Agency Information Collection Activities; Submission for OMB Review; Comment Request; Multiple Internal Revenue Service (IRS) Information Collection Requests., 72590-72592 [2022-25705]
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Federal Register / Vol. 87, No. 226 / Friday, November 25, 2022 / Notices
Designated pursuant to section l(a)(iii)(A) of E.O. 13846 for, on or after November 5, 2018,
having materially assisted, sponsored, or provided financial, material, or technological support
for, or goods or services to or in support of, TRILIANCE PETROCHEMICAL CO. LTD., an
Iranian person included on the SDN List.
13. UTELIZ RESOURCES CO., LIMITED (f.k.a. MILAEE TRADING CO., LIMITED), Unit
9039, 9/F, BLK B Chung Mei Ctr, 15-17 Hing Yip St, Kwun Tong Kln, Hong Kong, China;
Additional Sanctions Information - Subject to Secondary Sanctions; Organization Established
Date 10 Jun 2021; C.R. No. 3056947 (Hong Kong) [IRAN-EO13846] (Linked To: TRILIANCE
PETROCHEMICAL CO. LTD.).
Dated: November 10, 2022.
Andrea M. Gacki,
Director, Office of Foreign Assets Control,
U.S. Department of the Treasury.
information collection request at
www.reginfo.gov.
SUPPLEMENTARY INFORMATION:
Internal Revenue Service (IRS)
[FR Doc. 2022–25684 Filed 11–23–22; 8:45 am]
BILLING CODE 4810–AL–C
DEPARTMENT OF THE TREASURY
Agency Information Collection
Activities; Submission for OMB
Review; Comment Request; Multiple
Internal Revenue Service (IRS)
Information Collection Requests.
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 December 27, 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.
Copies of the submissions may be
obtained from Melody Braswell by
emailing PRA@treasury.gov, calling
(202) 622–1035, or viewing the entire
khammond on DSKJM1Z7X2PROD with NOTICES
SUMMARY:
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1. Title: Quarterly Federal Excise Tax
Return.
OMB Number: 1545–0023.
Form Number: Form 720, Form 720–
X, and Form 6627.
Abstract: Excise taxes are taxes paid
when purchases are made on a specific
good, such as gasoline. 26 U.S.C. 4081
imposes tax for miscellaneous excise
taxes, manufacturers excise taxes,
automotive and related items, petroleum
products and motor and aviation fuel.
Form 720, Quarterly Federal Excise Tax
Return, is used to report liability by IRS
number and to pay the excise taxes
listed on the form. Form 720–X is used
to make adjustments to liability reported
on Form 720 filed in previous quarters.
Form 6627 is used to figure the
environmental tax on petroleum, ODCs,
imported products that used ODCs as
materials in the manufacture or
production of the product, and the floor
stocks tax on ODCs. Form 6627 is filed
with Form 720.
Current Actions: There is no change
in the paperwork burden previously
approved by OMB. These forms are
being submitted for renewal purposes
only.
Type of Review: Extension of a
currently approved collection.
Affected Public: Business or other forprofit organizations, individuals, notfor-profit institutions, farms, and
Federal, State, local or Tribal
governments.
Estimated Number of Respondents:
205,400.
Estimated Time per Respondent: 11
hrs., 38 min.
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Estimated Total Annual Burden
Hours: 2,391,400.
2. 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.
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.
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EN25NO22.045</GPH>
Designated pursuant to section l(a)(iii)(A) of E.O. 13846 for, on or after November 5, 2018,
having materially assisted, sponsored, or provided financial, material, or technological support
for, or goods or services to or in support of, TRILIANCE PETROCHEMICAL CO. LTD., an
Iranian person included on the SDN List.
khammond on DSKJM1Z7X2PROD with NOTICES
Federal Register / Vol. 87, No. 226 / Friday, November 25, 2022 / Notices
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,
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.
3. Title: U.S. Withholding Tax Return
for Certain Dispositions by Foreign
Persons and Statement of Withholding
on Certain Dispositions by Foreign
Persons.
OMB Number: 1545–0902.
Form Numbers: 8288, 8288–A and
8288–C.
