[Federal Register Volume 77, Number 169 (Thursday, August 30, 2012)]
[Notices]
[Pages 52785-52789]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2012-21402]


=======================================================================
-----------------------------------------------------------------------

DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

August 27, 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 October 1, 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 email 
at [email protected].

FOR FURTHER INFORMATION CONTACT: Copies of the submission(s) may be 
obtained by calling (202) 927-5331, email at [email protected], or the 
entire

[[Page 52786]]

information collection request maybe found at www.reginfo.gov.

Internal Revenue Service (IRS)

    OMB Number: 1545-0169.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Form 4461, Application for Approval of Master or Prototype 
Defined Contribution Plan; Form 4461-A, Application for Approval of 
Master or Prototype Defined Benefit Plan; Form 4461-B, Application for 
Approval of Master or Prototype or Volume Submitter Plans.
    Form: Forms 4461, 4461-A, 4461-B.
    Abstract: The IRS uses these forms to determine from the 
information submitted whether the applicant plan qualifies under 
section 401(a) of the Internal Revenue Code for plan approval. The 
application is also used to determine if the related trust qualifies 
for tax exempt status under Code section 501(a).
    Affected Public: Private Sector: Business or other for-profits.
    Estimated Total Burden Hours: 65,765.
    OMB Number: 1545-0202.
    Type of Review: Revision of a currently approved collection.
    Title: Form 5310, Application for Determination for Terminating 
Plan; Form 6088, Distributable Benefits from Employee Pension Benefit 
Plans.
    Form: 5310, 6088.
    Abstract: Employers who have qualified deferred compensation plans 
can take an income tax deduction for contributions to their plans. IRS 
uses the data on Forms 5310 and 6088 to determine whether a plan still 
qualifies and whether there is any discrimination in benefits.
    Affected Public: Private Sector: Business or other for-profits.
    Estimated Total Burden Hours: 1,718,300.
    OMB Number: 1545-0770.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: FI-182-78 (NPRM)--Transfers of Securities Under Certain 
Agreements.
    Abstract: Section 1058 of the Internal Revenue Code provides tax-
free treatment for transfers of securities pursuant to a securities 
lending agreement. The agreement must be in writing and is used by the 
taxpayer, in a tax audit situation, to justify no recognition treatment 
of gain or loss on the exchange of the securities.
    Affected Public: Private Sector: Business or other for-profits.
    Estimated Total Burden Hours: 9,781.
    OMB Number: 1545-0919.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Limitations on Percentage Depletion in the Case of Oil and 
Gas Wells (PS-105-75) Final.
    Abstract: The regulations require each partner to separately keep 
records of his share of the adjusted basis of partnership oil and gas 
property and require each partnership, trusts, estate, and operator to 
provide information necessary to certain persons to compute depletion 
with respect to oil and gas.
    Affected Public: Private Sector: Business or other for-profits.
    Estimated Total Burden Hours: 1.
    OMB Number: 1545-1049.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: IA-7-88, (T.D. 8379) Excise Tax Relating to Gain or Other 
Income Realized by Any Person on Receipt of Greenmail.
    Abstract: The final regulations provide rules relating to the 
manner and method of reporting and paying the nondeductible 50 percent 
tax imposed by section 5881 of the Internal Revenue Code with respect 
to the receipt of greenmail.
    Affected Public: Private Sector: Business or other for-profits.
    Estimated Total Burden Hours: 2.
    OMB Number: 1545-1233.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Adjusted Current Earnings (IA-14-91)(Final).
    Abstract: This regulation affects business and other for profit 
institutions. This information is required by the IRS to ensure the 
proper application of section 1.56(g)-1 of the regulation. It will be 
used to verify that taxpayers have properly elected the benefits of 
section 1.56(g)-1(r) of the regulation.
    Affected Public: Private Sector: Business or other for-profits.
    Estimated Total Burden Hours: 1,000.
    OMB Number: 1545-1347.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: FI-7-94 and FI-36-92 (Final) Arbitrage Restrictions on Tax-
Exempt Bonds.
    Abstract: The Code limits the ability of state and local government 
issuers of tax-exempt bonds to earn and/or keep arbitrage profits 
earned with bond proceeds. This regulation requires recordkeeping of 
certain interest rate hedges so that the hedges are taken into account 
in determining those profits.
    Affected Public: State, Local and Tribal Governments.
    Estimated Total Burden Hours: 42,050.
    OMB Number: 1545-1480.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: REG-107047-00 (TD 8985--Final), Hedging Transactions.
    Abstract: The information is required by the IRS to aid it in 
administering the law and to prevent manipulation. The information will 
be used to verify that a taxpayer is properly reporting its business 
hedging transactions.
    Affected Public: Private Sector: Business or other for-profits.
    Estimated Total Burden Hours: 171,050.
    OMB Number: 1545-1504.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Application for Taxpayer Assistance Order (ATAO).
    Abstract: This form is used by taxpayers to apply for relief from a 
significant hardship which may have already occurred or is about to 
occur if the IRS takes or fails to take certain actions. This form is 
submitted to the IRS Taxpayer Advocate Office in the state or city 
where the taxpayer lives.
    Affected Public: Individuals or Households.
    Estimated Total Burden Hours: 46,500.
    OMB Number: 1545-1510.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Revenue Procedure 2004-53; Procedure for filing Forms W-2 is 
certain Acquisitions (Rev Proc. 96-60).
    Abstract: Information is required by the Internal Revenue Service 
to assist predecessor and successor employers in complying with the 
reporting requirements under Code sections 6051 and 6011 for Forms W-2 
and 941.
    Affected Public: Private Sector: Business or other for-profits.
    Estimated Total Burden Hours: 110,700.
    OMB Number: 1545-1531.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Notice 97-19 and Notice 98-34 Guidance for Expatriates Under 
Sections 877, 2501, 2107, and 6039F.
    Abstract: Notice 97-19 and Notice 98-34 provide guidance for 
individuals affected by amendments to Code sections 877, 2107, and 
2501, as amended by the Health Insurance Portability and Accountability 
Act. These notices also provide guidance on Code section 6039F.
    Affected Public: Individuals or Households.

