[Federal Register Volume 83, Number 231 (Friday, November 30, 2018)]
[Notices]
[Pages 61722-61726]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-26039]


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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 December 31, 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 Leonard 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: Notice Concerning Fiduciary Relationship/Notice Concerning 
Fiduciary Relationship of Financial Institution.
    OMB Control Number: 1545-0013.
    Type of Review: Extension without change of a currently approved 
collection.
    Description: Form 56 is used to inform the IRS that a person in 
acting for another person in a fiduciary capacity so that the IRS may 
mail tax notices to the fiduciary concerning the person for whom he/she 
is acting. The data is used to ensure that the fiduciary relationship 
is established or terminated and to mail or discontinue mailing 
designated tax notices to the fiduciary. The filing of Form 56-F by a 
fiduciary (FDIC or other federal agency acting as a receiver or 
conservator of a failed financial institution (bank or thrift) gives 
the IRS the necessary information to submit send letters, notices, and 
notices of tax liability to the federal fiduciary now in charge of the 
financial institution rather than sending the notice, etc. to the 
institution's last known address.
    Form: 56, 56-F.
    Affected Public: Businesses or other for-profits.
    Estimated Number of Respondents: 25,000.

[[Page 61723]]

    Frequency of Response: On occasion.
    Estimated Total Number of Annual Responses: 173,944.
    Estimated Time per Response: 2.01 hours.
    Estimated Total Annual Burden Hours: 349,786.

    Title: Annual Summary and Transmittal of U.S. Information Returns.
    OMB Control Number: 1545-0108.
    Type of Review: Extension without change of a currently approved 
collection.
    Description: Sections 408(i), 6041 through 6045, 6047, 6049, 6050A, 
6050B, 6050D, 6050E, 6050H, 6050J, 6050N, and 6050P of the Internal 
Revenue Code (IRC), provide for the filing of information returns to 
report the payment of certain types of income, mortgage interest, and 
IRA contributions. Regulation section 1.6041-1(a)(2) provides that the 
transmittal of paper Form 1097, 1098, 1098-F, 1099, 1099-LS, 1099-SB, 
3921, 3922, 5498, and W-2G shall be made with Form 1096, Annual Summary 
and Transmittal of U.S. Information Returns.
    Form: 1096.
    Affected Public: Businesses or other for-profits.
    Estimated Number of Respondents: 5,640,300.
    Frequency of Response: Annually.
    Estimated Total Number of Annual Responses: 5,640,300.
    Estimated Time per Response: .23 hours.
    Estimated Total Annual Burden Hours: 1,297,269.

    Title: Certain Government Payments.
    OMB Control Number: 1545-0120.
    Type of Review: Extension without change of a currently approved 
collection.
    Description: Form 1099-G is used by governments (primarily state 
and local) to report to the IRS (and notify recipients of) certain 
payments (e.g., unemployment compensation and income tax refunds). IRS 
uses the information to insure that the income is being properly 
reported by the recipients on their returns.
    Form: 1099-G.
    Affected Public: State, Local, and Tribal Governments.
    Estimated Number of Respondents: 1,900.
    Frequency of Response: Annually.
    Estimated Total Number of Annual Responses: 82,364,600.
    Estimated Time per Response: .30 hours.
    Estimated Total Annual Burden Hours: 24,709,380.

    Title: Form W-2G--Certain Gambling Winnings.
    OMB Control Number: 1545-0238.
    Type of Review: Revision of a currently approved collection.
    Description: 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.
    Form: W-2G, W-2.
    Affected Public: Individuals or Households.
    Estimated Number of Respondents: 15,349,567.
    Frequency of Response: On occasion.
    Estimated Total Number of Annual Responses: 15,349,567.
    Estimated Time per Response: .41 hours.
    Estimated Total Annual Burden Hours: 6,293,323.