Abstract: Internal Revenue Code
section 1445 requires transferees to
withhold tax on the amount realized
from sales or other dispositions by
foreign persons. Form 8288 is used to
report and transmit the amount
withheld to the IRS. Form 8288–A is
used by the IRS to validate the
withholding, and a copy is returned to
the transferor for his or her use in filing
a tax return. Form 8288–C is used as
evidence of the amount of your section
1.446(f)(1) liability that you satisfied.
Current Actions: The following
changes have been made to the forms.
Changes to Form 8288:
(1) The form title has been changed to
‘‘U.S. Withholding Tax Return for
Certain Dispositions by Foreign
Persons’’.
(2) The ‘‘entity’’ information
(Withholding Agent Information) was
separated into Parts I and II to its own
sections, to avoid processing and
repetition issues.
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(3) New Line 4 (Withholding Agent
Information) was added to the entity
section.
(4) We added 10(b) to allow the large
trust to identify that the withholding
being reported is a result of the large
trust election previously made.
(5) New Parts II, IV, and V were added
for reporting witholding under section
1446(f)(1) and 1446(f)(4), due to the
final regulation in TD 9226, which has
an effective date of 1/1/23, per Notice
2021–51.
Changes to Form 8288–A:
(1) The form title has been changed to
‘‘Statement of Withholding on Certain
Dispositions by Foreign Persons’’.
(2) New box 5 was added to (identify
the withholding under the specific
section).
(3) A new checkbox was added to box
6 for ‘‘Partnerships’’.
The burden estimates below do not
include estimates for business or
individual filers. These estimates are for
all other filers only as business
estimates are reported under 1545–0123
and individual estimates are reported
under 1545–0074.
Type of Review: Revisions of a
currently approved collection.
Affected Public: Business or other forprofit organizations and individuals or
households.
Form 8288:
Estimated Number of Respondents:
80,000.
Estimated Time per Respondent: 17
hr., 24 min.
Estimated Total Annual Burden
Hours: 1,399,200.
Form 8288–A:
Estimated Number of Respondents:
87,500.
Estimated Time per Respondent: 3 hr.,
59 min.
Estimated Total Annual Burden
Hours: 343,875.
Form 8288–C:
Estimated Number of Respondents:
70,000.
Estimated Time per Respondent: 25
min.
Estimated Total Annual Burden
Hours: 17,500.
4. Title: Debt Instruments with
Original Discount; Imputed Interest on
Deferred Payment Sales or Exchanges of
Property; Property Traded on an
Established Market.
OMB Number: 1545–1353.
Treasury Decision Numbers: 8517;
9599.
Abstract: These regulations provide
definitions, reporting requirements,
elections, and general rules relating to
the tax treatment of debt instruments
with original issue discount and the
imputation of, and accounting for,
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72591
interest on certain sales or exchanges of
property. Current Actions: IRS is
updating the burden estimates for TD
9599, due to an inadvertent
overstatement in the previous OMB
submissions. This results in a decrease
in the burden estimates by 180,000
responses (from 200,000 to 20,000) and
a decrease of 90,000 hours (from
100,000 to 10,000).
Type of Review: Extension of a
currently approved collection.
Affected Public: Business or other forprofit organizations, individuals or
households.
Estimated Number of Respondents:
525,000.
Estimated Time per Response: 0.35.
Estimated Total Annual Burden
Hours: 185,500.
Treasury Decision 9599:
Estimated Number of Respondents:
20,000.
Estimated Time per Response: 0.5.
Estimated Total Annual Burden
Hours: 10,000.
5. Title: Highly Compensated
Employee Definition.
OMB Number: 1545–1550.
Notice Number: Notice 97–45.
Abstract: Notice 97–45 provides
guidance on the definition of highly
compensated employee (HCE) within
the meaning of section 414(q) of the
Internal Revenue Code, as simplified by
section 1431 of the Small Business Job
Protection Act of 1996, including an
employer’s option to make a top-paid
group election under section
414(q)(1)(B)(ii). The notice requires
qualified retirement plans that contain a
definition of HCE to be amended to
reflect the statutory changes to section
414(q).
