[Federal Register Volume 89, Number 147 (Wednesday, July 31, 2024)]
[Notices]
[Pages 61586-61592]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-16844]


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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 30, 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: Payout Requirements for Type III Supporting Organizations 
that are not Functionally Integrated.
    OMB Number: 1545-2157.
    Regulation Project Number: TD 9605.
    Abstract: This document contains final regulations regarding the 
requirements to qualify as a Type III supporting organization that is 
operated in connection with one or more supported organizations. The 
regulations reflect changes to the law made by the Pension Protection 
Act of 2006. The regulations will affect Type III supporting 
organizations and their supported organizations.
    Current Actions: There is no change in the paperwork burden 
previously approved by OMB. However, the estimated number of responses 
were updated based on current filing data.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Not-for-profit institutions, State, local or 
Tribal governments.
    Estimated Number of Respondents: 6,089.
    Estimated Time per Respondent: 2 hours.
    Estimated Total Annual Burden Hours: 12,178.
    2. Title: Limited Payability Claim Against the United States for 
Proceeds of An Internal Revenue Refund Check.
    OMB Number: 1545-2024.
    Document Number: 13818.
    Abstract: Form 13818, Limited Payability Claim Against the United 
States for the Proceeds of an Internal Revenue Refund Check, is sent to 
the payee (taxpayer). This form is designed to provide taxpayers a 
method to file a claim for a replacement check when the original check 
is over 12 months old.
    Current Actions: There are no changes to the burden previously 
approved by OMB. This request is to extend the current approval for 
another 3 years.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals or households, Businesses, and other 
for-profit organizations.
    Estimated Number of Respondents: 6,000.
    Estimated Time per Respondent: 1 hr.
    Estimated Total Annual Burden Hours: 6,000.
    3. Title: U.S. Information Return-Trust Accumulation of Charitable 
Amounts.
    OMB Number: 1545-0094.
    Form Number: 1041-A.
    Abstract: Form 1041-A is used to report the information required in 
Internal Revenue Code section 6034 concerning accumulation and 
distribution of charitable amounts. Trusts claiming a contributions 
deduction under section 642(c) or split-interest trusts described in 
section 4947(a)(2) use Form 1041-A to report information required by 
section 6034.
    Current Actions: There are changes (reduction in filers) in the 
paperwork burden previously approved by OMB. The Tax Cuts and Jobs Act 
of 2017 (Pub. L. 115-97) amended section 641(c)(2). As a result, 
Electing Small Business Trusts (ESBTs) are no longer subject to the 
charitable information reporting requirements under section 6034 and do 
not file Form 1041-A. This form is being submitted for renewal purposes 
only.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Businesses or other for-profit organizations, and 
individuals.
    Estimated Number of Respondents: 6,700.
    Estimated Time per Respondent: 36 hours, 40 minutes.
    Estimated Total Annual Burden Hours: 245,622.
    4. Title: Information Reporting Requirements under Code sec. 6039.
    OMB Number: 1545-2129.
    Document Number: Forms 3921 and 3922.
    Abstract: Form 3921 is a copy of the information return filed with 
the Internal Revenue Service by the corporation which transferred 
shares of stock to a recipient. Form 3922 is used by the corporation to 
record a transfer of the legal title of a share of stock acquired by 
the employee where the stock was acquired pursuant to the exercise of 
an option described in Internal Revenue Code section 423(c). Treasury 
Decision 9470 contains the final regulations relating to the return and 
information statement requirements under Internal Revenue Code section 
6039. These regulations reflect changes to section 6039 made by section 
403 of the Tax Relief and Health Care Act of 2006.
    Current Actions: There are no changes to the burden previously 
approved by OMB. This request is to extend the current approval for 
another 3 years.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business and other for-profit organizations.
    Estimated Number of Respondents: 6,676,894.
    Estimated Time per Respondent: 25 min.

