Agency Information Collection Activities; Submission for OMB Review; Comment Request; Multiple Internal Revenue Service (IRS) Information Collection Requests, 12442-12445 [2023-03976]
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12442
Federal Register / Vol. 88, No. 38 / Monday, February 27, 2023 / Notices
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.
SUPPLEMENTARY INFORMATION:
Departmental Offices (DO)
ddrumheller on DSK120RN23PROD with NOTICES
Title: Coronavirus Capital Projects
Fund.
OMB Control Number: 1505–0277.
Type of Review: Revision of a
currently approved collection.
Description: Section 604 of the Social
Security Act (the ‘‘Act’’), as added by
section 9901 of the American Rescue
Plan Act of 2021, Public Law 117–2
(Mar. 11, 2021) established the
Coronavirus Capital Projects Fund
(‘‘CPF’’). The CPF provides $10 billion
in funding for the U.S. Department of
the Treasury (‘‘Treasury’’) to make
payments according to a statutory
formula to States (defined to include
each of the 50 states, the District of
Columbia, and Puerto Rico), seven
territories and freely associated states
(the United States Virgin Islands, Guam,
American Samoa, the Commonwealth of
the Northern Mariana Islands, the
Republic of the Marshall Islands, the
Federated States of Micronesia, and the
Republic of Palau), and Tribal
governments 1 to carry out critical
capital projects directly enabling work,
education, and health monitoring,
including remote options, in response to
the public health emergency with
respect to the Coronavirus Disease
(COVID–19).
The current information collection is
being used to solicit information related
to quarterly project and expenditure
reports and annual performance reports
submitted by CPF recipients that are
states, territories, or freely associated
states. For these recipients, the
information collection is being renewed
without changes.
Treasury is adding to this information
collection Compliance and Reporting
Guidance that will be used to solicit
information related to annual project,
expenditure and performance reports
1 An eligible Tribal government is the recognized
governing body of any Indian or Alaska Native
tribe, band, nation, pueblo, village, community,
component band, or component reservation,
individually identified (including parenthetically)
in the list published most recently as of the date
of enactment of this Act pursuant to section 104 of
the Federally Recognized Indian Tribe List Act of
1994 (25 U.S.C. 5131). The State of Hawaii, for
exclusive use of the Department of Hawaiian Home
Lands and the Native Hawaiian Education Programs
to assist Native Hawaiians, is also eligible to apply
for funding under this funding category.
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submitted by CPF recipients that are
Tribal governments.
The Compliance and Reporting
Guidance provides recipients with
information needed to fulfill their
reporting requirements and compliance
obligations. Data is submitted to
Treasury using a web-based portal and
in accordance with specific data
requirements.
Project and expenditure reports must
be submitted quarterly for the duration
of the period of performance for States,
territories, and freely associated states,
and annually for the duration of the
period of performance for Tribal
governments. The project and
expenditure report contains a set of
standardized questions to ascertain the
recipient’s use of funds received as of
the date of reporting, as well as the
status of individual projects. Treasury
will make the data submitted by
recipients publicly available.
Performance reports must be
submitted annually for all recipients for
the duration of the period of
performance. For states, territories, and
freely associated states, the performance
report will contain detailed performance
data corresponding to the ‘‘Programs’’
specified previously in a recipient’s
Grant Plan. This will include
information on efforts to improve equity
and engage communities. The
performance report is largely freely
written text, and while there are certain
data and topics that recipients must
cover in the performance report, it is
mostly free-form written content.
Recipients are required to publish the
performance report on their website and
provide the reports to Treasury.
Treasury will make the performance
reports and associated data submitted
by recipients publicly available. For
Tribal governments, the performance
report will also be free-form written
content, but is shorter and less detailed.
Form: Compliance and Reporting
Guidance for States, Territories, and
Freely Associated States; Compliance
and Reporting Guidance for Tribal
Governments.
Affected Public: State, Territorial,
Freely Associated State, and Tribal
governments receiving CPF grant funds.
Estimated Number of Respondents:
609.
Frequency of Response: States,
territories, and freely associated states: 4
times per year for project and
expenditure reports, and 1 time per year
for performance reports; Tribal
governments: 1 time per year.
