Agency Information Collection Activities; Submission for OMB Review; Comment Request; Multiple Internal Revenue Service Information Collection Requests, 45956-45958 [2020-16480]
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45956
Federal Register / Vol. 85, No. 147 / Thursday, July 30, 2020 / Notices
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 August 31, 2020 to be assured
of consideration.
ADDRESSES: Written comments and
recommendations for the proposed
information collection should be sent
within 30 days of publication of this
notice to www.reginfo.gov/public/do/
PRAMain. Find this particular
information collection by selecting
‘‘Currently under 30-day Review—Open
for Public Comments’’ or by using the
search function.
FOR FURTHER INFORMATION CONTACT:
Copies of the submissions may be
obtained from Molly Stasko by emailing
PRA@treasury.gov, calling (202) 622–
8922, or viewing the entire information
collection request at www.reginfo.gov.
SUPPLEMENTARY INFORMATION:
khammond on DSKJM1Z7X2PROD with NOTICES
SUMMARY:
Internal Revenue Service (IRS)
1. Title: Form 940, Employer’s Annual
Federal Unemployment (FUTA) Tax
Return.
OMB Control Number: 1545–0028.
Type of Review: Extension without
change of a currently approved
collection.
Description: Internal Revenue Code
Section 3301 imposes a tax on
employers based on the first $7,000 of
taxable annual wages paid to each
employee. IRS uses the information
reported on Forms 940 and 940–PR
(Puerto Rico) to ensure that employers
have reported and figured the correct
FUTA wages and tax.
Form: Form 940, Form 940–PR.
Affected Public: Businesses or other
for-profit organizations, Individuals or
Households.
Estimated Number of Respondents:
6,871,052.
Frequency of Response: Annually.
Estimated Total Number of Annual
Responses: 6,836,052.
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Estimated Time per Response: 26
minutes to 16 hours 17 minutes.
Estimated Total Annual Burden
Hours: 105,271,229 hours.
2. Title: Returns regarding payments
of interest.
OMB Control Number: 1545–0112
Type of Review: Extension without
change of a currently approved
collection.
Description: Internal Revenue Code
section 6049 requires payers of interest
of $10 or more to file a return showing
the aggregate amount of interest paid to
a payee. Regulations sections 1.6049 4
and 1.6049 7 require Form 1099–INT to
be used to report this information. IRC
section 6041 and Regulations section
1.6041 1 require persons paying interest
(that is not covered under section 6049)
of $600 or more in the course of their
trades or businesses to report that
interest on Form 1099–INT. IRS uses
Form 1099– INT to verify compliance
with the reporting rules and to verify
that the recipient has included the
proper amount of interest on his or her
income tax return.
Form: 1099–INT.
Affected Public: Businesses and other
for-profit organizations, Individuals or
Households, and Not-For-Profit
Institutions.
Estimated Number of Respondents:
141,555,000.
Frequency of Response: Annually.
Estimated Total Number of Annual
Responses: 141,555,000.
Estimated Time per Response: 13
minutes.
Estimated Total Annual Burden
Hours: 46,403,150 hours.
3. Title: Depreciation and
Amortization (Including Information on
Listed Property)
OMB Control Number: 1545–0172.
Type of Review: Extension without
change of a currently approved
collection.
Description: Form 4562 is used to
claim a deduction for depreciation and
amortization; to make the election to
expense certain tangible property under
Internal Revenue Code section 179; and
to provide information on the business/
investment use of automobiles and other
listed property. The form provides the
IRS with the information necessary to
determine that the correct depreciation
deduction is being claimed.
Form: Form 4562.
Affected Public: Business or other forprofit organizations.
Estimated Number of Respondents:
12,313,626.
Frequency of Response: Annually.
Estimated Total Number of Annual
Responses: 12,313,626.
Estimated Time per Response: 36.41
hours.
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Estimated Total Annual Burden
Hours: 448,368,447 hours.
