Proposed Collection; Comment Request for Regulation Project, 26746 [2018-12406]

Download as PDF 26746 Federal Register / Vol. 83, No. 111 / Friday, June 8, 2018 / Notices DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Regulation Project 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/or continuing information collections, as required by the Paperwork Reduction Act of 1995. The IRS is soliciting comments concerning Guidance regarding Charitable Remainder Trusts and Special Valuation Rules for Transfers of Interests and Trusts. DATES: Written comments should be received on or before August 7, 2018 to be assured of consideration. ADDRESSES: Direct all written comments to Roberto Mora-Figueroa, Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC 20224. FOR FURTHER INFORMATION CONTACT: Requests for additional information or copies of this regulation should be directed to Sara Covington, Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC 20224, or at (202)317–6038 or through the internet at Sara.L.Covington@irs.gov. SUPPLEMENTARY INFORMATION: Title: Guidance Regarding Charitable Remainder Trusts and Special Valuation Rules for Transfers of Interests and Trusts. OMB Number: 1545–1536. Regulation Project Number: TD 8791. Abstract: This regulation provides guidance relating to charitable remainder trusts and to special valuation rules for transfers of interests in trusts. Section 1.664–1(a)(7) of the regulation provides that either an independent trustee or qualified appraiser using a qualified appraisal must value a charitable remainder trust’s assets that do not have an objective, ascertainable value. Current Actions: There is no change to this existing regulation. Type of Review: Extension of a currently approved collection. Affected Public: Businesses or other for-profit organizations. Estimated Number of Respondents: 150. amozie on DSK3GDR082PROD with NOTICES1 SUMMARY: VerDate Sep<11>2014 16:53 Jun 07, 2018 Jkt 241001 Estimated Time per Respondent: 30 minutes. Estimated Total Annual Burden Hours: 75. 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: June 4, 2018. Laurie Brimmer, Senior Tax Analyst. [FR Doc. 2018–12406 Filed 6–7–18; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Form 1127 Internal Revenue Service (IRS), Treasury. ACTION: Notice and request for comments. AGENCY: The Internal Revenue Service (IRS), 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 information collections, as required by the SUMMARY: PO 00000 Frm 00106 Fmt 4703 Sfmt 4703 Paperwork Reduction Act of 1995. The IRS is soliciting comments concerning Application for Extension of Time for Payment of Tax Due to Undue Hardship. DATES: Written comments should be received on or before August 7, 2018 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. FOR FURTHER INFORMATION CONTACT: Requests for additional information or copies of the form and instructions should be directed to Martha R. Brinson, at (202) 317–5753, or at 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: Application for Extension of Time for Payment of Tax Due to Undue Hardship. OMB Number: 1545–2131. Form Number: 1127. Abstract: Under IRC 6161, individual taxpayers and business taxpayers are allowed to request an extension of time for payment of tax shown or required to be shown on a return or for a tax due on a notice of deficiency. In order to be granted this extension, they must file Form 1127, providing evidence of undue hardship, inability to borrow, and collateral to ensure payment of the tax. Current Actions: There are no changes being made to Form 1127 at this time. Type of Review: Extension of a currently approved collection. Affected Public: Individuals and Households, Businesses and other forprofit organizations. Estimated Number of Responses: 1,000. Estimated Time per Response: 7 hours, 29 minutes. Estimated Total Annual Burden Hours: 7,470. 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 E:\FR\FM\08JNN1.SGM 08JNN1

Agencies

[Federal Register Volume 83, Number 111 (Friday, June 8, 2018)]
[Notices]
[Page 26746]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-12406]



[[Page 26746]]

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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed 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 
proposed and/or continuing information collections, as required by the 
Paperwork Reduction Act of 1995. The IRS is soliciting comments 
concerning Guidance regarding Charitable Remainder Trusts and Special 
Valuation Rules for Transfers of Interests and Trusts.

DATES: Written comments should be received on or before August 7, 2018 
to be assured of consideration.

ADDRESSES: Direct all written comments to Roberto Mora-Figueroa, 
Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW, 
Washington, DC 20224.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of this regulation should be directed to Sara Covington, 
Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW, 
Washington, DC 20224, or at (202)317-6038 or through the internet at 
[email protected].

SUPPLEMENTARY INFORMATION: 
    Title: Guidance Regarding Charitable Remainder Trusts and Special 
Valuation Rules for Transfers of Interests and Trusts.
    OMB Number: 1545-1536.
    Regulation Project Number: TD 8791.
    Abstract: This regulation provides guidance relating to charitable 
remainder trusts and to special valuation rules for transfers of 
interests in trusts. Section 1.664-1(a)(7) of the regulation provides 
that either an independent trustee or qualified appraiser using a 
qualified appraisal must value a charitable remainder trust's assets 
that do not have an objective, ascertainable value.
    Current Actions: There is no change to this existing regulation.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Businesses or other for-profit organizations.
    Estimated Number of Respondents: 150.
    Estimated Time per Respondent: 30 minutes.
    Estimated Total Annual Burden Hours: 75.
    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: June 4, 2018.
Laurie Brimmer,
Senior Tax Analyst.
[FR Doc. 2018-12406 Filed 6-7-18; 8:45 am]
BILLING CODE 4830-01-P