Proposed Collection; Comment Request for TD 9452, 25335-25336 [2019-11379]
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khammond on DSKBBV9HB2PROD with NOTICES
Federal Register / Vol. 84, No. 105 / Friday, May 31, 2019 / Notices
Mortgages and Mortgage Interest
Statement.
OMB Number: 1545–1380.
Form Number: Form 1098.
Regulation Project Number: TD 8571.
Abstract: The regulation requires the
reporting of certain information relating
to payments of mortgage interest. The
form is used to report $600 or more of
mortgage interest received from an
individual in the course of the
mortgagor’s trade or business. Taxpayers
must separately state on the form the
amount of points and the amount of
interest (other than points) received
during the taxable year on a single
mortgage and must provide to the payer
of the points a separate statement setting
forth the information being reported to
the IRS. Current Actions: There are no
changes to the form or existing
regulation, however the agency has
updated the number of respondent
estimates based on current data.
Type of Review: Revision of a
currently approved collection.
Affected Public: Business or other forprofit organizations.
Estimated Number of Respondents:
80,650,960.
Estimated Time per Respondent: .23
hours.
Estimated Total Annual Burden
Hours: 20,131,656.
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
VerDate Sep<11>2014
16:42 May 30, 2019
Jkt 247001
technology; and (e) estimates of capital
or start-up costs and costs of operation,
maintenance, and purchase of services
to provide information.
Approved: May 28, 2019.
Laurie Brimmer,
Senior Tax Analyst.
[FR Doc. 2019–11377 Filed 5–30–19; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment
Request for TD 9452
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 information
collections, as required by the
Paperwork Reduction Act of 1995. The
IRS is soliciting comments concerning
final regulation TD 9452, Application of
Separate Limitations to Dividends from
Noncontrolled Section 902
Corporations.
SUMMARY:
Written comments should be
received on or before July 30, 2019 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 regulation should be
directed to Sara Covington, (202) 317–
6038, at Internal Revenue Service, Room
6526, 1111 Constitution Avenue NW,
Washington, DC 20224, or through the
internet at sara.l.covington@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Application of Separate
Limitations to Dividends from
Noncontrolled Section 902
Corporations.
OMB Number: 1545–2014.
Regulation Project Number: TD 9452.
Abstract: The regulations require a
collection of information in order for a
taxpayer to make certain tax elections.
The American Jobs Creation Act of 2004
amended the foreign tax credit
treatment of dividends from
noncontrolled section 902 corporations
effective for post-2002 tax years, and the
Gulf Opportunity Zone Act of 2005
permitted taxpayers to elect to defer the
DATES:
PO 00000
Frm 00105
Fmt 4703
Sfmt 4703
25335
effective date of these amendments until
post-2004 tax years (GOZA election).
Treas. Reg. § 1.904–7(f)(9)(ii)(C) requires
a taxpayer making the GOZA election to
attach a statement to such effect to its
next tax return for which the due date
(with extensions) is more than 90 days
after April 25, 2006. Treas. Reg. § 1.964–
1(c)(3) requires certain shareholders
making tax elections (section 964
elections) on behalf of a controlled
foreign corporation or noncontrolled
section 902 corporation to sign a jointly
executed consent (that is retained by
one designated shareholder) and to
attach a statement to their tax returns for
the election year.
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 and
Households, Businesses and other forprofit organizations.
Estimated Number of Respondents:
50.
Estimated Time per Respondent: 30
minutes.
Estimated Total Annual Burden
Hours: 25.
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,
E:\FR\FM\31MYN1.SGM
31MYN1
25336
Federal Register / Vol. 84, No. 105 / Friday, May 31, 2019 / Notices
maintenance, and purchase of services
to provide information.
Approved: May 28, 2019.
Laurie Brimmer,
Senior Tax Analyst.
[FR Doc. 2019–11379 Filed 5–30–19; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
AGENCY:
Æ Self-Correction Program (SCP)—permits
a plan sponsor to correct certain plan failures
without contacting the IRS or paying any fee.
Æ Voluntary Correction Program (VCP)—
permits a plan sponsor to, any time before
audit, pay a fee and receive IRS approval for
correction of plan failures.
Æ Audit Closing Agreement Program
(Audit CAP)—permits a plan sponsor to pay
a sanction and correct a plan failure while
the plan is under audit.
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
Paperwork Reduction Act of 1995. The
IRS is soliciting comments concerning
Employee Plans Compliance Resolution
System (EPCRS UPDATE OF REV.
PROCS. 2018–52 and 2016–51,
including Forms 8950, 8951, 14568,
14568–A through I).
DATES: Written comments should be
received on or before July 30, 2019 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 this notice 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: Employee Plans Compliance
Resolution System (EPCRS UPDATE OF
REV. PROCS. 2018–52 and 2016–51,
including Forms 8950, 8951, 14568,
14568–A through I).
OMB Number: 1545–1673.
