Agency Information Collection Activities; Submission for OMB Review; Comment Request; Multiple Internal Revenue Service (IRS) Information Collection Requests, 46990-46991 [2024-11860]

Agencies

• DEPARTMENT OF THE TREASURY

[Federal Register Volume 89, Number 105 (Thursday, May 30, 2024)]
[Notices]
[Pages 46990-46991]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-11860]



[[Page 46990]]

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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, Department of the Treasury.

ACTION: Notice.

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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 July 1, 2024 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.

FOR FURTHER INFORMATION CONTACT: Copies of the submissions may be 
obtained from Melody Braswell by emailing [email protected], calling 
(202) 622-1035, or viewing the entire information collection request at 
www.reginfo.gov.

SUPPLEMENTARY INFORMATION:

Internal Revenue Service (IRS)

    1. Title: Power of Attorney and Declaration of Representative.
    OMB Number: 1545-0150.
    Form Number: 2848 and 2848 (SP).
    Abstract: Form 2848 or Form 2848 (SP) is issued to authorize 
someone to act for the taxpayer in tax matters. It grants all powers 
that the taxpayer has except signing a return and cashing refund 
checks. The information on the form is used to identify representatives 
and to ensure that confidential information is not divulged to 
unauthorized persons.
    Current Actions: There are no changes being made to the forms at 
this time, however the estimated number of responses were reduced based 
on the current filing data.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals or households, business or other for-
profit organizations, not-for-profit institutions, and farms.

Form 2848

    Estimated Number of Respondents: 378,087.
    Estimated Time per Respondent: 1.99 hours.
    Estimated Total Annual Burden Hours: 752,393 hours.

Form 2848 (SP)

    Estimated Number of Respondents: 80,000.
    Estimated Time per Respondent: 2.26 hours.
    Estimated Total Annual Burden Hours: 180,800 hours.
    2. Title: Sale of Residence from Qualified Personal Residence 
Trust.
    OMB Number: 1545-1485.
    Form Project Number: TD 8743.
    Abstract: Internal Revenue Code section 2702(a)(3) provides special 
favorable valuation rules for valuing the gift of a personal residence 
trust. Regulation section 25.2702-5(a)(2) provides that if the trust 
fails to comply with the requirements contained in the regulations, the 
trust will be treated as complying if a statement is attached to the 
gift tax return reporting the gift stating that a proceeding has been 
commenced to reform the instrument to comply with the requirements of 
the regulations.
    Current Actions: There is no change in the paperwork burden 
previously approved by OMB.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals and households.
    Estimated Number of Responses: 300.
    Estimated Time per Respondent: 2 Hrs., 5 Min.
    Estimated Total Annual Burden Hours: 625.
    3. Title: Pre-Approved Plans Program.
    OMB Number: 1545-1674.
    Revenue Procedure: 2023-37
    Abstract: Revenue Procedure 2023-37, and its successors, set forth 
the procedures of the IRS for issuing opinion letters confirming that 
the form of a provider's plan satisfies the qualification requirements 
under the Internal Revenue Code. The OMB approval for 1545-1674 is only 
covering the third-party disclosures and recordkeeping requirements.
    Current Actions: There are no changes being made to the revenue 
procedure or burden at this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations, not-
for-profit institutions, farms, and state, local, or tribal 
governments.

Revenue Procedure 2023-07, Section 9.02(8) and 9.06(6)

    Estimated Number of Respondents: 350,356.
    Estimated Time per Response: 1 hour.
    Estimated Annual Burden Hours: 350,356 hours.

Revenue Procedure 2023-07, Sections 6.04, 13.01 and 23

    Estimated Number of Respondents: 1,556.
    Estimated Time per Response: 160 hours.
    Estimated Annual Burden Hours: 248,960 hours.
    4. Title: Election Out of GST Deemed Allocations.
    OMB Number: 1545-1892.
    Regulation Project Number: TD 9208.
    Abstract: This information is required by the IRS for taxpayers who 
elect to have the automatic allocation rules not apply to the current 
transfer and/or to future transfers to the trust or to terminate such 
election. This information is also required by the IRS for taxpayers 
who elect to treat trusts described in section 2632(c)(3)(B)(i) through 
(vi)as GST trusts or to terminate such election. This information will 
be used to identify the trusts to which the election or termination of 
election will apply.
    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: Individuals or households.
    Estimated Number of Respondents: 25,000.
    Estimated Time per Respondent: 30 minutes.
    Estimated Total Annual Burden Hours: 12,500.
    5. Title: Continuation Sheet for Item # 16 (Additional 
Information)--OF-306, Declaration for Federal Employment.
    OMB Number: 1545-1921.
    Regulation Project Number: Form 12114.
    Abstract: This form is used by recruitment personnel of the 
Covington Host Site. This form is provided to applicants when 
completing OF 306, Declaration for Federal Employment. It is used as a 
continuation sheet to clearly define additional information that is 
requested in item 15 of the OF 306. Due to lack of space on the OF 306 
this form can be used in lieu of an additional sheet of paper.
    Current Actions: There are no changes to the burden previously 
approved by OMB. This submission is for renewal purposes.

