[Federal Register Volume 85, Number 228 (Wednesday, November 25, 2020)]
[Notices]
[Pages 75414-75418]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-26099]
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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 December 28, 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: Investment Interest Expense Deduction.
OMB Control Number: 1545-0191.
Type of Review: Extension of a currently approved collection.
Description: Interest expense paid by an individual, estate, or
trust on a loan allocable to property held for investment may not be
fully deductible in the current year. Form 4952 is used to compute the
amount of investment interest expense deductible for the current year
and the amount, if any, to carry forward to future years.
Form: IRS Form 4952.
Affected Public: Individuals or Households; and Businesses or other
for-profit organizations.
Estimated Number of Respondents: 734,263.
Frequency of Response: Annually.
Estimated Total Number of Annual Responses: 734,263.
Estimated Time per Response: 1 hour, 30 minutes.
Estimated Total Annual Burden Hours: 1,101,395 hours.
2. Title: Application for Award for Original Information.
OMB Control Number: 1545-0409.
Type of Review: Extension of a currently approved collection.
Description: Form 211 is the official application form used by
persons requesting rewards for submitting information concerning
alleged violations of the tax laws by other persons. Such rewards are
authorized by Internal Revenue Code Section 7623. The data is used to
determine and pay rewards to those persons who voluntarily submit
information.
Form: IRS Form 211.
Affected Public: Individuals or Households.
Estimated Number of Respondents: 15,000.
Frequency of Response: On occasion.
Estimated Total Number of Annual Responses: 15,000.
Estimated Time per Response: 45 minutes.
Estimated Total Annual Burden Hours: 11,250 hours.
3. Title: Proceeds From Broker and Barter Exchange Transactions.
OMB Control Number: 1545-0715.
[[Page 75415]]
Type of Review: Extension of a currently approved collection.
Description: Internal Revenue Code section 6045 requires the filing
of an information return by brokers to report the gross proceeds from
transactions and by barter exchanges to report exchanges of property or
services. Form 1099-B is used to report proceeds from these
transactions to the Internal Revenue Service.
Form: IRS Form 1099-B.
Affected Public: Individuals or Households; and Businesses or other
for-profit organizations.
Estimated Number of Respondents: 1,434,809,803.
Frequency of Response: Annually.
Estimated Total Number of Annual Responses: 1,434,809,803.
Estimated Time per Response: 47 minutes.
Estimated Total Annual Burden Hours: 674,360,608 hours.
4. Title: Certain Elections Under the Technical and Miscellaneous
Revenue Act of 1988 and the Redesignation of Certain Other Temporary
Elections Regulations.
OMB Control Number: 1545-1112.
Type of Review: Extension of a currently approved collection.
Description: Regulation section 301.9100-8 provides final income,
estate and gift, and employment tax regulations relating to elections
made under the Technical and Miscellaneous Revenue Act of 1988. This
regulation enables taxpayers to take advantage of various benefits
provided by the Internal Revenue Code.
Regulation Project Number: TD 8435.
Affected Public: Individuals or Households; Businesses or other
for-profit organizations; Not-for-profit institutions; and State,
Local, or Tribal Governments.
Estimated Number of Respondents: 21,740.
Frequency of Response: On occasion.
Estimated Total Number of Annual Responses: 21,740.
Estimated Time per Response: 17 minutes.
Estimated Total Annual Burden Hours: 6,010 hours.
5. Title: Disabled Access Credit.
OMB Control Number: 1545-1205.
Type of Review: Extension of a currently approved collection.
Description: Internal Revenue Code section 44 allows eligible small
businesses to claim a credit of 50% of the eligible access expenditures
that exceeds $250 but do not exceed $10,000. Form 8826, Disabled Access
Credit, is used by eligible small businesses to claim the 50 percent
credit eligible access expenditures to comply with the requirements
under the Americans with Disabilities Act of 1990. The credit is part
of the general business credit. Form 8826 is used to figure the credit
and the tax liability limit.
Form: IRS Form 8826.
Affected Public: Businesses or other for-profit organizations.
Estimated Number of Respondents: 17,422.
Frequency of Response: Annually.
Estimated Total Number of Annual Responses: 17,422.
Estimated Time per Response: 5 hours, 7 minutes.
Estimated Total Annual Burden Hours: 89,027 hours.
6. Title: Income, Gift and Estate Tax.
OMB Control Number: 1545-1360.
Type of Review: Extension of a currently approved collection.