Current Actions: There are no changes
being made to the notice at this time.
Type of Review: Extension of a
currently approved collection.
Affected Public: Businesses or other
for-profit organizations, and not-forprofit institutions.
Estimated Number of Respondents:
218,683.
Estimated Time per Response: 18
minutes.
Estimated Total Annual Burden
Hours: 65,605.
6. Title: Agent for Consolidated
Group.
OMB Number: 1545–1699.
Form Number: TD 9715
Abstract: The information is needed
in order for a terminating common
parent of a consolidated group to
designate a substitute agent for the
group and receive approval of the
Commissioner, or for a default
substitute agent to notify the
Commissioner that it is the default
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Federal Register / Vol. 87, No. 226 / Friday, November 25, 2022 / Notices
substitute agent, pursuant to Treas. Reg.
§ 1.1502–77. The Commissioner will
use the information to determine
whether to approve the designation of
the substitute agent (if approval is
required) and to change the IRS’s
records to reflect the information about
the substitute agent.
Current Actions: There are no changes
to the paperwork burden previously
approved by OMB.
Type of Review: Extension of a
currently approved collection.
Affected Public: Business or other forprofit organizations.
Estimated Number of Responses: 200.
Estimated Time per Response: 2
hours.
Estimated Total Annual Burden
Hours: 400.
7. Title: Golden Parachute Payments.
OMB Number: 1545–1851.
Form Number: T.D. 9083.
Abstract: These regulations deny a
deduction for excess parachute
payments. A parachute payment is
payment compensation to a disqualified
individual that is contingent on a
change in ownership or control of a
corporation. Certain payments,
including payments from a small
corporation, are exempt from the
definition of parachute payment if
certain requirements are met (such as
shareholder approval and disclosure
requirements).
Current Actions: There is no change to
the paperwork burden previously
approved by OMB.
Type of Review: Extension of a
currently approved collection.
Affected Public: Business or other forprofit organizations.
Estimated Number of Respondents:
800.
Estimated Time per Respondent: 15
hours.
Estimated Total Annual Burden
Hours: 12,000 hours.
8. Title: Timely Mailing Treated as
Timely Filing.
OMB Number: 1545–1899.
Form Number: T.D. 9543 and Revenue
Procedure 97–19.
Abstract: This information collection
contains regulations that provide
guidance as to the only ways to
establish prima facie evidence of
delivery of documents that have a filing
deadline prescribed by the internal
revenue laws, absent direct proof of
actual delivery. The regulations are
necessary to provide greater certainty on
this issue and to provide specific
guidance. The regulations affect
taxpayers who mail Federal tax
documents to the Internal Revenue
Service or the United States Tax Court.
Revenue Procedure 97–19 provides the
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18:43 Nov 23, 2022
Jkt 259001
criteria that will be used by the IRS to
determine whether a private delivery
service qualifies as a designated Private
Delivery Service under section 7502 of
the Internal Revenue Code.
Current Actions: There is no change to
the paperwork burden previously
approved by OMB.
Type of Review: Extension of a
currently approved collection.
Affected Public: Individuals or
households, business or other for-profit
organizations, not-for-profit institutions,
farms, Federal Government, and State,
local, or Tribal government.
The estimated burden related to
Revenue Procedure 97–19:
Estimated Number of Responses: 14.
Estimated Time per Response: 60
hours, 54 minutes.
Estimated Total Annual Burden
Hours: 853.
The estimated related to T.D. 9543:
Estimated Number of Responses:
10,847,647.
Estimated Time per Response: 6
minutes.
Estimated Total Annual Burden
Hours: 1,084,765.
Total Estimated Number of
Respondents: 10,847,661.
Total Estimated Total Annual Burden
Hours: 1,085,618 hours.
Authority: 44 U.S.C. 3501 et seq.
Melody Braswell,
Treasury PRA Clearance Officer.
[FR Doc. 2022–25705 Filed 11–23–22; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Agency Information Collection
Activities; Proposed Collection;
Comment Request; Provisions
Pertaining to Certain Investments in
the United States by Foreign Persons
and Provisions Pertaining to Certain
Transactions by Foreign Persons
Involving Real Estate in the United
States
Departmental Offices,
Department of the Treasury.
