[Federal Register Volume 79, Number 249 (Tuesday, December 30, 2014)]
[Notices]
[Pages 78566-78572]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-30376]


-----------------------------------------------------------------------

DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

December 22, 2014.
    The Department of the Treasury will submit the following 
information collection request 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 29, 2015 to be 
assured of consideration.

ADDRESSES: Send comments regarding the burden estimate, or any other 
aspect of the information collection, including suggestion 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

    OMB Number: 1545-0001.
    Type of Review: Extension of a currently cleared collection.
    Title: Employer's Annual Railroad Retirement Tax Return.
    Form: CT-1, CT-1X.
    Abstract: Railroad employers are required to file an annual return 
to report employer and employee Railroad Retirement Tax Act (RRTA). 
Form CT-1 is used for this purpose. IRS uses the information to insure 
that the employer has paid the correct tax.
    Affected Public: Private sector: Businesses or other for-profit 
institutions.
    Estimated Total Burden Hours: 39,455.

    OMB Number: 1545-0096.
    Type of Review: Extension of a currently cleared collection.

[[Page 78567]]

    Title: Form 1042, Annual Withholding Tax Return for U.S. Source 
Income of Foreign Persons; Form 1042-S, Foreign Person's U.S. Source 
Income Subject to Withholding, Form 1042-T, Annual Summary and 
Transmittal of Form 1042-S.
    Forms: 1042, 1042-S, 1042-T.
    Abstract: Form 1042 is used by withholding agents to report tax 
withheld at source on certain income paid to nonresident alien 
individuals, foreign partnerships, and foreign corporations to the IRS. 
Form 1042-S is used by withholding agents to report income and tax 
withheld to payees. A copy of each 1042-S is filed magnetically or with 
Form 1042 for information reporting purposes. The IRS uses this 
information to verify that the correct amount of tax has been withheld 
and paid to the United States. Form 1042-T is used by withholding 
agents to transmit Forms 1042-S to the IRS.
    Affected Public: Private sector: Business or other for-profits.
    Estimated Total Burden Hours: 2,705,594.

    OMB Number: 1545-0110.
    Type of Review: Revision of a currently approved collection.
    Title: Form 1099-DIV--Dividends and Distributions.
    Form: 1099-DIV.
    Abstract: The Form 1099-DIV is used by the Service to insure that 
dividends are properly reported as required by Code section 6042 and 
that liquidation distributions are correctly reported as required by 
Code section 6043, and to determine whether payees are correctly 
reporting their income.
    Affected Public: Private sector: Businesses or other for-profit 
institutions.
    Estimated Total Burden Hours: 34,115,874.

    OMB Number: 1545-0152.
    Type of Review: Extension of a currently approved collection.
    Title: Application for Change in Accounting Method.
    Form: 3115.
    Abstract: Form 3115 is used by taxpayers who wish to change their 
method of computing their taxable income. The form is used by the IRS 
to determine if electing taxpayers have met the requirements and are 
able to change to the method requested.
    Affected Public: Private sector: Business or other for-profits.
    Estimated Total Burden Hours: 929,066.

    OMB Number: 1545-0238.
    Type of Review: Revision of a currently approved collection.
    Title: Form W-2G--Certain Gambling Winnings.
    Form: W-2G.
    Abstract: Section 6041 of the Internal Revenue Code requires payers 
of certain gambling winnings to report them to IRS. If applicable, 
section 3402(g) and section 3406 require tax withholding on these 
winnings. We use the information to ensure taxpayers' reporting 
compliance.
    Affected Public: Individuals.
    Estimated Total Burden Hours: 4,304,877.

    OMB Number: 1545-0284.
    Type of Review: Extension of a currently approved collection.
    Title: Application for Determination of Employee Stock Ownership 
Plan.
    Form: 5309.
    Abstract: Form 5309 is used in conjunction with Form 5300 when 
applying for a determination letter as to a deferred compensation 
plan's qualification status under section 409 or 4975(e)(7) of the 
Internal Revenue Code. The information is used to determine whether the 
plan qualifies.
    Affected Public: Private sector: Business or other for-profits.
    Estimated Total Burden Hours: 26,975.

