[Federal Register Volume 79, Number 221 (Monday, November 17, 2014)]
[Notices]
[Page 68506]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-27045]


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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

November 10, 2014.
    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 December 17, 2014 to be 
assured of consideration.

ADDRESSES: Send comments regarding the burden estimate, or any other 
aspect of the information collection, including suggestions 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: 1545-0108.
    Type of Review: Revision of a currently approved collection.
    Title: Annual Summary and Transmittal of U.S. Information Returns.
    Form: 1096.
    Abstract: Form 1096 is used to transmit paper information returns 
(Forms 1099, 1098, 5498, and W-2G) to the IRS Service Centers. Under 
IRC section 6041 and related sections, a separate Form 1096 is used for 
each type of return sent to the service center by the payer. It is used 
by IRS to summarize and categorize the transmitted forms.
    Affected Public: Private sector: Businesses or other for-profits.
    Estimated Annual Burden Hours: 1,297,269.

    OMB Number: 1545-1204.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Low-Income Housing Credit Agencies Report of Noncompliance 
or Building Disposition.
    Form: 8823.
    Abstract: Form 8823 is used by housing agencies to report 
noncompliance with the low-income housing provisions of Code section 
42.
    Affected Public: State, Local, and Tribal Governments.
    Estimated Annual Burden Hours: 303,200.

    OMB Number: 1545-1374.
    Type of Review: Revision of a currently approved collection.
    Title: Qualified Electric Vehicle Credit.
    Form: 8834.
    Abstract: Form 8834 is used to claim any qualified electric vehicle 
passive activity credit allowed for the current tax. The data on Form 
8834 will be used to determine that the credit is allowable and that it 
has been properly computed.
    Affected Public: Private sector: Business or other for-profits.
    Estimated Annual Burden Hours: 15,022.

    OMB Number: 1545-1945.
    Type of Review: Revision of a currently approved collection.
    Title: 26 U.S. Code Sec.  475--Mark-to-market Accounting Method for 
Dealers in Securities.
    Abstract: Section 475 was added by section 13223(a) of the Revenue 
Reconciliation Act of 1993, Public Law 103-66, 107 Stat. 481, and is 
effective for all taxable years ending on or after December 31, 1993. 
The statutory requirements under 26 U.S.C. 475 are codified under 26 
CFR Part 1, sections 1.475 et al. Information collection requirements 
under Sec.  1.475(a)-4 sets forth an elective safe harbor that permits 
dealers in securities and dealers in commodities to elect to use the 
values of positions reported on certain financial statements as the 
fair market values of those positions for purposes of section 475 of 
the Internal Revenue Code (Code). This safe harbor is intended to 
reduce the compliance burden on taxpayers and to improve the 
administrability of the valuation requirement of section 475. The 
recordkeeping requirement under section 1.475(b)-4 are required to 
determine whether exemption from mark-to-market treatment is properly 
claimed, and will be used to make that determination upon audit of 
taxpayer's books and records. The information under section 1.475(c)-
1(a)(3)(iii), is necessary to determine whether a consolidated group 
has elected to disregard inter-member transactions in determining a 
member's status as a dealer in securities.
    Affected Public: Private sector: Businesses and other for-profits.
    Estimated Annual Burden Hours: 52,182.

Dawn D. Wolfgang,
Treasury PRA Clearance Officer.
[FR Doc. 2014-27045 Filed 11-14-14; 8:45 am]
BILLING CODE 4830-01-P