Description: This regulation concerns the availability of the gift
and estate tax marital deduction when the donee spouse or the surviving
spouse is not a United States citizen. The regulation provides guidance
to individuals or fiduciaries: (1) For making a qualified domestic
trust election on the estate tax return of a decedent whose surviving
spouse is not a United States citizen in order that the estate may
obtain the marital deduction, and (2) for filing the annual returns
that such an election may require.
Regulation Project Number: TD 8612.
Affected Public: Individuals or Households.
Estimated Number of Respondents: 2,300.
Frequency of Response: Annually.
Estimated Total Number of Annual Responses: 2,300.
Estimated Time per Response: 2 hours, 40 minutes.
Estimated Total Annual Burden Hours: 6,150 hours.
7. Title: Taxpayer Statement Regarding Refund.
OMB Control Number: 1545-1384.
Type of Review: Extension of a currently approved collection.
Description: Form 3911 is used by taxpayers to notify the IRS that
a tax refund previously claimed has not been received. The form is
normally completed by the taxpayer as the result of an inquiry in which
the taxpayer claims non-receipt, loss, theft, or destruction of a tax
refund and IRS research shows that the refund has been issued. The
information on the form is needed to clearly identify the refund to be
traced.
Form: IRS Form 3911.
Affected Public: Individuals or Households; Businesses or other
for-profit organizations; and Not-for-profit institutions.
Estimated Number of Respondents: 200,000.
Frequency of Response: On occasion.
Estimated Total Number of Annual Responses: 200,000.
Estimated Time per Response: 5 minutes.
Estimated Total Annual Burden Hours: 16,600 hours.
8. Title: Certain Transfers of Domestic Stock or Securities by U.S.
Persons to Foreign Corporations.
OMB Control Number: 1545-1478.
Type of Review: Extension of a currently approved collection.
Description: This regulation relates to certain transfers of stock
or securities of domestic corporations pursuant to the corporate
organization, reorganization, or liquidation provisions of the internal
Revenue Code. Transfers of stock or securities by U.S. persons in tax-
free transactions are treated as taxable transactions when the acquirer
is a foreign corporation, unless an exception applies under Code
section 367(a). This regulation provides that no U.S. person will
qualify for an exception unless the U.S. target company complies with
certain reporting requirements.
Regulation Project Number: TD 8702.
Affected Public: Businesses or other for-profit organizations.
Estimated Number of Respondents: 100.
Frequency of Response: On occasion.
Estimated Total Number of Annual Responses: 100.
Estimated Time per Response: 10 minutes.
Estimated Total Annual Burden Hours: 1,000 hours.
9. Title: New Technologies in Retirement Plans.
OMB Control Number: 1545-1632.
Type of Review: Extension of a currently approved collection.
Description: Treasury Decision 8873 contains amendments to the
regulations governing certain notices and consents required in
connection with distributions from retirement plans. Specifically,
these regulations set forth applicable standards for the transmission
of those notices and consents through electronic media and modify the
timing requirements for providing certain distribution-related notices.
The regulations provide guidance to plan sponsors and administrators by
interpreting the notice and consent requirements in the context of the
electronic administration of retirement plans. The regulations affect
retirement plan sponsors, administrators, and participants.
On March 13, 2020, the President of the United States issued an
emergency declaration under the Robert T. Stafford
[[Page 75416]]
Disaster Relief and Emergency Assistance Act in response to the ongoing
Coronavirus Disease 2019 (COVID-19) pandemic, beginning March 1, 2020
(COVID-19 Emergency). In response to this unprecedented public health
emergency, and the related social distancing that has been implemented,
Notice 2020-42 provides temporary relief from the physical presence
requirement in Sec. 1.401(a)-21(d)(6) of the Income Tax Regulations
for participant elections required to be witnessed by a plan
representative or a notary public, such as a spousal consent required
under Sec. 417 of the Internal Revenue Code (the Code). While this
temporary relief, which covers the period from January 1, 2020, through
December 31, 2020, is intended to facilitate the use of coronavirus-
related distributions and plan loans to qualified individuals, as
permitted by section 2202 of the Coronavirus Aid, Relief, and Economic
Security Act, Public Law 116-136, 134 Stat. 281 (2020) (CARES Act), the
temporary relief applies to any participant election that requires the
signature of the individual making the election to be witnessed in the
physical presence of a plan representative or notary.
Regulation Project Number: TD 8873/Notice 2020-42.
Affected Public: Businesses or other for-profit organizations.
Estimated Number of Respondents: 455,625.
Frequency of Response: On occasion.
Estimated Total Number of Annual Responses: 11,700,000.
Estimated Time per Response: 2 minutes.
Estimated Total Annual Burden Hours: 477,563 hours.
