[Federal Register Volume 78, Number 15 (Wednesday, January 23, 2013)]
[Notices]
[Pages 4982-4983]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2013-01273]



[[Page 4982]]

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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

January 17, 2013.
    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 February 22, 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 may be found at www.reginfo.gov.

Internal Revenue Service (IRS)

    OMB Number: 1545-0192.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Tax on Accumulation Distribution of Trusts.
    Form: 4970.
    Abstract: Form 4970 is used by a beneficiary of a domestic or 
foreign trust to compute the tax adjustment attributable to an 
accumulation distribution. The form is used to verify whether the 
correct tax has been paid on the accumulation distribution.
    Affected Public: Individuals or Households.
    Estimated Total Burden Hours: 42,900.
    OMB Number: 1545-0935.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: U.S. Income Tax Return of a Foreign Sales Corporations; 
Schedule P, Transfer Price or Commission.
    Form: 1120-FSC; Sch. P (1120-FSC).
    Abstract: Form 1120-FSC is filed by foreign corporations that have 
elected to be FSCs or small FSCs. The FSC uses Form 1120-FSC to report 
income and expenses and to figure its tax liability. IRS uses Form 
1120-FSC and Schedule P (Form 1120-FSC) to determine whether the FSC 
has correctly reported its income and expenses and figured its tax 
liability correctly.
    Affected Public: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 1,088,250.
    OMB Number: 1545-0940.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: TD 8086--Election for $10 Million Limitation on Exempt Small 
Issues of Industrial Development Bonds; Supplemental Capital 
Expenditure Statements (LR-185-84 Final).
    Abstract: The regulation liberalizes the procedure by which the 
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.
    Affected Public: State, Local, and Tribal Governments.
    Estimated Total Burden Hours: 1,000.
    OMB Number: 1545-1016.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Return of Excise Tax on Undistributed Income of Regulated 
Investment Companies.
    Form: 8613.
    Abstract: Form 8613 is used by regulated investment companies to 
compute and pay the excise tax on undistributed income imposed under 
section 4982. IRS uses the information to verify that the correct 
amount of tax has been reported.
    Affected Public: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 17,820.
    OMB Number: 1545-1816.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: TD 9054--Disclosure of Returns and Return Information to 
Designee of Taxpayer (REG-103320-00 Final).
    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.
    Affected Public: Individuals or Households.
    Estimated Total Burden Hours: 800.
    OMB Number: 1545-1060.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Application for Withholding Certificate for Dispositions by 
Foreign Persons of U.S. Real Property Interests.
    Form: 8288-B.
    Abstract: Form 8288-B is used to apply for a withholding 
certification from IRS to reduce or eliminate the withholding required 
by section 1445.
    Affected Public: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 29,256.
    OMB Number: 1545-1190.
    Type of Review: Revision of a currently approved collection.
    Title: Like-Kind Exchanges.
    Form: 8824.
    Abstract: Form 8824 is used by individuals, partnerships, and other 
entities to report the exchange of business or investment property, and 
the deferral of gains from such transactions under section 1031. It is 
also used to report the deferral of gain under section 1043 by members 
of the executive branch of the Federal government.
    Affected Public: Individuals or Households.
    Estimated Total Burden Hours: 1,995,807.
    OMB Number: 1545-1444.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Empowerment Zone and Renewal Opportunity Employment Credit.
    Form: 8844.
    Abstract: The empowerment zone employment (EZE) credit is part of 
the general business credit under section 38. However, unlike the other 
components of the general business credit, taxpayers are allowed to 
offset 25 percent of their alternative minimum tax with the EZE credit.
    Affected Public: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 237,600.
    OMB Number: 1545-2233.
    Type of Review: Extension without change of a currently approved 
collection.

[[Page 4983]]

    Title: Notice 2012-48--Tribal Economic Development Bonds.
    Abstract: This Notice solicits applications for the reallocation of 
available amounts of national bond issuance authority limitation for 
tribal economic development bonds (``Tribal Economic Development 
Bonds'') that were previously allocated to eligible issuers by the 
Internal Revenue Service (``IRS'') and that have not been used. This 
Notice also provides related guidance on: (1) the application 
requirements and forms for requests for volume cap allocations, and (2) 
the method that the IRS and the Department of the Treasury will use to 
allocate the volume cap.
    Affected Public: State, Local, and Tribal Governments.
    Estimated Total Burden Hours: 1,001.

Dawn D. Wolfgang,
Treasury PRA Clearance Officer.
[FR Doc. 2013-01273 Filed 1-22-13; 8:45 am]
BILLING CODE 4830-01-P