4. Title: U.S. Estate (and GenerationSkipping Transfer) Tax Return.
OMB Control Number: 1545–0531.
Type of Review: Extension without
change of a currently approved
collection.
Description: Form 706–NA is used to
compute estate and generation-skipping
transfer tax liability for nonresident
alien decedents in accordance with
section 6018 of the Internal Revenue
Code. IRS uses the information on the
form to determine the correct amount of
tax and credits.
Form: Form 706–NA.
Affected Public: Individuals or
Households.
Estimated Number of Respondents:
800.
Frequency of Response: Annually.
Estimated Total Number of Annual
Responses: 800.
Estimated Time per Response: 4
hours, 29 minutes.
Estimated Total Annual Burden
Hours: 3,584 hours.
5. Title: Chief Counsel Application—
Honors/Summer.
OMB Control Number: 1545–0796.
Type of Review: Extension without
change of a currently approved
collection.
Description: Form 6524 is used as a
screening device to evaluate an
applicant’s qualifications for
employment as an attorney with the
Office of Chief Counsel. It provides data
deemed critical for evaluating an
applicant’s qualifications such as Law
School Admission Test (LSAT) score,
bar admission status, type of work
preference, law school, and class
standing.
Form: Form 6524.
Affected Public: Individuals.
Estimated Number of Respondents:
1,000.
Frequency of Response: On occasion.
Estimated Total Number of Annual
Responses: 1,000.
Estimated Time per Response: 18
minutes.
Estimated Total Annual Burden
Hours: 300 hours.
6. Title: Information Return for
Publicly Offered Original Issue Discount
Instructions.
OMB Control Number: 1545–0887.
Type of Review: Extension without
change of a currently approved
collection.
Description: Internal Code section
1275(c)(2) requires the furnishing of
certain information to the IRS by issuers
of publicity offered debt instruments
having original issue discount.
Regulations section 1.1275–3 prescribes
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khammond on DSKJM1Z7X2PROD with NOTICES
Federal Register / Vol. 85, No. 147 / Thursday, July 30, 2020 / Notices
that Form 8281 shall be used for this
purpose. The information on Form 8281
is used to update Publication 1212, List
of Original Issue Discount Instruments.
Form: Form 8281.
Affected Public: Business or other forprofit organizations.
Estimated Number of Respondents:
2,500.
Frequency of Response: On occasion.
Estimated Total Number of Annual
Responses: 2,500.
Estimated Time per Response: 6
hours, 7 minutes.
Estimated Total Annual Burden
Hours: 15,300 hours.
7. Title: Application for Extension of
Time to File Information Returns.
OMB Control Number: 1545–1081.
Type of Review: Extension without
change of a currently approved
collection.
Description: Form 8809 is used to
request an extension of time to file
Forms W–2, W–2G, 1042–S, 1094–C,
1095, 1097, 1098, 1099, 3921, 3922,
5498, or 8027. The IRS reviews the
information contained on the form to
determine whether an extension should
be granted.
Form: Form 8809.
Affected Public: Business or other forprofit organizations, individuals or
households, not-for-profit institutions;
and State, Local or Tribal governments.
Estimated Number of Respondents:
50,000.
Frequency of Response: On occasion.
Estimated Total Number of Annual
Responses: 50,000.
Estimated Time per Response: 4
hours, 44 minutes.
Estimated Total Annual Burden
Hours: 237,000 hours.
8. Title: Information Reporting on
Transactions With Foreign Trusts and
on Large Foreign Gifts.
OMB Control Number: 1545–1538.
Type of Review: Extension without
change of a currently approved
collection.
Description: This notice provides
guidance on the foreign trust and
foreign gift information reporting
provisions contained in the Small
Business Job Protection Act of 1996.
Form: None.
Affected Public: Business or other forprofit organizations, Individuals or
Households, and Not-for-profit
institutions.