[[Page 52787]]

    Estimated Total Burden Hours: 6,525.
    OMB Number: 1545-1533.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Revenue Procedure 97-22-26 CFR 601.105 Examination of 
returns and claims for refund, credits, or abatement, determination of 
correct tax liability.
    Abstract: The information requested in Revenue Procedure 97-22 
under sections 4 and 5 is required to ensure that records maintained in 
an electronic storage system will constitute records within the meaning 
of section 6001.
    Affected Public: Private Sector: Business or other for-profits.
    Estimated Total Burden Hours: 1,000,400.
    OMB Number: 1545-1540.
    Type of Review: Extension without change of currently approved 
collection.
    Title: REG-125071-06 (TD 9308)--Reporting Requirements for Widely 
Held Fixed Investment Trusts (TD 9308), previously (TD 9279)
    Abstract: The regulations clarify the reporting requirements of 
trustees and middlemen involved with widely held fixed investment 
trusts.
    Affected Public: Private Sector: Business or other for-profits.
    Estimated Total Burden Hours: 2,400.
    OMB Number: 1545-1617.
    Type of Review: Extension without change of currently approved 
collection.
    Title: REG-124069-02 (Final) Section 6038--Returns Required with 
Respect to Controlled Foreign Partnerships; REG-118966-97 (Final) 
Information Reporting with Respect to Certain Foreign Partnership.
    Abstract: REG-124069-02 Treasury Regulation Sec. 1.6038-3 requires 
certain United States persons who own interests in controlled foreign 
partnership to annually report information to the IRS on Form 8865. 
This regulation amends the reporting rules under Treasury Regulation 
section 1.6038-e to provide that a U.S. person must follow the filing 
requirements that are specified in the instructions for Form 8865 when 
the U.S. person must file Form 8865 and the foreign partnership 
completes and files Form 1065 or Form 1065-B. REG-118966-97 Section 
6038 requires certain U.S. persons who own interest in controlled 
foreign partnerships.
    Affected Public: Private Sector: Business or other for-profits.
    Estimated Total Burden Hours: 500.
    OMB Number: 1545-1667.
    Type of Review: Extension without change of currently approved 
collection.
    Title: Revenue Procedure 99-50 Combined Information Reporting.
    Abstract: The revenue procedure permits combined information 
reporting by a successor ``business entity'' (i.e., a corporation, 
partnership, or sole proprietorship) in certain situations following a 
merger or an acquisition. The successor must file a statement with the 
Internal Revenue Service indicating what forms are being filed on a 
combined basis.
    Affected Public: Private Sector: Business or other for-profits.
    Estimated Total Burden Hours: 500.
    OMB Number: 1545-1676.
    Type of Review: Extension without change of currently approved 
collection.
    Title: REG-113572-99 (TD 8933) Qualified Transportation Fringe 
Benefits.
    Abstract: These regulations provide guidance to employers that 
provide qualified transportation fringe benefits under section 132(f), 
including guidance to employers that provide cash reimbursement for 
qualified transportation fringes and employers that offer qualified 
transportation fringes in lieu of compensation. Employers that provide 
cash reimbursement are required to keep records of documentation 
received from employees who receive reimbursement. Employers that offer 
qualified transportation fringes in lieu of compensation are required 
to keep records of employee compensation reduction elections.
    Affected Public: Private Sector: Business or other for-profits.
    Estimated Total Burden Hours: 12,968,728.
    OMB Number: 1545-1678.
    Type of Review: Extension without change of currently approved 
collection.
    Title: REG-161424-01 (Final), Information Reporting for Qualified 
Tuition and Related Expenses; Magnetic Media Filing Requirements for 
Information Returns; REC-105316-98 (Final) Information.
    Abstract: These regulations relate to the information reporting 
requirements in section 6050S of the Internal Revenue Code for payments 
of qualified tuition and related expenses and interest on qualified 
education loans. These regulations provide guidance to eligible 
education institutions, insurers, and payees required to file 
information returns and to furnish information statements under section 
6050S.
    Affected Public: Private Sector: Not-for-profit institutions.
    Estimated Total Burden Hours: 1.
    OMB Number: 1545-1684.
    Type of Review: Extension without change of currently approved 
collection.
    Title: Revenue Procedure 2009-14, Prefiling Agreements Program 
(Superseded 2007-17).
    Abstract: Revenue Procedure 2009-14 permits a taxpayer under the 
jurisdiction of the Large and Mid-Size Business Division to request 
that the Service examines specific issues relating to tax returns 
before those returns are filed. This revenue procedure provides the 
framework within which a taxpayer and the Service may work together in 
a cooperative environment to resolve, after examination, issues 
accepted into the program.
    Affected Public: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 13,134.
    OMB Number: 1545-1810.
    Type of Review: Extension without change of currently approved 
collection.
    Title: Credit for Small Employer Pension Plan Startup Costs.
    Form: 8881.
    Abstract: Qualified small employers use Form 8881 to request a 
credit for start-up costs related to eligible retirement plans. Form 
8881 implements section 45E, which provides a credit based on costs 
incurred by an employer in establishing or administering an eligible 
employer plan or for the retirement related education of employees with 
respect to the plan. The credit is 50% of the qualified costs for the 
tax year, up to a maximum credit of $500 for the first tax year and 
each of the two subsequent tax years.
    Affected Public: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 235,335.
    OMB Number: 1545-1815.
    Type of Review: Extension without change of currently approved 
collection.
    Title: Coverdell ESA Contribution Information.
    Form: 5498-ESA.
    Abstract: Form 5498-ESA is used by trustees and issuers of 
Coverdell Education Savings accounts to report contributions made to 
these accounts to beneficiaries.
    Affected Public: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 18,000.
    OMB Number: 1545-1824.
    Type of Review: Extension without change of currently approved 
collection.
    Title: REG-139768-02 (Final) Excise Tax Relating to Structured 
Settlement Factoring Transactions.
    Abstract: The regulations provide rules relating to the manner and 
method of reporting and paying the 40 percent excise tax imposed by 
section 5891 of the Internal Revenue Code with respect to acquiring of 
structured payment rights in a structured settlement factoring 
transaction.
    Affected Public: Private Sector: Businesses or other for-profits.

