Proposed Extension of Information Collection Request Submitted for Public Comment; Election Out of GST Deemed Allocations, 67423-67424 [2020-23380]
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Federal Register / Vol. 85, No. 205 / Thursday, October 22, 2020 / Notices
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment
Request for IRS e-File Signature
Authorization for Forms 720, 2290 and
8879–EX
Internal Revenue Service (IRS),
Treasury.
ACTION: Notice and request for
comments.
AGENCY:
The Department of the
Treasury, as part of its continuing effort
to reduce paperwork and respondent
burden, invites the general public and
other Federal agencies to take this
opportunity to comment on proposed
and/or continuing information
collections, as required by the
Paperwork Reduction Act of 1995.
Currently, the IRS is soliciting
comments concerning Form 8879–EX,
IRS e-file Signature Authorization for
Forms 720, 2290, and 8849.
DATES: Written comments should be
received on or before December 21, 2020
to be assured of consideration.
ADDRESSES: Direct all written comments
to Kinna Brewington, Internal Revenue
Service, Room 6526, 1111 Constitution
Avenue NW, Washington, DC 20224.
FOR FURTHER INFORMATION CONTACT:
Requests for copies of the form and
instructions should be directed to
LaNita Van Dyke, at (202) 317–6009, at
Internal Revenue Service, Room 6526,
1111 Constitution Avenue NW,
Washington, DC 20224, or through the
internet, at Lanita.VanDyk@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: IRS e-file Signature
Authorization for Forms 720, 2290, and
8849.
OMB Number: 1545–2081.
Form Number: 8879–EX.
Abstract: The Form 8879–EX, IRS efile Signature Authorization for Forms
720, 2990, and 8849, will be used in the
Modernized e-File program. Form 8879–
EX authorizes an a taxpayer and an
electronic return originator (ERO) to use
a personal identification number (PIN)
to electronically sign an electronic
excise tax return and, if applicable,
authorize an electronic funds
withdrawal.
Current Actions: There are no changes
being made to the form at this time.
Type of Review: Extension of a
previously approved collection.
Affected Public: Business or other forprofit organizations.
Estimated Number of Respondents:
15,000.
Estimated Time per Respondent: 3
hours, 7 minutes.
SUMMARY:
VerDate Sep<11>2014
17:35 Oct 21, 2020
Jkt 253001
Estimated Total Annual Burden
Hours: 46,800.
The following paragraph applies to all
of the collections of information covered
by this notice:
An agency may not conduct or
sponsor, and a person is not required to
respond to, a collection of information
unless the collection of information
displays a valid OMB control number.
Books or records relating to a collection
of information must be retained as long
as their contents may become material
in the administration of any internal
revenue law. Generally, tax returns and
tax return information are confidential,
as required by 26 U.S.C. 6103.
Request for Comments: Comments
submitted in response to this notice will
be summarized and/or included in the
request for OMB approval. All
comments will become a matter of
public record. Comments are invited on:
(a) Whether the collection of
information is necessary for the proper
performance of the functions of the
agency, including whether the
information shall have practical utility;
(b) the accuracy of the agency’s estimate
of the burden of the collection of
information; (c) ways to enhance the
quality, utility, and clarity of the
information to be collected; (d) ways to
minimize the burden of the collection of
information on respondents, including
through the use of automated collection
techniques or other forms of information
technology; and (e) estimates of capital
or start-up costs and costs of operation,
maintenance, and purchase of services
to provide information.
Approved: October 18, 2020.
Chakinna B. Clemons,
Supervisory Tax Analyst.
[FR Doc. 2020–23382 Filed 10–21–20; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Extension of Information
Collection Request Submitted for
Public Comment; Election Out of GST
Deemed Allocations
Internal Revenue Service (IRS),
Treasury.
ACTION: Notice.
