[Federal Register Volume 76, Number 241 (Thursday, December 15, 2011)]
[Notices]
[Pages 78081-78082]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2011-32176]
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DEPARTMENT OF THE TREASURY
Submission for OMB Review; Comment Request
December 12, 2011.
The Department of the Treasury will submit the following
information collection request to the Office of Management and Budget
(OMB) for review and clearance in accordance with the Paperwork
Reduction Act of 1995, Public Law 104-13, on or after the date of
publication of this notice.
DATES: Comments should be received on or before January 17, 2012 to be
assured of consideration.
ADDRESSES: Send comments regarding the burden estimate, or any other
aspect of the information collection, including suggestion for reducing
the burden, to (1) Office of Information and Regulatory Affairs, Office
of Management and Budget, Attention: Desk Officer for Treasury, New
Executive Office Building, Room 10235, Washington, DC 20503, or email
at [email protected] and (2) Treasury PRA Clearance Officer,
1750 Pennsylvania Ave. NW., Suite 11020, Washington, DC 20220, or on-
line at http://www.PRAComment.gov.
FOR FURTHER INFORMATION CONTACT: Copies of the submission(s) may be
obtained by calling (202) 927-5331, email at [email protected], or the
entire information collection request maybe found at http://www.reginfo.gov.
Internal Revenue Service (IRS)
OMB Number: 1545-0014.
Type of Review: Extension without change of a currently approved
collection.
Title: Application for Registration For Certain Excise Tax
Activities.
Form: 637.
Abstract: Form 637 is used to apply for excise tax registration.
The registration applies to a person required to be registered under
IRC section 4101 for purposes of the federal excise tax on taxable fuel
imposed by IRC 4041 and 4081; and to certain manufacturers or sellers
and purchasers that must register under IRC 4222 to be exempt from the
excise tax on taxable articles. The data is used to determine if the
applicant qualifies for exemption. Taxable fuel producers are required
by IRC 4101 to register with the Service before incurring any tax
liability.Affected Public: Private Sector: Businesses or other for-
profits.
Estimated Total Burden Hours: 27,020.
OMB Number: 1545-0094.
Type of Review: Extension without change of a currently approved
collection.
Title: U.S. Information Return-Trust Accumulation of Charitable
Amounts.
Form: 1041-A.
Abstract: Form 1041-A is used to report the information required in
26 USC 6034 concerning accumulation and distribution of charitable
amounts. The data is used to verify that amounts for which a charitable
deduction was allowed are used for charitable purposes.
Affected Public: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 4,396,854.
OMB Number: 1545-0714.
Type of Review: Extension without change of a currently approved
collection.
Title: Employers Annual Information Return of Tip Income and
Allocated Tips (Form 8027); Transmittal of Employer's Annual
Information Return of Tip Income and Allocated Tips (Form 8027-T).
Forms: 8027, 8027-T.
Abstract: To help IRS in its examination of returns filed by tipped
employees large food or beverage establishments are required to report
annually information concerning food or beverage operations receipts,
tips, reported by employees, and in certain cases, the employer must
allocate tips to certain employees.
Affected Public: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 488,161.
OMB Number: 1545-0928.
Type of Review: Extension without change of a currently approved
collection.
Title: T.D. 9099--Disclosure of Relative Values of Optional Forms
of Benefit.
Abstract: This document contains final regulations that consolidate
the content requirements applicable to explanations of qualified joint
and survivor annuities and qualified pre-retirement survivor annuities
payable under certain retirement plans, and specify requirements for
disclosing the relative value of optional forms of benefit that are
payable from certain retirement plans in lieu of a qualified joint and
survivor annuity. These regulations affect plan sponsors and
administrators, and participants in and beneficiaries of, certain
retirement plans.
Affected Public: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 385,000.
OMB Number: 1545-1209.
Type of Review: Extension without change of a currently approved
collection.
Title: IA-83--90 (TD 8383 -Final) Disclosure of Tax Return
Information for Purposes of Quality or Peer Reviews; Due to Incapacity
or Death of Tax Return Preparer.
Abstract: These regulations govern the circumstances under which
tax return information may be disclosed for purposes of conducting
quality or peer reviews, and disclosures that are necessary because of
the tax return preparer's death or incapacity.
