Agency Information Collection Activities; Submission for OMB Review; Comment Request; Multiple Internal Revenue Service Information Collection Requests, 68415-68417 [2020-23792]

Agencies

• DEPARTMENT OF THE TREASURY

[Federal Register Volume 85, Number 209 (Wednesday, October 28, 2020)]
[Notices]
[Pages 68415-68417]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-23792]


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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.

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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 November 27, 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: United States Estate (and Generation-Skipping Transfer) 
Tax Return.
    OMB Control Number: 1545-0015.
    Type of Review: Revision of a currently approved collection.
    Description: Form 706 is used by executors to report and compute 
the Federal estate tax imposed by Internal Revenue Code section 2001 
and the Federal generation-skipping transfer (GST) tax imposed by Code 
section 2601. The IRS uses the information on the form to enforce the 
estate and GST tax provisions of the Code and to verify that the taxes 
have been properly computed. Schedule R-1 (Form 706) serves as a 
payment voucher for the Generation-Skipping Transfer (GST) tax imposed 
on a direct skip from a trust, which the trustee of the trust, must 
pay.
    Form: IRS Form 706 and Schedule R-1.
    Affected Public: Individuals or Households; and Businesses or other 
for-profit organizations.
    Estimated Number of Respondents: 30,729.
    Frequency of Response: Annually.
    Estimated Total Number of Annual Responses: 30,729.
    Estimated Time per Response: 36 hours, 30 minutes.
    Estimated Total Annual Burden Hours: 1,121,903 hours.
    2. Title: Employer's Annual Tax Return for Agricultural Employees.
    OMB Control Number: 1545-0035.
    Type of Review: Revision of a currently approved collection.
    Description: Agricultural employers must prepare and file Form 943 
and Form 943-PR (Puerto Rico only) to report and pay FICA taxes and 
income tax voluntarily withheld (Form 943 only). Agricultural employees 
may attach Forms 943-A and 943A-PR to Forms 943 and 943-PR to show 
their tax liabilities for semiweekly periods. The information is used 
to verify that the correct tax has been paid. Form 943 (Schedule R) 
allows (1) an agent appointed by an employer or payer or (2) a customer 
who enters into a contract that meets the requirements under 7705(e)(2) 
or (3) a client who enters into a service agreement described under 
Regulations section 31.3504-2(b)(2) with a Certified Professional 
Employer Organization, to allocate information reported on Form 943 to 
each client.
    Form: IRS Form 943, IRS Form 943-PR, IRS Form 943-A, IRS Form 943A-
PR, IRS Form 943 X, IRS Form 943X-PR, and IRS Form 943-Schedule R.
    Affected Public: Businesses or other for-profit organizations.
    Estimated Number of Respondents: 965,698.
    Frequency of Response: Annually.
    Estimated Total Number of Annual Responses: 965,698.
    Estimated Time per Response: 12 hours, 53 minutes.
    Estimated Total Annual Burden Hours: 12,440,285 hours.
    3. Title: Foreign Tax Credit (Individual, Estate, or Trust).
    OMB Control Number: 1545-0121.
    Type of Review: Extension of a currently approved collection.
    Description: Form 1116 is used by individuals (including 
nonresident aliens), estates, or trusts who paid foreign income taxes 
on U.S. taxable income, to compute the foreign tax credit. This 
information is used by the IRS to determine if the foreign tax credit 
is properly computed.
    Form: IRS Form 1116.
    Affected Public: Individuals or Households.
    Estimated Number of Respondents: 4,143,255.
    Frequency of Response: Annually.
    Estimated Total Number of Annual Responses: 4,143,255.
    Estimated Time per Response: 6.05 hours.
    Estimated Total Annual Burden Hours: 25,066,693 hours.
    4. Title: Representation of taxpayers before the Internal Revenue 
Service.
    OMB Control Number: 1545-0150.
    Type of Review: Extension of a currently approved collection.
    Description: Form 2848 or Form 2848(SP) is issued to authorize 
someone to act for the taxpayer in tax matters. It grants all powers 
that the taxpayer has except signing a return and cashing refund 
checks. The information on the form is used to identify representatives 
and to ensure that confidential information is not divulged to 
unauthorized persons.
    Form: IRS Form 2848 and IRS Form 2848-SP.
    Affected Public: Individuals or Households; Not-for-profit 
institutions, Businesses or other for-profit institutions.
    Estimated Number of Respondents: 458,333 (2848), 80,000 (2848-SP).
    Frequency of Response: On occasion.

