[Federal Register Volume 85, Number 147 (Thursday, July 30, 2020)]
[Notices]
[Pages 45956-45958]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-16480]



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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.

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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 August 31, 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 Molly Stasko by emailing [email protected], calling (202) 
622-8922, or viewing the entire information collection request at 
www.reginfo.gov.

SUPPLEMENTARY INFORMATION:

Internal Revenue Service (IRS)

    1. Title: Form 940, Employer's Annual Federal Unemployment (FUTA) 
Tax Return.
    OMB Control Number: 1545-0028.
    Type of Review: Extension without change of a currently approved 
collection.
    Description: Internal Revenue Code Section 3301 imposes a tax on 
employers based on the first $7,000 of taxable annual wages paid to 
each employee. IRS uses the information reported on Forms 940 and 940-
PR (Puerto Rico) to ensure that employers have reported and figured the 
correct FUTA wages and tax.
    Form: Form 940, Form 940-PR.
    Affected Public: Businesses or other for-profit organizations, 
Individuals or Households.
    Estimated Number of Respondents: 6,871,052.
    Frequency of Response: Annually.
    Estimated Total Number of Annual Responses: 6,836,052.
    Estimated Time per Response: 26 minutes to 16 hours 17 minutes.
    Estimated Total Annual Burden Hours: 105,271,229 hours.
    2. Title: Returns regarding payments of interest.
    OMB Control Number: 1545-0112
    Type of Review: Extension without change of a currently approved 
collection.
    Description: Internal Revenue Code section 6049 requires payers of 
interest of $10 or more to file a return showing the aggregate amount 
of interest paid to a payee. Regulations sections 1.6049 4 and 1.6049 7 
require Form 1099-INT to be used to report this information. IRC 
section 6041 and Regulations section 1.6041 1 require persons paying 
interest (that is not covered under section 6049) of $600 or more in 
the course of their trades or businesses to report that interest on 
Form 1099-INT. IRS uses Form 1099- INT to verify compliance with the 
reporting rules and to verify that the recipient has included the 
proper amount of interest on his or her income tax return.
    Form: 1099-INT.
    Affected Public: Businesses and other for-profit organizations, 
Individuals or Households, and Not-For-Profit Institutions.
    Estimated Number of Respondents: 141,555,000.
    Frequency of Response: Annually.
    Estimated Total Number of Annual Responses: 141,555,000.
    Estimated Time per Response: 13 minutes.
    Estimated Total Annual Burden Hours: 46,403,150 hours.
    3. Title: Depreciation and Amortization (Including Information on 
Listed Property)
    OMB Control Number: 1545-0172.
    Type of Review: Extension without change of a currently approved 
collection.
    Description: Form 4562 is used to claim a deduction for 
depreciation and amortization; to make the election to expense certain 
tangible property under Internal Revenue Code section 179; and to 
provide information on the business/investment use of automobiles and 
other listed property. The form provides the IRS with the information 
necessary to determine that the correct depreciation deduction is being 
claimed.
    Form: Form 4562.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents: 12,313,626.
    Frequency of Response: Annually.
    Estimated Total Number of Annual Responses: 12,313,626.
    Estimated Time per Response: 36.41 hours.
    Estimated Total Annual Burden Hours: 448,368,447 hours.
    4. Title: U.S. Estate (and Generation-Skipping Transfer) Tax 
Return.
    OMB Control Number: 1545-0531.
    Type of Review: Extension without change of a currently approved 
collection.
    Description: Form 706-NA is used to compute estate and generation-
skipping transfer tax liability for nonresident alien decedents in 
accordance with section 6018 of the Internal Revenue Code. IRS uses the 
information on the form to determine the correct amount of tax and 
credits.
    Form: Form 706-NA.
    Affected Public: Individuals or Households.
    Estimated Number of Respondents: 800.
    Frequency of Response: Annually.
    Estimated Total Number of Annual Responses: 800.
    Estimated Time per Response: 4 hours, 29 minutes.
    Estimated Total Annual Burden Hours: 3,584 hours.
    5. Title: Chief Counsel Application--Honors/Summer.
    OMB Control Number: 1545-0796.
    Type of Review: Extension without change of a currently approved 
collection.
    Description: Form 6524 is used as a screening device to evaluate an 
applicant's qualifications for employment as an attorney with the 
Office of Chief Counsel. It provides data deemed critical for 
evaluating an applicant's qualifications such as Law School Admission 
Test (LSAT) score, bar admission status, type of work preference, law 
school, and class standing.
    Form: Form 6524.
    Affected Public: Individuals.
    Estimated Number of Respondents: 1,000.
    Frequency of Response: On occasion.
    Estimated Total Number of Annual Responses: 1,000.
    Estimated Time per Response: 18 minutes.
    Estimated Total Annual Burden Hours: 300 hours.
    6. Title: Information Return for Publicly Offered Original Issue 
Discount Instructions.
    OMB Control Number: 1545-0887.
    Type of Review: Extension without change of a currently approved 
collection.
    Description: Internal Code section 1275(c)(2) requires the 
furnishing of certain information to the IRS by issuers of publicity 
offered debt instruments having original issue discount. Regulations 
section 1.1275-3 prescribes

