[Federal Register Volume 79, Number 66 (Monday, April 7, 2014)]
[Notices]
[Pages 19174-19175]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-07724]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Revenue Procedure 2005-
24/Notice 2006-15

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)). The IRS is soliciting comments concerning information 
collection requirements related to Revenue Procedure 2005-24, waiver of 
spousal election, and Notice 2006-15, extension of June 28, 2005, safe 
harbor date.

DATES: Written comments should be received on or before June 6, 2014 to 
be assured of consideration.

ADDRESSES: Direct all written comments to Christie A. Preston, Internal 
Revenue Service, Room 6129, 1111 Constitution Avenue NW., Washington, 
DC 20224.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the revenue procedure should be directed to Gerald J. 
Shields, LL.M. at Internal Revenue Service, Room 6129, 1111 
Constitution Avenue NW., Washington, DC 20224, or through the internet 
at [email protected].
    Title: Waiver of Spousal Election.
    OMB Number: 1545-1936.
    Revenue Procedure Number: Revenue Procedure 2005-24.
    Abstract: Revenue Procedure 2005-24 provides notice to a husband or 
wife who has an interest in a Charitable Remainder Annuity Trust (CRAT) 
under section 664(d)(1) of the Internal Revenue Code or Charitable 
Remainder Unitrust (CRUT) under section 664(d)(2) that was created by 
his or her spouse where, under applicable state law, such spouse has a 
right to receive an elective share that could be satisfied with assets 
of the CRAT or CRUT. In cases where such a CRAT or CRUT is established 
after the date that is ninety days after the date this revenue 
procedure is published in the IRB, the husband or wife must waive the 
right to receive the elective share in order for the CRAT or CRUT to 
continue to qualify under section 664(d)(1)(b) or (d)(2)(B). Notice 
2006-15 (2006-1 C.B. 501) extends the June 28, 2005, grandfather date 
in Revenue Procedure 2005-24 (2005-1 C.B. 909), until further guidance 
is issued by the Internal Revenue Service.
    Current Actions: There are no changes being made to the revenue 
procedure or notice at this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations, not-
for-profit institutions, and state, local or tribal governments.
    Estimated Number of Respondents: 100,000.
    Estimated Time per Respondent: 1 hour 30 minutes.
    Estimated Total Annual Burden Hours: 150,000.
    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

[[Page 19175]]

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: March 24, 2014.
Christie A. Preston,
IRS Reports Clearance Officer.
[FR Doc. 2014-07724 Filed 4-4-14; 8:45 am]
BILLING CODE 4830-01-P