Agency Information Collection Activities; Submission for OMB Review; Comment Request; Multiple Internal Revenue Service Information Collection Requests, 71531-71534 [2019-27888]
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Federal Register / Vol. 84, No. 248 / Friday, December 27, 2019 / Notices
3. How should DOT measure freight
transportation system performance? In
your response, consider both safety and
efficiency, as well as performance
thresholds across multimodal metrics
(i.e., hours of delay, infrastructure
conditions, planning time index) that
represent untenable performance for the
public or private sector. Consider how
performance metrics could be employed
to inform DOT’s discretionary grant
programs.
4. What industry freight-specific
knowledge is critical to understanding
supply chains and how economic trends
impact freight logistics and cargo
movements? How can such data and/or
knowledge be procured or shared
amongst public and private sector
partners? Are there technological
innovations, such as Blockchain and the
Internet of Things (IoT), that DOT
should know about?
5. What should be considered
regarding vital operational or equipment
innovations, emerging technology
advances from research communities, as
well as infrastructure or facility
concepts in freight transportation?
6. What approach should the federal
government use to invest in the
multimodal freight system? How would
this approach apply to each
transportation mode, for freight in
general, for specific industries, or for
freight assets owned by the private
sector (i.e., rail, pipelines, maritime)?
What are best practices for identifying
projects that involve both public and
private sector assets and for encouraging
communication between the public and
private sector to complete those
projects?
7. What barriers (such as regulatory,
technological, institutional, statutory)
are critical to freight efficiency that DOT
should better understand? Please
consider which of these affect freight
origination and/or destination areas, as
well as intermodal transfers, and
describe the root causes of the
inefficiencies.
8. What information is critical to
understanding the unique infrastructure
and operational freight impacts faced by
local communities? Please detail any
best practices in economic development
and planning processes that support
freight intensive activity or innovative
financing. Describe current and
prospective infrastructure safety
enhancements that should be
considered.
9. How would you define a bottleneck
in your industry? (Consider both surface
and maritime transportation).
10. What else should DOT consider
(including the eleven statutory criteria
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listed above) or do to improve freight
transportation in the U.S.?
Public Comment
The DOT invites comments by all
those interested in the draft National
Freight Strategic Plan. Comments on the
draft NFSP may be submitted and
viewed at Docket Number DOT–OST–
2019–0184. The web address is:
XXXXXX. Comments must be received
on or before [45 days from posting of
this notice] to receive full consideration
by DOT with respect to the final NFSP.
After [45 days from posting of this
notice], comments will continue to be
available for viewing by the public.
Dated: December 19, 2019.
Joel Szabat,
Acting Under Secretary Transportation for
Policy.
[FR Doc. 2019–27897 Filed 12–26–19; 8:45 am]
BILLINGCODE 4910–9X–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 27, 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
SUMMARY:
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71531
(202) 927–5331, or viewing the entire
information collection request at
www.reginfo.gov.
SUPPLEMENTARY INFORMATION:
Internal Revenue Service (IRS)
1. Title: Form 8233—Exemption From
Withholding on Compensation for
Independent (and Certain Dependent)
Personal Services of a Nonresident
Alien Individual.
OMB Control Number: 1545–0795.
Type of Review: Revision of a
currently approved collection.
Description: Compensation paid to a
nonresident alien (NRA) individual for
independent personal services (selfemployment) is generally subject to
30% withholding or graduated rates.
However, compensation may be exempt
from withholding because of a U.S. tax
treaty. Form 8233 is used to request
exemption from withholding.
Form: 8233.
Affected Public: Individuals and
households.
Estimated Number of Respondents:
75,617.
Frequency of Response: Annually.
Estimated Total Number of Annual
Responses: 75,617.
Estimated Time per Response: 8 hours
57 minutes.
Estimated Total Annual Burden
Hours: 676,773.
2. Title: Disclosure Statement (Form
8275), and Regulation Disclosure
Statement (Form 8275–R).
OMB Control Number: 1545–0889.
Type of Review: Extension without
change of a currently approved
collection.
Description: IRC section 6662 imposes
accuracy related penalties for
substantial understatement of tax
liability or negligence or disregard of
rules and regulations. Section 6694
imposes similar penalties on return
preparers. Regulations section 1.6662–
4(e) and (f) provide for reduction of
these penalties if adequate disclosure of
the tax treatment is made on Form 8275
or, if the position is contrary to a
regulation on Form 8275–R.
Form: 8275, 8275–R.
Affected Public: Businesses or other
for-profits.
Estimated Number of Respondents:
666,666.
Frequency of Response: Annually.
Estimated Total Number of Annual
Responses: 666,666.
Estimated Time per Response: 5 hours
35 minutes.
Estimated Total Annual Burden
Hours: 3,716,664.