[[Page 52788]]

    Estimated Total Burden Hours: 2.
    OMB Number: 1545-1843.
    Type of Review: Extension without change of currently approved 
collection.
    Title: TD 9207 (final)--Assumptions of Partner Liabilities; REG-
106736-00 (NPRM).
    Abstract: In order to be entitled to a deduction with respect to 
the economic performance of a contingent liability that was contributed 
by a partner and assumed by a partnership, the partner, or former 
partner of the partnership, must receive notification of economic 
performance of the contingent liability from the partnership or other 
partner assuming the liability.
    Affected Public: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 125.
    OMB Number: 1545-1968.
    Type of Review: Extension without change of currently approved 
collection.
    Title: Alternative Tax on Qualifying Shipping Activities.
    Form: 8902.
    Abstract: Form 8902 is used to elect the alternative tax on 
notional income from qualifying shipping activities and to figure the 
alternative tax.
    Affected Public: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 3,056.
    OMB Number: 1545-1980.
    Type of Review: Extension without change of currently approved 
collection.
    Title: Notice 2007-70--Charitable Contributions of Certain Motor 
Vehicles, Boats, and Airplanes (Reporting requirements under Sec. 
170(f)(12)(D)).
    Abstract: Charitable organizations are required to send an 
acknowledgement of car donations to the donor and to the Service. The 
purpose of is to prevent donors from taking inappropriate deductions.
    Affected Public: Private Sector: Not-for-profit institutions.
    Estimated Total Burden Hours: 21,930.
    OMB Number: 1545-1982.
    Type of Review: Extension without change of currently approved 
collection.
    Title: Distilled Spirits Credit.
    Form: 8906.
    Abstract: Form 8906, Distilled Spirits Credit, was developed to 
carry out the provisions of IRC section 5011(a). This section allows 
eligible wholesalers and persons subject to IRC section 5055 an income 
tax credit for the average cost of carrying excise tax on bottled 
distilled spirits. The form provides a means for the eligible taxpayer 
to compute the amount of credit.
    Affected Public: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 558.
    OMB Number: 1545-1994.
    Type of Review: Extension without change of currently approved 
collection.
    Title: Notice 2008-36: Amplification of Notice 2006-28 Energy 
Efficient Homes Credit; Manufactured Homes.
    Abstract: This notice supersedes Notice 2006-28 by substantially 
republishing the guidance contained in that publication. This notice 
clarifies the meaning of the terms equivalent rating network and 
eligible contractor, and permits calculation procedures other than 
those identified in Notice 2006-28 to be used to calculate energy 
consumption. Finally, this notice clarifies the process for removing 
software from the list of approved software and reflects the extension 
of the tax credit through December 31, 2008. Notice 2006-28, as 
updated, provided guidance regarding the calculation of heating and 
cooling energy consumption for purposes of determining the eligibility 
of a manufactured home for the New Energy Efficient Home Credit under 
Internal Revenue Code Sec.  45L. Notice 2006-28 also provided guidance 
relating to the public list of software programs that may be used to 
calculate energy consumption. Guidance relating to dwelling units other 
than manufactured homes is provided in Notice 2008-35.
    Affected Public: Individuals and Households.
    Estimated Total Burden Hours: 60.
