[Federal Register Volume 89, Number 123 (Wednesday, June 26, 2024)]
[Notices]
[Pages 53478-53479]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-13990]


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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 July 26, 2024 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: Methods to Determine Taxable Income in connection with a 
Cost Sharing Arrangement--IRC section 482.
    OMB Number: 1545-1364.
    Treasury Decision Numbers: 9568.
    Abstract: This document contains final regulations regarding 
methods to determine taxable income in connection with a cost sharing 
arrangement under section 482 of the Internal Revenue Code (Code). The 
final regulations address issues that have arisen in administering the 
current cost sharing regulations. The final regulations affect domestic 
and foreign entities that enter into cost sharing arrangements 
described in the final regulations.
    Current Actions: There are no changes to the information 
collection.
    Type of Review: Extension without change of a currently approved 
collection.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents: 500.
    Estimated Time per Response: 18 hours, 42 minutes.
    Estimated Total Annual Burden Hours: 9,350.

    2. Title: IRS e-file Signature Authorization for Forms 720, 2290, 
and 8849.
    OMB Number: 1545-2081.
    Form Number: 8879-EX.
    Abstract: Form 8879-EX, IRS e-file Signature Authorization for 
Forms 720, 2990, and 8849, will be used in the Modernized e-File 
program. Form 8879-EX authorizes a taxpayer and an electronic return 
originator (ERO) to use a personal identification number (PIN) to 
electronically sign an electronic excise tax return and, if applicable, 
authorize an electronic funds withdrawal.
    Current Actions: There are no changes being made to the form at 
this time.
    Type of Review: Extension of a previously approved collection.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents: 15,000.
    Estimated Time per Respondent: 1 hr., 12 mins.
    Estimated Total Annual Burden Hours: 16,750.

    3. Title: IRS Paid Preparer Tax Identification Number (PTIN) 
Application and Renewal.
    OMB Number: 1545-2190.
    Form Project Number: Form W-12.
    Abstract: A paid tax preparer uses Form W-12 to apply and renew for 
a preparer tax identification number (PTIN).
    Current Actions: Updates to the indicators used to calculate burden 
for Form W-12 will increase the overall burden estimate by 1,740,000 
hours.
    Type of Review: Revision of a currently approved collection.
    Affected Public: Individuals, business, or other for-profit 
organization.
    Estimated Number of Responses: 1,200,000.
    Estimated Time per Respondent: 2 hrs., 40 min.
    Estimated Total Annual Burden Hours: 3,204,000.

    4. Title: Application for Employee Retention Credit (ERC) Voluntary 
Disclosure Program.
    OMB Number: 1545-2316.
    Form Number: 15434.
    Abstract: The Employee Retention Credit Voluntary Disclosure 
Program (ERC-VDP) was created in order to provide a streamlined avenue 
for taxpayers to return funds for improperly claimed ERC credits and be 
afforded a 20% reduction in the amount to return.
    To participate in the initiative, taxpayers must submit information 
about the improper ERC claimed, refund received, their identifying 
information, and the identifying information of any preparer/advisor 
who assisted them with the ERC claim.
    Current Actions: There are no changes to the form at this time. 
This notice is

[[Page 53479]]

administrative process to renew the OMB approval on the form.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals and Households.
    Estimated Number of Respondents: 5,000.
    Estimated Time per Respondent: 2 hrs., 22 mins.
    Estimated Total Annual Burden Hours: 11,800.

    5. Title: Miscellaneous Changes Under the SECURE 2.0 Act of 2022.
    OMB Number: 1545-2317.
    Notice Number: 2024-2.
    Abstract: Section 72(t)(1) generally imposes a 10 percent 
additional tax on any distribution from a qualified retirement plan 
within the meaning of section 4974(c), unless the distribution 
qualifies for one of the exceptions listed in section 72(t)(2). Section 
72(t)(2)(L)(iii) provides that, in order to be considered a terminally 
ill individual, an employee must furnish sufficient evidence to the 
plan administrator. This information will be used by a plan 
administrator to determine whether an individual is eligible for a 
terminal illness distribution and thus eligible for the exception to 
the 10 percent additional tax under section 72(t)(2)(L).
    Current Actions: There are no changes to the notice at this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals and Households.
    Estimated Number of Respondents: 225,500.
    Estimated Time per Respondent: 15 mins.
    Estimated Total Annual Burden Hours: 11,375.
    Authority: 44 U.S.C. 3501 et seq.

Melody Braswell,
Treasury PRA Clearance Officer.
[FR Doc. 2024-13990 Filed 6-25-24; 8:45 am]
BILLING CODE 4830-01-P