Proposed Collection; Requesting Comments on TD 7918, Creditability of Foreign Taxes, 77167-77168 [2022-27363]
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Federal Register / Vol. 87, No. 241 / Friday, December 16, 2022 / Notices
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: December 13, 2022.
Jon R. Callahan,
Tax Analyst.
[FR Doc. 2022–27362 Filed 12–15–22; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment
Request for Forms 3520 and 3520–A
Internal Revenue Service (IRS),
Treasury.
ACTION: Notice and request for
comments.
AGENCY:
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
annual return to report transactions
with foreign trusts and receipt of certain
foreign gifts and for annual information
return of a foreign trust with a U.S.
owner.
lotter on DSK11XQN23PROD with NOTICES1
SUMMARY:
Written comments should be
received on or before February 14, 2023
to be assured of consideration.
ADDRESSES: Direct all written comments
to Andres Garcia, Internal Revenue
DATES:
VerDate Sep<11>2014
20:05 Dec 15, 2022
Jkt 259001
Service, Room 6526, 1111 Constitution
Avenue NW, Washington, DC 20224, or
by email to pra.comments@irs.gov.
Include 1545–0159 or Form 3520,
Annual Return To Report Transactions
With Foreign Trusts and Receipt of
Certain Foreign Gifts and Form 3520–A,
Annual Information Return of Foreign
Trust With a U.S. Owner.
FOR FURTHER INFORMATION CONTACT:
Requests for additional information or
copies of this collection should be
directed to LaNita Van Dyke, at (202)
317–6009, at Internal Revenue Service,
Room 6526, 1111 Constitution Avenue
NW, Washington, DC 20224, or through
the internet at Lanita.VanDyke@irs.gov.
SUPPLEMENTARY INFORMATION:
Titles: Form 3520, Annual Return To
Report Transactions With Foreign
Trusts and Receipt of Certain Foreign
Gifts and Form 3520–A, Annual
Information Return of Foreign Trust
With a U.S. Owner.
OMB Number: 1545–0159.
Form Numbers: Forms 3520 and
3520–A.
Abstract: U.S. persons file Form 3520
to report certain transactions with
foreign trusts, ownership of foreign
trusts under the rules of Internal
Revenue Code sections 671 through 679,
and receipt of certain large gifts or
bequests from certain foreign persons.
Form 3520–A is the annual information
return of a foreign trust with at least one
U.S. owner. The form provides
information about the foreign trust, its
U.S. beneficiaries, and any U.S. person
who is treated as an owner of any
portion of the foreign trust under the
grantor trust rules.
Current Actions: There are no changes
to the form at this time, we are
submitting this collection for approval.
Type of Review: Extension of a
currently approved collection.
Affected Public: Individuals or
households.
Estimated Number of Respondents:
1,820.
Estimated Time Per Respondent: 51
hours, 56 minutes.
Estimated Total Annual Burden
Hours: 94,537.
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
PO 00000
Frm 00111
Fmt 4703
Sfmt 4703
77167
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: December 12, 2022.
Molly J. Stasko,
Supervisory Tax Analyst.
[FR Doc. 2022–27246 Filed 12–15–22; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Requesting
Comments on TD 7918, Creditability of
Foreign Taxes
Internal Revenue Service (IRS),
Treasury.
ACTION: Notice and request for
comments.
AGENCY:
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) 7918 relating
to the creditability of foreign taxes.
DATES: Written comments should be
received on or before February 14, 2023
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. 1545–1276 in
the subject line of the message.
SUMMARY:
E:\FR\FM\16DEN1.SGM
16DEN1
77168
Federal Register / Vol. 87, No. 241 / Friday, December 16, 2022 / Notices
lotter on DSK11XQN23PROD with NOTICES1
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.
SUPPLEMENTARY INFORMATION: The IRS is
currently seeking comments concerning
the following information collection
tools, reporting, and record-keeping
requirements:
Title: TD 7918, Creditability of
Foreign Taxes.
OMB Number: 1545–0746.
Regulation Project Number: TD 7918.
Abstract: Internal Revenue Code (IRC)
section 901 allows a taxpayer a tax
credit for the amount of any income,
war profits, or excess profits taxes it has
paid or accrued during the taxable year.