    OMB Number: 1545-0723.
    Type of Review: Extension of a currently approved collection.
    Title: T.D. 8043--Manufacturers Excise Taxes and Sporting Goods and 
Firearms and Other Administrative Provisions of Special Application to 
Manufacturers and Retailers Excise Taxes.
    Abstract: This document contains final regulations which revise and 
update the regulations on manufacturers excise taxes on sporting goods 
and firearms and other administrative provisions especially applicable 
to manufacturers and retailers excise taxes. The IRS requires 
information relating to the sale and use of specified articles be 
retained by persons claiming credits and refunds of tax. In addition, 
information must be reported to claimants by purchasers of those 
articles, and claimants must file claims with the IRS and supply 
supporting information with the claims. The information is necessary to 
verify that claims submitted are correct and that the claimants are 
entitled to receive a credit or refund of tax from the IRS.
    Affected Public: Private sector: Business or other for-profits.
    Estimated Total Burden Hours: 475,000.

    OMB Number: 1545-0795.
    Type of Review: Revision of a currently approved collection.
    Title: Form 8233--Exemption From Withholding on Compensation for 
Independent (and Certain Dependent) Personal Services of a Nonresident 
Alien Individual.
    Form: 8233.
    Abstract: Compensation paid to a nonresident alien (NRA) individual 
for independent personal services (self-employment) is generally 
subject to 30% withholding or graduated rates. However, compensation 
may be exempt from withholding because of a U.S. tax treaty or personal 
exemption amount. Form 8233 is used to request exemption from 
withholding.
    Affected Public: Individuals.
    Estimated Total Burden Hours: 684,334.


    OMB Number: 1545-0863.
    Type of Review: Extension of a currently approved collection.
    Title: LR-218-78 (Final) Product Liability Losses and Accumulations 
for Product Liability Losses.
    Abstract: Generally, a taxpayer who sustains a product liability 
loss must carry the loss back 10 years. However, a taxpayer may elect 
to have such loss treated as a regular net operating loss under section 
172. If desired, such election is made by attaching a statement to the 
tax return. This statement will enable the IRS to monitor compliance 
with the statutory requirements.
    Affected Public: Private sector: Business or other for-profits.
    Estimated Total Burden Hours: 2,500.

    OMB Number: 1545-0922.
    Type of Review: Extension of a currently approved collection.
    Title: Form 8329, Lender's Information Return for Mortgage Credit 
Certificates (MCCs); Form 8330, Issuer's Quarterly Information Return 
for Mortgage Credit Certificates (MCCs).
    Form: 8329, 8330.
    Abstract: Form 8329 is used by lending institutions and Form 8330 
is used by state and local governments to report on mortgage credit 
certificates (MCCs) authorized under IRC Section 25. IRS matches the 
information supplied by lenders and issuers to ensure that the credit 
is computed properly.
    Affected Public: Private sector: Business or other for-profits.
    Estimated Total Burden Hours: 73,720.

    OMB Number: 1545-1100.
    Type of Review: Extension of a currently approved collection.
    Title: REG-209106-89 (NPRM) Changes With Respect to Prizes and 
Awards and Employee Achievement Awards.

[[Page 78568]]

    Abstract: This regulation requires recipients of prizes and awards 
to maintain records to determine whether a qualifying designation has 
been made. The affected public are prize and award recipients who seek 
to exclude the cost of a qualifying prize or award.
    Affected Public: Individuals.
    Estimated Total Burden Hours: 1,275.

    OMB Number: 1545-1139.
    Type of Review: Extension of a currently approved collection.
    Title: Adjustments to Basis of Stock and Indebtedness to 
Shareholders of S Corporations and Treatment of Distributions by S 
Corporations to Shareholders (TD 9300); TD 9428--Section 1367 Regarding 
Open Account Debt (TD 9428).
    Abstract: The regulations provide the procedures and the statements 
to be filed by S corporations for making the election provided under 
section 1368, and by shareholders who choose to reorder items that 
decrease their basis. Statements required to be filled will be used to 
verify that taxpayers are complying with the requirements imposed by 
Congress.
    Affected Public: Private sector: Business or other for-profits.
    Estimated Total Burden Hours: 450.

    OMB Number: 1545-1218.
    Type of Review: Extension of a currently approved collection.
    Title: CO-25-96 (TD 8824--Final) Regulations Under Section 1502 of 
the Internal Revenue Code of 1986; Limitations on Net Operating Loss 
Carryforwards and Certain Built-in Losses and Credits Following.
    Abstract: Section 1502 provides for the promulgation of regulations 
with respect to corporations that file consolidated income tax returns. 
Section 382 limits the amount of income that can be offset by loss 
carryovers and credits after an ownership change. These final 
regulations provide rules for applying section 382 to groups of 
corporations that file a consolidated return.
    Affected Public: Private sector: Business or other for-profits.
    Estimated Total Burden Hours: 662.

