Agency Information Collection Activities; Submission for OMB Review; Comment Request; Multiple Internal Revenue Service Information Collection Requests, 70269-70271 [2019-27546]
Download as PDF
<![CDATA[
Federal Register / Vol. 84, No. 245 / Friday, December 20, 2019 / Notices
Dated: December 13, 2019.
Andrea Gacki,
Director, Office of Foreign Assets Control.
[FR Doc. 2019–27434 Filed 12–19–19; 8:45 am]
BILLING CODE 4810–AL–P
DEPARTMENT OF THE TREASURY
Agency Information Collection
Activities; Submission for OMB
Review; Comment Request; Multiple
Fiscal Service 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
public is invited to submit comments on
these requests.
DATES: Comments should be received on
or before January 21, 2020 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 8100, Washington, DC
20220, or email at PRA@treasury.gov.
FOR FURTHER INFORMATION CONTACT:
Copies of the submissions may be
obtained from Spencer W. Clark by
emailing PRA@treasury.gov, calling
(202) 927–5331, or viewing the entire
information collection request at
www.reginfo.gov.
SUMMARY:
SUPPLEMENTARY INFORMATION:
jbell on DSKJLSW7X2PROD with NOTICES
Bureau of the Fiscal Service (BFS)
1. Title: Direct Deposit Sign-Up
Forms.
OMB Control Number: 1530–0006.
Type of Review: Extension without
change of a currently approved
collection.
Description: The Direct Deposit SignUp Form is used by recipients to
authorize the deposit of Federal
payments into their accounts at
financial institutions. The information
is used to route the Direct Deposit
VerDate Sep<11>2014
18:30 Dec 19, 2019
Jkt 250001
payment to the correct account at the
correct financial institution. It identifies
persons who have executed the form.
Form: FS Form 1200, FS Form 1201S,
Form 1200 Online, FS Form 1200, FS
Form 1201L, SF–1199A, FS Form 1200
VADE.
Affected Public: Individuals and
households.
Estimated Number of Respondents:
406,715.
Frequency of Response: Once.
Estimated Total Number of Annual
Responses: 406,715.
Estimated Time per Response: 10
minutes.
Estimated Total Annual Burden
Hours: 67,786.
2. Title: Management of Federal
Agency Disbursements.
OMB Control Number: 1530–0016.
Type of Review: Extension without
change of a currently approved
collection.
Description: This regulation requires
that most Federal payments be made by
Electronic Funds Transfer (EFT); sets
forth waiver requirements; and provides
for a low-cost Treasury-designated
account to individuals at a financial
institution that offers such accounts.
Form: None.
Affected Public: Businesses or other
for-profits.
Estimated Number of Respondents:
1,300.
Frequency of Response: Once.
Estimated Total Number of Annual
Responses: 1,300.
Estimated Time per Response: 15
minutes.
Estimated Total Annual Burden
Hours: 325.
3. Title: Electronic Funds Transfer
(EFT) Market Research Study.
OMB Control Number: 1530–0022.
Type of Review: Extension without
change of a currently approved
collection.
Description: This is a generic
clearance to conduct customer
satisfaction surveys. The need for these
surveys arises from Congressional
directive that accompanied legislation
enacted in 1996, as part of the Debt
Collection Improvement Act (Pub. L.
104–134), expanding the scope of check
recipients required to use direct deposit
to receive Federal benefit payments (see
31 U.S.C. 3332). Congress directed
Treasury to ‘‘study the socioeconomic
and demographic characteristics of
those who currently do not have Direct
Deposit and determine how best to
increase usage among all groups.’’
Form: None.
Affected Public: Individuals and
households.
PO 00000
Frm 00124
Fmt 4703
Sfmt 4703
70269
Estimated Number of Respondents:
19,500.
Frequency of Response: Once.
Estimated Total Number of Annual
Responses: 19,500.
Estimated Time per Response: 16
minutes.
Estimated Total Annual Burden
Hours: 5,200.
Authority: 44 U.S.C. 3501 et seq.
Dated: December 16, 2019.
