[Federal Register Volume 77, Number 150 (Friday, August 3, 2012)]
[Notices]
[Pages 46557-46559]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2012-18946]
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Information Collection; Comment Request
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Notice and request for comments.
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SUMMARY: The Department of the Treasury, 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, Public Law 104-13 (44 U.S.C.
3506(c)(2)(A)).
DATES: Written comments should be received on or before October 2, 2012
to be assured of consideration.
ADDRESSES: Direct all written comments to Yvette B. Lawrence, Internal
Revenue Service, Room 6129, 1111 Constitution Avenue NW., Washington,
DC 20224.
Please send separate comments for each specific information
collection listed below. You must reference the information
collection's title, form number, reporting or record-keeping
requirement number, and OMB number (if any) in your comment.
FOR FURTHER INFORMATION CONTACT: To obtain additional information, or
copies of the information collection and instructions, or copies of any
comments received, contact Elaine Christophe, at (202) 622-3179, or at
Internal Revenue Service, Room 6129, 1111 Constitution Avenue NW.,
Washington, DC 20224, or through the Internet, at
[email protected].
SUPPLEMENTARY INFORMATION:
Request for Comments
The Department of the Treasury and the Internal Revenue Service, as
part of their continuing effort to reduce paperwork and respondent
burden, invite the general public and other Federal agencies to take
this opportunity to comment on the proposed or continuing information
collections listed below in this notice, as required by the Paperwork
Reduction Act of 1995, (44 U.S.C. 3501 et seq.).
Request for Comments: Comments submitted in response to this notice
will be summarized and/or included in our request for Office of
Management and Budget (OMB) approval of the relevant information
collection. All comments will become a matter of public record. Please
do not include any confidential or inappropriate material in your
comments.
We invite comments on: (a) Whether the collection of information is
necessary for the proper performance of the agency's functions,
including whether the information has 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 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 the
requested information.
Information Collections Open for Comment
Currently, the IRS is seeking comments concerning the following
forms, and reporting and record-keeping requirements:
Title: Election of $10 Million Limitation on Exempt Small Issues of
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Industrial Development Bonds; Supplemental Capital Expenditure
Statements.
OMB Number: 1545-0940.
Regulation Project Number: LR-185-84.
Abstract: This regulation liberalizes the procedure by which a
state or local government issuer of an exempt small issue of tax-exempt
bonds elects the $10 million limitation upon the size of such issue and
deletes the requirement to file certain supplemental capital
expenditure statements.
Current Actions: There is no change to this existing regulation.
Type of Review: Extension of a currently approved collection.
Affected Public: State, local or tribal governments.
Estimated Number of Respondents: 10,000.
Estimated Time per Respondent: 6 minutes.
Estimated Total Annual Burden Hours: 1,000.
Title: Return of Excise Tax on Undistributed Income of Regulated
Investment Companies.
OMB Number: 1545-1016.
Form Number: 8613.
Abstract: Form 8613 is used by regulated investment companies to
compute and pay the excise tax on undistributed income imposed under
Internal Revenue Code section 4982. IRS uses the information to verify
that the correct amount of tax has been reported.
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.
Estimated Number of Respondents: 1,500.
Estimated Time per Respondent: 11 hours, 53 minutes.
Estimated Total Annual Burden Hours: 17,820.
Title: Disclosure of Returns and Return Information to Designee of
Taxpayer.
OMB Number: 1545-1816.
Regulation Project Number: TD 9054.
Abstract: Under section 6103(a), returns and return information are
confidential unless disclosure is otherwise authorized by the Code.
Section 6103(c), as amended in 1996 by section 1207 of the Taxpayer
Bill of Rights II, Public Law 104-168 (110 Stat. 1452), authorizes the
IRS to disclose returns and return information to such person or
persons as the taxpayer may designate in a request for or consent to
disclosure, or to any other person at the taxpayer's request to the
extent necessary to comply with a request for information or assistance
made by the taxpayer to such other person. Disclosure is permitted
subject to such requirements and conditions as may be prescribed by
regulations. With the amendment in 1996, Congress eliminated the
longstanding requirement that disclosures to designees of the taxpayer
must be pursuant to the written request or consent of the taxpayer.
Current Actions: There is no change to this final regulation.
Type of Review: Extension of currently approved collection.
Affected Public: Individuals or households, business or other not-
for-profit institutions, farms, and Federal, State, local or tribal
governments.
Estimated Number of Respondents: 4,000.
Estimated Time per Respondent: 12 minutes.
Estimated Total Annual Burden Hours: 800.
Title: Section 1031 LKE (Like-Kind Exchanges) Auto Leasing
Programs.
OMB Number: 1545-1834.
Revenue Procedure Number: Revenue Procedure 2003-39.
Abstract: Revenue Procedure 2003-39 provides safe harbors for
certain aspects of the qualification under Sec. 1031 of certain
exchanges of property pursuant to LKE Programs for Federal income tax
purposes.
Current Actions: There are no changes being made to the revenue
procedure at this time.
Type of Review: Extension of a currently approved collection.
Affected Public: Business or other for-profit organizations.
Estimated Number of Respondents: 8,600.
Estimated Average Time per Respondent: 1 hour.
Estimated Total Annual Burden Hours: 8,600.
Title: Credit for Production From Advanced Nuclear Facilities.
OMB Number: 1545-2000.
Form Number: Notice 2006-40.
Abstract: This notice provides the time and manner for a taxpayer
to apply for an allocation of the national megawatt capacity limitation
under Sec. 45J of the Internal Revenue Code. This information will be
used to determine the portion of the national megawatt capacity
limitation to which a taxpayer is entitled. The likely respondents are
corporations and partnerships.
Current Actions: There is no change in the paperwork burden
previously approved by OMB. This form is being submitted for renewal
purposes only.
Type of Review: Revision of a currently approved collection.
Affected Public: Businesses and other for-profit organizations.
Estimated Number of Respondents: 15.
Estimated Time per Respondent: 40 hours.
Estimated Total Annual Burden Hours: 600.
Title: Application for Tentative Refund.
OMB Number: 1545-0098.
Form Number: 1045.
Abstract: Form 1045 is used by individuals, estates, and trusts to
apply for a quick refund of taxes due to carry-back of a net operating
loss, unused general business credit, or claim of right adjustment
under Internal Revenue Code section 1341(b). The information obtained
is used to determine the validity of the application.
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: Individuals or households, business or other for-
profit organizations, and farms.
Estimated Number of Respondents: 17,503.
Estimated Time per Respondent: 29 hours, 26 minutes.
Estimated Total Annual Burden Hours: 515,114.
Title: Application for Approval of Prototype or Employer Sponsored
Individual Retirement Account.
OMB Number: 1545-0390.
Form Number: 5306.
Abstract: This application is used by employers who want to
establish an individual retirement account trust to be used by their
employees. The application is also used by banks and insurance
companies that want to establish approved prototype individual
retirement accounts or annuities. The data collected are used to
determine if the individual retirement account trust or annuity
contract meets the requirements of Code section 408(a), 408(b), or
408(c) so that the IRS may issue an approval letter.
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.
Estimated Number of Respondents: 600.
Estimated Time per Respondent: 13 hours, 44 minutes.
Estimated Total Annual Burden Hours: 8,244.
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
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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.
Approved: July 23, 2012.
Yvette B. Lawrence,
IRS Reports Clearance Officer.
[FR Doc. 2012-18946 Filed 8-2-12; 8:45 am]
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