[[Page 61587]]

    Estimated Total Annual Burden Hours: 1,457,411.
    5. Title: Product Liability Losses and Accumulations for Product 
Liability Losses.
    OMB Number: 1545-0863.
    Regulation Project Number: T.D. 8096.
    Abstract: T.D. 8096 provides final regulations relating to product 
liability losses and accumulations for the payment of reasonable 
anticipated product liability losses. Changes to the applicable tax law 
were made by the Revenue Act of 1978. Generally, a taxpayer who 
sustains a product liability loss must carry the loss back 10 years. 
However, a taxpayer may elect to have such loss treated as a regular 
net operating loss under section 172. If desired, such election is made 
by attaching a statement to the tax return. This statement will enable 
the IRS to monitor compliance with the statutory requirements.
    Current Actions: There is no change to this existing regulation or 
to the paperwork burden previously approved by OMB.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents: 5,000.
    Estimated Time per Respondent: 30 minutes.
    Estimated Total Annual Burden Hours: 2,500.
    6. Title: Low-Income Housing Credit Agencies Report of 
Noncompliance or Building Disposition.
    OMB Number: 1545-1204.
    Form Number: 8823.
    Abstract: Under Internal Revenue Code section 42(m)(1)(B)(iii), 
state housing credit agencies are required to notify the IRS of any 
building disposition or noncompliance with the low-income housing tax 
credit provisions. A separate form must be filed for each building that 
is not in compliance. The IRS uses this information to determine 
whether the low-income housing credit is being correctly claimed and 
whether there is any credit recapture.
    Current Actions: There are no changes being made to the form at 
this time, changes to the burden estimates are due to IRS most current 
filing data.
    Type of Review: Extension of a currently approved collection.
    Affected Public: State or local government housing credit agencies.
    Estimated Number of Respondents: 14,474.
    Estimated Time per Respondent: 15.16 hours.
    Estimated Total Annual Burden Hours: 219,426.
    7. Title: Refunds and Credits; Periods of Limitations; Financial 
Disability.
    OMB Number: 1545-1649.
    Revenue Procedure: Revenue Procedure 99-21.
    Abstract: Generally, under section 6511(a), a taxpayer must file a 
claim for credit or refund of tax within three years after the date of 
filing a tax return or within two years after the date of payment of 
the tax, whichever period expires later. Under section 6511(h), the 
statute of limitations on claims for credit or refund is suspended for 
any period of an individual taxpayer's life during which the taxpayer 
is unable to manage his or her financial affairs because of a medically 
determinable mental or physical impairment, if the impairment can be 
expected to result in death, or has lasted (or can be expected to last) 
for a continuous period of not less than 12 months.
    Current Actions: There is no change in the paperwork burden 
previously approved by OMB. The revenue procedure is being submitted 
for renewal purposes only.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals or households.
    Estimated Number of Respondents: 48,200.
    Estimated Time per Response: 30 minutes.
    Estimated Total Annual Burden Hours: 24,100.
    8. Title: Statement of Liability of Lender, Surety, or Other Person 
for Withholding Taxes.
    OMB Number: 1545-2254.
    Form Number: Form 4219.
    Abstract: Third parties who directly pay another's payrolls can be 
held liable for the full amount of taxes required to be withheld but 
not paid to the Government (subject to the 25% limitation). IRC 3505 
deals with persons who supply funds to an employer for the purpose of 
paying wages. The notification that a third party is paying or 
supplying wages will usually be made by filing of the Form 4219, 
Statement of Liability of Lender, Surety, or Other Person for 
Withholding Taxes. The Form 4219, Statement of Liability of Lender, 
Surety, or Other Person for Withholding Taxes, is to be submitted and 
associated with each employer and for every calendar quarter for which 
a liability under section 3505 is incurred.
    Current Actions: There have been no changes to the form that would 
affect burden.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Businesses and other for-profit organizations, 
Not-for-profit institutions, Farms, Federal Government, State, Local, 
or Tribal Government.
    Estimated Number of Respondents: 1,000.
    Estimated Time per Respondent: 12 hours, 50 minutes.
    Estimated Total Annual Burden Hours: 12,833.
    9. Title: Itemized Statement Component of Advisee List.
    OMB Number: 1545-1686.
    Form Number: Form 13976.
    Abstract: Internal Revenue Code (IRC) Section 6112, (as amended by 
the American Jobs Creation Act of 2004, Pub. L. 108-357), requires that 
each material advisor with respect to any reportable transaction shall 
maintain (in such manner as the Secretary may by regulations prescribe) 
a list identifying each person with respect to whom the advisor acted 
as a material advisor. Form 13976, Itemized Statement Component of 
Advisee List, may be used by Material Advisors for the purpose of 
preparing and maintaining list with respect to reportable transaction 
under section 6112, but the form is not required to be used under 
301.6112-1, but is offered as an option for maintaining the transaction 
participants list.
    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: Business or other for-profit organizations, 
individuals or households, and not-for-profit institutions.
    Estimated Number of Respondents: 500.
    Estimated Time per Respondent: 100.
    Estimated Total Annual Burden Hours: 50,000 hours.
    10. Title: Information Reporting by Passport Applicants.
    OMB Number: 1545-1359.
    Regulation Number: T.D. 9679.
    Abstract: These final regulations provide information reporting 
rules for certain passport applicants. These final regulations apply to 
certain individuals applying for passports (including renewals) and 
provide guidance to such individuals about the information that must be 
included with their passport application.
    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 or Households.
    Estimated Number of Respondents: 12,133,537.