Estimated Number of Respondents:
5,000.
Frequency of Response: Annually.
Estimated Total Number of Annual
Responses: 5,000.
Estimated Time per Response: 45
minutes.
Estimated Total Annual Burden
Hours: 3,750 hours.
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9. Title: Request for Innocent Spouse
Relief.
OMB Control Number: 1545–1596.
Type of Review: Extension without
change of a currently approved
collection.
Description: Section 6013(e) of the
Internal Revenue Code allows taxpayers
to request, and IRS to grant, ‘‘innocent
spouse’’ relief when: The taxpayer files
a joint return with tax substantially
understated; the taxpayer establishes no
knowledge of, or benefit from, the
understatement; and it would be
inequitable to hold the taxpayer liable.
Forms 8857 and 8857(SP) is used to
request relief from liability of an
understatement of tax on a joint return
resulting from a grossly erroneous item
attributable to the spouse.
Form: Form 8857 and Form 8857(SP).
Affected Public: Individuals or
Households.
Estimated Number of Respondents:
50,000.
Frequency of Response: On occasion.
Estimated Total Number of Annual
Responses: 50,000.
Estimated Time per Response: 6
hours, 32 minutes.
Estimated Total Annual Burden
Hours: 316,000 hours.
10. Title: Residence of Trusts and
Estates—7701.
OMB Control Number: 1545–1600.
Type of Review: Extension without
change of a currently approved
collection.
Description: This regulation provides
the procedures and requirements for
making the election to remain a
domestic trust in accordance with
section 1161 of the Taxpayer Relief Act
of 1997. The information submitted by
taxpayers will be used by the IRS to
determine if a trust is a domestic trust
or a foreign trust.
Form: None.
Affected Public: Individuals or
Households.
Estimated Number of Respondents:
222.
Frequency of Response: On occasion.
Estimated Total Number of Annual
Responses: 222.
Estimated Time per Response: 31
minutes.
Estimated Total Annual Burden
Hours: 114 hours.
11. Title: Constructive Transfers and
Transfers of Property to a Third Party on
Behalf of a Spouse.
OMB Control Number: 1545–1751.
Type of Review: Extension of a
currently approved collection.
Description: Constructive transfers
and transfers of property to a third-party
on behalf of a spouse. The regulation
sets forth the required information that
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45957
will permit spouses or former spouses to
treat a redemption by a corporation of
stock of one spouse or former spouse as
a transfer of that stock to the other
spouse or former spouse in exchange for
the redemption proceeds and a
redemption of the stock from the latter
spouse or a former spouse in exchange
for the redemption proceeds.
Form: None.
Affected Public: Individuals or
Households, and Business or other forprofit organizations.
Estimated Number of Respondents:
1,000.
Frequency of Response: On occasion.
Estimated Total Number of Annual
Responses: 1,000.
Estimated Time per Response: 30
minutes.
Estimated Total Annual Burden
Hours: 500 hours.
12. Title: Notice of Qualified Equity
Investment for New Markets Credit.
OMB Control Number: 1545–2065.
Type of Review: Extension without
change of a currently approved
collection.
Description: Community
Development Entities (CDEs) must
provide notice to any taxpayer who
acquires a qualified equity investment
in the CDE at its original issue that the
equity investment is a qualified equity
investment entitling the taxpayer to
claim the new markets credit. Form
8874–A is used to make the notification
as required under section 1.45D–
1(g)(2)(i)(A).
Form: Form 8874–A.
Affected Public: Business or other forprofit organizations, Individuals or
Households.
Estimated Number of Respondents:
500.
Frequency of Response: Annually.
Estimated Total Number of Annual
Responses: 500.
Estimated Time per Response: 5 hour
26 minutes.
Estimated Total Annual Burden
Hours: 2,715 hours.
13. Title: Notice of Recapture Event
for New Markets Credit.
OMB Control Number: 1545–2066.
