[Federal Register Volume 78, Number 80 (Thursday, April 25, 2013)]
[Notices]
[Pages 24466-24468]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2013-09774]
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DEPARTMENT OF THE TREASURY
Submission for OMB Review; Comment Request
April 22, 2013.
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, Public Law 104-13, on or after the date of
publication of this notice.
DATES: Comments should be received on or before May 28, 2013 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 8140, Washington, DC 20220, or email
at [email protected].
FOR FURTHER INFORMATION CONTACT: Copies of the submission(s) may be
obtained by calling (202) 927-5331, email at [email protected], or the
entire
[[Page 24467]]
information collection request maybe found at www.reginfo.gov.
Internal Revenue Service (IRS)
OMB Number: 1545-0142.
Type of Review: Extension without change of a currently approved
collection.
Title: Underpayment of Estimated Tax by Corporations.
Form: 2220.
Abstract: Form 2220 is used by corporations to determine whether
they are subject to the penalty for underpayment of estimated tax and
if so, the amount of the penalty. The IRS uses Form 2220 to determine
if the penalty was correctly computed.
Affected Public: Private Sector: Businesses or other for-profits.
Estimated Annual Burden Hours: 24,206,448.
OMB Number: 1545-0155.
Type of Review: Extension without change of a currently approved
collection.
Title: Investment Credit.
Form: 3468.
Abstract: Taxpayers are allowed a credit against their income tax
for certain expenses they incur for their trades or businesses. Form
3468 is used to compute this investment tax credit. The information
collect is used by the IRS to verify that the credit has been correctly
computed.
Affected Public: Private Sector: Businesses or other for-profits.
Estimated Annual Burden Hours: 530,937.
OMB Number: 1545-0790.
Type of Review: Extension without change of a currently approved
collection.
Title: Notice of Inconsistent Treatment or Administrative
Adjustment Request (AAR).
Form: 8082.
Abstract: IRC sections 6222 and 6227 require partners to notify IRS
by filing Form 8082 when they (1) treat partnership items inconsistent
with the partnerships' treatment (6222), and (2) change previously
reported partnership items (6227). Sections 6244 and 860F extend this
requirement to shareholders of S corporations and residuals of REMICs.
Also section 6241 and 6034A(c) extend this requirement to partners in
electing large partnerships and beneficiaries of estates and trusts.
Affected Public: Private Sector: Businesses or other for-profits.
Estimated Annual Burden Hours: 51,024.
OMB Number: 1545-1034.
Type of Review: Extension without change of a currently approved
collection.
Title: Passive Activity Credit Limitations.
Form: 8582-CR.
Abstract: Under section 469, credits from passive activities, to
the extent they do not exceed the tax attributable to net passive
income, are not allowed. Form 8582-CR is used to figure the passive
activity credit allowed and the amount of credit to be reported on the
tax return.
Affected Public: Individuals and Households.
Estimated Annual Burden Hours: 2,370,600.
OMB Number: 1545-1145.
Type of Review: Extension without change of a currently approved
collection.
Title: Generation-Skipping Transfer Tax Return for Terminations.
Form: 706-GS(T).
Abstract: Form 706-GS(T) is used by trustees to compute and report
the Federal GST tax imposed by IRC section 2601. IRS uses the
information to enforce this tax and to verify that the tax has been
properly computed.
Affected Public: Individuals and Households.
Estimated Annual Burden Hours: 684.
OMB Number: 1545-1447.
Type of Review: Extension without change of a currently approved
collection.
Title: CO-46-94 (TD 8594--Final) Losses on Small Business Stock.
Abstract: Section 1.1244(e)-1(b) of the regulation requires that a
taxpayer claiming an ordinary loss with respect to section 1244 stock
must have records sufficient to establish that the taxpayer satisfies
the requirements of section 1244 and is entitled to the loss. The
records are necessary to enable the Service examiner to verify that the
stock qualifies as section 1244 stock and to determine whether the
taxpayer is entitled to the loss.
Affected Public: Private Sector: Businesses or other for-profits.
Estimated Annual Burden Hours: 2,000.
OMB Number: 1545-1550.
Type of Review: Extension without change of a currently approved
collection.
Title: Notice 97-45, Highly Compensated Employee Definition.
Abstract: This notice provides guidance on the definition of a
highly compensated employee within the meaning of section 414(q) of the
Internal Revenue Code as simplified by section 1431 of the Small
Business Job Protection Act of 1996, including an employer's option to
make a top-paid group election under section 414(q)(1)(B)(ii).
Affected Public: Private Sector: Businesses or other for-profits.
Estimated Annual Burden Hours: 65,605.
OMB Number: 1545-1558.
Type of Review: Extension without change of a currently approved
collection.
Title: Rev. Proc. 97-43, Procedures for Electing Out of Exemptions
under Section 1.475(c)-1; and Rev. Ruling 97-39, Mark-to-Market
Accounting Method for Dealers in Securities.
Abstract: Rev. Proc. 97-43 provides taxpayers automatic consent to
change to mark-to-market accounting for securities after the taxpayer
elects under section 1.475(c)-1, subject to specified terms and
conditions. Rev. Ruling 97-39 provides taxpayers additional mark-to-
market guidance in a question and answer format.
Affected Public: Private Sector: Businesses or other for-profits.
Estimated Annual Burden Hours: 1,000.
OMB Number: 1545-1639.
Type of Review: Extension without change of a currently approved
collection.
Title: TD 8936--Definition of Contribution in Aid of Construction
under Section 118(c).
Abstract: The regulations provide guidance with respect to section
118(c), which provides that a contribution in aid of construction
received by a regulated public water or sewage utility is treated as a
contribution to the capital of the utility and excluded from gross
income.
Affected Public: Private Sector: Businesses or other for-profits.
Estimated Annual Burden Hours: 300.
OMB Number: 1545-1851.
Type of Review: Extension without change of a currently approved
collection.
Title: TD 9083--Golden Parachute Payments (REG-124312-02).
Abstract: These regulations deny a deduction for excess parachute
payments. A parachute payment is a payment in the nature of
compensation to a disqualified individual that is contingent on a
change in ownership or control of a corporation. Certain payments,
including payments from a small corporation, are exempt from the
definition of parachute payment if certain requirements are met (such
as shareholder approval and disclosure requirements).
Affected Public: Private Sector: Businesses or other for-profits.
Estimated Annual Burden Hours: 12,000.
OMB Number: 1545-2170.
[[Page 24468]]
Type of Review: Extension without change of a currently approved
collection.
Title: Cyber Assistance Program (Authorized Cyber Assistant Host
Application).
Abstract: The form is used by a business to apply to become an
Authorized Cyber Assistant Host. Information on this form will be used
to assist in determining whether the applicant meets the qualifications
to become a Cyber Assistant Host. Cyber Assistant is a software program
that assists in the preparation of Form 1023, Application for
Recognition of Exemption, under Section 501(c)(3).
Affected Public: Private Sector: Businesses or other for-profits,
Not-for-profit institutions.
Estimated Annual Burden Hours: 200.
Dawn D. Wolfgang,
Treasury PRA Clearance Officer.
[FR Doc. 2013-09774 Filed 4-24-13; 8:45 am]
BILLING CODE 4830-01-P