[[Page 61588]]

    Estimated Time per Response: 6 minutes.
    Estimated Total Annual Burden Hours: 1,213,354 hours.
    11. Title: Manufacturers Excise Taxes on Sporting Goods and 
Firearms and Other Administrative Provisions of Special Application to 
Manufacturers and Retailers Excise Taxes Reporting and Recordkeeping 
Requirements.
    OMB Number: 1545-0723.
    Regulation Project Number: T.D. 8043.
    Abstract: Chapters 31 and 32 of the Internal Revenue Code impose 
excise taxes on the sale or use of certain articles. Code section 6416 
allows a credit or refund of the tax to manufacturers in certain cases. 
Code sections 6420, 6421, and 6427 allow credits or refunds of the tax 
to certain users of the articles. This regulation contains reporting 
and recordkeeping requirements that enable the IRS and taxpayers to 
verify that the proper amount of tax is reported or excluded.
    Current Actions: There is no change in the paperwork burden 
previously approved by OMB. The regulation is being submitted for 
renewal purposes only.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit or not-for-profit 
institutions.
    Estimated Number of Respondents: 1,500,000.
    Estimated Time per Response: 19 minutes.
    Estimated Total Annual Burden Hours: 475,000.
    12. Title: Guidance under Sections 897, 1445, and 6109 to require 
use of Taxpayer Identifying Numbers on Submission under the Section 897 
and 1445.
    OMB Number: 1545-1797.
    Document Number: TD 9082, TD 9751.
    Abstract: The collection of information relates to applications for 
withholding certificates under section 1.1445-3 to be filed with the 
IRS with respect to (1) dispositions of U.S. real property interests 
that have been used by foreign persons as a principle residence within 
the prior 5 years and excluded from gross income under section 121 and 
(2) dispositions of U.S. real property interests by foreign persons in 
deferred like kind exchanges that qualify for nonrecognition under 
section 1031.
    Current Actions: There are no changes to the burden previously 
approved by OMB. This request is to extend the current approval for 
another 3 years.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals or households and Business or other 
for-profit.
    Estimated Number of Respondents: 50.
    Estimated Time per Respondent: 2 hrs.
    Estimated Total Annual Burden Hours: 100.
    13. Title: Claim for Refund and Request for Abatement.
    OMB Number: 1545-0024.
    Form Number: 843.
    Abstract: Internal Revenue Code section 6402, 6404, and sections 
301.6402-2, 301.6404-1, and 301.6404-3 of the regulations allow for 
refunds of taxes (except income taxes) or refund, abatement, or credit 
of interest, penalties, and additions to tax in the event of errors or 
certain actions by the IRS. Form 843 is used by taxpayers to claim 
these refunds, credits, or abatements.
    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: Business or other for-profit organizations, 
individuals or households, not-for-profit institutions, farms, and 
State, local or Tribal governments.
    Estimated Number of Responses: 550,500.
    Estimated Time per Respondent: 1 hr., 35 min.
    Estimated Total Annual Burden Hours: 875,295.
    14. Title: Disclosure of Tax Return Information for Purposes of 
Quality or Peer Reviews, Due to Incapacity or Death of Tax Return 
Preparer.
    OMB Number: 1545-1209.
    Regulation Project Number: TD 8383.
    Abstract: These regulations govern the circumstances under which 
tax return information may be disclosed for purposes of conducting 
quality or peer reviews, and disclosures that are necessary because of 
the tax return preparer's death or incapacity.
    Current Actions: There is no change to this existing regulation.
    Type of Review: Extension of currently approved collection.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents: 250,000.
    Estimated Time per Respondent: 1 hour.
    Estimated Total Annual Burden Hours: 250,000.
    15. Title: Application for Determination of Employee Stock 
Ownership Plan (ESOP).
    OMB Number: 1545-0284.
    Form Number: 5309.
    Abstract: Internal Revenue Code section 404(a) allows employers an 
income tax deduction for contributions to their qualified deferred 
compensation plans. Form 5309 is used to request an IRS determination 
letter about whether the plan is qualified under Code section 409 or 
4975(e)(7).
    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: Business or other for-profit organizations.
    Estimated Number of Respondents: 3,655.
    Estimated Time per Respondent: 10 hours, 47 minutes.
    Estimated Total Annual Burden Hours: 39,437.
    16. Title: Special Rules and Certificate of Partner-Level Items to 
Reduce Section 1446 Withholding.
    OMB Number: 1545-1934.
    Regulation and Form Number: T.D. 9394 and Form 8404-C.
    Abstract: T.D. 9394 contains final regulations regarding when a 
partnership may consider certain deductions and losses of a foreign 
partner to reduce or eliminate the partnership's obligation to pay 
withholding tax under section 1446 on effectively connected taxable 
income allocable under section 704 to such partner. Form 8804-C is used 
by a foreign partner that voluntary submit to the partnership if it 
chooses to provide a certification that could reduce or eliminate the 
partnership's withholding tax obligation under section 1446 (1446 tax) 
on the partner's allocable share of effectively connected income (ECTI) 
from the partnership.
    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, 
Individuals or Households, and Not-for-Profit Organizations.

