[Federal Register Volume 77, Number 150 (Friday, August 3, 2012)]
[Notices]
[Pages 46557-46559]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2012-18946]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Information Collection; Comment Request

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

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SUMMARY: The Department of the Treasury, 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, Public Law 104-13 (44 U.S.C. 
3506(c)(2)(A)).

DATES: Written comments should be received on or before October 2, 2012 
to be assured of consideration.

ADDRESSES: Direct all written comments to Yvette B. Lawrence, Internal 
Revenue Service, Room 6129, 1111 Constitution Avenue NW., Washington, 
DC 20224.
    Please send separate comments for each specific information 
collection listed below. You must reference the information 
collection's title, form number, reporting or record-keeping 
requirement number, and OMB number (if any) in your comment.

FOR FURTHER INFORMATION CONTACT: To obtain additional information, or 
copies of the information collection and instructions, or copies of any 
comments received, contact Elaine Christophe, at (202) 622-3179, or at 
Internal Revenue Service, Room 6129, 1111 Constitution Avenue NW., 
Washington, DC 20224, or through the Internet, at 
[email protected].

SUPPLEMENTARY INFORMATION: 

Request for Comments

    The Department of the Treasury and the Internal Revenue Service, as 
part of their continuing effort to reduce paperwork and respondent 
burden, invite the general public and other Federal agencies to take 
this opportunity to comment on the proposed or continuing information 
collections listed below in this notice, as required by the Paperwork 
Reduction Act of 1995, (44 U.S.C. 3501 et seq.).
    Request for Comments: Comments submitted in response to this notice 
will be summarized and/or included in our request for Office of 
Management and Budget (OMB) approval of the relevant information 
collection. All comments will become a matter of public record. Please 
do not include any confidential or inappropriate material in your 
comments.
    We invite comments on: (a) Whether the collection of information is 
necessary for the proper performance of the agency's functions, 
including whether the information has 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 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 the 
requested information.

Information Collections Open for Comment

    Currently, the IRS is seeking comments concerning the following 
forms, and reporting and record-keeping requirements:
    Title: Election of $10 Million Limitation on Exempt Small Issues of

