Proposed Collection; Requesting Comments on TD 9584, TD 9734, Form 1042, Schedule Q (Form 1042), Form 1042-S, and Form 1042-T, 53048-53049 [2022-18638]
Download as PDF
<![CDATA[
53048
Federal Register / Vol. 87, No. 167 / Tuesday, August 30, 2022 / Notices
Members of the public may submit
written statements to the MSAAC. The
OCC must receive written statements no
later than 5:00 p.m. EDT on Thursday,
September 15, 2022. Members of the
public may submit written statements to
MSAAC@occ.treas.gov.
Members of the public who plan to
attend the meeting should contact the
OCC by 5:00 p.m. EDT on Thursday,
September 15, 2022, to inform the OCC
of their desire to attend the meeting and
whether they will attend in person or
virtually, and to obtain information
about participating in the meeting.
Members of the public may contact the
OCC via email at MSAAC@
OCC.treas.gov or by telephone at (202)
649–5420. Attendees should provide
their full name, email address, and
organization, if any. For persons who
are deaf, hard of hearing, or have a
speech disability, please dial 7–1–1 to
arrange telecommunications relay
services for this meeting.
Andrew J. Keyso Jr.,
Chief, Independent Office of Appeals.
[FR Doc. 2022–18707 Filed 8–29–22; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Michael J. Hsu,
Acting Comptroller of the Currency.
Proposed Collection; Requesting
Comments on TD 9584, TD 9734, Form
1042, Schedule Q (Form 1042), Form
1042–S, and Form 1042–T
[FR Doc. 2022–18630 Filed 8–29–22; 8:45 am]
AGENCY:
Internal Revenue Service (IRS),
Treasury.
ACTION: Notice and request for
comments.
BILLING CODE P
DEPARTMENT OF THE TREASURY
Art Advisory Panel—Notice of Closed
Meeting
Internal Revenue Service,
Treasury.
ACTION: Notice of closed meeting of Art
Advisory Panel.
AGENCY:
Closed meeting of the Art
Advisory Panel will be held virtually by
ZoomGov. The entire meeting will be
closed.
DATES: The meeting will begin at 10:30
a.m. Eastern Time. The meeting will be
held September 22, 2022.
ADDRESSES: The closed meeting of the
Art Advisory Panel will be held
virtually by ZoomGov.
FOR FURTHER INFORMATION CONTACT:
Robin B. Lawhorn, 400 West Bay Street,
Suite 252, Jacksonville, FL 32202.
Telephone (904) 661–3198 (not a tollfree number).
SUPPLEMENTARY INFORMATION: Notice is
hereby given pursuant to section
10(a)(2) of the Federal Advisory
Committee Act, 5 U.S.C. app., that a
closed meeting of the Art Advisory
Panel will be held virtually by
ZoomGov.
The agenda will consist of the review
and evaluation of the acceptability of
fair market value appraisals of works of
SUMMARY:
VerDate Sep<11>2014
17:24 Aug 29, 2022
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 final regulations
in Treasury Decision (TD) 9584 relating
to interest paid to nonresident aliens,
TD 9734 relating to dividend
equivalents from sources within the
United States, Form 1042, Schedule Q
(Form 1042), Form 1042–S, and Form
1042–T.
DATES: Written comments should be
received on or before October 31, 2022
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, or
by email to pra.comments@irs.gov.
Include OMB Control No. 1545–0096 in
the subject line of the message.
FOR FURTHER INFORMATION CONTACT:
Requests for additional information or
copies of this collection 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 jon.r.callahan@irs.gov.
SUMMARY:
Internal Revenue Service
khammond on DSKJM1Z7X2PROD with NOTICES
art involved in Federal income, estate,
or gift tax returns. This will involve the
discussion of material in individual tax
returns made confidential by the
provisions of 26 U.S.C. 6103.
A determination as required by
section 10(d) of the Federal Advisory
Committee Act has been made that this
meeting is concerned with matters listed
in sections 552b(c)(3), (4), (6), and (7),
of the Government in the Sunshine Act,
and that the meeting will not be open
to the public.
Jkt 256001
PO 00000
Frm 00148
Fmt 4703
Sfmt 4703
The IRS is
currently seeking comments concerning
the following information collection
tools, reporting, and record-keeping
requirements:
Title: TD 9584, TD 9734, Form 1042,
Schedule Q (Form 1042), Form 1042–S,
and Form 1042–T.
OMB Number: 1545–0096.
Form Number: 1042, Schedule Q
(Form 1042), 1042–S, and 1042–T.
Regulation Project Number: TD 9584
and TD 9734.
Abstract: TD 9584 contains final
regulations that provide guidance on the
reporting requirements for interest on
deposits maintained at the U.S. office of
certain financial institutions and paid to
nonresident alien individuals. These
regulations affect persons making
payments of interest with respect to
such a deposit. TD 9734 contains
regulations pertain to Internal Revenue
Code (IRC) section 871(m) regarding
dividend equivalent payments that are
treated as U.S. source income. These
regulations provide guidance regarding
when payments made pursuant to
certain financial instruments will be
treated as U.S. source income and
subject to U.S. withholding tax.