3. Title: Interest Charge on DISCRelated Deferred Tax Liability.
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OMB Control Number: 1545–0939.
Type of Review: Extension without
change of a currently approved
collection.
Description: Shareholders of Interest
Charge Domestic International Sales
Corporations (IC–DISCs) use Form 8404
to figure and report an interest charge
on their DISC-related deferred tax
liability. The interest charge is required
by Internal Revenue Code section 995(f).
IRS uses Form 8404 to determine
whether the shareholder has correctly
figured and paid the interest charge on
a timely basis.
Form: 8404.
Affected Public: Businesses or other
for-profits.
Estimated Number of Respondents:
2,000.
Frequency of Response: Annually.
Estimated Total Number of Annual
Responses: 2,000.
Estimated Time per Response: 7 hours
48 minutes.
Estimated Total Annual Burden
Hours: 15,580.
4. Title: Regulations Governing the
Performance of Actuarial Services under
the Employee Retirement Income
Security Act of 1974 (20 CFR 901).
OMB Control Number: 1545–0951.
Type of Review: Revision of a
currently approved collection.
Description: The information relates
to the granting of enrollment status to
actuaries admitted (licensed) by the
Joint Board for the Enrollment of
Actuaries to perform actuarial services
under the Employee Retirement Income
Security Act of 1974. Form 5434 is used
to apply for enrollment to perform
actuarial services and Form 5434–A is
used to renew enrollment every three
years to perform actuarial services
under (ERISA). The information is used
by the Joint Board for the Enrollment of
Actuaries to determine the eligibility of
the applicant to perform actuarial
services. The regulations require that
records be kept that verify satisfaction of
requirements, and certificates of
completion education requirements.
Form: 5434, 5434–A.
Affected Public: Individuals and
households.
Estimated Number of Respondents:
6,166.
Frequency of Response: Annually.
Estimated Total Number of Annual
Responses: 6,166.
Estimated Time per Response: 18
minutes.
Estimated Total Annual Burden
Hours: 1,900.
5. Title: Generation-Skipping Transfer
Tax Return for Distributions.
OMB Control Number: 1545–1144.
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Type of Review: Extension without
change of a currently approved
collection.
Description: Form 706–GS(D) is used
by distributees to compute and report
the Federal Generation Skipping
Transfer tax imposed by IRC section
2601. IRS uses the information to
enforce this tax and to verify that the tax
has been properly computed. The
distributee will file a single Form 706
GS(D) annually and will report on it all
taxable distributions from any trust
received during the year. An individual
will not file Form 706 GS(D) for any
year in which he/she received no
taxable distributions.
Form: 706 GS(D).
Affected Public: Individuals and
households.
Estimated Number of Respondents:
1,000.
Frequency of Response: Annually.
Estimated Total Number of Annual
Responses: 1,000.
Estimated Time per Response: 59
minutes.
Estimated Total Annual Burden
Hours: 980.
6. Title: TD 8459—Settlement Funds.
OMB Control Number: 1545–1299.
Type of Review: Extension without
change of a currently approved
collection.
Description: The reporting
requirements affect taxpayers that are
qualified settlement funds; they will be
required to file income tax returns,
estimated income tax returns, and
withholding tax returns. The
information will facilitate taxpayer
examinations.
Form: None.
Affected Public: Businesses or other
for-profits.
Estimated Number of Respondents:
1,500.
Frequency of Response: Annually, On
occasion.
Estimated Total Number of Annual
Responses: 2,750.
Estimated Time per Response: 1 hour
17 minutes.
Estimated Total Annual Burden
Hours: 3,542.
7. Title: Environmental Taxes (26 CFR
part 52).
OMB Control Number: 1545–1361.
Type of Review: Extension without
change of a currently approved
collection.
Description: Section 4681 imposes a
tax on ozone-depleting chemicals sold
or used by a manufacturer or importer
thereof. Section 4681 also imposes a tax
on ozone-depleting chemicals sold or
used by a manufacturer or importer
thereof and imported taxable products
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sold or used by an importer thereof. A
floor stocks tax is also imposed. Section
4682 provides exemptions and reduced
rates of tax for certain uses of ozonedepleting chemicals. These regulations
provide reporting and recordkeeping
rules and have been codified under 26
CFR part 52.
Form: None.
Affected Public: Businesses or other
for-profits.
Estimated Number of Respondents:
150,350.
Frequency of Response: On occasion.
Estimated Total Number of Annual
Responses: 150,350.
Estimated Time per Response: 30
minutes.
Estimated Total Annual Burden
Hours: 75,265.
8. Title: Excise Taxes on Excess
Inclusions of REMIC Residual Interests.
OMB Control Number: 1545–1379.
Type of Review: Extension without
change of a currently approved
collection.