ACTION: Notice of information collection;
request for comment.
AGENCY:
The Department of the
Treasury, as part of its continuing effort
to reduce paperwork and respondent
burden, invites the general public and
other federal agencies to comment on
the proposed information collections
listed below, in accordance with the
Paperwork Reduction Act of 1995.
DATES: Comments should be received on
or before December 27, 2022 to be
assured of consideration.
SUMMARY:
PO 00000
Frm 00151
Fmt 4703
Sfmt 4703
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.
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.
ADDRESSES:
SUPPLEMENTARY INFORMATION:
Title: Provisions Pertaining to Certain
Investments in the United States by
Foreign Persons and Provisions
Pertaining to Certain Transactions by
Foreign Persons Involving Real Estate in
the United States.
OMB Control Number: 1505–0121.
Type of Review: Extension without
change of a currently approved
collection.
Description: Section 721 of the
Defense Production Act of 1950, as
amended (section 721), provides the
President, acting through the Committee
on Foreign Investment in the United
States (CFIUS or the Committee),
authority to review certain foreign
investments in the United States in
order to determine the effects of those
transactions on the national security of
the United States. In August 2018,
section 721 was amended by the Foreign
Investment Risk Review Modernization
Act of 2018 (FIRRMA), Subtitle A of
Title XVII, Public Law 115–232, 132
Stat. 2173 (Aug. 13, 2018). FIRRMA
maintains CFIUS’s jurisdiction over any
merger, acquisition, or takeover that
could result in foreign control of any
U.S. business, and broadens the
authorities of the President and CFIUS
under section 721 to review and take
action to address any national security
concerns arising from certain noncontrolling investments and certain real
estate transactions involving foreign
persons.
Executive Order 13456, 73 FR 4677
(Jan. 23, 2008), directs the Secretary of
the Treasury to issue regulations
implementing section 721. The
Department of the Treasury issued final
regulations (85 FR 3112 and 85 FR 3158)
on January 17, 2020, and subsequent
amendments to the final regulations in
2020 and 2022 (85 FR 8747, 85 FR
45311, 85 FR 57124, and 87 FR 731),
implementing FIRRMA, including
information collections related to
notices and declarations filed with or
submitted to the Committee regarding
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]]>Agencies
[Federal Register Volume 87, Number 226 (Friday, November 25, 2022)]
[Notices]
[Pages 72590-72592]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-25705]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Agency Information Collection Activities; Submission for OMB
Review; Comment Request; Multiple Internal Revenue Service (IRS)
Information Collection Requests.
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 December 27, 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.
Copies of the submissions may be obtained from Melody Braswell by
emailing [email protected], calling (202) 622-1035, or viewing the
entire information collection request at www.reginfo.gov.
SUPPLEMENTARY INFORMATION:
Internal Revenue Service (IRS)
1. Title: Quarterly Federal Excise Tax Return.
OMB Number: 1545-0023.
Form Number: Form 720, Form 720-X, and Form 6627.
Abstract: Excise taxes are taxes paid when purchases are made on a
specific good, such as gasoline. 26 U.S.C. 4081 imposes tax for
miscellaneous excise taxes, manufacturers excise taxes, automotive and
related items, petroleum products and motor and aviation fuel. Form
720, Quarterly Federal Excise Tax Return, is used to report liability
by IRS number and to pay the excise taxes listed on the form. Form 720-
X is used to make adjustments to liability reported on Form 720 filed
in previous quarters. Form 6627 is used to figure the environmental tax
on petroleum, ODCs, imported products that used ODCs as materials in
the manufacture or production of the product, and the floor stocks tax
on ODCs. Form 6627 is filed with Form 720.
Current Actions: There is no change in the paperwork burden
previously approved by OMB. These forms are being submitted for renewal
purposes only.
Type of Review: Extension of a currently approved collection.
Affected Public: Business or other for-profit organizations,
individuals, not-for-profit institutions, farms, and Federal, State,
local or Tribal governments.