    Title: Returns Required on Magnetic Media.
    OMB Control Number: 1545-0957.
    Type of Review: Extension without change of a currently approved 
collection.
    Description: Certain filers of information returns are required by 
law to file on magnetic media. In some instances, waivers from this 
requirement are necessary and justified. Form 8508 is submitted by the 
filer and provides information on which IRS will base its waiver 
determination.
    Form: 8508.
    Affected Public: Businesses or other for-profits.
    Estimated Number of Respondents: 1,000.
    Frequency of Response: On occasion.
    Estimated Total Number of Annual Responses: 1,000.
    Estimated Time per Response: Time per response.
    Estimated Total Annual Burden Hours: 750.

    Title: Form 1099-S--Proceeds From Real Estate Transactions.
    OMB Control Number: 1545-0997.
    Type of Review: Extension without change of a currently approved 
collection.
    Description: Form 1099-S is used by the real estate reporting 
person to report proceeds from a real estate transaction to the IRS.
    Form: 1099-S.
    Affected Public: Businesses or other for-profits.
    Estimated Number of Respondents: 75,000.
    Frequency of Response: Annually.
    Estimated Total Number of Annual Responses: 2,573,400.
    Estimated Time per Response: .16 hours.
    Estimated Total Annual Burden Hours: 411,744.

    Title: Form 8693--Low-Income Housing Credit Disposition Bond or 
Treasury Direct Account Application.
    OMB Control Number: 1545-1029.
    Type of Review: Extension without change of a currently approved 
collection.
    Description: Form 8693 is needed per IRC section 42(j)(6) to post 
bond or establish a Treasury Direct Account and waive the recapture 
requirements under section 42(j) for certain disposition of a building 
on which the low-income housing credit was claimed. Internal Revenue 
regulations section 301.7101-1 requires that the posting of a bond must 
be done on the appropriate form as determined by the Internal Revenue 
Service.
    Form: 8693.
    Affected Public: Businesses or other for-profits.
    Estimated Number of Respondents: 1,000.
    Frequency of Response: On occasion.
    Estimated Total Number of Annual Responses: 667.
    Estimated Time per Response: 5.38 hours.
    Estimated Total Annual Burden Hours: 3,589.

    Title: TD 8316 Cooperative Housing Corporations.
    OMB Control Number: 1545-1041.
    Type of Review: Extension without change of a currently approved 
collection.
    Description: This document contains previously approved amendments 
to the Income Tax Regulations under section 216 of the Internal Revenue 
Code of 1986, relating to cooperative housing corporations. Section 216 
of the Code was amended by the Tax Reform Act of 1986. The regulations 
provide cooperative housing corporations and tenant-stockholders with 
guidance needed to comply with the law.
    Form: None.
    Affected Public: Businesses or other for-profits.
    Estimated Number of Respondents: 2,500.
    Frequency of Response: Annually.
    Estimated Total Number of Annual Responses: 2,500.
    Estimated Time per Response: .5 hours.
    Estimated Total Annual Burden Hours: 1,250.

    Title: Notice of Plan Merger or Consolidation, Spinoff, or Transfer 
of Plan Assets or Liabilities; Notice of Qualified Separate Lines of 
Business.
    OMB Control Number: 1545-1225.
    Type of Review: Revision of a currently approved collection.

[[Page 61724]]

    Description: Plan administrators are required to notify IRS of any 
plan mergers, consolidations, spinoffs, or transfers of plan assets or 
liabilities to another plan. Employers are required to notify IRS of 
separate lines of business for their deferred compensation plans. Form 
5310-A is used to make these notifications.
    Form: 5310-A.
    Affected Public: Businesses or other for-profits.
    Estimated Number of Respondents: 694.
    Frequency of Response: On occasion.
    Estimated Total Number of Annual Responses: 694.
    Estimated Time per Response: 10.59 hours.
    Estimated Total Annual Burden Hours: 7,347.

    Title: Tax Treatment of Salvage and Reinsurance.
    OMB Control Number: 1545-1227.
    Type of Review: Extension without change of a currently approved 
collection.
    Description: The regulation provides a disclosure requirement for 
an insurance company that increases losses shown on its annual 
statement by the amount of estimated salvage recoverable taken into 
account.
    Form: None.
    Affected Public: Businesses or other for-profits.
    Estimated Number of Respondents: 2,500.
    Frequency of Response: Annually.
    Estimated Total Number of Annual Responses: 2,500.
    Estimated Time per Response: 2 hours.
    Estimated Total Annual Burden Hours: 5,000.