Description: Form 8831 is used by a
real estate mortgage investment conduit
(REMIC) to figure its excise tax liability
under Code sections 860E(e)(1),
860E(e)(6), and 860E–2(a)(7)(ii). IRS
uses the information to determine the
correct tax liability of the REMIC.
Form: 8831.
Affected Public: Businesses or other
for-profits.
Estimated Number of Respondents:
31.
Frequency of Response: On occasion.
Estimated Total Number of Annual
Responses: 31.
Estimated Time per Response: 7 hours
38 minutes.
Estimated Total Annual Burden
Hours: 237.
9. Title: Form 1098 Mortgage Interest
Statement; TD 8571 (Formerly IA–17–
90) Reporting Requirements for
Recipients of Points Paid on Residential
Mortgages.
OMB Control Number: 1545–1380.
Type of Review: Revision of a
currently approved collection.
Description: To encourage compliance
with the tax laws relating to the
mortgage interest deduction, the
regulations require the reporting on
Form 1098 of points paid on residential
mortgage. Only businesses that receive
mortgage interest in the course of a trade
or business are affected by this reporting
requirement.
Form: 1098.
Affected Public: Individuals and
households, Businesses and other forprofits.
Estimated Number of Respondents:
37,644 businesses and 79,394,400
individuals.
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Frequency of Response: Annually, On
occasion.
Estimated Total Number of Annual
Responses: 1,256,560 for businesses and
79,394,400 for individuals.
Estimated Time per Response: 15
minutes.
Estimated Total Annual Burden
Hours: 20,131,656.
10. Title: Debt Instruments with OID;
Contingent Payments; Anti-Abuse Rule.
OMB Control Number: 1545–1450.
Type of Review: Extension without
change of a currently approved
collection.
Description: The regulations provide
definitions, general rules, and reporting
requirements for debt instruments that
provide for contingent payments. The
regulations also provide definitions,
general rules, and recordkeeping
requirements for integrated debt
instruments.
Form: None.
Affected Public: Businesses or other
for-profits.
Estimated Number of Respondents:
180,000.
Frequency of Response: Annually.
Estimated Total Number of Annual
Responses: 180,000.
Estimated Time per Response: 29
minutes.
Estimated Total Annual Burden
Hours: 89,000.
11. Title: Regulations Under Section
1258 of the Internal Revenue Code of
1986; Netting Rule for Certain
Conversion Transactions (TD 8649).
OMB Control Number: 1545–1452.
Type of Review: Extension without
change of a currently approved
collection.
Description: Section 1258
recharacterizes capital gains from
conversion transactions as ordinary
income to the extent of the time value
element. This regulation provides that
certain gains and losses may be netted
for purposes of determining the amount
of gain recharacterized.
Form: None.
Affected Public: Businesses or other
for-profits.
Estimated Number of Respondents:
50,000.
Frequency of Response: Annually.
Estimated Total Number of Annual
Responses: 50,000.
Estimated Time per Response: 6
minutes.
Estimated Total Annual Burden
Hours: 5,000.
12. Title: LIFO Conformity
Requirement.
OMB Control Number: 1545–1559.
Type of Review: Extension without
change of a currently approved
collection.
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Description: Revenue Procedure 97–
44 permits automobile dealers that
comply with the terms of the revenue
procedure to continue using the LIFO
(Last-in first-out) inventory method
despite previous violations of the LIFO
conformity requirements of section
472(c) or (e)(2). Revenue Procedure 98–
46 modifies Revenue Procedure 97–44
by allowing medium-and heavy-duty
truck dealers to take advantage of the
favorable relief provided in Revenue
Procedure 97–44.
Form: None.
Affected Public: Businesses or other
for-profits.
Estimated Number of Respondents:
5,000.
Frequency of Response: Annually.
Estimated Total Number of Annual
Responses: 5,000.
Estimated Time per Response: 20
hours.
Estimated Total Annual Burden
Hours: 100,000.
13. Title: Source of Income from
Certain Space and Ocean Activities;
Source of Communications Income.
OMB Control Number: 1545–1718.
Type of Review: Extension without
change of a currently approved
collection.
Description: This document contains
final regulations under section 863(d)
governing the source of income from
certain space and ocean activities. It
also contains final regulations under
section 863(a), (d), and (e) governing the
source of income from certain
communications activities. In addition,
this document contains final regulations
under section 863(a) and (b), amending
the regulations in § 1.863–3 to conform
those regulations to these final
regulations. The final regulations
primarily affect persons who derive
income from activities conducted in
space, or on or under water not within
the jurisdiction of a foreign country,
possession of the United States, or the
United States (in international water).
The final regulations also affect persons
who derive income from transmission of
communications.
Form: None.
Affected Public: Businesses or other
for-profits.
Estimated Number of Respondents:
250.
Frequency of Response: Annually.
Estimated Total Number of Annual
Responses: 250.
