Proposed Collection; Comment Request for Regulation Project, 10000-10001 [2021-03128]

Download as PDF 10000 Federal Register / Vol. 86, No. 30 / Wednesday, February 17, 2021 / Notices 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: February 3, 2021. Sara L. Covington, IRS Tax Analyst. [FR Doc. 2021–03138 Filed 2–16–21; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Form 1041–A 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 continuing information collections, as required by the Paperwork Reduction Act of 1995. The IRS is soliciting comments concerning U.S. information return-trust accumulation of charitable amounts. DATES: Written comments should be received on or before April 19, 2021 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 information or copies of the form and instructions should be directed to Sara Covington (737)800– 6149, at Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC 20224, or through the internet at Sara.L.Covington@irs.gov. SUPPLEMENTARY INFORMATION: Title: U.S. Information Return-Trust Accumulation of Charitable Amounts. OMB Number: 1545–0094. Form Number: 1041–A. Abstract: Form 1041–A is used to report the information required in Internal Revenue Code section 6034 concerning accumulation and distribution of charitable amounts. The data is used to verify the amounts for which a charitable deduction was allowed are used for charitable purposes. Current Actions: There are changes (reduction in filers) in the paperwork burden previously approved by OMB. jbell on DSKJLSW7X2PROD with NOTICES SUMMARY: VerDate Sep<11>2014 20:43 Feb 16, 2021 Jkt 253001 The Tax Cuts and Jobs Act of 2017 (Pub. L. 115–97) amended section 641(c)(2). As a result, Electing Small Business Trusts (ESBTs)are no longer subject to the charitable information reporting requirements under section 6034 and do not file Form 1041–A. This form is being submitted for renewal purposes only. Type of Review: Extension of a currently approved collection. Affected Public: Businesses or other for-profit organizations, and individuals. Estimated Number of Respondents: 6,700. Estimated Time per Respondent: 36 hrs, 40 minutes. Estimated Total Annual Burden Hours: 245,622. 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: January 27, 2021. Sara L. Covington, IRS Tax Analyst. [FR Doc. 2021–03129 Filed 2–16–21; 8:45 am] BILLING CODE 4830–01–P PO 00000 Frm 00096 Fmt 4703 Sfmt 4703 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 (IRS), 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 information collections, as required by the Paperwork Reduction Act of 1995. The IRS is soliciting comments concerning product liability losses and accumulations for product liability losses. DATES: Written comments should be received on or before April 19, 2021 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 regulation should be directed to Martha R. Brinson, at (202) 317–5753, or at Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC 20224, or through the internet at Martha.R.Brinson@irs.gov. SUPPLEMENTARY INFORMATION: Title: Product Liability Losses and Accumulations for Product Liability Losses. OMB Number: 1545–0863. Regulation Project Number: TD 8096. Abstract: T.D. 8096 provides final regulations relating to product liability losses and accumulations for the payment of reasonable anticipated product liability losses. Changes to the applicable tax law were made by the Revenue Act of 1978. Generally, a taxpayer who sustains a product liability loss must carry the loss back 10 years. However, a taxpayer may elect to have such loss treated as a regular net operating loss under section 172. If desired, such election is made by attaching a statement to the tax return. This statement will enable the IRS to monitor compliance with the statutory requirements. Current Actions: There are no changes being made to this regulation. Type of Review: Extension of a currently approved collection. Affected Public: Business or other forprofit organizations. SUMMARY: E:\FR\FM\17FEN1.SGM 17FEN1 Federal Register / Vol. 86, No. 30 / Wednesday, February 17, 2021 / Notices Estimated Number of Respondents: 5,000. Estimated Time Per Respondent: 30 mins. Estimated Total Annual Burden Hours: 2,500. 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. Comments will be 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 has 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 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: January 25, 2021. Martha R. Brinson, Tax Analyst. [FR Doc. 2021–03128 Filed 2–16–21; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Forms W–8BEN, W–8BEN– E, W–8ECI, W–8EXP, and W–8IMY Internal Revenue Service (IRS), Treasury. ACTION: Notice and request for comments. jbell on DSKJLSW7X2PROD with NOTICES AGENCY: VerDate Sep<11>2014 20:43 Feb 16, 2021 Jkt 253001 The Internal Revenue Service (IRS), 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 information collections, as required by the Paperwork Reduction Act of 1995. The IRS is soliciting comments concerning Form W–8BEN, Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding and Reporting (Individual), Form W–8BEN–E, Certificate of Status of Beneficial Owner for United States Tax Withholding and Reporting (Entities), Form W–8ECI, Certificate of Foreign Person’s Claim That Income Is Effectively Connected With the Conduct of a Trade or Business in the United States, Form W–8EXP, Certificate of Foreign Government or Other Foreign Organization for United States Tax Withholding and Reporting, Form W–8IMY, Certificate of Foreign Intermediary, Foreign Flow-Through Entity, or Certain U.S. Branches for United States Tax Withholding and Reporting, and the EW–8 MOU Program. DATES: Written comments should be received on or before April 19, 2021 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 forms and instructions should be directed to Martha R. Brinson, at (202) 317–5753, or at Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC 20224, or through the internet at Martha.R.Brinson@irs.gov. SUPPLEMENTARY INFORMATION: Title: Form W–8BEN, Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding and Reporting (Individual), Form W–8BEN– E, Certificate of Status of Beneficial Owner for United States Tax Withholding and Reporting Entities), Form W–8ECI,Certificate of Foreign Person’s Claim That Income Is Effectively Connected With the Conduct of a Trade or Business in the United States, Form W–8EXP, Certificate of Foreign Government or Other Foreign Organization for United States Tax Withholding and Reporting, Form W– 8IMY, Certificate of Foreign SUMMARY: PO 00000 Frm 00097 Fmt 4703 Sfmt 4703 10001 Intermediary, Foreign Flow-Through Entity, or Certain U.S. Branches for United States Tax Withholding and Reporting. OMB Number: 1545–1621. Form Numbers: W–8BEN, W–8BEN– E, W–8ECI, W–8EXP, and W–8IMY. Abstract: Form W–8BEN is used for certain types of income to establish that the person is a foreign person, is the beneficial owner of the income for which Form W–8BEN is being provided and, if applicable, to claim a reduced rate of, or exemption from, withholding as a resident of a foreign country with which the United States has an income tax treaty. Form W–8ECI is used to establish that the person is a foreign person and the beneficial owner of the income for which Form W–8ECI is being provided, and to claim that the income is effectively connected with the conduct of a trade or business within the United States. Form W–8EXP is used by a foreign government, international organization, foreign central bank of issue, foreign tax-exempt organization, or foreign private foundation. The form is used by such persons to establish foreign status, to claim that the person is the beneficial owner of the income for which Form W–8EXP is given and, if applicable, to claim a reduced rate of, or exemption from, withholding. Form W–8IMY is provided to a withholding agent or payer by a foreign intermediary, foreign partnership, and certain U.S. branches to make representations regarding the status of beneficial owners or to transmit appropriate documentation to the withholding agent. Reg. § 1.1441– 1(e)(4)(iv) provides that a withholding agent may establish a system for a beneficial owner to electronically furnish a Form W–8 or an acceptable substitute Form W–8. Withholding agents with systems that electronically collect Forms W–8 may voluntarily choose to participate in the IRS EW–8 MOU Program. The EW–8 MOU Program is a collaborative process between the withholding agents and IRS. Current Actions: There are no changes being made to the forms at this time. Type of Review: Extension of a currently approved collection. Affected Public: Individuals, business or other for-profit organizations, and not-for-profit institutions. E:\FR\FM\17FEN1.SGM 17FEN1