Type of Review: Extension without
change of a currently approved
collection.
Description: Community
Development Entities (CDEs) must
provide notification to any taxpayer
holder of a qualified equity investment
(including prior holders) that a
recapture event has occurred. This form
is used to make the notification as
required under Regulations section
1.45D–1(g)(2)(i)(B).
Affected Public: Individuals and
households, and Business or other forprofit organizations.
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45958
Federal Register / Vol. 85, No. 147 / Thursday, July 30, 2020 / Notices
Estimated Number of Respondents:
500.
Frequency of Response: Annually.
Estimated Total Number of Annual
Responses: 500.
Estimated Time per Response: 5
hours; 30 minutes.
Estimated Total Annual Burden
Hours: 2,755 hours.
14. Title: Relief for Certain Spouses of
Military Personnel.
OMB Control Number: 1545–2169.
Type of Review: Extension without
change of a currently approved
collection.
Description: The Military Spouses
Residency Relief Act (‘‘MSRRA’’) was
signed into law on November 11, 2009
(Pub. L. 111–97). MSRRA applies to the
2009 and subsequent tax years. This
collection provides guidance to
taxpayers who claim the benefits of the
tax provisions under MSRRA for the
2009 and subsequent tax years. These
documents provide civilian spouses
working in a U.S. territory but claiming
a tax residence in one of the 50 States
or the District of Columbia (‘‘U.S.
mainland’’) under MSRRA with an
extension of time for paying the tax due
the Internal Revenue Service (‘‘IRS’’)
(Internal Revenue Code § 6161).
Additionally, these documents provide
civilian spouses working on the U.S.
mainland but claiming a tax residence
in a U.S. territory under MSRRA with
guidance on filing claims for refund of
federal income taxes that their
employers withheld and remitted to the
IRS or estimated tax payments the
taxpayers paid to the IRS.
Affected Public: Individuals and
households.
Estimated Number of Respondents:
6,200.
Frequency of Response: Annually.
Estimated Total Number of Annual
Responses: 6,200.
Estimated Time per Response: 1 hour.
Estimated Total Annual Burden
Hours: 6,200 hours.
khammond on DSKJM1Z7X2PROD with NOTICES
(Authority: 44 U.S.C. 3501 et seq.)
Dated: July 24, 2020.
Spencer W. Clark,
Treasury PRA Clearance Officer.
[FR Doc. 2020–16480 Filed 7–29–20; 8:45 am]
BILLING CODE 4830–01–P
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DEPARTMENT OF THE TREASURY
Agency Information Collection
Activities; Submission for OMB
Review; Comment Request; Multiple
Alcohol and Tobacco Tax and Trade
Bureau 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 August 31, 2020 to be assured
of consideration.
ADDRESSES: Written comments and
recommendations for the proposed
information collection should be sent
within 30 days of publication of this
notice to www.reginfo.gov/public/do/
PRAMain. Find this particular
information collection by selecting
‘‘Currently under 30-day Review—Open
for Public Comments’’ or by using the
search function.
FOR FURTHER INFORMATION CONTACT:
Copies of the submissions may be
obtained from Molly Stasko by emailing
PRA@treasury.gov, calling (202) 622–
8922, or viewing the entire information
collection request at www.reginfo.gov.
SUPPLEMENTARY INFORMATION:
SUMMARY:
Alcohol and Tobacco Tax and Trade
Bureau (TTB)
1. Title: Principal Place of Business
Address and Place of Production Coding
on Beer and Malt Beverage Labels, TTB
REC 5130/5.
OMB Control Number: 1513–0085.
Type of Review: Extension without
change of a currently approved
collection.