Estimated Time per Response: 6
hours.
Estimated Total Annual Burden
Hours: 1,500.
14. Title: Revenue Procedure 2001–
29, Leveraged Leases.
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71533
OMB Control Number: 1545–1738.
Type of Review: Extension without
change of a currently approved
collection.
Description: Revenue Procedure
2001–29 sets forth the information and
representations required to be furnished
by taxpayers in requests for an advance
ruling that a leveraged lease transaction
is, in fact, a valid lease for federal
income tax purposes.
Form: None.
Affected Public: Businesses or other
for-profits.
Estimated Number of Respondents:
10.
Frequency of Response: On occasion.
Estimated Total Number of Annual
Responses: 10.
Estimated Time per Response: 80
hours.
Estimated Total Annual Burden
Hours: 800.
15. Title: Guidance Regarding
Deduction and Capitalization of
Expenditures.
OMB Control Number: 1545–1870.
Type of Review: Extension without
change of a currently approved
collection.
Description: Final regulations require
that a taxpayer’s nonaccrual-experience
method must be self-tested against the
taxpayer’s experience to determine
whether the nonaccrual-experience
method clearly reflects the taxpayer’s
experience. The information required to
be retained by taxpayers will constitute
sufficient documentation for purposes
of substantiating a deduction. The
information will be used by the agency
on audit to determine the taxpayer’s
entitlement to a deduction. The
respondents include taxpayers who
engage in certain transactions involving
the acquisition of a trade or business or
an ownership interest in a legal entity.
Form: None.
Affected Public: Businesses or other
for-profits.
Estimated Number of Respondents:
3,000.
Frequency of Response: Annually.
Estimated Total Number of Annual
Responses: 3,000.
Estimated Time per Response: 1 hour.
Estimated Total Annual Burden
Hours: 3,000.
16. Title: Regulations Governing
Practice Before the Internal Revenue
Service.
OMB Control Number: 1545–1871.
Type of Review: Extension without
change of a currently approved
collection.
Description: This document contains
final regulations revising the regulations
governing practice before the Internal
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Revenue Service (Circular 230). These
regulations affect individuals who
practice before the Internal Revenue
Service. These final regulations set forth
best practices for tax advisors providing
advice to taxpayers relating to Federal
tax issues or submissions to the IRS.
These final regulations also provide
standards for covered opinions and
other written advice. These disclosures
will ensure that taxpayers are provided
with adequate information regarding the
limits of tax shelter advice that they
receive, and also ensure that
practitioners properly advise of
taxpayers of relevant information with
respect to tax shelter opinions.
Form: None.
Affected Public: Businesses or other
for-profits.
Estimated Number of Respondents:
100,000.
Frequency of Response: On occasion.
Estimated Total Number of Annual
Responses: 100,000.
Estimated Time per Response: 8
minutes.
Estimated Total Annual Burden
Hours: 13,333.
17. Title: Information Return of U.S.
Persons With Respect To Foreign
Disregarded Entities; and Transactions
Between Foreign Disregarded Entity of a
Foreign Tax Owner and the Filer.
OMB Control Number: 1545–1910.
Type of Review: Extension without
change of a currently approved
collection.
Description: Form 8858 and Schedule
M (Form 8858) are used by certain U.S.
persons that own a foreign disregarded
entity (FDE) directly or, in certain
circumstances, indirectly or
constructively. The form and schedules
are used to satisfy the reporting
requirements of sections 6011, 6012,
6031, and 6038, and related regulations.
Form: Form 8858 and Schedule M.
Affected Public: Businesses or other
for-profits.
Estimated Number of Respondents:
8,000.
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Frequency of Response: Annually.
Estimated Total Number of Annual
Responses: 8,000.
Estimated Time per Response: 24
hours 45 minutes.
Estimated Total Annual Burden
Hours: 198,800.
18. Title: Application to Participate in
the Income Verification Express Service
(IVES) Program.
OMB Control Number: 1545–2032.
Type of Review: Extension without
change of a currently approved
collection.
Description: Form 13803, Application
to Participate in the Income Verification
Express Service (IVES) Program, is used
to submit the required information
necessary to complete the e-services
enrollment process for IVES users and
to identify delegates receiving
transcripts on behalf of the principle
account user.
Form: 13803.
Affected Public: Businesses or other
for-profits.
Estimated Number of Respondents:
200.
Frequency of Response: On occasion.
Estimated Total Number of Annual
Responses: 200.
Estimated Time per Response: 30
minutes.
Estimated Total Annual Burden
Hours: 100.
19. Title: Employment Tax
Adjustments and Rules Relating to
Additional Medicare Tax.
OMB Control Number: 1545–2097.
Type of Review: Extension without
change of a currently approved
collection.
