Agency Information Collection Activities; Submission for OMB Review; Comment Request; Form 1116, Foreign Tax Credit, 1486 [2022-00277]

Download as PDF 1486 Federal Register / Vol. 87, No. 7 / Tuesday, January 11, 2022 / Notices 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: January 5, 2022. Ronald J. Durbala, IRS Tax Analyst. [FR Doc. 2022–00338 Filed 1–10–22; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Agency Information Collection Activities; Submission for OMB Review; Comment Request; Form 1116, Foreign Tax Credit Departmental Offices, U.S. Department of the Treasury. ACTION: Notice. AGENCY: The Department of the Treasury will submit the following information collection requests to the Office of Management and Budget (OMB) for review and clearance in accordance with the Paperwork Reduction Act of 1995, on or after the date of publication of this notice. The public is invited to submit comments on these requests. DATES: Comments should be received on or before February 10, 2022 to be assured of consideration. ADDRESSES: Written comments and recommendations for the proposed information collection should be sent within 30 days of publication of this notice to www.reginfo.gov/public/do/ PRAMain. Find this particular information collection by selecting ‘‘Currently under 30-day Review—Open for Public Comments’’ or by using the search function. khammond on DSKJM1Z7X2PROD with NOTICES SUMMARY: VerDate Sep<11>2014 20:03 Jan 10, 2022 Jkt 256001 FOR FURTHER INFORMATION CONTACT: Copies of the submissions may be obtained from Spencer W. Clark by emailing PRA@treasury.gov, calling (202) 927–5331, or viewing the entire information collection request at www.reginfo.gov. SUPPLEMENTARY INFORMATION: Internal Revenue Service (IRS) Title: Form 1116, Foreign Tax Credit. OMB Control Number: 1545–0121. Type of Review: Revision of a currently approved collection. Description: Form 1116 and its schedules are used by individuals, estates, and trusts to claim a credit for certain taxes paid or accrued during the taxable year to a foreign country or a possession of the United States, subject to the limitations of IRC section 904. This information is used by the IRS to verify the foreign tax credit. The IRS is adding Form 1116 Schedules B and C to assist taxpayers in complying with the changes made to the Internal Revenue Code by the Tax Cuts and Jobs Act, Public Law 115–97, and accurately report the required information to the IRS. The information collection burden estimates associated with the filing of Form 1116 and its schedules by individuals are covered under OMB Control Number 1545–0074. This information collection request (ICR) reflects only the burdens associated with the filing of Form 1116 and its schedules by estates and trusts that are claiming the foreign tax credit. Form: 1116. Affected Public: Estates and Trusts. Estimated Number of Respondents: 454,326. Frequency of Response: Annually. Estimated Total Number of Annual Responses: 454,326. Estimated Time per Response: 5 hours, 34 minutes. Estimated Total Annual Burden Hours: 2,531,600. Authority: 44 U.S.C. 3501 et seq. Dated: January 5, 2022. Spencer W. Clark, Treasury PRA Clearance Officer. [FR Doc. 2022–00277 Filed 1–10–22; 8:45 am] BILLING CODE 4830–01–P PO 00000 Frm 00095 Fmt 4703 Sfmt 4703 DEPARTMENT OF VETERANS AFFAIRS [OMB Control No. 2900–0208] Agency Information Collection Activity Under OMB Review: VA Form 6298, Architect-Engineer Fee Proposal and VA Form 10101, Contractor Production Report Office of Acquisition and Logistics, Department of Veterans Affairs. ACTION: Notice. AGENCY: In compliance with the Paperwork Reduction Act (PRA) of 1995, this notice announces that the Office of Acquisition and Logistics (OAL), Department of Veterans Affairs, will submit the collection of information abstracted below to the Office of Management and Budget (OMB) for review and comment. The PRA submission describes the nature of the information collection and its expected cost and burden and includes the actual data collection instrument. DATES: Written comments and recommendations for the proposed information collection should be sent within 30 days of publication of this notice to www.reginfo.gov/public/do/ PRAMain. Find this particular information collection by selecting ‘‘Currently under Review—Open for Public Comments’’ or by using the search function. Refer to ‘‘OMB Control No. 2900–0208.’’ FOR FURTHER INFORMATION CONTACT: Maribel Aponte, Office of Enterprise and Integration, Data Governance Analytics (008), 1717 H Street NW, Washington, DC 20006, (202) 266–4688 or email maribel.aponte@va.gov. Please refer to ‘‘OMB Control No. 2900–0208’’ in any correspondence. SUPPLEMENTARY INFORMATION: Authority: Public Law 104–13; 44 U.S.C. 3501–3521. Title: VA Form 6298, ArchitectEngineer Fee Proposal and VA Form 10101, Contractor Production Report. OMB Control Number: 2900–0208. Type of Review: Extension of a currently approved collection. Abstract: The Department of Veterans Affairs, Office of Construction and Facilities Management (CFM), manages a multi-million-dollar construction program that involves the design and construction of medical centers, and other VA facilities including building improvements and conversions. The actual construction work is contracted out to private construction firms. The use of VA Form 6298, ArchitectEngineer Fee Proposal is mandatory for SUMMARY: E:\FR\FM\11JAN1.SGM 11JAN1

