[Federal Register Volume 78, Number 143 (Thursday, July 25, 2013)]
[Notices]
[Pages 45012-45013]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2013-17911]
=======================================================================
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Submission for OMB Review; Comment Request
July 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 August 26, 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 information collection request maybe found at www.reginfo.gov.
Internal Revenue Service (IRS)
OMB Number: 1545-0117.
Type of Review: Revision of a currently approved collection.
Title: Original Issue Discount.
Form: 1099-OID.
Abstract: Form 1099-OID is used for reporting original issue
discount as required by section 6049 of the Internal Revenue Code. It
is used to verify that income earned on discount obligations is
properly reported by the recipient.
Affected Public: Private sector; businesses or other for-profits.
Estimated Annual Burden Hours: 526,730.
OMB Number: 1545-0889.
Type of Review: Extension without change of a currently approved
collection.
Title: Disclosure Statement and Regulation Disclosure Statement.
Form: 8275, 8275-R.
Abstract: IRC section 6662 imposes accuracy related penalties for
substantial understatement of tax liability or negligence or disregard
of rules and regulations. Section 6694 imposes similar penalties on
return preparers. Regulations section 1.6662-4(e) and (f) provide for
reduction of these penalties if adequate disclosure of the tax
treatment is made on Form 8275 or, if the position is contrary to a
regulation on Form 8275-R.
Affected Public: Private sector; Businesses and other for-profits.
Estimated Annual Burden Hours: 3,716,664.
OMB Number: 1545-1379.
Type of Review: Extension without change of a currently approved
collection.
Title: Excise Taxes on Excess Inclusions of REMIC Residual
Interests.
Form: 8831.
Abstract: Form 8831 is used by a real estate mortgage investment
conduit (REMIC) to figure its excise tax liability under Code sections
860E(e)(1), 860E(e)(6), and 860E(e)(7). IRS uses the information to
determine the correct tax liability of the REMIC.
Affected Public: Private sector; businesses and other for-profits.
Estimated Annual Burden Hours: 237.
OMB Number: 1545-1271.
Type of Review: Extension without change of a currently approved
collection.
Title: REG-209035-86 (Final) Stock Transfer Rules; REG-208165-91
(Final) Certain Transfers of Stock or Securities by U.S. Persons to
Foreign Corporations and Related Reporting Requirements.
Abstract: A U.S. person must generally file a gain recognition
agreement with the IRS in order to defer gain on a section 367(a)
transfer of stock to a foreign corporation, and must file a notice with
the Service if it realizes any income in a section 367(b) exchange.
These requirements ensure compliance with the respective Code sections.
Affected Public: Private sector; businesses and other for-profits.
Estimated Annual Burden Hours: 2,390.
OMB Number: 1545-1449.
Type of Review: Extension without change of a currently approved
collection.
Title: TD 8652--Cash Reporting by Court Clerks.
Abstract: Section 60501(g) imposes a reporting requirement on
criminal court clerks that receive more than $10,000 in cash as bail.
The IRS will use the information to identify individuals with large
cash incomes. Clerks must also furnish the information to the United
States Attorney for the jurisdiction in which the individual charged
with the crime resides and to each person posting the bond whose name
appears on Form 8300.
Affected Public: Federal government.
Estimated Annual Burden Hours: 125.
OMB Number: 1545-1566.
Type of Review: Extension without change of a currently approved
collection.
Title: Notice 97-66, Certain Payments Made Pursuant to a Securities
Lending Transaction; Notice 2010-46, Prevention of Over-Withholding and
U.S. Tax Avoidance With Respect to Certain Substitute Dividend
Payments.
Abstract: Notice 97-66 modifies final regulations which are
effective November 14, 1997. The Notice relaxes the statement
requirement with respect to substitute interest payments relating to
securities loans and repurchased transactions. It also provides a
withholding mechanism to eliminate excessive withholding on multiple
payments in a chain of substitute dividend payments. Notice 2010-46
modifies Notice 97-66, by providing necessary information to ensure
taxpayers are not subject to excessive tax pursuant to IRC section
871(l). The information will allow a withholding agent to make a
substitute dividend payment to certain counterparties in a series of
securities lending transactions without withholding and depositing
additional excessive tax.
Affected Public: Private sector; businesses and other for-profits.
Estimated Annual Burden Hours: 62,750.
OMB Number: 1545-1572.
Type of Review: Extension without change of a currently approved
collection.
Title: TD 8775--Election Not to Apply Look-Back Methods in De
Minimis Cases (REG-120200-97).
Abstract: The regulation requires taxpayers to attach a
notification statement to their returns when they elect not to apply
the look-back method to long-term contracts in de minimis cases.
Affected Public: Private sector; businesses or other for-profits.
