[Federal Register Volume 87, Number 61 (Wednesday, March 30, 2022)]
[Notices]
[Pages 18477-18481]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-06699]


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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, 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 must be received on or before April 29, 2022.

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: Notice Concerning Fiduciary Relationship and Notice 
Concerning Fiduciary Relationship of Financial Institution.
    OMB Control Number: 1545-0013.

[[Page 18478]]

    Type of Review: Extension of a currently approved collection.
    Description: Form 56 is used to notify the IRS of the creation or 
termination of a fiduciary relationship under Internal Revenue Code 
(IRC) section 6903 and provide the qualification for the fiduciary 
relationship under IRC section 6036. Form 56-F is used by the federal 
agency acting as a fiduciary in order to notify the IRS of the 
creation, termination, or change in status of a fiduciary relationship 
with a financial institution.
    Form Number: Forms 56 and 56-F.
    Affected Public: Business or other for-profit organizations; and 
Individual or Households.
    Estimated Number of Respondents: 174,050.
    Frequency of Response: On Occasion.
    Estimated Total Number of Annual Responses: 174,050.
    Estimated Time per Response: 1.5 to 2 hours.
    Estimated Total Annual Burden Hours: 349,786.
    2. Title: Heavy Highway Vehicle Use Tax Return.
    OMB Control Number: 1545-0143.
    Type of Review: Extension of a current OMB approval.
    Description: Form 2290 and 2290/SP are used to compute and report 
the tax imposed by section 4481 on the highway use of certain motor 
vehicles. The information is used to determine whether the taxpayer has 
paid the correct amount of tax.
    Form Number: Form 2290 and Form 2290/SP.
    Affected Public: Businesses or other for-profits; and Individuals 
or Households.
    Estimated Number of Respondents: 554,098.
    Frequency of Response: Annually.
    Estimated Total Number of Annual Responses: 554,098.
    Estimated Time per Response: 42 hours, 52 minutes.
    Estimated Total Annual Burden Hours: 23,748,641 hours.
    3. Title: Work Opportunity Credit.
    OMB Control Number: 1545-0219.
    Type of Review: Extension of a currently approved collection.
    Description: Internal Revenue Code section 38(b)(2) allows a credit 
against income tax to employers hiring individuals from certain 
targeted groups such as welfare recipients, etc. The employer uses Form 
5884 to compute this credit. The IRS uses the information on the form 
to verify that the correct amount of credit was claimed.
    Form Number: Form 5884.
    Affected Public: Business or other for-profit organizations; and 
Individuals or Households.
    Estimated Number of Respondents: 10,000.
    Frequency of Response: Annually.
    Estimated Total Number of Annual Responses: 10,000.
    Estimated Time per Response: 6 hours, 57 minutes.
    Estimated Total Annual Burden Hours: 69,400 hours.
    4. Title: Allocation of expenses by real estate mortgage investment 
conduits.
    OMB Control Number: 1545-1018.
    Type of Review: Extension of a currently approved collection.
    Description: In general, a REMIC is a fixed pool of mortgages in 
which multiple classes of interests are held by investors and which 
elects to be taxed as a REMIC. The regulations under section 860D 
prescribe the way an entity elects status as a REMIC. The regulations 
under section 860F govern the filing of the REMIC's income tax return 
