[Federal Register Volume 80, Number 51 (Tuesday, March 17, 2015)]
[Notices]
[Pages 13950-13951]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-06002]
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Information Collection; Comment Request
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Notice and request for comments.
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SUMMARY: The Department of the Treasury, as part of its continuing
effort to reduce paperwork and respondent burden, invites the general
public and other Federal agencies to take this opportunity to comment
on proposed and/or continuing information collections, as required by
the Paperwork Reduction Act of 1995, Public Law 104-13 (44 U.S.C.
3506(c)(2)(A)).
DATES: Written comments should be received on or before May 18, 2015 to
be assured of consideration.
ADDRESSES: Direct all written comments to Christie A. Preston, Internal
Revenue Service, Room 6129, 1111 Constitution Avenue NW., Washington,
DC 20224. Please send separate comments for each specific information
collection listed below. You must reference the information
collection's title, form number, reporting or record-keeping
requirement number, and OMB number (if any) in your comment.
FOR FURTHER INFORMATION CONTACT: To obtain additional information, or
copies of the information collection and instructions, or copies of any
comments received, contact Elaine Christophe, at Internal Revenue
Service, Room 6129, 1111 Constitution Avenue NW., Washington, DC 20224,
or through the internet, at [email protected].
SUPPLEMENTARY INFORMATION:
Request for Comments
The Department of the Treasury and the Internal Revenue Service, as
part of their continuing effort to reduce paperwork and respondent
burden, invite the general public and other Federal agencies to take
this opportunity to comment on the proposed or continuing information
collections listed below in this notice, as required by the Paperwork
Reduction Act of 1995, (44 U.S.C. 3501 et seq.).
Request for Comments: Comments submitted in response to this notice
will be summarized and/or included in our request for Office of
Management and Budget (OMB) approval of the relevant information
collection. All comments will become a matter of public record. Please
do not include any confidential or inappropriate material in your
comments.
We invite comments on: (a) Whether the collection of information is
necessary for the proper performance of the agency's functions,
including whether the information has practical utility; (b) the
accuracy of the agency's estimate of the burden of the collection of
information; (c) ways to enhance the quality, utility, and clarity of
the information to be collected; (d) ways to minimize the burden of the
collection of information on respondents, including the use of
automated collection techniques or other forms of information
[[Page 13951]]
technology; and (e) estimates of capital or start-up costs and costs of
operation, maintenance, and purchase of services to provide the
requested information. Currently, the IRS is seeking comments
concerning the following forms, and reporting and record-keeping
requirements:
Title: Below-Market Loans.
OMB Number: 1545-0913.
Regulation Project Number: TD 8045 Below-Market Loans.
Abstract: Internal Revenue Code section 7872 re-characterizes a
below-market loan as a market rate loan and an additional transfer by
the lender to the borrower equal to the amount of imputed interest. The
regulation requires both the lender and the borrower to attach a
statement to their respective income tax returns for years in which
they have imputed income or claim imputed deductions under Code section
7872.
Current Actions: There is no change to this existing regulation.
Type of Review: Extension of a currently approved collection.
Affected Public: Individuals or households, and business or other
for-profit organizations.
Estimated Number of Respondents: 1,926,888.
Estimated Time per Respondent: 15 min.
Estimated Total Annual Burden Hours: 481,722.
Title: Notice of Income Donated Intellectual Property.
OMB Number: 1545-1962.
Form Number: Form 8899.
Abstract: Form 8899 is filed by charitable org. receiving donations
of intellectual property if the donor provides timely notice. The
initial deduction is limited to the donor's basis; additional
deductions are allowed to the extent of income from the property,
reducing excessive deductions.
Current Actions: There is no change in the paperwork burden
previously approved by OMB. This form is being submitted for renewal
purposes only.
Type of Review: Extension of a currently approved collection.
Affected Public: Business or other for-profit, and not-for-profit
institutions.
Estimated Number of Respondents: 1,000.
Estimated Time per Respondent: 5 hrs. 26 min.
Estimated Total Annual Burden Hours: 5,430.
Titles: Taxpayer Advocacy Panel (TAP) Membership Application;
Taxpayer Advocacy Panel Tax Check Waiver.
OMB Number: 1545-1788.
Form Numbers: 13013, 13013-D.
Abstract: Form 13013, Taxpayer Advocacy Panel (TAP) Membership
Application, is used as an application to volunteer to serve on the
Taxpayer Advocacy Panel (TAP), an advisory panel to the Internal
Revenue Service. The TAP application is necessary for the purpose of
recruiting perspective members to voluntarily participate on the
Taxpayer Advocacy Panel for the Internal Revenue Service. It is
necessary to gather information to rank applicants as well as to
balance the panels demographically.
Abstract: Form 13013-D, Taxpayer Advocacy Panel Tax Check Waiver,
is used by new and continuing members of IRS Advisory Committees/
Councils who are required to undergo a tax compliance check as a
condition of membership. The tax check wavier authorizes the Government
Liaison Disclosure analysts to provide the results to the appropriate
IRS officials.
Current Actions: There are no changes being made to the forms at
this time.
Type of Review: Extension of a currently approved collection.
Affected Public: Individuals.
Estimated Number of Respondents: 800.
Estimated Total Annual Burden Hours: 578.
The following paragraph applies to all of the collections of
information covered by this notice:
An agency may not conduct or sponsor, and a person is not required
to respond to, a collection of information unless the collection of
information displays a valid OMB control number. Books or records
relating to a collection of information must be retained as long as
their contents may become material in the administration of any
internal revenue law. Generally, tax returns and tax return information
are confidential, as required by 26 U.S.C. 6103.
Dated: March 9, 2015.
Christie A. Preston,
IRS Reports Clearance Officer.
[FR Doc. 2015-06002 Filed 3-16-15; 8:45 am]
BILLING CODE 4830-01-P