[Federal Register Volume 80, Number 189 (Wednesday, September 30, 2015)]
[Notices]
[Pages 58811-58813]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-24678]
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DEPARTMENT OF THE TREASURY
Submission for OMB Review; Comment Request
AGENCY: Department of the Treasury.
ACTION: Notice.
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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 October 30, 2015 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 8140, Washington,
DC 20220, or email at [email protected].
FOR FURTHER INFORMATION CONTACT: Copies of the submission(s) may be
obtained by email at [email protected] or the entire information
collection request may be found at www.reginfo.gov.
SUPPLEMENTARY INFORMATION:
Internal Revenue Service (IRS)
OMB Number: 1545-0047.
Type of Review: Extension without change of a previously approved
collection.
Title: Return of Organization Exempt From Income Tax Under Section
501(c), 527, or 4947(a)(1) of the Internal Revenue Code (except black
lung benefit trust or private foundation).
Form: Form 990 and schedules.
Abstract: Form 990 is needed to determine that IRC section 501(a)
tax-exempt organizations fulfill the operating conditions within the
limitations of their tax exemption. Form 990 is used by tax-exempt
organizations, nonexempt charitable trusts, and section 527 political
organizations to provide the IRS with the information required by
section 6033.
Affected Public: Private Sector: Not-for-profit institutions.
Estimated Annual Burden Hours: 24,951,529.
OMB Number: 1545-0957.
Type of Review: Extension without change of a previously approved
collection.
Title: Request for Waiver From Filing Information Returns
Electronically/Magnetically (Forms W-2, W-2G, 1042-S, 1098 Series, 1099
Series, 5498 Series, and 8027.
Form: 8508.
Abstract: Certain filers of information returns are required by law
to file on magnetic media. In some instances, waivers from this
requirement are necessary and justified. Form 8508 is submitted by the
filer and provides information on which IRS will base its waiver
determination.
[[Page 58812]]
Affected Public: Private Sector: Businesses or other for-profits.
Estimated Annual Burden Hours: 750.
OMB Number: 1545-1086.
Type of Review: Extension without change of a previously approved
collection.
Title: Excise Tax on Greenmail.
Form: 8725.
Abstract: Form 8725 is used to report and pay the 50% excise tax
imposed under section 5881 on the gain or other income realized on the
receipt of greenmail. Greenmail is considered received when the gain or
other income is realized under any method of accounting regardless of
whether the gain or other income is recognized. IRS uses the
information to verify that the correct amount of tax has been reported.
Affected Public: Private Sector: Businesses or other for-profits.
Estimated Annual Burden Hours: 92.
OMB Number: 1545-1225.
Type of Review: Extension without change of a previously approved
collection.
Title: Notice of Plan Merger or Consolidation, Spinoff, or Transfer
of Plan Assets or Liabilities; Notice of Qualified Separate Lines of
Business.
Form: 5310-A.
Abstract: Plan administrators are required to notify IRS of any
plan mergers, consolidations, spinoffs, or transfers of plan assets or
liabilities to another plan. Employers are required to notify IRS of
separate lines of business for their deferred compensation plans. Form
5310-A is used to make these notifications.
Affected Public: Private Sector: Businesses or other for-profits.
Estimated Annual Burden Hours: 158,800.
OMB Number: 1545-1227.
Type of Review: Extension without change of a previously approved
collection.
Title: Final Tax Treatment of Salvage and Reinsurance.
Abstract: The regulation provides a disclosure requirement for an
insurance company that increases losses shown on its annual statement
by the amount of estimated salvage recoverable taken into account.
Affected Public: Private Sector: Businesses or other for-profits.
Estimated Annual Burden Hours: 5,000.
OMB Number: 1545-1380.
Type of Review: Revision of a previously approved collection.
Title: Reporting Requirements for Recipients of Points Paid on
Residential Mortgages.
Form: 1098.
Abstract: To encourage compliance with the tax laws relating to the
mortgage interest deduction, the regulations require the reporting on
Form 1098 of points paid on residential mortgage. Only businesses that
receive mortgage interest in the course of a trade or business are
affected by this reporting requirement.
Affected Public: Private Sector: Businesses or other for-profits.
Estimated Annual Burden Hours: 8,321,755.
OMB Number: 1545-1434.
Type of Review: Extension without change of a previously approved
collection.
Title: CO-26-96 (Final) Regulations Under Section 382 of the
Internal Revenue Code of 1986; Application of Section 382 in Short
Taxable Years and With Respect to Controlled Groups.
