[Federal Register Volume 85, Number 61 (Monday, March 30, 2020)]
[Notices]
[Pages 17618-17620]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-06581]


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

DEPARTMENT OF THE TREASURY


Agency Information Collection Activities; Submission for OMB 
Review; Comment Request; Multiple Internal Revenue Service Information 
Collection Requests

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

ACTION: Notice.

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

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 April 29, 2020 to be 
assured of consideration.

ADDRESSES: Written comments and recommendations for the proposed 
information collection should be sent within 30 days of publication of 
this notice to www.reginfo.gov/public/do/PRAMain. Find this particular 
information collection by selecting ``Currently under 30-day Review--
Open for Public Comments'' or by using the search function.

FOR FURTHER INFORMATION CONTACT: Copies of the submissions may be 
obtained from Spencer W. Clark by emailing [email protected], calling 
(202) 927-5331, or viewing the entire information collection request at 
www.reginfo.gov.

SUPPLEMENTARY INFORMATION:

Internal Revenue Service (IRS)

    1. Title: Wage and Tax Statements W-2/W-3 Series.
    OMB Control Number: 1545-0008.
    Type of Review: Extension without change of a currently approved 
collection.
    Description: Section 6051 of the Internal Revenue Code requires 
employers to furnish income and withholding statements to employees and 
to the IRS. Employers report income and withholding information on Form 
W-2. Forms W-2AS, W-2GU, and W-2VI are variations of the W-2 for use in 
U.S. possessions. The W-3 series forms transmit W-2 series forms to SSA 
for processing. The W-2C and W-3C series are used to correct previously 
filed forms.
    Form: W-2, W-2C, W-2AS, W-2GU, W-2VI, W-3, W-3C, W-3CPR, W-3PR, W-
3SS.
    Affected Public: Businesses or other for-profits.
    Estimated Number of Respondents: 254,230,608.
    Frequency of Response: Annually.
    Estimated Total Number of Annual Responses: 254,230,608.
    Estimated Time per Response: Varies by form from 24-54 minutes.
    Estimated Total Annual Burden Hours: 126,988,903.
    2. Title: Application to Adopt, Change, or Retain a Tax Year (Form 
1128).
    OMB Control Number: 1545-0134.
    Type of Review: Extension without change of a currently approved 
collection.
    Description: Form 1128 is needed in order to process taxpayers' 
request to change their tax year. All information requested is used to 
determine whether the application should be approved.
    Form: 1128.
    Affected Public: Estates, tax-exempt organizations, and 
cooperatives.
    Estimated Number of Respondents: 9,788.
    Frequency of Response: On occasion.
    Estimated Total Number of Annual Responses: 9,788.

[[Page 17619]]