and, together with the regulations under sections 67 and 6049 require 
notice of income and other information to be provided to REMIC 
investors and the Internal Revenue Service. Investors use the 
information provided in sections 67 and 6049 while completing their 
income tax returns. The Internal Revenue Service will use this 
information to determine that taxpayers are complying with the 
applicable tax laws.
    Form Number: TD 8366 and TD 8431.
    Affected Public: Businesses or other for-profit.
    Estimated Number of Respondents: 655.
    Frequency of Response: Quarterly.
    Estimated Total Number of Annual Responses: 9,725.
    Estimated Time per Response: 6 minutes.
    Estimated Total Annual Burden Hours: 978.
    5. Title: TD 8352 (temp & final) Final Regulations Under Sections 
382 and 383 of the Internal Revenue Code of 1986; Pre-change 
Attributes; TD 8531--Final Regulations Under Section 382.
    OMB Control Number: 1545-1120.
    Type of Review: Revision of a current OMB approval.
    Description: These regulations require reporting by a corporation 
after it undergoes an ``ownership change'' under Code sections 382 and 
383. Corporations required to report under these regulations include 
those with capital loss carryovers and excess credits. (TD 8531) These 
regulations provide rules for the treatment of options under Code 
section 382 for purposes of determining whether a corporation undergoes 
an ownership change. The regulation allows for certain elections for 
corporations whose stock is subject to options.
    Form Number: TD 8352 and TD 8531.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents: 75,000.
    Frequency of Response: Annually.
    Estimated Total Number of Annual Responses: 75,000.
    Estimated Time per Response: 2 hours, 56 minutes.
    Estimated Total Annual Burden Hours: 220,500.
    6. Title: Renewable Electricity, Refined Coal, and Indian Coal 
Production Credit.
    OMB Control Number: 1545-1362.
    Type of Review: Extension of a currently approved collection.
    Description: Form 8835 is used to claim the renewable electricity 
production credit. The credit is allowed for the sale of electricity 
produced in the United States or U.S. possessions from qualified energy 
resources. The IRS uses the information reported on the form to ensure 
that the credit is correctly computed.
    Form Number: Form 8835.
    Affected Public: Business or other-for-profit organizations; and 
Individuals or Households.
    Estimated Number of Respondents: 477.
    Frequency of Response: On occasion.
    Estimated Total Number of Annual Responses: 477.
    Estimated Time per Response: 18 hours, 26 minutes.
    Estimated Total Annual Burden Hours: 8,720.
    7. Title: Pre-Screening Notice and Certification Request for the 
Work Opportunity Credit.
    OMB Control Number: 1545-1500.
    Type of Review: Extension of a currently approved collection.
    Description: Employers use Form 8850 as part of a written request 
to a state employment security agency to certify an employee as a 
member of a targeted group for purposes of qualifying for the work 
opportunity credit. The work opportunity credit covers certain 
employees who begin work for the employer after December 31, 2020.
    Form Number: Form 8850.
    Affected Public: Business or other for-profit organizations; not-
for-profit organizations.
    Estimated Number of Respondents: 440,000.
    Frequency of Response: Annually.
    Estimated Total Number of Annual Responses: 440,000.
    Estimated Time per Response: 7 hours, 24 minutes.
    Estimated Total Annual Burden Hours: 3,242,800.