    OMB Number: 1545-1275.
    Type of Review: Extension of a currently approved collection.
    Title: Limitations on net operating loss carryforwards and certain 
built-in losses following ownership change.
    Abstract: 26 U.S.C. 382 limits the amount of the taxable income of 
any new loss corporation for any post-change year which may be offset 
by pre-change losses, for each such year. 26 CFR 1.382-9(d)(2)(iii) and 
(d)(4)(iv) allow a loss corporation to rely on a statement by 
beneficial owners of indebtedness in determining whether the loss 
corporation qualifies under section 382(l)(1)(5). Section 1.382-
9(d)(6)(ii) requires a loss corporation to file an election if it wants 
to apply the regulations retroactively, or revoke a prior section 
382(l)(1)(6) election.
    Affected Public: Private sector: Business or other for-profits.
    Estimated Total Burden Hours: 200.

    OMB Number: 1545-1385.
    Type of Review: Revision of a currently approved collection.
    Title: TD 8549 (Final) Preparer Penalties--Manual Signature 
Requirement.
    Abstract: The reporting requirements affect returns preparers of 
fiduciary returns. They will be required to submit a list of the names 
and identifying numbers of all fiduciary returns which are being filed 
with a facsimile signature of the returns preparer.
    Affected Public: Private sector: Business or other for-profits.
    Estimated Total Burden Hours: 24,000.

    OMB Number: 1545-1393.
    Type of Review: Extension of a currently approved collection.
    Title: EE-14-81 Deductions and Reductions in Earnings and Profits 
(or Accumulated Profits) With Respect to Certain Foreign Deferred 
Compensation Plans Maintained by Certain Foreign Corporations.
    Abstract: The regulation provides guidance regarding the 
limitations on deductions and adjustments to earnings and profits (or 
accumulated profits) for certain foreign deferred compensation plans. 
Respondents will be multinational corporations.
    Affected Public: Private sector: Business or other for-profits.
    Estimated Total Burden Hours: 634,450.

    OMB Number: 1545-1484.
    Type of Review: Extension of a currently approved collection.
    Title: TD 8881 (Final) REG-242282-97 (formerly Intl-62-90, Intl-32-
93, Intl-52-86, and Intl-52-94) General Revision of Regulations 
Relating to Withholding of Tax on Certain U.S. Source Income Paid to 
Foreign.
    Abstract: This document contains regulations relating to the 
withholding of income tax under sections 1441, 1442, and 1443 on 
certain U.S. source income paid to foreign persons and related 
requirements governing collection, deposit, refunds, and credits of 
withheld amounts under sections 1461 through 1463. These regulations 
affect persons making payments of U.S. source income to foreign 
persons.
    Affected Public: Private sector: Business or other for-profits.
    Estimated Total Burden Hours: 1.

    OMB Number: 1545-1488.
    Type of Review: Extension of a currently approved collection.
    Title: Requirements Respecting the Adoption or Change of Accounting 
Method, Extensions of Time to Make Elections. TD 8742--(final).
    Abstract: This document contains final regulations providing the 
procedures for requesting an extension of time to make certain 
elections under the Internal Revenue Code. In addition, the regulations 
provide the standards that the Commissioner will use in determining 
whether to grant taxpayers extensions of time to make certain elections 
including changes in accounting method and accounting period.
    Affected Public: Private sector: Business or other for-profits.
    Estimated Total Burden Hours: 5,000.

    OMB Number: 1545-1519.
    Type of Review: Revision of a currently approved collection.
    Title: Form 1099 LTC--Long-Term Care and Accelerated Death 
Benefits.
    Form: 1099-LTC.
    Abstract: Under the terms of IRC sections 7702B and 101g, qualified 
long- term care and accelerated death benefits paid to chronically ill 
individuals are treated as amounts received for expenses incurred for 
medical care. Amounts received on a per diem basis in excess of $175 
per day are taxable. Section 6050Q requires all such amounts to be 
reported.
    Affected Public: Private sector: Business or other for-profits.
    Estimated Total Burden Hours: 67,275.