Description: Under the authority of
the IRC at 26 U.S.C. 5412 and the
Federal Alcohol Administration Act
(FAA Act) at 27 U.S.C. 205(e), the TTB
regulations require consumer containers
of beer to be marked with the name and
address of the brewer. In the case of
brewers that operate multiple breweries,
the TTB regulations in 27 CFR parts 7
and 25 allow brewers to label beer
containers with their principal place of
business, provided that the brewer also
places a code on each beer container
indicating its actual place of production.
This option allows multi-plant brewers
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to use an identical, universal label at all
of their breweries. The labeling of beer
containers with the producer’s name
and place of production is a usual and
customary business practice undertaken
by brewers to identify their products to
consumers and facilitate recall of
adulterated products. In addition, TTB
uses the required information to verify
tax refund claims for the loss or
destruction of beer.
Form: None.
Affected Public: Business or other forprofit.
Estimated Number of Respondents:
430.
Frequency of Response: An average of
2.58 responses per respondent.
Estimated Total Number of Annual
Responses: 1,110.
Estimated Time per Response: None.
(Under the OMB regulations 5 CFR
1320.3(b)(2), regulatory requirements to
maintain usual and customary records
kept during the normal course of
business place no burden on
respondents as defined in the
Paperwork Reduction Act.).
Estimated Total Annual Burden
Hours: None.
2. Title: Petitions to Establish or
Modify American Viticultural Areas.
OMB Control Number: 1513–0127.
Type of Review: Extension without
change of a currently approved
collection.
Description: The FAA Act at 27 U.S.C.
205(e) authorizes the Secretary to
prescribe regulations for the labeling of
wine, distilled spirits, and malt
beverages. The FAA Act provides that
these regulations should, among other
things, prohibit consumer deception
and the use of misleading statements on
labels and ensure that labels provide the
consumer with adequate information as
to the identity and quality of the
product. Under that authority, TTB
regulates the use of appellations of
origin on wine labels, including the use
of American viticultural area (AVA)
names. In response to petitions
submitted by interested parties, TTB
establishes new AVAs or modifies
existing AVAs through the rulemaking
process. The TTB regulations in 27 CFR
part 9 specify the information to be
included in such petitions. TTB uses the
provided information to evaluate a
petitioner’s proposal and draft
rulemaking for public comment for
creating a new AVA or amending the
name, boundary, or other terms of an
existing AVA.
Form: None.
Affected Public: Business or other forprofits.
Estimated Number of Respondents:
15.
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]]>Agencies
[Federal Register Volume 85, Number 147 (Thursday, July 30, 2020)]
[Notices]
[Pages 45956-45958]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-16480]
[[Page 45956]]
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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 August 31, 2020 to be
assured of consideration.
ADDRESSES: Written comments and recommendations for the proposed
information collection should be sent within 30 days of publication of
this notice to www.reginfo.gov/public/do/PRAMain. Find this particular
information collection by selecting ``Currently under 30-day Review--
Open for Public Comments'' or by using the search function.
FOR FURTHER INFORMATION CONTACT: Copies of the submissions may be
obtained from Molly Stasko by emailing [email protected], calling (202)
622-8922, or viewing the entire information collection request at
www.reginfo.gov.
SUPPLEMENTARY INFORMATION:
Internal Revenue Service (IRS)
1. Title: Form 940, Employer's Annual Federal Unemployment (FUTA)
Tax Return.
OMB Control Number: 1545-0028.
Type of Review: Extension without change of a currently approved
collection.
Description: Internal Revenue Code Section 3301 imposes a tax on
employers based on the first $7,000 of taxable annual wages paid to
each employee. IRS uses the information reported on Forms 940 and 940-
PR (Puerto Rico) to ensure that employers have reported and figured the
correct FUTA wages and tax.
Form: Form 940, Form 940-PR.
Affected Public: Businesses or other for-profit organizations,
Individuals or Households.
Estimated Number of Respondents: 6,871,052.
Frequency of Response: Annually.
Estimated Total Number of Annual Responses: 6,836,052.
Estimated Time per Response: 26 minutes to 16 hours 17 minutes.