Description: This information is
required to verify compliance with
return requirements under section 6011,
employment tax adjustments under
section 6205 and 6413, and claims for
refund of overpayments of employment
taxes under section 6402 and 6414.
Form: None.
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Affected Public: Individuals and
households, Businesses and other forprofits.
Estimated Number of Respondents:
3,400,000.
Frequency of Response: Annually.
Estimated Total Number of Annual
Responses: 3,400,000.
Estimated Time per Response: 10
hours for employment tax adjustments,
1 hour for other provisions.
Estimated Total Annual Burden
Hours: 16,900,000.
20. Title: Elections for Certain
Transactions Under Section 336(e).
OMB Control Number: 1545–2125.
Type of Review: Extension without
change of a currently approved
collection.
Description: This document contains
regulations under section 336(e)
regarding situations whereby a
corporation can elect to treat certain
sales, exchanges, or distributions of
subsidiary stock as an asset sale. The
information being collected relates to
the making of the section 336(e)
election. The collection of information
will notify the IRS when as election
under section 336(e) is made and will
provide relevant information pertaining
to the parties making the election.
Form: None.
Affected Public: Businesses or other
for-profits.
Estimated Number of Respondents:
500.
Frequency of Response: On occasion.
Estimated Total Number of Annual
Responses: 500.
Estimated Time per Response: 2
hours.
Estimated Total Annual Burden
Hours: 1,000.
(Authority: 44 U.S.C. 3501 et seq.)
Dated: December 19, 2019.
Spencer W. Clark,
Treasury PRA Clearance Officer.
[FR Doc. 2019–27888 Filed 12–26–19; 8:45 am]
BILLING CODE 4830–01–P
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]]>Agencies
[Federal Register Volume 84, Number 248 (Friday, December 27, 2019)]
[Notices]
[Pages 71531-71534]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-27888]
=======================================================================
-----------------------------------------------------------------------
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 27, 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: Form 8233--Exemption From Withholding on Compensation for
Independent (and Certain Dependent) Personal Services of a Nonresident
Alien Individual.
OMB Control Number: 1545-0795.
Type of Review: Revision of a currently approved collection.
Description: Compensation paid to a nonresident alien (NRA)
individual for independent personal services (self-employment) is
generally subject to 30% withholding or graduated rates. However,
compensation may be exempt from withholding because of a U.S. tax
treaty. Form 8233 is used to request exemption from withholding.
Form: 8233.
Affected Public: Individuals and households.
Estimated Number of Respondents: 75,617.
Frequency of Response: Annually.
Estimated Total Number of Annual Responses: 75,617.
Estimated Time per Response: 8 hours 57 minutes.
Estimated Total Annual Burden Hours: 676,773.
2. Title: Disclosure Statement (Form 8275), and Regulation
Disclosure Statement (Form 8275-R).
OMB Control Number: 1545-0889.
Type of Review: Extension without change of a currently approved
collection.
Description: IRC section 6662 imposes accuracy related penalties
for substantial understatement of tax liability or negligence or
disregard of rules and regulations. Section 6694 imposes similar
penalties on return preparers. Regulations section 1.6662-4(e) and (f)
provide for reduction of these penalties if adequate disclosure of the
tax treatment is made on Form 8275 or, if the position is contrary to a
regulation on Form 8275-R.
Form: 8275, 8275-R.
Affected Public: Businesses or other for-profits.
Estimated Number of Respondents: 666,666.
Frequency of Response: Annually.
Estimated Total Number of Annual Responses: 666,666.
Estimated Time per Response: 5 hours 35 minutes.
Estimated Total Annual Burden Hours: 3,716,664.
3. Title: Interest Charge on DISC-Related Deferred Tax Liability.
[[Page 71532]]
OMB Control Number: 1545-0939.
Type of Review: Extension without change of a currently approved
collection.
Description: Shareholders of Interest Charge Domestic International
Sales Corporations (IC-DISCs) use Form 8404 to figure and report an
interest charge on their DISC-related deferred tax liability. The
interest charge is required by Internal Revenue Code section 995(f).
IRS uses Form 8404 to determine whether the shareholder has correctly
figured and paid the interest charge on a timely basis.
Form: 8404.
Affected Public: Businesses or other for-profits.
Estimated Number of Respondents: 2,000.
Frequency of Response: Annually.
Estimated Total Number of Annual Responses: 2,000.
Estimated Time per Response: 7 hours 48 minutes.
Estimated Total Annual Burden Hours: 15,580.
4. Title: Regulations Governing the Performance of Actuarial
Services under the Employee Retirement Income Security Act of 1974 (20
CFR 901).
OMB Control Number: 1545-0951.
Type of Review: Revision of a currently approved collection.