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Industrial Development Bonds; Supplemental Capital Expenditure 
Statements.
    OMB Number: 1545-0940.
    Regulation Project Number: LR-185-84.
    Abstract: This regulation liberalizes the procedure by which a 
state or local government issuer of an exempt small issue of tax-exempt 
bonds elects the $10 million limitation upon the size of such issue and 
deletes the requirement to file certain supplemental capital 
expenditure statements.
    Current Actions: There is no change to this existing regulation.
    Type of Review: Extension of a currently approved collection.
    Affected Public: State, local or tribal governments.
    Estimated Number of Respondents: 10,000.
    Estimated Time per Respondent: 6 minutes.
    Estimated Total Annual Burden Hours: 1,000.
    Title: Return of Excise Tax on Undistributed Income of Regulated 
Investment Companies.
    OMB Number: 1545-1016.
    Form Number: 8613.
    Abstract: Form 8613 is used by regulated investment companies to 
compute and pay the excise tax on undistributed income imposed under 
Internal Revenue Code section 4982. IRS uses the information to verify 
that the correct amount of tax has been reported.
    Current Actions: There are no changes being made to the form at 
this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents: 1,500.
    Estimated Time per Respondent: 11 hours, 53 minutes.
    Estimated Total Annual Burden Hours: 17,820.
    Title: Disclosure of Returns and Return Information to Designee of 
Taxpayer.
    OMB Number: 1545-1816.
    Regulation Project Number: TD 9054.
    Abstract: Under section 6103(a), returns and return information are 
confidential unless disclosure is otherwise authorized by the Code. 
Section 6103(c), as amended in 1996 by section 1207 of the Taxpayer 
Bill of Rights II, Public Law 104-168 (110 Stat. 1452), authorizes the 
IRS to disclose returns and return information to such person or 
persons as the taxpayer may designate in a request for or consent to 
disclosure, or to any other person at the taxpayer's request to the 
extent necessary to comply with a request for information or assistance 
made by the taxpayer to such other person. Disclosure is permitted 
subject to such requirements and conditions as may be prescribed by 
regulations. With the amendment in 1996, Congress eliminated the 
longstanding requirement that disclosures to designees of the taxpayer 
must be pursuant to the written request or consent of the taxpayer.
    Current Actions: There is no change to this final regulation.
    Type of Review: Extension of currently approved collection.
    Affected Public: Individuals or households, business or other not-
for-profit institutions, farms, and Federal, State, local or tribal 
governments.
    Estimated Number of Respondents: 4,000.
    Estimated Time per Respondent: 12 minutes.
    Estimated Total Annual Burden Hours: 800.
    Title: Section 1031 LKE (Like-Kind Exchanges) Auto Leasing 
Programs.
    OMB Number: 1545-1834.
    Revenue Procedure Number: Revenue Procedure 2003-39.
    Abstract: Revenue Procedure 2003-39 provides safe harbors for 
certain aspects of the qualification under Sec.  1031 of certain 
exchanges of property pursuant to LKE Programs for Federal income tax 
purposes.
    Current Actions: There are no changes being made to the revenue 
procedure at this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents: 8,600.
    Estimated Average Time per Respondent: 1 hour.
    Estimated Total Annual Burden Hours: 8,600.
    Title: Credit for Production From Advanced Nuclear Facilities.
    OMB Number: 1545-2000.
    Form Number: Notice 2006-40.
    Abstract: This notice provides the time and manner for a taxpayer 
to apply for an allocation of the national megawatt capacity limitation 
under Sec.  45J of the Internal Revenue Code. This information will be 
used to determine the portion of the national megawatt capacity 
limitation to which a taxpayer is entitled. The likely respondents are 
corporations and partnerships.
    Current Actions: There is no change in the paperwork burden 
previously approved by OMB. This form is being submitted for renewal 
purposes only.
    Type of Review: Revision of a currently approved collection.
    Affected Public: Businesses and other for-profit organizations.
    Estimated Number of Respondents: 15.
    Estimated Time per Respondent: 40 hours.
    Estimated Total Annual Burden Hours: 600.
    Title: Application for Tentative Refund.
    OMB Number: 1545-0098.
    Form Number: 1045.
    Abstract: Form 1045 is used by individuals, estates, and trusts to 
apply for a quick refund of taxes due to carry-back of a net operating 
loss, unused general business credit, or claim of right adjustment 
under Internal Revenue Code section 1341(b). The information obtained 
is used to determine the validity of the application.
    Current Actions: There are no changes being made to the form at 
this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals or households, business or other for-
profit organizations, and farms.
    Estimated Number of Respondents: 17,503.
    Estimated Time per Respondent: 29 hours, 26 minutes.
    Estimated Total Annual Burden Hours: 515,114.
    Title: Application for Approval of Prototype or Employer Sponsored 
Individual Retirement Account.
    OMB Number: 1545-0390.
    Form Number: 5306.
    Abstract: This application is used by employers who want to 
establish an individual retirement account trust to be used by their 
employees. The application is also used by banks and insurance 
companies that want to establish approved prototype individual 
retirement accounts or annuities. The data collected are used to 
determine if the individual retirement account trust or annuity 
contract meets the requirements of Code section 408(a), 408(b), or 
408(c) so that the IRS may issue an approval letter.
    Current Actions: There are no changes being made to the form at 
this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents: 600.
    Estimated Time per Respondent: 13 hours, 44 minutes.
    Estimated Total Annual Burden Hours: 8,244.
    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

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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.

    Approved: July 23, 2012.
Yvette B. Lawrence,
IRS Reports Clearance Officer.
[FR Doc. 2012-18946 Filed 8-2-12; 8:45 am]
BILLING CODE 4830-01-P