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that Form 8281 shall be used for this purpose. The information on Form 
8281 is used to update Publication 1212, List of Original Issue 
Discount Instruments.
    Form: Form 8281.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents: 2,500.
    Frequency of Response: On occasion.
    Estimated Total Number of Annual Responses: 2,500.
    Estimated Time per Response: 6 hours, 7 minutes.
    Estimated Total Annual Burden Hours: 15,300 hours.
    7. Title: Application for Extension of Time to File Information 
Returns.
    OMB Control Number: 1545-1081.
    Type of Review: Extension without change of a currently approved 
collection.
    Description: Form 8809 is used to request an extension of time to 
file Forms W-2, W-2G, 1042-S, 1094-C, 1095, 1097, 1098, 1099, 3921, 
3922, 5498, or 8027. The IRS reviews the information contained on the 
form to determine whether an extension should be granted.
    Form: Form 8809.
    Affected Public: Business or other for-profit organizations, 
individuals or households, not-for-profit institutions; and State, 
Local or Tribal governments.
    Estimated Number of Respondents: 50,000.
    Frequency of Response: On occasion.
    Estimated Total Number of Annual Responses: 50,000.
    Estimated Time per Response: 4 hours, 44 minutes.
    Estimated Total Annual Burden Hours: 237,000 hours.
    8. Title: Information Reporting on Transactions With Foreign Trusts 
and on Large Foreign Gifts.
    OMB Control Number: 1545-1538.
    Type of Review: Extension without change of a currently approved 
collection.
    Description: This notice provides guidance on the foreign trust and 
foreign gift information reporting provisions contained in the Small 
Business Job Protection Act of 1996.
    Form: None.
    Affected Public: Business or other for-profit organizations, 
Individuals or Households, and Not-for-profit institutions.
    Estimated Number of Respondents: 5,000.
    Frequency of Response: Annually.
    Estimated Total Number of Annual Responses: 5,000.
    Estimated Time per Response: 45 minutes.
    Estimated Total Annual Burden Hours: 3,750 hours.
    9. Title: Request for Innocent Spouse Relief.
    OMB Control Number: 1545-1596.
    Type of Review: Extension without change of a currently approved 
collection.
    Description: Section 6013(e) of the Internal Revenue Code allows 
taxpayers to request, and IRS to grant, ``innocent spouse'' relief 
when: The taxpayer files a joint return with tax substantially 
understated; the taxpayer establishes no knowledge of, or benefit from, 
the understatement; and it would be inequitable to hold the taxpayer 
liable. Forms 8857 and 8857(SP) is used to request relief from 
liability of an understatement of tax on a joint return resulting from 
a grossly erroneous item attributable to the spouse.
    Form: Form 8857 and Form 8857(SP).
    Affected Public: Individuals or Households.
    Estimated Number of Respondents: 50,000.
    Frequency of Response: On occasion.
    Estimated Total Number of Annual Responses: 50,000.
    Estimated Time per Response: 6 hours, 32 minutes.
    Estimated Total Annual Burden Hours: 316,000 hours.
    10. Title: Residence of Trusts and Estates--7701.
    OMB Control Number: 1545-1600.
    Type of Review: Extension without change of a currently approved 
collection.
    Description: This regulation provides the procedures and 
requirements for making the election to remain a domestic trust in 
accordance with section 1161 of the Taxpayer Relief Act of 1997. The 
information submitted by taxpayers will be used by the IRS to determine 
if a trust is a domestic trust or a foreign trust.
    Form: None.
    Affected Public: Individuals or Households.
    Estimated Number of Respondents: 222.
    Frequency of Response: On occasion.
    Estimated Total Number of Annual Responses: 222.
    Estimated Time per Response: 31 minutes.
    Estimated Total Annual Burden Hours: 114 hours.
    11. Title: Constructive Transfers and Transfers of Property to a 
Third Party on Behalf of a Spouse.
    OMB Control Number: 1545-1751.
    Type of Review: Extension of a currently approved collection.
    Description: Constructive transfers and transfers of property to a 
third-party on behalf of a spouse. The regulation sets forth the 
required information that will permit spouses or former spouses to 
treat a redemption by a corporation of stock of one spouse or former 
spouse as a transfer of that stock to the other spouse or former spouse 
in exchange for the redemption proceeds and a redemption of the stock 
from the latter spouse or a former spouse in exchange for the 
redemption proceeds.
    Form: None.
    Affected Public: Individuals or Households, and Business or other 
for-profit organizations.
    Estimated Number of Respondents: 1,000.
    Frequency of Response: On occasion.
    Estimated Total Number of Annual Responses: 1,000.
    Estimated Time per Response: 30 minutes.
    Estimated Total Annual Burden Hours: 500 hours.
    12. Title: Notice of Qualified Equity Investment for New Markets 
Credit.
    OMB Control Number: 1545-2065.
    Type of Review: Extension without change of a currently approved 
collection.
    Description: Community Development Entities (CDEs) must provide 
notice to any taxpayer who acquires a qualified equity investment in 
the CDE at its original issue that the equity investment is a qualified 
equity investment entitling the taxpayer to claim the new markets 
credit. Form 8874-A is used to make the notification as required under 
section 1.45D-1(g)(2)(i)(A).
    Form: Form 8874-A.
    Affected Public: Business or other for-profit organizations, 
Individuals or Households.
    Estimated Number of Respondents: 500.
    Frequency of Response: Annually.
    Estimated Total Number of Annual Responses: 500.
    Estimated Time per Response: 5 hour 26 minutes.
    Estimated Total Annual Burden Hours: 2,715 hours.
    13. Title: Notice of Recapture Event for New Markets Credit.
    OMB Control Number: 1545-2066.
    Type of Review: Extension without change of a currently approved 
collection.
    Description: Community Development Entities (CDEs) must provide 
notification to any taxpayer holder of a qualified equity investment 
(including prior holders) that a recapture event has occurred. This 
form is used to make the notification as required under Regulations 
section 1.45D-1(g)(2)(i)(B).
    Affected Public: Individuals and households, and Business or other 
for-profit organizations.