Form 8804-C

    Estimated Number of Respondents: 1,000.
    Estimated Time per Response: 18.7 hours.
    Estimated Total Annual Burden Hours: 18,700 hours.
    17. Title: Electronic Deposit of Tax Refund of $1 Million of More.
    OMB Number: 1545-1763.
    Form Number: Form 8302.
    Abstract: Form 8302 is used to report an electronic deposit of a 
tax refund of $1 millon or more directly into an account at any U.S. 
bank or other

[[Page 61589]]

financial institution that accepts electronic deposits.
    Current Actions: There is no change to the existing collection. 
However, the estimated number of responses was updated based on current 
filing data.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Businesses or other for-profit organizations.
    Estimated Number of Responses: 160.
    Estimated Time per Respondent: 1 hours, 42 minutes.
    Estimated Total Annual Burden Hours: 272.
    18. Title: Electronic Filing of Form W-4.
    OMB Number: 1545-1435.
    Regulation Number: T.D. 8706.
    Abstract: Information is required by the Internal Revenue Service 
to verify compliance with regulation section 31.3402(f)(2)-1(g)(1), 
which requires submission to the Service of certain withholding 
exemption certificates. The affected respondents are employers that 
choose to make electronic filing of Forms W-4 available to their 
employees.
    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: Business or other for-profit organizations, not 
for-profit institutions, and Federal, State, local or Tribal 
governments.
    Estimated Number of Respondents: 2,000.
    Estimated Number of Responses: 160,000.
    Estimated Time per Response: 15 minutes.
    Estimated Total Annual Burden Hours: 40,000 hours.
    19. Title: Cancellation of Debt.
    OMB Number: 1545-1424.
    Form Number: 1099-C.
    Regulation Project Number: TD 9793.
    Abstract: This form is used by Federal Government agencies, 
financial institutions, and credit unions to report the cancellation or 
forgiveness of a debt of $600 or more, as required by section 6050P of 
the Internal Revenue Code. The IRS uses the form to verify compliance 
with the reporting rules and to verify that the debtor has included the 
proper amount of canceled debt in income on his or her income tax 
return.