Description: The information relates to the granting of enrollment
status to actuaries admitted (licensed) by the Joint Board for the
Enrollment of Actuaries to perform actuarial services under the
Employee Retirement Income Security Act of 1974. Form 5434 is used to
apply for enrollment to perform actuarial services and Form 5434-A is
used to renew enrollment every three years to perform actuarial
services under (ERISA). The information is used by the Joint Board for
the Enrollment of Actuaries to determine the eligibility of the
applicant to perform actuarial services. The regulations require that
records be kept that verify satisfaction of requirements, and
certificates of completion education requirements.
Form: 5434, 5434-A.
Affected Public: Individuals and households.
Estimated Number of Respondents: 6,166.
Frequency of Response: Annually.
Estimated Total Number of Annual Responses: 6,166.
Estimated Time per Response: 18 minutes.
Estimated Total Annual Burden Hours: 1,900.
5. Title: Generation-Skipping Transfer Tax Return for
Distributions.
OMB Control Number: 1545-1144.
Type of Review: Extension without change of a currently approved
collection.
Description: Form 706-GS(D) is used by distributees to compute and
report the Federal Generation Skipping Transfer tax imposed by IRC
section 2601. IRS uses the information to enforce this tax and to
verify that the tax has been properly computed. The distributee will
file a single Form 706 GS(D) annually and will report on it all taxable
distributions from any trust received during the year. An individual
will not file Form 706 GS(D) for any year in which he/she received no
taxable distributions.
Form: 706 GS(D).
Affected Public: Individuals and households.
Estimated Number of Respondents: 1,000.
Frequency of Response: Annually.
Estimated Total Number of Annual Responses: 1,000.
Estimated Time per Response: 59 minutes.
Estimated Total Annual Burden Hours: 980.
6. Title: TD 8459--Settlement Funds.
OMB Control Number: 1545-1299.
Type of Review: Extension without change of a currently approved
collection.
Description: The reporting requirements affect taxpayers that are
qualified settlement funds; they will be required to file income tax
returns, estimated income tax returns, and withholding tax returns. The
information will facilitate taxpayer examinations.
Form: None.
Affected Public: Businesses or other for-profits.
Estimated Number of Respondents: 1,500.
Frequency of Response: Annually, On occasion.
Estimated Total Number of Annual Responses: 2,750.
Estimated Time per Response: 1 hour 17 minutes.
Estimated Total Annual Burden Hours: 3,542.
7. Title: Environmental Taxes (26 CFR part 52).
OMB Control Number: 1545-1361.
Type of Review: Extension without change of a currently approved
collection.
Description: Section 4681 imposes a tax on ozone-depleting
chemicals sold or used by a manufacturer or importer thereof. Section
4681 also imposes a tax on ozone-depleting chemicals sold or used by a
manufacturer or importer thereof and imported taxable products sold or
used by an importer thereof. A floor stocks tax is also imposed.
Section 4682 provides exemptions and reduced rates of tax for certain
uses of ozone-depleting chemicals. These regulations provide reporting
and recordkeeping rules and have been codified under 26 CFR part 52.
Form: None.
Affected Public: Businesses or other for-profits.
Estimated Number of Respondents: 150,350.
Frequency of Response: On occasion.
Estimated Total Number of Annual Responses: 150,350.
Estimated Time per Response: 30 minutes.
Estimated Total Annual Burden Hours: 75,265.
8. Title: Excise Taxes on Excess Inclusions of REMIC Residual
Interests.
OMB Control Number: 1545-1379.
Type of Review: Extension without change of a currently approved
collection.
Description: Form 8831 is used by a real estate mortgage investment
conduit (REMIC) to figure its excise tax liability under Code sections
860E(e)(1), 860E(e)(6), and 860E-2(a)(7)(ii). IRS uses the information
to determine the correct tax liability of the REMIC.
Form: 8831.
Affected Public: Businesses or other for-profits.
Estimated Number of Respondents: 31.
Frequency of Response: On occasion.
Estimated Total Number of Annual Responses: 31.
Estimated Time per Response: 7 hours 38 minutes.
Estimated Total Annual Burden Hours: 237.
9. Title: Form 1098 Mortgage Interest Statement; TD 8571 (Formerly
IA-17-90) Reporting Requirements for Recipients of Points Paid on
Residential Mortgages.
OMB Control Number: 1545-1380.
Type of Review: Revision of a currently approved collection.
Description: To encourage compliance with the tax laws relating to
the mortgage interest deduction, the regulations require the reporting
on Form 1098 of points paid on residential mortgage. Only businesses
that receive mortgage interest in the course of a trade or business are
affected by this reporting requirement.
Form: 1098.
Affected Public: Individuals and households, Businesses and other
for-profits.
Estimated Number of Respondents: 37,644 businesses and 79,394,400
individuals.
[[Page 71533]]
Frequency of Response: Annually, On occasion.
Estimated Total Number of Annual Responses: 1,256,560 for
businesses and 79,394,400 for individuals.
