[Federal Register Volume 87, Number 206 (Wednesday, October 26, 2022)]
[Notices]
[Pages 64852-64855]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-23309]


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DEPARTMENT OF THE TREASURY


Agency Information Collection Activities; Submission for OMB 
Review; Comment Request; Multiple Internal Revenue Service (IRS) 
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

[[Page 64853]]

public is invited to submit comments on these requests.

DATES: Comments should be received on or before November 25, 2022 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. Copies of 
the submissions may be obtained from Melody Braswell by emailing 
[email protected], calling (202) 622-1035, or viewing the entire 
information collection request at www.reginfo.gov.

SUPPLEMENTARY INFORMATION:

Internal Revenue Service (IRS)

    1. Title: Application of tentative refund.
    OMB Number: 1545-0098.
    Form Number: 1045.
    Abstract: Form 1045 is used by individuals, estates, and trusts to 
apply for a quick refund of taxes due to carryback of a net operating 
loss, unused general business credit, or claim of right adjustment 
under Internal Revenue Code section 1341(b). The information obtained 
is used to determine the validity of the application.
    Current Actions: Form 1045 has been revised to comply with updates 
in current laws and regulatory requirements.
    Type of Review: Revision of a currently approved collection.
    Affected Public: Individuals or households, business or other for-
profit organizations, and farms.
    Estimated Number of Respondents: 17,503.
    Estimated Time per Respondent: 24 hours 29 min.
    Estimated Total Annual Burden Hours: 428,649.
    2. Title: Application for Approval of Prototype or Employer 
Sponsored Individual Retirement Account.
    OMB Number: 1545-0390.
    Form Number: 5306.
    Abstract: This application is used by employers who want to 
establish an individual retirement account trust to be used by their 
employees. The application is also used by banks and insurance 
companies that want to establish approved prototype individual 
retirement accounts or annuities. The data collected is used to 
determine if the individual retirement account trust or annuity 
contract meets the requirements of Code section 408(a), 408(b), or 
408(c) so that the IRS may issue an approval letter.
    Current Actions: There is no change to the paperwork burden 
previously approved by OMB.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Businesses and other for-profit organizations.
    Estimated Number of Respondents: 600.
    Estimated Time per Respondent: 13 hours, 44 minutes.
    Estimated Total Annual Burden Hours: 8,244 hours.
    3. Title: Gains and Losses From Section 1256 Contracts and 
Straddles.
    OMB Number: 1545-0644.
    Form Number: 6781.
    Abstract: Form 6781 is used by taxpayers in computing their gains 
and losses on Internal Revenue Code section 1256 contracts under the 
marked-to-market rules and gains and losses under Code section 1092 
from straddle positions. The data is used to verify that the tax 
reported accurately reflects any such gains and losses.
    Current Actions: There is no change to the paperwork burden 
previously approved by OMB. This form is being submitted for renewal 
purposes only.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations, and 
individuals.
    Estimated Number of Respondents: 5,684.
    Estimated Time Per Respondent: 13.95 hours.
    Estimated Total Annual Burden Hours: 79,292 hours.
    4. Title: Application for Renewal of Enrollment to Practice Before 
the Internal Revenue Service.
    OMB Number: 1545-0946.
    Form Number: 8554.
    Abstract: The information obtained from Form 8554 relates to the 
approval of continuing professional education programs and the renewal 
of the enrollment status for those individuals admitted (enrolled) to 
practice before the Internal Revenue Service. The information will be 
used by the Director of Practice to determine the qualifications of 
individuals who apply for renewal of enrollment.
    Current Actions: There are no changes to the form since last 
renewal of this collection.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals or households.
    Estimated Number of Respondents: 62,000.
    Estimated Number of Responses: 21,000.
    Estimated Time per Response: 20 minutes.
    Estimated Total Annual Burden Hours: 7,000.
    Title: Application for Renewal of Enrollment to Practice Before the 
Internal Revenue Service as an Enrolled Retirement Plan Agent (ERPA).
    OMB Number: 1545-0946.
    Form: 8554-EP.
    Abstract: This form is used to renew your Enrolled Retirement Plan 
Agent (ERPA) status. You must renew your enrollment status every 3 
years as determined by the last digit of your Tax Identification Number 
(TIN).
    Current Actions: There are no changes being made to the form at 
this time. However, there are changes to the burden estimates due to 
the most current filing data.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals or households.
    Estimated Number of Respondents: 750.
    Estimated Number of Responses: 250.
    Estimated Time per Response: 20 minutes.
    Estimated Total Annual Burden Hours: 83.
    5. Title: Application for Enrollment to Practice Before the 
Internal Revenue Service.
    OMB Number: 1545-0950.
    Form Number: Form 23.
    Abstract: Form 23 must be completed by those who desire to practice 
before the Internal Revenue Service. The information on the form will 
be used by the Director of Practice to determine the qualifications and 
eligibility of applicants for enrollment.
    Current Actions: There are no changes to Form 23.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals or households.
    Estimated Number of Respondents: 5,429.
    Estimated Time per Respondent: 30 minutes.
    Estimated Total Annual Burden Hours: 2,715 hrs.
    6. Title: Generation-Skipping Transfer Tax Return For Terminations.
    OMB Number: 1545-1145.
    Form Number: 706-GS(T).
    Abstract: Form 706-GS(T) is used by trustees to compute and report 
the tax due on generation-skipping transfers that result from the 
termination of interests in a trust. The IRS uses the information to 
verify that the tax has been properly computed.
    Current Actions: There are no changes being made to the form at 
this time.

