Proposed Collection; Comment Request for Form 8275 and 8275-R, 29586 [2019-13359]
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29586
Federal Register / Vol. 84, No. 121 / Monday, June 24, 2019 / Notices
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment
Request for Form 8275 and 8275–R
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 8275,
Disclosure Statement, and Form 8275–
R, Regulation Disclosure Statement.
DATES: Written comments should be
received on or before August 23, 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 form and instructions
should be directed to LaNita Van Dyke
at Internal Revenue Service, Room 6129,
1111 Constitution Avenue NW,
Washington, DC 20224, or through the
internet at Lanita.VanDyke@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Disclosure Statement (Form
8275) and Regulation Disclosure
Statement (Form 8275–R).
OMB Number: 1545–0889.
Form Number: Forms 8275 and 8275–
R.
Abstract: Internal Revenue Code
section 6662 imposes accuracy-related
penalties on taxpayers for substantial
understatement of tax liability or
negligence or disregard of rules and
regulations. Code section 6694 imposes
similar penalties on return preparers.
Regulations sections 1.662–4(e) and (f)
provide for reduction of these penalties
if adequate disclosure of the tax
treatment is made on Form 8275 or, if
the position is contrary to regulation on
Form 8275–R.
Current Actions: There are no changes
to the forms at this time.
Type of Review: Extension of a
currently approved collection.
Affected Public: Business or other forprofit organizations and individuals,
not-for-profit institutions, and farms.
Estimated Number of Responses:
666,666.
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SUMMARY:
VerDate Sep<11>2014
16:50 Jun 21, 2019
Jkt 247001
Estimated Time per Response: 5
hours, 34 minutes.
Estimated Total Annual Burden
Hours: 3,716,664.
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 19, 2019.
Laurie Brimmer,
Senior Tax Analyst.
[FR Doc. 2019–13359 Filed 6–21–19; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Agency Information Collection
Activities; Submission for OMB
Review; Comment Request; Multiple
IRS Information Collection Requests
Departmental Offices, U.S.
Department of the Treasury.
ACTION: Notice.
AGENCY:
The Department of the
Treasury will submit the following
information collection requests to the
Office of Management and Budget
(OMB) for review and clearance in
accordance with the Paperwork
Reduction Act of 1995, on or after the
date of publication of this notice. The
SUMMARY:
PO 00000
Frm 00094
Fmt 4703
Sfmt 4703
public is invited to submit comments on
these requests.
DATES: Comments should be received on
or before July 24, 2019 to be assured of
consideration.
ADDRESSES: Send comments regarding
the burden estimate, or any other aspect
of the information collection, including
suggestions for reducing the burden, to
(1) Office of Information and Regulatory
Affairs, Office of Management and
Budget, Attention: Desk Officer for
Treasury, New Executive Office
Building, Room 10235, Washington, DC
20503, or email at OIRA_Submission@
OMB.EOP.gov and (2) Treasury PRA
Clearance Officer, 1750 Pennsylvania
Ave. NW, Suite 8142, Washington, DC
20220, or email at PRA@treasury.gov.
FOR FURTHER INFORMATION CONTACT:
Copies of the submissions may be
obtained from Jennifer Quintana by
emailing PRA@treasury.gov, calling
(202) 622–0489, or viewing the entire
information collection request at
www.reginfo.gov.
SUPPLEMENTARY INFORMATION:
Internal Revenue Service (IRS)
Title: Form 1099 MISC—
Miscellaneous Income.
OMB Control Number: 1545–0115.
Type of Review: Revision of a
currently approved collection.
Description: Form 1099–MISC is used
by payers to report payments of $600 or
more of rent, prizes and awards,
medical and health care payments,
nonemployee compensation, and crop
insurance proceeds, $10 or more of
royalties, any amount of fishing boat
proceeds, certain substitute payments,
golden parachute payments, and an
indication of direct sales of $5,000 or
more.
Form: 1099–MISC.
Affected Public: Businesses or other
for profits.
Estimated Number of Respondents:
99,447,800.
Frequency of Response: Annually.
Estimated Total Number of Annual
Responses: 99,447,800.
Estimated Time per Response: .31
hours per response.
Estimated Total Annual Burden
Hours: 30,828,818.
Title: Taxable Distributions Received
From Cooperatives.
OMB Control Number: 1545–0118.
Type of Review: Revision of a
currently approved collection.
Description: Form 1099–PATR is used
to report patronage dividends paid by
cooperatives (IRC sec. 6044). The
information is used by IRS to verify
reporting compliance on the part of the
recipient.
E:\FR\FM\24JNN1.SGM
24JNN1
]]>Agencies
[Federal Register Volume 84, Number 121 (Monday, June 24, 2019)]
[Notices]
[Page 29586]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-13359]
[[Page 29586]]
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment Request for Form 8275 and 8275-R
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 8275, Disclosure Statement, and Form 8275-R,
Regulation Disclosure Statement.
DATES: Written comments should be received on or before August 23, 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 form and instructions should be directed to LaNita Van
Dyke at Internal Revenue Service, Room 6129, 1111 Constitution Avenue
NW, Washington, DC 20224, or through the internet at
[email protected].
SUPPLEMENTARY INFORMATION:
Title: Disclosure Statement (Form 8275) and Regulation Disclosure
Statement (Form 8275-R).
OMB Number: 1545-0889.
Form Number: Forms 8275 and 8275-R.
Abstract: Internal Revenue Code section 6662 imposes accuracy-
related penalties on taxpayers for substantial understatement of tax
liability or negligence or disregard of rules and regulations. Code
section 6694 imposes similar penalties on return preparers. Regulations
sections 1.662-4(e) and (f) provide for reduction of these penalties if
adequate disclosure of the tax treatment is made on Form 8275 or, if
the position is contrary to regulation on Form 8275-R.
Current Actions: There are no changes to the forms at this time.
Type of Review: Extension of a currently approved collection.
Affected Public: Business or other for-profit organizations and
individuals, not-for-profit institutions, and farms.
Estimated Number of Responses: 666,666.
Estimated Time per Response: 5 hours, 34 minutes.
Estimated Total Annual Burden Hours: 3,716,664.
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 19, 2019.
Laurie Brimmer,
Senior Tax Analyst.
[FR Doc. 2019-13359 Filed 6-21-19; 8:45 am]
BILLING CODE 4830-01-P
