[Federal Register Volume 76, Number 227 (Friday, November 25, 2011)]
[Notices]
[Pages 72753-72756]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2011-30353]


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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

November 21, 2011.
    The Department of the Treasury will submit the following public 
information collection requirements to OMB for review and clearance 
under the Paperwork Reduction Act of 1995, Public Law 104-13 on or 
after the date of publication of this notice. A copy of the submissions 
may be obtained by calling the Treasury Bureau Clearance Officer 
listed. Comments regarding these information collections should be 
addressed to the OMB reviewer listed and to the Treasury PRA Clearance 
Officer, Department of the Treasury, 1750 Pennsylvania Avenue NW., 
Suite 11010, Washington, DC 20220.

DATES: Written comments should be received on or before December 27, 
2011 to be assured consideration.

Internal Revenue Service (IRS)

    OMB Number: 1545-0184.
    Type of Review: Revision of a currently approved collection.
    Title: Sales of Business Property.
    Forms: 4797.
    Abstract: This form is used to report the details of gains and 
losses from the sale, exchange, involuntary conversion (from other than 
casualty or theft loss), or disposition of the following: Property used 
in your trade or business, depreciable or amortizable property, capital 
and non-capital (other than inventory) assets held in connection with 
the trade or business, or capital assets not reported on Schedule D. 
The form may also be used to compute the recapture amount under section 
179 and 280F(b)(2) when the business use of the property decreases to 
50 percent or below.
    Respondents: Individuals and Households.
    Estimated Total Burden Hours: 100,633,248.

    OMB Number: 1545-0238.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Certain Gambling Winnings.
    Forms: W-2G.
    Abstract: IRC section 6041 requires payers of certain gambling 
winnings to report them to IRS. If applicable, section 3402(g) and 
section 3406 require tax withholding on these winnings. We use the 
information to ensure taxpayer income reporting compliance.
    Respondents: Individuals and Households.
    Estimated Total Burden Hours: 1,272,479.

    OMB Number: 1545-0819.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Instructions for Requesting Rulings and Determination 
Letters (T.D. 9006).
    Abstract: This document contains final regulations relating to the 
notice to interested parties requirement. Before the IRS can issue an 
advance determination regarding the qualification of a retirement plan, 
a plan sponsor must provide evidence that it has notified all persons 
who qualify as interested parties that an application for an advance 
determination will be filed with the IRS. These regulations set forth 
standards by which a plan sponsor may satisfy the notice to interested 
parties requirement. The final regulations affect retirement plan 
sponsors, plan participants and other interested parties with respect 
to a determination letter application, and certain representatives of 
interested parties.
    Respondents: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 248,496.

    OMB Number: 1545-0967.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: U.S. Estate or Trust Income Tax Declaration and Signature 
for Electronic and Magnetic Media Filing.
    Forms: 8453-F, 8879-F.
    Abstract: This form is used to secure taxpayer signatures and 
declarations in conjunction with electronic and magnetic media filing 
of trust and fiduciary income tax returns. This form, together with the 
electronic and magnetic media transmission, will comprise the 
taxpayer's income tax return (Form 1041).
    Respondents: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 1,750.

    OMB Number: 1545-1012.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Salary Reduction Simplified Employee Pension-Individual 
Retirement Accounts Contribution Agreement.
    Forms: 5305A-SEP.
    Abstract: Form 5305A-SEP is used by an employer to make an 
agreement to provide benefits to all employees under a salary reduction 
Simplified Employee Pension (SEP) described in section 408(k). This 
form is not to be filed with IRS, but is to be retained in the 
employer's records as proof of establishing such a plan, thereby 
justifying a deduction for contributions made to the SEP. The data is 
used to verify the deduction.
    Respondents: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 972,000.

    OMB Number: 1545-1028.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: INTL-941-86 (NPRM) and INTL-655-87 (Temporary) (TD 8178) 
Passive Foreign Investment Companies.
    Abstract: These regulations specify how U.S. persons who are 
shareholders of passive foreign investment companies (PFICs) make 
elections with respect to their PFIC stock.
    Respondents: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 112,000.

    OMB Number: 1545-1073.
    Type of Review: Extension without change of a currently approved 
collection.

