Proposed Extension of Information Collection Request Submitted for Public Comment; Comment Request Concerning Information Reporting for Form 7208, 6372 [2023-01869]
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6372
Federal Register / Vol. 88, No. 20 / Tuesday, January 31, 2023 / Notices
Dated: January 19, 2023.
Andrea M. Gacki,
Director, Office of Foreign Assets Control,
U.S. Department of the Treasury.
[FR Doc. 2023–01937 Filed 1–30–23; 8:45 am]
BILLING CODE 4810–AL–C
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Extension of Information
Collection Request Submitted for
Public Comment; Comment Request
Concerning Information Reporting for
Form 7208
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 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. Currently, the IRS is
soliciting comments concerning new
Form 7208, Excise Tax on Repurchase
of Corporate Stock.
DATES: Written comments should be
received on or before April 3, 2023 to
be assured of consideration.
ADDRESSES: Direct all written comments
to Andre´s Garcia, Internal Revenue
Service, Room 6526, 1111 Constitution
Avenue NW, Washington, DC 20224, or
by email to pra.comments@irs.gov.
Please include, ‘‘OMB Number: 1545New, Form 7208—Public Comment
Request Notice’’ in the Subject line.
FOR FURTHER INFORMATION CONTACT:
Requests for additional information or
copies of the form and instructions
should be directed to Ronald J. Durbala,
at (202) 317–5746, at Internal Revenue
Service, Room 6526, 1111 Constitution
Avenue NW, Washington, DC 20224, or
through the internet at
RJoseph.Durbala@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Excise Tax on Repurchase of
Corporate Stock.
OMB Number: 1545-New.
Form Project Number: Form 7208.
Abstract: Section 4501 was added to
a new chapter 37 of the Code by the
enactment of Public Law 117–169, 136
Stat. 1818 (August 16, 2022), commonly
referred to as the Inflation Reduction
Act of 2022 (IRA). Form 7208 is used to
figure the excise tax on stock
repurchases. If more lines for any part
of the form are needed, taxpayers are to
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SUMMARY:
VerDate Sep<11>2014
16:46 Jan 30, 2023
Jkt 259001
prepare a continuation sheet using the
same format as the form. Form 7208 and
any continuation sheet is to be attached
to Form 720, Quarterly Federal Excise
Tax Return.
Current Actions: This is a request for
new OMB approval.
Type of Review: New Form.
Affected Public: Business or other forprofit organizations.
Estimated Number of Responses: 400
Estimated Time per Respondent: 6
Hours 30 minutes
Estimated Total Annual Burden
Hours: 2,600
The following paragraph applies to all
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 if 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.
Desired Focus of Comments: The
Internal Revenue Service (IRS) is
particularly interested in comments
that:
• Evaluate whether the proposed
collection of information is necessary
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 25, 2023.
Ronald J. Durbala,
IRS Tax Analyst.
[FR Doc. 2023–01869 Filed 1–30–23; 8:45 am]
BILLING CODE 4830–01–P
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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 tuition payments statement.
DATES: Written comments should be
received on or before April 3, 2023 to
be assured of consideration.
ADDRESSES: Direct all written comments
to Dr. Andres Garcia, Internal Revenue
Service, Room 6526, 1111 Constitution
Avenue NW, Washington, DC 20224, or
by email to pra.comments@irs.gov.
Please reference the information
collection’s ‘‘OMB number 1545–1574’’
in the subject line of the message.
FOR FURTHER INFORMATION CONTACT:
Requests for additional information or
copies of the form should be directed to
Sara Covington, at (202) 317–5744 or
Internal Revenue Service, Room 6526,
1111 Constitution Avenue NW,
Washington DC 20224, or through the
internet, at sara.l.covington@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Tuition Statement.
OMB Number: 1545–1574.
Form Number: Form 1098–T.
Abstract: Section 6050S of the
Internal Revenue Code quires eligible
education institutions to report certain
information to the IRS and to students.
Form 1098–T has been developed to
meet this requirement.
Current Actions: There are no changes
being made to the form at this time that
would affect burden.
Type of Review: Extension of a
currently approved collection.
Affected Public: Business or other forprofit organizations, and not-for-profit
institutions.
Estimated Number of Respondents:
24,239,614.
Estimated Time per Respondent: 13
minutes.
Estimated Total Annual Burden
Hours: 5,575,112 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
SUMMARY:
E:\FR\FM\31JAN1.SGM
31JAN1
]]>Agencies
[Federal Register Volume 88, Number 20 (Tuesday, January 31, 2023)]
[Notices]
[Page 6372]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-01869]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Extension of Information Collection Request Submitted
for Public Comment; Comment Request Concerning Information Reporting
for Form 7208
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 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. Currently, the IRS is soliciting comments
concerning new Form 7208, Excise Tax on Repurchase of Corporate Stock.
DATES: Written comments should be received on or before April 3, 2023
to be assured of consideration.
ADDRESSES: Direct all written comments to Andr[eacute]s Garcia,
Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW,
Washington, DC 20224, or by email to [email protected]. Please
include, ``OMB Number: 1545-New, Form 7208--Public Comment Request
Notice'' in the Subject line.
FOR FURTHER INFORMATION CONTACT: Requests for additional information or
copies of the form and instructions should be directed to Ronald J.
Durbala, at (202) 317-5746, at Internal Revenue Service, Room 6526,
1111 Constitution Avenue NW, Washington, DC 20224, or through the
internet at [email protected].
SUPPLEMENTARY INFORMATION:
Title: Excise Tax on Repurchase of Corporate Stock.
OMB Number: 1545-New.
Form Project Number: Form 7208.
Abstract: Section 4501 was added to a new chapter 37 of the Code by
the enactment of Public Law 117-169, 136 Stat. 1818 (August 16, 2022),
commonly referred to as the Inflation Reduction Act of 2022 (IRA). Form
7208 is used to figure the excise tax on stock repurchases. If more
lines for any part of the form are needed, taxpayers are to prepare a
continuation sheet using the same format as the form. Form 7208 and any
continuation sheet is to be attached to Form 720, Quarterly Federal
Excise Tax Return.
Current Actions: This is a request for new OMB approval.
Type of Review: New Form.
Affected Public: Business or other for-profit organizations.
Estimated Number of Responses: 400
Estimated Time per Respondent: 6 Hours 30 minutes
Estimated Total Annual Burden Hours: 2,600
The following paragraph applies to all 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 if 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.
Desired Focus of Comments: The Internal Revenue Service (IRS) is
particularly interested in comments that:
Evaluate whether the proposed collection of information is
necessary 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 25, 2023.
Ronald J. Durbala,
IRS Tax Analyst.
[FR Doc. 2023-01869 Filed 1-30-23; 8:45 am]
BILLING CODE 4830-01-P