Abstract: Section 382 limits the amount of income that can be
offset by loss carryovers after an ownership change. These regulations
provide rules for applying section 382 in the case of short taxable
years and with respect to controlled groups.
Affected Public: Private Sector: Businesses or other for-profits.
Estimated Annual Burden Hours: 875.
OMB Number: 1545-1528.
Type of Review: Extension without change of a previously approved
collection.
Title: Revenue Procedure 97-15, Section 103--Remedial Payment
Closing Agreement Program.
Abstract: This information is required by the Internal Revenue
Service to verify compliance with sections 57, 103, 141, 142, 144, 145,
and 147 of the Internal Revenue Code of 1986, as applicable (including
any corresponding provision, if any, of the Internal Revenue Code of
1954). This information will be used by the Service to enter into a
closing agreement with the issuer of certain state or local bonds and
to establish the closing agreement amount.
Affected Public: State, Local, and Tribal Governments.
Estimated Annual Burden Hours: 75.
OMB Number: 1545-1536.
Type of Review: Extension without change of a previously approved
collection.
Title: REG-209823-96 (TD 8791)--Guidance Regarding Charitable
Remainder Trusts and Special Valuation Rules for Transfer of Interests
in Trusts.
Abstract: A charitable remainder trust provides for a specified
periodic distribution to one or more beneficiaries for life or for a
term of years with an irrevocable remainder interest held for the
benefit of charity. A contribution to a charitable remainder trust
generally qualifies for a charitable deduction. Regulation REG-209823-
96 provides an alternative method and guidance, allowing a taxpayer to
use a current qualified appraisal (as defined in Sec. 1.170A-13(c)(3))
from a qualified appraiser (as defined in Sec. 1.170A-13(c)(5)) for
valuing a trust's difficult-to-value assets, which may reduce cost to
taxpayer and offer be less burdensome.
Affected Public: Private Sector: Businesses or other for-profits.
Estimated Annual Burden Hours: 75.
OMB Number: 1545-1685.
Type of Review: Extension without change of a previously approved
collection.
Title: Tax Shelter Disclosure Regulations (T.D. 9046).
Abstract: These regulations finalize the rules relating to the
filing by certain taxpayers of a disclosure statement with their
Federal tax returns under section 6011(a), the rules relating to the
registration of confidential corporate tax shelters under section
6111(d), and the rules relating to the list maintenance requirements
under section 6112. These regulations affect taxpayers participating in
reportable transactions, persons responsible for registering
confidential corporate tax shelters, and organizers and sellers of
potentially abusive tax shelters.
Affected Public: Private Sector: Businesses or other for-profits.
Estimated Annual Burden Hours: 1.
OMB Number: 1545-1965.
Type of Review: Extension without change of a previously approved
collection.
Title: TD 9360 (REG-133446-03) (Final) Guidance on Passive Foreign
Company (PFIC) Purging Elections.
Abstract: The IRS needs the information to substantiate the
taxpayer's computation of the taxpayer's share of the PFIC's post-1986
earning and profits.
Affected Public: Individuals and Households.
Estimated Annual Burden Hours: 250.
OMB Number: 1545-2126.
Type of Review: Extension without change of a previously approved
collection.
Title: Credit for Employer Differential Wage Payments.
Form: 8932.
Abstract: Qualified employers will file Form 8932 to claim the
credit for qualified differential wage payments paid to qualified
employees after June 17, 2008, and before January 1, 2010. Authorized
under I.R.C. section 45P.
[[Page 58813]]
Affected Public: Private Sector: Businesses or other for-profits.
Estimated Annual Burden Hours: 62,456.
OMB Number: 1545-2226.
Type of Review: Extension without change of a previously approved
collection.
Title: Work Opportunity Credit for Qualified Tax-Exempt
Organizations Hiring Qualified Veterans.
Form: 5884-C.
Abstract: Form 5884-C was developed as a result of VOW to Hire
Heroes Act of 2011, Public Law 112-56. Section 261 of Public Law 112-56
expanded the Work Opportunity Credit to tax-exempt organizations that
hire unemployed veterans. The tax credit is a reduction in payroll
taxes paid by the tax-exempt organization. Form 5884-C allows a tax-
exempt organization a way to claim the credit and provides the IRS the
information to process the tax credit.
Affected Public: Private Sector: Not-for-profit institutions.
Estimated Annual Burden Hours: 397,683.
Dated: September 24, 2015.
Dawn D. Wolfgang,
Treasury PRA Clearance Officer.
[FR Doc. 2015-24678 Filed 9-29-15; 8:45 am]
BILLING CODE 4830-01P