[[Page 18479]]

    8. Title: Revenue Procedure 2015-41--Section 482--Allocation of 
Income and Deductions Among Taxpayers.
    OMB Control Number: 1545-1503.
    Type of Review: Extension of a currently approved collection.
    Description: This revenue procedure provides guidance on the 
process of requesting and obtaining advance pricing agreements from the 
advance pricing agreement and mutual agreement program (``APMA''), to 
process applications, negotiate agreements, and to verify compliance 
with agreements and whether agreements require modification.
    Form Number: Revenue Procedure 2015-41.
    Affected Public: Business or other for-profits; and Individuals or 
Households.
    Estimated Number of Respondents: 390.
    Frequency of Response: On occasion.
    Estimated Total Number of Annual Responses: 390.
    Estimated Time per Response: 10 up to 60 hours.
    Estimated Total Annual Burden Hours: 10,900.
    9. Title: Tip Rate Determination Agreement (Gaming Industry).
    OMB Control Number: 1545-1530.
    Type of Review: Extension of a currently approved collection.
    Description: Information is required by the Internal Revenue 
Service in its compliance efforts to assist employers and their 
employees in understanding and complying with Internal Revenue Code 
Section 6053(a), which requires employees to report all their tips 
monthly to their employers.
    Revenue Procedure Number: 2020-47.
    Affected Public: Business or other for-profit institutions.
    Estimated Number of Respondents: 781.
    Frequency of Response: On occasion.
    Estimated Total Number of Annual Responses: 781.
    Estimated Time per Response: 14 hours, 44 minutes.
    Estimated Total Annual Burden Hours: 11,512 hours.
    10. Title: Low-Income Taxpayer Clinics Grant Application Package 
and Guidelines.
    OMB Control Number: 1545-1648.
    Type of Review: Extension of a currently approved collection.
    Description: Publication 3319 outlines requirements of the IRS Low-
Income Taxpayer Clinics (LITC) program and provides instructions on how 
to apply for a LITC grant award. The IRS will review the information 
provided by applicants to determine whether to award grants for the 
Low-Income Taxpayer Clinics.
    Form Number: Publication 3319, Form 13424, 13424-A, 13424-B, 13424-
C, 13424-J, 13424-K, 13424-L, 13424-M, 13424-N, 13424-P, 13424-Q, and 
Project Abstracts.
    Affected Public: Not for-profit institutions.
    Estimated Number of Respondents: 130.
    Frequency of Response: Annually.
    Estimated Total Number of Annual Responses: 2,780.
    Estimated Time per Response: 5 minutes up to 3 hours.
    Estimated Total Annual Burden Hours: 9,338.
    11. Title: Credit for Small Employer Pension Plan Startup Costs.
    OMB Control Number: 1545-1810.
    Type of Review: Revision of a currently approved collection.
    Description: Qualified small employers use Form 8881 to claim a 
credit for start-up costs related to eligible retirement plans. Form 
8881 implements section 45E, which provides a credit based on costs 
incurred by an employer in establishing or administering an eligible 
employer plan or for the retirement-related education of employees with 
respect to the plan. The credit is 50% of the qualified costs for the 
tax year, up to a maximum credit of $500 for the first tax year and 
each of the two subsequent tax years.
    Form Number: Form 8881.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents: 66,667.
    Frequency of Response: Annually.
    Estimated Total Number of Annual Responses: 66,667.
    Estimated Time per Response: 4 hours, 45 minutes.
    Estimated Total Annual Burden Hours: 316,002.
    12. Title: Application for Registration (For Certain Excise Tax 
Activities).
    OMB Control Number: 1545-1835.
    Type of Review: Revision of a currently approved collection.
    Description: Form 637 is used to apply for excise tax registration. 
The registration applies to a person required to be registered under 
Revenue code section 4101 for purposes of the federal excise tax on 
taxable fuel imposed under Code sections 4041 and 4081; and to certain 
manufacturers or sellers and purchasers that must register under Code 
section 4222 to be exempt from the excise tax on taxable articles. The 
data is used to determine if the applicant qualifies for the exemption. 
Taxable fuel producers are required by Code section 4101 to register 
with the Service before incurring any tax liability.
    Form Number: Form 637.
    Affected Public: Business or other for-profit organizations; and 
Not-for-profit organizations.
    Estimated Number of Respondents: 9,185.
    Frequency of Response: On occasion.
    Estimated Total Number of Annual Responses: 9,185.
    Estimated Total Annual Burden Hours: 31,521.
    13. Title: Assumption of Partner Liabilities.
    OMB Control Number: 1545-1843.
    Type of Review: Extension of a currently approved collection.
    Description: This document contains final regulations relating to 
the definition of liabilities under Internal Revenue Code (IRC) section 
752. These regulations provide rules regarding a partnership's 
assumption of certain fixed and contingent obligations in connection 
with the issuance of a partnership interest and provide conforming 
changes to certain regulations. These regulations also provide rules 
under IRC section 358(h) for assumptions of liabilities by corporations 
from partners and partnerships. Finally, this document also contains 
temporary regulations relating to the assumption of certain liabilities 
under IRC section 358(h).
    Regulation Project Number: TD 9207.
    Affected Public: Business or other for-profit organizations; and 
Individuals or Households.
    Estimated Number of Respondents: 250.
    Frequency of Response: On occasion.
    Estimated Total Number of Annual Responses: 250.
    Estimated Time per Response: 30 minutes.
    Estimated Total Annual Burden Hours: 125.
    14. Title: Safe Harbor for Valuation and Mark to Market Accounting 
Method for Dealers Under Section 475.
    OMB Control Number: 1545-1945.
    Type of Review: Extension of a currently approved collection.
    Description: These documents set forth an elective safe harbor that 
permits dealers in securities and dealers in commodities to elect to 
use the values of positions reported on certain financial statements as 
the fair market values of those positions for purposes of section 475 
of the Internal Revenue Code (Code). This safe harbor is intended to 
reduce the compliance burden on taxpayers and to improve the 
administrability of the valuation requirement of section 475 for the 
IRS. TD 8700 contains final regulations providing guidance to enable 
taxpayers to comply with the mark-to-market