TD 9793

    Abstract: These regulations under section 6050P of the Internal 
Revenue Code (Code), relating to the rule in Sec.  1.6050P-1(b)(2)(iv) 
that the 36-month non-payment testing period is an identifiable event 
triggering an information reporting obligation on Form 1099-C for 
discharge of indebtedness by certain entities.
    Current Actions: There are no changes being made to the form or 
regulation at this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations, not-
for-profit institutions, and the Federal Government.
    Estimated Number of Responses: 6,540,900.
    Estimated Time per Response: 13 minutes.
    Estimated Total Annual Burden Hours: 1,438,998.
    20. Title: Credit for Increasing Research Activities.
    OMB Number: 1545-0619.
    Form Number: 6765.
    Abstract: Internal Revenue Code section 38 allows a credit against 
income tax (Determined under IRC section 41) for an increase in 
research activities in a trade or business. Form 6765 is used by 
businesses and individuals engaged in a trade or business to figure and 
report the credit. The data is used to verify that the credit claimed 
is correct.
    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: Business or other for-profit organizations, 
individuals, and not-for-profit institutions.
    Estimated Number of Respondents: 15,805.
    Estimated Time per Respondent: 18 hours, 3 minutes.
    Estimated Total Annual Burden Hours: 285,281 hours.
    21. Title: Request for Change in Plan/Trust Year (Form 5308).
    OMB Number: 1545-0201.
    Form Number: Form 5308.
    Abstract: Form 5308 is used to request permission to change the 
plan or trust year for a pension benefit plan. The information 
submitted is used in determining whether IRS should grant permission of 
the change.
    Current Actions: There is no change to the existing collection. 
However, the time per respondent was recalculated for a better 
estimate.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Businesses or other for-profit organizations.
    Estimated Number of Responses: 3.
    Estimated Time per Respondent: 7 hours, 54 minutes.
    Estimated Total Annual Burden Hours: 24.
    22. Title: Treaty-Based Return Position Disclosure.
    OMB Number: 1545-1354.
    Document Number: 8833.
    Abstract: Revenue Procedure 2010-19 provides guidance for 
individuals who emigrate from Canada and wish to make an election for 
U.S. federal income tax purposes. Form 8833 is used by taxpayers to 
make the treaty-based return position disclosure required by section 
6114.
    Current Actions: There are no changes to the burden previously 
approved by OMB. This request is to extend the current approval for 
another 3 years.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business and other for-profit organizations.
    Estimated Number of Respondents: 4,100.
    Estimated Time per Respondent: 7 hrs., 25 min.
    Estimated Total Annual Burden Hours: 25,740.
    23. Title: Continuation Coverage Requirements Application to Group 
Health Plans.
    OMB Number: 1545-1581.
    Regulation Number: REG-209485-86 (TD 8812).
    Abstract: The regulations require group health plans to provide 
notices to individuals who are entitled to elect COBRA (The 
Consolidated Omnibus Budget Reconciliation Act of 1985) continuation 
coverage of their election rights. Individuals who wish to obtain the 
benefits provided under the statute are required to provide plans 
notices in the cases of divorce from the covered employee, a dependent 
child's ceasing to be dependent under the terms of the plan, and 
disability. Most plans will require that elections of COBRA 
continuation coverage be made in writing. In cases where qualified 
beneficiaries are short by an insignificant amount in a payment made to 
the plan, the regulations require the plan to notify the qualified 
beneficiary if the plan does not wish to treat the tendered payment as 
full payment. If a health care provider contacts a plan to confirm 
coverage of a qualified beneficiary, the regulations require that the 
plan disclose the qualified beneficiary's complete rights to coverage.
    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: Business or other for-profit organizations, 
individuals or households, and not-for-profit institutions.