Estimated Total Annual Burden Hours: 105,271,229 hours.
2. Title: Returns regarding payments of interest.
OMB Control Number: 1545-0112
Type of Review: Extension without change of a currently approved
collection.
Description: Internal Revenue Code section 6049 requires payers of
interest of $10 or more to file a return showing the aggregate amount
of interest paid to a payee. Regulations sections 1.6049 4 and 1.6049 7
require Form 1099-INT to be used to report this information. IRC
section 6041 and Regulations section 1.6041 1 require persons paying
interest (that is not covered under section 6049) of $600 or more in
the course of their trades or businesses to report that interest on
Form 1099-INT. IRS uses Form 1099- INT to verify compliance with the
reporting rules and to verify that the recipient has included the
proper amount of interest on his or her income tax return.
Form: 1099-INT.
Affected Public: Businesses and other for-profit organizations,
Individuals or Households, and Not-For-Profit Institutions.
Estimated Number of Respondents: 141,555,000.
Frequency of Response: Annually.
Estimated Total Number of Annual Responses: 141,555,000.
Estimated Time per Response: 13 minutes.
Estimated Total Annual Burden Hours: 46,403,150 hours.
3. Title: Depreciation and Amortization (Including Information on
Listed Property)
OMB Control Number: 1545-0172.
Type of Review: Extension without change of a currently approved
collection.
Description: Form 4562 is used to claim a deduction for
depreciation and amortization; to make the election to expense certain
tangible property under Internal Revenue Code section 179; and to
provide information on the business/investment use of automobiles and
other listed property. The form provides the IRS with the information
necessary to determine that the correct depreciation deduction is being
claimed.
Form: Form 4562.
Affected Public: Business or other for-profit organizations.
Estimated Number of Respondents: 12,313,626.
Frequency of Response: Annually.
Estimated Total Number of Annual Responses: 12,313,626.
Estimated Time per Response: 36.41 hours.
Estimated Total Annual Burden Hours: 448,368,447 hours.
4. Title: U.S. Estate (and Generation-Skipping Transfer) Tax
Return.
OMB Control Number: 1545-0531.
Type of Review: Extension without change of a currently approved
collection.
Description: Form 706-NA is used to compute estate and generation-
skipping transfer tax liability for nonresident alien decedents in
accordance with section 6018 of the Internal Revenue Code. IRS uses the
information on the form to determine the correct amount of tax and
credits.
Form: Form 706-NA.
Affected Public: Individuals or Households.
Estimated Number of Respondents: 800.
Frequency of Response: Annually.
Estimated Total Number of Annual Responses: 800.
Estimated Time per Response: 4 hours, 29 minutes.
Estimated Total Annual Burden Hours: 3,584 hours.
5. Title: Chief Counsel Application--Honors/Summer.
OMB Control Number: 1545-0796.
Type of Review: Extension without change of a currently approved
collection.
Description: Form 6524 is used as a screening device to evaluate an
applicant's qualifications for employment as an attorney with the
Office of Chief Counsel. It provides data deemed critical for
evaluating an applicant's qualifications such as Law School Admission
Test (LSAT) score, bar admission status, type of work preference, law
school, and class standing.
Form: Form 6524.
Affected Public: Individuals.
Estimated Number of Respondents: 1,000.
Frequency of Response: On occasion.
Estimated Total Number of Annual Responses: 1,000.
Estimated Time per Response: 18 minutes.
Estimated Total Annual Burden Hours: 300 hours.
6. Title: Information Return for Publicly Offered Original Issue
Discount Instructions.
OMB Control Number: 1545-0887.
Type of Review: Extension without change of a currently approved
collection.
Description: Internal Code section 1275(c)(2) requires the
furnishing of certain information to the IRS by issuers of publicity
offered debt instruments having original issue discount. Regulations
section 1.1275-3 prescribes
[[Page 45957]]
that Form 8281 shall be used for this purpose. The information on Form
8281 is used to update Publication 1212, List of Original Issue
Discount Instruments.
