Proposed Collection; Comment Request for Form 972, 48215-48216 [2019-19747]

Download as PDF Federal Register / Vol. 84, No. 177 / Thursday, September 12, 2019 / Notices Current Actions: There are no changes being made to the regulation at this time. Type of Review: Extension of a currently approved collection. Affected Public: Business or other forprofit organizations, and individuals or households. Estimated Number of Respondents: 100,000. Estimated Time per Respondent: 8 minutes. Estimated Total Annual Burden Hours: 13,333 hours. 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. jbell on DSK3GLQ082PROD with NOTICES Approved: September 9, 2019. Laurie Brimmer, Senior Tax Analyst. [FR Doc. 2019–19800 Filed 9–11–19; 8:45 am] BILLING CODE 4830–01–P VerDate Sep<11>2014 17:27 Sep 11, 2019 Jkt 247001 DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Extension of Information Collection Request Submitted for Public Comment; Comment Request for Form 1120–ND, Return for Nuclear Decommissioning Funds and Certain Related Persons 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 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 1120–ND, Return for Nuclear Decommissioning Funds and Certain Related Persons. DATES: Written comments should be received on or before November 12, 2019 to be assured of consideration. ADDRESSES: Direct all written comments to Laurie Brimmer, Internal Revenue Service, Room 6129, 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: Return for Nuclear Decommissioning Funds and Certain Related Persons. OMB Number: 1545–0954. Form Number: 1120–ND. Abstract: Form 1120–ND is filed by utilities that have nuclear power plants. These utilities set up funds to provide cash to decommission the nuclear power plant. Form 1120–ND is used to determine the tax liability and income tax that the fund must pay. Current Actions: There is no change to the burden previously approved by OMB. This form is being submitted for renewal purposes only. Type of Review: Extension of a currently approved collection. Affected Public: Businesses and other for-profit organizations. Estimated Number of Respondents: 100. Estimated Time per Respondent: 32 hrs., 35 mins. Estimated Total Annual Burden Hours: 3,259. SUMMARY: PO 00000 Frm 00115 Fmt 4703 Sfmt 4703 48215 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 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: September 4, 2019. R. Joseph Durbala, IRS Tax Analyst. [FR Doc. 2019–19680 Filed 9–11–19; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Form 972 Internal Revenue Service (IRS), Treasury. ACTION: Notice and request for comments. AGENCY: The Internal Revenue Service, as part of its continuing effort to reduce SUMMARY: E:\FR\FM\12SEN1.SGM 12SEN1 jbell on DSK3GLQ082PROD with NOTICES 48216 Federal Register / Vol. 84, No. 177 / Thursday, September 12, 2019 / Notices 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 consent of shareholder to include specific amount in gross income. DATES: Written comments should be received on or before November 12, 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 should be directed to Christina Leeper, at (737) 800–7737 or Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC 20224, or through the internet, at Christina.E.Leeper@irs.gov. SUPPLEMENTARY INFORMATION: Title: Consent of Shareholder to Include Specific Amount in Gross Income. OMB Number: 1545–0043. Form Number: Form 972. Abstract: Form 972 is used by a shareholder who agrees to report a consent dividend as taxable income on their own tax return. The shareholder completes the form and sends it to the corporation that will claim the consent dividend as a deduction. Current Actions: There is no change to the paperwork burden previously approved by OMB. Type of Review: Extension of a currently approved collection. Affected Public: Business or other forprofit organizations. Estimated Number of Respondents: 100. Estimated Time per Respondent: 3 hours, 51 minutes. Estimated Total Annual Burden Hours: 385. 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 VerDate Sep<11>2014 17:27 Sep 11, 2019 Jkt 247001 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: September 9, 2019. Laurie Brimmer, Senior Tax Analyst. [FR Doc. 2019–19747 Filed 9–11–19; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for T.D. 8649. 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 netting rule for certain conversion transactions. DATES: Written comments should be received on or before November 12, 2019 to be assured of consideration. ADDRESSES: Direct all written comments to L. 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 information collection 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: SUMMARY: PO 00000 Frm 00116 Fmt 4703 Sfmt 4703 Title: Regulations Under Section 1258 of the Internal Revenue Code of 1986; Netting Rule for Certain Conversion Transactions. OMB Number: 1545–1452. Regulation Project Number: TD 8649. Abstract: Internal Revenue Code section 1258 recharacterizes capital gains from conversion transactions as ordinary income to the extent of the time value element. The regulation provides that certain gains and losses may be netted for purposes of determining the amount of gain recharacterized. To be eligible for netting relief, the taxpayer must identify on its books and records all the positions that are part of the conversion transaction. This must be done before the close of the day on which the positions become part of the conversion transaction. Current Actions: There is no change to this existing regulation. Type of Review: Extension of a currently approved collection. Affected Public: Business or other forprofit organizations, and not-for-profit institutions. Estimated Number of Respondents: 50,000. Estimated Time per Respondent: 6 minutes. Estimated Total Annual Burden Hours: 5,000. 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 E:\FR\FM\12SEN1.SGM 12SEN1

Agencies

[Federal Register Volume 84, Number 177 (Thursday, September 12, 2019)]
[Notices]
[Pages 48215-48216]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-19747]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Form 972

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

[[Page 48216]]

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 consent of shareholder to include 
specific amount in gross income.

DATES: Written comments should be received on or before November 12, 
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 should be directed to Christina Leeper, at (737) 
800-7737 or Internal Revenue Service, Room 6526, 1111 Constitution 
Avenue NW, Washington, DC 20224, or through the internet, at 
[email protected].

SUPPLEMENTARY INFORMATION:
    Title: Consent of Shareholder to Include Specific Amount in Gross 
Income.
    OMB Number: 1545-0043.
    Form Number: Form 972.
    Abstract: Form 972 is used by a shareholder who agrees to report a 
consent dividend as taxable income on their own tax return. The 
shareholder completes the form and sends it to the corporation that 
will claim the consent dividend as a deduction.
    Current Actions: There is no change to the paperwork burden 
previously approved by OMB.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents: 100.
    Estimated Time per Respondent: 3 hours, 51 minutes.
    Estimated Total Annual Burden Hours: 385.
    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: September 9, 2019.
Laurie Brimmer,
Senior Tax Analyst.
[FR Doc. 2019-19747 Filed 9-11-19; 8:45 am]
BILLING CODE 4830-01-P