Estimated Time per Response: 15 minutes.
Estimated Total Annual Burden Hours: 20,131,656.
10. Title: Debt Instruments with OID; Contingent Payments; Anti-
Abuse Rule.
OMB Control Number: 1545-1450.
Type of Review: Extension without change of a currently approved
collection.
Description: The regulations provide definitions, general rules,
and reporting requirements for debt instruments that provide for
contingent payments. The regulations also provide definitions, general
rules, and recordkeeping requirements for integrated debt instruments.
Form: None.
Affected Public: Businesses or other for-profits.
Estimated Number of Respondents: 180,000.
Frequency of Response: Annually.
Estimated Total Number of Annual Responses: 180,000.
Estimated Time per Response: 29 minutes.
Estimated Total Annual Burden Hours: 89,000.
11. Title: Regulations Under Section 1258 of the Internal Revenue
Code of 1986; Netting Rule for Certain Conversion Transactions (TD
8649).
OMB Control Number: 1545-1452.
Type of Review: Extension without change of a currently approved
collection.
Description: Section 1258 recharacterizes capital gains from
conversion transactions as ordinary income to the extent of the time
value element. This regulation provides that certain gains and losses
may be netted for purposes of determining the amount of gain
recharacterized.
Form: None.
Affected Public: Businesses or other for-profits.
Estimated Number of Respondents: 50,000.
Frequency of Response: Annually.
Estimated Total Number of Annual Responses: 50,000.
Estimated Time per Response: 6 minutes.
Estimated Total Annual Burden Hours: 5,000.
12. Title: LIFO Conformity Requirement.
OMB Control Number: 1545-1559.
Type of Review: Extension without change of a currently approved
collection.
Description: Revenue Procedure 97-44 permits automobile dealers
that comply with the terms of the revenue procedure to continue using
the LIFO (Last-in first-out) inventory method despite previous
violations of the LIFO conformity requirements of section 472(c) or
(e)(2). Revenue Procedure 98-46 modifies Revenue Procedure 97-44 by
allowing medium-and heavy-duty truck dealers to take advantage of the
favorable relief provided in Revenue Procedure 97-44.
Form: None.
Affected Public: Businesses or other for-profits.
Estimated Number of Respondents: 5,000.
Frequency of Response: Annually.
Estimated Total Number of Annual Responses: 5,000.
Estimated Time per Response: 20 hours.
Estimated Total Annual Burden Hours: 100,000.
13. Title: Source of Income from Certain Space and Ocean
Activities; Source of Communications Income.
OMB Control Number: 1545-1718.
Type of Review: Extension without change of a currently approved
collection.
Description: This document contains final regulations under section
863(d) governing the source of income from certain space and ocean
activities. It also contains final regulations under section 863(a),
(d), and (e) governing the source of income from certain communications
activities. In addition, this document contains final regulations under
section 863(a) and (b), amending the regulations in Sec. 1.863-3 to
conform those regulations to these final regulations. The final
regulations primarily affect persons who derive income from activities
conducted in space, or on or under water not within the jurisdiction of
a foreign country, possession of the United States, or the United
States (in international water). The final regulations also affect
persons who derive income from transmission of communications.
Form: None.
Affected Public: Businesses or other for-profits.
Estimated Number of Respondents: 250.
Frequency of Response: Annually.
Estimated Total Number of Annual Responses: 250.
Estimated Time per Response: 6 hours.
Estimated Total Annual Burden Hours: 1,500.
14. Title: Revenue Procedure 2001-29, Leveraged Leases.
OMB Control Number: 1545-1738.
Type of Review: Extension without change of a currently approved
collection.
Description: Revenue Procedure 2001-29 sets forth the information
and representations required to be furnished by taxpayers in requests
for an advance ruling that a leveraged lease transaction is, in fact, a
valid lease for federal income tax purposes.
Form: None.
Affected Public: Businesses or other for-profits.
Estimated Number of Respondents: 10.
Frequency of Response: On occasion.
Estimated Total Number of Annual Responses: 10.
Estimated Time per Response: 80 hours.
Estimated Total Annual Burden Hours: 800.
15. Title: Guidance Regarding Deduction and Capitalization of
Expenditures.
OMB Control Number: 1545-1870.
Type of Review: Extension without change of a currently approved
collection.
Description: Final regulations require that a taxpayer's
nonaccrual-experience method must be self-tested against the taxpayer's
experience to determine whether the nonaccrual-experience method
clearly reflects the taxpayer's experience. The information required to
be retained by taxpayers will constitute sufficient documentation for
purposes of substantiating a deduction. The information will be used by
the agency on audit to determine the taxpayer's entitlement to a
deduction. The respondents include taxpayers who engage in certain
transactions involving the acquisition of a trade or business or an
ownership interest in a legal entity.