Spencer W. Clark,
Treasury PRA Clearance Officer.
[FR Doc. 2019–27446 Filed 12–19–19; 8:45 am]
BILLING CODE 4810–AS–P
DEPARTMENT OF THE TREASURY
Agency Information Collection
Activities; Submission for OMB
Review; Comment Request; Multiple
Internal Revenue Service 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
public is invited to submit comments on
these requests.
DATES: Comments should be received on
or before January 21, 2020 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 8100, Washington, DC
20220, or email at PRA@treasury.gov.
FOR FURTHER INFORMATION CONTACT:
Copies of the submissions may be
obtained from Spencer W. Clark by
emailing PRA@treasury.gov, calling
(202) 927–5331, or viewing the entire
information collection request at
www.reginfo.gov.
SUPPLEMENTARY INFORMATION:
SUMMARY:
Internal Revenue Service (IRS)
1. Title: Forest Activities Schedule.
OMB Control Number: 1545–0007.
E:\FR\FM\20DEN1.SGM
20DEN1
jbell on DSKJLSW7X2PROD with NOTICES
70270
Federal Register / Vol. 84, No. 245 / Friday, December 20, 2019 / Notices
Type of Review: Revision of a
currently approved collection.
Description: Form T is filed by
individuals and corporations to report
income and deductions from the
operation of a timber business. The IRS
uses Form T to determine if the correct
amount of income and deductions are
reported.
Form: Form T (Timber).
Affected Public: Individuals and
households.
Estimated Number of Respondents:
10.
Frequency of Response: Annually.
Estimated Total Number of Annual
Responses: 10.
Estimated Time per Response: 36.2
hours.
Estimated Total Annual Burden
Hours: 362.
2. Title: Form 706–A—United States
Additional Estate Tax Return.
OMB Control Number: 1545–0016.
Type of Review: Extension without
change of a currently approved
collection.
Description: Form 706–A is used by
individuals to compute and pay the
additional estate taxes due under Code
section 2032A(c). IRS uses the
information to determine that the taxes
have been properly computed. The form
is also used for the basis election of
section 1016(c)(1).
Form: 706–A.
Affected Public: Individuals and
households.
Estimated Number of Respondents:
180.
Frequency of Response: Once,
Annually.
Estimated Total Number of Annual
Responses: 180.
Estimated Time per Response: 9 hours
20 minutes.
Estimated Total Annual Burden
Hours: 1,678.
3. Title: Consent of Shareholder to
Include Specific Amount in Gross
Income.
OMB Control Number: 1545–0043.
Type of Review: Extension without
change of a currently approved
collection.
Description: 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.
Form: 972.
Affected Public: Individuals and
households.
Estimated Number of Respondents:
100.
Frequency of Response: Once.
Estimated Total Number of Annual
Responses: 100.
VerDate Sep<11>2014
18:30 Dec 19, 2019
Jkt 250001
Estimated Time per Response: 3 hours
51 minutes.
Estimated Total Annual Burden
Hours: 385.
4. Title: Dividend Equivalents From
Sources Within the United States REG–
120282–10 (TD 9734) & Forms 1042,
1042–S and 1042–T.
OMB Control Number: 1545–0096.
Type of Review: Extension without
change of a currently approved
collection.
Description: The previously approved
regulations pertain to section 871(m)
regarding dividend equivalent payments
that are treated as U.S. source income.
These regulations provide guidance
regarding when payments made
pursuant to certain financial
instruments will be treated as U.S.
source income and subject to U.S.
withholding tax. The information
provided is necessary to permit
withholding agents to determine
whether U.S. withholding tax is due
with respect to a payment of a dividend
equivalent and the amount of the tax.
The information will also be used for
audit and examination purposes.
Form 1042 is used by withholding
agents to report tax withheld at source
on certain income paid to nonresident
alien individuals, foreign partnerships,
and foreign corporations to the IRS.
