[Federal Register Volume 78, Number 80 (Thursday, April 25, 2013)]
[Notices]
[Pages 24466-24468]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2013-09774]


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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

April 22, 2013.
    The Department of the Treasury will submit the following 
information collection requests 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 May 28, 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

[[Page 24467]]

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

Internal Revenue Service (IRS)

    OMB Number: 1545-0142.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Underpayment of Estimated Tax by Corporations.
    Form: 2220.
    Abstract: Form 2220 is used by corporations to determine whether 
they are subject to the penalty for underpayment of estimated tax and 
if so, the amount of the penalty. The IRS uses Form 2220 to determine 
if the penalty was correctly computed.
    Affected Public: Private Sector: Businesses or other for-profits.
    Estimated Annual Burden Hours: 24,206,448.

    OMB Number: 1545-0155.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Investment Credit.
    Form: 3468.
    Abstract: Taxpayers are allowed a credit against their income tax 
for certain expenses they incur for their trades or businesses. Form 
3468 is used to compute this investment tax credit. The information 
collect is used by the IRS to verify that the credit has been correctly 
computed.
    Affected Public: Private Sector: Businesses or other for-profits.
    Estimated Annual Burden Hours: 530,937.

    OMB Number: 1545-0790.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Notice of Inconsistent Treatment or Administrative 
Adjustment Request (AAR).
    Form: 8082.
    Abstract: IRC sections 6222 and 6227 require partners to notify IRS 
by filing Form 8082 when they (1) treat partnership items inconsistent 
with the partnerships' treatment (6222), and (2) change previously 
reported partnership items (6227). Sections 6244 and 860F extend this 
requirement to shareholders of S corporations and residuals of REMICs. 
Also section 6241 and 6034A(c) extend this requirement to partners in 
electing large partnerships and beneficiaries of estates and trusts.
    Affected Public: Private Sector: Businesses or other for-profits.
    Estimated Annual Burden Hours: 51,024.

    OMB Number: 1545-1034.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Passive Activity Credit Limitations.
    Form: 8582-CR.
    Abstract: Under section 469, credits from passive activities, to 
the extent they do not exceed the tax attributable to net passive 
income, are not allowed. Form 8582-CR is used to figure the passive 
activity credit allowed and the amount of credit to be reported on the 
tax return.
    Affected Public: Individuals and Households.
    Estimated Annual Burden Hours: 2,370,600.

    OMB Number: 1545-1145.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Generation-Skipping Transfer Tax Return for Terminations.
    Form: 706-GS(T).
    Abstract: Form 706-GS(T) is used by trustees to compute and report 
the Federal GST tax imposed by IRC section 2601. IRS uses the 
information to enforce this tax and to verify that the tax has been 
properly computed.
    Affected Public: Individuals and Households.
    Estimated Annual Burden Hours: 684.

    OMB Number: 1545-1447.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: CO-46-94 (TD 8594--Final) Losses on Small Business Stock.
    Abstract: Section 1.1244(e)-1(b) of the regulation requires that a 
taxpayer claiming an ordinary loss with respect to section 1244 stock 
must have records sufficient to establish that the taxpayer satisfies 
the requirements of section 1244 and is entitled to the loss. The 
records are necessary to enable the Service examiner to verify that the 
stock qualifies as section 1244 stock and to determine whether the 
taxpayer is entitled to the loss.
    Affected Public: Private Sector: Businesses or other for-profits.
    Estimated Annual Burden Hours: 2,000.

    OMB Number: 1545-1550.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Notice 97-45, Highly Compensated Employee Definition.
    Abstract: This notice provides guidance on the definition of a 
highly compensated employee within the meaning of section 414(q) of the 
Internal Revenue Code as simplified by section 1431 of the Small 
Business Job Protection Act of 1996, including an employer's option to 
make a top-paid group election under section 414(q)(1)(B)(ii).
    Affected Public: Private Sector: Businesses or other for-profits.
    Estimated Annual Burden Hours: 65,605.

    OMB Number: 1545-1558.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Rev. Proc. 97-43, Procedures for Electing Out of Exemptions 
under Section 1.475(c)-1; and Rev. Ruling 97-39, Mark-to-Market 
Accounting Method for Dealers in Securities.
    Abstract: Rev. Proc. 97-43 provides taxpayers automatic consent to 
change to mark-to-market accounting for securities after the taxpayer 
elects under section 1.475(c)-1, subject to specified terms and 
conditions. Rev. Ruling 97-39 provides taxpayers additional mark-to-
market guidance in a question and answer format.
    Affected Public: Private Sector: Businesses or other for-profits.
    Estimated Annual Burden Hours: 1,000.

    OMB Number: 1545-1639.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: TD 8936--Definition of Contribution in Aid of Construction 
under Section 118(c).
    Abstract: The regulations provide guidance with respect to section 
118(c), which provides that a contribution in aid of construction 
received by a regulated public water or sewage utility is treated as a 
contribution to the capital of the utility and excluded from gross 
income.
    Affected Public: Private Sector: Businesses or other for-profits.
    Estimated Annual Burden Hours: 300.

    OMB Number: 1545-1851.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: TD 9083--Golden Parachute Payments (REG-124312-02).
    Abstract: These regulations deny a deduction for excess parachute 
payments. A parachute payment is a payment in the nature of 
compensation to a disqualified individual that is contingent on a 
change in ownership or control of a corporation. Certain payments, 
including payments from a small corporation, are exempt from the 
definition of parachute payment if certain requirements are met (such 
as shareholder approval and disclosure requirements).
    Affected Public: Private Sector: Businesses or other for-profits.
    Estimated Annual Burden Hours: 12,000.

    OMB Number: 1545-2170.

[[Page 24468]]

    Type of Review: Extension without change of a currently approved 
collection.
    Title: Cyber Assistance Program (Authorized Cyber Assistant Host 
Application).
    Abstract: The form is used by a business to apply to become an 
Authorized Cyber Assistant Host. Information on this form will be used 
to assist in determining whether the applicant meets the qualifications 
to become a Cyber Assistant Host. Cyber Assistant is a software program 
that assists in the preparation of Form 1023, Application for 
Recognition of Exemption, under Section 501(c)(3).
    Affected Public: Private Sector: Businesses or other for-profits, 
Not-for-profit institutions.
    Estimated Annual Burden Hours: 200.

Dawn D. Wolfgang,
Treasury PRA Clearance Officer.
[FR Doc. 2013-09774 Filed 4-24-13; 8:45 am]
BILLING CODE 4830-01-P