[Federal Register Volume 77, Number 200 (Tuesday, October 16, 2012)]
[Notices]
[Pages 63423-63424]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2012-25306]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Information Collection 
Tools

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)). Currently, the IRS is soliciting comments concerning 
the Authorized Cyber Assistant Host Application form; Form 11-C, 
Occupational Tax and Register Return for Wagering; Form 8816, Special 
Loss Discount Account and Special Estimated Tax Payments for Insurance 
Companies; IA-54-90 (TD 8459), Settlement Funds (Sec. Sec.  1.468B-1, 
1.468B-2, 1.468B-3, and 1.468B-5); and Revenue Procedure 97-48, 
Automatic Relief for Late S Corporation Elections.

DATES: Written comments should be received on or before December 17, 
2012 to be assured of consideration.

ADDRESSES: Direct all written comments to Yvette 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: Requests for additional information or 
copies of the collection tools should be directed to R. Joseph Durbala, 
Internal Revenue Service, room 6129, 1111 Constitution Avenue NW., 
Washington, DC 20224, or at (202)622-3634, or through the internet at 
[email protected].

SUPPLEMENTARY INFORMATION: Currently, the IRS is seeking comments 
concerning the following information collection tools, reporting, and 
record-keeping requirements:
    (1) Title: Authorized Cyber Assistant Host Application.
    OMB Number: 1545-2170.
    Form Number: N/A.
    Abstract: The IRS web-based software program, referred to as Cyber 
Assistant, will guide applicants for tax-exempt status through the 
preparation of Form 1023, Application for Recognition of Exemption 
under Section 501(c)(3). The program, similar to tax preparation 
software, ensures that an application is complete before allowing the 
applicant to print out a PDF version of the completed Form 1023 for 
submission to the IRS. As the Forms 1023 completed using Cyber 
Assistant will not be electronically transmitted to the IRS, bar codes 
included on applications completed via Cyber Assistant will allow the 
IRS to scan the complete Form 1023 upon receipt from the applicant, 
making all of the data available electronically instead of the limited 
number of items that are currently transcribed from standard paper 
applications..
    Type of Review: Extension of currently approved collection.
    Affected Public: Business or other for-profit organizations and 
other not-for-profit institutions.
    Estimated Number of Respondents: 100.
    Estimated Time per Respondent: 2 hr.
    Estimated Total Annual Burden Hours: 200.
    (2) Title: Occupational Tax Wagering.
    OMB Number: 1545-0236.
    Form Number: 11-C.
    Abstract: Form 11-C is used to register persons accepting wagers, 
as required by Internal Revenue Code section 4412. The IRS uses this 
form to register the respondent, collect the annual stamp tax imposed 
by Code section 4411 and to verify that the tax on wagers is reported 
on Form 730, Tax on Wagering.

[[Page 63424]]

    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 and 
individuals.
    Estimated Number of Respondents: 23,000.
    Estimated Time per Respondent: 5 hrs., 21 min.
    Estimated Total Annual Reporting Burden Hours: 126,175.
    (3) Title: Special Loss Discount Account and Special Estimated Tax 
Payments for Insurance Companies.
    OMB Number: 1545-1130.
    Form Number: 8816.
    Abstract: Form 8816 is used by insurance companies claiming an 
additional deduction under Internal Revenue Code section 847 to 
reconcile estimated tax payments and to determine their tax benefit 
associated with the deduction. The information is needed by the IRS to 
determine that the proper additional deduction was claimed and to 
insure the proper amount of special estimated tax was computed and 
deposited.
    Current Actions: There is no change in the paperwork burden 
previously approved by OMB.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents: 3,000.
    Estimated Time Per Respondent: 6 hrs, 37 min.
    Estimated Total Annual Burden Hours: 19,830.
    (4) Title: Settlement Funds.
    OMB Number: 1545-1299.
    Form Number: IA-54-90.
    Abstract: This regulation prescribes reporting requirements for 
settlement funds, which are funds established or approved by a 
governmental authority to resolve or satisfy certain liabilities, such 
as those involving tort or breach of contract. The regulation relates 
to the tax treatment of transfers to these funds, the taxation of 
income earned by the funds, and the tax treatment of distributions made 
by the funds.
    Current Actions: There is no change in the paperwork burden 
previously approved by OMB.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals, business or other for-profit 
organizations, not for-profit institutions, farms and Federal, state, 
local or tribal governments.
    Estimated Number of Respondents: 1,500.
    Estimated Time Per Respondent: 2 hrs., 22 min.
    Estimated Total Annual Burden Hours: 3,542.
    (5) Title: Automatic Relief for Late S Corporation Elections.
    OMB Number: 1545-1562.
    Form Number: Revenue Procedure 97-48.
    Abstract: The Small Business Job Protection Act of 1996 provides 
the IRS with the authority to grant relief for late S corporation 
elections. This revenue procedure provides that, in certain situations, 
taxpayers whose S corporation election was filed late can obtain relief 
by filing Form 2553 and attaching a statement explaining that the 
requirements of the revenue procedure have been met.
    Current Actions: There is no change in the paperwork burden 
previously approved by OMB.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other-for-profit organizations.
    Estimated Number of Respondents: 100.
    Estimated Time Per Respondent: 1 hrs.
    Estimated Total Annual Burden Hours: 100.
    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 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.
    Request for Comments: Comments submitted in response to this notice 
will be summarized and/or included in the request for OMB approval. All 
comments will become a matter of public record. Comments are invited 
on: (a) Whether the collection of information is necessary for the 
proper performance of the functions of the agency, including whether 
the information shall have 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 through 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 information.

    Approved: October 10, 2012.
R. Joseph Durbala,
IRS Reports Clearance Officer.
[FR Doc. 2012-25306 Filed 10-15-12; 8:45 am]
BILLING CODE 4830-01-P