[Federal Register Volume 82, Number 204 (Tuesday, October 24, 2017)]
[Notices]
[Page 49266]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-23087]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment Request for Federal Insurance
Contributions Act (FICA) Taxation of Amounts Under Employee Benefit
Plans (T.D. 8814)
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: The Internal Revenue Service (IRS), 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. The IRS is soliciting comments
concerning information collection requirements related to the treatment
amounts deferred under certain nonqualified deferred compensation
plans.
-----------------------------------------------------------------------
DATES: Written comments should be received on or before December 26,
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.
FOR FURTHER INFORMATION CONTACT: Requests for additional information or
copies of the regulation should be directed to Taquesha Cain, at (202)
317-8979 room 6526, 1111 Constitution Avenue NW., Washington, DC 20224,
or through the internet at [email protected].
SUPPLEMENTARY INFORMATION:
Title: Federal Insurance Contributions Act (FICA) Taxation of
Amounts Under Employee Benefit Plans.
OMB Number: 1545-1643.
Regulation Project Number: T.D. 8814
Abstract: Internal Revenue Code section 3121(v)(2) provides
guidance as to when amounts deferred under or paid from a nonqualified
deferred compensation plan are taken into account as wages for purposes
of the employment taxes imposed by the Federal Insurance Contributions
Act (FICA). Section 3121(v)(2), relating to treatment of certain
nonqualified deferred compensation, was added to the Code by section
324 of the Social Security Amendments of 1983. These regulations
provide guidance to employers who maintain nonqualified deferred
compensation plans and to participants in those plans.
Current Actions: There is no change in the paperwork burden
previously approved by OMB.
Type of Review: Extension of a currently approved collection.
Affected Public: Business or other for-profit organizations and
not-for-profit institutions.
Estimated Number of Respondents: 2,500.
Estimated Time per Respondent: 5 hours.
Estimated Total Annual Burden Hours: 12,500.
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: October 18, 2017.
L. Brimmer,
Senior Tax Analyst.
[FR Doc. 2017-23087 Filed 10-23-17; 8:45 am]
BILLING CODE 4830-01-P