Estimated Total Number of Annual
Responses: 845.
Estimated Time per Response: 62
hours for State project and expenditure
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reports. 80 hours for State performance
reports. 50 hours for Tribal annual
reports.
Estimated Total Annual Burden
Hours: 46,852.
Authority: 44 U.S.C. 3501 et seq.
Melody Braswell,
Treasury PRA Clearance Officer.
[FR Doc. 2023–03956 Filed 2–24–23; 8:45 am]
BILLING CODE 4810–AL–P
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 of Information
Collection, request for comment.
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 March 29, 2023 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.
SUPPLEMENTARY INFORMATION:
SUMMARY:
Internal Revenue Service
1. Title: Forest Activities Schedule.
OMB Number: 1545–0007.
Form Number: Form T.
Abstract: Taxpayers use Form T to
provide information on timber accounts
when a sale or deemed sale under
Internal Revenue Code (IRC) sections
631(a), 631(b), or other exchange has
occurred during the tax year. The IRS
uses this information to determine if the
taxpayer reported the correct amount of
income and deductions.
Type of Review: Extension of a
currently approved collection.
Affected Public: Private sector.
Estimated Number of Responses: 10.
Estimated Time per Respondent: 36
hours, 11 minutes.
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Federal Register / Vol. 88, No. 38 / Monday, February 27, 2023 / Notices
Estimated Total Annual Burden
Hours: 362.
2. Title: United States Additional
Estate Tax Return.
OMB Number: 1545–0016.
Form Number: 706–A.
Abstract: Form 706–A is used by
individuals to compute and pay the
additional estate taxes due under Code
section 2032A(c). IRS uses the
information to determine that the taxes
have been properly computed. The form
is also used for the basis election of
section 1016(c)(1).
Type of Review: Extension of a
currently approved collection.
Affected Public: Individuals or
households.
Estimated Number of Respondents:
180.
Estimated Time per Respondent: 1
hour, 19 minutes.
Estimated Total Annual Burden
Hours: 1,678.
3. Title: Consent of Shareholder To
Include Specific Amount in Gross
Income.
OMB Number: 1545–0043.
Form Number: 972.
Abstract: Form 972 is filed by
shareholders of corporations who agree
to include a consent dividend in gross
income as a taxable dividend. The IRS
uses Form 972 as a check to see if an
amended return is filed by the
shareholder to include the amount in
income and to determine if the
corporation claimed the correct amount
as a deduction on its tax return.
Type of Review: Extension of a
currently approved collection.
Affected Public: Business or other forprofit organizations.
Estimated Number of Respondents:
100.
Estimated Time per Respondent: 3
hrs, 51 min.
Estimated Total Annual Burden
Hours: 385.
4. Title: Dividends and Distributions.
OMB Number: 1545–0110.
Form Number: Form 1099–DIV.
Abstract: Form 1099–DIV is used by
the IRS to ensure that dividends are
properly reported as required by
Internal Revenue Code section 6402,
that liquidation distributions are
correctly reported as required by
Internal Revenue Code section 6403,
and to determine whether payees are
correctly reporting their income.
Current Actions: There is an increase
in the estimated number of respondents
previously approved by OMB.
Type of Review: Revision of a
currently approved collection.
Affected Public: Business or other forprofit groups.
Estimated Number of Respondents:
89,588,000.
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Estimated Time per Respondent: 28
minutes.
Estimated Total Annual Burden
Hours: 42,106,360.
5. Title: U.S. Departing Alien Income
Tax Statement.
OMB Number: 1545–0138.
Form Number: 2063.
Abstract: Form 2063 is used by a
departing resident alien against whom a
termination assessment has not been
made, or a departing nonresident alien
who has no taxable income from United
States sources, to certify that they have
satisfied all U.S. income tax obligations.
The data is used by the IRS to certify
that departing aliens have complied
with U.S. income tax laws.
Type of Review: Extension of a
currently approved collection.
Affected Public: Individuals or
households.
Estimated Number of Responses:
20,540.
Estimated Time per Response: 50
minutes.
Estimated Total Annual Burden
Hours: 17,049.
6. 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.
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.
7. Title: Occupational Tax and
Registration Return for Wagering.