[[Page 46991]]

    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals or households.
    Estimated Number of Respondents: 24,813.
    Estimated Time per Respondent: 15 min.
    Estimated Total Annual Burden Hours: 6,203.
    6. Title: Preparer Hardship Waiver Request and Preparer Explanation 
for Not Filing Electronically.
    OMB Number: 1545-2200.
    Form Number(s): 8944 and 8948.
    Abstract: A tax preparer uses Form 8944 to request a waiver from 
the requirement to file tax returns on magnetic media when the filing 
of tax returns on magnetic media would cause a hardship. A specified 
tax return preparer uses Form 8948 to explain which exception applies 
when a covered return is prepared and filed on paper.
    Current Actions: There are no changes being made to the forms or 
burden at this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations.

Form 8944

    Estimated Number of Respondents: 90,000.
    Estimated Number of Responses: 90,000.
    Estimated Time per Response: 1 hour.
    Estimated Annual Burden Hours: 719,100 hours.

Form 8948

    Estimated Number of Respondents: 180,000.
    Estimated Number of Responses: 740,500.
    Estimated Time per Response: 160 hours.
    Estimated Annual Burden Hours: 1,473,595 hours.
    7. Title: Longevity Annuity Contracts.
    OMB Number: 1545-2234.
    Form Number: Form 1098-Q and TD 9673.
    Abstract: This collection covers final regulations relating to the 
use of longevity annuity contracts in tax qualified defined 
contribution plans under section 401(a) of the Internal Revenue Code 
(Code), section 403(b) plans, individual retirement annuities and 
accounts (IRAs) under section 408, and eligible governmental plans 
under section 457(b).
    Form 1098-Q is used to comply with the reporting requirements under 
TD 9673. Any person who issues a contract intended to be a QLAC that is 
purchased or held under any plan, annuity, or account described in 
section 401(a), 403(a), 403(b), 408 (other than a Roth IRA) or eligible 
governmental plan under section 457(b), must file Form 1098-Q.
    Current Actions: There are no changes being made to the form at 
this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations, 
individuals, not-for-profit institutions, individuals, or households.
    Estimated Number of Respondents: 150.
    Estimated Time per Respondent: 8 mins.
    Estimated Total Annual Burden Hours: 28,529.
    8. Title: Certified Professional Employer Organization (CPEO) 
Forms.
    OMB Number: 1545-2266.
    Form Name: Identity Verification Application, Responsible 
Individual Personal Attestation (RIPA), Certified Professional Employer 
Organization Application, Form 14751, and Form 8973.
    Regulation Project Number: TD 9860.
    Abstract: Section 206 of the Achieving a Better Life Experience 
(ABLE) Act passed Dec. 19, 2014) created the Certified Professional 
Employer Organization (CPEO) designation. The application, attestation 
and supporting information is used by the IRS to qualify professional 
employer organizations to become and remain a Certified Professional 
Employer Organization, which entitles them to certain tax benefits. 
This certification is renewed annually and the CPEO will submit annual 
and quarterly financial statements in addition to supporting 
documentation. Responsible individuals will submit annual attestation 
forms and fingerprint cards. The Identity Verification Application, 
Responsible Individual Personal Attestation (RIPA), Certified 
Professional Employer Organization Application, Form 14751, Certified 
Professional Employer Organization Surety Bond, Form 8973, Certified 
Professional Employer Organization/Customer Reporting Agreement, and TD 
9860, Certified Professional Employer Organizations, will only be used 
by program applicants and related responsible individuals.
    Current Actions: There are changes to the existing collection. Form 
14737 and Form 14737-A have been replaced by the CPEO online system.
    Type of Review: Revision of a currently approved collection.
    Affected Public: Business or other for-profit organizations & 
Individuals.

Identity Verification Application

    Estimated Number of Respondents: 565.
    Estimated Time per Respondent: 15 minutes.
    Estimated Total Annual Burden Hours: 5,141.

Responsible Individual Personal Attestation (RIPA)

    Estimated Number of Respondents: 565.
    Estimated Time per Respondent: 40 hours.
    Estimated Total Annual Burden Hours: 22,600.

Certified Professional Employer Organization Application

    Estimated Number of Respondents: 120.
    Estimated Time per Respondent: 77 hours, 45 minutes.
    Estimated Total Annual Burden Hours: 9,330.

Form 14751

    Estimated Number of Respondents: 170.
    Estimated Time per Respondent: 2 hours.
    Estimated Total Annual Burden Hours: 340.

Form 8973

    Estimated Number of Respondents: 41,350.
    Estimated Time per Respondent: 1.5 hours.
    Estimated Total Annual Burden Hours: 62,025.
    Authority: 44 U.S.C. 3501 et seq.

Melody Braswell,
Treasury PRA Clearance Officer.
[FR Doc. 2024-11860 Filed 5-29-24; 8:45 am]
BILLING CODE 4830-01-P