[Federal Register Volume 88, Number 142 (Wednesday, July 26, 2023)]
[Notices]
[Pages 48289-48291]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-15822]


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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 public is invited to submit comments on these requests.

DATES: Comments should be received on or before August 25, 2023 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 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: W-2 (Wage and Tax Statement), W-2c (Corrected Wage and 
Tax Statement), W-2AS (American Samoa Wage and Tax Statement), W-2GU 
(Guam Wage and Tax Statement), W-2VI (U.S. Virgin Islands Wage and Tax 
Statement), W-3 (Transmittal of Wage and Tax Statements), W-3c 
(Transmittal of Corrected Wage and Tax Statements), W-3PR (Informe de 
Comprobantes de Retenci[oacute]n Transmittal of Withholding 
Statements), W-3c PR (Transmision de Comprobantes de Retenci[oacute]n 
Corregidos, Transmittal of Corrected Wage and Tax Statements), and W-
3SS (Transmittal of Wage and Tax Statements).
    OMB Number: 1545-0008.
    Form Numbers: W-2, W-2c, W-2AS, W-2GU, W-2VI, W-3, W-3PR, W-3c, W-
3cPR, and W-3SS.
    Abstract: Employers report income and withholding information on 
Form W-2. Individuals use Form W-2 to prepare their income tax returns. 
Forms W-2AS, W-2GU and W-2VI are variations of Form W-2 for use in U.S. 
possessions. The Form W-3 series is used to transmit W-2 series forms 
to the Social Security Administration. Forms W-2c, W-3c and W-3cPR are 
used to correct previously filed Forms W-2, W-3, and W-3PR.
    Current Actions: There are no material changes in the paperwork 
burden previously approved by OMB. However, the estimated number of 
responses has increase based on the number of taxpayers filing the 
forms.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations and 
individuals, or households, not-for-profit institutions, farms, and 
Federal, state local or tribal governments.
    Estimated Number of Respondents: 301,441,008.
    Estimated Time per Respondent: varies.
    Estimated Total Annual Burden Hours: 150,594,103.
    2. Title: Application to Use LIFO Inventory Method.
    OMB Number: 1545-0042.
    Form Number: Form 970.
    Abstract: Taxpayers file Form 970 to elect to use the last-in, 
first-out (LIFO) inventory method or to extend the LIFO method to 
additional goods. The IRS uses Form 970 to determine if the election 
was properly made. The estimates in this notice are for estates, 
trusts, and tax-exempt organizations filing Form 970.
    Current Actions: There is no change to the existing collection. 
However, the estimated number of responses was reduced to eliminate 
duplication of burden estimates. The estimated burden for individuals 
filing Form 970 is approved under OMB control number 1545-0074, and the 
estimated burden for businesses filing Form 970 is approved under OMB 
control number 1545-0123.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Private sector.
    Estimated Number of Responses: 100.
    Estimated Time per Respondent: 21 hours, 6 minutes.
    Estimated Total Annual Burden Hours: 2,111.
    3. Title: Investment Credit.
    OMB Number: 1545-0155.
    Form Number: 3468.
    Abstract: Form 3468 is used to compute Taxpayers' credit against 
their income tax for certain expenses incurred for their trades or 
businesses. The information collected is used by the IRS to verify that 
the credit has been correctly computed.
    Current Actions: There are no changes to burden.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents: 2,109.
    Estimated Time per Response: 35 hours, 57 minutes.
    Estimated Total Annual Burden Hours: 75,107.

[[Page 48290]]