    Title: TD 8825 (Final)--Regulations Under Section 382 of the 
Internal Revenue Code of 1986; Application of Section 382 in Short 
Taxable Years and With Respect to Controlled Groups.
    OMB Control Number: 1545-1434.
    Type of Review: Extension without change of a currently approved 
collection.
    Description: Section 382 limits the amount of income that can be 
offset by loss carryovers after an ownership change. These previously 
approved regulations provide rules for applying section 382 in the case 
of short taxable years and with respect to controlled groups.
    Form: None.
    Affected Public: Businesses or other for-profits.
    Estimated Number of Respondents: 3,500.
    Frequency of Response: Annually.
    Estimated Total Number of Annual Responses: 3,500.
    Estimated Time per Response: .25 hours.
    Estimated Total Annual Burden Hours: 875.

    Title: Requirements Respecting the Adoption or Change of Accounting 
Method, Extensions of Time to Make Elections.
    OMB Control Number: 1545-1488.
    Type of Review: Extension without change of a currently approved 
collection.
    Description: This document contains previously approved 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.
    Form: None.
    Affected Public: Businesses or other for-profits.
    Estimated Number of Respondents: 500.
    Frequency of Response: On occasion.
    Estimated Total Number of Annual Responses: 500.
    Estimated Time per Response: 10 hours.
    Estimated Total Annual Burden Hours: 5,000.

    Title: Form 8850--Pre-Screening Notice and Certification Request 
for the Work Opportunity and Welfare-to-Work Credits.
    OMB Control Number: 1545-1500.
    Type of Review: Extension without change of a currently approved 
collection.
    Description: Employers use Form 8850 as part of a written request 
to a state employment security agency to certify an employee as a 
member of a targeted group for purposes of qualifying for the work 
opportunity credit. The work opportunity credit covers individuals who 
begin work for the employer before July 1, 1999.
    Form: 8850.
    Affected Public: Businesses or other for-profits.
    Estimated Number of Respondents: 440,000.
    Frequency of Response: Annually.
    Estimated Total Number of Annual Responses: 440,000.
    Estimated Time per Response: 7.37 hours.
    Estimated Total Annual Burden Hours: 3,242,800.

    Title: Long-Term Care and Accelerated Death Benefits.
    OMB Control Number: 1545-1519.
    Type of Review: Revision of a currently approved collection.
    Description: 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. Form 1099-LTC is used if any long-term 
care benefits, including accelerated death benefits are paid. Payers 
include insurance companies, governmental units, and viatical 
settlement providers.
    Form: 1099 LTC.
    Affected Public: Businesses or other for-profits.
    Estimated Number of Respondents: 3,000.
    Frequency of Response: Annually.
    Estimated Total Number of Annual Responses: 377,467.
    Estimated Time per Response: .23 hours.
    Estimated Total Annual Burden Hours: 88,818.

    Title: REG-209823-96 (TD 8791)--Guidance Regarding Charitable 
Remainder Trusts and Special Valuation Rules for Transfer of Interests 
in Trusts.
    OMB Control Number: 1545-1536.
    Type of Review: Extension without change of a currently approved 
collection.
    Description: A charitable remainder trust provides for a specified 
periodic distribution to one or more beneficiaries for life or for a 
term of years with an irrevocable remainder interest held for the 
benefit of charity. A contribution to a charitable remainder trust 
generally qualifies for a charitable deduction. Regulation REG-209823-
96 provides an alternative method and guidance, allowing a taxpayer to 
use a current qualified appraisal (as defined in Sec.  1.170A-13(c)(3)) 
from a qualified appraiser (as defined in Sec.  1.170A-13(c)(5)) for 
valuing a trust's difficult-to-value assets, which may reduce cost to 
taxpayer and offer be less burdensome. Likely respondents are business 
or other for profits.
    Form: None.
    Affected Public: Businesses or other for-profits.
    Estimated Number of Respondents: 150.
    Frequency of Response: Annually.
    Estimated Total Number of Annual Responses: 150.
    Estimated Time per Response: .5 hours.
    Estimated Total Annual Burden Hours: 75.


