Proposed Extension of Information Collection Request Submitted for Public Comment; Comment Request on Burden Related to Mortgage Credit Certificates (MCCs), 77340-77341 [2020-26456]
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77340
Federal Register / Vol. 85, No. 231 / Tuesday, December 1, 2020 / Notices
The Internal Revenue Service,
as part of its continuing effort to reduce
paperwork and respondent burden,
invites the 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 the
burden associated with Form 5308,
Request for Change in Plan/Trust Year.
DATES: Written comments should be
received on or before February 1, 2021
to be assured of consideration.
ADDRESSES: Direct all written comments
to Kinna Brewington, Internal Revenue
Service, Room 6529, 1111 Constitution
Avenue NW, Washington, DC 20224.
Requests for additional information or
copies of the regulations should be
directed to Ronald J. Durbala, at Internal
Revenue Service, Room 6129, 1111
Constitution Avenue NW, Washington,
DC 20224, or through the internet, at
RJoseph.Durbala@irs.gov.
SUPPLEMENTARY INFORMATION: Title:
Request for Change in Plan/Trust Year
(Form 5308).
OMB Number: 1545–0201.
Regulation Project Number: Form
5308.
Abstract: Form 5308 is used to request
permission to change the plan or trust
year for a pension benefit plan. The
information submitted is used in
determining whether IRS should grant
permission for the change.
Current Actions: There are no changes
to the burden previously approved by
OMB. This submission is for renewal
purposes.
Type of Review: Extension of a
currently approved collection.
Affected Public: Business or other forprofit organizations.
Estimated Number of Respondents:
20.
Estimated Time per Respondent: 42
min.
Estimated Total Annual Burden
Hours: 14.
The following paragraph applies to all
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 if 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.
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SUMMARY:
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18:11 Nov 30, 2020
Jkt 253001
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 using
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: November 24, 2020.
Ronald J. Durbala,
IRS Tax Analyst.
[FR Doc. 2020–26392 Filed 11–30–20; 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; Comment Request
on Burden Related to Mortgage Credit
Certificates (MCCs)
Internal Revenue Service (IRS),
Treasury.
AGENCY:
Notice and request for
comments.
ACTION:
The Internal Revenue Service,
as part of its continuing effort to reduce
paperwork and respondent burden,
invites the 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 the
application process for determination of
employee stock ownership plans.
SUMMARY:
PO 00000
Frm 00202
Fmt 4703
Sfmt 4703
Written comments should be
received on or before February 1, 2021
to be assured of consideration.
ADDRESSES: Direct all written comments
to Kinna Brewington, Internal Revenue
Service, Room 6529, 1111 Constitution
Avenue NW, Washington, DC 20224.
Requests for additional information or
copies of the regulations should be
directed to R. Joseph Durbala, at Internal
Revenue Service, Room 6129, 1111
Constitution Avenue NW, Washington,
DC 20224, or through the internet, at
RJoseph.Durbala@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Mortgage Credit Certificates
(MCCs).
OMB Number: 1545–0922.
Regulation Project Number: Form
8329 and Form 8330.
Abstract: Mortgage Credit Certificates
provide qualified holders of the
certificates with a credit against income
tax liability. In general, an Issuer elects
to establish a mortgage credit certificate
program in lieu of issuing qualified
mortgage revenue bonds. Section 25 of
the Code permits states and political
subdivisions to elect to issue Mortgage
Credit Certificates in lieu of qualified
mortgage revenue bonds. Form 8329 is
used by lending institutions and Form
8330 is used by state and local
governments to provide the IRS with
information on the issuance of mortgage
credit certificates (MCCs) authorized
under Internal Revenue Code section 25.
IRS matches the information supplied
by lenders and issuers to ensure that the
credit is computed properly.
Current Actions: There is no change to
the burden previously approved.
Type of Review: Extension of a
currently approved collection.
Affected Public: Business or other forprofit organizations.
Estimated Number of Respondents:
Form 8329—10,000; Form 8330—2,000.
Estimated Time per Respondent:
Form 8329—5 hrs. 53 min.; Form
8330—7 hrs. 28 min.
Estimated Total Annual Burden
Hours: Form 8329—58,800; Form
8330—14,920.
The following paragraph applies to all
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 if their contents may become
material in the administration of any
internal revenue law. Generally, tax
returns and tax return information are
DATES:
E:\FR\FM\01DEN1.SGM
01DEN1
Federal Register / Vol. 85, No. 231 / Tuesday, December 1, 2020 / Notices
confidential, as required by 26 U.S.C.
6103.
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 using
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: November 25, 2020.
Ronald J. Durbala,
IRS Tax Analyst.
[FR Doc. 2020–26456 Filed 11–30–20; 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; Comment Request
on Burden Related to Form CT–1 and
CT–1 X
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 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 the
burden associated with Form CT–1,
Employer’s Annual Railroad Retirement
khammond on DSKJM1Z7X2PROD with NOTICES4
SUMMARY:
VerDate Sep<11>2014
18:11 Nov 30, 2020
Jkt 253001
Tax Return and Form CT–1 X, Adjusted
Employer’s Annual Railroad Retirement
Tax Return or Claim for Refund.
DATES: Written comments should be
received on or before February 1, 2021
to be assured of consideration.