Form: None.
Affected Public: Businesses or other for-profits.
Estimated Number of Respondents: 3,000.
Frequency of Response: Annually.
Estimated Total Number of Annual Responses: 3,000.
Estimated Time per Response: 1 hour.
Estimated Total Annual Burden Hours: 3,000.
16. Title: Regulations Governing Practice Before the Internal
Revenue Service.
OMB Control Number: 1545-1871.
Type of Review: Extension without change of a currently approved
collection.
Description: This document contains final regulations revising the
regulations governing practice before the Internal
[[Page 71534]]
Revenue Service (Circular 230). These regulations affect individuals
who practice before the Internal Revenue Service. These final
regulations set forth best practices for tax advisors providing advice
to taxpayers relating to Federal tax issues or submissions to the IRS.
These final regulations also provide standards for covered opinions and
other written advice. These disclosures will ensure that taxpayers are
provided with adequate information regarding the limits of tax shelter
advice that they receive, and also ensure that practitioners properly
advise of taxpayers of relevant information with respect to tax shelter
opinions.
Form: None.
Affected Public: Businesses or other for-profits.
Estimated Number of Respondents: 100,000.
Frequency of Response: On occasion.
Estimated Total Number of Annual Responses: 100,000.
Estimated Time per Response: 8 minutes.
Estimated Total Annual Burden Hours: 13,333.
17. Title: Information Return of U.S. Persons With Respect To
Foreign Disregarded Entities; and Transactions Between Foreign
Disregarded Entity of a Foreign Tax Owner and the Filer.
OMB Control Number: 1545-1910.
Type of Review: Extension without change of a currently approved
collection.
Description: Form 8858 and Schedule M (Form 8858) are used by
certain U.S. persons that own a foreign disregarded entity (FDE)
directly or, in certain circumstances, indirectly or constructively.
The form and schedules are used to satisfy the reporting requirements
of sections 6011, 6012, 6031, and 6038, and related regulations.
Form: Form 8858 and Schedule M.
Affected Public: Businesses or other for-profits.
Estimated Number of Respondents: 8,000.
Frequency of Response: Annually.
Estimated Total Number of Annual Responses: 8,000.
Estimated Time per Response: 24 hours 45 minutes.
Estimated Total Annual Burden Hours: 198,800.
18. Title: Application to Participate in the Income Verification
Express Service (IVES) Program.
OMB Control Number: 1545-2032.
Type of Review: Extension without change of a currently approved
collection.
Description: Form 13803, Application to Participate in the Income
Verification Express Service (IVES) Program, is used to submit the
required information necessary to complete the e-services enrollment
process for IVES users and to identify delegates receiving transcripts
on behalf of the principle account user.
Form: 13803.
Affected Public: Businesses or other for-profits.
Estimated Number of Respondents: 200.
Frequency of Response: On occasion.
Estimated Total Number of Annual Responses: 200.
Estimated Time per Response: 30 minutes.
Estimated Total Annual Burden Hours: 100.
19. Title: Employment Tax Adjustments and Rules Relating to
Additional Medicare Tax.
OMB Control Number: 1545-2097.
Type of Review: Extension without change of a currently approved
collection.
Description: This information is required to verify compliance with
return requirements under section 6011, employment tax adjustments
under section 6205 and 6413, and claims for refund of overpayments of
employment taxes under section 6402 and 6414.
Form: None.
Affected Public: Individuals and households, Businesses and other
for-profits.
Estimated Number of Respondents: 3,400,000.
Frequency of Response: Annually.
Estimated Total Number of Annual Responses: 3,400,000.
Estimated Time per Response: 10 hours for employment tax
adjustments, 1 hour for other provisions.
Estimated Total Annual Burden Hours: 16,900,000.
20. Title: Elections for Certain Transactions Under Section 336(e).
OMB Control Number: 1545-2125.
Type of Review: Extension without change of a currently approved
collection.
Description: This document contains regulations under section
336(e) regarding situations whereby a corporation can elect to treat
certain sales, exchanges, or distributions of subsidiary stock as an
asset sale. The information being collected relates to the making of
the section 336(e) election. The collection of information will notify
the IRS when as election under section 336(e) is made and will provide
relevant information pertaining to the parties making the election.
Form: None.
Affected Public: Businesses or other for-profits.
Estimated Number of Respondents: 500.
Frequency of Response: On occasion.
Estimated Total Number of Annual Responses: 500.
Estimated Time per Response: 2 hours.
Estimated Total Annual Burden Hours: 1,000.
(Authority: 44 U.S.C. 3501 et seq.)
Dated: December 19, 2019.
Spencer W. Clark,
Treasury PRA Clearance Officer.
[FR Doc. 2019-27888 Filed 12-26-19; 8:45 am]
BILLING CODE 4830-01-P