AGENCY:
The Internal Revenue Service
(IRS), in accordance with the Paperwork
Reduction Act of 1995 (PRA 95),
provides the general public and Federal
agencies with an opportunity to
comment on proposed and continuing
collections of information. This helps
IRS assess the impact of its information
SUMMARY:
PO 00000
Frm 00094
Fmt 4703
Sfmt 4703
67423
collection requirements and minimize
the reporting burden on the public and
helps the public understand IRS’s
information collection requirements and
provide the requested data in the
desired format. Currently, the IRS is
soliciting comments concerning the
reporting burden associated with
making the Election Out of GST Deemed
Allocations.
DATES: Written comments should be
received on or before December 21, 2020
to be assured of consideration.
ADDRESSES: Direct all written comments
to Kinna Brewington, Internal Revenue
Service, Room 6526m, 1111
Constitution Avenue NW, Washington,
DC 20224.
FOR FURTHER INFORMATION CONTACT:
Requests for additional information or
copies of the regulations should be
directed to LaNita Van Dyke, at (202)
317–6009, at Internal Revenue Service,
Room 6526, 1111 Constitution Avenue
NW, Washington DC 20224, or through
the internet, at Lanita.VanDyke@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Election Out of GST Deemed
Allocations.
OMB Number: 1545–1892.
Regulation Project Number: TD 9208.
Abstract: This information is required
by the IRS for taxpayers who elect to
have the automatic allocation rules not
apply to the current transfer and/or to
future transfers to the trust or to
terminate such election. This
information is also required by the IRS
for taxpayers who elect to treat trusts
described in section 2632(c)(3)(B)(i)
through (vi) as GST trusts or to
terminate such election. This
information will be used to identify the
trusts to which the election or
termination of election will apply.
Current Actions: This notice requests
public comment on the burden
associated with making the Election Out
of GST Deemed Allocations. The IRS
notes that an agency may not conduct or
sponsor, and a person is not required to
respond to, an information collection
unless it displays a valid OMB control
number. Books or records relating to a
collection of information must be
retained as long as their contents may
become material in the administration
of any internal revenue law. Generally,
tax returns and tax return information
are confidential, as required by 26
U.S.C. 6103.
Type of Review: Extension of a
currently approved collection.
Affected Public: Individuals or
households.
Estimated Number of Respondents:
25,000.
E:\FR\FM\22OCN1.SGM
22OCN1
67424
Federal Register / Vol. 85, No. 205 / Thursday, October 22, 2020 / Notices
Estimated Time per Respondent: 30
minutes.
Estimated Total Annual Burden
Hours: 12,500.
Desired Focus of Comments: The
Internal Revenue Service (IRS) is
particularly interested in comments
that:
• Evaluate whether the proposed
collection of information is necessary
for the proper performance of the
functions of the agency, including
whether the information will have
practical utility;
• Evaluate the accuracy of the
agency’s estimate of the burden of the
proposed collection of information,
including the validity of the
methodology and assumptions used;
• Enhance the quality, utility, and
clarity of the information to be
collected; and
• Minimize the burden of the
collection of information on those who
are to respond, including through the
use of appropriate automated,
electronic, mechanical, or other
technological collection techniques or
other forms of information technology,
e.g., by permitting electronic
submissions of responses.
Comments submitted in response to
this notice will be summarized and/or
included in the ICR for OMB approval
of the extension of the information
collection; they will also become a
matter of public record.
Approved: October 18, 2020.
Chakinna B. Clemons,
Supervisory Tax Analyst.
[FR Doc. 2020–23380 Filed 10–21–20; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment
Request for Regulation Project
Internal Revenue Service (IRS),
Treasury.
ACTION: Notice and request for
comments.
AGENCY:
The Internal Revenue Service,
as part of its continuing effort to reduce
paperwork and respondent burden,
invites the general public and other
Federal agencies to take this
opportunity to comment on proposed
and/or continuing information
collections, as required by the
Paperwork Reduction Act of 1995.
Currently, the IRS is soliciting
comments concerning existing Final
Regulation, TD 9467-Measurement of
Assets and Liabilities for Pension
SUMMARY:
VerDate Sep<11>2014
17:35 Oct 21, 2020
Jkt 253001
Funding Purposes, Pension Funding
Stabilization under the Highway and
Transportation Funding Act of 2014
(HAFTA), Notice 2020–61-Special rules
for single-employer defined benefit
pension plans under the Cares Act, and
Notice 2020–60-Election of alternative
minimum funding standards for
community newspaper plans benefit
pension plans under the Cares Act.
