[Federal Register Volume 83, Number 31 (Wednesday, February 14, 2018)]
[Notices]
[Pages 6732-6735]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-03052]


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DEPARTMENT OF THE TREASURY


Agency Information Collection Activities; Submission for OMB 
Review; Comment Request; Multiple IRS Information Collection Requests

AGENCY: Departmental Offices, U.S. Department of the Treasury.

ACTION: Notice.

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SUMMARY: 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, on or after the date of publication of this 
notice. The public is invited to submit comments on these requests.

DATES: Comments should be received on or before March 16, 2018 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 8142, Washington, 
DC 20220, or email at [email protected].

FOR FURTHER INFORMATION CONTACT: Copies of the submissions may be 
obtained from Jennifer Quintana by emailing [email protected], calling 
(202) 622-0489, or viewing the entire information collection request at 
www.reginfo.gov.

SUPPLEMENTARY INFORMATION: 

Internal Revenue Service (IRS)

    Title: Form 1099-C--Cancellation of Debt.
    OMB Control Number: 1545-1424.
    Type of Review: Revision of a currently approved collection.
    Abstract: Form 1099-C is used for reporting canceled debt, as 
required by section 6050P of the Internal Revenue Code. It is used to 
verify that debtors are correctly reporting their income.
    Form: 1099-C.
    Affected Public: Businesses or other for-profits.
    Estimated Total Annual Burden Hours: 1,438,998.

    Title: TD 8746--Amortizable Bond Premium.
    OMB Control Number: 1545-1491.
    Type of Review: Revision of a currently approved collection.
    Abstract: This regulation addresses the tax treatment of bond 
premium. The regulation provides that a holder may make an election to 
amortize bond premium by offsetting interest income with bond premium, 
and the holder must attach a statement to their tax return providing 
certain information. The regulation also provides that a taxpayer may 
receive automatic consent to change its method of accounting for 
premium provided the taxpayer attaches a statement to its tax return. 
The information requested is necessary for the IRS to determine whether 
an issuer or a holder has changed its method of accounting for premium.
    Form: None.
    Affected Public: Businesses or other for-profits.
    Estimated Total Annual Burden Hours: 2,500.

    Title: T.D. 8802--Certain Asset Transfers to a Tax-Exempt Entity.
    OMB Control Number: 1545-1633.
    Type of Review: Extension without change of a currently approved 
collection.
    Abstract: This document contains previously approved 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.
    Form: None.
    Affected Public: Not-for-profit institutions.
    Estimated Total Annual Burden Hours: 125.

    Title: REG-209484-87 (TD 8814 final) Federal Insurance 
Contributions Act (FICA) Taxation of Amounts Under Employee Benefit 
Plans.
    OMB Control Number: 1545-1643.
    Type of Review: Extension without change of a currently approved 
collection.
    Abstract: This previously approved 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.
    Form: None.
    Affected Public: Businesses or other for-profits.
    Estimated Total Annual Burden Hours: 12,500.

    Title: T.D. 8861, Private Foundation Disclosure Rules.
    OMB Control Number: 1545-1655.
    Type of Review: Extension without change of a currently approved 
collection.
    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.
    Form: None.
    Affected Public: Not-for-profit institutions.
    Estimated Total Annual Burden Hours: 32,596.

    Title: Purchase Price Allocations in Deemed Actual Asset 
Acquisitions.
    OMB Control Number: 1545-1658.
    Type of Review: Extension without change of a currently approved 
collection.
    Abstract: TD 8940 contains previously approved 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.
    Form: None.
    Affected Public: Businesses or other for-profits.
    Estimated Total Annual Burden Hours: 25.

    Title: AJCA Modifications to the Section 6112 Regulations.

[[Page 6733]]