    OMB Number: 1545-2071.
    Type of Review: Extension without change of currently approved 
collection.
    Title: TE/GE Compliance Check Questionnaires.
    Abstract: Compliance questionnaires are an invaluable tool for 
obtaining supplemental information to determine the compliance of 
specific entities without the burden for the taxpayer or the cost to 
the IRS of a traditional, full-scale audit. The information collected 
will be used to improve the quality of data available for monitoring 
compliance, to correct identified instances of non-compliance and to 
determine where additional guidance, education or enforcement resources 
are most needed to prevent future non-compliance.
    Affected Public: Private Sector: Not-for-profit institutions.
    Estimated Total Burden Hours: 37,500.
    OMB Number: 1545-2109.
    Type of Review: Extension without change of currently approved 
collection.
    Title: Notice of Election of an Agreement to Special Lien Under 
Internal Revenue Code Section 6324A and Regulations.
    Form: 13925.
    Abstract: TD 7941: Internal Revenue Code section 6324A permits the 
executor of a decedent's estate to elect a lien on section 6166 
property in favor of the United States in lieu of a bond or personal 
liability if an election under section 6166 was made and the executor 
files an agreement under section 6324A(c). This regulation clarifies 
the procedures for complying with the statutory requirements. Form 
13925: Under IRC section 6166, an estate may elect to pay the estate 
tax in installments over 14 years if certain conditions are met. If the 
IRS determines that the government's interest in collecting estate tax 
is sufficiently at risk, it may require the estate provide a bond. 
Alternatively, the executor may elect to provide a lien in lieu of 
bond. Under section 6324A(c) and the regulations there under (OMB 1545-
0757), to make this election the executor must submit a lien agreement 
to the IRS. Form 13925 is a form lien agreement that executors may use 
for this purpose.
    Affected Public: Individuals or Households.
    Estimated Total Burden Hours: 510.
    OMB Number: 1545-2119.
    Type of Review: Extension without change of currently approved 
collection.
    Title: Notice 2008-79, Tax-exempt Housing Bonds and 2008 Housing 
Legislation.
    Abstract: This notice provides guidance regarding certain 
provisions affecting tax-exempt bonds and related matters under the 
Housing Assistance Tax Act of 2008, Division C of Public Law 110-289, 
enacted on July 30, 2008 (``2008 Housing Act''). Section 3021 of the 
2008 Housing Act amends Sec. Sec.  143 and 146 of the Internal Revenue 
Code (``Code'') to provide a temporary $11 billion increase in the 
annual private activity bond volume cap under Sec.  146 for qualified 
housing issues and to allow the use of qualified mortgage bonds to 
refinance certain subprime mortgage loans. (Except as otherwise 
provided, section references in this notice are to the Code.) This 
notice provides guidance on allocations, carryforwards, information 
reporting, and uses of this additional bond volume cap, and guidance on 
the use of qualified mortgage revenue bonds to refinance certain 
subprime mortgage loans. In addition, Sec.  3005 of the 2008 Housing 
Act amends Sec.  142(d)(2)of the Code to disregard basic housing 
allowance payments to military members at certain military bases for 
purposes of applicable low-income set-aside income limitations under 
Sec.  42 and Sec.  142. This notice lists certain affected military 
bases. Section 3023 of the 2008 Housing Act provides