    OMB Number: 1545-1633.
    Type of Review: Extension of a currently approved collection.
    Title: T.D. 8802--Certain Asset Transfers to a Tax-Exempt Entity.
    Abstract: This document contains final regulations that implement 
provisions of the Tax Reform Act of 1986 and the Technical and 
Miscellaneous Revenue Act of 1988. The final regulations generally 
affect a taxable corporation that transfers all or substantially all of 
its assets to a tax-exempt entity or converts from a taxable 
corporation to a tax-exempt entity in a transaction other than a 
liquidation, and generally require the taxable corporation to recognize 
gain or loss as if it had sold the assets transferred at fair market 
value.
    Affected Public: Private sector: Business or other for-profits.
    Estimated Total Burden Hours: 125.


[[Page 78569]]


    OMB Number: 1545-1643.
    Type of Review: Extension of a currently approved collection.
    Title: REG-209484-87 (TD 8814 final) Federal Insurance 
Contributions Act (FICA) Taxation of Amounts Under Employee Benefit 
Plans.
    Abstract: This regulation provides guidance as to when amounts 
deferred under or paid from a nonqualified deferred compensation plan 
are taken into account as wages for purposes of the employment taxes 
imposed by the Federal Insurance Contributions Act (FICA). Section 
31.3121(v)(2)-1(a)(2) requires that the material terms of a plan be set 
forth in writing.
    Affected Public: Private sector: Business or other for-profits.
    Estimated Total Burden Hours: 12,500.

    OMB Number: 1545-1646.
    Type of Review: Extension of a currently approved collection.
    Title: Return Requirement for United States Persons who acquire or 
dispose of an interest in a foreign partnership, or whose proportional 
interest in a foreign partnership changes.
    Abstract: This document contains final regulations under section 
6046A of the Internal Revenue Code relating to the requirement that 
United States persons, in certain circumstances, file a return if they 
acquire or dispose of an interest in a foreign partnership, or if their 
proportional interest in a foreign partnership changes. The burden of 
complying with the collection of information required to be reported on 
Form 8865 is reflected in the burden for Form 8865, ``Return of U.S. 
Persons With Respect to Certain Foreign Partnerships.''
    Affected Public: Private sector: Business or other for-profits.
    Estimated Total Burden Hours: 1.

    OMB Number: 1545-1654.
    Type of Review: Extension of a currently approved collection.
    Title: T.D. 8902, Capital Gains, Partnership and Subchapter S, and 
Trust Provisions.
    Abstract: This document contains final regulations relating to 
sales or exchanges of interests in partnerships, S corporations, and 
trusts. The regulations interpret the look-through provisions of 
section 1(h), added by section 311 of the Taxpayer Relief Act of 1997 
and amended by sections 5001 and 6005(d) of the Internal Revenue 
Service Restructuring and Reform Act of 1998, and explain the rules 
relating to the division of the holding period of a partnership 
interest. The regulations affect partnerships, partners, S 
corporations, S corporation shareholders, trusts, and trust 
beneficiaries.
    Affected Public: Private sector: Business or other for-profits.
    Estimated Total Burden Hours: 1.

    OMB Number: 1545-1655.
    Type of Review: Extension of a currently approved collection.
    Title: T.D. 8861, Private Foundation Disclosure Rules.
    Form: 3115.
    Abstract: This document contains final regulations that amend the 
regulations relating to the public disclosure requirements described in 
section 6104(d) of the Internal Revenue Code. These final regulations 
implement changes made by the Tax and Trade Relief Extension Act of 
1998, which extended to private foundations the same rules regarding 
public disclosure of annual information returns that apply to other 
tax-exempt organizations. These final regulations provide guidance for 
private foundations required to make copies of applications for 
recognition of exemption and annual information returns available for 
public inspection and to comply with requests for copies of those 
documents.
    Affected Public: Private sector: Not-for-profit organizations.
    Estimated Total Burden Hours: 32,596.

    OMB Number: 1545-1658.
    Type of Review: Extension of a currently approved collection.
    Title: T.D. 8940, Purchase Price Allocations in Deemed Actual Asset 
Acquisitions.
    Abstract: This document contains final regulations relating to 
deemed and actual asset acquisitions under sections 338 and 1060. The 
final regulations affect sellers and buyers of corporate stock that are 
eligible to elect to treat the transaction as a deemed asset 
acquisition. The final regulations also affect sellers and buyers of 
assets that constitute a trade or business.
    Affected Public: Private sector: Business or other for-profits.
    Estimated Total Burden Hours: 25.

