[Federal Register Volume 77, Number 9 (Friday, January 13, 2012)]
[Notices]
[Pages 2131-2132]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2012-536]


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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

January 10, 2012.
    The Department of the Treasury will submit the following 
information collection request 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 February 13, 2012 to be 
assured of consideration.

ADDRESSES: Send comments regarding the burden estimate, or any other 
aspect of the information collection, including suggestion 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 11020, Washington, DC 20220, or on-
line at www.PRAComment.gov.

FOR FURTHER INFORMATION CONTACT: Copies of the submission(s) may be 
obtained by calling (202) 927-5331, email at [email protected], or the 
entire information collection request maybe found at www.reginfo.gov.

Internal Revenue Service (IRS)

    OMB Number: 1545-0127.
    Type of Review: Extension without change of a currently approved 
collection.

[[Page 2132]]

    Title: U.S. Income Tax Return for Homeowners Associations.
    Form: 1120-H.
    Abstract: Homeowners associations file Form 1120-H to report 
income, deductions, and credits. The form is also used to report the 
income tax liability of the homeowners association. The IRS uses Form 
1120-H to determine if the income, deductions, and credits have been 
correctly computed. The form is also used for statistical purposes.
    Affected Public: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 3,665,832.

    OMB Number: 1545-0941.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Report of a Sale or Exchange of Certain Partnership 
Interests.
    Form: 3808.
    Abstract: Form 8308 is an information return that gives the IRS the 
names of the parties involved in a section 751(a) exchange of a 
partnership interest. It is also used by the partnership as a statement 
to the transferor or transferee. It alerts the transferor that a 
portion of the gain on the sale of partnership interest may be ordinary 
income.
    Affected Public: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 1,460,000.

    OMB Number: 1545-1414.
    Type of Review: Revision of a currently approved collection.
    Title: Credit for Employer Social Security and Medicare Taxes Paid 
on Certain Employee Tips.
    Form: 8846.
    Abstract: Employers in food or beverage establishments where 
tipping is customary can claim an income tax credit for the amount of 
social security and Medicare taxes paid (employer's share) on tips, 
other than tips used to meet the minimum wage requirement.
    Affected Public: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 161,448.

    OMB Number: 1545-1487.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: TD 8834 (final)--Treatment of Distributions to Foreign 
Persons Under Sections 367(e)(1) and 367(e)(2).
    Abstract: Sections 367(e)(1) and 367(e)(2) provide for gain 
recognition on certain transfers to foreign persons under sections 355 
and 332. Section 6038B(a) requires U.S. persons transferring property 
to foreign persons in exchanges described in sections 332 and 355 to 
furnish information regarding such transfers.
    Affected Public: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 2,471.

    OMB Number: 1545-1657.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Revenue Procedure 99-32--Conforming Adjustments Subsequent 
to Section 482 Allocations.
    Abstract: This revenue procedure prescribes the applicable 
procedures for the repatriation of cash by a United States taxpayer via 
an interest-bearing account receivable or payable in an amount 
corresponding to the amount allocated under section 482 from, or to a 
related person with respect to a controlled transaction.
    Affected Public: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 1,620.

    OMB Number: 1545-1799.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Notice 2002-69, Interest Rates and Appropriate Foreign Loss 
Payment Patterns For Determining the Qualified Insurance Income of 
Certain Controlled Corporations under Section 954(f).
    Abstract: This notice provide guidance on how to determine the 
foreign loss payment patterns of a foreign insurance company owned by 
U.S. shareholder for purposes of determining the amount of investment 
income earned by the insurance company that is not treated as Subpart F 
income under section 954(i).
    Affected Public: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 300.

    OMB Number: 1545-1942.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Notice 2005-44, Charitable Contributions of Certain Motor 
Vehicles, Boats, and Airplanes.
    Abstract: The notice provides guidance under new Subsection 
170(f)(12) and 6720 regarding how to determine the amount of a 
charitable contribution for certain vehicles and the related 
substantiation and information reporting requirements.
    Affected Public: Individuals or Households.
    Estimated Total Burden Hours: 3,041.

    OMB Number: 1545-1950.
    Type of Review: Revision of a currently approved collection.
    Title: Return by a Shareholder Making Certain Late Elections to End 
Treatment as a Passive Foreign Investment Company.
    Form: 8621-A.
    Abstract: Form 8621-A is used by certain taxpayer/investors to 
request ending of their treatment as investing in a Passive Foreign 
Investment Company. New regulations are being written in support of the 
new products. The underlying law is in IRC sections 1297 and 1298.
    Affected Pubic: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 785.

    OMB Number: 1545-2135.
    Type of Review: Revision of a currently approved collection.
    Title: REG-133300-07 (TD 9447-final) Automatic Contribution 
Arrangements.
    Abstract: These regulations provide a method by which an automatic 
contribution arrangement can become a qualified automatic contribution 
arrangement and automatically satisfy the ADP test of section 
401(k)(3)A)(ii). These regulations also describe how an automatic 
contribution arrangement can become an eligible automatic contribution 
arrangement and employees can get back mistaken contributions.
    Affected Public: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 30,000.

Dawn D. Wolfgang,
Treasury PRA Clearance Officer.
[FR Doc. 2012-536 Filed 1-12-12; 8:45 am]
BILLING CODE 4830-01-P