    OMB Control Number: 1545-1686.
    Type of Review: Revision of a currently approved collection.
    Abstract: Previously Approved, Section 6112, as amended by the 
American Jobs Creation Act of 2004, Public Law 108-357, 188 Stat. 1418, 
requires that each material advisor with respect to any reportable 
transaction shall maintain (in such manner as the Secretary may by 
regulations prescribe) a list identifying each person with respect to 
whom the advisor acted as a material advisor with respect to the 
transaction and containing other information as the Secretary may, by 
regulations, require. Under Sec.  301.6112-1(a), material advisors are 
required to prepare and maintain a list as described in the regulations 
and are required to furnish the list to the IRS upon written request by 
the IRS. Revenue Procedure 2008-20 provides guidance relating to the 
obligation of material advisors to prepare and maintain lists with 
respect to reportable transactions under Sec.  6112 of the Internal 
Revenue Code. This revenue procedure allows material advisors to use a 
form (Form 13976), available on the Internal Revenue Service website 
for maintaining the itemized statement component of the list under 
Sec.  6112. See section 301.6112-1(b)(3)(i) of the Procedure and 
Administration Regulations. The form is not required to be used by a 
material advisor for that material advisor to comply with the 
requirements of Sec.  301.6112-1, but is offered as an option for 
maintaining the list.
    Form: 13976.
    Affected Public: Businesses or other-for-profits.
    Estimated Total Annual Burden Hours: 50,000.

    Title: Revenue Procedure 2003-84, Optional Election to Make Monthly 
Sec. 706 Allocations.
    OMB Control Number: 1545-1768.
    Type of Review: Extension without change of a currently approved 
collection.
    Abstract: This previously approved 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.
    Form: None.
    Affected Public: Businesses or other-for-profits.
    Estimated Total Annual Burden Hours: 500.

    Title: Revenue Procedure 2014-55, Election Procedures and 
Information Reporting with Respect to Interests in Certain Canadian 
Retirement Plans.
    OMB Control Number: 1545-1773.
    Type of Review: Extension without change of a currently approved 
collection.
    Abstract: Revenue Procedure 2002-23 provides 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, 
published in the Internal Revenue Bulletin dated October 27, 2014.
    Form: None.
    Affected Public: Individuals or Households.
    Estimated Total Annual Burden Hours: 10,000.

    Title: Notice 2002-27--IRA Required Minimum Distribution Reporting.
    OMB Control Number: 1545-1779.
    Type of Review: Extension without change of a currently approved 
collection.
    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.
    Form: None.
    Affected Public: Businesses or other-for-profits.
    Estimated Total Annual Burden Hours: 1,170,000.

    Title: Rev Proc 2002-32 as Modified by Rev Proc 2006-21, Waiver of 
60-month Bar on Reconsolidation after Disaffiliation.
    OMB Control Number: 1545-1784.
    Type of Review: Extension without change of a currently approved 
collection.
    Abstract: This previously approved 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.
    Form: None.
    Affected Public: Businesses or other-for-profits.
    Estimated Total Annual Burden Hours: 100.

    Title: Split-Dollar Life Insurance Arrangements.
    OMB Control Number: 1545-1792.
    Type of Review: Extension without change of a previously approved 
collection.
    Abstract: The previously approved 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.
    Form: None.
    Affected Public: Businesses or other-for-profits.
    Estimated Total Annual Burden Hours: 32,500.

    Title: T.D. 9088, Compensatory Stock Options Under Section 482.
    OMB Control Number: 1545-1794.
    Type of Review: Extension without change of a currently approved 
collection.
    Abstract: T.D. 9088 contains previously approved final regulations 
that provide guidance regarding the application of the rules of section 
482 governing qualified cost sharing arrangements (QCSAs). These 
regulations provide guidance regarding the treatment of stock-based 
compensation for purposes of the rules governing qualified cost sharing 
arrangements and for purposes of the comparability factors to be 
considered under the comparable profits method.
    Form: None.
    Affected Public: Businesses or other-for-profits.
    Estimated Total Annual Burden Hours: 2,000.

    Title: T.D. 9079--Ten or More Employer Plan Compliance Information.
    OMB Control Number: 1545-1795.
    Type of Review: Extension without change of a currently approved 
collection.
    Abstract: This document contains previously approved 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

[[Page 6734]]

employers that provide welfare benefits to employees through a plan to 
which more than one employer contributes.
    Form: None.
    Affected Public: Businesses or other-for-profits.
    Estimated Total Annual Burden Hours: 2,500.

    Title: (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.
    OMB Control Number: 1545-1797.
    Type of Review: Extension without change of a currently approved 
collection.
    Abstract: The previously approved collection of information relates 
to applications for withholding certificates under Treas. Reg. 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 nonrecognition under section 1031.
    Form: None.
    Affected Public: Businesses or other for-profits.
    Estimated Total Annual Burden Hours: 600.