    OMB Number: 1545-1686.
    Type of Review: Extension of a currently approved collection.
    Title: TD 9352--Material Advisors of Reportable Transactions must 
keep lists of Advisees; Form 13976.
    Form: 13976.
    Abstract: TD 9352 contains final regulations under section 6112 of 
the Internal Revenue Code providing the rules relating to the 
obligation of material advisors to prepare and maintain lists with 
respect to reportable transactions under section 6112 of the Internal 
Revenue Code. Under Section 301.6112-1(b), the form provides material 
advisors a format for preparing and maintaining the itemized statement 
component of the list with respect to a reportable transaction. This 
form contains space for all of the elements required by regulations 
section 301.6112-1(b)(3). Material advisors may use this form as a 
template for creating a similar form on a software program used by the 
material advisor.
    Affected Public: Private sector: Business or other for-profits.
    Estimated Total Burden Hours: 50,000.

    OMB Number: 1545-1763.
    Type of Review: Extension of a currently approved collection.
    Title: Form 8302--Electronic Deposit of Tax Refund of $1 Million or 
more.
    Form: 8302.
    Abstract: This form is used to request a electronic deposit of a 
tax refund of $1 million or more directly into an account at any U.S. 
bank or other financial institution.
    Affected Public: Private sector: Business or other for-profits.
    Estimated Total Burden Hours: 1,729.

    OMB Number: 1545-1768.
    Type of Review: Extension of a currently approved collection.
    Title: Revenue Procedure 2003-84, Optional Election to Make Monthly 
Sec. 706 Allocations.
    Abstract: This revenue procedure allows certain partnerships with 
money market fund partners to make an optional election to close the 
partnership's books on a monthly basis with respect to the money market 
fund partners.
    Affected Public: Private sector: Business or other for-profits.
    Estimated Total Burden Hours: 500.

    OMB Number: 1545-1779.
    Type of Review: Extension of a currently approved collection.
    Title: Notice 2002-27--IRA Required Minimum Distribution Reporting.
    Abstract: This notice provides guidance with respect to the 
reporting requirements, that is, data that custodians and trustees of 
IRAs must furnish IRA owners in those instances where there must be a 
minimum distribution from an individual retirement arrangement.
    Affected Public: Private sector: Business or other for-profits.
    Estimated Total Burden Hours: 1,170,000.
    OMB Number: 1545-1784.
    Type of Review: Extension of a currently approved collection.
    Title: Rev Proc 2002-32 as Modified by Rev Proc 2006-21, Waiver of 
60-month Bar on Reconsolidation after Disaffiliation.

[[Page 78570]]

    Abstract: Revenue Procedure 2002-32 provides qualifying taxpayers 
with a waiver of the general rule of Sec.  1504(a)(3)(A) of the 
Internal Revenue Code barring corporations from filing consolidated 
returns as a member of a group of which it had been a member for 60 
months following the year of disaffiliation; Revenue Procedure 2006-21 
modifies Rev. Proc. 89-56, 1989-2 C.B. 643, Rev. Proc. 90-39, 1990-2 
C.B. 365, and Rev. Proc. 2002-32, 2002-20 IRB p.959, to eliminate 
impediments to the electronic filing of Federal income tax returns (e-
filing) and to reduce the reporting requirements in each of these 
revenue procedures.
    Affected Public: Private sector: Business or other for-profits.
    Estimated Total Burden Hours: 100.

    OMB Number: 1545-1786.
    Type of Review: Extension of a currently approved collection.
    Title: Rev. Procs. 2002-39, 2006-45 (Previous 2002-37), 2006-46 
(Previous 2002-38) and Rev. Proc 2007-64; Changes in Periods of 
Accounting.
    Abstract: The collections of information in these three (3) revenue 
procedures is necessary for the Commissioner to determine whether a 
taxpayer may properly obtain approval to adopt, change, or retain an 
annual accounting period.
    Affected Public: Private sector: Business or other for-profits.
    Estimated Total Burden Hours: 700.