    4. Title: General Business Credit.
    OMB Number: 1545-0895.
    Form Number: Form 3800.
    Abstract: Internal Revenue Code section 38 permits taxpayers to 
reduce their income tax liability by the amount of their general 
business credit, which is an aggregation of their investment credit, 
work opportunity credit, welfare-to-work credit, alcohol fuel credit, 
research credit, low-income housing credit, disabled access credit, 
enhanced oil recovery credit, etc. Form 3800 is used to figure the 
correct credit.
    Current Actions: We have made no changes to Form 3800 at this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations, farms, 
and individuals.
    Estimated Number of Respondents: 65,000.
    Estimated Time per Respondent: 33.38 hours.
    Estimated Total Annual Burden Hours: 2,169,700.
    5. Title: Reporting Requirements for Recipients of Points Paid on 
Residential Mortgages and Mortgage Interest Statement.
    OMB Number: 1545-1380.
    Form Number: Form 1098.
    Regulation Project Number: TD 8191 as amended by TD 8507, TD 8571, 
TD 8734, and TD 9849.
    Abstract: Section 6050H provides that an information return must be 
made by any person who is engaged in a trade or business and who, 
during that trade or business, receives from any individual $600 or 
more of interest on any mortgage in a calendar year. Any person 
required to make an information return under section 6050H also must 
furnish a statement to the payor of record on or before January 31 of 
the year following the calendar year in which the interest was 
received. Form 1098, Mortgage Interest Statement, is used to report 
mortgage interest (including points) received during the year.
    Current Actions: There is an increase in the estimated number of 
respondents previously approved by OMB. IRS has increased the number of 
respondents by 16,708,000 based on the projected number of filers from 
IRS Publication 6961. This update to the agency estimate has increased 
the burden by 4,187,000 hours.
    Type of Review: Revision of a currently approved collection.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents: 96,140,044.
    Estimated Number of Responses: 97,358,960.
    Estimated Time per Respondent: 25 minutes.
    Estimated Total Annual Burden Hours: 24,318,656.
    6. Title: Improving Customer Experience (OMB Circular A-11, Section 
280 (Implementation).
    OMB Number: 1545-2290.
    Abstract: A modern, streamlined and responsive customer experience 
means: raising government-wide customer experience to the average of 
the private sector service industry; developing indicators for high-
impact Federal programs to monitor progress towards excellent customer 
experience and mature digital services; and providing the structure 
(including increasing transparency) and resources to ensure customer 
experience is a focal point for agency leadership. This information 
collection activity provides a means to garner customer and stakeholder 
feedback in an efficient, timely manner in accordance with the 
Administration's commitment to improving customer service delivery as 
discussed in Section 280 of OMB Circular A-11 at https://www.whitehouse.gov/wp-content/uploads/2018/06/s280.pdf.
    As discussed in OMB guidance, agencies should identify their 
highest-impact customer journeys (using customer volume, annual program 
cost, and/or knowledge of customer priority as weighting factors) and 
select touchpoints/transactions within those journeys to collect 
feedback. These results will be used to improve the delivery of Federal 
services and programs. It will also provide government-wide data on 
customer experience that can be displayed on www.performance.gov to 
help build transparency and accountability of Federal programs to the 
customers they serve.
    As a general matter, these information collections will not result 
in any new system of records containing privacy information and will 
not ask questions of a sensitive nature, such as sexual behavior and 
attitudes, religious beliefs, and other matters that are commonly 
considered private.
    The Internal Revenue Service will only submit collections if they 
meet the following criteria.
     The collections are voluntary;
     The collections are low-burden for respondents (based on 
considerations of total burden hours or burden-hours per respondent) 
and are low-cost for both the respondents and the Federal Government;
     The collections are non-controversial and do not raise 
issues of concern to other Federal agencies;
     Any collection is targeted to the solicitation of opinions 
from respondents who have experience with the program or may have 
experience with the program in the near future;
     Personally identifiable information (PII) is collected 
only to the extent necessary and is not retained;
     Information gathered is intended to be used for general 
service improvement and program management purposes.
    Upon agreement between OMB and the agency all or a subset of 
information may be released as part of A-11, Section 280 requirements 
only on performance.gov. Summaries of customer research and user 
testing activities may be included in public-facing customer journey 
maps and summaries. Additional release of data must be done coordinated 
with OMB.
    These collections will allow for ongoing, collaborative and 
actionable communications between the Agency, its customers and 
stakeholders, and OMB as it monitors agency compliance on Section 280. 
These responses will inform efforts to improve or maintain the quality 
of service offered to the public. If this information is not collected, 
vital feedback from customers and stakeholders on services will be 
unavailable.
    Current Actions: IRS is requesting an increase in the bank of 
burden hours to cover existing and planned surveys.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals or households; businesses or other 
for-profit organizations; not-for-profit institutions; State, local or 
tribal governments.
    Estimated Number of Respondents: 1,011,000.
    Estimated Time per Respondent: 9 minutes.
    Estimated Total Annual Burden Hours: 150,000.
    Title: Advanced Manufacturing Production Credit.
    7. OMB Number: 1545-2306.
    Form Number: Form 7207.
    Abstract: This form is used to claim the advanced manufacturing 
production credit under section 45x for eligible components produced by 
the taxpayer and sold during the tax year in the taxpayer's trade or 
business to an unrelated person.
    Current Actions: IRS is revising the form and instructions to 
include Inflation Reduction Act of 2022 provisions for Tax Year 2024.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents: 1,000.

[[Page 48291]]

    Estimated Time per Respondent: 3 hours and 56 mins.
    Estimated Total Annual Burden Hours: 3,930 hours.
    Authority: 44 U.S.C. 3501 et seq.

Melody Braswell,
Treasury PRA Clearance Officer.
[FR Doc. 2023-15822 Filed 7-25-23; 8:45 am]
BILLING CODE 4830-01-P