    Title: IRS e-file Electronic Funds Withdrawal Authorization for 
Form 7004.
    OMB Control Number: 1545-1927.
    Type of Review: Extension without change of a currently approved 
collection.
    Abstract: Form 8878-A is used by a corporate officer or agent and 
an electronic return originator (ERO) to use a personal identification 
number (PIN) to authorize an electronic funds withdrawal for a tax 
payment made with a request to extend the filing due date for a 
corporate income tax return.
    Form: 8878-A.
    Affected Public: Businesses or other-for-profits.
    Estimated Total Annual Burden Hours: 505,400.

    Title: T.D. 9248--Residence and Source Rules Involving U.S. 
Possessions and Other Conforming Changes (Final and Temporary).
    OMB Control Number: 1545-1930.
    Type of Review: Extension without change of a currently approved 
collection.
    Abstract: T.D. 9248 contains previously approved 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).
    Form: None.
    Affected Public: Individuals or Households.
    Estimated Total Annual Burden Hours: 300,000.

    Title: TD 9394--Section 1446 Regulations; Form 8804-C--Certificate 
of Partner-Level Items to Reduce Section 1446 Withholding.
    OMB Control Number: 1545-1934.
    Type of Review: Extension without change of a currently approved 
collection.
    Abstract: These previously approved regulations implement 
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. Form 8804-C is 
used by a foreign partner who chooses to provide to a partnership a 
certification under Regulations section 1.1446-6 to reduce or eliminate 
the partnership's withholding tax obligation under section 1446 (1446 
tax) on the partner's allocable share of effectively connected taxable 
income (ECTI) from the partnership.
    Form: 8804-C.
    Affected Public: Businesses or other for-profits.
    Estimated Total Annual Burden Hours: 18,701.

    Title: Notice 2005-41, Guidance Regarding Qualified Intellectual 
Property Contributions.
    OMB Control Number: 1545-1937.
    Type of Review: Extension without change of a currently approved 
collection.
    Abstract: This previously approved notice explains section 
170(e)(1)(B)(iii) and 170(m) as added by section 882 of the American 
Jobs Creation Act of 2004. Under section 170(e)(1)(B)(iii), a donor's 
initial charitable contribution deduction for a gift of qualified 
intellectual property is limited to the lesser of the donor's adjusted 
basis is the property or its fair market value. Under section 170(m), 
the donor may claim additional deduction in subsequent years if the 
property produces income.
    Form: None.
    Affected Public: Businesses or other-for-profits.
    Estimated Total Annual Burden Hours: 30.

    Title: Notification Requirement for Transfer of Partnership 
Interest in Electing Investment Partnership (EIP).
    OMB Control Number: 1545-1939.
    Type of Review: Extension without change of a currently approved 
collection.
    Abstract: The American Jobs Creation Act of 2004, Public Law 108-
357, 118 Stat. 1418 (the Act), was enacted on October 22, 2004. The 
Treasury Department and the Internal Revenue Service intend to issue 
regulations implementing Sec. Sec.  833 and 834 of the Act, which 
amended Sec. Sec.  704, 734, 743, and 6031 of the Internal Revenue 
Code. This previously approved notice provides interim procedures for 
partnerships and their partners to comply with the mandatory basis 
provisions of Sec. Sec.  734 and 743, as amended by the Act. This 
notice also provides interim procedures for electing investment 
partnerships (EIPs) and their partners to comply with Sec. Sec.  743(e) 
and 6031(f), as provided in Sec.  833(b) of the Act.
    Form: None.
    Affected Public: Businesses or other-for-profits.
    Estimated Total Annual Burden Hours: 552,100.

    Title: T.D. 9315 (Final) Dual Consolidated Loss Regulations.
    OMB Control Number: 1545-1946.
    Type of Review: Extension without change of a currently approved 
collection.
    Abstract: This document contains previously approved 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.
    Form: None.
    Affected Public: Businesses or other for-profits.
    Estimated Total Annual Burden Hours: 2,765.

    Title: Excise Tax on Certain Transfers of Qualifying Geothermal or 
Mineral Interests.

[[Page 6735]]

    OMB Control Number: 1545-2099.
    Type of Review: Extension without change of a currently approved 
collection.
    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.
    Form: 8924.
    Affected Public: Businesses or other for-profits.
    Estimated Total Annual Burden Hours: 111.