Form 1042–S is used by withholding
agents to report income and tax
withheld to payees. A copy of each
1042–S is filed magnetically or with
Form 1042 for information reporting
purposes. The IRS uses this information
to verify that the correct amount of tax
has been withheld and paid to the
United States. Form 1042–T is used by
withholding agents to transmit Forms
1042–S to the IRS.
Form: 1042, 1042–S and 1042–T.
Affected Public: Businesses or other
for-profits.
Estimated Number of Respondents:
3,611,200.
Frequency of Response: On occasion.
Estimated Total Number of Annual
Responses: 3,611,200.
Estimated Time per Response: 12
minutes for 1042–T, 35 minutes for
1042–S, 18.05 hours for 1042 and 8
hours for REG–120282–10.
Estimated Total Annual Burden
Hours: 2,945,594.
5. Title: Form 1099–DIV—Dividends
and Distributions.
OMB Control Number: 1545–0110.
Type of Review: Extension without
change of a currently approved
collection.
Description: The Form 1099–DIV is
used by the Service to insure that
dividends are properly reported as
required by Code section 6042 and that
PO 00000
Frm 00125
Fmt 4703
Sfmt 4703
liquidation distributions are correctly
reported as required by Code section
6043, and to determine whether payees
are correctly reporting their income.
Form: 1099–DIV.
Affected Public: Businesses or other
for-profits.
Estimated Number of Respondents:
78,339,500.
Frequency of Response: Annually, On
occasion.
Estimated Total Number of Annual
Responses: 78,339,500.
Estimated Time per Response: 25
minutes.
Estimated Total Annual Burden
Hours: 32,119,195.
6. Title: U.S. Departing Alien Income
Tax Statement.
OMB Control Number: 1545–0138.
Type of Review: Extension without
change of a currently approved
collection.
Description: Form 2063 is used by a
departing resident alien against whom a
termination assessment has not been
made, or a departing non- resident alien
who has no taxable income from United
States sources, to certify that they have
satisfied all U.S. income tax obligations.
The data is used by the IRS to certify
that departing aliens have complied
with U.S. income tax laws.
Form: 2063.
Affected Public: Individuals and
households.
Estimated Number of Respondents:
20,540.
Frequency of Response: On occasion.
Estimated Total Number of Annual
Responses: 20,540.
Estimated Time per Response: 50
minutes.
Estimated Total Annual Burden
Hours: 17,049.
7. Title: Form 3520, Annual Return To
Report Transactions With Foreign
Trusts and Receipt of Certain Foreign
Gifts; Form 3520–A, Annual
Information Return of Foreign Trust
With a U.S. Owner.
OMB Control Number: 1545–0159.
Type of Review: Revision of a
currently approved collection.
Description: U.S. persons file Form
3520 to report certain transactions with
foreign trusts, ownership of foreign
trusts under the rules of Internal
Revenue Code sections 671 through 679,
and receipt of certain large gifts or
bequests from certain foreign persons.
Form 3520–A is the annual information
return of a foreign trust with at least one
U.S. owner. The form provides
information about the foreign trust, its
U.S. beneficiaries, and any U.S. person
who is treated as an owner of any
portion of the foreign trust under the
grantor trust rules.
E:\FR\FM\20DEN1.SGM
20DEN1
Federal Register / Vol. 84, No. 245 / Friday, December 20, 2019 / Notices
jbell on DSKJLSW7X2PROD with NOTICES
Form: 3520, 3520–A.
Affected Public: Individuals and
households.
Estimated Number of Respondents:
2,500.
Frequency of Response: Annually.
Estimated Total Number of Annual
Responses: 1,820.
Estimated Time per Response: 54.35
hours for 3520, 45.59 hours for 3520–A.
Estimated Total Annual Burden
Hours: 94,537.
8. Title: Form 11–C—Occupational
Tax and Registration Return for
Wagering.
OMB Control Number: 1545–0236.
Type of Review: Extension without
change of a currently approved
collection.
Description: Form 11–C is used to
register persons accepting wagers (IRC
section 4412). IRS uses this form to
register the respondent, collect the
annual stamp tax (IRC section 4411),
and to verify that the tax on wagers is
reported on Form 730.