[[Page 61725]]


    Title: Rev. Proc. 99-17--Mark to Market Election for Commodities 
Dealers and Securities and Commodities Traders.
    OMB Control Number: 1545-1641.
    Type of Review: Extension without change of a currently approved 
collection.
    Description: The revenue procedure prescribes the time and manner 
for dealers in commodities and traders in securities or commodities to 
elect to use the mark-to-market method of accounting under Sec. 475(e) 
or (f) of the Internal Revenue Code. The collections of information of 
this revenue procedure are required by the IRS in order to facilitate 
monitoring taxpayers changing accounting methods resulting from making 
the elections under Sec. 475(e) or (f).
    Form: None.
    Affected Public: Businesses or other for-profits.
    Estimated Number of Respondents: 1,000.
    Frequency of Response: Annually.
    Estimated Total Number of Annual Responses: 1,000.
    Estimated Time per Response: .5 hours.
    Estimated Total Annual Burden Hours: 500.

    Title: Form 8717 and 8717-A--User Fee for Employee Plan 
Determination Letter Request.
    OMB Control Number: 1545-1772.
    Type of Review: Revision of a currently approved collection.
    Description: The Omnibus Reconciliation Act of 1990 requires 
payment of a ``user fee'' with each application for a determination 
letter. Because of this requirement, the Form 8717 was created to 
provide filers the means to make payment and indicate the type of 
request.
    Form: 8717, 8717-A.
    Affected Public: Businesses or other for-profits.
    Estimated Number of Respondents: 40,000.
    Frequency of Response: On occasion.
    Estimated Total Number of Annual Responses: 40,000.
    Estimated Time per Response: 11.23 hours.
    Estimated Total Annual Burden Hours: 449,340.

    Title: User Fee for Exempt Organization Determination Letter 
Request.
    OMB Control Number: 1545-1798.
    Type of Review: Extension without change of a currently approved 
collection.
    Description: 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.
    Form: 8718.
    Affected Public: Businesses or other for-profits.
    Estimated Number of Respondents: 14,376.
    Frequency of Response: On occasion.
    Estimated Total Number of Annual Responses: 14,376.
    Estimated Time per Response: .05 hours.
    Estimated Total Annual Burden Hours: 719.

    Title: Interest Rates and Appropriate Foreign Loss Payment Patterns 
For Determining the Qualified Insurance Income of Certain Controlled 
Corporations under Section 954(f).
    OMB Control Number: 1545-1799.
    Type of Review: Extension without change of a currently approved 
collection.
    Description: This notice provide guidance on how to determine the 
foreign loss payment patterns of a foreign insurance company owned by 
U.S. shareholder for purposes of determining the amount of investment 
income earned by the insurance company that is not treated as Subpart F 
income under section 954(i).
    Form: None.
    Affected Public: Businesses or other for-profits.
    Estimated Number of Respondents: 300.
    Frequency of Response: Annually.
    Estimated Total Number of Annual Responses: 300.
    Estimated Time per Response: 1 hour.
    Estimated Total Annual Burden Hours: 300.

    Title: Repayment of a Federal Government Buyout and Possible 
Suspension of Severance Pay.
    OMB Control Number: 1545-1920.
    Type of Review: Extension without change of a currently approved 
collection.
    Description: Form 12311 outlines the regulations requiring those 
employees being rehired by the government and received a buyout from 
their previous job to make repayment of the buyout before they will be 
hired again.
    Form: 12311.
    Affected Public: Individuals or Households.
    Estimated Number of Respondents: 6,624.
    Frequency of Response: On occasion.
    Estimated Total Number of Annual Responses: 6,624.
    Estimated Time per Response: .08 hours.
    Estimated Total Annual Burden Hours: 530.

