[Federal Register Volume 78, Number 145 (Monday, July 29, 2013)]
[Notices]
[Pages 45614-45615]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2013-18081]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Regulation Project

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 
Election Out of GST Deemed Allocations.

DATES: Written comments should be received on or before September 27, 
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.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the regulations should be directed to Kerry Dennis at 
Internal Revenue Service, Room 6129, 1111 Constitution Avenue NW., 
Washington DC 20224, or through the internet, at [email protected].

SUPPLEMENTARY INFORMATION: 
    Title: Election Out of GST Deemed Allocations.
    OMB Number: 1545-1892.
    Regulation Project Number: REG-153841-02 (TD 9208).
    Abstract: This information is required by the IRS for taxpayers who 
elect to have the automatic allocation rules not apply to the current 
transfer and/or to future transfers to the trust or to terminate such 
election. This information is also required by the IRS for taxpayers 
who elect to treat trusts described in section 2632(c)(3)(B)(i) through 
(vi) as GST trusts or to terminate such election. This information will 
be used to identify the trusts to which the election or termination of 
election will apply.
    Current Actions: There have been no changes to the regulation. 
However, in 2010, the regulation was repealed for one year and the 
estimated number of responses was decreased to 10 (from 25,000), which 
changed the burden hours from 12,500 to 5 hours. Since then, the one 
year repeal has expired and the regulation as well as the GST tax is in 
effect. Therefore, the estimated number of responses has been changed 
back to 25,000, with a burden of 12,500 (a change of 12,495, from 5 to 
12,500).
    Type of Review: Revision of a currently approved collection.
    Affected Public: Individuals or households.
    Estimated Number of Respondents: 25,000

[[Page 45615]]

    Estimated Time per Respondent: 30 minutes.
    Estimated total annual burden hours: 12,500.
    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: July 3, 2013.
R. Joseph Durbala,
IRS Reports Clearance Officer.
[FR Doc. 2013-18081 Filed 7-26-13; 8:45 am]
BILLING CODE 4830-01-P