Proposed Collection; Comment Request on Information Collection for Form 8886, Reportable Transaction Disclosure Statement; Form 14234, Pre-CAP and CAP Application Form, 53530 [2018-23108]
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53530
Federal Register / Vol. 83, No. 205 / Tuesday, October 23, 2018 / Notices
Authority: The Paperwork Reduction Act
of 1995, 44 U.S.C. Chapter 35; and delegation
of authority at 49 CFR 1.95 and 501.8.
Raymond R. Posten,
Associate Administrator for Rulemaking.
[FR Doc. 2018–23046 Filed 10–22–18; 8:45 am]
BILLING CODE 4910–59–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment
Request on Information Collection for
Form 8886, Reportable Transaction
Disclosure Statement; Form 14234,
Pre-CAP and CAP Application Form
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.
Currently, the IRS is soliciting
comments concerning Form 8886,
Reportable Transaction Disclosure
Statement; Form 14234, Pre-CAP and
CAP Application Form.
SUMMARY:
Written comments should be
received on or before December 24, 2018
to be assured of consideration.
ADDRESSES: Direct all written comments
to Laurie Brimmer, Internal Revenue
Service, room 6529, 1111 Constitution
Avenue NW, Washington, DC 20224.
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.
FOR FURTHER INFORMATION CONTACT:
Requests for additional information or
copies of the collection tools should be
directed to Alissa Berry, at (901) 707–
4988, at Internal Revenue Service, Room
6529, 1111 Constitution Avenue NW,
Washington, DC 20224, or through the
internet at Alissa.A.Berry@irs.gov.
SUPPLEMENTARY INFORMATION: Currently,
the IRS is seeking comments concerning
the following information collection
tools, reporting, and record-keeping
requirements:
Title: Reportable Transaction
Disclosure Statement; Pre-CAP and CAP
Application Form.
OMB Number: 1545–1800.
Form Numbers: Form 8886 and Form
14234.
Abstract: Form 8886: Regulations
section 1.6011–4 provides that certain
taxpayers must disclose their direct or
indirect participation in reportable
transactions when they file their Federal
DATES:
Number of
responses
khammond on DSK30JT082PROD with NOTICES
Form
income tax return. Pre-CAP and CAP
Application Form (Form 14234): The
Compliance Assurance Process (CAP) is
a strictly voluntary program available to
Large Business and International (LB&I)
Division taxpayers that meet the
selection criteria. CAP is a real-time
review of completed business
transactions during the CAP year with
the goal of providing certainty of the tax
return within 90 days of the filing.
Taxpayers in CAP are required to be
cooperative and transparent and report
all material issues and items related to
completed business transactions to the
review team.
Current Actions: There are no changes
to the information collection.
Type of Review: Extension without
change of a currently approved
collection.
Affected Public: Business or other forprofit organizations.
Taxpayer Burden:
Form 8886:
Estimated Number of Respondents:
42,409.
Estimated Time per Respondent: 21
hours 33 minutes.
Estimated Total Annual Burden
Hours: 913,490.
Form 14234:
Estimated Number of Respondents:
169.
Estimated Time per Response: 12
hours 40 minutes.
Estimated Total Annual Burden
Hours: 2,141.
Hours per response
Total hours
Form 8886 ....................................................................
Form 14234 ..................................................................
42,409
169
21 Hours 33 minutes ....................................................
12 Hours 40 minutes ....................................................
913,490
2,141
Totals .....................................................................
42,578
.......................................................................................
915,631
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
VerDate Sep<11>2014
20:20 Oct 22, 2018
Jkt 247001
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.
PO 00000
Frm 00089
Fmt 4703
Sfmt 4703
Approved: October 18, 2018.
Laurie Brimmer,
Senior Tax Analyst.
[FR Doc. 2018–23108 Filed 10–22–18; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment
Request on Information Collection for
Revenue Procedure 2015–13
(Previously Revenue Procedure 97–27)
Internal Revenue Service (IRS),
Treasury.
AGENCY:
Notice and request for
comments.
ACTION:
E:\FR\FM\23OCN1.SGM
23OCN1
]]>Agencies
[Federal Register Volume 83, Number 205 (Tuesday, October 23, 2018)]
[Notices]
[Page 53530]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-23108]
=======================================================================
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment Request on Information Collection
for Form 8886, Reportable Transaction Disclosure Statement; Form 14234,
Pre-CAP and CAP Application Form
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/or continuing information collections, as required by the
Paperwork Reduction Act of 1995. Currently, the IRS is soliciting
comments concerning Form 8886, Reportable Transaction Disclosure
Statement; Form 14234, Pre-CAP and CAP Application Form.
DATES: Written comments should be received on or before December 24,
2018 to be assured of consideration.
ADDRESSES: Direct all written comments to Laurie Brimmer, Internal
Revenue Service, room 6529, 1111 Constitution Avenue NW, Washington, DC
20224. 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.
FOR FURTHER INFORMATION CONTACT: Requests for additional information or
copies of the collection tools should be directed to Alissa Berry, at
(901) 707-4988, at Internal Revenue Service, Room 6529, 1111
Constitution Avenue NW, Washington, DC 20224, or through the internet
at [email protected].
SUPPLEMENTARY INFORMATION: Currently, the IRS is seeking comments
concerning the following information collection tools, reporting, and
record-keeping requirements:
Title: Reportable Transaction Disclosure Statement; Pre-CAP and CAP
Application Form.
OMB Number: 1545-1800.
Form Numbers: Form 8886 and Form 14234.
Abstract: Form 8886: Regulations section 1.6011-4 provides that
certain taxpayers must disclose their direct or indirect participation
in reportable transactions when they file their Federal income tax
return. Pre-CAP and CAP Application Form (Form 14234): The Compliance
Assurance Process (CAP) is a strictly voluntary program available to
Large Business and International (LB&I) Division taxpayers that meet
the selection criteria. CAP is a real-time review of completed business
transactions during the CAP year with the goal of providing certainty
of the tax return within 90 days of the filing. Taxpayers in CAP are
required to be cooperative and transparent and report all material
issues and items related to completed business transactions to the
review team.
Current Actions: There are no changes to the information
collection.
Type of Review: Extension without change of a currently approved
collection.
Affected Public: Business or other for-profit organizations.
Taxpayer Burden:
Form 8886:
Estimated Number of Respondents: 42,409.
Estimated Time per Respondent: 21 hours 33 minutes.
Estimated Total Annual Burden Hours: 913,490.
Form 14234:
Estimated Number of Respondents: 169.
Estimated Time per Response: 12 hours 40 minutes.
Estimated Total Annual Burden Hours: 2,141.
----------------------------------------------------------------------------------------------------------------
Number of
Form responses Hours per response Total hours
----------------------------------------------------------------------------------------------------------------
Form 8886..................................... 42,409 21 Hours 33 minutes............. 913,490
Form 14234.................................... 169 12 Hours 40 minutes............. 2,141
-----------------------------------------------------------------
Totals.................................... 42,578 ................................ 915,631
----------------------------------------------------------------------------------------------------------------
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: October 18, 2018.
Laurie Brimmer,
Senior Tax Analyst.
[FR Doc. 2018-23108 Filed 10-22-18; 8:45 am]
BILLING CODE 4830-01-P