    OMB Number: 1545-1793.
    Type of Review: Extension of a currently approved collection.
    Title: Rev. Proc. 2002-43--Determination of Substitute Agent for a 
Consolidated Group.
    Abstract: The information is needed in order for (i) a terminating 
common parent of a consolidated group to notify the IRS that it will 
terminate and to designate another corporation to be the group's 
substitute agent, pursuant to Treas. Reg. Sec. 1.1502-77(d)(1) or Sec. 
1.1052-77A(d); (ii) the remaining members of a consolidated group to 
designate a substitute agent pursuant to Sec. 1.1502-77A(d); (iii) the 
default substitute agent to notify the IRS that it is the default 
substitute agent pursuant to Sec. 1.1502-77(d)(2); or (iv) requests by 
a member of the group for the IRS to designate a substitute agent or 
replace a previously designated substitute agent. The IRS will use the 
information to determine whether to approve the designation (if 
approval is required), to designate a substitute agent, or to replace a 
substitute agent, and to change the IRS's records to reflect the name 
and other information about the substitute agent.
    Affected Public: Private sector: Business or other for-profits.
    Estimated Total Burden Hours: 400.

    OMB Number: 1545-1795.
    Type of Review: Extension of a currently approved collection.
    Title: T.D. 9079--Ten or More Employer Plan Compliance Information.
    Abstract: This document contains final regulations that provide 
rules regarding the requirements for a welfare benefit fund that is 
part of a 10 or more employer plan. The regulations affect certain 
employers that provide welfare benefits to employees through a plan to 
which more than one employer contributes.
    Affected Public: Private sector: Business or other for-profits.
    Estimated Total Burden Hours: 2,500.

    OMB Number: 1545-1798.
    Type of Review: Revision of a currently approved collection.
    Title: User Fee for Exempt Organization Determination Letter 
Request.
    Form: 8718.
    Abstract: Section 7528 of the Code directs the Secretary of the 
Treasury or delegate (the ``Secretary'') to establish a program 
requiring the payment of user fees for requests to the Service for 
letter rulings, opinion letters, determination letters, and similar 
requests. Form 8718, User Fee for Exempt Organization Determination 
Letter Request, was created as a result of The Omnibus Reconciliation 
Act of 1990 which requires payment of a ``user fee'' with each 
application for a determination letter. Form 8718 provides filers with 
the means to enclose their user fee payment and indicate what type of 
request they are making.
    Affected Public: Private sector: Business or other for-profits.
    Estimated Total Burden Hours: 719.

    OMB Number: 1545-1910.
    Type of Review: Extension of a currently approved collection.
    Title: Information Return of U.S. Persons With Respect To Foreign 
Disregarded Entities (Form 8858); and Transactions Between Foreign 
Disregarded Entity of a Foreign Tax Owner and the Filer.
    Form: 8858.
    Abstract: Form 8858 and Schedule M (Form 8858) are used by certain 
U.S. persons that own a foreign disregarded entity (FDE) directly or, 
in certain circumstances, indirectly or constructively.
    Affected Public: Private sector: Business or other for-profits.
    Estimated Total Burden Hours: 1,832,500.

    OMB Number: 1545-1930.
    Type of Review: Extension of a currently approved collection.
    Title: T.D. 9248--Residence and Source Rules Involving U.S. 
Possessions and Other Conforming Changes (Final and Temporary).
    Abstract: T.D. 9248 contains final regulations that provide rules 
for determining bona fide residency in the following U.S. possessions: 
American Samoa, Guam, the Northern Mariana Islands, Puerto Rico, and 
the United States Virgin Islands under sections 937(a) and 881(b) of 
the Internal Revenue Code (Code).
    Affected Public: Individuals.
    Estimated Total Burden Hours: 300,000.

    OMB Number: 1545-1934.
    Type of Review: Extension of a currently approved collection.
    Title: TD 9394 (REG-108524-00) (Final)--Section 1446 Regulations; 
Form 8804-C--Certificate of Partner-Level Items to Reduce Section 1446 
Withholding.
    Form: 8804-C.
    Abstract: This regulations implements withholding regime on 
partnerships conducting business in the United States that have foreign 
partners. Such partners are required to pay withholding tax in 
installments on each foreign partner's allocable share of the 
partnership's U.S. Business taxable income. Special rules for publicly 
traded partnerships such that these partnerships pay withholding tax on 
distributions to foreign partners.
    Affected Public: Private sector: Business or other for-profits.
    Estimated Total Burden Hours: 18,701.

    OMB Number: 1545-1946.
    Type of Review: Extension of a currently approved collection.
    Title: T.D. 9315 (Final) Dual Consolidated Loss Regulations.
    Abstract: This document contains final regulations under section 
1503(d) of the Internal Revenue Code (Code) regarding dual consolidated 
losses. Section 1503(d) generally provides that a dual consolidated 
loss of a dual resident corporation cannot reduce the taxable income of 
any other member of the affiliated group unless, to the extent provided 
in regulations, the loss does not offset the income of any foreign 
corporation. Similar rules apply to losses of separate units of 
domestic corporations. These final regulations address various dual 
consolidated loss issues, including exceptions to the general 
prohibition against using a dual consolidated loss to reduce the 
taxable income of any other member of the affiliated group.