[[Page 72754]]

    Title: Credit for Prior Year Minimum Tax--Individuals, Estates and 
Trusts.
    Form: 8801.
    Abstract: Form 8801 is used by individuals, estates, and trusts to 
compute the minimum tax credit, if any, available from a tax year 
beginning after 1986 to be used in the current year or to be carried 
forward for use in a future year.
    Respondents: Individuals and Households.
    Estimated Total Burden Hours: 93,756.

    OMB Number: 1545-1091.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Corporate Passive Activity Loss and Credit Limitations.
    Form: 8810.
    Abstract: Under section 469, losses and credits from passive 
activities, to the extent they exceed passive income (or, in the case 
of credits, the tax attributable to meet passive income), are not 
allowed. Form 8810 is used by personal service corporations and closely 
held corporations to figure the passive activity loss and credits 
allowed and the amount of loss and credit to be reported on their tax 
return.
    Respondents: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 3,749,000.

    OMB Number: 1545-1218.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: CO-25-96 (TD 8824--Final) Regulations Under Section 1502 of 
the Internal Revenue Code of 1986; Limitations on Net Operating Loss 
Carryforwards and Certain Built-in Losses and Credits Following.
    Abstract: Section 1502 provides for the promulgation of regulations 
with respect to corporations that file consolidated income tax returns. 
Section 382 limits the amount of income that can be offset by loss 
carryovers and credits after an ownership change. These final 
regulations provide rules for applying section 382 to groups of 
corporations that file a consolidated return.
    Respondents: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 662.

    OMB Number: 1545-1364.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: REG-144615-02 (TD 9441) Methods to Determine Taxable Income 
in Connection with a Cost Sharing Arrangement.
    Abstract: This document contains temporary regulations that provide 
further guidance and clarification regarding methods under section 482 
to determine taxable income in connection with a cost sharing 
arrangement in order to address issues that have arisen in 
administering the current regulations. The temporary regulations affect 
domestic and foreign entities that enter into cost sharing arrangements 
described in the temporary regulations.
    Respondents: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 9,350.

    OMB Number: 1545-1484.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: REG-242282-97 (formerly Intl-62-90, Intl-32-93, Intl-52-86, 
and Intl-52-94) (TD-8881-final) General Revision of Regulations 
Relating to Withholding of Tax on Certain U.S. Source Income Paid to 
Foreign Persons.
    Abstract: This document contains amendments to final regulations 
relating to the withholding of income tax under sections 1441, 1442, 
and 1443 on certain U.S. source income paid to foreign persons and 
related requirements governing collection, deposit, refunds, and 
credits of withheld amounts under sections 1461 through 1463. 
Additionally, this document contains amendments under sections 6041, 
6041A, 6042, 6045, 6049, and 3406. This regulation affects persons 
making payments of U.S. source income to foreign persons.
    Respondents: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 1.

    OMB Number: 1545-1490.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: FI-28-96 (Final) Arbitrage Restrictions on Tax-Exempt Bonds.
    Abstract: The recordkeeping requirements are necessary for the 
Service to determine that an issuer of tax-exempt bonds has not paid 
more than fair market value for non-purpose investments under section 
148 of the Internal Revenue Code.
    Respondents: State, Local, and Tribal Governments.
    Estimated Total Burden Hours: 1,425.

    OMB Number: 1545-1644.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: REG-126024-01 (final) Reporting of Gross Proceeds Payment to 
Attorneys; TD 9270.
    Abstract: Information is required to implement section 1021 of the 
Taxpayer Relief Act of 1997. This information will be used by the IRS 
to verify compliance with section 6045 and to determine that the 
taxable amount of these payments has been computed correctly.
    Respondents: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 1.

    OMB Number: 1545-1675.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: REG-122450-98 (Final) Real Estate Mortgage Investment 
Conduits; REG-100276-97; REG-122450-98 (NPRM) Financial Asset 
Securitization Investment Trusts; Real Estate Mortgage Investment (TD 
9004).
    Abstract: REG-122450-98 Sections 1.860E-1(c)(4)-(10) of the 
Treasury Regulations provide circumstances under which a transferor of 
a noneconomic residual interest in a Real Estate Mortgage Investment 
Conduit (REMIC) meeting the investigation, and two representation 
requirements may avail itself of the safe harbor by satisfying either 
the formula test or asset test. This regulation provides start-up and 
transitional rules applicable to financial asset securitization 
investment trust.
    Respondents: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 1,220.