[[Page 68416]]

    Estimated Total Number of Annual Responses: 458,333 (2848), 80,000 
(2848-SP).
    Estimated Time per Response: 1.99 hours (2848), 2.26 hours (2848-
SP).
    Estimated Total Annual Burden Hours: 1,092,883 hours.
    5. Title: Employee Plans Determination Letter Program.
    OMB Control Number: 1545-0197.
    Type of Review: Extension of a currently approved collection.
    Description: Internal Revenue Code sections 401(a) and 501(a) set 
out requirements for qualification of employee benefit trusts and the 
tax-exempt status of these trusts. Form 5300 is used to request a 
determination letter from the IRS for the qualification of a defined 
benefit or a defined contribution plan and the exempt status of any 
related trust.
    Form: IRS Form 5300.
    Affected Public: Individuals or Households; Businesses or other 
for-profit institutions.
    Estimated Number of Respondents: 85,000.
    Frequency of Response: On Occasion.
    Estimated Total Number of Annual Responses: 85,000.
    Estimated Time per Response: 84 hours, 43 minutes.
    Estimated Total Annual Burden Hours: 7,201,200 hours.
    6. Title: Application for Determination for Adopters of Modified 
Volume Submitter Plans.
    OMB Control Number: 1545-0200.
    Type of Review: Extension of a currently approved collection.
    Description: This form is filed by employers or plan administrators 
who have adopted a prototype plan approved by the IRS National Office 
or a regional prototype plan approved by the IRS District Director to 
obtain a ruling that the plan adopted is qualified under IRC sections 
401(a) and 501(a). It may not be used to request a letter for a 
multiple employer plan.
    Form: IRS Form 5307.
    Affected Public: Businesses or other for-profit institutions.
    Estimated Number of Respondents: 100,000.
    Frequency of Response: On Occasion.
    Estimated Total Number of Annual Responses: 100,000.
    Estimated Time per Response: 15 hours, 23 minutes.
    Estimated Total Annual Burden Hours: 5,139,000 hours.
    7. Title: Statements to recipients of dividend payments.
    OMB Control Number: 1545-0747.
    Type of Review: Extension of a currently approved collection.
    Description: Form 5498 is used by trustees and issuers to report 
contributions to, and the fair market value of, an individual 
retirement arrangement (IRA). The information on the form will be used 
by IRS to verify compliance with the reporting rules under regulation 
section 1.408-5 and to verify that the participant in the IRA has made 
the contribution that supports the deduction taken.
    Form: IRS Form 5498.
    Affected Public: Businesses or other for-profit institutions.
    Estimated Number of Respondents: 118,858,000.
    Frequency of Response: Annually.
    Estimated Total Number of Annual Responses: 118,858,000.
    Estimated Time per Response: 24 minutes.
    Estimated Total Annual Burden Hours: 48,731,780 hours.
    8. Title: Estimated Income Tax for Estates and Trusts.
    OMB Control Number: 1545-0971.
    Type of Review: Extension of a currently approved collection.
    Description: Internal Revenue Code section 6654(1) imposes a 
penalty on trusts, and in certain circumstances, a decedent's estate, 
for underpayment of estimated tax. Form 1041-ES is used by the 
fiduciary to make the estimated tax payments. The form provides the IRS 
