Proposed Collection; Comment Request for Form 8997, 52176 [2019-21308]
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52176
Federal Register / Vol. 84, No. 190 / Tuesday, October 1, 2019 / Notices
the reporting templates described in this
notice. Comments submitted in
response to this notice will be
summarized and 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 OCC, including
whether the information has practical
utility; (b) The accuracy of the OCC’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
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.
Dated: September 24, 2019.
Theodore J. Dowd,
Deputy Chief Counsel, Office of the
Comptroller of the Currency.
[FR Doc. 2019–21211 Filed 9–30–19; 8:45 am]
BILLING CODE 4810–33–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment
Request for Form 8997
Internal Revenue Service (IRS),
Treasury.
ACTION: Notice and request for
comments.
AGENCY:
SUMMARY: The Department of the
Treasury, 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 New Form 8997
Initial and Annual Statements of
Qualified Opportunity Fund (QOF)
Investments.
Written comments should be
received on or before December 2, 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
jbell on DSK3GLQ082PROD with NOTICES
DATES:
VerDate Sep<11>2014
18:10 Sep 30, 2019
Jkt 250001
should be directed to Dionne McLeod,
at (267) 941–6267, Internal Revenue
Service, Room 3256, 600 Arch Street,
Philadelphia, PA 19106, or through the
internet at Dionne.a.McLeod@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Initial and Annual Statements of
Qualified Opportunity Fund (QOF)
Investments.
OMB Number: 1545–xxxx.
Form Number: Form 8997.
Abstract: Form 8997 is filed by
eligible taxpayers holding a qualified
opportunity fund investment at any
point during the tax year.
Current Actions: The Tax Cuts and
Jobs Act (TCJA), section 13823, added
section 1400Z–1 to provide for the
designation of certain low-income
communities as qualified opportunity
zones and added section 1400Z–2 to
provide certain benefits for investments
in these qualified opportunity zones
through investment in qualified
opportunity funds (QOFs). Taxpayers
that invest in qualified opportunity zone
property through a QOF can defer the
recognition of certain gains. Form 8997
is provided by the IRS to accommodate
new section 1400Z–2. It will be used by
eligible taxpayers holding a qualified
opportunity fund (QOF) investment to
report their QOF investments and
deferred gains.
Type of Review: New Information
Collection.
Affected Public: individuals; C
corporations, including regulated
investment companies (RICs) and real
estate investment trusts (REITs);
partnerships; S corporations; trusts; and
estates.
Estimated Number of Respondents:
10,000.
Estimated Time per Respondent: 1.
Estimated Total Annual Burden
Hours: 10,000.
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:
PO 00000
Frm 00117
Fmt 4703
Sfmt 4703
(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 26, 2019.
Laurie Brimmer,
Senior Tax Analyst.
[FR Doc. 2019–21308 Filed 9–30–19; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment
Request for Form 8995
Internal Revenue Service (IRS),
Treasury.
ACTION: Notice and request for
comments.
AGENCY:
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 8995
Qualified Business Income Deduction
Simplified Computation.
DATES: Written comments should be
received on or before December 2, 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 Dionne McLeod,
at (267) 941–6267, Internal Revenue
Service, Room 3256, 600 Arch Street,
Philadelphia, PA 19106. or through the
internet at Dionne.a.McLeod@irs.gov
SUPPLEMENTARY INFORMATION:
Title: Qualified Business Income
Deduction Simplified Computation.
E:\FR\FM\01OCN1.SGM
01OCN1
]]>Agencies
[Federal Register Volume 84, Number 190 (Tuesday, October 1, 2019)]
[Notices]
[Page 52176]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-21308]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment Request for Form 8997
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Notice and request for comments.
-----------------------------------------------------------------------
SUMMARY: The Department of the Treasury, 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 New Form 8997 Initial and Annual Statements of
Qualified Opportunity Fund (QOF) Investments.
DATES: Written comments should be received on or before December 2,
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 Dionne
McLeod, at (267) 941-6267, Internal Revenue Service, Room 3256, 600
Arch Street, Philadelphia, PA 19106, or through the internet at
[email protected].
SUPPLEMENTARY INFORMATION:
Title: Initial and Annual Statements of Qualified Opportunity Fund
(QOF) Investments.
OMB Number: 1545-xxxx.
Form Number: Form 8997.
Abstract: Form 8997 is filed by eligible taxpayers holding a
qualified opportunity fund investment at any point during the tax year.
Current Actions: The Tax Cuts and Jobs Act (TCJA), section 13823,
added section 1400Z-1 to provide for the designation of certain low-
income communities as qualified opportunity zones and added section
1400Z-2 to provide certain benefits for investments in these qualified
opportunity zones through investment in qualified opportunity funds
(QOFs). Taxpayers that invest in qualified opportunity zone property
through a QOF can defer the recognition of certain gains. Form 8997 is
provided by the IRS to accommodate new section 1400Z-2. It will be used
by eligible taxpayers holding a qualified opportunity fund (QOF)
investment to report their QOF investments and deferred gains.
Type of Review: New Information Collection.
Affected Public: individuals; C corporations, including regulated
investment companies (RICs) and real estate investment trusts (REITs);
partnerships; S corporations; trusts; and estates.
Estimated Number of Respondents: 10,000.
Estimated Time per Respondent: 1.
Estimated Total Annual Burden Hours: 10,000.
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 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 26, 2019.
Laurie Brimmer,
Senior Tax Analyst.
[FR Doc. 2019-21308 Filed 9-30-19; 8:45 am]
BILLING CODE 4830-01-P
