[Federal Register Volume 78, Number 123 (Wednesday, June 26, 2013)]
[Notices]
[Pages 38446-38450]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2013-15263]
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DEPARTMENT OF THE TREASURY
Submission for OMB Review; Comment Request
May 21, 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 July 26, 2013 to be
assured of consideration.
[[Page 38447]]
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 information collection request maybe found at www.reginfo.gov.
Internal Revenue Service (IRS)
OMB Number: 1545-0043.
Type of Review: Extension without change of a currently approved
collection.
Title: Consent of Shareholder to Include Specific Amount in Gross
Income.
Form: 972.
Abstract: Form 972 is filed by shareholders of corporations to
elect to include an amount in gross income as a divided. The IRS uses
Form 972 as a check to see if an amended return is filed to include the
amount in income and to determine if the corporation claimed the
correct amount.
Affected Public: Individuals or Households.
Estimated Annual Burden Hours: 385.
OMB Number: 1545-0044.
Type of Review: Extension without change of a currently approved
collection.
Title: Corporation Claim for Deduction for Consent Dividends.
Form: 973.
Abstract: Corporations file Form 973 to claim a deduction for
dividends paid. If shareholders consent and IRS approves, the
corporation may claim a deduction for dividends paid, which reduces the
corporation's tax liability. IRS uses Form 973 to determine if
shareholders have included the dividend in gross income.
Affected Public: Private Sector: Businesses and other for-profits.
Estimated Annual Burden Hours: 2,210.
OMB Number: 1545-0045.
Type of Review: Extension without change of a currently approved
collection.
Title: Claim for Deficiency Dividends Deductions by a Personal
Holding Company, Regulated Investment Company, or Real Estate
Investment Trust.
Form: 976.
Abstract: Form 976 is filed by corporations that wish to claim a
deficiency dividend deduction. The deduction allows the corporation to
eliminate all or a portion of a tax deficiency. The IRS uses Form 976
to determine if shareholders have included amounts in gross income.
Affected Public: Private Sector: Businesses and other for-profits.
Estimated Annual Burden Hours: 3,850.
OMB Number: 1545-0145.
Type of Review: Extension without change of a currently approved
collection.
Title: Notice to Shareholder of Undistributed Long-Term Capital
Gains.
Form: 2439.
Abstract: Form 2439 is sent by regulated investment companies and
real estate investment trusts to report undistributed capital gains and
the amount of tax paid on these gains designated under IRC section
852(b)(3)(D) or 857(b)(3)(D). The company, the trust, and the
shareholder file copies of Form 2439 with IRS. IRS uses the information
to check shareholder compliance.
Affected Public: Private Sector: Businesses and other for-profits.
Estimated Annual Burden Hours: 29,995.
OMB Number: 1545-0240.
Type of Review: Extension without change of a currently approved
collection.
Title: Claim for Refund of Income Tax Return Preparer Penalties.
Form: 6118.
Abstract: Form 6118 is used by preparers to file for a refund of
penalties incorrectly charged. The information enables the IRS to
process the claim and have the refund issued to the tax return
preparer.
Affected Public: Individuals or Households.
Estimated Annual Burden Hours: 11,400.
OMB Number: 1545-0429.
Type of Review: Extension without change of a currently approved
collection.
Title: Request for Copy of Tax Return.
Form: 4605.
Abstract: Title 26 USC 7513 allows for taxpayers to request a copy
of a tax return. Form 4506 is used by a taxpayer to request a copy of a
Federal tax form. The information provided will be used for research to
locate the tax form and to ensure that the requester is the taxpayer or
someone authorized by the taxpayer.
Affected Public: Individuals or Households.
Estimated Annual Burden Hours: 260,000.
OMB Number: 1545-0746.
Type of Review: Extension without change of a currently approved
collection.
Title: LR-100-78 (Final) Creditability of Foreign Taxes.