Form: Form 8281.
Affected Public: Business or other for-profit organizations.
Estimated Number of Respondents: 2,500.
Frequency of Response: On occasion.
Estimated Total Number of Annual Responses: 2,500.
Estimated Time per Response: 6 hours, 7 minutes.
Estimated Total Annual Burden Hours: 15,300 hours.
7. Title: Application for Extension of Time to File Information
Returns.
OMB Control Number: 1545-1081.
Type of Review: Extension without change of a currently approved
collection.
Description: Form 8809 is used to request an extension of time to
file Forms W-2, W-2G, 1042-S, 1094-C, 1095, 1097, 1098, 1099, 3921,
3922, 5498, or 8027. The IRS reviews the information contained on the
form to determine whether an extension should be granted.
Form: Form 8809.
Affected Public: Business or other for-profit organizations,
individuals or households, not-for-profit institutions; and State,
Local or Tribal governments.
Estimated Number of Respondents: 50,000.
Frequency of Response: On occasion.
Estimated Total Number of Annual Responses: 50,000.
Estimated Time per Response: 4 hours, 44 minutes.
Estimated Total Annual Burden Hours: 237,000 hours.
8. Title: Information Reporting on Transactions With Foreign Trusts
and on Large Foreign Gifts.
OMB Control Number: 1545-1538.
Type of Review: Extension without change of a currently approved
collection.
Description: This notice provides guidance on the foreign trust and
foreign gift information reporting provisions contained in the Small
Business Job Protection Act of 1996.
Form: None.
Affected Public: Business or other for-profit organizations,
Individuals or Households, and Not-for-profit institutions.
Estimated Number of Respondents: 5,000.
Frequency of Response: Annually.
Estimated Total Number of Annual Responses: 5,000.
Estimated Time per Response: 45 minutes.
Estimated Total Annual Burden Hours: 3,750 hours.
9. Title: Request for Innocent Spouse Relief.
OMB Control Number: 1545-1596.
Type of Review: Extension without change of a currently approved
collection.
Description: Section 6013(e) of the Internal Revenue Code allows
taxpayers to request, and IRS to grant, ``innocent spouse'' relief
when: The taxpayer files a joint return with tax substantially
understated; the taxpayer establishes no knowledge of, or benefit from,
the understatement; and it would be inequitable to hold the taxpayer
liable. Forms 8857 and 8857(SP) is used to request relief from
liability of an understatement of tax on a joint return resulting from
a grossly erroneous item attributable to the spouse.
Form: Form 8857 and Form 8857(SP).
Affected Public: Individuals or Households.
Estimated Number of Respondents: 50,000.
Frequency of Response: On occasion.
Estimated Total Number of Annual Responses: 50,000.
Estimated Time per Response: 6 hours, 32 minutes.
Estimated Total Annual Burden Hours: 316,000 hours.
10. Title: Residence of Trusts and Estates--7701.
OMB Control Number: 1545-1600.
Type of Review: Extension without change of a currently approved
collection.
Description: This regulation provides the procedures and
requirements for making the election to remain a domestic trust in
accordance with section 1161 of the Taxpayer Relief Act of 1997. The
information submitted by taxpayers will be used by the IRS to determine
if a trust is a domestic trust or a foreign trust.
Form: None.
Affected Public: Individuals or Households.
Estimated Number of Respondents: 222.
Frequency of Response: On occasion.
Estimated Total Number of Annual Responses: 222.
Estimated Time per Response: 31 minutes.
Estimated Total Annual Burden Hours: 114 hours.
11. Title: Constructive Transfers and Transfers of Property to a
Third Party on Behalf of a Spouse.
OMB Control Number: 1545-1751.
Type of Review: Extension of a currently approved collection.
