[Federal Register Volume 78, Number 21 (Thursday, January 31, 2013)]
[Notices]
[Pages 6846-6847]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2013-02041]


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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 an 
existing final regulation, REG-251698-96 (TD 8869), Subchapter S 
Subsidiaries (Sec. Sec.  1.1361-3, 1.1361-5, and 1.1362-8); Revenue 
Procedure 2001-29, Leveraged Leases; Form 13362, Consent to Disclosure 
of Return Information; Form 8453-C, U.S. Corporation Income Tax 
Declaration for an IRS e-file Return and Form 8453-I, Foreign 
Corporation Income Tax Declaration for an IRS e-file Return; and REG-
125638-01 (TD 9107-Final), Guidance Regarding Deduction and 
Capitalization of Expenditures.

DATES: Written comments should be received on or before April 1, 2013 
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: Subchapter S Subsidiaries (Sec. Sec.  1.1361-3, 1.1361-
5, and 1.1362-8).
    OMB Number: 1545-1590.
    Form Number: TD 8869.
    Abstract: This regulation relates to the treatment of corporate 
subsidiaries of S corporations and interprets the rules added to the 
Internal Revenue Code by section 1308 of the Small Business Job 
Protection Act of 1996. The collection of information required in the 
regulation is necessary for a taxpayer to obtain, retain, or terminate 
S corporation treatment.
    Current Actions: There are no changes to the previously approved 
burden of this existing collection.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Businesses or other for-profit organizations, 
individuals, and farms.
    Estimated Number of Respondents: 10,660.
    Estimated Time per Respondent: 57 min.
    Estimated Total Annual Burden Hours: 10,110.
    (2) Title: Leveraged Leases.
    OMB Number: 1545-1738.
    Form Number: Rev Proc 2001-29.
    Abstract: Revenue Procedure 2001-29 sets forth the information and 
representations required to be furnished by taxpayers in requests for 
an advance ruling that a leveraged lease transaction is, in fact, a 
valid lease 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: Individuals or households, business or other for-
profit organizations, and not-for-profit institutions.
    Estimated Number of Respondents: 10.
    Estimated Time per Respondent: 80 hr.

[[Page 6847]]

    Estimated Total Annual Reporting Burden Hours: 800.
    (3) Title: Consent to Disclosure of Return Information.
    OMB Number: 1545-1856.
    Form Number: 13362.
    Abstract: The Consent Form is provided to external applicant that 
will allow the Service the ability to conduct tax checks to determine 
if an applicant is suitable for employment once they are determined 
qualified and within reach to receive an employment offer.
    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: Federal Government.
    Estimated Number of Respondents: 46,000.
    Estimated Time per Respondent: 10 mins.
    Estimated Total Annual Burden Hours: 7,664.
    (4) Title: U.S. Corporation Income Tax Declaration for an IRS e-
file Return and Foreign Corporation Income Tax Declaration for an IRS 
e-file Return.
    OMB Number: 1545-1866.
    Form Number: 8453-C and 8453-I.
    Abstract: Form 8453-C is necessary to enable the electronic filing 
of Form 1120, U.S. Corporation Income Tax Return. The form is created 
to meet the stated Congressional policy that paperless filing is the 
preferred and most convenient means of filing Federal tax and 
information returns. Form 8453-I is used to enable the electronic 
filing of Form 1120-F.
    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: 4,000.
    Estimated Time per Respondent: 7 hrs., 13 min.
    Estimated Total Annual Burden Hours: 28,880.
    (5) Title: Guidance Regarding Deduction and Capitalization of 
Expenditures.
    OMB Number: 1545-1870.
    Form Number: REG-125638-01 (TD 9107-Final).
    Abstract: The information required to be retained by taxpayers will 
constitute sufficient documentation for purposes of substantiating a 
deduction. The information will be used by the agency on audit to 
determine the taxpayer's entitlement to a deduction. The respondents 
include taxpayers who engage in certain transactions involving the 
acquisition of a trade or business or an ownership interest in a legal 
entity.
    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: 1 hr.
    Estimated Total Annual Burden Hours: 3,000.
    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: January 23, 2013.
R. Joseph Durbala,
IRS Reports Clearance Officer.
[FR Doc. 2013-02041 Filed 1-30-13; 8:45 am]
BILLING CODE 4830-01-P