DATES: Written comments should be
received on or before December 21, 2020
to be assured of consideration.
ADDRESSES: Direct all written comments
to Kinna Brewington, Internal Revenue
Service, Room 6526, 1111 Constitution
Avenue NW, Washington, DC 20224.
FOR FURTHER INFORMATION CONTACT:
Requests for additional information or
copies of the regulations should be
directed to LaNita Van Dyke, at (202)
317–6009, at Internal Revenue Service,
Room 6526, 1111 Constitution Avenue
NW, Washington, DC 20224, or through
the internet at Lanita.VanDyke@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Measurement of Assets and
Liabilities for Pension Funding
Purposes.
OMB Number: 1545–2095.
Regulation Project Number: REG–
139236–07 (TD 9467).
Abstract: In order to implement the
statutory provisions under sections 430
and 436, this final regulation contains
collections of information in
§§ 1.430(f)–1(f), 1.430(h)(2)–1(e), 1.436–
1(f), and 1.436–1(h). The information
required under § 1.430(f)–1(f) is
required in order for plan sponsors to
make elections regarding a plan’s credit
balances upon occasion. The
information under § 1.430(g)–1(d)(3) is
required in order for a plan sponsor to
include as a plan asset a contribution
made to avoid a restriction under
section 436. The information required
under § 1.430(h)(2)–1(e) is required in
order for a plan sponsor to make an
election to use an alternative interest
rate for purposes of determining a plan’s
funding obligations under § 1.430(h)(2)–
1. The information required under
§§ 1.436–1(f) and 1.436–1(h) is required
in order for a qualified defined benefit
plan’s enrolled actuary to provide a
timely certification of the plan’s
adjusted funding target attainment
percentage (AFTAP) for each plan year
to avoid certain benefit restrictions.
The Highway and Transportation
Funding Act of 2014 (HATFA), Public
Law 113–159, was enacted on August 8,
2014, and was effective retroactively for
single employer defined benefit pension
plans, optional for plan years beginning
in 2013 and mandatory for plan years
beginning in 2014.
PO 00000
Frm 00095
Fmt 4703
Sfmt 4703
Section 3608(b) of the Coronavirus
Aid, Relief, and Economic Security Act
(CARES Act), Public Law 116–136
provides that for purposes of applying
§ 436 of the Code (and § 206(g) of
ERISA), a sponsor of a single-employer
defined benefit pension plan may elect
to treat the plan’s adjusted funding
target attainment percentage (AFTAP)
for the last plan year ending before
January 1, 2020, as the AFTAP for plan
years that include calendar year 2020.
Notice 2020–61, in part, provides
guidance on the rules relating to this
election.
Section 115(a) of the Setting Every
Community Up for Retirement
Enhancement Act of 2019 (SECURE
Act), Division O of the Further
Consolidated Appropriations Act, 2020,
Public Law 116–94, added new § 430(m)
to the Code to permit the plan sponsor
of a community newspaper plan under
which no participant has had an
increase in accrued benefit after
December 31, 2017 to elect to have
alternative minimum funding standards
apply to the plan in lieu of the
minimum funding requirements that
would otherwise apply under § 430.
Pursuant to § 430(m)(2), any election
under § 430(m) will be made at such
time and in such manner as prescribed
by the Secretary, and once an election
is made with respect to a plan year, it
will apply to all subsequent plan years
unless revoked with the consent of the
Secretary. Notice 2020–60 provides
guidance regarding this election.
Current Actions: There are changes to
the collection.
Type of Review: Revisions to a
currently approved collection.
Affected Public: Individuals, business
or other for-profit organizations, not-forprofit institutions and Federal, state,
local or tribal governments.
TD 9467
Estimated Number of Respondents:
80,000.
Estimated Time per Respondent: 1.5
hrs.
Estimated Total Annual Burden
Hours: 120,000.
Notice: 2020–60.
