Proposed Collection; Requesting Comments on Form 8838, 61669-61670 [2023-19342]
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Federal Register / Vol. 88, No. 172 / Thursday, September 7, 2023 / Notices
Dated: August 31, 2023.
Andrea M. Gacki,
Director, Office of Foreign Assets Control,
U.S. Department of the Treasury.
[FR Doc. 2023–19230 Filed 9–6–23; 8:45 am]
BILLING CODE 4810–AL–C
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Requesting
Comments on Form 8838
Internal Revenue Service (IRS),
Treasury.
AGENCY:
Notice and request for
comments.
ACTION:
VerDate Sep<11>2014
19:19 Sep 06, 2023
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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 Form 8838,
Consent To Extend the Time To Assess
SUMMARY:
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ddrumheller on DSK120RN23PROD with NOTICES1
Authorities: E.O. 13687, 80 FR 819, 3
CFR, 2015 Comp., p. 259.
61669
ddrumheller on DSK120RN23PROD with NOTICES1
61670
Federal Register / Vol. 88, No. 172 / Thursday, September 7, 2023 / Notices
Tax Under Section 367-Gain
Recognition Agreement.
DATES: Written comments should be
received on or before November 6, 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. 1545–1395 in
the subject line of the message.
FOR FURTHER INFORMATION CONTACT:
Requests for additional information or
copies of this collection should be
directed to Jon Callahan, (737) 800–
7639, at Internal Revenue Service, Room
6526, 1111 Constitution Avenue NW,
Washington, DC 20224, or through the
internet at jon.r.callahan@irs.gov.
SUPPLEMENTARY INFORMATION:
The IRS is currently seeking
comments concerning the following
information collection tools, reporting,
and record-keeping requirements:
Title: Consent To Extend the Time To
Assess Tax Under Section 367-Gain
Recognition Agreement.
OMB Number: 1545–1395.
Form Number: Form 8838.
Abstract: Form 8838 is used to extend
the statute of limitations for U.S.
persons who transfer stock or securities
to a foreign corporation. The form is
filed when the transferor makes a gain
recognition agreement. This agreement
allows the transferor to defer the
payment of tax on the transfer. The IRS
uses Form 8838 so that it may assess tax
against the transferor after the
expiration of the original statute of
limitations. The estimates in this notice
are for estates, trusts, and tax-exempt
organizations filing Form 8838.
Current Actions: There is no change to
the existing collection. However, the
estimated number of responses was
reduced to eliminate duplication of
burden estimates. The estimated burden
for individuals filing Form 8838 is
approved under OMB control number
1545–0074, and the estimated burden
for businesses filing Form 8838 is
approved under OMB control number
1545–0123.
Type of Review: Extension of a
currently approved collection.
Affected Public: Business or other forprofit organizations.
Estimated Number of Responses: 200.
Estimated Time Per Respondent: 8
hours, 14 minutes.
Estimated Total Annual Burden
Hours: 1,646.
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
VerDate Sep<11>2014
19:19 Sep 06, 2023
Jkt 259001
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: September 1, 2023.
Jon R. Callahan,
Senior Tax Analyst.
[FR Doc. 2023–19342 Filed 9–6–23; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Requesting
Comments on Form 706 and Schedule
R–1 (Form 706)
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 Form 706, United
States Estate (and Generation-Skipping
Transfer) Tax Return, and Schedule R–
1 (Form 706), Generation-Skipping
Transfer Tax.
SUMMARY:
PO 00000
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Fmt 4703
Sfmt 4703
Written comments should be
received on or before November 6, 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. 1545–0015 in
the subject line of the message.
FOR FURTHER INFORMATION CONTACT:
Requests for additional information or
copies of this collection should be
directed to Jon Callahan, (737) 800–
7639, at Internal Revenue Service, Room
6526, 1111 Constitution Avenue NW,
Washington, DC 20224, or through the
internet at jon.r.callahan@irs.gov.
SUPPLEMENTARY INFORMATION: The IRS is
currently seeking comments concerning
the following information collection
tools, reporting, and record-keeping
requirements:
Title: United States Estate (and
Generation-Skipping Transfer) Tax
Return.
OMB Number: 1545–0015.
Form Number: Form 706, and
Schedule R–1 (Form 706).
Abstract: Executors use Form 706 to
report and compute the Federal Estate
Tax imposed by Internal Revenue Code
(IRC) section 2001 and the Federal
Generation Skipping Tax, imposed by
IRC section 2601. The IRS uses the
information to enforce these taxes and
to verify that the tax has been properly
computed. Schedule R–1 (Form 706)
serves as a payment voucher for the
Generation-Skipping Transfer (GST) tax
imposed on a direct skip from a trust,
which the trustee of the trust, must pay.
Current Actions: There is no change
to the existing collection. However, the
estimated number of responses was
reduced based on current filing data.
Type of Review: Extension of a
currently approved collection.
Affected Public: Individuals or
Households; and Businesses or other
for-profit organizations.
Estimated Number of Responses:
14,267.
Estimated Time Per Respondent: 36
hours, 14 minutes.
Estimated Total Annual Burden
Hours: 517,090.
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
DATES:
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]]>Agencies
[Federal Register Volume 88, Number 172 (Thursday, September 7, 2023)]
[Notices]
[Pages 61669-61670]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-19342]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Requesting Comments on Form 8838
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 Form 8838, Consent To Extend the Time To Assess
[[Page 61670]]
Tax Under Section 367-Gain Recognition Agreement.
DATES: Written comments should be received on or before November 6,
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.
1545-1395 in the subject line of the message.
FOR FURTHER INFORMATION CONTACT: Requests for additional information
or copies of this collection should be directed to Jon Callahan, (737)
800-7639, at Internal Revenue Service, Room 6526, 1111 Constitution
Avenue NW, Washington, DC 20224, or through the internet at
[email protected].
SUPPLEMENTARY INFORMATION:
The IRS is currently seeking comments concerning the following
information collection tools, reporting, and record-keeping
requirements:
Title: Consent To Extend the Time To Assess Tax Under Section 367-
Gain Recognition Agreement.
OMB Number: 1545-1395.
Form Number: Form 8838.
Abstract: Form 8838 is used to extend the statute of limitations
for U.S. persons who transfer stock or securities to a foreign
corporation. The form is filed when the transferor makes a gain
recognition agreement. This agreement allows the transferor to defer
the payment of tax on the transfer. The IRS uses Form 8838 so that it
may assess tax against the transferor after the expiration of the
original statute of limitations. The estimates in this notice are for
estates, trusts, and tax-exempt organizations filing Form 8838.
Current Actions: There is no change to the existing collection.
However, the estimated number of responses was reduced to eliminate
duplication of burden estimates. The estimated burden for individuals
filing Form 8838 is approved under OMB control number 1545-0074, and
the estimated burden for businesses filing Form 8838 is approved under
OMB control number 1545-0123.
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 Respondent: 8 hours, 14 minutes.
Estimated Total Annual Burden Hours: 1,646.
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: September 1, 2023.
Jon R. Callahan,
Senior Tax Analyst.
[FR Doc. 2023-19342 Filed 9-6-23; 8:45 am]
BILLING CODE 4830-01-P
