[Federal Register Volume 79, Number 21 (Friday, January 31, 2014)]
[Notices]
[Pages 5522-5525]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-02025]
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DEPARTMENT OF THE TREASURY
Submission for OMB Review; Comment Request
January 28, 2014
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 March 3, 2014 to be
assured of consideration.
ADDRESSES: Send comments regarding the burden estimate, or any other
aspect of the information collection, including suggestions 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 8141, Washington,
DC 20220, or email at [email protected].
FOR FURTHER INFORMATION CONTACT: Copies of the submission(s) may be
obtained by calling (202) 622-1295, emailing [email protected], or the
entire information collection request may be found at www.reginfo.gov.
Internal Revenue Service (IRS)
OMB Number: 1545-0575.
Type of Review: Extension without change of a currently approved
collection.
Title: Return of Excise Taxes Related to Employee Benefit Plans.
Form: Form 5330.
Abstract: Internal Revenue Code sections 4971, 4972, 4973(a)(3),
4975, 4976, 4977, 4978, 4978A, 4978B, 4979, 4979A and 4980 impose
various excise taxes in connection with employee benefit plans. Form
5330 is used to compute and collect these taxes.
Affected Public: Businesses or other for-profits.
Estimated Annual Burden Hours: 540,145.
OMB Number: 1545-0715.
Type of Review: Revision of a currently approved collection.
Title: Proceeds From Broker and Barter Exchange Transactions.
Form: Form 1099-B.
Abstract: Form 1099-B is used by brokers and barter exchanges to
report proceeds from transactions to the Internal Revenue Service. The
form will be used by IRS to verify compliance
[[Page 5523]]
with the reporting rules and to verify that the recipient has included
the proper amount of income on his or her return.
Affected Public: Individuals or households; Businesses or other
for-profits.
Estimated Annual Burden Hours: 49,396,988.
OMB Number: 1545-1601.
Type of Review: Extension without change of a currently approved
collection.
Title: Revenue Procedure 98-32, EFTPS Programs for Reporting
Agents.
Abstract: The Batch and Bulk Filer programs are used by filers for
electronically submitting enrollments, federal tax deposits, and
federal tax payments on behalf of multiple taxpayers. These programs
are part of the Electronic Federal Tax Payment System (EFTPS).
Affected Public: Businesses or other for-profits.
Estimated Annual Burden Hours: 246,877.
OMB Number: 1545-1614.
Type of Review: Extension without change of a currently approved
collection.
Title: REG-106177-97 (NPRM) Qualified State Tuition Programs.
Abstract: Respondents are states and eligible educational
institutions that establish and maintain qualified state tuition
programs. Respondents include distributees who receive benefits under
the programs. Information verifies that programs are qualified and that
distributions are used for qualified educational expenses.
Affected Public: Individuals or households; State, local, or tribal
governments.
Estimated Annual Burden Hours: 4,258,260.
OMB Number: 1545-1616.
Type of Review: Extension without change of a currently approved
collection.
Title: REG-115393-98 (Final) Roth IRAs.
Abstract: This collection of information contains regulations
relating to Roth IRAs under section 408A of the Internal Revenue Code.
The regulations provide guidance on establishing Roth IRAs,
contributions to Roth IRAs, converting amounts to Roth IRAs,
recharacterizing IRA contributions, Roth IRA distributions and Roth IRA
reporting requirements.The regulations affect individuals establishing
Roth IRAs, beneficiaries under Roth IRAs, and trustees, custodians or
issuers of Roth IRAs.
Affected Public: Individuals or households; Businesses or other
for-profits; and Not-for-profit institutions.
Estimated Annual Burden Hours: 125,000.
OMB Number: 1545-1623.
Type of Review: Extension without change of a currently approved
collection.
Title: REG-246256-96 (Final) Excise Taxes on Excess Benefit
Transactions.
Abstract: The rule affects organizations described in Internal
Revenue Code section 501(c)(3) and (4) applicable tax-exempt
organizations). The collection of information entails obtaining and
relying on appropriate comparability data and documenting the basis of
an organization's determination that compensation is reasonable, or a
property transfer (or transfer of the right to use property) is at fair
market value. These actions comprise two of the requirements specified
in the legislative history for obtaining the rebuttable presumption of
reasonableness.
Affected Public: Not-for-profit institutions.
Estimated Annual Burden Hours: 910,083.
OMB Number: 1545-1731.
Type of Review: Extension without change of a currently approved
collection.
Title: Revenue Procedure 2001-37, Extraterritorial Income Exclusion
Elections.