Description: Constructive transfers and transfers of property to a
third-party on behalf of a spouse. The regulation sets forth the
required information that will permit spouses or former spouses to
treat a redemption by a corporation of stock of one spouse or former
spouse as a transfer of that stock to the other spouse or former spouse
in exchange for the redemption proceeds and a redemption of the stock
from the latter spouse or a former spouse in exchange for the
redemption proceeds.
Form: None.
Affected Public: Individuals or Households, and Business or other
for-profit organizations.
Estimated Number of Respondents: 1,000.
Frequency of Response: On occasion.
Estimated Total Number of Annual Responses: 1,000.
Estimated Time per Response: 30 minutes.
Estimated Total Annual Burden Hours: 500 hours.
12. Title: Notice of Qualified Equity Investment for New Markets
Credit.
OMB Control Number: 1545-2065.
Type of Review: Extension without change of a currently approved
collection.
Description: Community Development Entities (CDEs) must provide
notice to any taxpayer who acquires a qualified equity investment in
the CDE at its original issue that the equity investment is a qualified
equity investment entitling the taxpayer to claim the new markets
credit. Form 8874-A is used to make the notification as required under
section 1.45D-1(g)(2)(i)(A).
Form: Form 8874-A.
Affected Public: Business or other for-profit organizations,
Individuals or Households.
Estimated Number of Respondents: 500.
Frequency of Response: Annually.
Estimated Total Number of Annual Responses: 500.
Estimated Time per Response: 5 hour 26 minutes.
Estimated Total Annual Burden Hours: 2,715 hours.
13. Title: Notice of Recapture Event for New Markets Credit.
OMB Control Number: 1545-2066.
Type of Review: Extension without change of a currently approved
collection.
Description: Community Development Entities (CDEs) must provide
notification to any taxpayer holder of a qualified equity investment
(including prior holders) that a recapture event has occurred. This
form is used to make the notification as required under Regulations
section 1.45D-1(g)(2)(i)(B).
Affected Public: Individuals and households, and Business or other
for-profit organizations.
[[Page 45958]]
Estimated Number of Respondents: 500.
Frequency of Response: Annually.
Estimated Total Number of Annual Responses: 500.
Estimated Time per Response: 5 hours; 30 minutes.
Estimated Total Annual Burden Hours: 2,755 hours.
14. Title: Relief for Certain Spouses of Military Personnel.
OMB Control Number: 1545-2169.
Type of Review: Extension without change of a currently approved
collection.
Description: The Military Spouses Residency Relief Act (``MSRRA'')
was signed into law on November 11, 2009 (Pub. L. 111-97). MSRRA
applies to the 2009 and subsequent tax years. This collection provides
guidance to taxpayers who claim the benefits of the tax provisions
under MSRRA for the 2009 and subsequent tax years. These documents
provide civilian spouses working in a U.S. territory but claiming a tax
residence in one of the 50 States or the District of Columbia (``U.S.
mainland'') under MSRRA with an extension of time for paying the tax
due the Internal Revenue Service (``IRS'') (Internal Revenue Code Sec.
6161). Additionally, these documents provide civilian spouses working
on the U.S. mainland but claiming a tax residence in a U.S. territory
under MSRRA with guidance on filing claims for refund of federal income
taxes that their employers withheld and remitted to the IRS or
estimated tax payments the taxpayers paid to the IRS.
Affected Public: Individuals and households.
Estimated Number of Respondents: 6,200.
Frequency of Response: Annually.
Estimated Total Number of Annual Responses: 6,200.
Estimated Time per Response: 1 hour.
Estimated Total Annual Burden Hours: 6,200 hours.
(Authority: 44 U.S.C. 3501 et seq.)
Dated: July 24, 2020.
Spencer W. Clark,
Treasury PRA Clearance Officer.
[FR Doc. 2020-16480 Filed 7-29-20; 8:45 am]
BILLING CODE 4830-01-P
