[Federal Register Volume 88, Number 155 (Monday, August 14, 2023)]
[Notices]
[Page 55123]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-17399]



[[Page 55123]]

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DEPARTMENT OF THE TREASURY


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

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 should be received on or before September 13, 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.
    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: Pre-Filing Registration for Elective Payment and Transfer 
Elections.
    OMB Number: 1545-NEW.
    Type of Review: New information collection request.
    Description: The collection of information contains reporting and 
recordkeeping requirements. The recordkeeping requirements are 
considered general tax records under Section 1.6001-1(e). These records 
are required for IRS to validate that taxpayers have met the regulatory 
requirements and are entitled to transfer the credits. For PRA 
purposes, general tax records are already approved by OMB under 1545-
0047 for tax-exempt organizations and government entities; under 1545-
0074 for individuals; and under 1545-0123 for business entities.
    These reporting requirements include a requirement to register with 
IRS to make the elective payment election or the transfer election in 
Sec. Sec.  1.48D-6T, 1.6417-5T, 1.6418-4T. This pre-filing registration 
requirement is being submitted to OMB and will be processed in 
accordance with the PRA as required by 5 CFR 1320.10. This collection 
of information is necessary to prevent duplication, fraud, improper 
payments, or excessive payments under sections 48D, 6417 and 6418 of 
the Code. The IRS is seeking a new OMB control number (1545-NEW) for 
the pre-registration requirements.
    Form: Advanced Manufacturing Investment Credit 1.48D-6T(c), 
Elective Payment of Applicable Credits 1.6417-5T, Transfer of Certain 
Credits 1.6418-4T.
    Affected Public: Private Sector.
    (1) Under section 48D, taxpayers eligible to elect the elective 
payment election of the advanced manufacturing investment credit.
    Estimated total annual reporting burden: 271 hours.
    Estimated average annual burden per respondent: 5.41 hours.
    Estimated number of respondents: 50.
    (2) Under section 6417, tax-exempt organizations, State and local 
governments, Indian tribal governments, Alaska Native Corporations, the 
Tennessee Valley Authority, rural electric cooperatives, and certain 
taxpayers eligible to elect the elective payment of applicable credits 
in a taxable year.
    Estimated total annual reporting burden: 126,200 hours.
    Estimated average annual burden per respondent: 6.31 hours.
    Estimated number of respondents is: 20,000.
    (3) Under section 6418, eligible taxpayers that elect to transfer 
eligible credits in a taxable year.
    Estimated total annual reporting burden: 308,000 hours.
    Estimated average annual burden per respondent: 6.16 hours.
    Estimated number of respondents: 50,000.
    Authority: 44 U.S.C. 3501 et seq.

Melody Braswell,
Treasury PRA Clearance Officer.
[FR Doc. 2023-17399 Filed 8-11-23; 8:45 am]
BILLING CODE 4830-01-P