Proposed Collection; Comment Request for Certain Transfers of Domestic Stock or Securities by U.S. Persons to Foreign Corporations, 80388 [2023-25410]
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80388
Federal Register / Vol. 88, No. 221 / Friday, November 17, 2023 / Notices
Notice Number: Notice 2005–62.
Abstract: Notice 2005–04 provides
guidance on certain excise tax Code
provisions that were added or effected
by the American Jobs Creation Act of
2004. The information will be used by
the IRS to verify that the proper amount
of tax is reported, excluded, refunded,
or credited. This notice is modified and
expanded by Notices 2005–24, 2005–62,
and 2005–80.
Current Actions: There are no changes
being made to the notice at this time.
Type of Review: Extension of a
currently approved collection.
Estimated Time per Respondent: .48
hours.
Estimated Total Annual Burden
Hours: 76,190.
The following paragraph applies to all
of the collections of information covered
by this notice:
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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.
Jkt 262001
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment
Request for Certain Transfers of
Domestic Stock or Securities by U.S.
Persons to Foreign Corporations
Internal Revenue Service (IRS),
Treasury.
ACTION: Notice and request for
comments.
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 certain transfers of domestic
stock or securities by U.S. persons to
foreign corporations.
DATES: Written comments should be
received on or before January 16, 2024
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.
Please include the OMB Control
Number 1545–1478 or TD 8702 in the
Subject line.
FOR FURTHER INFORMATION CONTACT:
Requests for additional information or
copies of the form should be directed to
Kerry Dennis, 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: Certain Transfers of Domestic
Stock or Securities by U.S. Persons to
Foreign Corporations.
OMB Number: 1545–1478.
Regulation Project Number: TD 8702.
Abstract: The regulation relates to
certain transfers of stock or securities of
domestic corporations pursuant to the
corporate organization, reorganization,
or liquidation provisions of the internal
Revenue Code. Transfers of stock or
securities by U.S. persons in tax-free
transactions are treated as taxable
transactions when the acquirer is a
SUMMARY:
Estimated Number of Responses:
157,963.
18:57 Nov 16, 2023
[FR Doc. 2023–25411 Filed 11–16–23; 8:45 am]
AGENCY:
Affected Public: Business or other forprofit organizations, not-for-profit
institutions, farms, Federal, state, local
or tribal governments.
VerDate Sep<11>2014
Approved: October 31, 2023.
Sara L. Covington,
IRS Tax Analyst.
PO 00000
Frm 00120
Fmt 4703
Sfmt 4703
foreign corporation, unless an exception
applies under Code section 367(a). This
regulation provides that no U.S. person
will qualify for an exception unless the
U.S. target company complies with
certain reporting requirements.
Current Actions: There are no changes
being made to the regulations at this
time.
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: 10
minutes.
Estimated Total Annual Burden
Hours: 1,000.
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.
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: October 31, 2023.
Sara L. Covington,
IRS Tax Analyst.
[FR Doc. 2023–25410 Filed 11–16–23; 8:45 am]
BILLING CODE 4830–01–P
E:\FR\FM\17NON1.SGM
17NON1
]]>Agencies
[Federal Register Volume 88, Number 221 (Friday, November 17, 2023)]
[Notices]
[Page 80388]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-25410]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment Request for Certain Transfers of
Domestic Stock or Securities by U.S. Persons to Foreign Corporations
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
continuing information collections, as required by the Paperwork
Reduction Act of 1995. The IRS is soliciting comments concerning
certain transfers of domestic stock or securities by U.S. persons to
foreign corporations.
DATES: Written comments should be received on or before January 16,
2024 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]. Please include the OMB
Control Number 1545-1478 or TD 8702 in the Subject line.
FOR FURTHER INFORMATION CONTACT: Requests for additional information or
copies of the form should be directed to Kerry Dennis, at (202) 317-
5744 or Internal Revenue Service, Room 6526, 1111 Constitution Avenue
NW, Washington, DC 20224, or through the internet, at
[email protected].
SUPPLEMENTARY INFORMATION:
Title: Certain Transfers of Domestic Stock or Securities by U.S.
Persons to Foreign Corporations.
OMB Number: 1545-1478.
Regulation Project Number: TD 8702.
Abstract: The regulation relates to certain transfers of stock or
securities of domestic corporations pursuant to the corporate
organization, reorganization, or liquidation provisions of the internal
Revenue Code. Transfers of stock or securities by U.S. persons in tax-
free transactions are treated as taxable transactions when the acquirer
is a foreign corporation, unless an exception applies under Code
section 367(a). This regulation provides that no U.S. person will
qualify for an exception unless the U.S. target company complies with
certain reporting requirements.
Current Actions: There are no changes being made to the regulations
at this time.
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: 10 minutes.
Estimated Total Annual Burden Hours: 1,000.
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.
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: October 31, 2023.
Sara L. Covington,
IRS Tax Analyst.
[FR Doc. 2023-25410 Filed 11-16-23; 8:45 am]
BILLING CODE 4830-01-P
