[Federal Register Volume 79, Number 125 (Monday, June 30, 2014)]
[Notices]
[Pages 36869-36870]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-15157]


=======================================================================
-----------------------------------------------------------------------

DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

June 24, 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 July 30, 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 emailing [email protected], calling (202) 622-1295, or 
viewing the entire information collection request at www.reginfo.gov.

Internal Revenue Service (IRS)

    OMB Number: 1545-1201.

[[Page 36870]]

    Type of Review: Revision of a currently approved collection.
    Title: Election to Expense Certain Depreciable Business Assets.
    Abstract: The regulations provide rules on the election described 
in Internal Revenue Code section 179(b)(4); the apportionment of the 
dollar limitation among component members of a controlled group; and 
the proper order for deducting the carryover of disallowed deduction. 
The recordkeeping and reporting requirements are necessary to monitor 
compliance with the section 179 rules.
    Affected Public: Individuals or households; Farms; Businesses or 
other for-profits.
    Estimated Annual Burden Hours: 3,015,000.

    OMB Number: 1545-1677.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Exclusions From Gross Income of Foreign Corporations.
    Abstract: TD 9502 contains rules implementing the portions of 
section 883(a) and (c) of the Internal Revenue Code that relate to 
income derived by foreign corporations from the international operation 
of a ship or ships or aircraft. The rules provide, in general, that a 
foreign corporation organized in a qualified foreign country and 
engaged in the international operation of ships or aircraft shall 
exclude qualified income from gross income for purposes of United 
States Federal income taxation, provided that the corporation can 
satisfy certain ownership and related documentation requirements.
    Affected Public: Individuals or households; Businesses or other 
for-profits; and Not-for-profit institutions.
    Estimated Annual Burden Hours: 23,900.

    OMB Number: 1545-2197.
    Type of Review: Revision of a currently approved collection.
    Title: Form 1097-BTC, Bond Tax Credit.
    Form: Form 1097-BTC.
    Abstract: Bond tax credits distributed by holders and issuers of 
tax credit bonds will be reported on this form. The form will be sent 
to taxpayers that received the distribution.
    Affected Public: Businesses or other for-profits; Not-for-profit 
institutions.
    Estimated Annual Burden Hours: 67.

    OMB Number: 1545-2206.
    Type of Review: Revision of a currently approved collection.
    Title: Reinstatement and Retroactive Reinstatement for Reasonable 
Cause (Rev. Proc. 2014-11) and Transitional Relief for Small 
Organizations (Notice 2011-43) under IRC Sec.  6033(j).
    Abstract: This revenue procedure provides procedures for 
reinstating the tax-exempt status of organizations that have had their 
tax-exempt status automatically revoked under section 6033(j) of the 
Internal Revenue Code for failure to file required annual returns or 
notices for three consecutive years. The revenue procedure prescribes 
certain circumstances under which an organization can have its tax-
exempt status retroactively reinstated to the date of revocation. 
Notice 2011-44 is modified and superseded. Notice 2011-43 provides 
transitional relief for certain small organizations that have lost 
their tax-exempt status because they failed to file a required annual 
electronic notice (Form 990-N e-Postcard) for taxable years beginning 
in 2007, 2008 and 2009.
    Affected Public: Not-for-profit institutions.
    Estimated Annual Burden Hours: 6,206.

Brenda Simms,
Treasury PRA Clearance Officer.
[FR Doc. 2014-15157 Filed 6-27-14; 8:45 am]
BILLING CODE 4830-01-P