OMB Number: 1545–0236.
Form Number: 11–C.
Abstract: Form 11–C is used to
register persons accepting wagers, as
required by Internal Revenue Code
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12443
section 4412. The IRS uses this form to
register the respondent, collect the
annual stamp tax imposed by Code
section 4411, and to verify that the tax
on wagers is reported on Form 730,
Monthly Tax Return for Wagers.
Type of Review: Extension of a
currently approved collection.
Affected Public: Business or other forprofit organizations and individuals.
Estimated Number of Respondents:
11,500.
Estimated Time per Respondent: 7
hours, 4 minutes.
Estimated Total Annual Burden
Hours: 81,190 hours.
8. Title: TD 7918, Creditability of
Foreign Taxes.
OMB Number: 1545–0746.
Form 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.
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.
9. Title: Interest Charge on DISCRelated Deferred Tax Liability.
OMB Number: 1545–0939.
Form Number: 8404.
Abstract: Shareholders of Interest
Charge Domestic International Sales
Corporations (IC–DISCs) use Form 8404
to figure and report an interest charge
on their DISC-related deferred tax
liability. The interest charge is required
by Internal Revenue Code section 995(f).
IRS uses Form 8404 to determine
whether the shareholder has correctly
figured and paid the interest charge on
a timely basis.
Type of Review: Extension of a
currently approved collection.
Affected Public: Business or other forprofit organizations, and individuals or
households.
Estimated Number of Respondents:
2,000.
Estimated Time per Respondent: 7
hours, 47 minutes.
Estimated Total Annual Burden
Hours: 15,580 hours.
10. Title: Generation-Skipping
Transfer Tax Return for Distributions.
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Federal Register / Vol. 88, No. 38 / Monday, February 27, 2023 / Notices
OMB Number: 1545–1144.
Form Number: Form 706–GS (D).
Abstract: Form 706–GS(D) is used by
persons who receive taxable
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.
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.
11. Title: Debt Instruments with OID;
Contingent Payments; Anti-Abuse Rule.
OMB Number: 1545–1450.
Form Number: TD 8674.
Abstract: This regulation relates to the
tax treatment of debt instruments that
provide for one or more contingent
payments. The regulation also treats a
debt instrument and a related hedge as
an integrated transaction. The regulation
provides general rules, definitions, and
reporting and recordkeeping
requirements for contingent payment
debt instruments and for integrated debt
instruments.
Type of Review: Extension of a
currently approved collection.
Affected Public: Business or other forprofit organizations, individuals, and
state, local, or tribal governments.
Estimated Number of Respondents:
180,000.
Estimated Time per Respondent: 29
minutes.
Estimated Total Annual Burden
Hours: 89,000.
12. Title: TD 8649, Netting Rule for
Certain Conversion Transactions.
OMB Number: 1545–1452.
Form Number: TD 8649
Abstract: Internal Revenue Code (IRC)
section 1258 recharacterizes capital
gains from conversion transactions as
ordinary income to the extent of the
time value element. Treasury
Regulations section 1.1258–1 provides
that certain gains and losses may be
netted for purposes of determining the
amount of gain recharacterized. To be
eligible for netting relief, the taxpayer
must identify on its books and records
all the positions that are part of the
conversion transaction before the close
of the day on which the positions
become part of the conversion
transaction.
Type of Review: Extension of a
currently approved collection.
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Affected Public: Individuals and
households, business or other for-profit
organizations.
Estimated Number of Responses:
50,000.
Estimated Time per Respondent: 6
minutes.
Estimated Total Annual Burden
Hours: 5,000.
13. Title: Guidance Regarding
Deduction and Capitalization of
Expenditures.
OMB Number: 1545–1870.
Form Number: TD 9107.
Abstract: The information required to
be retained by taxpayers will constitute
enough documentation for purposes of
substantiating a deduction. The
information will be used by the agency
on audit to determine the taxpayer’s
entitlement to a deduction. The
respondents include taxpayers who
engage in certain transactions involving
the acquisition of a trade or business or
an ownership interest in a legal entity.
Type of Review: Extension of a
currently approved collection.
Affected Public: Business or other forprofit organizations.