Abstract: The information needed is a statement by the taxpayer
that it has elected to apply the safe harbor formula of section 1.901-
2A(e) of the foreign tax credit regulations. This statement is
necessary in order that the IRS may properly determine the taxpayer's
tax liability.
Affected Public: Private Sector: Businesses or other for-profits,
farms.
Estimated Annual Burden Hours: 37.
OMB Number: 1545-0755.
Type of Review: Extension without change of a currently approved
collection.
Title: TD 7959--Related Group Election With Respect to Qualified
Investments in Foreign Base Company Shipping Operations.
Abstract: The election described in the attached justification
converted an annual election to an election effective until revoked.
The computational information required is necessary to assure that the
U.S. shareholder correctly reports any shipping income of its
controlled foreign corporations which is taxable to that shareholder.
Affected Public: Private Sector: Businesses and other for-profits.
Estimated Annual Burden Hours: 205.
OMB Number: 1545-0956.
Type of Review: Revision of a currently approved collection.
Title: Annual Return of One-Participant (Owners and Their Spouses)
Retirement Plan.
Form: 5500-EZ.
Abstract: Form 5500-EZ is an annual return filed by a one-
participant or one-participant and spouse pension plan. The IRS uses
this data to determine if the plan appears to be operating properly as
required under the law or whether the plan should be audited.
Affected Public: Private Sector: Businesses and other for-profits.
Estimated Annual Burden Hours: 7,005,000.
OMB Number: 1545-1098.
Type of Review: Extension without change of a currently approved
collection.
Title: Arbitrage Restrictions on Tax-Exempt Bonds TD 8418 Final
(FI-91-86; FI-90-86; FI-90-91; and FI-1-90).
[[Page 38448]]
Abstract: This regulation requires state and local governmental
issuers of tax-exempt bonds to rebate arbitrage profits earned on non-
purpose investments acquired with the bond proceeds. Issuers are
required to submit a form with the rebate. The regulations provide for
several elections, all of which must be in writing.
Affected Public: State, Local, and Tribal Governments.
Estimated Annual Burden Hours: 8,550.
OMB Number: 1545-1224.
Type of Review: Extension without change of a currently approved
collection.
Title: INTL-112-88 (Final) Allocation and Apportionment of
Deduction for State Income Taxes.
Abstract: This regulation provides guidance on when and how the
deduction for state income taxes is to be allocated and apportioned
between gross income from sources within and without the United States
in order to determine the amount of taxable income from those sources.
The reporting requirements in the regulation affect those taxpayers
claiming foreign tax credits who elect to use an alternative method
from that described in the regulation to allocate and apportion
deductions for state income taxes.
Affected Public: Private Sector: Businesses and other for-profits.
Estimated Annual Burden Hours: 1,000.
OMB Number: 1545-1452.
Type of Review: Extension without change of a currently approved
collection.
Title: FI-43-94 (TD 8649--Final) Regulations Under Section 1258 of
the Internal Revenue Code of 1986; Netting Rule for Certain Conversion
Transactions.
Abstract: Section 1258 recharacterizes capital gains from
conversion transactions as ordinary income to the extent of the time
value element. This regulation provides that certain gains and losses
may be netted for purposes of determining the amount of gain
recharacterized.
Affected Public: Private Sector: Businesses and other for-profits.
Estimated Annual Burden Hours: 5,000.
OMB Number: 1545-1455.
Type of Review: Extension without change of a currently approved
collection.
Title: PS-80-93 (TD 8645--Final) Rules for Certain Rental Real
Estate Activities.
Abstract: The regulation provides rules relating to the treatment
of rental real estate activities of certain taxpayers under the passive
activity loss and credit limitations on Internal Revenue Code section
469.
Affected Public: Individuals or Households.
Estimated Annual Burden Hours: 3,015.
OMB Number: 1545-1459.
Type of Review: Extension without change of a currently approved
collection.
Title: Program Sponsor Agreement for Continuing Education for
Enrolled Agents.