Form: 11–C.
Affected Public: Businesses or other
for-profits.
Estimated Number of Respondents:
11,500.
Frequency of Response: Annually.
Estimated Total Number of Annual
Responses: 11,500.
Estimated Time per Response: 7 hours
4 minutes.
VerDate Sep<11>2014
18:30 Dec 19, 2019
Jkt 250001
Estimated Total Annual Burden
Hours: 81,190.
9. Title: Creditability of Foreign
Taxes.
OMB Control Number: 1545–0746.
Type of Review: Extension without
change of a currently approved
collection.
Description: The information needed
is a statement by the taxpayer that it has
elected to apply the safe harbor formula
of section 1.901–2A(e) of the foreign tax
credit regulations. This statement is
necessary in order that the IRS may
properly determine the taxpayer’s tax
liability.
Form: None.
Affected Public: Businesses or other
for-profits.
Estimated Number of Respondents:
120.
Frequency of Response: Once,
Annually.
Estimated Total Number of Annual
Responses: 120.
Estimated Time per Response: 20
minutes.
Estimated Total Annual Burden
Hours: 41.
10. Title: Limitation on Reduction in
Income Tax Liability Incurred to the
Virgin Islands (TD 6629).
OMB Control Number: 1545–0782.
Type of Review: Extension without
change of a currently approved
collection.
PO 00000
Frm 00126
Fmt 4703
Sfmt 9990
70271
Description: The Tax Reform Act of
1986 repealed the mandatory reporting
and recordkeeping requirements of
section 934(d)(1954 Code). The prior
exception to the general rule of section
934 (1954 Code) to prevent the
Government of the U.S. Virgin Islands
from granting tax rebates with regard to
taxes attributable to income derived
from sources within the U.S. was
contingent upon the taxpayer’s
compliance with the reporting
requirements of section 934(d).
Form: None.
Affected Public: Individuals and
households.
Estimated Number of Respondents:
500.
Frequency of Response: On occasion.
Estimated Total Number of Annual
Responses: 500.
Estimated Time per Response: 22
minutes.
Estimated Total Annual Burden
Hours: 185.
Authority: 44 U.S.C. 3501 et seq.
Dated: December 17, 2019.
Spencer W. Clark,
Treasury PRA Clearance Officer.
[FR Doc. 2019–27546 Filed 12–19–19; 8:45 am]
BILLING CODE 4830–01–P
E:\FR\FM\20DEN1.SGM
20DEN1
]]>Agencies
[Federal Register Volume 84, Number 245 (Friday, December 20, 2019)]
[Notices]
[Pages 70269-70271]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-27546]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Agency Information Collection Activities; Submission for OMB
Review; Comment Request; Multiple Internal Revenue Service Information
Collection Requests
AGENCY: Departmental Offices, U.S. Department of the Treasury.
ACTION: Notice.
-----------------------------------------------------------------------
SUMMARY: 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 public is invited to submit comments on these requests.
DATES: Comments should be received on or before January 21, 2020 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 [email protected] and (2) Treasury PRA
Clearance Officer, 1750 Pennsylvania Ave. NW, Suite 8100, Washington,
DC 20220, or email at [email protected].
FOR FURTHER INFORMATION CONTACT: Copies of the submissions may be
obtained from Spencer W. Clark by emailing [email protected], calling
(202) 927-5331, or viewing the entire information collection request at
www.reginfo.gov.
SUPPLEMENTARY INFORMATION:
Internal Revenue Service (IRS)
1. Title: Forest Activities Schedule.
OMB Control Number: 1545-0007.
[[Page 70270]]
Type of Review: Revision of a currently approved collection.
Description: Form T is filed by individuals and corporations to
report income and deductions from the operation of a timber business.
The IRS uses Form T to determine if the correct amount of income and
deductions are reported.
Form: Form T (Timber).
Affected Public: Individuals and households.
Estimated Number of Respondents: 10.
Frequency of Response: Annually.
Estimated Total Number of Annual Responses: 10.
Estimated Time per Response: 36.2 hours.