10. Title: Disclosure of Returns and Return Information by Other
Agencies.
OMB Control Number: 1545-1757.
Type of Review: Extension of a currently approved collection.
Description: In general, under the regulations, the IRS is
permitted to authorize agencies with access to returns and return
information under section 6103 of the Internal Revenue Code to re-
disclose returns and return information based on a written request and
the Commissioner's approval, to any authorized recipient set forth in
Code section 6103, subject to the same conditions and restrictions, and
for the same purposes, as if the recipient had received the information
from the IRS directly.
Regulation Project Number: TD 9036.
Affected Public: Federal, State, Local or Tribal Governments.
Estimated Number of Respondents: 11.
Frequency of Response: On Occasion.
Estimated Total Number of Annual Responses: 11.
Estimated Time per Response: 1 hour.
Estimated Total Annual Burden Hours: 11 hours.
11. Title: Application to Participate in the IRS Acceptance Agent
Program.
OMB Control Number: 1545-1896.
Type of Review: Extension of a currently approved collection.
Description: Form 13551 is used by all parsons who wish to
participate in the TIN (Taxpayer Identification Number) Acceptance
Agent Program must apply by completing this application. Acceptance
Agents are individuals or entities (colleges, financial institutions,
accounting firms, etc.) that have entered into formal agreements with
IRS that permit them to assist alien individuals and other foreign
persons with obtaining TINs.
Form: IRS Form 13551.
Affected Public: Businesses or other for-profit organizations; Not-
for-profit institutions, and Federal, State, Local or Tribal
Governments.
Estimated Number of Respondents: 4,422.
Frequency of Response: On occasion.
Estimated Total Number of Annual Responses: 4,422.
Estimated Time per Response: 30 minutes.
Estimated Total Annual Burden Hours: 2,211 hours.
12. Title: Entry of Taxable Fuel.
OMB Control Number: 1545-1897.
Type of Review: Extension of a currently approved collection.
Description: The regulation imposes joint and several liabilities
on the importer of record for the tax imposed on the entry of taxable
fuel into the U.S. and revises definition of ``enterer''.
Regulation Project Number: TD 9346.
Affected Public: Individuals or Households; Businesses or other
for-profit organizations; Not-for-profit institutions; and Federal,
State, Local, or Tribal Governments.
Estimated Number of Respondents: 225.
Frequency of Response: On Occasion.
Estimated Total Number of Annual Responses: 1,125.
Estimated Time per Response: 0.25 hours.
Estimated Total Annual Burden Hours: 281 hours.
13. Title: Modification of Notice 2005-04; Biodiesel and Aviation-
Grade Kerosene.
OMB Control Number: 1545-1915.
Type of Review: Extension of a currently approved collection.
Description: Notice 2005-04 provides guidance on certain excise tax
Code provisions that were added or effected by the American Jobs
Creation Act of 2004. The information will be used by the IRS to verify
that the proper amount of tax is reported, excluded, refunded, or
credited. This notice is modified and expanded by Notices 2005-24,
2005-62, and 2005-80.
Notice Number: Notice 2005-62.
Affected Public: Businesses or other for-profit organizations; Not-
for-profit institutions; and Federal, State, Local or Tribal
Governments.
Estimated Number of Respondents: 157,963.
Frequency of Response: On Occasion.
Estimated Total Number of Annual Responses: 157,963.
Estimated Time per Response: 0.48 hour.
Estimated Total Annual Burden Hours: 76,190 hours.
14. Title: Procedures for Requesting Competent Authority Assistance
Under Tax Treaties.
OMB Control Number: 1545-2044.
Type of Review: Extension of a currently approved collection.
Description: Taxpayers who believe that the actions of the United
States, a treaty, or both, result or will result in taxation that is
contrary to the provisions of an applicable tax treaty are required to
submit the requested information in order to receive assistance from
the IRS official acting as the U.S. competent authority. The
information is used to assist the taxpayer in reaching a mutual
agreement with the IRS and the appropriate foreign competent authority.
Revenue Procedure Number: 2015-40.
Affected Public: Individuals or Households; and Businesses or other
for-profit organizations.
Estimated Number of Respondents: 300
Frequency of Response: On Occasion.
Estimated Total Number of Annual Responses: 300.
Estimated Time per Response: 30 hours.
Estimated Total Annual Burden Hours: 9000 hours.
15. Title: Late Filing of Certification or Notices.
OMB Control Number: 1545-2098.
Type of Review: Extension of a currently approved collection.