Estimated Number of Respondents:
3,000.
Estimated Time per Respondent: 1
hour.
Estimated Total Annual Burden
Hours: 3,000.
14. Title: Regulations Governing
Practice Before the Internal Revenue
Service.
OMB Number: 1545–1871.
Form Number: T.D. 9165.
Abstract: These regulations will
ensure that taxpayers are provided
adequate information regarding the
limits of tax shelter advice that they
receive and ensure, that practitioners
properly advise taxpayers of relevant
information with respect to tax shelter
options.
Type of Review: Extension of a
currently approved collection.
Affected Public: Business or other forprofit organizations, and individuals or
households.
Estimated Number of Respondents:
100,000.
Estimated Time per Respondent: 8
hours.
Estimated Total Annual Burden
Hours: 13,333 hours.
15. Title: Information Return of U.S.
Persons With Respect To Foreign
Disregarded Entities; and Transactions
Between Foreign Disregarded Entity of a
Foreign Tax Owner and the Filer.
OMB Number: 1545–1910.
Form Number: Form 8858 and Sch M
(Form 8858).
Abstract: Form 8858 and Schedule M
(Form 8858) are used by certain U.S.
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persons that own a foreign disregarded
entity (FDE) directly or, in certain
circumstances, indirectly or
constructively.
Type of Review: Extension of a
currently approved collection.
Affected Public: Business or other forprofit organizations, and individuals or
households.
Form 8858:
Estimated Number of Respondents:
20,000.
Estimated Time per Respondent:
35.99 hours.
Estimated Total Annual Burden
Hours: 719,800.
Form 8858 (Sch M):
Estimated Number of Respondents:
8,000.
Estimated Time per Respondent:
24.75 hours.
Estimated Total Annual Burden
Hours: 198,000 hours.
16. Title: Application to Participate in
the Income Verification Express Service
(IVES) Program.
OMB Number: 1545–2032.
Form Number: 13803.
Abstract: Form 13803, Application to
Participate in the Income Verification
Express Service (IVES) Program, is used
to submit the required information
necessary to complete the e-services
enrollment process for IVES users and
to identify delegates receiving
transcripts on behalf of the principal
account user.
Type of Review: Extension of a
currently approved collection.
Affected Public: Businesses and other
for-profit organizations.
Estimated Number of Respondents:
200.
Estimated Time per Respondent: 30
mins.
Estimated Total Annual Burden
Hours: 100.
17. Title: Employment Tax
Adjustments; and Rules Relating to
Additional Medicare Tax.
OMB Number: 1545–2097.
Form Numbers: TD 9405, TD 9645.
Abstract: This document contains
final regulations relating to employment
tax adjustments and employment tax
refund claims. These regulations modify
the process for making interest-free
adjustments for both underpayments
and overpayments of Federal Insurance
Contributions Act (FICA) and Railroad
Retirement Tax Act (RRTA) taxes and
federal income tax withholding (ITW)
under sections 6205(a) and 6413(a),
respectively, of the Internal Revenue
Code (Code).
Type of Review: Extension of a
currently approved collection.
Affected Public: Businesses and other
for-profit organizations.
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Federal Register / Vol. 88, No. 38 / Monday, February 27, 2023 / Notices
For Discussion and Possible
Subcommittee Action
The Subcommittee Agenda will be
reviewed, and the Subcommittee will
consider adoption.
Ground Rules
➢ Subcommittee action only to be
taken in designated areas on agenda
Melody Braswell,
IV. Mission of the Subcommittee—UCR
Treasury PRA Clearance Officer.
Enforcement Subcommittee Chair
For Discussion and Possible
[FR Doc. 2023–03976 Filed 2–24–23; 8:45 am]
Subcommittee Action
BILLING CODE 4830–01–P
The UCR Enforcement Subcommittee
Chair will lead discussion to establish a
mission statement of the Subcommittee.
UNIFIED CARRIER REGISTRATION
The Subcommittee may consider and
PLAN
take action to establish a mission
statement.
Sunshine Act Meetings
V. Subcommittee Goals and
Responsibilities—UCR Enforcement
TIME AND DATE: March 2, 2023, 8:00 a.m.