Form: 8498.
Abstract: This information relates to the approval of continuing
professional education programs for the individuals enrolled to
practice before the Internal Revenue Service (enrolled agents).
Affected Public: Individuals or Households.
Estimated Annual Burden Hours: 300.
OMB Number: 1545-1507.
Type of Review: Extension without change of a currently approved
collection.
Title: TD 8701--Treatment of Shareholders of Certain Passive
Investment Companies.
Abstract: The reporting requirements affect U.S. persons that are
direct and indirect shareholders of passive foreign investment
companies (PFICs). The IRS uses Form 8621 to identify PFICs, U.S.
persons that are shareholders and transactions subject to PFIC taxation
and to verify income inclusions, excess distributions and deferred tax
amounts.
Affected Public: Private Sector: Businesses and other for-profits.
Estimated Annual Burden Hours: 100,000.
OMB Number: 1545-1534.
Type of Review: Extension without change of a currently approved
collection.
Title: REG-252936-96 (TD 8780--Final) Rewards for Information
Relating to Violations of Internal Revenue Laws.
Abstract: The regulations relate to rewards for information that
results in the detection and punishment of violations of the Internal
Revenue Laws.
Affected Public: Individuals or Households.
Estimated Annual Burden Hours: 30,000.
OMB Number: 1545-1551.
Type of Review: Extension without change of a currently approved
collection.
Title: Changes in Methods of Accounting (RP 2011-14).
Abstract: This revenue procedure (2011-14) provides the procedures
by which a taxpayer may obtain automatic consent for a change in method
of accounting described in the Appendix of this revenue procedure. This
revenue procedure amplifies, clarifies, modifies, and supersedes Rev.
Proc. 2008-52, 2008-2 C.B. 587, as amplified, clarified, and modified
by Rev. Proc. 2009-39, 2009-38 I.R.B. 371, and provides additional
changes in methods of accounting for which a taxpayer may obtain
automatic consent.
Affected Public: Private Sector: Businesses and other for-profits,
Not-for-profit institutions, Farms.
Estimated Annual Burden Hours: 15,359.
OMB Number: 1545-1555.
Type of Review: Extension without change of a currently approved
collection.
Title: REG-115795-97 (Final) General Rules for Making and
Maintaining Qualified Electing Fund Elections.
Abstract: The regulations provide rules for making section 1295
elections and satisfying annual reporting requirements for such
elections, revoking section 1295 elections, and making retroactive
section 1295 elections.
Affected Public: Private Sector: Businesses and other for-profits.
Estimated Annual Burden Hours: 623.
OMB Number: 1545-1556.
Type of Review: Extension without change of a currently approved
collection.
Title: TD 8786--Source of Income From Sales of Inventory Partly
From Sources Within a Possession of the United States; Source of Income
Derived From Certain Purchases from a Corporation Electing Section 936.
Abstract: The information requested in section 1.863-3(f)(6) is
necessary for the Service to audit taxpayers' return to ensure
taxpayers are properly determining the source of their income.
Affected Public: Private Sector: Businesses and other for-profits.
Estimated Annual Burden Hours: 500.
OMB Number: 1545-1559.
Type of Review: Extension without change of a currently approved
collection.
Title: Revenue Procedures 98-46 and 97-44, LIFO Conformity
Requirement.
Abstract: Revenue Procedure 97-44 permits automobile dealers that
comply with the terms of the revenue procedure to continue using the
LIFO inventory method despite previous violations of the LIFO
conformity requirements of section 472(c) or (e)(2). Revenue Procedure
98-46 modifies Revenue Procedure 97-44 by allowing medium-and heavy-
duty truck dealers to take
[[Page 38449]]
advantage of the favorable relief provided in Revenue Procedure 97-44.
Affected Public: Private Sector: Businesses and other for-profits.
Estimated Annual Burden Hours: 100,000.
OMB Number: 1545-1583.