Description: The IRS needs certain information to determine whether
a taxpayer should be granted permission to make late filings of certain
statements or notices under sections 897 and 1445. The information
submitted will include a statement by the taxpayer demonstrating
reasonable cause for the failure to timely make relevant filings
[[Page 75417]]
under sections 897 and 1445. This revenue procedure provides a
simplified method for taxpayers to request relief for late filings
under sections 1.897-2(g)(1)(ii)(A), 1.897-2(h)(2), 1.1445-2(d)(2),
1.1445-5(b)(2), and 1.1445-5(b)(4) of the Income Tax Regulations.
Regulation Project Number: Revenue Procedure 2008-27.
Affected Public: Businesses or other for-profit organizations.
Estimated Number of Respondents: 250.
Frequency of Response: Annually.
Estimated Total Number of Annual Responses: 250.
Estimated Time per Response: 4 hours.
Estimated Total Annual Burden Hours: 1,000 hours.
16. Title: Form 8946, PTIN Supplemental Application for Foreign
Persons Without a Social Security Number.
OMB Control Number: 1545-2189.
Type of Review: Extension of a currently approved collection.
Description: Form 8946 is used by foreign persons without a social
security number (SSN) who want to prepare tax returns for compensation.
Foreign persons who are tax return preparers must obtain a preparer tax
identification number (PTIN) to prepare tax returns for compensation.
Generally, the IRS requires an individual to provide an SSN to get a
PTIN. Because foreign persons cannot get an SSN, they must file Form
8946 to establish their identity and status as a foreign person.
Form: IRS Form 8946.
Affected Public: Individuals or Households; and Businesses or other
for-profit organizations.
Estimated Number of Respondents: 4,466.
Frequency of Response: On Occasion.
Estimated Total Number of Annual Responses: 4,466.
Estimated Time per Response: 5.27 hours.
Estimated Total Annual Burden Hours: 23,536 hours.
17. Title: Credit for Small Employer Health Insurance Premiums.
OMB Control Number: 1545-2198.
Type of Review: Extension of a currently approved collection.
Description: Section 1421 of the Patient Protection and Affordable
Care Act, Public Law 111-148, allows qualified small employers to
elect, beginning in 2010, a tax credit for 50% of their employee health
care coverage expenses. Form 8941, Credit for Small Employer Health
Insurance Premiums, has been developed to help employers compute the
tax credit.
Form: IRS Form 8941.
Affected Public: Individuals or Households; Businesses or other
for-profit organizations; Not-for-profit institutions; and Federal,
State, Local or Tribal Governments.
Estimated Number of Respondents: 3,046,964.
Frequency of Response: Annually.
Estimated Total Number of Annual Responses: 3,046,964.
Estimated Time per Response: 11 hours, 15 minutes.
Estimated Total Annual Burden Hours: 34,278,346 hours.
18. Title: Foreclosure Sale Purchaser Contact Information Request.
OMB Control Number: 1545-2199.
Type of Review: Extension of a currently approved collection.
Description: Form 15597, Foreclosure Sale Purchaser Contact
Information Request, is information requested of individuals or
businesses that have purchased real property at a third-party
foreclosure sale. If the IRS has filed a ``Notice of Federal Tax Lien''
publically notifying a taxpayer's creditors that the taxpayer owes the
IRS a tax debt, AND a creditor senior to the IRS position later
forecloses on their creditor note (such as the mortgage holder of a
taxpayers primary residence) THEN the IRS tax claim is discharged or
removed from the property (if the appropriate foreclosure rules are
followed) and the foreclosure sale purchaser buys the property free and
clear of the IRS claim EXCEPT that the IRS retains the right to
``redeem'' or buy back the property from the foreclosure sale purchaser
w/in 120 days after the foreclosure sale. Collection of this
information is authorized by 28 U.S.C. 2410 and IRC 7425.
Form: IRS Form 15597.
Affected Public: Individuals or Households; Businesses or other
for-profit organizations; Not-for-profit institutions; and Federal,
State, Local, or Tribal Governments.
Estimated Number of Respondents: 150.
Frequency of Response: On Occasion.
Estimated Total Number of Annual Responses: 150.
Estimated Time per Response: 4.08 hour.
Estimated Total Annual Burden Hours: 613 hours.
19. Title: Request for Miscellaneous Determination.
OMB Control Number: 1545-2211.
Type of Review: Extension of a currently approved collection.
Description: Organizations exempt under section 501(c)(3) may file
Form 8940 for miscellaneous determinations under sections 507, 509(a),
4940, 4942, 4945, and 6033. Nonexempt charitable trusts may also file a
Form 8940 for an initial determination under section 509(a)(3).