Subcommittee Chair
to 5:00 p.m., Eastern time.
For Discussion and Possible
PLACE: This meeting will take place at
Subcommittee Action
the Sheraton Virginia Beach Oceanfront,
The Subcommittee will discuss the
3501 Atlantic Avenue, Virginia Beach,
establishment of goals and
VA 23451. The meeting will also be
responsibilities for the Subcommittee.
accessible via conference call and via
The Subcommittee may consider and
Zoom Meeting and Screenshare. Any
take action to establish goals and
interested person may call (i) 1–929–
responsibilities for the Subcommittee.
205–6099 (US Toll) or 1–669–900–6833 VI. Review and Discussion of 2022
(US Toll), Meeting ID: 915 0493 1016, to
Enforcement Activities—UCR
listen and participate in this meeting.
Enforcement Subcommittee Chair
The website to participate via Zoom
The Subcommittee will review tools
and activities undertaken in 2022 to
Meeting and Screenshare is https://
conduct enforcement activities.
kellen.zoom.us/meeting/register/tJUodVII. NRS Tools—UCR Enforcement
2hrToqG9IKX1BM_
Subcommittee Chair, Seikosoft
YbB6S5vEnGZwCNk.
Representative, DSL Transportation
STATUS: This meeting will be open to the
Services, Inc.
public.
The Subcommittee Chair, Seikosoft
MATTERS TO BE CONSIDERED: The Unified
Representative, and DSL Transportation
Carrier Registration Plan Enforcement
Services, Inc., will review various tools
Subcommittee (the ‘‘Subcommittee’’)
and reports available in the NRS system
will continue its work in developing
that are available to support
and implementing the Unified Carrier
enforcement activities. As part of this
Registration Plan and Agreement. The
review, the Subcommittee will also look
subject matter of this meeting will
at the current enforcement portal and
include:
discuss whether, at this time, there are
additional features the Subcommittee
Proposed Agenda
would like the enforcement portal to
I. Call to Order—UCR Enforcement
contain.
Subcommittee Chair
VIII. Discussion of Data Sources
The Subcommittee Chair will
Currently Available to States and
welcome attendees, call the meeting to
Other Helpful Sources—UCR
order, call roll for the Subcommittee,
Enforcement Subcommittee Chair
confirm whether a quorum is present,
The Subcommittee will identify key
and facilitate self-introductions.
tools and sources of UCR data available
II. Verification of Publication of Meeting to states, the differences in availability
Notice—UCR Executive Director
of these sources between states, and
The UCR Executive Director will
collect information on what would be
verify the publication of the meeting
helpful to provide.
notice on the UCR website and
IX. Discussion of Should-Have-Beens—
distribution to the UCR contact list via
UCR Enforcement Subcommittee
email followed by the subsequent
Chair, DSL Transportation Services,
publication of the notice in the Federal
Inc.
The Subcommittee Chair will review
Register.
discussions from previous UCR
III. Review and Approval of
Subcommittee and UCR Board of
Subcommittee Agenda and Setting
Directors Meetings regarding the use of
of Ground Rules—UCR
Should-Have-Beens (SHBs).
Enforcement Subcommittee Chair
ddrumheller on DSK120RN23PROD with NOTICES
Estimated Number of Respondents:
3,400,000.
Estimated Time per Respondent: 4
hrs., 58 mins.
Estimated Total Annual Burden
Hours: 16,900,000.
Authority: 44 U.S.C. 3501 et seq.
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X. Training—UCR Enforcement
Subcommittee Chair
The Subcommittee Chair will discuss
training opportunities for the
Subcommittee and those providing
enforcement services for the UCR Plan.
XI. Other Business—UCR Enforcement
Subcommittee Chair
The Subcommittee Chair will call for
any other items Subcommittee members
would like to discuss.
XII. Adjournment—UCR Enforcement
Subcommittee Chair
The Subcommittee Chair will adjourn
the meeting.
The agenda will be available no later
than 5:00 p.m. Eastern time, February
23, 2023 at: https://plan.ucr.gov.
CONTACT PERSON FOR MORE INFORMATION:
Elizabeth Leaman, Chair, Unified
Carrier Registration Plan Board of
Directors, (617) 305–3783, eleaman@
board.ucr.gov.
