[Federal Register Volume 81, Number 87 (Thursday, May 5, 2016)]
[Notices]
[Pages 27191-27193]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-10587]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Information Collection; Comment Request

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

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SUMMARY: The Department of the Treasury, as part of its continuing 
effort to reduce paperwork and respondent burden, invites the general 
public and other Federal agencies to take this opportunity to comment 
on proposed and/or continuing information collections, as required by 
the Paperwork Reduction Act of 1995, Public Law 104-13 (44 U.S.C. 
3506(c)(2)(A)).

DATES: Written comments should be received on or before July 5, 2016 to 
be assured of consideration.

ADDRESSES: Direct all written comments to Tuawana Pinkston, Internal 
Revenue Service, Room 6526, 1111 Constitution Avenue NW., Washington, 
DC 20224, or at [email protected].
    Please send separate comments for each specific information 
collection listed below. You must reference the information 
collection's title, form number, reporting or record-keeping 
requirement number, and OMB number (if any) in your comment.

FOR FURTHER INFORMATION CONTACT: To obtain additional information, or 
copies of the information collection and instructions, or copies of any 
comments received, contact Elaine Christophe, at Internal Revenue 
Service, Room 6513, 1111 Constitution Avenue NW., Washington, DC 20224, 
or through the internet, at [email protected].

SUPPLEMENTARY INFORMATION:
Request for Comments
    The Department of the Treasury and the Internal Revenue Service, as 
part of their continuing effort to reduce paperwork and respondent 
burden, invite the general public and other Federal agencies to take 
this opportunity to comment on the proposed or continuing information 
collections listed below in this notice, as required by the Paperwork 
Reduction Act of 1995, (44 U.S.C. 3501 et seq.).

REQUEST FOR COMMENTS: Comments submitted in response to this notice 
will be summarized and/or included in our request for Office of 
Management and Budget (OMB) approval of the relevant information 
collection. All comments will become a matter of public record. Please 
do not include any confidential

[[Page 27192]]