Estimated Number of Respondents: 205,400.
Estimated Time per Respondent: 11 hrs., 38 min.
Estimated Total Annual Burden Hours: 2,391,400.
2. 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.
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.
[[Page 72591]]
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, 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.
3. Title: U.S. Withholding Tax Return for Certain Dispositions by
Foreign Persons and Statement of Withholding on Certain Dispositions by
Foreign Persons.
OMB Number: 1545-0902.
Form Numbers: 8288, 8288-A and 8288-C.
Abstract: Internal Revenue Code section 1445 requires transferees
to withhold tax on the amount realized from sales or other dispositions
by foreign persons. Form 8288 is used to report and transmit the amount
withheld to the IRS. Form 8288-A is used by the IRS to validate the
withholding, and a copy is returned to the transferor for his or her
use in filing a tax return. Form 8288-C is used as evidence of the
amount of your section 1.446(f)(1) liability that you satisfied.
Current Actions: The following changes have been made to the forms.
Changes to Form 8288:
(1) The form title has been changed to ``U.S. Withholding Tax
Return for Certain Dispositions by Foreign Persons''.
(2) The ``entity'' information (Withholding Agent Information) was
separated into Parts I and II to its own sections, to avoid processing
and repetition issues.
(3) New Line 4 (Withholding Agent Information) was added to the
entity section.
(4) We added 10(b) to allow the large trust to identify that the
withholding being reported is a result of the large trust election
previously made.
(5) New Parts II, IV, and V were added for reporting witholding
under section 1446(f)(1) and 1446(f)(4), due to the final regulation in
TD 9226, which has an effective date of 1/1/23, per Notice 2021-51.
Changes to Form 8288-A:
(1) The form title has been changed to ``Statement of Withholding
on Certain Dispositions by Foreign Persons''.
(2) New box 5 was added to (identify the withholding under the
specific section).
(3) A new checkbox was added to box 6 for ``Partnerships''.
The burden estimates below do not include estimates for business or
individual filers. These estimates are for all other filers only as
business estimates are reported under 1545-0123 and individual
estimates are reported under 1545-0074.
Type of Review: Revisions of a currently approved collection.
Affected Public: Business or other for-profit organizations and
individuals or households.
Form 8288:
Estimated Number of Respondents: 80,000.
Estimated Time per Respondent: 17 hr., 24 min.
Estimated Total Annual Burden Hours: 1,399,200.
Form 8288-A:
Estimated Number of Respondents: 87,500.
Estimated Time per Respondent: 3 hr., 59 min.
Estimated Total Annual Burden Hours: 343,875.
Form 8288-C:
Estimated Number of Respondents: 70,000.
Estimated Time per Respondent: 25 min.
Estimated Total Annual Burden Hours: 17,500.
4. Title: Debt Instruments with Original Discount; Imputed Interest
on Deferred Payment Sales or Exchanges of Property; Property Traded on
an Established Market.
OMB Number: 1545-1353.
Treasury Decision Numbers: 8517; 9599.
Abstract: These regulations provide definitions, reporting
requirements, elections, and general rules relating to the tax
treatment of debt instruments with original issue discount and the
imputation of, and accounting for, interest on certain sales or
exchanges of property. Current Actions: IRS is updating the burden
estimates for TD 9599, due to an inadvertent overstatement in the
previous OMB submissions. This results in a decrease in the burden
estimates by 180,000 responses (from 200,000 to 20,000) and a decrease
of 90,000 hours (from 100,000 to 10,000).
Type of Review: Extension of a currently approved collection.
Affected Public: Business or other for-profit organizations,
individuals or households.
Estimated Number of Respondents: 525,000.
Estimated Time per Response: 0.35.
Estimated Total Annual Burden Hours: 185,500.
Treasury Decision 9599:
Estimated Number of Respondents: 20,000.
Estimated Time per Response: 0.5.
Estimated Total Annual Burden Hours: 10,000.
5. Title: Highly Compensated Employee Definition.
OMB Number: 1545-1550.
Notice Number: Notice 97-45.