ADDRESSES: Direct all written comments
to Kinna Brewington, Internal Revenue
Service, Room 6529, 1111 Constitution
Avenue NW, Washington, DC 20224.
Requests for additional information or
copies of the regulations should be
directed to Ronald J. Durbala, at Internal
Revenue Service, Room 6129, 1111
Constitution Avenue NW, Washington
DC 20224, or through the internet, at
RJoseph.Durbala@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Railroad Retirement Tax Act
(Form CT–1 and CT–1X).
OMB Number: 1545–0001.
Regulation Project Number: Form CT–
1 and Form CT–1 X.
Abstract: Railroad employers are
required to file an annual return to
report employer and employee Railroad
Retirement Tax Act (RRTA) taxes. Form
CT–1 is used for this purpose. The IRS
uses the information to ensure that the
employer has paid the correct tax. Form
CT–1X is used to correct previously
filed Forms CT–1.
Current Actions: We have
significantly revised the 2020 Form CT–
1 to allow for the reporting of new
employment tax credits and the deferral
of deposit and payment of certain taxes
from the following provisions.
• Public Law 116–127: Section 7001,
Payroll credit for required paid sick
leave; Section 7003, Payroll credit for
required family leave; and Section 7005,
Wages paid by reason of the Emergency
Paid Sick Leave Act and the Emergency
Family and Medical Leave Expansion
Act not considered compensation under
section 3221(a)
• Public Law 116–136: Section 2301
Employee Retention Credit; and Section
2302, Delay of payment for employer
payroll taxes.
The changes to Form CT–1 will result
in an estimated burden increase of 5,985
hours. This submission is for renewal
purposes.
Type of Review: Revision of a
currently approved collection.
Affected Public: Businesses or other
for-profit organizations, not-for-profit
institutions, and state, local or tribal
governments.
Estimated Number of Respondents:
2,400.
Estimated Time per Respondent: 18
hrs., 56 min.
Estimated Total Annual Burden
Hours: 45,440.
PO 00000
Frm 00203
Fmt 4703
Sfmt 4703
77341
The following paragraph applies to all
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 if 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.
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 using
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: November 24, 2020.
Ronald J. Durbala,
IRS Tax Analyst.
[FR Doc. 2020–26393 Filed 11–30–20; 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; Comment Request
on Burden Related to Form 2678
Internal Revenue Service (IRS),
Treasury.
ACTION: Notice and request for
comments.
AGENCY:
E:\FR\FM\01DEN1.SGM
01DEN1
]]>Agencies
[Federal Register Volume 85, Number 231 (Tuesday, December 1, 2020)]
[Notices]
[Pages 77340-77341]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-26456]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Extension of Information Collection Request Submitted
for Public Comment; Comment Request on Burden Related to Mortgage
Credit Certificates (MCCs)
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Notice and request for comments.
-----------------------------------------------------------------------
SUMMARY: The Internal Revenue Service, as part of its continuing effort
to reduce paperwork and respondent burden, invites the 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 the application process for determination of employee stock
ownership plans.
DATES: Written comments should be received on or before February 1,
2021 to be assured of consideration.
ADDRESSES: Direct all written comments to Kinna Brewington, Internal
Revenue Service, Room 6529, 1111 Constitution Avenue NW, Washington, DC
20224. Requests for additional information or copies of the regulations
should be directed to R. Joseph Durbala, at Internal Revenue Service,
Room 6129, 1111 Constitution Avenue NW, Washington, DC 20224, or
through the internet, at [email protected].
SUPPLEMENTARY INFORMATION:
Title: Mortgage Credit Certificates (MCCs).
OMB Number: 1545-0922.
Regulation Project Number: Form 8329 and Form 8330.
Abstract: Mortgage Credit Certificates provide qualified holders of
the certificates with a credit against income tax liability. In
general, an Issuer elects to establish a mortgage credit certificate
program in lieu of issuing qualified mortgage revenue bonds. Section 25
of the Code permits states and political subdivisions to elect to issue
Mortgage Credit Certificates in lieu of qualified mortgage revenue
bonds. Form 8329 is used by lending institutions and Form 8330 is used
by state and local governments to provide the IRS with information on
the issuance of mortgage credit certificates (MCCs) authorized under
Internal Revenue Code section 25. IRS matches the information supplied
by lenders and issuers to ensure that the credit is computed properly.
Current Actions: There is no change to the burden previously
approved.
Type of Review: Extension of a currently approved collection.
Affected Public: Business or other for-profit organizations.
Estimated Number of Respondents: Form 8329--10,000; Form 8330--
2,000.
Estimated Time per Respondent: Form 8329--5 hrs. 53 min.; Form
8330--7 hrs. 28 min.
Estimated Total Annual Burden Hours: Form 8329--58,800; Form 8330--
14,920.
The following paragraph applies to all 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 if their contents may become material in the administration of
any internal revenue law. Generally, tax returns and tax return
information are
[[Page 77341]]
confidential, as required by 26 U.S.C. 6103.
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 using 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: November 25, 2020.
Ronald J. Durbala,
IRS Tax Analyst.
[FR Doc. 2020-26456 Filed 11-30-20; 8:45 am]
BILLING CODE 4830-01-P