[[Page 61590]]

    Estimated Number of Respondents: 12,079,600.
    Estimated Time per Response: Varies from 30 seconds to 330 hours, 
depending on individual circumstances, with an estimated average of 14 
minutes.
    Estimated Total Annual Burden Hours: 404,640 hours.
    24. Title: Monthly Tax Return for Wagers (Form 730).
    OMB Number: 1545-0235.
    Form Number: Form 730.
    Abstract: Form 730 is used to identify taxable wagers under 
Internal Revenue Code section 4401 and collect the tax monthly. The 
information is used to determine if persons accepting wagers are 
correctly reporting the amount of wagers and paying the required tax.
    Current Actions: There is no change to the existing collection. 
However, the estimated number of responses was updated based on current 
filing data.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Businesses or other for-profit organizations.
    Estimated Number of Responses: 17,796.
    Estimated Time per Respondent: 8 hours, 11 minutes.
    Estimated Total Annual Burden Hours: 145,749.
    25. Title: Carryover of Passive Activity Losses and Credits and At-
Risk losses to Bankruptcy Estates for Individuals.
    OMB Number: 1545-1375.
    Regulation Project Number: T.D. 8537.
    Abstract: These regulations relate to the application of carryover 
of passive activity losses and credits and at risk losses to the 
bankruptcy estates of individuals. The final regulations affect 
individual taxpayers who file bankruptcy petitions under chapter 7 or 
chapter 11 of title 11 of the United States Code and have passive 
activity losses and credits under section 469 or losses under section 
465.
    Current Actions: There are no changes being made to this existing 
regulation or to the paperwork burden previously approved by OMB.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals or households.
    Estimated Number of Respondents: 500.
    Estimated Time per Respondent: 12 Minutes.
    Estimated Total Annual Burden Hours: 100.
    26. Title: Adjustments to Basis of Stock and Indebtedness to 
Shareholders of S Corporations and Treatment of Distributions by S 
Corporations to Shareholders.
    OMB Number: 1545-1139.
    Regulation Project Number: TD 9300 and TD 9428.
    Abstract: This document contains final regulations relating to the 
passthrough of items of an S corporation to its shareholders, the 
adjustments to the basis of stock of the shareholders, and the 
treatment of distributions by an S corporation. Changes to the 
applicable law were made by the Subchapter S Revision Act of 1982, the 
Tax Reform Act of 1984, the Tax Reform Act of 1986, the Technical and 
Miscellaneous Revenue Act of 1988, and the Small Business Job 
Protection Act of 1996. These regulations provide the public with 
guidance needed to comply with the applicable law and will affect S 
corporations and their shareholders.
    Current Actions: There are no changes being made to this existing 
regulation or to the paperwork burden previously approved by OMB.
    Type of Review: Extension of currently approved collection.
    Affected Public: Business or other for-profit organizations and 
individuals.
    Estimated Number of Responses: 2,000.
    Estimated Time per Respondent: 6 minutes.
    Estimated Total Annual Burden Hours: 200.
    27. Title: Salary Reduction Simplified Employee Pension--Individual 
Retirement Accounts Contribution Agreement.
    OMB Number: 1545-1012.
    Document Number: 5305A SEP.
    Abstract: Form 5305A-SEP is used by an employer to make an 
agreement to provide benefits to all employees under a Simplified 
Employee Pension (SEP) described in Internal Revenue Code section 
408(k). This form is not to be filed with the IRS, but is to be 
retained in the employer's records as proof of establishing a SEP and 
justifying a deduction for contributions made to the SEP.
    Current Actions: There are no changes to the burden previously 
approved by OMB. This request is to extend the current approval for 
another 3 years.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business and other for-profit organizations.
    Estimated Number of Respondents: 100,000.
    Estimated Time per Respondent: 9 hrs., 43 min.
    Estimated Total Annual Burden Hours: 972,000.
    28. Title: PTIN Supplemental Application for U.S. Citizens Without 
A Social Security Number Due to Conscientious Religious Objection.
    OMB Number: 1545-2188.
    Form Number: 8945.
    Abstract: Form 8945 is used by U.S. citizens who are members of 
certain recognized religious groups that want to prepare tax returns 
for compensation. Most individuals applying for a Preparer Tax 
Identification Number (PTIN) will have a social security number, which 
will be used to help establish their identity. However, there exists a 
population of U.S. residents that are religious objectors and do not 
have social security numbers. Form 8945 was created to assist that 
population in establishing their identity while applying for a PTIN.
    Current Actions: There is no change in the paperwork burden 
previously approved by OMB. This form is being submitted for renewal 
purposes.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Businesses and other for-profit organizations.
    Estimated Number of Respondents: 500.
    Estimated Time per Respondent: 7 hours, 11 min.
    Estimated Total Annual Burden Hours: 3,590.
    29. Title: Diesel Fuel and Kerosene Excise Tax; Dye Injection.
    OMB Number: 1545-1418.
    Regulation Project Number: TD 9199.
    Abstract: This document contains regulations relating to the diesel 
fuel and kerosene excise tax. These regulations reflect changes made by 
the American Jobs Creation Act of 2004 regarding mechanical dye 
injection systems for diesel fuel and kerosene. These regulations 
affect certain enterers, refiners, terminal operators, and through 
putters.
    Current Actions: There are no changes to the burden previously 
approved by OMB. This request is to extend the current approval for 
another 3 years.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business and other for-profit organizations.
    Estimated Number of Respondents: 1.
    Estimated Time per Respondent: 1 hr.
    Estimated Total Annual Burden Hours: 1.
    30. Title: Acquisition or Abandonment of Secured Property.
    OMB Number: 1545-0877.
    Form Number: 1099-A.
    Abstract: This form is used by persons who lend money in connection 
with a trade or business, and who acquire an interest in the property 
that is security for the loan or who have reason to know that the 
property has been abandoned, to report the acquisition or abandonment.

