Agency Information Collection Activities; Submission for OMB Review; Comment Request; Multiple Internal Revenue Service Information Collection Requests, 4332 [2022-01648]

Agencies

• DEPARTMENT OF THE TREASURY

[Federal Register Volume 87, Number 18 (Thursday, January 27, 2022)]
[Notices]
[Page 4332]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-01648]


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DEPARTMENT OF THE TREASURY


Agency Information Collection Activities; Submission for OMB 
Review; Comment Request; Multiple Internal Revenue Service Information 
Collection Requests

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

ACTION: Notice.

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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 must be received on or before February 28, 2022.

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 Molly Stasko by emailing [email protected], calling (202) 
622-8922, or viewing the entire information collection request at 
www.reginfo.gov.

SUPPLEMENTARY INFORMATION:

Internal Revenue Service (IRS)

    1. Title: Third-Party Disclosure Requirements in IRS Regulations.
    OMB Control Number: 1545-1466.
    Type of Review: Extension of a currently approved collection.
    Description: Taxpayers must obtain third-party certification or 
documentation to avail themselves of certain credits, deductions or 
other benefits permitted by the Internal Revenue Code (IRC). Similarly, 
the receipt of other third-party information often provides a safe-
harbor on which taxpayers may rely to avail themselves of certain 
credits, deductions or other benefits permitted by the IRC. Further, 
although taxpayers do not have to submit the documents or information 
to claim the credits, deductions, or tax benefits, they are required to 
maintain the documentation with their books and records, which 
facilitates the Internal Revenue Service (IRS) examination of the 
claimed credit, deduction, or tax benefit during any audit of 
taxpayer's return. The third parties required to provide this 
certification, documentation, or information generally collect the 
required information in the ordinary course of their business. 
Accordingly, while requiring third-parties to disclose this information 
is not a significant burden, it allows taxpayers to legitimately 
minimize their tax burden the by claiming credits, deductions, and 
other tax benefits that Congress has authorized and facilitates the IRS 
verification of the taxpayers' claims on audit.
    Form Number: None.
    Affected Public: Individuals or households; Business or other for-
profit organizations; Not-for-profit institutions.
    Estimated Number of Respondents: 130,714,403.
    Frequency of Response: Annually.
    Estimated Total Number of Annual Responses: 130,723,849.
    Estimated Time per Response: Varies. Average response time 15 
minutes.
    Estimated Total Annual Burden Hours: 33,931,417.
    2. Title: Public Approval of Tax-Exempt Private Activity Bonds.
    OMB Control Number: 1545-2185.
    Type of Review: Revision of a currently approved collection.
    Description: The collection of information in these final 
regulations is the requirement in Treasury Regulations section 
1.147(f)-1 that certain information be contained in a public notice or 
public approval and, consequently, disclosed to the public. The 
information is required to meet the statutory public approval 
requirement provided in the Internal Revenue Code section 147(f).
    Form Number: TD 9845.
    Affected Public: State and local governments.
    Estimated Number of Respondents: 2,000.
    Frequency of Response: Annually.
    Estimated Total Number of Annual Responses: 2,000.
    Estimated Time per Response: 1 hour 18 minutes.
    Estimated Total Annual Burden Hours: 2,600.

(Authority: 44 U.S.C. 3501 et seq.)

    Dated: January 24, 2022.
Molly Stasko,
Treasury PRA Clearance Officer.
[FR Doc. 2022-01648 Filed 1-26-22; 8:45 am]
BILLING CODE 4830-25-P