Estimated Total Annual Burden Hours: 362.
2. Title: Form 706-A--United States Additional Estate Tax Return.
OMB Control Number: 1545-0016.
Type of Review: Extension without change of a currently approved
collection.
Description: Form 706-A is used by individuals to compute and pay
the additional estate taxes due under Code section 2032A(c). IRS uses
the information to determine that the taxes have been properly
computed. The form is also used for the basis election of section
1016(c)(1).
Form: 706-A.
Affected Public: Individuals and households.
Estimated Number of Respondents: 180.
Frequency of Response: Once, Annually.
Estimated Total Number of Annual Responses: 180.
Estimated Time per Response: 9 hours 20 minutes.
Estimated Total Annual Burden Hours: 1,678.
3. Title: Consent of Shareholder to Include Specific Amount in
Gross Income.
OMB Control Number: 1545-0043.
Type of Review: Extension without change of a currently approved
collection.
Description: 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.
Form: 972.
Affected Public: Individuals and households.
Estimated Number of Respondents: 100.
Frequency of Response: Once.
Estimated Total Number of Annual Responses: 100.
Estimated Time per Response: 3 hours 51 minutes.
Estimated Total Annual Burden Hours: 385.
4. Title: Dividend Equivalents From Sources Within the United
States REG-120282-10 (TD 9734) & Forms 1042, 1042-S and 1042-T.
OMB Control Number: 1545-0096.
Type of Review: Extension without change of a currently approved
collection.
Description: The previously approved regulations pertain to section
871(m) regarding dividend equivalent payments that are treated as U.S.
source income. These regulations provide guidance regarding when
payments made pursuant to certain financial instruments will be treated
as U.S. source income and subject to U.S. withholding tax. The
information provided is necessary to permit withholding agents to
determine whether U.S. withholding tax is due with respect to a payment
of a dividend equivalent and the amount of the tax. The information
will also be used for audit and examination purposes.
Form 1042 is used by withholding agents to report tax withheld at
source on certain income paid to nonresident alien individuals, foreign
partnerships, and foreign corporations to the IRS. Form 1042-S is used
by withholding agents to report income and tax withheld to payees. A
copy of each 1042-S is filed magnetically or with Form 1042 for
information reporting purposes. The IRS uses this information to verify
that the correct amount of tax has been withheld and paid to the United
States. Form 1042-T is used by withholding agents to transmit Forms
1042-S to the IRS.
Form: 1042, 1042-S and 1042-T.
Affected Public: Businesses or other for-profits.
Estimated Number of Respondents: 3,611,200.
Frequency of Response: On occasion.
Estimated Total Number of Annual Responses: 3,611,200.
Estimated Time per Response: 12 minutes for 1042-T, 35 minutes for
1042-S, 18.05 hours for 1042 and 8 hours for REG-120282-10.
Estimated Total Annual Burden Hours: 2,945,594.
5. Title: Form 1099-DIV--Dividends and Distributions.
OMB Control Number: 1545-0110.
Type of Review: Extension without change of a currently approved
collection.
Description: The Form 1099-DIV is used by the Service to insure
that dividends are properly reported as required by Code section 6042
and that liquidation distributions are correctly reported as required
by Code section 6043, and to determine whether payees are correctly
reporting their income.
Form: 1099-DIV.
Affected Public: Businesses or other for-profits.
Estimated Number of Respondents: 78,339,500.
Frequency of Response: Annually, On occasion.
Estimated Total Number of Annual Responses: 78,339,500.
Estimated Time per Response: 25 minutes.
Estimated Total Annual Burden Hours: 32,119,195.
6. Title: U.S. Departing Alien Income Tax Statement.
OMB Control Number: 1545-0138.
Type of Review: Extension without change of a currently approved
collection.
Description: Form 2063 is used by a departing resident alien
against whom a termination assessment has not been made, or a departing
non- resident alien who has no taxable income from United States
sources, to certify that they have satisfied all U.S. income tax
obligations. The data is used by the IRS to certify that departing
aliens have complied with U.S. income tax laws.
