[Federal Register Volume 85, Number 169 (Monday, August 31, 2020)]
[Notices]
[Page 53906]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-19146]


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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 September 30, 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: Escrow Funds and Other Similar Funds.
    OMB Control Number: 1545-1631.
    Type of Review: Extension without change of a currently approved 
collection.
    Description: Section 468B(g) of the Internal Revenue Code requires 
that escrow accounts, settlement funds, and similar funds be subject to 
current taxation either as grantor trusts or otherwise. The final 
regulations relate to the taxation and reporting of income earned on 
qualified settlement funds and certain other escrow accounts, trusts, 
and funds, and other related rules. The final regulations affect 
qualified settlement funds, escrow accounts established in connection 
with sales of property, disputed ownership funds, and the parties to 
these escrow accounts, trusts, and funds. An election statement is 
filed for a qualified settlement fund (QSF) that the QSF has elected 
grantor trust treatment for the QSF and a statement is required from a 
transferor with respect to the transfer of cash or property to a 
disputed ownership fund.
    Regulation Project Number: TD 9249.
    Affected Public: Businesses and other for-profit organizations, 
Individuals or Households, Not-For-Profit Institutions, and Federal, 
State, Local, or Tribal governments.
    Estimated Number of Respondents: 9,300.
    Frequency of Response: On occasion.
    Estimated Total Number of Annual Responses: 9,300.
    Estimated Time per Response: 24 minutes.
    Estimated Total Annual Burden Hours: 3,720 hours.
    2. Title: Recommendation for Juvenile Employment with the Internal 
Revenue Service.
    OMB Control Number: 1545-1746.
    Type of Review: Extension without change of a currently approved 
collection.
    Description: The Form ``Recommendation for Juvenile Employment with 
the Internal Revenue Service'', is used by 13 Delegated Examining Units 
and 16 Area Personnel Offices throughout the IRS as a mechanism to 
screen out questionable applicants when considering juveniles for 
employment in taxpayers remittance and submission processing functions.
    Form: Form 13094.
    Affected Public: Individuals or Households.
    Estimated Number of Respondents: 2,500.
    Frequency of Response: On occasion.
    Estimated Total Number of Annual Responses: 2,500.
    Estimated Time per Response: 5 minutes.
    Estimated Total Annual Burden Hours: 208 hours.
    3. Title: Contract Coverage Under Title II of the Social Security 
Act.
    OMB Control Number: 1545-0137.
    Type of Review: Extension without change of a currently approved 
collection.
    Description: U.S. citizens and resident aliens employed abroad by 
foreign affiliates of American employers are exempt from social 
security taxes. Under Internal Revenue Code section 3121(1), American 
employers may file an agreement on Form 2032 to waive this exemption 
and obtain social security coverage for U.S. citizens and resident 
aliens employed abroad by their foreign affiliates. The American 
employers can later file Form 2032 to cover additional foreign 
affiliates as an amendment to their original agreement.
    Form: IRS Form 2032.
    Affected Public: Businesses and other for-profit organizations, and 
Individuals or Households.
    Estimated Number of Respondents: 26.
    Frequency of Response: On occasion.
    Estimated Total Number of Annual Responses: 26.
    Estimated Time per Response: 6 hours, 4 minutes.
    Estimated Total Annual Burden Hours: 158 hours.

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

    Dated: August 26, 2020.
Spencer W. Clark,
Treasury PRA Clearance Officer.
[FR Doc. 2020-19146 Filed 8-28-20; 8:45 am]
BILLING CODE 4830-01-P