or inappropriate material in your comments.
    We invite comments on: (a) Whether the collection of information is 
necessary for the proper performance of the agency's functions, 
including whether the information has practical utility; (b) the 
accuracy of the agency's estimate of the burden of the collection of 
information; (c) ways to enhance the quality, utility, and clarity of 
the information to be collected; (d) ways to minimize the burden of the 
collection of information on respondents, including the use of 
automated collection techniques or other forms of information 
technology; and (e) estimates of capital or start-up costs and costs of 
operation, maintenance, and purchase of services to provide the 
requested information.
    Currently, the IRS is seeking comments concerning the following 
forms, and reporting and record-keeping requirements:
    1. Title: Form 8871, Political Organization Notice of Section 527 
Status; Form 8453-X, Political Organization Declaration for Electronic 
Filing of Notice of Section 527 Status.
    OMB Number: 1545-1693.
    Form Number: Forms 8871 and 8453-X.
    Abstract: Public Law 106-230 as amended by Public Law 107-276, 
amended Internal Revenue Code section 527(i) to require certain 
political organizations to provide information to the IRS regarding 
their name and address, their purpose, and the names and addresses of 
their officers, highly compensated employees, Board of Directors, and 
related entities within the meaning of section 168(h)(4). Forms 8871 
and 8453-X are used to report this information to the IRS.
    Current Actions: There are no changes being made at this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Not-for-profit institutions.
    Estimated Number of Respondents: 5,000.
    Estimated Time per Respondent: 7 hrs., 2 min.
    Estimated Total Annual Reporting Burden hours: 35,195.
    2. Title: Annual Information Return of Foreign Trust With A U.S. 
owner.
    OMB Number: 1545-0160.
    Form Number: 3520-A.
    Abstract: Internal Revenue Code section 6048(b) requires that 
foreign trusts with at least on U.S. beneficiary must file an annual 
information return. Form 3520-A is used to report the income and 
deductions of the foreign trust and provide statements to the U.S. 
owners and beneficiaries. IRS uses Form 3520-A to determine if the U.S. 
owner of the trust has included the net income of the trust in its 
gross income.
    Current Actions: There are no changes being made to the form at 
this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals or households and business or other 
for-profit organizations.
    Estimated Number of Respondents: 500.
    Estimated Time per Respondent: 43 hrs., 24 min.
    Estimated Total Annual Burden Hours: 21,700.
    3. Title: Information Return for Transfers Associated With Certain 
Personal Benefit Contracts.
    OMB Number: 1545-1702.
    Form Number: 8870.
    Abstract: Section 537 of the Ticket to Work and Work Incentives 
Improvement Act of 1999 added section 170(f)(10) to the Internal 
Revenue Code. Section 170(f)(10)(F) requires an organization to report 
annually: (1) Any premiums paid after February 8, 1999, to which 
section 170(f)(10) applies; (2) the name and taxpayer identification 
number (TIN) of each beneficiary under each contact to which the 
premiums related; and (3) any other information the Secretary of the 
Treasury may require. A charitable organization described in section 
170(c) or a charitable remainder trust described in section 664(d) that 
paid premiums after February 9, 1999, or certain life insurance, 
annuity, and endowment contracts (personal benefit contracts) must 
complete and file Form 8870.
    Current Actions: There are no changes being made to the form at 
this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit institutions.
    Estimated Number of Respondents: 5,000.
    Estimated Time per Respondent: 14 hours, 50 minutes.
    Estimated Total Annual Burden Hours: 74,200.
    4. Title: Generation-Skipping Transfer Tax Return for 
Distributions.
    OMB Number: 1545-1144.
    Form Number: 706-GS(D).
    Abstract: Form 706-GS(D) is used by persons who receive taxable 
distributions from a trust to compute and report the generation-
skipping transfer tax imposed by Internal Revenue Code section 2601. 
IRS uses the information to verify that the tax has been properly 
computed.
    Current Actions: There are no changes being made to the form at 
this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals or households.
    Estimated Number of Respondents: 1,000.
    Estimated Time per Respondent: 59 minutes.
    Estimated Total Annual Burden Hours: 980.
    5. Title: Rewards for Information Relating to Violations of 
Internal Revenue Laws.
    OMB Number: 1545-1534.
    Regulations: REG-252936-96 (TD 8780--final).
    Abstract: The regulations explain the procedure for submitting 
information that relates to violations of the internal revenue laws. 
The regulations also require a person claiming a reward for information 
to provide, in certain circumstances, identification of evidence that 
the person is the proper claimant.
    Current Actions: There are no changes being made to the revenue 
procedure at this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals or households, businesses or other 
for-profit organizations, and not-for-profit institutions.
    Estimated Number of Respondents: 10,000.
    Estimated Time per Respondent: 3 hrs.
    Estimated Total Annual Reporting Burden Hours: 30,000.
    6. Title: Information Return for Transfers Associated With Certain 
Personal Benefit Contracts.
    OMB Number: 1545-1702.
    Form Number: 8870.
    Abstract: Section 537 of the Ticket to Work and Work Incentives 
Improvement Act of 1999 added section 170(f)(10) to the Internal 
Revenue Code. Section 170(f)(10)(F) requires an organization to report 
annually: (1) Any premiums paid after February 8, 1999, to which 
section 170(f)(10) applies; (2) the name and taxpayer identification 
number (TIN) of each beneficiary under each contact to which the 
premiums related; and (3) any other information the Secretary of the 
Treasury may require. A charitable organization described in section 
170(c) or a charitable remainder trust described in section 664(d) that 
paid premiums after February 9, 1999, or certain life insurance, 
annuity, and endowment contracts (personal benefit contracts) must 
complete and file Form 8870.
    Current Actions: There are no changes being made to the form at 
this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit institutions.