    Estimated Time per Response: 23 hours 43 minutes.
    Estimated Total Annual Burden Hours: 232,066.
    3. Title: Application for Extension of Time to File a Return and/or 
Pay U.S. Estate (and Generation-Skipping Transfer) Taxes.
    OMB Control Number: 1545-0181.
    Type of Review: Revision of a currently approved collection.
    Description: Form 4768 is used by estates to request an extension 
of time to file an estate (and Generation-Skipping Transfer) tax return 
and/or to pay the estate (and GST) taxes and to explain why the 
extension should be granted. IRS uses the information to decide whether 
the extension should be granted.
    Form: 4768.
    Affected Public: Estates.
    Estimated Number of Respondents: 18,500.
    Frequency of Response: On occasion.
    Estimated Total Number of Annual Responses: 18,500.
    Estimated Time per Response: 1 hour 10 minutes.
    Estimated Total Annual Burden Hours: 27,565.
    4. Title: Information Returns with respect to Energy Grants and 
Financing.
    OMB Control Number: 1545-0232.
    Type of Review: Extension without change of a currently approved 
collection.
    Description: Section 6050D of the Internal Revenue Code requires an 
information return to be made by any person who administers a Federal, 
state, or local program providing nontaxable grants or subsidized 
energy financing. Form 6497 is used for making the information return. 
The IRS uses the information from the form to ensure that recipients 
have not claimed tax credits or other benefits with respect to the 
grants or subsidized financing.
    Form: 6497.
    Affected Public: Businesses or other for-profits.
    Estimated Number of Respondents: 250.
    Frequency of Response: Annually.
    Estimated Total Number of Annual Responses: 250.
    Estimated Time per Response: 1 hour 15 minutes.
    Estimated Total Annual Burden Hours: 810.
    5. Title: Gas Guzzler Tax.
    OMB Control Number: 1545-0242.
    Type of Review: Extension without change of a currently approved 
collection.
    Description: Form 6197 is used to compute the gas guzzler tax on 
automobiles whose fuel economy does not meet certain standard for fuel 
economy. The tax is reported quarterly of Form 720. Form 6197 is filed 
each quarter with Form 720 for manufacturers. Individuals can make a 
one-time filing if they import a gas guzzler auto for personal use. The 
IRS uses the information to verify computation of the tax and 
compliance with the law.
    Form: 6197.
    Affected Public: Businesses or other for-profits.
    Estimated Number of Respondents: 605.
    Frequency of Response: On occasion.
    Estimated Total Number of Annual Responses: 605.
    Estimated Time per Response: 7 hours 42 minutes.
    Estimated Total Annual Burden Hours: 4,659.
    6. Title: Return for Nuclear Decommissioning Funds and Certain 
Related Persons.
    OMB Control Number: 1545-0954.
    Type of Review: Extension without change of a currently approved 
collection.
    Description: A nuclear utility files Form 1120-ND to report the 
income and taxes of a fund set up by the public utility to provide cash 
for the dismantling of the nuclear power plant. The IRS uses Form 1120-
ND to determine if the fund income taxes are correctly computed and if 
a person related to the fund or the nuclear utility must pay taxes on 
self-dealing.
    Form: 1120-ND.
    Affected Public: Businesses or other for-profits.
    Estimated Number of Respondents: 100.
    Frequency of Response: Annually.
    Estimated Total Number of Annual Responses: 100.
    Estimated Time per Response: 32 hours 35 minutes.
    Estimated Total Annual Burden Hours: 3,259.
    7. Title: Return of Excise Tax on Undistributed Income of Real 
Estate Investment Trusts.
    OMB Control Number: 1545-1013.
    Type of Review: Extension without change of a currently approved 
collection.
    Description: Form 8612 is used by real estate investment trusts to 
compute and pay the excise tax on undistributed income imposed under 
section 4981. IRS uses the information to verify that the correct 
amount of tax has been reported.
    Form: 8612.
    Affected Public: Businesses or other for-profits.
    Estimated Number of Respondents: 20.
    Frequency of Response: On occasion.
    Estimated Total Number of Annual Responses: 20.
    Estimated Time per Response: 9 hours 48 minutes.
    Estimated Total Annual Burden Hours: 196.
    8. Title: Annual Certification of a Qualified Residential Rental 
Project.
    OMB Control Number: 1545-1038.
    Type of Review: Extension without change of a currently approved 
collection.
    Description: Operators of qualified residential projects will use 
this form to certify annually that their projects meet the requirements 
of IRC section 142(d). Operators are required to file this 
certification under section 142(d)(7). Operators must indicate on the 
form the specific ``set-aside'' test the bond issuer elected under 26 
U.S.C. Section 142(d) for the project period. They must also indicate 
the percentage of low-income units in the residential rental project.
    Form: 8703.
    Affected Public: Businesses or other for-profits.
    Estimated Number of Respondents: 6,000.
    Frequency of Response: Annually.
    Estimated Total Number of Annual Responses: 6,000.
    Estimated Time per Response: 12 hours 46 minutes.
    Estimated Total Annual Burden Hours: 76,620.
    9. Title: U.S. Estate Tax Return for Qualified Domestic Trusts.
    OMB Control Number: 1545-1212.
    Type of Review: Extension without change of a currently approved 
collection.
    Description: Form 706-QDT is used by the trustee or the designated 
filer to compute and report the Federal estate tax imposed on qualified 
domestic trusts by C section 2056A. IRS uses the information to enforce 
this tax and to verify that the tax has been properly computed.
    Form: 706-QDT.
    Affected Public: Estates.
    Estimated Number of Respondents: 80.
    Frequency of Response: Annually.
    Estimated Total Number of Annual Responses: 80.
    Estimated Time per Response: 4 hours 28 minutes.
    Estimated Total Annual Burden Hours: 357.
    10. Title: Proceeds of Bonds Used for Reimbursement--FI-59-89 (TD 
8394-Final).
    OMB Control Number: 1545-1226.
    Type of Review: Extension without change of a currently approved 
collection.

[[Page 17620]]

    Description: This regulation clarifies when the allocation of bond 
proceeds to reimburse expenditures previously made by an issuer of the 
bond is treated as an expenditure of the bond proceeds. The issuer must 
express a reasonable official intent, on or prior to the date of 
payment, to reimburse the expenditure in order to assure that the 
reimbursement is not a device to evade requirements imposed by the 
Internal Revenue Code with respect to tax exempt bonds.
    Form: None.
    Affected Public: State, Local and Tribal Governments.
    Estimated Number of Respondents: 2,500.
    Frequency of Response: On occasion.
    Estimated Total Number of Annual Responses: 2,500.
    Estimated Time per Response: 2 hours 24 minutes.
    Estimated Total Annual Burden Hours: 6,000.

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

    Dated: March 25, 2020.
Spencer W. Clark,
Treasury PRA Clearance Officer.
[FR Doc. 2020-06581 Filed 3-27-20; 8:45 am]
 BILLING CODE 4830-01-P