Form: 2063.
Affected Public: Individuals and households.
Estimated Number of Respondents: 20,540.
Frequency of Response: On occasion.
Estimated Total Number of Annual Responses: 20,540.
Estimated Time per Response: 50 minutes.
Estimated Total Annual Burden Hours: 17,049.
7. Title: Form 3520, Annual Return To Report Transactions With
Foreign Trusts and Receipt of Certain Foreign Gifts; Form 3520-A,
Annual Information Return of Foreign Trust With a U.S. Owner.
OMB Control Number: 1545-0159.
Type of Review: Revision of a currently approved collection.
Description: U.S. persons file Form 3520 to report certain
transactions with foreign trusts, ownership of foreign trusts under the
rules of Internal Revenue Code sections 671 through 679, and receipt of
certain large gifts or bequests from certain foreign persons. Form
3520-A is the annual information return of a foreign trust with at
least one U.S. owner. The form provides information about the foreign
trust, its U.S. beneficiaries, and any U.S. person who is treated as an
owner of any portion of the foreign trust under the grantor trust
rules.
[[Page 70271]]
Form: 3520, 3520-A.
Affected Public: Individuals and households.
Estimated Number of Respondents: 2,500.
Frequency of Response: Annually.
Estimated Total Number of Annual Responses: 1,820.
Estimated Time per Response: 54.35 hours for 3520, 45.59 hours for
3520-A.
Estimated Total Annual Burden Hours: 94,537.
8. Title: Form 11-C--Occupational Tax and Registration Return for
Wagering.
OMB Control Number: 1545-0236.
Type of Review: Extension without change of a currently approved
collection.
Description: Form 11-C is used to register persons accepting wagers
(IRC section 4412). IRS uses this form to register the respondent,
collect the annual stamp tax (IRC section 4411), and to verify that the
tax on wagers is reported on Form 730.
Form: 11-C.
Affected Public: Businesses or other for-profits.
Estimated Number of Respondents: 11,500.
Frequency of Response: Annually.
Estimated Total Number of Annual Responses: 11,500.
Estimated Time per Response: 7 hours 4 minutes.
Estimated Total Annual Burden Hours: 81,190.
9. Title: Creditability of Foreign Taxes.
OMB Control Number: 1545-0746.
Type of Review: Extension without change of a currently approved
collection.
Description: The information needed is a statement by the taxpayer
that it has elected to apply the safe harbor formula of section 1.901-
2A(e) of the foreign tax credit regulations. This statement is
necessary in order that the IRS may properly determine the taxpayer's
tax liability.
Form: None.
Affected Public: Businesses or other for-profits.
Estimated Number of Respondents: 120.
Frequency of Response: Once, Annually.
Estimated Total Number of Annual Responses: 120.
Estimated Time per Response: 20 minutes.
Estimated Total Annual Burden Hours: 41.
10. Title: Limitation on Reduction in Income Tax Liability Incurred
to the Virgin Islands (TD 6629).
OMB Control Number: 1545-0782.
Type of Review: Extension without change of a currently approved
collection.
Description: The Tax Reform Act of 1986 repealed the mandatory
reporting and recordkeeping requirements of section 934(d)(1954 Code).
The prior exception to the general rule of section 934 (1954 Code) to
prevent the Government of the U.S. Virgin Islands from granting tax
rebates with regard to taxes attributable to income derived from
sources within the U.S. was contingent upon the taxpayer's compliance
with the reporting requirements of section 934(d).
Form: None.
Affected Public: Individuals and households.
Estimated Number of Respondents: 500.
Frequency of Response: On occasion.
Estimated Total Number of Annual Responses: 500.
Estimated Time per Response: 22 minutes.
Estimated Total Annual Burden Hours: 185.
Authority: 44 U.S.C. 3501 et seq.
Dated: December 17, 2019.
Spencer W. Clark,
Treasury PRA Clearance Officer.
[FR Doc. 2019-27546 Filed 12-19-19; 8:45 am]
BILLING CODE 4830-01-P
