Proposed Collection; Comment Request for Form 8873, 66055 [2019-25989]

Download as PDF Federal Register / Vol. 84, No. 231 / Monday, December 2, 2019 / Notices Approved: November 22, 2019. R. Joseph Durbala, IRS Tax Analyst. [FR Doc. 2019–25990 Filed 11–29–19; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Form 8873 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 Form 8873, Extraterritorial Income Exclusion. DATES: Written comments should be received on or before January 31, 2020 to be assured of consideration. ADDRESSES: Direct all written comments to Dr. Philippe Thomas, 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 Sara Covington, at (202) 317–6038, 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: Extraterritorial Income Exclusion. OMB Number: 1545–1722. Form Number: 8873. Abstract: The FSC and Extraterritorial Income Exclusion Act of 2000 added section 114 to the Internal Revenue Code. Section 114 provides for an exclusion from gross income for certain transactions occurring after September 30, 2000, with respect to foreign trading gross receipts. Form 8873 is used to compute the amount of extraterritorial income excluded from gross income for the tax year. Current Actions: There are no changes being made to the form at this time. This submission is for renewal purposes only. Type of Review: Extension of a currently approved collection. jbell on DSKJLSW7X2PROD with NOTICES SUMMARY: VerDate Sep<11>2014 18:18 Nov 29, 2019 Jkt 250001 Affected Public: Business or other forprofit organizations. Estimated Number of Respondents: 750,000. Estimated Time per Respondent: 24 hours, 27 minutes. Estimated Total Annual Burden Hours: 19,087,500. 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: November 25, 2019. Philippe Thomas, IRS Supervisory Tax Analyst. [FR Doc. 2019–25989 Filed 11–29–19; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Revenue Procedure 2007– 12 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: PO 00000 Frm 00091 Fmt 4703 Sfmt 4703 66055 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 Revenue Procedure 2007–12, Certification for No Information Reporting on the Sale or Exchange of a Principal Residence. DATES: Written comments should be received on or before January 31, 2020 to be assured of consideration. ADDRESSES: Direct all written comments to Dr. Philippe Thomas, Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC 20224. FOR FURTHER INFORMATION CONTACT: Requests for additional information or copies of the revenue procedure should be directed to Sara Covington, at Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC 20224, or at (202) 317– 6038, or through the internet at Sara.L.Covington@irs.gov. SUPPLEMENTARY INFORMATION: Title: Certification For No Information Reporting on The Sale or Exchange of a Principal Residence. OMB Number: 1545–1592. Revenue Procedure Number: Revenue Procedure 2007–12. Abstract: This revenue procedure sets forth the acceptable form of the written assurances (certification) that a real estate reporting person must obtain from the seller of a principal residence to except such sale or exchange from the information reporting requirements for real estate transactions under section 6045(e)(5) of the Internal Revenue Code. Current Actions: There are no changes being made to the revenue procedure at this time. Type of Review: Extension of a currently approved collection. Affected Public: Individuals or households, and business or other forprofit organizations. Estimated Number of Respondents: 2,300,000. Estimated Time per Respondent: 10 minutes. Estimated Total Annual Burden Hours for Respondents: 383,000. Estimated Number of Recordkeepers: 90,000. Estimated Time per Recordkeeper: 25 minutes. Estimated Total Annual Burden Hours for Recordkeepers: 37,500. 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 E:\FR\FM\02DEN1.SGM 02DEN1

Agencies

[Federal Register Volume 84, Number 231 (Monday, December 2, 2019)]
[Notices]
[Page 66055]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-25989]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Form 8873

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 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 Form 8873, 
Extraterritorial Income Exclusion.

DATES: Written comments should be received on or before January 31, 
2020 to be assured of consideration.

ADDRESSES: Direct all written comments to Dr. Philippe Thomas, 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 Sara 
Covington, at (202) 317-6038, Internal Revenue Service, Room 6526, 1111 
Constitution Avenue NW, Washington, DC 20224, or through the internet 
at [email protected].

SUPPLEMENTARY INFORMATION: 
    Title: Extraterritorial Income Exclusion.
    OMB Number: 1545-1722.
    Form Number: 8873.
    Abstract: The FSC and Extraterritorial Income Exclusion Act of 2000 
added section 114 to the Internal Revenue Code. Section 114 provides 
for an exclusion from gross income for certain transactions occurring 
after September 30, 2000, with respect to foreign trading gross 
receipts. Form 8873 is used to compute the amount of extraterritorial 
income excluded from gross income for the tax year.
    Current Actions: There are no changes being made to the form at 
this time. This submission is for renewal purposes only.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents: 750,000.
    Estimated Time per Respondent: 24 hours, 27 minutes.
    Estimated Total Annual Burden Hours: 19,087,500.
    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: November 25, 2019.
Philippe Thomas,
IRS Supervisory Tax Analyst.
[FR Doc. 2019-25989 Filed 11-29-19; 8:45 am]
 BILLING CODE 4830-01-P