Estimated Number of Respondents:
1,000.
Estimated Time per Respondent: 1 hr.
Estimated Total Annual Burden
Hours: 1,000.
Notice 2020–61.
Estimated Number of Respondents:
20.
Estimated Time per Respondent: 4 hr.
Estimated Total Annual Burden
Hours: 80.
The following paragraph applies to all
of the collections of information covered
by this notice:
E:\FR\FM\22OCN1.SGM
22OCN1
]]>Agencies
[Federal Register Volume 85, Number 205 (Thursday, October 22, 2020)]
[Notices]
[Pages 67423-67424]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-23380]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Extension of Information Collection Request Submitted
for Public Comment; Election Out of GST Deemed Allocations
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Notice.
-----------------------------------------------------------------------
SUMMARY: The Internal Revenue Service (IRS), in accordance with the
Paperwork Reduction Act of 1995 (PRA 95), provides the general public
and Federal agencies with an opportunity to comment on proposed and
continuing collections of information. This helps IRS assess the impact
of its information collection requirements and minimize the reporting
burden on the public and helps the public understand IRS's information
collection requirements and provide the requested data in the desired
format. Currently, the IRS is soliciting comments concerning the
reporting burden associated with making the Election Out of GST Deemed
Allocations.
DATES: Written comments should be received on or before December 21,
2020 to be assured of consideration.
ADDRESSES: Direct all written comments to Kinna Brewington, Internal
Revenue Service, Room 6526m, 1111 Constitution Avenue NW, Washington,
DC 20224.
FOR FURTHER INFORMATION CONTACT: Requests for additional information or
copies of the regulations should be directed to LaNita Van Dyke, at
(202) 317-6009, at Internal Revenue Service, Room 6526, 1111
Constitution Avenue NW, Washington DC 20224, or through the internet,
at [email protected].
SUPPLEMENTARY INFORMATION:
Title: Election Out of GST Deemed Allocations.
OMB Number: 1545-1892.
Regulation Project Number: TD 9208.
Abstract: This information is required by the IRS for taxpayers who
elect to have the automatic allocation rules not apply to the current
transfer and/or to future transfers to the trust or to terminate such
election. This information is also required by the IRS for taxpayers
who elect to treat trusts described in section 2632(c)(3)(B)(i) through
(vi) as GST trusts or to terminate such election. This information will
be used to identify the trusts to which the election or termination of
election will apply.
Current Actions: This notice requests public comment on the burden
associated with making the Election Out of GST Deemed Allocations. The
IRS notes that an agency may not conduct or sponsor, and a person is
not required to respond to, an information collection unless it
displays a valid OMB control number. Books or records relating to a
collection of information must be retained as long as their contents
may become material in the administration of any internal revenue law.
Generally, tax returns and tax return information are confidential, as
required by 26 U.S.C. 6103.
Type of Review: Extension of a currently approved collection.
Affected Public: Individuals or households.
Estimated Number of Respondents: 25,000.
[[Page 67424]]
Estimated Time per Respondent: 30 minutes.
Estimated Total Annual Burden Hours: 12,500.
Desired Focus of Comments: The Internal Revenue Service (IRS) is
particularly interested in comments that:
Evaluate whether the proposed collection of information is
necessary for the proper performance of the functions of the agency,
including whether the information will have practical utility;
Evaluate the accuracy of the agency's estimate of the
burden of the proposed collection of information, including the
validity of the methodology and assumptions used;
Enhance the quality, utility, and clarity of the
information to be collected; and
Minimize the burden of the collection of information on
those who are to respond, including through the use of appropriate
automated, electronic, mechanical, or other technological collection
techniques or other forms of information technology, e.g., by
permitting electronic submissions of responses.
Comments submitted in response to this notice will be summarized
and/or included in the ICR for OMB approval of the extension of the
information collection; they will also become a matter of public
record.
Approved: October 18, 2020.
Chakinna B. Clemons,
Supervisory Tax Analyst.
[FR Doc. 2020-23380 Filed 10-21-20; 8:45 am]
BILLING CODE 4830-01-P