[[Page 27193]]

    Estimated Number of Respondents: 5,000.
    Estimated Time per Respondent: 14 hours, 50 minutes.
    Estimated Total Annual Burden Hours: 74,200.
    7. Title: Extended Carryback of Losses to or From a Consolidated 
Group.
    OMB Number: 1545-2171.
    Regulations: TD 9490.
    Abstract: This document contains final and temporary regulations 
under section 1502 that affect corporations filing consolidated 
returns. The regulations contain rules regarding the implementation of 
section 172(b)(1)(H) within a consolidated group. These regulations 
also permit certain acquiring consolidated groups to elect to waive all 
or a portion of the pre-acquisition carryback period pursuant to 
section 172(b)(1)(H) for specific losses attributable to certain 
acquired members.
    Current Actions: There is no change to this existing regulation.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents: 4,000
    Estimated Time per Respondent: 0.25 hours
    Estimated Total Annual Burden Hours: 1,000
    8. Title: Form 990-PF, Return of Private Foundation or Section 
4947(a)(1) Nonexempt charitable Trust Treated as a Private Foundation, 
and Form 4720, return of Certain Excise Taxes on Charities and Other 
Persons Under Chapters 41 and 42 of the Internal revenue Code.
    OMB Number: 1545-0052.
    Form Number: 990-PF and 4720.
    Abstract: Internal Revenue Code section 6033 requires all private 
foundations, including section 4947(a)(1) trusts treated as private 
foundations, to file an annual information return. Section 53.4940-1(a) 
of the Income Tax Regulations requires that the tax on net investment 
income be reported on the return filed under section 6033. Form 990-PF 
is used for this purpose. Section 6011 requires a report of taxes under 
Chapter 42 of the Code for prohibited acts by private foundations and 
certain related parties. Form 4720 is used by foundations and/or 
related persons to report prohibited activities in detail and pay the 
tax on them.
    Current Actions: There are no changes being made to the revenue 
procedure at this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Not-for-profit institutions.
    Estimated Number of Respondents: 55,000.
    Estimated Time per Respondent: 200 hrs., 58 min.
    Estimated Total Annual Reporting Burden Hours: 11,052,594.
    9. Title: Treatment of Shareholders of Certain Passive Foreign 
Investment Companies.
    OMB Number: 1545-1507.
    Regulation Project Number: INTL-656-87 (TD 8701).
    Abstract: The reporting requirements affect United States persons 
that are direct and indirect shareholders of passive foreign investment 
companies (PFICSs). The requirements enable the Internal Revenue 
Service to identify PFICs, United States shareholders, and transactions 
subject to PFIC taxation and verify income inclusions, excess 
distributions, and deferred tax amounts.
    Current Actions: There is no change to this existing regulation.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals, business or other for-profit 
organizations, and not-for-profit institutions.
    Estimated Number of Respondents: 131,250.
    Estimated Time per Respondent: 46 minutes.
    Estimated Total Annual Burden Hours: 100,000.
    10. Title: Credit for New Qualified Alternative Motor Vehicles 
(Qualified Fuel Cell Motor Vehicles).
    OMB Number: 1545-2028.
    Form Number: Notice 2008-33.
    Abstract: This Notice will be used to determine whether the vehicle 
for which the credit is claimed under Sec.  30B by a taxpayer is 
property that qualifies for the credit. The collection of information 
is required to obtain a benefit. The likely respondents are 
corporations and partnerships.
    Current Actions: There is no change in the paperwork burden 
previously approved by OMB.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals and Households, Businesses and other 
for-profit organizations.
    Estimated Number of Respondents: 5.
    Estimated Time per Respondent: 40 hours.
    Estimated Total Annual Burden Hours: 200.
    The following paragraph applies to all of the collections of 
information covered by this notice:
    An agency may not conduct or sponsor, and a person is not required 
to respond to, a collection of information unless the collection of 
information displays a valid OMB control number. Books or records 
relating to a collection of information must be retained as long as 
their contents may become material in the administration of any 
internal revenue law. Generally, tax returns and tax return information 
are confidential, as required by 26 U.S.C. 6103.

    Approved: April 28, 2016.
Tuawana Pinkston,
Supervisory Tax Analyst.
[FR Doc. 2016-10587 Filed 5-4-16; 8:45 am]
 BILLING CODE 4830-01-P