Form 1042 is used by withholding
agents to report tax withheld at source
on certain income paid to nonresident
alien individuals, foreign partnerships,
and foreign corporations to the IRS.
Schedule Q (Form 1042) is used
withholding agents to report the tax
liability of a qualified derivatives dealer
(QDD). Form 1042–S is used by
withholding agents to report income
and tax withheld to payees. A copy of
each 1042–S is filed electronically or
with Form 1042 for information
reporting purposes. The IRS uses this
information to verify that the correct
amount of tax has been withheld and
paid to the United States. Form 1042–
T is used by withholding agents to
transmit paper Forms 1042–S to the IRS.
Current Actions: There is are changes
to the existing collection: (1) Schedule
Q (Form 1042) was created to replace
the previous requirement to attach a
statement to the Form 1042 to provide
information regarding a QDD’s tax
liability; (2) the burden for TD 9584,
previously reported under OMB control
number 1545–1725, is being
incorporated in this collection for
clarity and continuity; (3) the burden for
Form 1042 was recalculated for better
estimates; and (4) the number of
respondents and responses for all forms
were updated with better estimates.
Type of Review: Revision of a
currently approved collection.
Affected Public: Individuals, business
or other for-profit organizations, estates,
SUPPLEMENTARY INFORMATION:
E:\FR\FM\30AUN1.SGM
30AUN1
Federal Register / Vol. 87, No. 167 / Tuesday, August 30, 2022 / Notices
khammond on DSKJM1Z7X2PROD with NOTICES
trusts, tax-exempt organizations, and
government entities.
Estimated Number of Respondents:
138,150.
Estimated Number of Responses:
8,560,200.
Estimated Time per Respondent: 15
minutes for TD 9584, 8 hours for TD
9734, 29 hours and 28 minutes for Form
1042, 5 hours and 44 minutes for
Schedule Q (Form 1042), 34 minutes for
Form 1042–S, and 12 minutes for Form
1042–T.
Estimated Total Annual Burden
Hours: 6,704,749.
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: August 25, 2022.
Jon R. Callahan,
Tax Analyst.
[FR Doc. 2022–18638 Filed 8–29–22; 8:45 am]
BILLING CODE 4830–01–P
VerDate Sep<11>2014
17:24 Aug 29, 2022
Jkt 256001
DEPARTMENT OF THE TREASURY
Agency Information Collection
Activities; Submission for OMB
Review; Comment Request; Multiple
Alcohol and Tobacco Tax and Trade
Bureau Information Collection Request
Departmental Offices,
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 September 29, 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 Melody Braswell by
emailing PRA@treasury.gov, calling
(202) 622–1035, or viewing the entire
information collection request at
www.reginfo.gov.
SUPPLEMENTARY INFORMATION:
SUMMARY:
Alcohol and Tobacco Tax and Trade
Bureau Information Collection Request
(TTB)
1. Title: Formula and Process for
Wine.
OMB Number: 1513–0010.
Form Number: TTB F 5120.29.
Abstract: The Internal Revenue Code
(IRC) at 26 U.S.C. 5361, 5362, and 5386–
5388, require persons who intend to
produce certain agricultural, nonstandard, or nonbeverage wines to
obtain approval of the formulas and
processes by which those products will
be made. Under the Alcohol and
Tobacco Tax and Trade Bureau (TTB)
regulations in 27 CFR parts 24 and 26,
producers may file such wine formula
and process approval requests using
TTB F 5120.29. TTB uses the collected
information to ensure that the relevant
tax provisions of the IRC are
appropriately applied.
Type of Review: Extension of a
currently approved collection.
PO 00000
Frm 00149
Fmt 4703
Sfmt 4703
53049
Affected Public: Businesses and other
for-profits.
Estimated Number of Respondents:
30.
Estimated Average Responses per
Respondent: 5.
Estimated Number of Responses: 150.
Estimated Average per-response
Burden: 2 hours.
Estimated Total Burden: 300 hours.
2. Title: User’s Report of Denatured
Spirits.
OMB Number: 1513–0012
Form Number: TTB F 5150.18.
Abstract: The IRC at 26 U.S.C. 5214
allows the tax-free withdrawal of
denatured distilled spirits from a
distilled spirits plant (DSP), while 26
U.S.C. 5275 requires persons that
procure, deal in, or use specially
denatured (SDS), or that recover
specially denatured or completely
denatured distilled spirits, to maintain
records and file reports as required by
regulation. The TTB regulations in 27
CFR part 20 require persons who use or
recover SDS or articles, or who use
recovered completely denatured spirits
or articles, to file a report once annually,
or when discontinuing business, using
TTB F 5150.18 to account for their use
of such denatured spirits in specific
approved formulas. The collected
information is necessary to ensure that
the tax provisions of the IRC are
appropriately applied, as it accounts for
the use of untaxed distilled spirits.
