[Federal Register Volume 82, Number 122 (Tuesday, June 27, 2017)]
[Notices]
[Page 29178]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-13341]
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment Request for Regulation Project
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Notice and request for comments.
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SUMMARY: The Internal Revenue Service, 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
information collections, as required by the Paperwork Reduction Act of
1995. The IRS is soliciting comments concerning exclusions from gross
income of foreign corporations.
DATES: Written comments should be received on or before August 28, 2017
to be assured of consideration.
ADDRESSES: Direct all written comments to L. Brimmer, Internal Revenue
Service, Room 6526, 1111 Constitution Avenue NW., Washington, DC 20224.
Requests for additional information or copies of the regulations should
be directed to Sara Covington, at Internal Revenue Service, Room 6526,
1111 Constitution Avenue NW., Washington, DC 20224, or through the
Internet, at [email protected].
SUPPLEMENTARY INFORMATION:
Title: Exclusions From Gross Income of Foreign Corporations.
OMB Number: 1545-1677.
Regulation Project Number: TD 9502.
Abstract: This regulation 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.
Current Actions: There are no changes being made to this existing
regulation.
Type of Review: Extension of a currently approved collection.
Affected Public: Businesses or other for-profit and not-for-profit
institutions and individuals or households.
Estimated Number of Respondents: 16,400.
Estimated Time per Respondent: 1 hr., 27 min.
Estimated Total Annual Burden Hours: 23,900.
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.
Request for Comments: Comments submitted in response to this notice
will be summarized and/or included in the request for OMB approval. All
comments will become a matter of public record. Comments are invited
on: (a) Whether the collection of information is necessary for the
proper performance of the functions of the agency, including whether
the information shall have 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 through the use of automated
collection techniques or other forms of information technology; and (e)
estimates of capital or start-up costs and costs of operation,
maintenance, and purchase of services to provide information.
Approved: June 19, 2017.
L. Brimmer,
Senior Tax Analyst.
[FR Doc. 2017-13341 Filed 6-26-17; 8:45 am]
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