[[Page 61591]]

    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: 466,000.
    Estimated Time per Response: 10 minutes.
    Estimated Total Annual Burden Hours: 74,560.
    31. Title: Sales of Business Property.
    OMB Number: 1545-0184.
    Form Number: Form 4797.
    Abstract: Form 4797 is used by taxpayers to report sales, 
exchanges, or involuntary conversions of assets used in a trade or 
business. It is also used to compute ordinary income from recapture and 
the recapture of prior year losses under section 1231 of the Internal 
Revenue Code.
    Current Actions: There are no changes being made to the form at 
this time. The forms are being submitted for renewal purposes only.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations, 
individuals or households, and farms.
    Estimated Number of Respondents: 211,536.
    Estimated Time per Response: 51 hours, 7 minutes.
    Estimated Total Annual Burden Hours: 10,813,730.
    32. Title: Information Regarding Beneficiaries Acquiring Property 
From a Decedent.
    OMB Number: 1545-2264.
    Form Number: 8971.
    Abstract: The Surface Transportation and Veterans Health Care 
Choice Improvement Act of 2015 requires executors of an estate and 
other persons who are required to file a Form 706, Form 706-NA, or Form 
706-A, to report to the Internal Revenue Service (IRS) and to each 
beneficiary receiving property from an estate tax value of the 
property, if the return is filed after July 31, 2015. Form 8971 is used 
to report to the IRS and a Schedule A will be sent to each beneficiary 
and a copy of each Schedule A will be attached to the Form 8971. Some 
property received by a beneficiary may have a consistency requirement, 
meaning that the beneficiary must use the value reported on the 
Schedule A as the beneficiary's initial basis of the property. A 
beneficiary is an individual, trust, or other estate who has acquired 
(or is expected to acquire) property from the estate. If the executor 
is also a beneficiary who has acquired (or is expected to acquire) 
property from the estate, the executor is a beneficiary for purposes of 
the Form 8971 and the attached Schedule A.
    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: Individuals, business or other for-profit 
organization, and not-for-profit institutions.
    Estimated Number of Responses: 10,000.
    Estimated Time per Response: 20 hours.
    Estimated Total Annual Burden Hours: 200,000.
    33. Title: ABLE Account Contribution Information; Distributions 
from ABLE Accounts.
    OMB Number: 1545-2262.
    Form Numbers: 5498-QA; 1099-QA.
    Abstract: Form 5498-QA, ABLE Account Contributions Information. 
Public Law 113-295, ABLE Act of 2014 allows individuals and families to 
set money aside in this special account for the purpose of supporting 
individuals with disabilities to maintain health, independence, and 
quality of life, without impacting eligibility for other social service 
financial assistance programs such as Medicaid. Form 1099-QA allows 
these individuals and families to draw from the special account.
    Current Actions: There are no changes being made to the forms at 
this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals or households.
    Estimated Number of Responses: 20,000.
    Estimated Time per Respondent: 22 minutes.
    Estimated Total Annual Burden Hours: 3,600.
    34. Title: Mortgage Credit Certificates (MCCs).
    OMB Number: 1545-0922.
    Regulation Project Number: Form 8329 and Form 8330.
    Abstract: Mortgage Credit Certificates provide qualified holders of 
the certificates with a credit against income tax liability. In 
general, an Issuer elects to establish a mortgage credit certificate 
program in lieu of issuing qualified mortgage revenue bonds. Section 25 