Alex B. Leath,
Chief Legal Officer, Unified Carrier
Registration Plan.
[FR Doc. 2023–04080 Filed 2–23–23; 11:15 am]
BILLING CODE 4910–YL–P
DEPARTMENT OF VETERANS
AFFAIRS
Privacy Act of 1974; System of
Records
Human Resources and
Administration/Operations, Security,
and Preparedness, Department of
Veterans Affairs (VA).
ACTION: Notice of a new system of
records.
AGENCY:
Pursuant to the Privacy Act of
1974, notice is hereby given that the
Department of Veterans Affairs (VA)
proposes to establish a new system of
records, entitled, ‘‘Insider Threat
Program-VA’’ (196VA007). This System
of Records allows VA to establish
capabilities to detect, deter, and mitigate
insider threats. VA will use the System
of Records to facilitate management of
insider threat inquiries; identify
potential threats to VA resources and
information assets; manage referrals of
potential insider threats to and from
internal and external partners; provide
authorized assistance to lawful
administrative, civil,
counterintelligence, and criminal
investigations; and provide statistical
reports and meet other insider threat
reporting requirements.
DATES: Comments on this new system of
records must be received no later than
30 days after date of publication in the
Federal Register. If no public comment
SUMMARY:
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]]>Agencies
[Federal Register Volume 88, Number 38 (Monday, February 27, 2023)]
[Notices]
[Pages 12442-12445]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-03976]
-----------------------------------------------------------------------
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 of Information Collection, request for comment.
-----------------------------------------------------------------------
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 March 29, 2023 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.
SUPPLEMENTARY INFORMATION:
Internal Revenue Service
1. Title: Forest Activities Schedule.
OMB Number: 1545-0007.
Form Number: Form T.
Abstract: Taxpayers use Form T to provide information on timber
accounts when a sale or deemed sale under Internal Revenue Code (IRC)
sections 631(a), 631(b), or other exchange has occurred during the tax
year. The IRS uses this information to determine if the taxpayer
reported the correct amount of income and deductions.
Type of Review: Extension of a currently approved collection.
Affected Public: Private sector.
Estimated Number of Responses: 10.
Estimated Time per Respondent: 36 hours, 11 minutes.
[[Page 12443]]
Estimated Total Annual Burden Hours: 362.
2. Title: United States Additional Estate Tax Return.
OMB Number: 1545-0016.
Form Number: 706-A.
Abstract: Form 706-A is used by individuals to compute and pay the
additional estate taxes due under Code section 2032A(c). IRS uses the
information to determine that the taxes have been properly computed.
The form is also used for the basis election of section 1016(c)(1).
Type of Review: Extension of a currently approved collection.
Affected Public: Individuals or households.
Estimated Number of Respondents: 180.
Estimated Time per Respondent: 1 hour, 19 minutes.
Estimated Total Annual Burden Hours: 1,678.
3. Title: Consent of Shareholder To Include Specific Amount in
Gross Income.
OMB Number: 1545-0043.
Form Number: 972.
Abstract: Form 972 is filed by shareholders of corporations who
agree to include a consent dividend in gross income as a taxable
dividend. The IRS uses Form 972 as a check to see if an amended return
is filed by the shareholder to include the amount in income and to
determine if the corporation claimed the correct amount as a deduction
on its tax return.
Type of Review: Extension of a currently approved collection.
Affected Public: Business or other for-profit organizations.
Estimated Number of Respondents: 100.
Estimated Time per Respondent: 3 hrs, 51 min.
Estimated Total Annual Burden Hours: 385.
4. Title: Dividends and Distributions.
OMB Number: 1545-0110.
Form Number: Form 1099-DIV.
Abstract: Form 1099-DIV is used by the IRS to ensure that dividends
are properly reported as required by Internal Revenue Code section
6402, that liquidation distributions are correctly reported as required
by Internal Revenue Code section 6403, and to determine whether payees
are correctly reporting their income.
Current Actions: There is an increase in the estimated number of
respondents previously approved by OMB.
Type of Review: Revision of a currently approved collection.
Affected Public: Business or other for-profit groups.
