Proposed Extension of Information Collection Request Submitted for Public Comment; Comment Request for Forms 3921 and 3922, 15263 [2024-04393]

Agencies

• Internal Revenue Service
• DEPARTMENT OF THE TREASURY

[Federal Register Volume 89, Number 42 (Friday, March 1, 2024)]
[Notices]
[Page 15263]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-04393]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Extension of Information Collection Request Submitted 
for Public Comment; Comment Request for Forms 3921 and 3922

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

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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 the burden associated with information reporting 
requirements under Internal Revenue Service code section 6039, Form 
3921, Exercise of an Incentive Stock Option Under Section 422(b), and 
Form 3922, Transfer of Stock Acquired through an Employee Stock 
Purchase Plan Under Section 423(c).

DATES: Written comments should be received on or before April 30, 2024 
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: 1545-2129--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: Information Reporting Requirements under Code sec. 6039.
    OMB Number: 1545-2129.
    Document Number: Forms 3921 and 3922.
    Abstract: Form 3921 is a copy of the information return filed with 
the Internal Revenue Service by the corporation which transferred 
shares of stock to a recipient. Form 3922 is used by the corporation to 
record a transfer of the legal title of a share of stock acquired by 
the employee where the stock was acquired pursuant to the exercise of 
an option described in Internal Revenue Code section 423(c). Treasury 
Decision 9470 contains the final regulations relating to the return and 
information statement requirements under Internal Revenue Code section 
6039. These regulations reflect changes to section 6039 made by section 
403 of the Tax Relief and Health Care Act of 2006.
    Current Actions: There are no changes to the burden previously 
approved by OMB. This request is to extend the current approval for 
another 3 years.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business and other for-profit organizations.
    Estimated Number of Respondents: 51,000.
    Estimated Time per Respondent: 29 min.
    Estimated Total Annual Burden Hours: 25,505.
    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: February 27, 2024.
Ronald J. Durbala,
IRS Tax Analyst.
[FR Doc. 2024-04393 Filed 2-29-24; 8:45 am]
BILLING CODE 4830-01-P