Abstract: A taxpayer that wants to revoke its election to be
treated as a domestic corporation for all purposes of the Internal
Revenue Code must file a revocation statement with the Internal Revenue
Service. This revenue procedure provides guidance for implementing the
elections (and revocation of such elections) established under the
``FSC Repeal and Extraterritorial Income Exclusion Act of 2000.''
Affected Public: Businesses or other for-profits.
Estimated Annual Burden Hours: 19.
OMB Number: 1545-1751.
Type of Review: Extension without change of a currently approved
collection.
Title: REG-107151-00 (TD 9035--Final) Constructive Transfers and
Transfers of Property to a Third Party on Behalf of a Spouse.
Abstract: The regulation sets forth the required information that
will permit spouses or former spouses to treat a redemption by a
corporation of stock of one spouse or former spouse as a transfer of
that stock to the other spouse or former spouse in exchange for the
redemption proceeds and a redemption of the stock from the latter
spouse or former spouse in exchange for the redemption proceeds.
Affected Public: Individuals or households; Businesses or other
for-profits.
Estimated Annual Burden Hours: 500.
OMB Number: 1545-1899.
Type of Review: Extension without change of a currently approved
collection.
Title: REG-138176-02 (Final) Timely Mailing Treated As Timely
Filing.
Abstract: Section 7502(a) of the Internal Revenue Code provides
that a document received after the due date for filing will be treated
as filed on the date of the United States postmark on the envelope
containing the document if the postmark date is on or before the date
for filing the document and the document is placed in the U.S. mail on
or before the due date. Under I.R.C. Sec. 7502, in order for taxpayers
to establish the postmark date and prima facie evidence of delivery
when using registered or certified mail to file documents with the IRS,
taxpayers will need to retain the sender's receipt.
Affected Public: Individuals or households; Businesses or other
for-profits; Not-for-profit institutions; Farms; Federal government;
and State, local, or tribal governments.
Estimated Annual Burden Hours: 1,084,765.
OMB Number: 1545-1906.
Type of Review: Extension without change of a currently approved
collection.
Title: REG-149524-03, LIFO Recapture Under Section 1363(d).
Abstract: This collection of information is required to inform the
IRS of partnerships electing to increase the basis of inventory to
reflect any amount included in a partner's income under section
1363(d).Section 1.1363-2(e)(ii) allows a partnership to elect to adjust
the basis of its inventory to take account of LIFO recapture. Section
1.1363-2(e)(3) provides guidance on how to make this election.
Affected Public: Individuals or households; Businesses or other
for-profits.
Estimated Annual Burden Hours: 200.
OMB Number: 1545-2061.
Type of Review: Extension without change of a currently approved
collection.
Title: Supplemental Attachment to Schedule M-3.
Form: Form 8916-A.
Abstract: Form 8916-A provides a detailed schedule that reconciles
the amount of the of cost of goods sold reported on Schedule M-3 for
the Form
[[Page 5524]]
1120, Form 1065, or Form 1120-S. The authority is Internal Revenue Code
section 6011 (P.L. 105-206, Title II, Sections 2001 through 2005).
Affected Public: Businesses or other for-profits.
Estimated Annual Burden Hours: 5,049,720.
OMB Number: 1545-2065.
Type of Review: Extension without change of a currently approved
collection.
Title: Notice of Qualified Equity Investment for New Markets
Credit.
Form: Form 8874-A.
Abstract: Internal Revenue Code sections 6109 and 6103 code section
45N. Section 45N was added by section 405 of the Tax Relief and Health
Care Act of 2006. Form 8874-A provides a means for the qualified mining
company to compute and claim the credit.
Affected Public: Individuals or households; Businesses or other
for-profits.
Estimated Annual Burden Hours: 2,715.
OMB Number: 1545-2067.
Type of Review: Extension without change of a currently approved
collection.
Title: Mine Rescue Team Training Credit.
Form: Form 8923.
Abstract: Form 8923, Mine Rescue Team Training Credit, provides a
means for the qualified mining company to compute and claim the credit.
Affected Public: Businesses or other for-profits.
Estimated Annual Burden Hours: 292.
OMB Number: 1545-2068.
Type of Review: Extension without change of a currently approved
collection.
Title: TD 9340 (Final) Revised Regulations Concerning Section
403(b) Tax-Sheltered Annuity Contracts.
Abstract: The collection of information in the regulations is in
final regulations under section 403(b) of the Internal Revenue Code and
under related provisions of sections 402(b), 402(g), 402A, and 414(c).
The regulations provide updated guidance on section 403(b) contracts of
public schools and tax-exempt organizations described in section
501(c)(3). Such information exchange is necessary to ensure compliance
with tax law requirements relating to loans and hardship distributions
from section 403(b) plans and sponsors of section 403(b) contracts,
administrators, participants, and beneficiaries.