Type of Review: Extension without change of a currently approved
collection.
Title: REG-209322-82 (TD 8841--Final), Return of Partnership
Income.
Abstract: Information is required to enable the IRS to verify that
a taxpayer is reporting the correct amount of income or gain or
claiming the correct amount of losses, deductions, or credits from that
taxpayer's interest in the partnership.
Affected Public: Private Sector: Businesses and other for-profits.
Estimated Annual Burden Hours: 1.
OMB Number: 1545-1700.
Type of Review: Extension without change of a currently approved
collection.
Title: Qualified Subchapter S Subsidiary Election.
Form: 8869.
Abstract: Effective for tax years beginning after December 31,
1996, Internal Revenue Code section 1361(b)(3) allows an S corporation
to own a corporate subsidiary, but only if it is wholly owned. To do
so, the parent S corporation must elect to treat the wholly owned
subsidiary as a qualified subchapter S subsidiary (QSub). Form 8869 is
used to make this election.
Affected Public: Private Sector: Businesses and other for-profits.
Estimated Annual Burden Hours: 40,750.
OMB Number: 1545-1704.
Type of Review: Extension without change of a currently approved
collection.
Title: Revenue Procedure 200-41--Change in Minimum Funding Method.
Abstract: This revenue procedure provides a mechanism whereby a
plan sponsor or plan administrator may obtain a determination from the
Internal Revenue Service that its proposed change in the method of
funding its pension plan(s) meets the standards of section 412 of the
Internal Revenue Code.
Affected Public: Private Sector: Businesses and other for-profits.
Estimated Annual Burden Hours: 5,400.
OMB Number: 1545-1706.
Type of Review: Extension without change of a currently approved
collection.
Title: TD 9315--Section 1503(d) Closing Agreement Requests.
Abstract: Revenue Procedure 2000-42 informs taxpayers of the
information they must submit to request a closing agreement under Reg.
S1.1503-2(g)(2)(iv)(B)(2)(i) to prevent the recapture of dual
consolidated losses (DCLs) upon the occurrence of certain triggering
events. TD 9315 contains regulations under section 1503(d) of the
Internal Revenue Code (Code) regarding dual consolidated losses.
Section 1503(d) generally provides that a dual consolidated loss of a
dual resident corporation cannot reduce the taxable income of any other
member of the affiliated group unless, to the extent provided in
regulations, the loss does not offset the income of any foreign
corporation. Similar rules apply to losses of separate units of
domestic corporations. These regulations address various dual
consolidated loss issues, including exceptions to the general
prohibition against using a dual consolidated loss to reduce the
taxable income of any other member of the affiliated group.
Affected Public: Private Sector: Businesses and other for-profits.
Estimated Annual Burden Hours: 2,000.
OMB Number: 1545-1718.
Type of Review: Extension without change of a currently approved
collection.
Title: REG-106030-98 (TD 9305--Final) Source of Income from Certain
Space and Ocean Activities; Also, Source of Communications Income.
Abstract: This document contains regulations under section 863(d)
governing the source of income from certain space and ocean activities.
It also contains regulations under section 863(a), (d), and (e)
governing the source of income from certain communications activities.
In addition, this document contains final regulations under section
863(a) and (b), amending the regulations in Sec. 1.863-3 to conform
those regulations to these final regulations. These regulations
primarily affect persons who derive income from activities conducted in
space, or on or under water not within the jurisdiction of a foreign
country, possession of the United States, or the United States (in
international water). The regulations also affect persons who derive
income from transmission of communications.
Affected Public: Private Sector: Businesses and other for-profits.
Estimated Annual Burden Hours: 1,250.
OMB Number: 1545-1817.
Type of Review: Extension without change of a currently approved
collection.
Title: Application for United States Residency Certification.
Form: 8802.
