Proposed Extension of Information Collection Request Submitted for Public Comment; Comment Request for Form 8918, 62674-62675 [2018-26256]

Download as PDF 62674 Federal Register / Vol. 83, No. 233 / Tuesday, December 4, 2018 / Notices Act of 1995. Currently, the IRS is soliciting comments concerning the disclosure of returns and return information to a designee of a taxpayer. DATES: Written comments should be received on or before February 4, 2019 to be assured of consideration. ADDRESSES: Direct all written comments to Carolyn Brown, Internal Revenue Service, Room 6236, 1111 Constitution Avenue NW, Washington, DC 20224. Requests for additional information or copies of the regulations should be directed to R. Joseph Durbala, at Internal Revenue Service, Room 6129, 1111 Constitution Avenue NW, Washington DC 20224, or through the internet, at RJoseph.Durbala@irs.gov. SUPPLEMENTARY INFORMATION: Title: Disclosure of Returns and Return Information to Designee of Taxpayer. OMB Number: 1545–1816. Regulation Project Number: TD 9054, as amended by TD 9618. Abstract: Under section 6103(a), returns and return information are confidential unless disclosure is otherwise authorized by the Code. Section 6103(c), as amended in 1996 by section 1207 of the Taxpayer Bill of Rights II, Public Law 104–168 (110 Stat. 1452), authorizes the IRS to disclose returns and return information to such person or persons as the taxpayer may designate in a request for or consent to disclosure, or to any other person at the taxpayer’s request to the extent necessary to comply with a request for information or assistance made by the taxpayer to such other person. Disclosure is permitted subject to such requirements and conditions as may be prescribed by regulations. With the amendment in 1996, Congress eliminated the longstanding requirement that disclosures to designees of the taxpayer must be pursuant to the written request or consent of the taxpayer. Current Actions: There is no change to the burden previously approved. Type of Review: Extension of a currently approved collection. Affected Public: Individuals or households, business or other not-forprofit institutions, farms, and Federal, state, local or tribal governments. Estimated Number of Respondents: 4,000. Estimated Time per Respondent: 12 min. Estimated Total Annual Burden Hours: 800. The following paragraph applies to all the collections of information covered by this notice: An agency may not conduct or sponsor, and a person is not required to VerDate Sep<11>2014 17:36 Dec 03, 2018 Jkt 247001 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 if 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. Desired Focus of Comments: The Internal Revenue Service (IRS) is particularly interested in comments that: • Evaluate whether the proposed collection of information is necessary for the proper performance of the functions of the agency, including whether the information will have practical utility; • Evaluate the accuracy of the agency’s estimate of the burden of the proposed collection of information, including the validity of the methodology and assumptions used; • Enhance the quality, utility, and clarity of the information to be collected; and • Minimize the burden of the collection of information on those who are to respond, including using appropriate automated, electronic, mechanical, or other technological collection techniques or other forms of information technology, e.g., by permitting electronic submissions of responses. Comments submitted in response to this notice will be summarized and/or included in the ICR for OMB approval of the extension of the information collection; they will also become a matter of public record. Approved: November 27, 2018. R. Joseph Durbala, IRS Tax Analyst. [FR Doc. 2018–26259 Filed 12–3–18; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Extension of Information Collection Request Submitted for Public Comment; Comment Request for Form 8918 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 public and other Federal SUMMARY: PO 00000 Frm 00115 Fmt 4703 Sfmt 4703 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 the disclosure of reportable transactions. DATES: Written comments should be received on or before February 4, 2019 to be assured of consideration. ADDRESSES: Direct all written comments to Carolyn Brown, Internal Revenue Service, Room 6236, 1111 Constitution Avenue NW, Washington, DC 20224. Requests for additional information or copies of the regulations should be directed to R. Joseph Durbala, at Internal Revenue Service, Room 6129, 1111 Constitution Avenue NW, Washington DC 20224, or through the internet, at RJoseph.Durbala@irs.gov. SUPPLEMENTARY INFORMATION: Title: Disclosure of reportable transactions. OMB Number: 1545–0865. Form Number: 8918. Abstract: Internal Revenue Code (IRC) 6111 requires a sub-set of promoters called ‘‘material advisors’’ to disclose information about the promotion of certain types of transactions called ‘‘reportable transactions.’’ Material advisors to any reportable transaction must disclose certain information about the reportable transaction by filing a Form 8918 with the IRS. Material advisors who file a Form 8918 will receive a reportable transaction number from the IRS. Material advisors must provide the reportable transaction number to all taxpayers and material advisors for whom the material advisor acts as a material advisor. Current Actions: There is no change to the burden previously approved. Type of Review: Extension of a currently approved collection. Affected Public: Business or other forprofit organizations. Estimated Number of Respondents: 350. Estimated Time Per Respondent: 14 hrs., 33 min. Estimated Total Annual Burden Hours: 5,096. The following paragraph applies to all 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 if their contents may become material in the administration of any internal revenue law. Generally, tax E:\FR\FM\04DEN1.SGM 04DEN1 Federal Register / Vol. 83, No. 233 / Tuesday, December 4, 2018 / Notices returns and tax return information are confidential, as required by 26 U.S.C. 6103. Desired Focus of Comments: The Internal Revenue Service (IRS) is particularly interested in comments that: • Evaluate whether the proposed collection of information is necessary for the proper performance of the functions of the agency, including whether the information will have practical utility; • Evaluate the accuracy of the agency’s estimate of the burden of the VerDate Sep<11>2014 19:26 Dec 03, 2018 Jkt 247001 proposed collection of information, including the validity of the methodology and assumptions used; • Enhance the quality, utility, and clarity of the information to be collected; and • Minimize the burden of the collection of information on those who are to respond, including using appropriate automated, electronic, mechanical, or other technological collection techniques or other forms of information technology, e.g., by PO 00000 Frm 00116 Fmt 4703 Sfmt 9990 62675 permitting electronic submissions of responses. Comments submitted in response to this notice will be summarized and/or included in the ICR for OMB approval of the extension of the information collection; they will also become a matter of public record. Approved: November 27, 2018. R. Joseph Durbala, IRS Tax Analyst. [FR Doc. 2018–26256 Filed 12–3–18; 8:45 am] BILLING CODE 4830–01–P E:\FR\FM\04DEN1.SGM 04DEN1

