[Federal Register Volume 80, Number 17 (Tuesday, January 27, 2015)]
[Notices]
[Page 4333]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-01389]


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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

January 22, 2015.
    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 February 26, 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: 1545-0216.
    Type of Review: Reinstatement without change of a previously 
approved collection.
    Title: International Boycott Report.
    Form: 5713.
    Abstract: Form 5713 and related Schedules A, B, and C are used by 
any entity that has operations in a ``boycotting'' country. If that 
entity cooperates with or participates in an international boycott it 
loses a portion of the foreign tax credit, or deferral of FSC and IC-
DISC benefits. The IRS uses Form 5713 to determine if any of the above 
benefits should be lost. The information is also used as the basis for 
a report to Congress.
    Affected Public: Private Sector: Businesses or other for-profits.
    Estimated Annual Burden Hours: 69,495.

    OMB Number: 1545-1421.
    Type of Review: Reinstatement without change of a previously 
approved collection.
    Title: Certain Elections Under the Omnibus Budget Reconciliation 
Act of 1993 (TD 8688-final).
    Abstract: These regulations establish various elections enacted by 
the Omnibus Budget Reconciliation Act of 1993 (Act). The regulations 
provide guidance that enable taxpayers to take advantage of various 
benefits provided by the Act and the Internal Revenue Code.
    Affected Public: Private Sector: Businesses or other for-profits.
    Estimated Annual Burden Hours: 202,500.

    OMB Number: 1545-1590.
    Type of Review: Reinstatement without change of a previously 
approved collection.
    Title: REG-251698-96 (TD 8869--Final) Subchapter S Subsidiaries.
    Abstract: The IRS will use the information provided by taxpayers to 
determine whether a corporation should be treated as an S corporation, 
a C Corporation, or an entity that is disregarded for federal tax 
purposes. The collection of information covered in the regulation is 
necessary for a taxpayer to obtain, retain, or terminate S corporation 
treatment.
    Affected Public: Private Sector: Businesses or other for-profits.
    Estimated Annual Burden Hours: 10,110.

    OMB Number: 1545-1647.
    Type of Review: Reinstatement without change of a previously 
approved collection.
    Title: Revenue Procedure 2001-21, Debt Roll-Ups.
    Abstract: This revenue procedure provides for an election that will 
facilitate the consolidation of two or more outstanding debt 
instruments into a single debt instrument. Under the election, 
taxpayers can treat certain exchanges of debt instruments as 
realization events for federal income tax purposes even though the 
exchanges do not result in significant modifications under section 
1.1001-33 of the Income Tax Regulations.
    Affected Public: Private Sector: Businesses and other for-profits.
    Estimated Annual Burden Hours: 75.

Dawn D. Wolfgang,
Treasury PRA Clearance Officer.
[FR Doc. 2015-01389 Filed 1-26-15; 8:45 am]
BILLING CODE 4830-01-P