[[Page 52789]]

temporary authority to Federal Home Loan Banks to guarantee certain 
tax-exempt bonds. This notice provides guidance on tax-exempt bonds 
eligible for such guarantees.
    Affected Public: State, Local, and Tribal Governments.
    Estimated Total Burden Hours: 300.
    OMB Number: 1545-2131.
    Type of Review: Extension without change of currently approved 
collection.
    Title: Application for Extension of Time for Payment of Tax.
    Form: 1127, 1127-A.
    Abstract: Under IRC 6161, individual taxpayers and business 
taxpayers are allowed to request an extension of time for payment of 
tax shown or required to be shown on a return or for a tax due on a 
notice of deficiency. In order to be granted this extension, they must 
file Form 1127, providing evidence of undue hardship, inability to 
borrow, and collateral to ensure payment of the tax. Under IRC 6161 and 
the Service's Fresh Start initiative, individual taxpayers are allowed 
to request an extension of time for payment of tax shown or required to 
be shown on a return for 2011. In order to be granted this extension, 
they must file Form 1127-A, self-certifying hardship due to the current 
economic downturn.
    Affected Public: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 8,680.
    OMB Number: 1545-2132.
    Type of Review: Extension without change of currently approved 
collection.
    Title: Carbon Dioxide Sequestration Credit.
    Form: 8933.
    Abstract: Form 8933 will provide a standardized format to claim 
this credit to an eligible person that captures, after October 3, 2008, 
qualified carbon dioxide at a qualified facility and physically or 
contractually ensures the disposal of or the use as a tertiary 
injectant of the qualified carbon dioxide.
    Affected Public: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 215.

Robert Dahl,
Treasury PRA Clearance Officer.
[FR Doc. 2012-21402 Filed 8-29-12; 8:45 am]
BILLING CODE 4830-01-P