    Title: TD 9360 (Final)--Guidance on Passive Foreign Company (PFIC) 
Purging Elections.
    OMB Control Number: 1545-1965.
    Type of Review: Extension without change of a currently approved 
collection.
    Description: The IRS needs the information to substantiate the 
taxpayer's computation of the taxpayer's share of the PFIC's post-1986 
earning and profits.
    Form: None.
    Affected Public: Individuals or Households.
    Estimated Number of Respondents: 250.
    Frequency of Response: Annually.
    Estimated Total Number of Annual Responses: 250.
    Estimated Time per Response: 1 hour.
    Estimated Total Annual Burden Hours: 250.

    Title: Form 8932--Credit for Employer Differential Wage Payments.
    OMB Control Number: 1545-2126.
    Type of Review: Extension without change of a currently approved 
collection.
    Description: Qualified employers will file Form 8932 to claim the 
credit for qualified differential wage payments paid to qualified 
employees after June 17, 2008, and before January 1, 2010. Authorized 
under I.R.C. section 45P.
    Form: 8932.
    Affected Public: Businesses or other for-profits.
    Estimated Number of Respondents: 21,100.
    Frequency of Response: Annually.
    Estimated Total Number of Annual Responses: 21,100.
    Estimated Time per Response: 2.96 hours.
    Estimated Total Annual Burden Hours: 62,456.

    Title: Form 5884-C--Work Opportunity Credit for Qualified Tax-
Exempt Organizations Hiring Qualified Veterans.
    OMB Control Number: 1545-2226.
    Type of Review: Extension without change of a currently approved 
collection.
    Description: Form 5884-C, Work Opportunity Credit for Qualified 
Tax-

[[Page 61726]]

Exempt Organizations Hiring Qualified Veterans, was developed as a 
result of VOW to Hire Heroes Act of 2011, Public Law 112-56. Section 
261 of Public Law 112-56 expanded the Work Opportunity Credit to tax-
exempt organizations that hire unemployed veterans. The tax credit is a 
reduction in payroll taxes paid by the tax-exempt organization. Form 
5884-C allows a tax-exempt organization a way to claim the credit and 
provides the IRS the information to process the tax credit.
    Form: 5884-C.
    Affected Public: Not-for-profit institutions.
    Estimated Number of Respondents: 60,530.
    Frequency of Response: Annually and On occasion.
    Estimated Total Number of Annual Responses: 60,530.
    Estimated Time per Response: 6.57 hours.
    Estimated Total Annual Burden Hours: 397,683.

    Title: Form 8957--Foreign Account Tax Compliance Act (FATCA) 
Registration, Form 8966--FATCA Report, 8966-C, Cover Sheet for Form 
8966 Paper Submissions, Form 8809-I--Application for Extension of Time 
to File.
    OMB Control Number: 1545-2246.
    Type of Review: Revision of a currently approved collection.
    Description: Form 8957 is to be used by a foreign financial 
institution to apply for status as a foreign financial institution as 
defined in IRC 1471(b)(2). Form 8966 is for reporting purposes and is 
to be filed by foreign financial institutions to report foreign 
reportable amounts paid to their current account holders that are 
nonparticipating FFIs. Form 8966 is further to be filed by a 
withholding agent to report US owners of certain foreign entities 
regarding withhold-able payments made to these entities. Form 8809-I is 
an application for an extension of time to file Form 8966. Form 8508-I 
is a request for a waiver from filing Form 8966 electronically. Form 
8966-C is a cover sheet for those submitting a paper version of Form 
8966.
    Form: 8957, 8966, 8966-C, 8809-I, 8508 I.
    Affected Public: Businesses or other for profits.
    Estimated Number of Respondents: 5,561,180.
    Frequency of Response: Annually.
    Estimated Total Number of Annual Responses: 5,561,180.
    Estimated Time per Response: Form 8957: 8.14 hours; Form 8966: .42 
hours; Form 8966-C: .12 hours; Form 8809-I: 3.36 hours; Form 8508 I: 
4.29 hours.
    Estimated Total Annual Burden Hours: 2,912,282 hours.

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

    Dated: November 27, 2018.
Jennifer P. Quintana,
Treasury PRA Clearance Officer.
[FR Doc. 2018-26039 Filed 11-29-18; 8:45 am]
 BILLING CODE 4830-01-P