Estimated Number of Respondents: 89,588,000.
Estimated Time per Respondent: 28 minutes.
Estimated Total Annual Burden Hours: 42,106,360.
5. Title: U.S. Departing Alien Income Tax Statement.
OMB Number: 1545-0138.
Form Number: 2063.
Abstract: Form 2063 is used by a departing resident alien against
whom a termination assessment has not been made, or a departing
nonresident alien who has no taxable income from United States sources,
to certify that they have satisfied all U.S. income tax obligations.
The data is used by the IRS to certify that departing aliens have
complied with U.S. income tax laws.
Type of Review: Extension of a currently approved collection.
Affected Public: Individuals or households.
Estimated Number of Responses: 20,540.
Estimated Time per Response: 50 minutes.
Estimated Total Annual Burden Hours: 17,049.
6. 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.
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.
7. Title: Occupational Tax and Registration Return for Wagering.
OMB Number: 1545-0236.
Form Number: 11-C.
Abstract: Form 11-C is used to register persons accepting wagers,
as required by Internal Revenue Code section 4412. The IRS uses this
form to register the respondent, collect the annual stamp tax imposed
by Code section 4411, and to verify that the tax on wagers is reported
on Form 730, Monthly Tax Return for Wagers.
Type of Review: Extension of a currently approved collection.
Affected Public: Business or other for-profit organizations and
individuals.
Estimated Number of Respondents: 11,500.
Estimated Time per Respondent: 7 hours, 4 minutes.
Estimated Total Annual Burden Hours: 81,190 hours.
8. Title: TD 7918, Creditability of Foreign Taxes.
OMB Number: 1545-0746.
Form 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.
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.
9. Title: Interest Charge on DISC-Related Deferred Tax Liability.
OMB Number: 1545-0939.
Form Number: 8404.
Abstract: Shareholders of Interest Charge Domestic International
Sales Corporations (IC-DISCs) use Form 8404 to figure and report an
interest charge on their DISC-related deferred tax liability. The
interest charge is required by Internal Revenue Code section 995(f).
IRS uses Form 8404 to determine whether the shareholder has correctly
figured and paid the interest charge on a timely basis.
Type of Review: Extension of a currently approved collection.
Affected Public: Business or other for-profit organizations, and
individuals or households.
Estimated Number of Respondents: 2,000.
Estimated Time per Respondent: 7 hours, 47 minutes.
Estimated Total Annual Burden Hours: 15,580 hours.
10. Title: Generation-Skipping Transfer Tax Return for
Distributions.
[[Page 12444]]
OMB Number: 1545-1144.
Form Number: Form 706-GS (D).
Abstract: Form 706-GS(D) is used by persons who receive taxable
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.
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.
11. Title: Debt Instruments with OID; Contingent Payments; Anti-
Abuse Rule.
OMB Number: 1545-1450.
Form Number: TD 8674.
Abstract: This regulation relates to the tax treatment of debt
instruments that provide for one or more contingent payments. The
regulation also treats a debt instrument and a related hedge as an
integrated transaction. The regulation provides general rules,
definitions, and reporting and recordkeeping requirements for
contingent payment debt instruments and for integrated debt
instruments.
Type of Review: Extension of a currently approved collection.
Affected Public: Business or other for-profit organizations,
individuals, and state, local, or tribal governments.
Estimated Number of Respondents: 180,000.
Estimated Time per Respondent: 29 minutes.
Estimated Total Annual Burden Hours: 89,000.
12. Title: TD 8649, Netting Rule for Certain Conversion
Transactions.
OMB Number: 1545-1452.
Form Number: TD 8649
Abstract: Internal Revenue Code (IRC) section 1258 recharacterizes
capital gains from conversion transactions as ordinary income to the
extent of the time value element. Treasury Regulations section 1.1258-1
provides that certain gains and losses may be netted for purposes of
determining the amount of gain recharacterized. To be eligible for
netting relief, the taxpayer must identify on its books and records all
the positions that are part of the conversion transaction before the
close of the day on which the positions become part of the conversion
transaction.
Type of Review: Extension of a currently approved collection.
Affected Public: Individuals and households, business or other for-
profit organizations.
