[Federal Register Volume 86, Number 86 (Thursday, May 6, 2021)]
[Notices]
[Pages 24439-24440]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-09617]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Extension of Information Collection Request Submitted 
for Public Comment; Comment Request on Burden Related to Form 5713, 
International Boycott Report

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

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SUMMARY: The Internal Revenue Service, as part of its continuing effort 
to reduce paperwork and respondent burden, invites the public and other 
Federal agencies to take this opportunity to comment on proposed and/or 
continuing information collections, as required by the Paperwork 
Reduction Act of 1995. Currently, the IRS is soliciting comments 
concerning the burden related to completing form 5713, International 
Boycott Report and the associated schedules.

DATES: Written comments should be received on or before July 6, 2021 to 
be assured of consideration.

ADDRESSES: Direct all written comments to Kinna Brewington, Internal 
Revenue Service, Room 6529, 1111 Constitution Avenue NW, Washington, DC 
20224. Requests for additional information or copies of the regulations 
should be directed to R. Joseph Durbala, at Internal Revenue Service, 
Room 6129, 1111 Constitution Avenue NW, Washington DC 20224, or through 
the internet, at [email protected].

SUPPLEMENTARY INFORMATION: 
    Title: International Boycott Report.
    OMB Number: 1545-0216.
    Regulation Project/Form Number: Forms 5713 and Sch's A, B, & C.
    Abstract: Persons having operations in or related to countries 
which require participation in or cooperation with an international 
boycott may be required to report these operations on Form 5713. 
Persons use Schedule A with Form 5713 to figure the international 
boycott factor to use in figuring the loss of tax benefits. Persons use 
Schedule B with Form 5713 to specifically attribute taxes and income to 
figure the loss of tax benefits. Filers of Schedule A or B (Form 5713) 
use Schedule C to compute the loss of tax benefits from participation 
in or cooperation with an international boycott.
    Current Actions: There is no change to the burden previously 
approved.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Businesses, and other for-profit organizations.
    Estimated Number of Responses: 5,632.
    Estimated Time per Respondent: 25 hrs., 28 min.
    Estimated Total Annual Burden Hours: 143,498.
    The following paragraph applies to all the collections of 
information covered by this notice:
    An agency may not conduct or sponsor, and a person is not required 
to respond to, a collection of information unless the collection of 
information displays a valid OMB control number.
    Books or records relating to a collection of information must be 
retained if their contents may become material in the administration of 
any internal revenue law. Generally, tax returns and tax return 
information are confidential, as required by 26 U.S.C. 6103.
    Desired Focus of Comments: The Internal Revenue Service (IRS) is 
particularly interested in comments that:
     Evaluate whether the proposed collection of information is 
necessary for the proper performance of the functions of the agency, 
including whether the information will have practical utility.
     Evaluate the accuracy of the agency's estimate of the 
burden of the proposed collection of information, including the 
validity of the methodology and assumptions used.
     Enhance the quality, utility, and clarity of the 
information to be collected; and
     Minimize the burden of the collection of information on 
those who are to respond, including using

[[Page 24440]]

appropriate automated, electronic, mechanical, or other technological 
collection techniques or other forms of information technology, e.g., 
by permitting electronic submissions of responses.
    Comments submitted in response to this notice will be summarized 
and/or included in the ICR for OMB approval of the extension of the 
information collection; they will also become a matter of public 
record.

    Approved: May 3, 2021.
Ronald J. Durbala,
IRS Tax Analyst.
[FR Doc. 2021-09617 Filed 5-5-21; 8:45 am]
BILLING CODE 4830-01-P