Form: IRS Form 8940.
Affected Public: Not-for-profit institutions.
Estimated Number of Respondents: 2,100.
Frequency of Response: On Occasion.
Estimated Total Number of Annual Responses: 2,100.
Estimated Time per Response: 13 hours, 47 minutes.
Estimated Total Annual Burden Hours: 28,959 hours.
20. Title: Volunteer Income Tax Assistance (VITA) and Tax
Counseling for the Elderly (TCE) Programs.
OMB Control Number: 1545-2222.
Type of Review: Extension of a currently approved collection.
Description: The Internal Revenue Service offers free assistance
with tax return preparation and tax counseling using specially trained
volunteers. The Volunteer Income Tax Assistance (VITA) and Tax
Counseling for the Elderly (TCE) programs assist seniors and
individuals with low to moderate incomes, those with disabilities, and
those for whom English is a second language.
Form: IRS Form 8653, IRS Form 8654, IRS Form 14204, IRS Form 13715,
IRS Form 13206, and IRS Form 14310.
Affected Public: Individuals or Households.
Estimated Number of Respondents: 47,300.
Frequency of Response: On Occasion.
Estimated Total Number of Annual Responses: 47,300.
Estimated Time per Response: 21 minutes.
Estimated Total Annual Burden Hours: 16,134 hours.
21. Title: Report of Health Insurance Provider Information.
OMB Control Number: 1545-2249.
Type of Review: Extension of a currently approved collection.
Description: Form 8963 established under Section 9010 of the
Patient Protection and Affordable Care Act (PPACA), and Public Law 111-
148 (124 Stat. 119 (2010)), as amended by section 10905 of PPACA, and
as further amended by section 1406 of the Health Care and Education
Reconciliation Act of 2010, Public Law 111-152 (124 Stat. 1029 (2010)),
which requires any covered entity engaged in the business of providing
health insurance related to United States health risks to annually
report its net premiums written.
Form: IRS Form 8963.
Affected Public: Businesses or other for-profit organizations; and
Not-for-profit institutions.
[[Page 75418]]
Estimated Number of Respondents: 3,200.
Frequency of Response: On Occasion.
Estimated Total Number of Annual Responses: 3,200.
Estimated Time per Response: 7.92 hours.
Estimated Total Annual Burden Hours: 18,208 hours.
22. Title: Certificate of Foreign Contracting Party Receiving
Federal Procurement Payments.
OMB Control Number: 1545-2263.
Type of Review: Extension of a currently approved collection.
Description: Tax on Certain Foreign Procurement, Notice of Purposed
Rulemaking, contains proposed regulations under section 5000C of the
Internal Revenue Code. The proposed regulations affect U.S. government
acquiring agencies and foreign persons providing certain goods or
services to the U.S. government pursuant to a contract. This document
also contains proposed regulations under section 6114, with respect to
foreign persons claiming an exemption from the tax under an income tax
treaty. Section 5000C imposes a 2% tax on foreign persons (as defined
in section 7701(a)(30)), that are parties to specified Federal
procurement contracts with the U.S. government entered into on and
after January 2, 2011. This tax is imposed on the gross amount of
specified Federal procurement payments and is generally collected by
increasing the amount withheld under chapter 3. A Form W-14 must be
provided to the acquiring agency (U.S. government department, agency,
independent establishment, or corporation) to: Establish that they are
a foreign contracting party; and If applicable, claim an exemption from
withholding based on an international agreement (such as a tax treaty);
or Claim an exemption from withholding, in whole or in part, based on
an international procurement agreement or because goods are produced,
or services are performed in the United States. A Form W-14 must be
provided to the acquiring agency if a foreign contracting party has
been paid a specified Federal procurement payment and the foreign
contracting party is seeking to claim an exemption (in whole or in
part) from the tax imposed by section 5000C. Form W-14 must be
submitted when requested by the acquiring agency, whether or not an
exemption (in whole or in part) is claimed from withholding under
section 5000C.
Form: Form W-14.
Affected Public: Federal Government.
Estimated Number of Respondents: 2,000.
Frequency of Response: Annually.
Estimated Total Number of Annual Responses: 2,000.
Estimated Time per Response: 5 hours, 55 minutes.
Estimated Total Annual Burden Hours: 11,840 hours.
Authority: 44 U.S.C. 3501 et seq.
Dated: November 20, 2020.
Molly Stasko,
Treasury PRA Clearance Officer.
[FR Doc. 2020-26099 Filed 11-24-20; 8:45 am]
BILLING CODE 4830-01-P