Proposed Collection; Comment Request for Regulation Project, 57267 [2021-22310]

Agencies

• Internal Revenue Service
• DEPARTMENT OF THE TREASURY

[Federal Register Volume 86, Number 196 (Thursday, October 14, 2021)]
[Notices]
[Page 57267]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-22310]


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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.

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SUMMARY: 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 
proposed and/or continuing information collections, as required by the 
Paperwork Reduction Act of 1995. The IRS is soliciting comments 
concerning combined information reporting.

DATES: Written comments should be received on or before December 13, 
2021 to be assured of consideration.

ADDRESSES: Direct all written comments to Andres Garcia, Internal 
Revenue Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC 
20224. You must reference the information collection's title, form 
number, reporting or record-keeping requirement number, and OMB number 
in your comment.

FOR FURTHER INFORMATION CONTACT:  Requests for additional information 
or copies of the form and instructions should be directed to Jon 
Callahan, (737) 800-7639, at Internal Revenue Service, Room 6526, 1111 
Constitution Avenue NW, Washington, DC 20224, or through the internet 
at [email protected].

SUPPLEMENTARY INFORMATION: The IRS is currently seeking comments 
concerning the following information collection tools, reporting, and 
record-keeping requirements:
    Title: Combined Information Reporting.
    OMB Number: 1545-1667.
    Regulation Project Number: Revenue Procedure 99-50.
    Abstract: Revenue Procedure 99-50 permits combined information 
reporting by a successor business entity (i.e., a corporation, 
partnership, or sole proprietorship) in certain situations following a 
merger or an acquisition. Combined information reporting may be elected 
by a successor with respect to certain Forms 1042-S and all forms in 
series 1098, 1099, and 5498. The procedures also apply to Forms 1097, 
3921, 3922, and W-2G. The successor must file a statement with the IRS 
indicating what forms are being filed on a combined basis.
    Current Actions: There is no change to the existing collection.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations, not-
for-profit institutions, and farms.
    Estimated Number of Responses: 6,000.
    Estimated Time per Respondent: 5 minutes.
    Estimated Total Annual Burden Hours: 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. 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: October 7, 2021.
Jon R. Callahan,
Tax Analyst.
[FR Doc. 2021-22310 Filed 10-13-21; 8:45 am]
BILLING CODE 4830-01-P