Abstract: This revenue procedure
updates the Comprehensive system of
correction programs for sponsors of
retirement plans that are intended to
satisfy the requirements of §§ 401(a),
403(a), 403(b), 408(k), or 408(p) of the
Internal Revenue Code, but that have
Current Actions: Rev. Proc. 2018–52,
2018–42 I.R.B. 611, which modified and
superseded Rev. Proc. 2016–51, 2016–
42 I.R.B. 465, the prior consolidated
statement of the correction programs
under EPCRS. Rev. Proc. 2018–52
provides that beginning January 1, 2019,
Plan Sponsors may file a VCP
submission with the IRS (including
payment of applicable user fees) using
the www.pay.gov website. On or after
April 1, 2019, Plan Sponsors are
required to use the www.pay.gov
website when filing a VCP submission
and paying applicable user fees. To ease
the transition to the new submission
procedures, from January 1, 2019,
through March 31, 2019, Plan Sponsors
are permitted to continue to file paper
VCP submissions with the IRS in
accordance with the procedures in
sections 10 and 11 of Rev. Proc. 2016–
51. The IRS will not accept paper VCP
submissions postmarked on or after
April 1, 2019. In addition, beginning
April 1, 2019, the IRS no longer will
process user fees paid with a paper
check.
In order to provide new procedures
for filing a VCP submission and paying
applicable user fees on the www.pay.gov
website, section 10 includes several
modifications. Section 10.01 is revised
to set forth the requirements for
satisfying the VCP procedures. In
addition to satisfying the terms of a
compliance statement, the Plan Sponsor
must file the submission and pay the
applicable user fee using the
www.pay.gov website. Many of the
procedures for filing the VCP
submission are set forth in section 11.
Although the Plan Sponsor is
responsible for filing the VCP
submission and paying the user fee
using the www.pay.gov website, section
10.01 clarifies that a Plan Sponsor may
Internal Revenue Service
Proposed Collection; Comment
Request for Employee Plans
Compliance Resolution System
(EPCRS UPDATE OF REV. PROCS.
2018–52 and 2016–51, Including Forms
8950, 8951, 14568, 14568–A Through I)
Internal Revenue Service (IRS),
Treasury.
ACTION: Notice and request for
comments.
SUMMARY:
khammond on DSKBBV9HB2PROD with NOTICES
not met these requirements for a period
of time. This system (https://
www.irs.gov/Retirement-Plans/EPCRSOverview), the Employee Plans
Compliance Resolution System
(EPCRS), permits Plan Sponsors to
correct these failures and thereby
continue to provide their employees
with retirement benefits on a taxfavored basis. The components of
EPCRS are:
VerDate Sep<11>2014
16:42 May 30, 2019
Jkt 247001
PO 00000
Frm 00106
Fmt 4703
Sfmt 4703
designate an authorized representative
to file the VCP submission if certain
requirements are satisfied.
Section 11 sets forth filing procedures
for VCP submissions. These procedures
have been modified to reflect electronic
filing of VCP submissions and payment
of applicable user fees using the
www.pay.gov website. An electronic
VCP submission filed using the
www.pay.gov website must include
many of the same materials as a VCP
submission filed on paper pursuant to
Rev. Proc. 2016–51.
For a description of the modifications
to Rev. Proc. 2016–51, see section 2 of
Rev. Proc. 2018–52.
Type of Review: Revision of a
currently approved collection.
Affected Public: Individuals and
business or other for-profit
organizations, not-for-profit institutions,
and state, local or tribal governments.
Estimated Number of Respondents:
14,300.
Estimated Average Time per
Respondent: 13 hours, 21 minutes.
Estimated Total Annual Burden
Hours: 190,941.
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. Comments
will be 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 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 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.
E:\FR\FM\31MYN1.SGM
31MYN1
]]>Agencies
[Federal Register Volume 84, Number 105 (Friday, May 31, 2019)]
[Notices]
[Pages 25335-25336]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-11379]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment Request for TD 9452
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
information collections, as required by the Paperwork Reduction Act of
1995. The IRS is soliciting comments concerning final regulation TD
9452, Application of Separate Limitations to Dividends from
Noncontrolled Section 902 Corporations.
DATES: Written comments should be received on or before July 30, 2019
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 regulation should be directed to Sara Covington, (202)
317-6038, at Internal Revenue Service, Room 6526, 1111 Constitution
Avenue NW, Washington, DC 20224, or through the internet at
[email protected].
SUPPLEMENTARY INFORMATION:
Title: Application of Separate Limitations to Dividends from
Noncontrolled Section 902 Corporations.
OMB Number: 1545-2014.
Regulation Project Number: TD 9452.
Abstract: The regulations require a collection of information in
order for a taxpayer to make certain tax elections. The American Jobs
Creation Act of 2004 amended the foreign tax credit treatment of
dividends from noncontrolled section 902 corporations effective for
post-2002 tax years, and the Gulf Opportunity Zone Act of 2005
permitted taxpayers to elect to defer the effective date of these
amendments until post-2004 tax years (GOZA election). Treas. Reg. Sec.
1.904-7(f)(9)(ii)(C) requires a taxpayer making the GOZA election to
attach a statement to such effect to its next tax return for which the
due date (with extensions) is more than 90 days after April 25, 2006.
Treas. Reg. Sec. 1.964-1(c)(3) requires certain shareholders making
tax elections (section 964 elections) on behalf of a controlled foreign
corporation or noncontrolled section 902 corporation to sign a jointly
executed consent (that is retained by one designated shareholder) and
to attach a statement to their tax returns for the election year.
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 and Households, Businesses and other
for-profit organizations.
Estimated Number of Respondents: 50.
Estimated Time per Respondent: 30 minutes.
Estimated Total Annual Burden Hours: 25.
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,
[[Page 25336]]
maintenance, and purchase of services to provide information.
Approved: May 28, 2019.
Laurie Brimmer,
Senior Tax Analyst.
[FR Doc. 2019-11379 Filed 5-30-19; 8:45 am]
BILLING CODE 4830-01-P
