Proposed Collection; Comment Request for Form 5309, 10433 [2021-03375]
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Federal Register / Vol. 86, No. 32 / Friday, February 19, 2021 / Notices
Title: U.S. Self-Employment Tax
Return (Including the Additional Child
Tax Credit for Bona Fide Residents of
Puerto Rico).
OMB Number: 1545–0090.
Form Number: 1040–SS.
Abstract: Form 1040–SS is used by
self-employed individuals to figure and
report self-employment tax under IRC
chapter 2 of Subtitle A, and provide
credit to the taxpayer’s social security
account. Both of these forms are also
used by bona-fide residents of Puerto
Rico to claim the additional child tax
credit.
Current Actions:
(1) Part I: A new line 11 was added,
which will be used to enter the deferral
of self-employment and household
employment taxes as permitted by
Section 2302 of the CARES Act (Pub. L.
116–136).
(2) A new Part VII was added, which
will be used by filers to figure the
maximum amount of self-employment
tax that can be deferred. The entire
amount of self-employment tax will still
be reported on Part V, line 12, and
carried to Part I, line 3. The deferral
figured in new Part VII will be used in
the worksheet in the 2020 Instructions
for Form 1040–SS to figure the total
amount of self-employment and
household employment taxes (from
Schedule H (Form 1040)) that can be
deferred for 2020.
Type of Review: Revision of a
currently approved collection.
Affected Public: Individuals or
households, Businesses and other forprofit organizations, Farms.
Estimated Number of Respondents:
92,000.
Estimated Time per Respondent: 11
hours, 57 minutes.
Estimated Total Annual Burden
Hours: 1,099,400.
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
VerDate Sep<11>2014
21:07 Feb 18, 2021
Jkt 253001
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. 2021–03376 Filed 2–18–21; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment
Request for Form 5309
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
Application for Determination of
Employee Stock Ownership Plan.
DATES: Written comments should be
received on or before April 20, 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 form 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: Application for Determination
of Employee Stock Ownership Plan.
OMB Number: 1545–0284.
Form Number: 5309.
Abstract: Internal Revenue Code
section 404(a) allows employers an
income tax deduction for contributions
SUMMARY:
PO 00000
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Sfmt 9990
10433
to their qualified deferred compensation
plans. Form 5309 is used to request an
IRS determination letter about whether
the plan is qualified under Code section
409 or 4975(e)(7).
Current Actions: There are no changes
being made to the form at this time.
Type of Review: Extension of a
currently approved collection.
Affected Public: Businesses or other
for-profit organizations.
Estimated Number of Responses:
2,500.
Estimated Time per Response: 10 hrs.,
47 mins.
Estimated Total Annual Burden
Hours: 26,975.
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. 2021–03375 Filed 2–18–21; 8:45 am]
BILLING CODE 4830–01–P
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19FEN1
]]>Agencies
[Federal Register Volume 86, Number 32 (Friday, February 19, 2021)]
[Notices]
[Page 10433]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-03375]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment Request for Form 5309
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 Application for
Determination of Employee Stock Ownership Plan.
DATES: Written comments should be received on or before April 20, 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 form 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 [email protected].
SUPPLEMENTARY INFORMATION:
Title: Application for Determination of Employee Stock Ownership
Plan.
OMB Number: 1545-0284.
Form Number: 5309.
Abstract: Internal Revenue Code section 404(a) allows employers an
income tax deduction for contributions to their qualified deferred
compensation plans. Form 5309 is used to request an IRS determination
letter about whether the plan is qualified under Code section 409 or
4975(e)(7).
Current Actions: There are no changes being made to the form at
this time.
Type of Review: Extension of a currently approved collection.
Affected Public: Businesses or other for-profit organizations.
Estimated Number of Responses: 2,500.
Estimated Time per Response: 10 hrs., 47 mins.
Estimated Total Annual Burden Hours: 26,975.
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. 2021-03375 Filed 2-18-21; 8:45 am]
BILLING CODE 4830-01-P