Affected Public: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 250,000.
OMB Number: 1545-1275.
Type of Review: Extension without change of a currently approved
collection.
Title: TD 8529--Limitations on Corporate Net Operating Loss
Carryforwards (CO-45-91 Final).
Abstract: Section 1.382-9(d)(2)(iii) and (d)(4)(iv) allow a loss
corporation to rely on a statement by beneficial owners of indebtedness
in determining whether the loss corporation qualifies under section
382(l)(1)(5). Section 1.382-9(d)(6)(ii) requires a loss corporation to
file an election if it wants to apply the regulations retroactively, or
revoke a prior section 382(l)(1)(6) election.
Affected Public: Private Sector: Businesses or other for-profits.
[[Page 78082]]
Estimated Total Burden Hours: 200.
OMB Number: 1545-1421.
Type of Review: Extension without change of a currently approved
collection.
Title: IA-62-93 (Final) Certain Elections Under the Omnibus Budget
Reconciliation Act of 1993.
Abstract: These regulations establish various elections enacted by
the Omnibus Budget Reconciliation Act of 1993 (Act). The regulations
provide guidance that enable taxpayers to take advantage of various
benefits provided by the Act and the Internal Revenue Code.
Affected Public: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 202,500.
OMB Number: 1545-1519.
Type of Review: Extension without change of a currently approved
collection.
Title: Long-Term Care and Accelerated Death Benefits.
Forms: 1099-LTC.
Abstract: Under the terms of IRC sections 7702B and 101g, qualified
long- term care and accelerated death benefits paid to chronically ill
individuals are treated as amounts received for expenses incurred for
medical care. Amounts received on a per diem basis in excess of $175
per day are taxable. Section 6050Q requires all such amounts to be
reported.
Affected Pubic: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 18,181.
OMB Number: 1545-1662.
Type of Review: Extension without change of a currently approved
collection.
Title: REG-121063-97 (TD 8972--Final) Averaging of Farm Income.
Abstract: Code section 1301 allows an individual engaged in a
farming business to elect to reduce his or her regular tax liability by
treating all or a portion of the current year's farming income as if it
had been earned in equal proportions over the prior three years. The
regulation provides that the election for averaging farm income is made
by filing Schedule J of Form 1040, which is also used to record and
total the amount of tax for each year of the four year calculation.
Affected Public: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 1.
OMB Number: 1545-1943.
Type of Review: Extension without change of a currently approved
collection.
Title: Notice 2005-38--Section 965--Limitations on Dividends
Received Deduction and Other Guidance.
Abstract: This document provides guidance under new section 965,
which was enacted by the American Jobs Creation Act of 2004 (Pub. L.
108-357). In general, and subject to limitations and conditions,
section 965(a) provides that a corporation that is a U.S. shareholder
of a controlled foreign corporation (CFC) may elect, for one taxable
year, an 85 percent dividends received deduction (DRD) with respect to
certain cash dividends it receives from its CFCs. This document
addresses limitations imposed on the maximum amount of section 965(a)
DRD under section 965(b)(1) under which the maximum amount of an
eligible dividends is the greatest of $500 million, or earnings
permanently reinvested outside the United States), section 965(b)(2)
(regarding certain base-period repatriations), section 965(b)(3)
(regarding certain increases in related party indebtedness), and
certain miscellaneous limitations (related to the foreign tax credit).
Affected Public: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 1,250,000.
OMB Number: 1545-2210.
Type of Review: Extension without change of a currently approved
collection.
Title: Notice 2011-47, Relief from Certain Low-Income Housing
Credit Requirements Due to Severe Storms, Tornadoes and Flooding in
Missouri.
Abstract: The Internal Revenue Service is suspending certain
requirements under Sec. 42 of the Internal Revenue Code for low-income
housing credit projects in the United States to provide emergency
housing relief needed as a result of the devastation caused by severe
storms, tornadoes and flooding in Missouri beginning on April 19, 2011.
Affected Public: Individuals and households.
Estimated Total Burden Hours: 125.
Dawn D. Wolfgang,
Treasury PRA Clearance Officer.
[FR Doc. 2011-32176 Filed 12-14-11; 8:45 am]
BILLING CODE 4830-01-P