[[Page 64854]]

    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals or households.
    Estimated Number of Respondents: 500.
    Estimated Number of Responses: 1 hour, 22 minutes.
    Estimated Total Annual Burden Hours: 684 hours.
    7. Title: Real Estate Mortgage Investment Conduits.
    OMB Number: 1545-1276.
    Regulation Project: TD 8458.
    Abstract: Internal Revenue Code (IRC) section 860G provides 
definitions and special rules pertaining to real estate mortgage 
investment conduits (REMIC). IRC section 860E outlines the treatment of 
income in excess of daily accruals on residual interests and imposes an 
excise tax on the transfer of a residual interest in a REMIC to a 
disqualified organization. Treasury Regulations section 1.860E-2(a)(5) 
requires the REMIC to furnish, on request of the party responsible for 
the tax and to the Internal Revenue Service (IRS), information 
sufficient to compute the present value of the anticipated excess 
inclusions. Treasury Regulations sections 1.860E-2(a)(7) and 1.860E-
2(b)(2) provide that the tax will not be imposed on the party otherwise 
liable for the tax if the transferee or record holder with interest in 
a pass-thru entity furnishes an affidavit stating that they are not a 
disqualified organization.
    Current Actions: There is no change to the existing collection.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Responses: 1,600.
    Estimated Time per Respondent: 20 minutes.
    Estimated Total Annual Burden Hours: 525.
    8. Title: U.S. Income Tax Return for Qualified Funeral Trusts.
    OMB Number: 1545-1593.
    Form Number: 1041-QFT.
    Abstract: Internal Revenue Code section 685 allows the trustee of a 
qualified funeral trust to elect to report and pay the tax for the 
trust. Form 1041-QFT is used for this purpose. The IRS uses the 
information on the form to determine that the trustee filed the proper 
return and paid the correct tax.
    Current Actions: There are no changes being made to the form at 
this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Businesses or other for-profit organizations.
    Estimated Number of Responses: 15,000.
    Estimated Time per Response: 18.5 hours.
    Estimated Total Annual Burden Hours: 277,500.
    9. 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.
    Title: Employee Plans Compliance Resolution System (EPCRS).
    10. OMB Number: 1545-1673.
    Regulation Project Number: RP 2021-30.
    Form Number: Forms 8950, 8951, 14568, 14568-A thru I.
    Abstract: The information requested in Revenue Procedure 2021-30 is 
required to enable the Internal Revenue Service to make determinations 
on the issuance of various types of closing agreements and compliance 
statements. The issuance of the agreements and statements allow 
individual plans to maintain their tax-qualified status. As a result, 
the favorable tax treatment of the benefits of the eligible employees 
is retained. Applicants under the Voluntary Correction Program (VCP) 
must file Forms 8950 and 8951, and the appropriate scheduled(s) to the 
applicable part of the model compliance statement, in order to request 
written approval from the IRS for a correction of a qualified plan that 
has failed to comply with the requirements of the Internal Revenue 
Code.
    Current Actions: There is no change to the paperwork burden 
previously approved by OMB.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals and business or other for-profit 
organizations, not-for profit institutions, and state, local or tribal 
governments.
    Estimated Number of Respondents: 15,375.
    Estimated Time per Respondent: 12 hours, 25 minutes.
    Estimated Total Annual Burden Hours: 190,941 hours.
    11. Title: New Markets Credit.
    OMB Number: 1545-1804.
    Form Number: 8874.
    Abstract: Investors to claim a credit for equity investments made 
in Qualified Community Development Entities use Form 8874.
    Current Actions: There is no change in the paperwork burden 
previously approved by OMB.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals or households, and business or other 
for-profit organizations.
    Estimated Number of Respondents: 101.
    Estimated Time per Respondent: 4 hours, 52 minutes.
    Estimated Total Annual Burden Hours: 492 hours.
    12. Title: Health Coverage Tax Credit (HCTC) Monthly Registration 
and Update.
    OMB Number: 1545-1842.
    Form Number: 13441-A.
    Abstract: The health coverage tax credit monthly registration and 
update Form will be directly mailed to all individuals who are 
potentially eligible for the HCTC. Potentially eligible individuals 
will use this form to determine if they are eligible for the Health 
Coverage Tax Credit and to register for the HCTC program. Participation 
in this program is voluntary. This form will be submitted by the 
individual to the HCTC program office in a postage-paid, return 
envelope. We will accept faxed forms, if necessary. Additionally, 
recipients may call the HCTC call center for help in completing this 
form.
    Current Actions: The HCTC expired in 2021 and is unavailable to be 
claimed in 2022. IRS is keeping the OMB approval active on the 
collection, in case, Congress reauthorizes the credit for future tax 
years.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals or households.
    Estimated Number of Respondents: 5,146.
    Estimated Time per Response: 30 minutes.
    Estimated Total Annual Burden Hours: 2,573.
    13. Title: TEFAC Compliance Check Report.
    OMB Number: 1545-2026.
    Form Number: 13797.
    Abstract: This form will be provided to tribes who elect to perform 
a self-compliance check on any or all their entities. This is a 
VOLUNTARY

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program, and the entity is not penalized for non-completion of forms or 
withdrawal from the program. Upon completion, the information will be 
used by the Tribe and ITG to develop training needs, compliance 
strategies, and corrective actions.
    Current Actions: There is no change in the paperwork burden 
previously approved by OMB. This form is being submitted for renewal 
purposes only.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Businesses and other for-profit organizations and 
State, Local, or Tribal Government.
    Estimated Number of Respondents: 20.
    Estimated Time per Respondent: 22 hours 20 min.
    Estimated Total Annual Burden Hours: 447.
    Authority: 44 U.S.C. 3501 et seq.

Melody Braswell,
Treasury PRA Clearance Officer.
[FR Doc. 2022-23309 Filed 10-25-22; 8:45 am]
BILLING CODE 4830-01-P