[Federal Register Volume 88, Number 154 (Friday, August 11, 2023)]
[Notices]
[Pages 54709-54710]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-17196]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Extension of Information Collection Request Submitted 
for Public Comment; Withholding of Tax and Information Reporting With 
Respect to Interests in Partnerships Engaged in a U.S. Trade or 
Business

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

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SUMMARY: The Internal Revenue Service (IRS), 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. The IRS is soliciting comments 
concerning withholdings of tax and information reporting with respect 
to certain dispositions of interests in partnerships engaged in a trade 
or business within the United States.

DATES: Written comments should be received on or before October 10, 
2023 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 to [email protected]. Please reference the 
information collection's ``OMB number 1545-2292'' in the subject line 
of the message.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or

[[Page 54710]]

copies of the regulations should be directed to Sara Covington, at 
(202) 317-5744, or Internal Revenue Service, Room 6526, 1111 
Constitution Avenue NW, Washington, DC 20224, or through the internet, 
at [email protected].

SUPPLEMENTARY INFORMATION: 
    Title: Withholding of Tax and Information Reporting With Respect to 
Interests in Partnerships Engaged in a U. S. Trade or Business.
    OMB Control Number: 1545-2292.
    Regulation Project Number: TD 9926.
    Abstract: These final regulations under section 1446(f) provide 
guidance related to the withholding of tax and information reporting 
with respect to certain dispositions of interests in partnerships 
engaged in a trade or business within the United States. The final 
regulations affect certain foreign persons that recognize gain or loss 
from the sale or exchange of an interest in a partnership that is 
engaged in a trade or business within the United States, and persons 
that acquire those interests. The final regulations also affect 
partnerships that, directly or indirectly, have foreign persons as 
partners.
    Current Actions: There is no change to existing regulation.
    Type of Review: Extension without change of a currently approved 
collection.
    Affected Public: Business or other for-profit organizations and 
individuals.
    Estimated Number of Respondents: 76,000.
    Estimated Time per Respondent: 40 minutes.
    Estimated Total Annual Burden Hours: 50,920.
    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 f 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: August 7, 2023.
Sara L. Covington,
IRS Tax Analyst.
[FR Doc. 2023-17196 Filed 8-10-23; 8:45 am]
BILLING CODE 4830-01-P