[[Page 45013]]
Estimated Annual Burden Hours: 4,000.
OMB Number: 1545-1590.
Type of Review: Extension without change of a currently approved
collection.
Title: REG-251698-96 (TD 8869-Final) Subchapter S Subsidiaries.
Abstract: The IRS will use the information provided by taxpayers to
determine whether a corporation should be treated as an S corporation,
a C Corporation, or an entity that is disregarded for federal tax
purposes. The collection of information covered in the regulation is
necessary for a taxpayer to obtain, retain, or terminate S corporation
treatment.
Affected Public: Private sector; businesses or other for-profits.
Estimated Annual Burden Hours: 10,110.
OMB Number: 1545-1738.
Type of Review: Extension without change of a currently approved
collection.
Title: Revenue Procedure 2001-29, Leveraged Leases.
Abstract: Revenue Procedure 2001-29 sets forth the information and
representations required to be furnished by taxpayers in requests for
an advance ruling that a leveraged lease transaction is, in fact, a
valid lease for federal income tax purposes.
Affected Public: Private sector; businesses or other for-profits.
Estimated Annual Burden Hours: 800.
OMB Number: 1545-1823.
Type of Review: Extension without change of a currently approved
collection.
Title: e-Services Registration TIN Matching--Application and
Screens for TIN Matching Interactive/e-Services Products.
Form: 13350.
Abstract: E-services is a system which will permit the Internal
Revenue Services to electronically communicate with third party users
to support electronic filing and resolve tax administration issues for
practitioners, payers, states, and Department of Education Contractors
Registration is required to authenticate users that plan to access e-
services products. This system is a necessary outgrowth of advanced
information and communication technologies. TIN Matching is one of the
products available through e-Services offered via the internet and
accessible through the irs.gov Web site.
Affected Public: Private sector; businesses or other for-profits.
Estimated Annual Burden Hours: 3,670,000.
OMB Number: 1545-1868.
Type of Review: Extension without change of a currently approved
collection.
Title: REG-116664-01 (TD 9300--Final) Guidance to Facilitate
Business Electronic Filing.
Abstract: These regulations remove certain impediments to the
electronic filing of business tax returns and other forms. The
regulations reduce the number of instances in which taxpayers must
attach supporting documents to their tax returns. The regulations also
expand slightly the required content of a statement certain taxpayers
must submit with their returns to justify deductions for charitable
contributions.
Affected Public: Private sector; businesses or other for-profits.
Estimated Annual Burden Hours: 250,000.
OMB Number: 1545-1876.
Type of Review: Extension without change of a currently approved
collection.
Title: REG-166012-02 (NPRM) National Contracts; Contingent
Nonperiodic Payments.
Abstract: The collection of information in the proposed regulations
is in Sec. 1.446-3(g)(6)(vii) of the Income Tax Regulations, requiring
Taxpayers to maintain in their books and records a description of the
method used to determine the projected amount of a contingent payment,
the projected payment schedules, and the adjustments taken into account
under the proposed regulations. The information is required by the IRS
to verify compliance with section 446 of the Internal Revenue Code and
the method of accounting described in Sec. 1.446-3(g)(6).
Affected Public: Private sector; businesses or other for-profits.
Estimated Annual Burden Hours: 25,500.
OMB Number: 1545-2033.
Type of Review: Extension without change of a currently approved
collection.
Title: Notice 2006-83, Chapter 11 Bankruptcy Cases.
Abstract: The IRS needs bankruptcy estates and individual chapter
11 debtors to allocate post-petition income and tax withholding between
the estate and the debtor. The IRS will use the information in
administering the internal revenue laws. Respondents will be individual
debtors and their bankruptcy estates for chapter 11 cases filed after
October 16, 2005.
Affected Public: Individuals or households.
Estimated Annual Burden Hours: 1,500.
OMB Number: 1545-2183.
Type of Review: Extension without change of a currently approved
collection.
Title: REG-209006-89--Transfers by Domestic Corporations That Are
Subject to Section 367(a)(5); Distributions by Domestic Corporations
That Are Subject to Section 1248(f) (TD 9614 & 9615).
Abstract: The income tax regulations under section 367(a) reflect
changes made by the Technical and Miscellaneous Corrections Act of
1988. Section 367(a)(5) provides that a transfer of assets to a foreign
corporation in an exchange described in section 361 is subject to
section 367(a)(1), unless certain ownership requirements and other
conditions are met.
Affected Public: Private sector; businesses or other for-profits.
Estimated Annual Burden Hours: 3,260.
Dawn D. Wolfgang,
Treasury PRA Clearance Officer.
[FR Doc. 2013-17911 Filed 7-24-13; 8:45 am]
BILLING CODE 4830-01-P