[Federal Register Volume 87, Number 133 (Wednesday, July 13, 2022)]
[Notices]
[Page 41871]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-14949]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request on Definitions of 
Contributions for Aid of Construction Under Section 118(c)

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 general public 
and other Federal agencies to take this opportunity to comment on 
continuing information collections, as required by the Paperwork 
Reduction Act of 1995. The IRS is soliciting comments concerning 
definitions of contributions for aid of Construction Under Section 
118(c).

DATES: Written comments should be received on or before September 12, 
2022 to be assured of consideration.

ADDRESSES: Direct all written comments to Andres Garcia, Internal 
Revenue Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC 
20224, or by email [email protected]. Include 1545-1639 or Aid of 
Construction Under Section 118(c) in the subject line of the message.

FOR FURTHER INFORMATION CONTACT:  Requests for additional information 
or copies of this collection should be directed to LaNita Van Dyke, at 
(202) 317-6009, at Internal Revenue Service, Room 6526, 1111 
Constitution Avenue NW, Washington, DC 20224, or through the internet 
at [email protected].

SUPPLEMENTARY INFORMATION:
    Title: Aid of Construction Under Section 118(c).
    OMB Number: 1545-1639.
    Regulation Project Number: TD 8936.
    Abstract: This regulation provides guidance with respect to section 
118(c), which provides that a contribution in aid of construction 
received by a regulated public water or sewage utility is treated as a 
contribution to the capital of the utility and excluded from gross 
income.
    Current Actions: There is no change to the burden previously 
approved by OMB.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Businesses or other for-profit organizations.
    Estimated Number of Respondents: 300.
    Estimated Time per Respondent: 1 hour.
    Estimated Total Annual Burden Hours: 300 hrs.
    The following paragraph applies to all of 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 as long as 
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.
    Request for Comments: Comments submitted in response to this notice 
will be summarized and/or included in the request for OMB approval. All 
comments will become a matter of public record. Comments are invited 
on: (a) whether the collection of information is necessary for the 
proper performance of the functions of the agency, including whether 
the information shall have practical utility; (b) the accuracy of the 
agency's estimate of the burden of the collection of information; (c) 
ways to enhance the quality, utility, and clarity of the information to 
be collected; (d) ways to minimize the burden of the collection of 
information on respondents, including through the use of automated 
collection techniques or other forms of information technology; and (e) 
estimates of capital or start-up costs and costs of operation, 
maintenance, and purchase of services to provide information.

    Approved: July 8, 2022.
Andres Garcia Leon,
Supervisory Tax Analyst.
[FR Doc. 2022-14949 Filed 7-12-22; 8:45 am]
BILLING CODE 4830-01-P