[[Page 78571]]

    Affected Public: Private sector: Business or other for-profits.
    Estimated Total Burden Hours: 2,765.

    OMB Number: 1545-2099.
    Type of Review: Extension of a currently approved collection.
    Title: Excise Tax on Certain Transfers of Qualifying Geothermal or 
Mineral Interests.
    Form: 8924.
    Abstract: Form 8924, Excise Tax on Certain Transfers of Qualifying 
Geothermal or Mineral Interests, is required by Section 403 of the Tax 
Relief and Health Care Act of 2006 which imposes an excise tax on 
certain transfers of qualifying mineral or geothermal interests.
    Affected Public: Private sector: Business or other for-profits.
    Estimated Total Burden Hours: 111.

    OMB Number: 1545-1364.
    Type of Review: Extension of a currently approved collection.
    Title: TD 9568--Section 482 Methods to Determine Taxable Income in 
Connection with a Cost Sharing Arrangement.
    Abstract: This document contains final regulations regarding 
methods to determine taxable income in connection with a cost sharing 
arrangement under section 482 of the Internal Revenue Code (Code). The 
final regulations address issues that have arisen in administering the 
current cost sharing regulations. The final regulations affect domestic 
and foreign entities that enter into cost sharing arrangements 
described in the final regulations.
    Affected Public: Private sector: Business or other for-profits.
    Estimated Total Burden Hours: 9,350.

    OMB Number: 1545-1518.
    Type of Review: Revision of a currently approved collection.
    Title: HSA, Archer MSA, or Medicare Advantage MSA Information.
    Form: 5498-SA 2014, 5498-SA 2015.
    Abstract: Section 220(h) requires trustees to report to the IRS and 
medical savings account holders contributions to and the year-end fair 
market value of any contributions made to a medical savings account 
(MSA). Congress requires Treasury to report to them the total 
contributions made to an MSA for the current tax year. Section 1201 of 
the Medicare Prescription Drug, Improvement, and Modernization Act of 
2003 (P.L. 108-173) created new Code section 223. Section 223(h) 
requires the reporting of contributions to and the year-end fair market 
value of health savings accounts for tax years beginning after December 
31, 2003.
    Affected Public: Private sector: Business or other for-profits.
    Estimated Total Burden Hours: 1,559.

    OMB Number: 1545-1581.
    Type of Review: Extension of a currently approved collection.
    Title: T.D. 8812 Continuation Coverage Requirements Applicable to 
Group Health Plans.
    Abstract: The regulations require group health plans to provide 
notices to individuals who are entitled to elect COBRA (The 
Consolidated Omnibus Budget Reconciliation Act of 1985) continuation 
coverage of their election rights. Individuals who wish to obtain the 
benefits provided under the statute are required to provide plans 
notices in the cases of divorce from the covered employee, a dependent 
child's ceasing to be dependent under the terms of the plan, and 
disability. Most plans will require that elections of COBRA 
continuation coverage be made in writing. In cases where qualified 
beneficiaries are short by an insignificant amount in a payment made to 
the plan, the regulations require the plan to notify the qualified 
beneficiary if the plan does not wish to treat the tendered payment as 
full payment. If a health care provider contacts a plan to confirm 
coverage of a qualified beneficiary, the regulations require that the 
plan disclose the qualified beneficiary's complete rights to coverage.
    Affected Public: Private sector: Business or other for-profits.
    Estimated Total Burden Hours: 404,640.

    OMB Number: 1545-1648.
    Type of Review: Revision of a currently approved collection.
    Title: Publication 3319--Low-Income Taxpayer Clinic Grant 
Application Package and Guidelines; Grant Web site.
    Abstract: Publication 3319 is the grant application and program 
requirements for our external customers, non-profits, legal aid 
societies, universities, law schools, and will be used by anyone in the 
U.S. and territories to apply for a low income taxpayer grant. There is 
a Web site which collects the information.
    Affected Public: Private sector: Business or other for-profits.
    Estimated Total Burden Hours: 9,000.

