Proposed Collection; Comment Request for Regulation Project, 40138 [2021-15802]
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40138
Federal Register / Vol. 86, No. 140 / Monday, July 26, 2021 / Notices
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: July 19, 2021.
Martha R. Brinson,
Tax Analyst.
[FR Doc. 2021–15786 Filed 7–23–21; 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
(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
Special Valuation Rules.
DATES: Written comments should be
received on or before September 24,
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
jbell on DSKJLSW7X2PROD with NOTICES
SUMMARY:
VerDate Sep<11>2014
17:10 Jul 23, 2021
Jkt 253001
(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: Special Valuation Rules.
OMB Number: 1545–1241.
Regulation Project Number: TD 8395.
Abstract: Section 2701 of the Internal
Revenue Code allows various elections
by family members who make gifts of
common stock or partnership interests
and retain senior interest. This
regulation provides guidance on how
taxpayers make these elections, what
information is required, and how the
transfer is to be disclosed on the gift tax
return (Form 709).
Current Actions: There are no changes
being made to the regulation at this
time.
Type of Review: Extension of a
currently approved collection.
Affected Public: Individuals or
households.
Estimated Number of Respondents:
1,200.
Estimated Time per Respondent: 25
mins.
Estimated Total Annual Burden
Hours: 496.
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.
PO 00000
Frm 00149
Fmt 4703
Sfmt 4703
Approved: July 19, 2021.
Martha R. Brinson,
Tax Analyst.
[FR Doc. 2021–15802 Filed 7–23–21; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment
Request for Information Collection
Tools Relating to the Voluntary
Disclosure Practice and the
Streamlined Filing Compliance
Procedures
Internal Revenue Service (IRS),
Treasury.
ACTION: Notice; correction.
AGENCY:
The Internal Revenue Service
published a document in the Federal
Register on July 7, 2021, concerning
requests for comments on the forms
14452, 14453, 14454, 14457, 14467,
14653, 14654, and 14708. The document
was inadvertently titled Offshore
Voluntary Disclosure Program (OVDP)
and included forms that have been
discontinued. Forms 14452, 14453,
14454, 144657, and 14708 are obsolete
and no longer in use. The correct title
is now Voluntary Disclosure Practice
and the Streamlined Filing Compliance
Procedures.
DATES: Written comments should be
received on or before September 24,
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 should be directed to
Kerry Dennis, at (202) 317–5751 or
Internal Revenue Service, Room 6526,
1111 Constitution Avenue NW,
Washington, DC 20224, or through the
internet, at Kerry.Dennis@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Voluntary Disclosure Practice
and the Streamlined Filing Compliance
Procedures.
OMB Number: 1545–2241.
Form Number(s): 14457, 14653, and
14654.
Abstract: The IRS offers two very
different compliance paths to two very
different populations of taxpayers. First,
the Voluntary Disclosure Practice is a
longstanding practice of IRS Criminal
Investigation (CI). CI takes timely,
accurate, and complete voluntary
disclosures under consideration when
determining whether to recommend
criminal prosecution. A voluntary
SUMMARY:
E:\FR\FM\26JYN1.SGM
26JYN1
]]>Agencies
[Federal Register Volume 86, Number 140 (Monday, July 26, 2021)]
[Notices]
[Page 40138]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-15802]
-----------------------------------------------------------------------
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 Special Valuation
Rules.
DATES: Written comments should be received on or before September 24,
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: Special Valuation Rules.
OMB Number: 1545-1241.
Regulation Project Number: TD 8395.
Abstract: Section 2701 of the Internal Revenue Code allows various
elections by family members who make gifts of common stock or
partnership interests and retain senior interest. This regulation
provides guidance on how taxpayers make these elections, what
information is required, and how the transfer is to be disclosed on the
gift tax return (Form 709).
Current Actions: There are no changes being made to the regulation
at this time.
Type of Review: Extension of a currently approved collection.
Affected Public: Individuals or households.
Estimated Number of Respondents: 1,200.
Estimated Time per Respondent: 25 mins.
Estimated Total Annual Burden Hours: 496.
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: July 19, 2021.
Martha R. Brinson,
Tax Analyst.
[FR Doc. 2021-15802 Filed 7-23-21; 8:45 am]
BILLING CODE 4830-01-P