Type of Review: Extension of a
currently approved collection.
Affected Public: Businesses or other
for-profits.
Estimated Number of Respondents:
650.
Estimated Average Responses per
Respondent: 1 (one).
Estimated Number of Responses: 650.
Estimated Average per-response
Burden: 18 minutes.
Estimated Total Burden: 195 hours.
3. Title: Power of Attorney.
Form Number: TTB F 5000.8.
OMB Number: 1513–0014.
Abstract: The IRC at 26 U.S.C. 6061
provides that persons must sign any
return, statement, or document
submitted under the IRC’s provisions in
accordance with prescribed forms and
regulations. In addition, the Federal
Alcohol Administration Act (FAA Act)
at 27 U.S.C. 204(c) authorizes the
Secretary of the Treasury (the Secretary)
to prescribe the manner and form of
applications for basic permits issued
under the Act. Under those authorities,
the TTB regulations require individuals
signing documents and forms filed with
TTB on behalf of an applicant or
principal to have specific authority to
do so. To delegate such authority and
E:\FR\FM\30AUN1.SGM
30AUN1
]]>Agencies
[Federal Register Volume 87, Number 167 (Tuesday, August 30, 2022)]
[Notices]
[Pages 53048-53049]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-18638]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Requesting Comments on TD 9584, TD 9734,
Form 1042, Schedule Q (Form 1042), Form 1042-S, and Form 1042-T
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Notice and request for comments.
-----------------------------------------------------------------------
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 final regulations in Treasury Decision (TD) 9584 relating to
interest paid to nonresident aliens, TD 9734 relating to dividend
equivalents from sources within the United States, Form 1042, Schedule
Q (Form 1042), Form 1042-S, and Form 1042-T.
DATES: Written comments should be received on or before October 31,
2022 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, or by email to [email protected]. Include OMB Control No.
1545-0096 in the subject line of the message.
FOR FURTHER INFORMATION CONTACT: Requests for additional information or
copies of this collection 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: TD 9584, TD 9734, Form 1042, Schedule Q (Form 1042), Form
1042-S, and Form 1042-T.
OMB Number: 1545-0096.
Form Number: 1042, Schedule Q (Form 1042), 1042-S, and 1042-T.
Regulation Project Number: TD 9584 and TD 9734.
Abstract: TD 9584 contains final regulations that provide guidance
on the reporting requirements for interest on deposits maintained at
the U.S. office of certain financial institutions and paid to
nonresident alien individuals. These regulations affect persons making
payments of interest with respect to such a deposit. TD 9734 contains
regulations pertain to Internal Revenue Code (IRC) section 871(m)
regarding dividend equivalent payments that are treated as U.S. source
income. These regulations provide guidance regarding when payments made
pursuant to certain financial instruments will be treated as U.S.
source income and subject to U.S. withholding tax.
Form 1042 is used by withholding agents to report tax withheld at
source on certain income paid to nonresident alien individuals, foreign
partnerships, and foreign corporations to the IRS. Schedule Q (Form
1042) is used withholding agents to report the tax liability of a
qualified derivatives dealer (QDD). Form 1042-S is used by withholding
agents to report income and tax withheld to payees. A copy of each
1042-S is filed electronically or with Form 1042 for information
reporting purposes. The IRS uses this information to verify that the
correct amount of tax has been withheld and paid to the United States.
Form 1042-T is used by withholding agents to transmit paper Forms 1042-
S to the IRS.
Current Actions: There is are changes to the existing collection:
(1) Schedule Q (Form 1042) was created to replace the previous
requirement to attach a statement to the Form 1042 to provide
information regarding a QDD's tax liability; (2) the burden for TD
9584, previously reported under OMB control number 1545-1725, is being
incorporated in this collection for clarity and continuity; (3) the
burden for Form 1042 was recalculated for better estimates; and (4) the
number of respondents and responses for all forms were updated with
better estimates.
Type of Review: Revision of a currently approved collection.
Affected Public: Individuals, business or other for-profit
organizations, estates,
[[Page 53049]]
trusts, tax-exempt organizations, and government entities.
Estimated Number of Respondents: 138,150.
Estimated Number of Responses: 8,560,200.
Estimated Time per Respondent: 15 minutes for TD 9584, 8 hours for
TD 9734, 29 hours and 28 minutes for Form 1042, 5 hours and 44 minutes
for Schedule Q (Form 1042), 34 minutes for Form 1042-S, and 12 minutes
for Form 1042-T.
Estimated Total Annual Burden Hours: 6,704,749.
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: August 25, 2022.
Jon R. Callahan,
Tax Analyst.
[FR Doc. 2022-18638 Filed 8-29-22; 8:45 am]
BILLING CODE 4830-01-P
