate Chief Counsel (Corporate), the Associate Chief Counsel 
(Financial Institutions and Products), the Associate Chief Counsel 
(Income Tax and Accounting), the Associate Chief Counsel 
(International), the Associate Chief Counsel (Passthroughs and Special 
Industries), the Associate Chief Counsel (Procedure and 
Administration), and the Associate Chief Counsel (Tax Exempt and 
Government Entities). It explains the forms of advice and the manner in 
which advice is requested by taxpayers and provided by the Service. 
Rev. Proc. 2017-52 (1) introduces a pilot program expanding the scope 
of letter rulings available from the Internal Revenue Service (Service) 
to include rulings on the tax consequences of a distribution of stock 
and securities of a controlled corporation under Sec.  355 for a 
specified period of time (see section 6 of this revenue procedure), (2) 
provides procedures for taxpayers requesting these rulings, and (3) 
clarifies procedures for taxpayers requesting rulings on significant 
issues relating to these transactions.
    Current Actions: This information collection is being updated with 
2017-52, 2017-1 and 2017-3. The paperwork burden previously approved by 
OMB is also being updated.
    Type of Review: Review of a currently approved collection.
    Affected Public: Businesses and other for profits.
    Estimated Number of Respondents: 3,986.
    Estimated Time per Respondent: 81.89 hours.
    Estimated Total Annual Burden Hours: 326,436.
    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 our request for Office of 
Management and Budget (OMB) approval of the relevant information 
collection. All comments will become a matter of public record. Please 
do not include any confidential or inappropriate material in your 
comments.
    We invite comments on: (a) Whether the collection of information is 
necessary for the proper performance of the agency's functions, 
including whether the information has 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 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 the 
requested information.

    Approved: December 6, 2017.
T. Pinkston,
Senior Tax Analyst.
[FR Doc. 2017-26876 Filed 12-12-17; 8:45 am]
 BILLING CODE 4830-01-P