    Title: Form 3921--Exercise of an Incentive Stock Option Under . . . 
; Form 3922--Transfer of Stock Acquired Through an . . . ; TD 9470--
Information Reporting Requirements Under Code Sec. 6039.
    OMB Control Number: 1545-2129.
    Type of Review: Extension without change of a currently approved 
collection.
    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). Previously approved 
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.
    Forms: 3921, 3922.
    Affected Public: Businesses or other-for-profits.
    Estimated Total Annual Burden Hours: 25,205.

    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).
    OMB Control Number: 1545-2183.
    Type of Review: Extension without change of a currently approved 
collection.
    Abstract: The previously approved 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. TD 9760 contains final regulations under 
sections 367, 1248, and 6038B of the Internal Revenue Code (Code). 
These regulations finalize the elimination of one of two exceptions to 
the coordination rule between asset transfers and indirect stock 
transfers for certain outbound asset reorganizations. The regulations 
also finalize modifications to the exception to the coordination rule 
for section 351 exchanges so that it is consistent with the remaining 
asset reorganization exception. In addition, the regulations finalize 
modifications to the procedures for obtaining relief for failures to 
satisfy certain reporting requirements. Finally, the regulations 
finalize certain changes with respect to transfers of stock or 
securities by a domestic corporation to a foreign corporation in a 
section 361 exchange.
    Form: None.
    Affected Public: Businesses or other for-profits.
    Estimated Total Annual Burden Hours: 3,260.

    Title: Information Reporting by Applicable Large Employers on 
Health Insurance Coverage Offered Under Employer-Sponsored Plans.
    OMB Control Number: 1545-2251.
    Type of Review: Revision of a currently approved collection.
    Abstract: This document contains previously approved regulations 
providing guidance to employers that are subject to the information 
reporting requirements under section 6056 of the Internal Revenue Code, 
enacted by the Patient Protection and Affordable Care Act (Pub. L. 111-
148 (124 Stat.119 (2010)). Section 6056 requires those employers to 
report to the IRS information about their compliance with the employer 
shared responsibility provisions of section 4980H of the Code and about 
the health care coverage, if any, they have offered employees. Section 
6056 also requires those employers to furnish related statements to 
employees in order that employees may use the statements to help 
determine whether, for each month of the calendar year, they can claim 
on their tax returns a premium tax credit under section 36B of the Code 
(premium tax credit).
    Forms: 1094-C, 1095-C, 4424.
    Affected Public: Businesses or other for-profits.
    Estimated Total Annual Burden Hours: 22,600,002.

    Title: Statement of Liability of Lender, Surety, or Other Person 
for Withholding Taxes.
    OMB Control Number: 1545-2254.
    Type of Review: Extension without change of a currently approved 
collection.
    Abstract: Third parties who directly pay another's payrolls can be 
held liable for the full amount of taxes required to be withheld but 
not paid to the Government (subject to the 25% limitation). IRC 3505 
deals with persons who supply funds to an employer for the purpose of 
paying wages. The notification that a third party is paying or 
supplying wages will usually be made by filing of the Form 4219, 
Statement of Liability of Lender, Surety, or Other Person for 
Withholding Taxes. The Form 4219, Statement of Liability of Lender, 
Surety, or Other Person for Withholding Taxes, is to be submitted and 
associated with each employer and for every calendar quarter for which 
a liability under section 3505 is incurred.
    Form: 4291.
    Affected Public: Businesses or other for-profits, Farms, Not-for-
profit institutions.
    Estimated Total Annual Burden Hours: 12,833.

    Title: Safe Harbor for Inadvertent Normalization Violations.
    OMB Control Number: 1545-2276.
    Type of Review: Extension without change of a currently approved 
collection.
    Abstract: Revenue Procedure 2017-47 provides a safe harbor that 
allows a utility taxpayer that inadvertently uses a practice or 
procedure that is inconsistent with the normalization rules (such as 
failure to use the proration methodology) to correct that practice or 
procedure at the next available opportunity and be considered not to 
have violated the normalization rules by their inadvertent error 
without requiring the taxpayer to obtain a private letter ruling from 
the Service regarding the inadvertent error.
    Form: None.
    Affected Public: Businesses or other for-profits.
    Estimated Total Annual Burden Hours: 1,800.


    Authority:  44 U.S.C. 3501 et seq.

    Dated: February 9, 2018.
Jennifer P. Quintana,
Treasury PRA Clearance Officer.
[FR Doc. 2018-03052 Filed 2-13-18; 8:45 am]
 BILLING CODE 4830-01-P