Treasury Regulations section 1.901–
2A(e) allows a dual capacity taxpayer to
apply the safe harbor formula to
qualifying levies when determining the
credit. Section 1.901–2A(d) requires the
taxpayer to provide a statement electing
to use the safe harbor formula.
Current Actions: There is no change to
the existing collection.
Type of Review: Extension of a
currently approved collection.
Affected Public: Individuals or
households, business or other for-profit
organizations, estates, and trusts.
Estimated Number of Responses: 120.
Estimated Time per Respondent: 20
minutes.
Estimated Total Annual Burden
Hours: 41.
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
VerDate Sep<11>2014
20:05 Dec 15, 2022
Jkt 259001
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: December 13, 2022.
Jon R. Callahan,
Tax Analyst.
[FR Doc. 2022–27363 Filed 12–15–22; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment
Request for Form Project
Internal Revenue Service (IRS),
Treasury.
ACTION: Notice and request for
comments.
AGENCY:
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 continuing
information collections, as required by
the Paperwork Reduction Act of 1995.
The IRS is soliciting comments
concerning generation-skipping transfer
tax return for distributions.
DATES: Written comments should be
received on or before February 14, 2023
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 1545–1144 or GenerationSkipping Transfer Tax Return for
Distributions.
FOR FURTHER INFORMATION CONTACT:
Requests for additional information or
copies of this collection should be
directed to LaNita Van Dyke, at
(202)317–6009, at Internal Revenue
Service, Room 6526, 1111 Constitution
Avenue NW, Washington, DC 20224, or
through the internet at
Lanita.VanDyke@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Generation-Skipping Transfer
Tax Return for Distributions.
OMB Number: 1545–1144.
Form Number: Form 706–GS (D).
Abstract: Form 706–GS(D) is used by
persons who receive taxable
SUMMARY:
PO 00000
Frm 00112
Fmt 4703
Sfmt 9990
distributions from a trust to compute
and report the generation-skipping
transfer tax imposed by Internal
Revenue Code section 2601. IRS uses
the information to verify that the tax has
been properly computed.
Current Actions: There are no changes
being made to the form that would affect
burden at this time.
Type of Review: Extension of a
currently approved collection.
Affected Public: Individuals or
households.
Estimated Number of Respondents:
1,000.
Estimated Time per Respondent: 59
minutes.
Estimated Total Annual Burden
Hours: 980 hours.
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: December 12, 2022.
Molly J. Stasko,
Supervisory Tax Analyst.
[FR Doc. 2022–27245 Filed 12–15–22; 8:45 am]
BILLING CODE 4830–01–P
E:\FR\FM\16DEN1.SGM
16DEN1
]]>Agencies
[Federal Register Volume 87, Number 241 (Friday, December 16, 2022)]
[Notices]
[Pages 77167-77168]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-27363]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Requesting Comments on TD 7918,
Creditability of Foreign Taxes
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) 7918 relating to
the creditability of foreign taxes.
DATES: Written comments should be received on or before February 14,
2023 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.
1545-1276 in the subject line of the message.
[[Page 77168]]
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 7918, Creditability of Foreign Taxes.
OMB Number: 1545-0746.
Regulation Project Number: TD 7918.
Abstract: Internal Revenue Code (IRC) section 901 allows a taxpayer
a tax credit for the amount of any income, war profits, or excess
profits taxes it has paid or accrued during the taxable year. Treasury
Regulations section 1.901-2A(e) allows a dual capacity taxpayer to
apply the safe harbor formula to qualifying levies when determining the
credit. Section 1.901-2A(d) requires the taxpayer to provide a
statement electing to use the safe harbor formula.
Current Actions: There is no change to the existing collection.
Type of Review: Extension of a currently approved collection.
Affected Public: Individuals or households, business or other for-
profit organizations, estates, and trusts.
Estimated Number of Responses: 120.
Estimated Time per Respondent: 20 minutes.
Estimated Total Annual Burden Hours: 41.
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: December 13, 2022.
Jon R. Callahan,
Tax Analyst.
[FR Doc. 2022-27363 Filed 12-15-22; 8:45 am]
BILLING CODE 4830-01-P