Affected Public: Individuals or households; Not-for-profit
institutions; and State, local, or tribal governments.
Estimated Annual Burden Hours: 45,000.
OMB Number: 1545-2169.
Type of Review: Extension without change of a currently approved
collection.
Title: Notice 2010-30/Notice 2012-41--Transitional Guidance for
Taxpayers Claiming Relief Under the Military Spouses Residency Relief
Act for Taxable Year 2009 and subsequent years.
Abstract: On April 15, 2010, the Department of the Treasury and the
IRS published Notice 2010-30, 2010-18 I.R.B. 650, which provides relief
and procedures for certain taxpayers who are spouses (civilian spouses)
of active duty members of the uniformed services (servicemembers). The
relief and procedures were made available to civilian spouses who (A)
accompany their servicemember spouses to a military duty station in
American Samoa, Guam, the Northern Mariana Islands (NMI), Puerto Rico,
or the U.S. Virgin Islands (USVI) (each a ``U.S. territory'') and claim
residence or domicile (tax residence) in one of the 50 States or the
District of Columbia under the Military Spouses Residency Relief Act
(MSRRA) or (B) accompany their servicemember spouses to a military duty
station in one of the 50 States or the District of Columbia and claim
tax residence in a U.S. territory under MSRRA. The relief and
procedures set forth in Notice 2010-30 were initially available for the
taxable year 2009.
On June 7, 2012, the Treasury Department and the IRS published
Notice 2012-41, which extended the relief and procedures announced in
Notice 2010-30 to the subsequent taxable years. This notice further
extends the relief set forth in Notice 2010-30 for civilian spouses
described in the prior paragraph to taxable years beginning after
November 11, 2010 and subsequent calendar years, and provides that such
civilian spouses should follow the applicable procedures described in
Notice 2010-30.
Affected Public: Individuals or households.
Estimated Annual Burden Hours: 6,200.
OMB Number: 1545-2173.
Type of Review: Extension without change of a currently approved
collection.
Title: Hiring Incentives to Restore Employment (HIRE) Act Employee
Affidavit.
Form: Form W-11.
Abstract: This form was created in response to the Hiring
Incentives to Restore Employment (HIRE) Act, which was signed on March
18, 2010. The form was developed as a template for the convenience of
employers who must collect affidavits from qualifying employees. The
form is not filed; rather, an employer must retain the affidavit in
order to justify claiming certain HIRE Act benefits. A model form is
needed as soon as possible so that employers can begin confidently
claiming payroll exemptions. The useful life of the form is only from
March 18, 2010 to December 31, 2010.
Affected Public: Businesses or other for-profits.
Estimated Annual Burden Hours: 227,000.
OMB Number: 1545-2174.
Type of Review: Extension without change of a currently approved
collection.
Title: Form 14134, Application for Certificate of Subordination of
Federal Tax Lien, and Form 14135, Application for Certificate of
Discharge of Property from Federal Tax Lien.
Form: Form 14134, Form 14135.
Abstract: The collection of information is required by 26 CFR
301.6325-1(b)(5) for consideration of the United States discharging
property from the federal tax lien and is required by 26 CFR 301.6325-
1(d)(4) for consideration that the United States subordinate its
interest in property. These forms will provide guidance to ensure
proper documentation is submitted to the IRS.
Affected Public: Individuals or households; Businesses or other
for-profits; Not-for-profit institutions; Farms; Federal government;
and State, local, or tribal governments.
Estimated Annual Burden Hours: 22,665.
OMB Number: 1545-2175.
Type of Review: Extension without change of a currently approved
collection.
Title: Form 8942--Application for Certification of Qualified
Investments Eligible for Credits; Notice 2010-45--Qualifying
Therapeutic Discovery Project Credit.
Form: Form 8942.
Abstract: On March 23, 2010, the President signed the Patient
Protection and Affordable Care Act (Act) (Pub. L. 111-148). Section
9023(a) of the Act adds section 48D to the Internal Revenue Code.
Section 48D provides a 50-percent nonrefundable investment tax credit,
and corresponding grant in lieu of a tax credit, for qualified
investments in qualifying therapeutic discovery projects. The credit
and grant are designed to encourage investments in new therapies
relating to diseases.
[[Page 5525]]
Form 8942 will be used to apply for certification and credit.
Affected Public: Businesses or other for-profits.
Estimated Annual Burden Hours: 14,545.
Brenda Simms,
Treasury PRA Clearance Officer.
[FR Doc. 2014-02025 Filed 1-30-14; 8:45 am]
BILLING CODE 4830-01-P