Abstract: All requests for U.S. residency certification must be
received on Form 8802, Application for United States Residency
Certification. This application must be sent to the Philadelphia
Service Center. As proof of residency in the United States and of
entitlement to the benefits of a tax treaty, U.S. treaty partner
countries require a U.S. Government certification that you are a U.S.
citizen, U.S. corporation, U.S. partnership, or resident of the United
States for purposes of taxation.
Affected Public: Individual or Households.
Estimated Annual Burden Hours: 363,000.
OMB Number: 1545-1966.
Type of Review: Extension without change of a currently approved
collection.
Title: TD 9263 (Final) Income Attributable to Domestic Production
Activities.
Abstract: This document contains final regulations concerning the
deduction for income attributable to domestic production activities
under section 199 of the Internal Revenue Code. Section 199 was enacted
as part of the American Jobs Creation Act of 2004 (Act). The
regulations will affect taxpayers engaged in certain domestic
production activities.
Affected Public: Private Sector: Businesses or other for-profits.
Estimated Annual Burden Hours: 9,000.
OMB Number: 1545-1981.
Type of Review: Revision of a currently approved collection.
Title: Alternative Fuel Vehicle Refueling Property Credit.
Form: 8911.
Abstract: IRC section 30C allows a credit for alternative fuel
vehicle refueling property. Form 8911 will be used by taxpayers to
claim the credit.
Affected Public: Private Sector: Businesses or other for-profits.
Estimated Annual Burden Hours: 3,420,759.
OMB Number: 1545-2028.
Type of Review: Extension without change of a currently approved
collection.
Title: Notice 2008-33--Fuel Cell Motor Vehicle Credit.
Abstract: This notice sets forth interim guidance, pending the
issuance of regulations, relating to the new fuel cell motor vehicle
credit under Sec. 30B(a)(1) and (b) of the Internal Revenue Code.
[[Page 38450]]
Affected Public: Private Sector: Businesses or other for-profits.
Estimated Annual Burden Hours: 200.
OMB Number: 1545-2031.
Type of Review: Extension without change of a currently approved
collection.
Title: TD 9365--Railroad Track Maintenance Credit.
Abstract: This document contains regulations that provide rules for
claiming the railroad track maintenance credit under section 45G of the
Internal Revenue Code for qualified railroad track maintenance
expenditures paid or incurred by a Class II or Class III railroad and
other eligible taxpayers during the taxable year. These regulations
reflect changes to the law made by the American Jobs Creation Act of
2004 and the Gulf Opportunity Zone Act of 2005.
Affected Public: Private Sector: Businesses or other for-profits.
Estimated Annual Burden Hours: 1,375.
OMB Number: 1545-2156.
Type of Review: Extension without change of a currently approved
collection.
Title: Revenue Procedure 2010-13, Disclosure of Activities Grouped
under Section 469.
Abstract: This revenue procedure requires taxpayers to report to
the Internal Revenue Service their groupings and regroupings of
activities and the addition of specific activities within their
existing groupings of activities for purposes of section 469 of the
Internal Revenue Code and Sec. 1.469-4 of the Income Tax Regulations.
Affected Public: Private Sector: Businesses or other for-profits.
Estimated Annual Burden Hours: 39,000.
OMB Number: 1545-2159.
Type of Review: Extension without change of a currently approved
collection.
Title: Notice Concerning Fiduciary Relationship of Financial
Institution.
Form: 56-F.
Abstract: The filing of Form 56-F by a fiduciary (FDIC or other
federal agency acting as a receiver or conservator of a failed
financial institution (bank or thrift) gives the IRS the necessary
information to submit send letters, notices, and notices of tax
liability to the federal fiduciary now in charge of the financial
institution rather than sending the notice, etc. to the institution's
last known address.
Affected Public: Private Sector: Businesses or other for-profits.
Estimated Annual Burden Hours: 997.
Dawn D. Wolfgang,
Treasury PRA Clearance Officer.
[FR Doc. 2013-15263 Filed 6-25-13; 8:45 am]
BILLING CODE 4830-01-P