of the Code permits states and political subdivisions to elect to issue 
Mortgage Credit Certificates in lieu of qualified mortgage revenue 
bonds. Form 8329 is used by lending institutions and Form 8330 is used 
by state and local governments to provide the IRS with information on 
the issuance of mortgage credit certificates (MCCs) authorized under 
Internal Revenue Code section 25. IRS matches the information supplied 
by lenders and issuers to ensure that the credit is computed properly.
    Current Actions: There is no change to the burden previously 
approved.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents: Form 8329--10,000; Form 8330--
2,000.
    Estimated Time per Respondent: Form 8329--5 hrs. 53 min.; Form 
8330--7 hrs. 28 min.
    Estimated Total Annual Burden Hours: Form 8329--58,800; Form 8330--
14,920.
    35. Title: Passive Activity Loss Limitations.
    OMB Number: 1545-1008.
    Form Number: 8582.
    Abstract: Internal Revenue Code section 469 limits the passive 
activity losses that a taxpayer may deduct. The passive activity losses 
from passive activities, to the extent that they exceed income from 
passive activities, cannot be deducted against nonpassive income. Form 
8582 is used to figure the passive activity loss allowed and the actual 
loss to be reported on the tax returns.
    Current Actions: There is no change to the form at this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals or households, estates, and trusts.
    Estimated Number of Respondents: 400,000.
    Estimated Time per Respondent: 3 hours, 12 minutes.
    Estimated Total Annual Burden Hours: 1,280,000.
    36. Title: Payments from Qualified Education Programs (Under 
Sections 529 and 530).
    OMB Number: 1545-1760.
    Form Number: Form 1099-Q.
    Abstract: Form 1099-Q is used to report distributions from private 
and state qualified tuition programs as required under Internal Revenue 
Code sections 529 and 530.
    Current Actions: There are no changes to the burden previously 
approved by OMB. This submission is for renewal purposes.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Businesses or other for-profit organizations.
    Estimated Number of Responses: 3,649,000.
    Estimated Time per Respondent: 13 minutes.
    Estimated Total Annual Burden Hours: 802,780.
    37. Title: Optional Election to Make Monthly 706(a) Computations.

[[Page 61592]]

    OMB Number: 1545-1768.
    Revenue Procedure Number: 2003-84.
    Abstract: This procedure allows certain partnerships that invest in 
tax-exempt obligations to make an election that enables the partners to 
take into account monthly the inclusions required under sections 702 
and 707(c) of the Code and provides rules for partnership income tax 
reporting under section 6031 for such partnerships. Rev. Proc. 2002-68 
modified and superseded.
    Current Actions: There are no changes being made to the revenue 
procedure at this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents: 1,000.
    Estimated Time per Respondent: 30 mins.
    Estimated Total Annual Burden Hours: 500.
    38. Title: Excise Tax on Certain Transfers of Qualifying Geothermal 
or Mineral Interests.
    OMB Number: 1545-2099.
    Form Number: 8924.
    Abstract: This form is required by Section 403 of the Tax Relief 
and Health Care Act of 2006 which imposes an excise tax on certain 
transfers of qualifying mineral or geothermal interests.
    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 Respondents: 20.
    Estimated Time per Respondent: 5 hours, 32 minutes.
    Estimated Total Annual Burden Hours: 111.
    Authority: 44 U.S.C. 3501 et seq.

Melody Braswell,
Treasury PRA Clearance Officer.
[FR Doc. 2024-16844 Filed 7-30-24; 8:45 am]
BILLING CODE 4830-01-P