[Federal Register Volume 79, Number 239 (Friday, December 12, 2014)]
[Notices]
[Pages 73951-73952]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-29094]


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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

December 8, 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 January 12, 2015 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: 1545-0058.
    Type of Review: Revision of a currently approved collection.
    Title: Application for Recognition of Exemption Under Section 521 
of the Internal Revenue Code.
    Form: 1028.
    Abstract: Farmers' cooperatives must file Form 1028 to apply for 
exemption from Federal income tax as being organizations described in 
IRC section 521. The information on Form 1028 provides the basis for 
determining whether the applicants are exempt.
    Affected Public: Private Sector: Businesses or other for-profits, 
farms.
    Estimated Annual Burden Hours: 3,594.

    OMB Number: 1545-0235.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Monthly Tax Return for Wagers.
    Form: 730.
    Abstract: Form 730 is used to identify taxable wagers and collect 
the tax monthly. The information is used to determine if persons 
accepting wagers are correctly reporting the amount of wagers and 
paying the required tax.
    Affected Public: Private Sector: Businesses or other for-profits.
    Estimated Annual Burden Hours: 418,362.

    OMB Number: 1545-1012.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Form 5305A-SEP--Salary Reduction Simplified Employee 
Pension-Individual Retirement Accounts Contribution Agreement.
    Form: 5305A-SEP.
    Abstract: Form 5305A-SEP is used by an employer to make an 
agreement to provide benefits to all employees under a salary reduction 
Simplified Employee Pension (SEP) described in section 408(k). This 
form is not to be filed with IRS, but is to be retained in the 
employer's records as proof of establishing such a plan, thereby 
justifying a deduction for contributions made to the SEP. The data is 
used to verify the deduction.
    Affected Public: Private Sector: Business or other for-profits.
    Estimated Annual Burden Hours: 972,000.

    OMB Number: 1545-1028.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: INTL-941-86 (NPRM) and INTL-655-87 (Temporary) (TD 8178) 
Passive Foreign Investment Companies.
    Abstract: These regulations specify how U.S. persons who are 
shareholders of passive foreign investment companies (PFICs) make 
elections with respect to their PFIC stock.
    Affected Public: Private Sector: Businesses and other for-profits.
    Estimated Annual Burden Hours: 112,500.

    OMB Number: 1545-1797.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: REG-106876-00 (TD9082) (Final), Revision of Income Tax 
Regulations under Sections 897, 1445, and 6109 to require use of 
Taxpayer Identifying Numbers on Submission under the Section 897 and 
1445.
    Abstract: The collection of information relates to applications for 
withholding certificates under sec. 1.1445-1 to be filed with the IRS 
with respect to (1) dispositions of U.S. real property interests that 
have been used by foreign persons as a principle residence within the 
prior 5 years and excluded from gross income under section 121 and (2) 
dispositions of U.S. real property interests by foreign persons in 
deferred like kind exchanges that qualify for non-recognition under 
section 1031.
    Affected Public: Private Sector: Businesses and other for-profits.
    Estimated Annual Burden Hours: 600.

    OMB Number: 1545-1926.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Notice 2005-10, Domestic Reinvestment Plans and Other 
Guidance under Section 965.
    Abstract: This notice provides guidance concerning new section 965 
of the Internal Revenue Code (Code). It sets forth general principles 
and specific guidance on domestic reinvestment plans and on investments 
in the United States described in section 965(b)(4)(B). The Treasury 
Department and the Internal Revenue Service (IRS) intend to issue 
additional notices providing guidance concerning section 965, including 
rules relating to the foreign tax credit and expense allocation, rules 
for adjusting the calculation of the base period amounts to take into 
account mergers, acquisitions and spin-offs, and rules regarding 
controlled groups.
    Affected Public: Private Sector: Businesses and other for-profits.
    Estimated Annual Burden Hours: 3,750,000.

    OMB Number: 1545-2207.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Revenue Procedure 2011-26, Additional First Year 
Depreciation Deduction.
    Abstract: This revenue procedure provides guidance under Sec.  
2022(a) of the Small Business Jobs Act of 2010, Public Law 111-240, 124 
Stat. 2504 (September 27, 2010) (SBJA), and Sec.  401(a) and (b) of the 
Tax Relief, Unemployment Insurance Reauthorization, and Job Creation 
Act of 2010, Public Law 111-312, 124 Stat. 3296 (December 17, 2010) 
(TRUIRJCA). Sections 2022(a) of the SBJA and 401(a) of the TRUIRJCA 
amend Sec.  168(k)(2) of the Internal Revenue Code by extending the 
placed-in-service date for property to qualify for the 50-percent 
additional first year depreciation deduction. Section 401(b) of the 
TRUIRJCA amends Sec.  168(k) by adding Sec.  168(k)(5) that temporarily 
allows a 100-percent additional first year depreciation deduction for 
certain new property.

[[Page 73952]]

    Affected Public: Private Sector: Businesses and other for-profits.
    Estimated Annual Burden Hours: 125,000.

Dawn D. Wolfgang,
Treasury PRA Clearance Officer.
[FR Doc. 2014-29094 Filed 12-11-14; 8:45 am]
BILLING CODE 4830-01-P