with information to give estates and trusts proper credit for estimated 
tax payments. For first-time filers, the form is available in an Over 
The Counter (OTC) version at IRS offices. For previous filers, the form 
is sent to them by the IRS with preprinted vouchers in the Optical 
Character Resolution (OCR) version.
    Form: IRS Form 1041-ES.
    Affected Public: Individuals or Households; Businesses or other 
for-profit institutions.
    Estimated Number of Respondents: 582,024.
    Frequency of Response: Annually.
    Estimated Total Number of Annual Responses: 582,024.
    Estimated Time per Response: 3 hours, 18 minutes.
    Estimated Total Annual Burden Hours: 1,914,859 hours.
    9. Title: Reporting Agent Authorization.
    OMB Control Number: 1545-1058.
    Type of Review: Extension of a currently approved collection.
    Description: Form 8655 allows a taxpayer to designate a reporting 
agent to file certain employment tax returns electronically or on 
magnetic tape, to receive copies of notices and other tax information, 
and to submit Federal tax deposits. This form allows IRS to disclose 
tax account information and to provide duplicate copies of taxpayer 
correspondence to authorized agents. Revenue Procedure 2012-32 provides 
the requirements for completing and submitting Form 8655, Reporting 
Agent Authorization. An Authorization allows a taxpayer to designate a 
Reporting Agent to perform certain acts on behalf of a taxpayer.
    Form: IRS Form 8655 and Revenue Procedure 2012-32.
    Affected Public: Businesses or other for-profit institutions.
    Estimated Number of Respondents: 114,250.
    Frequency of Response: On Occasion.
    Estimated Total Number of Annual Responses: 114,250.
    Estimated Time per Response: 7 hours, 10 minutes.
    Estimated Total Annual Burden Hours: 819,050 hours.
    10. Title: Consent To Extend the Time To Assess Tax Under Section 
367--Gain Recognition Agreement.
    OMB Control Number: 1545-1395.
    Type of Review: Extension of a currently approved collection.
    Description: Form 8838 is used to extend the statute of limitations 
for U.S. persons who transfer stock or securities to a foreign 
corporation. The form is filed when the transferor makes a gain 
recognition agreement. This agreement allows the transferor to defer 
the payment of tax on the transfer. The IRS uses Form 8838 so that it 
may assess tax against the transferor after the expiration of the 
original statute of limitations.
    Form: IRS Form 8838.
    Affected Public: Individuals or Households; Businesses or other 
for-profit institutions.
    Estimated Number of Respondents: 666.
    Frequency of Response: Annually.
    Estimated Total Number of Annual Responses: 666.
    Estimated Time per Response: 8 hours, 14 minutes.
    Estimated Total Annual Burden Hours: 5,482 hours.
    11. Title: Guidance on Cost Recovery Under the Income Forecast 
Method.
    OMB Control Number: 1545-1622.
    Type of Review: Extension of a currently approved collection.
    Description: Taxpayers depreciating property under the income 
forecast method and placed in service after September 13, 1995, must 
use Form 8866 to compute and report interest due or to be refunded 
under Internal Revenue Code 167(g)(2). The Internal Revenue Service 
uses the information on Form 8866 to determine if the interest has been 
figured correctly.
    Form: IRS Form 8866.

