[Federal Register Volume 82, Number 208 (Monday, October 30, 2017)]
[Notices]
[Pages 50223-50224]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-23493]
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment Request for Form 1041-N
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
proposed and/or continuing information collections, as required by the
Paperwork Reduction Act of 1995. The IRS is soliciting comments
concerning Form 1041-N, U.S. Income Tax Return for Electing Alaska
Native Settlement Trusts.
DATES: Written comments should be received on or before December 29,
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 form and
instructions should be directed to LaNita Van Dyke, Internal Revenue
Service, Room 6526, 1111 Constitution Avenue NW., Washington, DC 20224,
or through the Internet at [email protected].
SUPPLEMENTARY INFORMATION:
Title: U.S. Income Tax Return for Electing Alaska Native Settlement
Trusts.
OMB Number: 1545-1776.
Form Number: 1041-N.
Abstract: An Alaska Native Settlement Trust (ANST) may elect under
section 646 to have the special income tax treatment of that section
apply to the trust and its beneficiaries. This one-time election is
made by filing Form 1041-N which is used by the ANST to report its
income, etc., and to compute and pay any income tax. Form 1041-N is
also used for the special information reporting requirements that apply
to ANSTs.
Current Actions: There are no changes being made to the form at
this time.
Type of Review: Extension without change of a currently approved
collection.
Affected Public: Business or other for-profit organizations.
Estimated Number of Respondents: 20.
Estimated Time per Respondent: 35 hrs.
Estimated Total Annual Burden Hours: 700.
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
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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 4, 2017.
L. Brimmer,
Senior Tax Analyst.
[FR Doc. 2017-23493 Filed 10-27-17; 8:45 am]
BILLING CODE 4830-01-P