[Federal Register Volume 77, Number 82 (Friday, April 27, 2012)]
[Notices]
[Pages 25230-25231]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2012-10163]


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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

April 24, 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 May 29, 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 8140, 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: 1545-1146.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: TD 8444--Applicable Conventions Under the Accelerated Cost 
Recovery System PS-54-89.
    Abstract: The regulations describe the time and manner of making 
the notation required to be made on Form 4562 under certain 
circumstances when the taxpayer transfer property in certain non-
recognition transactions. The information is necessary to monitor 
compliance with the section 168 rules.
    Affected Public: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 70.

    OMB Number: 1545-1959.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Contributions of Motor Vehicles, Boats, and Airplanes.
    Form: 1098-C.
    Abstract: Section 884 of the American Jobs Creation Act of 1004 
(Pub. L. 108-357) added paragraph 12 to section 170(f) for 
contributions of used motor vehicles, boats, and airplanes. Section 
170(f)(12) requires that a donee organization provide an 
acknowledgement to the donor of this type of property and is required 
to file the same information to the Internal Revenue Service. Form 
1098-C may be used as the acknowledgement and it, or an acceptable 
substitute, must be filed with the IRS.
    Affected Public: Private Sector: Not-for-profits institutions.
    Estimated Total Burden Hours: 6,500.

    OMB Number: 1545-1966.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: TD 9263--Income Attributable to Domestic Production 
Activities.
    Abstract: This document contains final regulations concerning the 
deduction for income attributable to domestic production activities 
under section 199 of the Internal Revenue Code. Section 199 was enacted 
as part of the American Jobs Creation Act of 2004 (Act). The 
regulations will affect taxpayers engaged in certain domestic 
production activities.
    Affected Public: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 9,000.

    OMB Number: 1545-1992.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: TD 9324--Designated Roth Contributions Under Section 402A.
    Abstract: The regulations set forth the rules for taxation of 
distributions from Designated Roth Accounts which are a part of a 
401(k) plan or 403(b) plan.
    Affected Public: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 828,000.

    OMB Number: 1545-2120.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Revenue Procedure 2008-60: Election Involving the Repeal of 
the Bonding Requirement under Sec.  42(j)(6).
    Abstract: This revenue procedure affects taxpayers who are 
maintaining a surety bond or a Treasury Direct Account (TDA) to satisfy 
the low-income housing tax credit recapture exception in Sec.  42(j)(6) 
of the Internal Revenue Code, as in effect on or before July 30, 2008. 
This revenue procedure provides the procedures for taxpayers to follow 
when making the election under section 3004(i)(2)(B)(ii) of the Housing 
Assistance Tax Act of 2008 (Pub. L. 110-289) to no longer maintain a 
surety bond or a TDA to avoid recapture.

[[Page 25231]]

    Affected Public: Individuals or Households.
    Estimated Total Burden Hours: 7,810.

    OMB Number: 1545-2144.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Validating Your TIN and Reasonable Cause.
    Form: 13997.
    Abstract: Under the provisions of Internal Revenue Code Section 
(IRC Sec.  ) 6039E, Information Concerning Resident Status, individuals 
are required to provide certain information (see IRC Sec.  6039E(b)) 
with their application for a U.S. passport or with their application 
for permanent U.S. residence. This form is an attachment to Letter 4318 
to inform the individual about the IRC provisions, the penalty, and to 
request them to complete this form and return it to the IRS.
    Affected Public: Individuals or Households.
    Estimated Total Burden Hours: 2,000.

    OMB Number: 1545-2203.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Form 8939, Allocation of Increase in Basis for Property 
Acquired From a Decedent.
    Form: 8939 and Schedules.
    Abstract: Section 6018 of the Internal Revenue Code requires this 
return to be filed by an executor the fair market value of all property 
(other than cash) acquired from the decedent is more than $1.3 million; 
in the case of a decedent who was a nonresident not a citizen of the 
United States, the fair market value of tangible property situated in 
the United States and other property acquired from the decedent by a 
United States person is greater than $60,000; or appreciated property 
is acquired from the decedent that the decedent acquired by gift within 
three years of death and a gift tax return was required to be filed on 
the transfer to the decedent. Section 6018(e) also requires executors 
who must file Form 8939 to provide the same information to recipients 
of the property as the executor must provide to the IRS.
    Affected Public: Individuals or Households.
    Estimated Total Burden Hours: 2,482,080.

    OMB Number: 1545-2218.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Notice 2011-83, Pennsylvania Low-Income Housing Credit 
Disaster Relief.
    Abstract: The Internal Revenue Service is suspending certain 
requirements under Sec.  42 of the Internal Revenue Code for low-income 
housing credit projects to provide emergency housing relief needed as a 
result of the devastation caused by Hurricane Irene in Pennsylvania 
during the period of August 26, 2011 to August 30, 2011, and Tropical 
Storm Lee beginning on September 3, 2011.
    Affected Public: Individual or Households.
    Estimated Total Burden Hours: 150.

    OMB Number: 1545-2219.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Reporting Abusive Tax Promotions or Preparers.
    Form: 14242.
    Abstract: The form is used to report an abusive tax avoidance 
scheme and tax return preparers who promote such schemes. The 
information is collected to combat abusive tax promoters. Respondents 
can be individuals, businesses and tax return preparers.
    Affected Public: Individual or Households; Private Sector: 
Businesses or other for-profit, not-for-profit institutions.
    Estimated Total Burden Hours: 3,600.

    OMB Number: 1545-2220.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Notice 2011-87, New York Low-Income Housing Credit Disaster 
Relief.
    Abstract: The Internal Revenue Service is suspending certain 
requirements under Sec.  42 of the Internal Revenue Code for low-income 
housing credit projects to provide emergency housing relief needed as a 
result of the devastation in New York caused by either Hurricane Irene 
during the period of August 26, 2011 to September 5, 2011, or the 
remnants of Tropical Storm Lee during the period of September 7, 2011 
to September 11, 2011.
    Affected Public: Individual or Households.
    Estimated Total Burden Hours: 300.

    OMB Number: 1545-2221.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Mortgage Assistance Payments.
    Form: 1098-MA.
    Abstract: Information is needed to identify taxpayers who may not 
be taking a correct mortgage interest deduction, since mortgage 
servicers processing mortgage payments may not be able to segregate 
payments received from government funds versus payments made by 
individual mortgagees. Respondents include the Department of Housing 
and Urban Development and State Housing Finance Agencies from the 50 
states and the District of Columbia.
    Affected Public: State, Local, and Tribal Governments.
    Estimated Total Burden Hours: 170,400.

Dawn D. Wolfgang,
Treasury PRA Clearance Officer.
[FR Doc. 2012-10163 Filed 4-26-12; 8:45 am]
BILLING CODE 4830-01-P