[[Page 68417]]

    Affected Public: Individuals or Households; Businesses or other 
for-profit institutions.
    Estimated Number of Respondents: 3,300.
    Frequency of Response: Annually.
    Estimated Total Number of Annual Responses: 3,300.
    Estimated Time per Response: 13 hours, 51 minutes.
    Estimated Total Annual Burden Hours: 45,738 hours.
    12. Title: Communications Excise Tax; Prepaid Telephone Cards.
    OMB Control Number: 1545-1628.
    Type of Review: Extension of a currently approved collection.
    Description: Carriers must keep certain information documenting 
their sales of prepaid telephone cards to other carriers to avoid 
responsibility for collecting tax. The regulations provide rules for 
the application of the communications excise tax to prepaid telephone 
cards.
    Regulation Project Number: TD 8855.
    Affected Public: Businesses or other for-profit institutions.
    Estimated Number of Respondents: 96.
    Frequency of Response: On Occasion.
    Estimated Total Number of Annual Responses: 96.
    Estimated Time per Response: 21 minutes.
    Estimated Total Annual Burden Hours: 34 hours.
    13. Title: Disclosure of Returns and Return Information in 
Connection With Written Contracts or Agreements for the Acquisition of 
Property or Services for Tax Administration Purposes.
    OMB Control Number: 1545-1821.
    Type of Review: Extension of a currently approved collection.
    Description: The regulations clarify that redisclosures of returns 
and return information by contractors to agents or subcontractors are 
permissible, and that the penalty provisions, written notification 
requirements, and safeguard requirements are applicable to these agents 
and subcontractors. Section 301.6103(n)-1(e)(3) of the regulations 
require that before the execution of a contract or agreement for the 
acquisition of property or services under which returns or return 
information will be disclosed, the contract or agreement must be made 
available to the IRS.
    Regulation Project Number: TD 9327.
    Affected Public: Individuals or Households; Businesses or other 
for-profit institutions; and Not-for-profit institutions.
    Estimated Number of Respondents: 2,500.
    Frequency of Response: Annually.
    Estimated Total Number of Annual Responses: 2,500.
    Estimated Time per Response: 6 minutes.
    Estimated Total Annual Burden Hours: 250 hours.
    14. Title: Relief from Ruling Process for Making Late Reverse QTIP 
Election.
    OMB Control Number: 1545-1898.
    Type of Review: Extension of currently approved collection.
    Description: Revenue Procedure 2004-47 provides alternative relief 
for taxpayers who failed to make a reverse QTIP election on an estate 
tax return. Instead of requesting a private letter ruling and paying 
the accompanying user fee the taxpayer may file certain documents with 
the Cincinnati Service Center directly to request relief.
    Revenue Procedure Number: Revenue Procedure 2004-47.
    Affected Public: Individuals or Households.
    Estimated Number of Respondents: 6.
    Frequency of Response: Once.
    Estimated Total Number of Annual Responses: 6.
    Estimated Time per Response: 9 hours.
    Estimated Total Annual Burden Hours: 54 hours.
    15. Title: Discharge of Property from the Effect of the Tax Lien.
    OMB Control Number: 1545-2174.
    Type of Review: Extension of a currently approved collection.
    Description: The collection of information is required by 26 CFR 
301.6325-1(b)(5) for consideration of the United States discharging 
property from the federal tax lien and is required by 26 CFR 301.6325-
1(d)(4) for consideration that the United States subordinate its 
interest in property. The information is investigated by Collection 
personnel in order that the appropriate official may ascertain the 
accuracy of the application and decide whether to issue a discharge or 
subordination.
    Form: IRS Form 14134 and IRS Form 14135.
    Affected Public: Individuals or Households; Not-for-profit 
institutions, Businesses or other for-profit institutions; Federal, 
State, Local or Tribal Governments.
    Estimated Number of Respondents: 10,362.
    Frequency of Response: On Occasion.
    Estimated Total Number of Annual Responses: 10,362.
    Estimated Time per Response: 2 hours, 11 minutes.
    Estimated Total Annual Burden Hours: 22,665 hours.
    16. Title: Affordable Care Act Notice of Rescissions.
    OMB Control Number: 1545-2180.
    Type of Review: Extension of a currently approved collection.
    Description: This document contains final regulations regarding 
grandfathered health plans, preexisting condition exclusions, lifetime 
and annual dollar limits on benefits, rescissions, coverage of 
dependent children to age 26, internal claims and appeal and external 
review processes, and patient protections under the Affordable Care 
Act.
    Regulation Project Number: TD 9744.
    Affected Public: Businesses or other for-profit institutions.
    Estimated Number of Respondents: 1,533.
    Frequency of Response: Annually.
    Estimated Total Number of Annual Responses: 1,533.
    Estimated Time per Response: 1 minute.
    Estimated Total Annual Burden Hours: 20 hours.

(Authority: 44 U.S.C. 3501 et seq.)

    Dated: October 22, 2020.
Molly Stasko,
Treasury PRA Clearance Officer.
[FR Doc. 2020-23792 Filed 10-27-20; 8:45 am]
BILLING CODE 4830-01-P