Agencies

[Federal Register Volume 87, Number 7 (Tuesday, January 11, 2022)]
[Notices]
[Page 1486]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-00277]


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DEPARTMENT OF THE TREASURY


Agency Information Collection Activities; Submission for OMB 
Review; Comment Request; Form 1116, Foreign Tax Credit

AGENCY: Departmental Offices, U.S. Department of the Treasury.

ACTION: Notice.

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

SUMMARY: The Department of the Treasury will submit the following 
information collection requests to the Office of Management and Budget 
(OMB) for review and clearance in accordance with the Paperwork 
Reduction Act of 1995, on or after the date of publication of this 
notice. The public is invited to submit comments on these requests.

DATES: Comments should be received on or before February 10, 2022 to be 
assured of consideration.

ADDRESSES: Written comments and recommendations for the proposed 
information collection should be sent within 30 days of publication of 
this notice to www.reginfo.gov/public/do/PRAMain. Find this particular 
information collection by selecting ``Currently under 30-day Review--
Open for Public Comments'' or by using the search function.

FOR FURTHER INFORMATION CONTACT: Copies of the submissions may be 
obtained from Spencer W. Clark by emailing [email protected], calling 
(202) 927-5331, or viewing the entire information collection request at 
www.reginfo.gov.

SUPPLEMENTARY INFORMATION:

Internal Revenue Service (IRS)

    Title: Form 1116, Foreign Tax Credit.
    OMB Control Number: 1545-0121.
    Type of Review: Revision of a currently approved collection.
    Description: Form 1116 and its schedules are used by individuals, 
estates, and trusts to claim a credit for certain taxes paid or accrued 
during the taxable year to a foreign country or a possession of the 
United States, subject to the limitations of IRC section 904. This 
information is used by the IRS to verify the foreign tax credit.
    The IRS is adding Form 1116 Schedules B and C to assist taxpayers 
in complying with the changes made to the Internal Revenue Code by the 
Tax Cuts and Jobs Act, Public Law 115-97, and accurately report the 
required information to the IRS.
    The information collection burden estimates associated with the 
filing of Form 1116 and its schedules by individuals are covered under 
OMB Control Number 1545-0074. This information collection request (ICR) 
reflects only the burdens associated with the filing of Form 1116 and 
its schedules by estates and trusts that are claiming the foreign tax 
credit.
    Form: 1116.
    Affected Public: Estates and Trusts.
    Estimated Number of Respondents: 454,326.
    Frequency of Response: Annually.
    Estimated Total Number of Annual Responses: 454,326.
    Estimated Time per Response: 5 hours, 34 minutes.
    Estimated Total Annual Burden Hours: 2,531,600.
    Authority: 44 U.S.C. 3501 et seq.

    Dated: January 5, 2022.
Spencer W. Clark,
Treasury PRA Clearance Officer.
[FR Doc. 2022-00277 Filed 1-10-22; 8:45 am]
BILLING CODE 4830-01-P
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