Agencies

[Federal Register Volume 83, Number 233 (Tuesday, December 4, 2018)]
[Notices]
[Pages 62674-62675]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-26256]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Extension of Information Collection Request Submitted 
for Public Comment; Comment Request for Form 8918

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 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 the disclosure of reportable transactions.

DATES: Written comments should be received on or before February 4, 
2019 to be assured of consideration.

ADDRESSES: Direct all written comments to Carolyn Brown, Internal 
Revenue Service, Room 6236, 1111 Constitution Avenue NW, Washington, DC 
20224. Requests for additional information or copies of the regulations 
should be directed to R. Joseph Durbala, at Internal Revenue Service, 
Room 6129, 1111 Constitution Avenue NW, Washington DC 20224, or through 
the internet, at [email protected].

SUPPLEMENTARY INFORMATION: 
    Title: Disclosure of reportable transactions.
    OMB Number: 1545-0865.
    Form Number: 8918.
    Abstract: Internal Revenue Code (IRC) 6111 requires a sub-set of 
promoters called ``material advisors'' to disclose information about 
the promotion of certain types of transactions called ``reportable 
transactions.'' Material advisors to any reportable transaction must 
disclose certain information about the reportable transaction by filing 
a Form 8918 with the IRS. Material advisors who file a Form 8918 will 
receive a reportable transaction number from the IRS. Material advisors 
must provide the reportable transaction number to all taxpayers and 
material advisors for whom the material advisor acts as a material 
advisor.
    Current Actions: There is no change to the burden previously 
approved.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents: 350.
    Estimated Time Per Respondent: 14 hrs., 33 min.
    Estimated Total Annual Burden Hours: 5,096.
    The following paragraph applies to all 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 if their contents may become material in the administration of 
any internal revenue law. Generally, tax

[[Page 62675]]

returns and tax return information are confidential, as required by 26 
U.S.C. 6103.
    Desired Focus of Comments: The Internal Revenue Service (IRS) is 
particularly interested in comments that:
     Evaluate whether the proposed collection of information is 
necessary for the proper performance of the functions of the agency, 
including whether the information will have practical utility;
     Evaluate the accuracy of the agency's estimate of the 
burden of the proposed collection of information, including the 
validity of the methodology and assumptions used;
     Enhance the quality, utility, and clarity of the 
information to be collected; and
     Minimize the burden of the collection of information on 
those who are to respond, including using appropriate automated, 
electronic, mechanical, or other technological collection techniques or 
other forms of information technology, e.g., by permitting electronic 
submissions of responses.

    Comments submitted in response to this notice will be summarized 
and/or included in the ICR for OMB approval of the extension of the 
information collection; they will also become a matter of public 
record.

    Approved: November 27, 2018.
R. Joseph Durbala,
IRS Tax Analyst.
[FR Doc. 2018-26256 Filed 12-3-18; 8:45 am]
 BILLING CODE 4830-01-P