[[Page 18480]]

requirements applicable to dealers in securities.
    Regulation Project Number: TD 9328 and TD 8700.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents: 15,708.
    Frequency of Response: Annually.
    Estimated Total Number of Annual Responses: 15,708.
    Estimated Time per Response: 30 minutes up to 4 hours.
    Estimated Total Annual Burden Hours: 52,182.
    15. Title: Distilled Spirits Credit.
    OMB Control Number: 1545-1982.
    Type of Review: Extension of a currently approved collection.
    Description: Form 8906, Distilled Spirits Credit, was developed to 
carry out the provisions of IRC section 5011(a). This section allows 
eligible wholesalers and persons subject to IRC section 5055 an income 
tax credit for the average cost of carrying excise tax on bottled 
distilled spirits. The form provides a means for the eligible taxpayer 
to compute the amount of credit.
    Form Number: Form 8906.
    Affected Public: Businesses and other for-profits.
    Estimated Number of Respondents: 300.
    Frequency of Response: Annually.
    Estimated Total Number of Annual Responses: 300.
    Estimated Time per Response: 1 hour 52 minutes.
    Estimated Total Annual Burden Hours: 558.
    16. Title: Energy Efficient Homes Credit; Manufactured Homes.
    OMB Control Number: 1545-1994.
    Type of Review: Extension of a currently approved collection.
    Description: This notice supersedes Notice 2006-28 by substantially 
republishing the guidance contained in that publication. This notice 
clarifies the meaning of the terms equivalent rating network and 
eligible contractor and permits calculation procedures other than those 
identified in Notice 2006-28 to be used to calculate energy 
consumption. Finally, this notice clarifies the process for removing 
software from the list of approved software and reflects the extension 
of the tax credit through December 31, 2008. Notice 2006-28, as 
updated, provided guidance regarding the calculation of heating and 
cooling energy consumption for purposes of determining the eligibility 
of a manufactured home for the New Energy Efficient Home Credit under 
Internal Revenue Code Sec.  45L. Notice 2006-28 also provided guidance 
relating to the public list of software programs that may be used to 
calculate energy consumption. Guidance relating to dwelling units other 
than manufactured homes is provided in Notice 2008-35.
    Form Number: Notice 2008-36, Notice 2008-35.
    Affected Public: Individuals or Households.
    Estimated Number of Respondents: 15.
    Frequency of Response: Annually.
    Estimated Total Number of Annual Responses: 15.
    Estimated Time per Response: 4 hours.
    Estimated Total Annual Burden Hours: 60.
    17. Title: T.D. 9304--Guidance Necessary to Facilitate Business 
Electronic Filing Under Section 1561, T.D. 9329--Guidance Necessary to 
Facilitate Business Electronic Filing and Burden Reduction, T.D. 9451--
Guidance Necessary to Facilitate Business Election Filing; Finalization 
of Controlled Group Qualification Rules and T.D. 9759--Limitations on 
the Importation of Net Built-In Losses.
    OMB Control Number: 1545-2019.
    Type of Review: Extension of a currently approved collection.
    Description: TD 9304 regulations provide guidance to taxpayers 
regarding how to allocate the amounts of tax benefit items under 
section 1561(a) amongst the component members of a controlled group of 
corporations which have an apportionment plan in effect. TD 9329 
contains final regulations that simplify, clarify, or eliminate 
reporting burdens and also eliminate regulatory impediments to the 
electronic filing of certain statements that taxpayers are required to 
include on or with their Federal income tax returns. TD 9451 provides 
guidance to taxpayers for determining which corporations are included 
in a controlled group of corporations. TD 9759 provides guidance for 