Agencies

[Federal Register Volume 86, Number 30 (Wednesday, February 17, 2021)]
[Notices]
[Pages 10000-10001]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-03128]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Regulation Project

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

-----------------------------------------------------------------------

SUMMARY: The Internal Revenue Service (IRS), 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 information collections, as required by the Paperwork Reduction Act 
of 1995. The IRS is soliciting comments concerning product liability 
losses and accumulations for product liability losses.

DATES: Written comments should be received on or before April 19, 2021 
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 regulation should be directed to Martha R. Brinson, at 
(202) 317-5753, or at Internal Revenue Service, Room 6526, 1111 
Constitution Avenue NW, Washington, DC 20224, or through the internet 
at [email protected].

SUPPLEMENTARY INFORMATION:
    Title: Product Liability Losses and Accumulations for Product 
Liability Losses.
    OMB Number: 1545-0863.
    Regulation Project Number: TD 8096.
    Abstract: T.D. 8096 provides final regulations relating to product 
liability losses and accumulations for the payment of reasonable 
anticipated product liability losses. Changes to the applicable tax law 
were made by the Revenue Act of 1978. Generally, a taxpayer who 
sustains a product liability loss must carry the loss back 10 years. 
However, a taxpayer may elect to have such loss treated as a regular 
net operating loss under section 172. If desired, such election is made 
by attaching a statement to the tax return. This statement will enable 
the IRS to monitor compliance with the statutory requirements.
    Current Actions: There are no changes being made to this 
regulation.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations.

[[Page 10001]]

    Estimated Number of Respondents: 5,000.
    Estimated Time Per Respondent: 30 mins.
    Estimated Total Annual Burden Hours: 2,500.
    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. 
Comments will be 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 has 
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 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: January 25, 2021.
Martha R. Brinson,
Tax Analyst.
[FR Doc. 2021-03128 Filed 2-16-21; 8:45 am]
BILLING CODE 4830-01-P