Estimated Number of Responses: 50,000.
Estimated Time per Respondent: 6 minutes.
Estimated Total Annual Burden Hours: 5,000.
13. Title: Guidance Regarding Deduction and Capitalization of
Expenditures.
OMB Number: 1545-1870.
Form Number: TD 9107.
Abstract: The information required to be retained by taxpayers will
constitute enough documentation for purposes of substantiating a
deduction. The information will be used by the agency on audit to
determine the taxpayer's entitlement to a deduction. The respondents
include taxpayers who engage in certain transactions involving the
acquisition of a trade or business or an ownership interest in a legal
entity.
Type of Review: Extension of a currently approved collection.
Affected Public: Business or other for-profit organizations.
Estimated Number of Respondents: 3,000.
Estimated Time per Respondent: 1 hour.
Estimated Total Annual Burden Hours: 3,000.
14. Title: Regulations Governing Practice Before the Internal
Revenue Service.
OMB Number: 1545-1871.
Form Number: T.D. 9165.
Abstract: These regulations will ensure that taxpayers are provided
adequate information regarding the limits of tax shelter advice that
they receive and ensure, that practitioners properly advise taxpayers
of relevant information with respect to tax shelter options.
Type of Review: Extension of a currently approved collection.
Affected Public: Business or other for-profit organizations, and
individuals or households.
Estimated Number of Respondents: 100,000.
Estimated Time per Respondent: 8 hours.
Estimated Total Annual Burden Hours: 13,333 hours.
15. Title: Information Return of U.S. Persons With Respect To
Foreign Disregarded Entities; and Transactions Between Foreign
Disregarded Entity of a Foreign Tax Owner and the Filer.
OMB Number: 1545-1910.
Form Number: Form 8858 and Sch M (Form 8858).
Abstract: Form 8858 and Schedule M (Form 8858) are used by certain
U.S. persons that own a foreign disregarded entity (FDE) directly or,
in certain circumstances, indirectly or constructively.
Type of Review: Extension of a currently approved collection.
Affected Public: Business or other for-profit organizations, and
individuals or households.
Form 8858:
Estimated Number of Respondents: 20,000.
Estimated Time per Respondent: 35.99 hours.
Estimated Total Annual Burden Hours: 719,800.
Form 8858 (Sch M):
Estimated Number of Respondents: 8,000.
Estimated Time per Respondent: 24.75 hours.
Estimated Total Annual Burden Hours: 198,000 hours.
16. Title: Application to Participate in the Income Verification
Express Service (IVES) Program.
OMB Number: 1545-2032.
Form Number: 13803.
Abstract: Form 13803, Application to Participate in the Income
Verification Express Service (IVES) Program, is used to submit the
required information necessary to complete the e-services enrollment
process for IVES users and to identify delegates receiving transcripts
on behalf of the principal account user.
Type of Review: Extension of a currently approved collection.
Affected Public: Businesses and other for-profit organizations.
Estimated Number of Respondents: 200.
Estimated Time per Respondent: 30 mins.
Estimated Total Annual Burden Hours: 100.
17. Title: Employment Tax Adjustments; and Rules Relating to
Additional Medicare Tax.
OMB Number: 1545-2097.
Form Numbers: TD 9405, TD 9645.
Abstract: This document contains final regulations relating to
employment tax adjustments and employment tax refund claims. These
regulations modify the process for making interest-free adjustments for
both underpayments and overpayments of Federal Insurance Contributions
Act (FICA) and Railroad Retirement Tax Act (RRTA) taxes and federal
income tax withholding (ITW) under sections 6205(a) and 6413(a),
respectively, of the Internal Revenue Code (Code).
Type of Review: Extension of a currently approved collection.
Affected Public: Businesses and other for-profit organizations.
[[Page 12445]]
Estimated Number of Respondents: 3,400,000.
Estimated Time per Respondent: 4 hrs., 58 mins.
Estimated Total Annual Burden Hours: 16,900,000.
Authority: 44 U.S.C. 3501 et seq.
Melody Braswell,
Treasury PRA Clearance Officer.
[FR Doc. 2023-03976 Filed 2-24-23; 8:45 am]
BILLING CODE 4830-01-P