    OMB Number: 1545-1779.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Notice 2002-27--IRA Required Minimum Distribution Reporting.
    Abstract: This notice provides guidance with respect to the 
reporting requirements, that is, data that custodians and trustees of 
IRAs must furnish IRA owners in those instances where there must be a 
minimum distribution from an individual retirement arrangement.
    Respondents: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 1,170,000.

    OMB Number: 1545-1784.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Rev. Proc. 2002-32, Waiver of 60-month Bar on 
Reconsolidation after Disaffiliation; Rev. Proc. 2006-21-Modifications 
to Rev. Proc. 2002-32.
    Abstract: Revenue Procedure 2002-32 provides qualifying taxpayers 
with a waiver of the general rule of Sec.  1504(a)(3)(A) of the 
Internal Revenue Code barring corporations from filing consolidated 
returns as a member of a group of which it had been a member

[[Page 72755]]

for 60 months following the year of disaffiliation; Revenue Procedure 
2006-21 modifies Rev. Proc. 89-56, 1989-2 C.B. 643, Rev. Proc.90-39, 
1990-2 C.B. 365, and Rev. Proc. 2002-32, 2002-20 IRB p.959, to 
eliminate impediments to the electronic filing of Federal income tax 
returns (e-filing) and to reduce the reporting requirements in each of 
these revenue procedures.
    Respondents: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 100.

    OMB Number: 1545-1786.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Rev. Procs. 2002-39, 2006-45 (Previous 2002-37), 2006-46 
(Previous 2002-38) and Rev. Proc 2007-64; Changes in Periods of 
Accounting.
    Abstract: The collections of information in these three (3) revenue 
procedures is necessary for the Commissioner to determine whether a 
taxpayer may properly obtain approval to adopt, change, or retain an 
annual accounting period.
    Respondents: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 700.

    OMB Number: 1545-1793.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Rev. Proc. 2002-43, Determination of Substitute Agent for a 
Consolidated Group.
    Abstract: The information is needed in order for (i) a terminating 
common parent of a consolidated group to notify the IRS that it will 
terminate and to designate another corporation to be the group's 
substitute agent, pursuant to Treas. Reg. Sec. 1.1502-77(d)(1) or Sec. 
1.1052-77A(d); (ii) the remaining members of a consolidated group to 
designate a substitute agent pursuant to Sec. 1.1502-77A (d); (iii) the 
default substitute agent to notify the IRS that it is the default 
substitute agent pursuant to Sec. 1.1502-77(d)(2); or (iv) requests by 
a member of the group for the IRS to designate a substitute agent or 
replace a previously designated substitute agent. The IRS will use the 
information to determine whether to approve the designation (if 
approval is required), to designate a substitute agent, or to replace a 
substitute agent, and to change the IRS's records to reflect the name 
and other information about the substitute agent.
    Respondents: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 400.

    OMB Number: 1545-1795.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: T.D. 9079 (Final) Ten or More Employer Plan Compliance 
Information.
    Abstract: This document contains final regulations that provide 
rules regarding the requirements for a welfare benefit fund that is 
part of a 10 or more employer plan. The regulations affect certain 
employers that provide welfare benefits to employees through a plan to 
which more than one employer contributes.
    Respondents: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 2,500.

    OMB Number: 1545-1797.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: REG-106876-00 (TD9082) (Final), Revision of Income Tax 
Regulations under Sections 897, 1445, and 6109 to require use of 
Taxpayer Identifying Numbers on Submission under the Section 897 and 
1445.
    Abstract: The collection of information relates to applications for 
withholding certificates under Treas. Reg. 1.1445-1 to be filed with 
the IRS with respect to (1) dispositions of U.S. real property 
interests that have been used by foreign persons as a principle 
residence within the prior 5 years and excluded from gross income under 
section 121 and (2) dispositions of U.S. real property interests by 
foreign persons in deferred like kind exchanges that qualify for 
nonrecognition under section 1031.
    Respondents: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 600.

    OMB Number: 1545-1798.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: User Fee for Exempt Organization Determination Letter 
Request.
    Form: 8718.
    Abstract: The Omnibus Reconciliation Act of 1990 requires payment 
of a ``user fee'' with each application for a determination letter. 
Because of this requirement, the Form 8718 was created to provide 
filers the means to make payment and indicate the type of request.
    Respondents: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 16,667.

