[Federal Register Volume 79, Number 243 (Thursday, December 18, 2014)]
[Notices]
[Pages 75617-75618]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-29637]


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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

December 15, 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.

[[Page 75618]]


DATES: Comments should be received on or before January 20, 2015 to be 
assured of consideration.

ADDRESSES: Send comments regarding the burden estimates, or any other 
aspect of the information collections, 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 8141, Washington, 
DC 20220, or email at [email protected].

FOR FURTHER INFORMATION CONTACT: Copies of the submissions may be 
obtained by emailing [email protected], calling (202) 622-1295, or 
viewing the entire information collection request at www.reginfo.gov.

Internal Revenue Service (IRS)

    OMB Number: 1545-0879.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: TD 8426 (Final)--Certain Returned Magazines, Paperbacks or 
Records (IA-195-78).
    Abstract: The final regulations provide rules relating to an 
exclusion from gross income for certain returned merchandise. The 
regulations provide that in addition to physical return of the 
merchandise, a written statement listing certain information may 
constitute evidence of the return. Taxpayers who receive physical 
evidence of the return may, in lieu of retaining physical evidence, 
retain documentary evidence of the return. Taxpayers in the trade or 
business of selling magazines, paperbacks, or records, who elect to use 
a certain method of accounting, are affected.
    Affected Public: Businesses or other for-profits.
    Estimated Annual Burden Hours: 8,125.

    OMB Number: 1545-1008.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Form 8582--Passive Activity Loss Limitations.
    Form: Form 8582.
    Abstract: Under Internal Revenue Code section 469, losses from 
passive activities, to the extent that they exceed income from passive 
activities, cannot be deducted against nonpassive income. Form 8582 is 
used to figure the passive activity loss allowed and the loss to be 
reported on the tax return.
    Affected Public: Individuals or households.
    Estimated Annual Burden Hours: 8,451,989.

    OMB Number: 1545-1773.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Revenue Procedure 2014-55, Election Procedures and 
Information Reporting with Respect to Interests in Certain Canadian 
Retirement Plans.
    Abstract: Revenue Procedure 2002-23 provided guidance for the 
application by U.S. citizens and residents of the U.S.-Canada Income 
Tax Treaty, as amended by the 1995 protocol, in order to defer U.S. 
income taxes on income accrued in certain Canadian retirement plans. 
This Revenue Procedure was superseded by Revenue Procedure 2014-55, 
which provides that such individuals will be treated as having made the 
election in the first year in which they would have been entitled to 
make the election under the treaty.
    Affected Public: Individuals or households.
    Estimated Annual Burden Hours: 10,000.

Brenda Simms,
Treasury PRA Clearance Officer.
[FR Doc. 2014-29637 Filed 12-17-14; 8:45 am]
BILLING CODE 4830-01-P