Abstract: Notice 97-45 provides guidance on the definition of
highly compensated employee (HCE) within the meaning of section 414(q)
of the Internal Revenue Code, as simplified by section 1431 of the
Small Business Job Protection Act of 1996, including an employer's
option to make a top-paid group election under section
414(q)(1)(B)(ii). The notice requires qualified retirement plans that
contain a definition of HCE to be amended to reflect the statutory
changes to section 414(q).
Current Actions: There are no changes being made to the notice at
this time.
Type of Review: Extension of a currently approved collection.
Affected Public: Businesses or other for-profit organizations, and
not-for-profit institutions.
Estimated Number of Respondents: 218,683.
Estimated Time per Response: 18 minutes.
Estimated Total Annual Burden Hours: 65,605.
6. Title: Agent for Consolidated Group.
OMB Number: 1545-1699.
Form Number: TD 9715
Abstract: The information is needed in order for a terminating
common parent of a consolidated group to designate a substitute agent
for the group and receive approval of the Commissioner, or for a
default substitute agent to notify the Commissioner that it is the
default
[[Page 72592]]
substitute agent, pursuant to Treas. Reg. Sec. 1.1502-77. The
Commissioner will use the information to determine whether to approve
the designation of the substitute agent (if approval is required) and
to change the IRS's records to reflect the information about the
substitute agent.
Current Actions: There are no changes to the paperwork burden
previously approved by OMB.
Type of Review: Extension of a currently approved collection.
Affected Public: Business or other for-profit organizations.
Estimated Number of Responses: 200.
Estimated Time per Response: 2 hours.
Estimated Total Annual Burden Hours: 400.
7. Title: Golden Parachute Payments.
OMB Number: 1545-1851.
Form Number: T.D. 9083.
Abstract: These regulations deny a deduction for excess parachute
payments. A parachute payment is payment compensation to a disqualified
individual that is contingent on a change in ownership or control of a
corporation. Certain payments, including payments from a small
corporation, are exempt from the definition of parachute payment if
certain requirements are met (such as shareholder approval and
disclosure requirements).
Current Actions: There is no change to the paperwork burden
previously approved by OMB.
Type of Review: Extension of a currently approved collection.
Affected Public: Business or other for-profit organizations.
Estimated Number of Respondents: 800.
Estimated Time per Respondent: 15 hours.
Estimated Total Annual Burden Hours: 12,000 hours.
8. Title: Timely Mailing Treated as Timely Filing.
OMB Number: 1545-1899.
Form Number: T.D. 9543 and Revenue Procedure 97-19.
Abstract: This information collection contains regulations that
provide guidance as to the only ways to establish prima facie evidence
of delivery of documents that have a filing deadline prescribed by the
internal revenue laws, absent direct proof of actual delivery. The
regulations are necessary to provide greater certainty on this issue
and to provide specific guidance. The regulations affect taxpayers who
mail Federal tax documents to the Internal Revenue Service or the
United States Tax Court. Revenue Procedure 97-19 provides the criteria
that will be used by the IRS to determine whether a private delivery
service qualifies as a designated Private Delivery Service under
section 7502 of the Internal Revenue Code.
Current Actions: There is no change to the paperwork burden
previously approved by OMB.
Type of Review: Extension of a currently approved collection.
Affected Public: Individuals or households, business or other for-
profit organizations, not-for-profit institutions, farms, Federal
Government, and State, local, or Tribal government.
The estimated burden related to Revenue Procedure 97-19:
Estimated Number of Responses: 14.
Estimated Time per Response: 60 hours, 54 minutes.
Estimated Total Annual Burden Hours: 853.
The estimated related to T.D. 9543:
Estimated Number of Responses: 10,847,647.
Estimated Time per Response: 6 minutes.
Estimated Total Annual Burden Hours: 1,084,765.
Total Estimated Number of Respondents: 10,847,661.
Total Estimated Total Annual Burden Hours: 1,085,618 hours.
Authority: 44 U.S.C. 3501 et seq.
Melody Braswell,
Treasury PRA Clearance Officer.
[FR Doc. 2022-25705 Filed 11-23-22; 8:45 am]
BILLING CODE 4830-01-P