    OMB Number: 1545-1930.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: (T.D. 9248) (Final and Temporary) Residence and Source Rules 
Involving U.S. Possessions and Other Conforming Changes.
    Abstract: The regulations provide rules for determining whether an 
individual is a bona fide resident of a U.S. possession and whether 
income is derived from sources in a possession or effectively connected 
with the conduct of a trade or business in a possession.
    Respondents: Individuals and Households.
    Estimated Total Burden Hours: 30,000.

    OMB Number: 1545-1935.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Notice 2005-40, Election to Defer Net Experience Loss in a 
Multiemployer Plan.
    Abstract: This notice describes the election that must be filed by 
an eligible multiemployer plan's enrolled actuary to the Service in 
order to defer a net experience loss. The notice also describes the 
notification that must be given to plan participants and beneficiaries, 
to labor organization, to contributing employers and to the Pension 
Benefit Guaranty Corporation within 30 days of making an election with 
the Service and the certification that must be filed if a restricted 
amendment is adopted.
    Respondents: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 960.

    OMB Number: 1545-1937.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Notice 2005-41, Guidance Regarding Qualified Intellectual 
Property Contributions.
    Abstract: This notice explains new section 170(e)(1)(B)(iii) and 
170(m) as added by section 882 of the American Jobs Creation Act of 
2004. Under section 170(e)(1)(B)(iii), a donor's initial charitable 
contribution deduction for a gift of qualified intellectual property is 
limited to the lesser of the donor's adjusted basis is the property or 
its fair market value. Under section 170(m), the donor may claim 
additional deduction in subsequent years if the property produces 
income.
    Respondents: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 30.

    OMB Number: 1545-1939.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Notice 2005-32--Notification Requirement for Transfer of 
Partnership

[[Page 72756]]

Interest in Electing Investment Partnership (EIP).
    Abstract: The American Jobs Creation Act of 2004, Public Law 108-
357, 118 Stat. 1418 (the Act), was enacted on October 22, 2004. The 
Treasury Department and the Internal Revenue Service intend to issue 
regulations implementing Sec. Sec.  833 and 834 of the Act, which 
amended 704, 734, 743, and 6031 of the Internal Revenue Code. This 
notice provides interim procedures for partnerships and their partners 
to comply with the mandatory basis provisions of 734 and 743, as 
amended by the Act. This notice also provides interim procedures for 
electing investment partnerships (EIPs) and their partners to comply 
with Sec. Sec.  743(e) and 6031(f), as provided in Sec.  833(b) of the 
Act.
    Respondents: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 552,100.

    OMB Number: 1545-1940.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: RP-2005-26--Revenue Procedure Regarding Extended Period of 
Limitations for Listed Transaction Situations.
    Abstract: This revenue procedure provides procedures that taxpayers 
and material advisors may use to disclose a listed transaction that the 
taxpayer previously failed to disclose.
    Respondents: Individuals and Households.
    Estimated Total Burden Hours: 430.

    OMB Number: 1545-2129.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Exercise of an Incentive Stock Option Under * * *; Transfer 
of Stock Acquired Through an * * *; REG-103146-08--Information 
Reporting Requirements Under Code Sec. 6039.
    Forms: 3922, 3921.
    Abstract: Form 3921 is a copy of the information return filed with 
the IRS which transferred shares of stock to a recipient through 
exercise of an incentive stock option under section 422(b). Form 3922 
is used to record a transfer of the legal title of a share of stock 
acquired by the employee where the stock was acquired pursuant to the 
exercise of an option described in section 423(c). REG-103146-08--
reflects the changes to section 6039 of the Internal Revenue Code made 
by section 403 of the Tax Relief and Health Care Act of 2006.
    Respondents: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 25,205.

    Bureau Clearance Officer: Yvette Lawrence, Internal Revenue 
Service, 1111 Constitution Avenue NW., Washington, DC 20224; (202) 927-
4374.
    OMB Reviewer: Shagufta Ahmed, Office of Management and Budget, New 
Executive Office Building, Room 10235, Washington, DC 20503; (202) 395-
7873.

Dawn D. Wolfgang,
Treasury PRA Clearance Officer.
[FR Doc. 2011-30353 Filed 11-23-11; 8:45 am]
BILLING CODE 4830-01-P