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    Estimated Number of Respondents: 500.
    Frequency of Response: Annually.
    Estimated Total Number of Annual Responses: 500.
    Estimated Time per Response: 5 hours; 30 minutes.
    Estimated Total Annual Burden Hours: 2,755 hours.
    14. Title: Relief for Certain Spouses of Military Personnel.
    OMB Control Number: 1545-2169.
    Type of Review: Extension without change of a currently approved 
collection.
    Description: The Military Spouses Residency Relief Act (``MSRRA'') 
was signed into law on November 11, 2009 (Pub. L. 111-97). MSRRA 
applies to the 2009 and subsequent tax years. This collection provides 
guidance to taxpayers who claim the benefits of the tax provisions 
under MSRRA for the 2009 and subsequent tax years. These documents 
provide civilian spouses working in a U.S. territory but claiming a tax 
residence in one of the 50 States or the District of Columbia (``U.S. 
mainland'') under MSRRA with an extension of time for paying the tax 
due the Internal Revenue Service (``IRS'') (Internal Revenue Code Sec.  
6161). Additionally, these documents provide civilian spouses working 
on the U.S. mainland but claiming a tax residence in a U.S. territory 
under MSRRA with guidance on filing claims for refund of federal income 
taxes that their employers withheld and remitted to the IRS or 
estimated tax payments the taxpayers paid to the IRS.
    Affected Public: Individuals and households.
    Estimated Number of Respondents: 6,200.
    Frequency of Response: Annually.
    Estimated Total Number of Annual Responses: 6,200.
    Estimated Time per Response: 1 hour.
    Estimated Total Annual Burden Hours: 6,200 hours.

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

    Dated: July 24, 2020.
Spencer W. Clark,
Treasury PRA Clearance Officer.
[FR Doc. 2020-16480 Filed 7-29-20; 8:45 am]
BILLING CODE 4830-01-P