preventing the importation of loss when a corporation that is subject 
to U.S. income tax acquires loss property tax-free in certain 
transactions and the loss in the acquired property accrued outside the 
U.S. tax system by requiring the bases of the assets received to be 
equal to value.
    Form Number: TD 9304 (REG-161919-05), TD 9329 (REG134317-05), TD 
9451 (REG-161919-05) and TD 9759 (REG-161948-05).
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents: 225,000.
    Frequency of Response: On occasion.
    Estimated Total Number of Annual Responses: 225,000.
    Estimated Time per Response: 1 hour 40 minutes.
    Estimated Total Annual Burden Hours: 375,000.
    18. Title: Election Involving the Repeal of the Bonding 
Requirement.
    OMB Control Number: 1545-2120.
    Type of Review: Extension of a currently approved collection.
    Description: This revenue procedure affects taxpayers who are 
maintaining a surety bond or a Treasury Direct Account (TDA) to satisfy 
the low-income housing tax credit recapture exception in Sec.  42(j)(6) 
of the Internal Revenue Code (the Code), as in effect on or before July 
30, 2008. This revenue procedure provides the procedures for taxpayers 
to follow when making the election under section 3004(i)(2)(B)(ii) of 
the Housing Assistance Tax Act of 2008 (Pub. L. 110-289) (the Act) to 
no longer maintain a surety bond or a TDA to avoid recapture.
    Form Number: RP 2008-60 and RP 2012-27.
    Affected Public: Individuals and Households; and Businesses and 
other-for-profit organizations.
    Estimated Number of Respondents: 7,810.
    Frequency of Response: Annually; On occasion.
    Estimated Total Number of Annual Responses: 7,810.
    Estimated Time per Response: 1 hour.
    Estimated Total Annual Burden Hours: 7,810.
    19. Title: Application for Extension of Time for Payment of Tax Due 
to Undue Hardship.
    OMB Control Number: 1545-2131.
    Type of Review: Extension of a currently approved collection.
    Description: Internal Revenue Code section 6161 allows individual 
and business taxpayers to request an extension of time for payment of 
tax shown or required to be shown on a return or for a tax due on a 
notice of deficiency. Form 1127 must be filed with supporting 
documentation to approve an extension, providing evidence the taxpayer 
would sustain a substantial financial loss if forced to pay the tax or 
deficiency on the due date.
    Form Number: Form 1127.
    Affected Public: Businesses or other for-profit organizations; and 
Not-for-profits.
    Estimated Number of Respondents: 20.
    Frequency of Response: Annually; On occasion.
    Estimated Total Number of Annual Responses: 20.
    Estimated Time per Response: 7 hours, 26 minutes.
    Estimated Total Annual Burden Hours: 149 hours.

[[Page 18481]]

    20. Title: Mortgage Assistance Payments.
    OMB Control Number: 1545-2221.
    Type of Review: Extension of a currently approved collection.
    Description: This form is a statement reported to the IRS and to 
taxpayers. It will be filed and furnished by State Housing Finance 
Agencies (HFAs) and HUD to report the total amounts of mortgage 
assistance payments and homeowner mortgage payments made to mortgage 
servicers. The requirement for the statements are authorized by Notice 
2011-14, supported by Public Law 111-203, sec. 1496, and Public Law 
110-343, Division A, sec. 109.
    Form Number: Form 1098-MA.
    Affected Public: Individuals, Federal Government, State, Local, or 
Tribal Governments.
    Estimated Number of Respondents: 52.
    Frequency of Response: Annually.
    Estimated Total Number of Annual Responses: 60,000.
    Estimated Time per Response: 2 hours 50 minutes.
    Estimated Total Annual Burden Hours: 170,400.
    Authority: 44 U.S.C. 3501 et seq.

Molly Stasko,
Treasury PRA Clearance Officer.
[FR Doc. 2022-06699 Filed 3-29-22; 8:45 am]
BILLING CODE 4830-01-P