[Federal Register Volume 77, Number 241 (Friday, December 14, 2012)]
[Notices]
[Pages 74549-74550]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2012-30207]


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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

December 11, 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 January 14, 2013 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 information collection request maybe found at www.reginfo.gov.

Internal Revenue Service (IRS)

    OMB Number: 1545-0129.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: U.S. Income Tax Return for Certain Political Organizations.
    Form: 1120-POL.
    Abstract: Certain political organizations file Form 1120-POL to 
report the tax imposed by section 527. The form is used to designate a 
principal business campaign committee that is subject to a lower rate 
of tax under section 527(h). IRS uses Form 1120-POL to determine if the 
proper tax was paid.
    Affected Public: Private Sector: Not-for-profit institutions.
    Estimated Total Burden Hours: 239,150.

    OMB Number: 1545-0175.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Alternative Minimum Tax-Corporations.
    Form: 4626.
    Abstract: Section 55 of the Internal Revenue Code imposes an 
alternative minimum tax. The tax is 20 percent of the amount by which a 
corporation's taxable income adjusted by the items listed in sections 
56 and 58, and by the tax preference items listed in Section 57, exceed 
an exemption amount. This result is reduced by the alternative minimum 
tax foreign tax credit. If this result is more than the corporation's 
regular tax liability before all credits (except the foreign tax and 
possessions tax credits), the difference is added to the tax liability. 
Form 4626 provides a line-by-line computation of the alternative 
minimum tax.
    Affected Public: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 2,611,200.

    OMB Number: 1545-0228.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Installment Sale Income.
    Form: 6252.
    Abstract: Information is needed to figure and report an installment 
sale for a casual or incidental sale of personal property, and a sale 
of real property by someone not in the business of selling real estate. 
Data is used to determine whether the installment sale has been 
properly reported and the correct amount of profit is included in 
income on the taxpayer's return.
    Affected Public: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 1,597,008.

    OMB Number: 1545-0712.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Risk Limitations.
    Form: 6198.
    Abstract: IRC section 465 requires taxpayers to limit their at-risk 
loss to the lesser of the loss or their amount at risk. Form 6198 is 
used by taxpayers to determine their deductible loss and by IRS to 
verify the amount deducted.
    Affected Public: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 914,419.

    OMB Number: 1545-0945.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: TD 7852--Registration Requirements with Respect to Debt 
Obligations (NPRM, LR-255-82).
    Abstract: The rule requires an issuer of a registration-required 
obligation and any person holding the obligation as a nominee or 
custodian on behalf of another to maintain ownership records in a 
manner which will permit examination by the IRS in connection with 
enforcement of the Internal Revenue laws.
    Affected Public: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 50,000.

    OMB Number: 1545-0950.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Application for Enrollment to Practice Before the Internal 
Revenue Service.
    Form: 23, 23-EP.
    Abstract: Form 23 must be completed by those who desire to be 
enrolled to practice before the Internal Revenue Service. The 
information on the form will be used by the Director of Practice to 
determine the qualifications and eligibility of applicants for 
enrollment. Form 23-EP is the application form for Enrolled Retirement 
Plan Agents.
    Affected Public: Individuals or households.
    Estimated Total Burden Hours: 1,200.

    OMB Number: 1545-1020.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Allocation of Estimated Tax Payments to Beneficiaries.
    Form: 1041-T.
    Abstract: This form was developed to allow a trustee of a trust or 
an executor

[[Page 74550]]

of an estate to make an election under IRC section 643(g) to allocate 
any payment of estimated tax to a beneficiary(ies). This form serves as 
a transmittal so that Service Center personnel can determine the 
correct amounts that are to be transferred from the fiduciary's account 
to the individual's account.
    Affected Public: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 900.

    OMB Number: 1545-1021.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Asset Acquisition Statement.
    Form: 8594.
    Abstract: Form 8594 is used by the buyer and seller of assets to 
which goodwill or going concern value can attach to report the 
allocation of the purchase price among the transferred assets.
    Affected Public: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 219,462.

    OMB Number: 1545-1538.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Notice 97-34, Information Reporting on Transactions With 
Foreign Trusts and on Large Foreign Gifts.
    Abstract: This notice provides guidance on the foreign trust and 
foreign gift information reporting provisions contained in the Small 
Business Job Protection Act of 1996.
    Affected Public: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 3,750.

    OMB Number: 1545-1818.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Rev. Proc. 2003-38, Commercial Revitalization Deduction.
    Abstract: Pursuant to Sec. 1400I of the Internal Revenue Code, this 
procedure provides the time and manner for states to make allocations 
of commercial revitalization expenditures to a new or substantially 
rehabilitated building that is placed in service in a renewal 
community.
    Affected Public: State, Local, and Tribal Governments.
    Estimated Total Burden Hours: 200.

    OMB Number: 1545-1844.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Agreement to Mediate.
    Form: 13369.
    Abstract: Fast Track Mediation is a dispute resolution process 
designed to expedite case resolution. In order to avail themselves of 
this process, taxpayers and Compliance must complete the Agreement to 
Mediate once an examination or collection determination is made. Once 
signed by both parties, the Agreement to Mediate will be forwarded to 
Appeals to schedule a mediation session.
    Affected Public: Individuals or households.
    Estimated Total Burden Hours: 15.

Dawn D. Wolfgang,
Treasury PRA Clearance Officer.
[FR Doc. 2012-30207 Filed 12-13-12; 8:45 am]
BILLING CODE 4830-01-P