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