    OMB Number: 1545-1765.
    Type of Review: Extension of a currently approved collection.
    Title: T.D. 9171, New Markets Tax Credit.
    Abstract: The regulations provide guidance for taxpayers claiming 
the new markets tax credit under section 45D of the Internal Revenue 
Code. The reporting requirements in the regulations require a qualified 
community development entity (CDE) to provide written notice to: (1) 
Any taxpayer who acquires an equity investment in the CDE at its 
original issue that the equity investment is a qualified equity 
investment entitling the taxpayer to claim the new markets tax credits; 
and (2) each holder of a qualified equity investment, including all 
prior holders of that investment that a recapture event has occurred. 
CDE's must comply with such reporting requirements to the Secretary as 
the Secretary may prescribe.
    Affected Public: Private sector: Business or other for-profits.
    Estimated Total Burden Hours: 210.

    OMB Number: 1545-1776.
    Type of Review: Extension of a currently approved collection.
    Title: Form 1041-N--U.S. Income Tax Return for Electing Alaska 
Native Settlement Trusts.
    Form: 1041-N.
    Abstract: An Alaska Native Settlement Trust (ANST) may elect under 
section 646 to have the special income tax treatment of that section 
apply to the trust and its beneficiaries. This one-time election is 
made by filing Form 1041-N. Form 1041-N is used by the ANST to report 
its income, etc., and to compute and pay any income tax. Form 1041-N is 
also used for the special information reporting requirements that apply 
to ANSTs.
    Affected Public: Private sector: Business or other for-profits.
    Estimated Total Burden Hours: 700.

    OMB Number: 1545-1792.
    Type of Review: Extension of a currently approved collection.
    Title: REG-164754-01 (FINAL) Split-Dollar Life Insurance 
Arrangements.
    Abstract: The final regulations provide guidance for loans made 
pursuant to a split-dollar life insurance arrangement. To obtain a 
particular treatment under the regulations for certain split-dollar 
loans, the parties to the loan must make a written representation, 
which must be kept as part of their books and records and a copy filed 
with their federal income tax returns. In addition, if a split-dollar 
loan provides for contingent payments, the lender must produce a 
projected payment schedule for the loan and give the borrower a copy of 
the schedule. This schedule is used by parties to compute their 
interest accruals and any imputed transfers for tax purposes.
    Affected Public: Private sector: Business or other for-profits.
    Estimated Total Burden Hours: 32,500.

    OMB Number: 1545-1919.
    Type of Review: Extension of a currently approved collection.

[[Page 78572]]

    Title: Prior Government Service Information.
    Form: 12854.
    Abstract: This product is used to identify applicants who have had 
prior government services in order to request the OPF from federal 
records and to identify possible pay setting issues.
    Affected Public: Individuals.
    Estimated Total Burden Hours: 6,203.

    OMB Number: 1545-2129.
    Type of Review: Extension of a currently approved collection.
    Title: REG-103146-08--Information Reporting Requirements Under Code 
Sec. 6039.
    Form: 3921, 3922.
    Abstract: Form 3921 is a copy of the information return filed with 
the IRS which transferred shares of stock to a recipient through 
exercise of an incentive stock option under section 422(b). Form 3922 
is used to record a transfer of the legal title of a share of stock 
acquired by the employee where the stock was acquired pursuant to the 
exercise of an option described in section 423(c). REG-103146-08 
reflects the changes to section 6039 of the Internal Revenue Code made 
by section 403 of the Tax Relief and Health Care Act of 2006.
    Affected Public: Private sector: Business or other for-profits.
    Estimated Total Burden Hours: 25,205.

    OMB Number: 1545-2183.
    Type of Review: Extension of a currently approved collection.
    Title: Transfers by Domestic Corporations That Are Subject to 
Section 367(a)(5); Distributions by Domestic Corporations That Are 
Subject to Section 1248(f). (TD 9614 & 9615).
    Abstract: The income tax regulations under section 367(a) reflect 
changes by the Technical and Miscellaneous Corrections Act of 1988. 
Section 367(a)(5) provides that a transfer of assets to a foreign 
corporation in an exchange described in section 361 is subject to 
section 367(a)(1), unless certain ownership requirements and other 
conditions are met.
    Affected Public: Private sector: Business or other for-profits.
    Estimated Total Burden Hours: 3,260.

Robert Dahl,
Treasury PRA Clearance Officer.
[FR Doc. 2014-30376 Filed 12-29-14; 8:45 am]
BILLING CODE 4830-01-P