80 FR 17150 - Submission for OMB Review; Comment Request

DEPARTMENT OF THE TREASURY

Federal Register Volume 80, Issue 61 (March 31, 2015)

[Federal Register Volume 80, Number 61 (Tuesday, March 31, 2015)]
[Notices]
[Pages 17150-17151]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-07306]


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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

AGENCY: Department of the Treasury.

ACTION: Notice.

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    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, Public Law 104-13, on or after the date of 
publication of this notice.

DATES: Comments should be received on or before April 30, 2015 to be 
assured of consideration.

ADDRESSES: Send comments regarding the burden estimate, or any other 
aspect of the information collection, including suggestions for 
reducing the burden, to (1) Office of Information and Regulatory 
Affairs, Office of Management and Budget, Attention: Desk Officer for 
Treasury, New Executive Office Building, Room 10235, Washington, DC 
20503, or email at [email protected] and (2) Treasury PRA 
Clearance Officer, 1750 Pennsylvania Ave. NW., Suite 8140, Washington, 
DC 20220, or email at [email protected].

FOR FURTHER INFORMATION CONTACT: Copies of the submission(s) may be 
obtained by calling (202) 927-5331, email at [email protected], or the 
entire information collection request may be found at www.reginfo.gov.

SUPPLEMENTARY INFORMATION: 

Internal Revenue Service

    OMB Number: 1545-1661.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: REG-106010-98 (Final) Qualified Lessee Construction 
Allowance for Short-Term Leases.
    Abstract: The regulations provide guidance with respect to Sec. 
110, which provides a safe harbor whereby it will be assumed that a 
construction allowance provided by a lessor to a lessee is used to 
construct or improve lessor property when long-term property is 
constructed or improved and used pursuant to a short-term lease. The 
regulations also provide a reporting requirement that ensures that both 
the lessee and lessor consistently treat the property subject to the 
construction allowance as nonresidential real property owned by the 
lessor.
    Affected Public: Private Sector: Businesses or other for-profits.
    Estimated Annual Burden Hours: 10,000.
    OMB Number: 1545-1791.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Membership Applications for IRPAC, IRSAC, and ETACC (IRS 
Committee's), IRS Advisory Council, and Tax Check Waiver.
    Form: 12339, 12339-B, 12339-C, 13775.
    Abstract: The Federal Advisory Committee Act (FACA) requires that 
committee membership be fairly balanced in terms of points of view 
represented and the functions to be performed. As a result, members of 
specific committees often have both the expertise and professional 
skills that parallel the program responsibilities of their sponsoring 
agencies.
    In order to apply to be a member of the Internal Revenue Service 
Advisory Council (IRSAC), the Information Reporting Program Advisory 
Committee (IRPAC), Advisory Committee on Tax Exempt and Government 
Entities, or the Electronic Tax Administration Advisory Committee 
(ETAAC), applicants must submit a Membership Application. Selection of 
committee members is made based on the FACA's requirements and the 
potential member's background and qualifications. Therefore, an 
application is needed to ascertain the desired skills set for 
membership. The information will also be used to perform Federal Income 
Tax, FBI, and practitioner checks as required of all members and 
applicants to the Committees or Council.
    The tax check waiver permits the Internal Revenue Service (IRS) to 
release information about the applicant which would otherwise be 
confidential. This information will be used in connection with my 
application for appointment to membership in one of the IRS Advisory 
Committee/Council. It is necessary for the purpose of ensuring that all 
panel members are tax compliant. Information provided will be used to 
qualify or disqualify individuals to serve as panel members. The 
information will be used as appropriate by the Taxpayer Advocate 
service staff, and other appropriate IRS personnel.
    Affected Public: Individual or Household.
    Estimated Annual Burden Hours: 492.
    OMB Number: 1545-1941.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Consumer Cooperative Exemption Application.
    Form: 3491.
    Abstract: A cooperative uses Form 3491 to apply for exemption from 
filing information returns (Forms 1099-PATR)

[[Page 17151]]

on patronage distributions of $10 or more to any person during the 
calendar year.
    Affected Public: Private Sector: Businesses or other for-profits.
    Estimated Annual Burden Hours: 148.
    OMB Number: 1545-2095.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: 26 US Code Sec. Sec.  430 and 436.
    Abstract: Regulations under sections 430(d), 430(g), 430(h)(2), and 
430(i) provide guidance on the determination of benefit liabilities and 
the valuation of plan assets for purposes of the funding requirements 
that apply to single employer defined benefit plans pursuant to changes 
made by the Pension Protection Act of 2006. In order to implement the 
statutory provisions under section 430(h)(2), the regulations provide 
for the sponsor of a defined benefit plan to make any of several 
elections related to the interest rate used for minimum funding 
purposes and require written notification of any such election to be 
provided to the plan's enrolled actuary. These final regulations 
provide for the sponsor of a defined benefit pension plan to make any 
of several elections.
    The Highway and Transportation Funding Act of 2014 (HATFA), Public 
Law 113-159, was enacted on August 8, 2014, and was effective 
retroactively for single employer defined benefit pension plans, 
optional for plan years beginning in 2013 and mandatory for plan years 
beginning in 2014. Notice 2014-53 provides guidance on these changes to 
the funding stabilization rules for single-employer pension plans.
    Affected Public: Private Sector: Businesses or other for-profits; 
Not-for-profit institutions.
    Estimated Annual Burden Hours: 158,000.
    OMB Number: 1545-2103.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: TD 9547--Election to Expense Certain Refineries.
    Abstract: The regulations provide guidance with respect to section 
179C of the Internal Revenue Code, which provides a taxpayer can elect 
to treat 50 percent of the cost of ``qualified refinery property'' as a 
deductible expense not chargeable to capital account. The taxpayer 
makes an election under section 179C by entering the amount of the 
deduction at the appropriate place on the taxpayer's timely filed 
original federal income tax return for the taxable year in which the 
qualified refinery property is placed in service and by attaching a 
report specifying (a) the name and address of the refinery and (b) the 
production capacity requirement under which the refinery qualifies. If 
the taxpayer making the expensing election described above is a 
cooperative described in section 1381, and one or more persons directly 
holding an ownership interest in the taxpayer are organizations 
described in section 1381, the taxpayer can elect to allocate all or a 
portion of the deduction allowable under section 179C to those persons. 
The allocation must be equal to the person's ratable share of the total 
amount allocated, determined on the basis of the person's ownership 
interest in the taxpayer/cooperative. If the taxpayer/cooperative makes 
such an election, it must provide written notice of the amount of the 
allocation to any owner receiving an allocation by written notice on 
Form 1099-PAT, Taxable Distributions Received from Cooperatives. This 
notice must be provided before the due date (including extensions) of 
the cooperative owner's federal income tax return for the taxable year 
for which the election applies.
    Affected Public: Private Sector: Businesses or other for-profits.
    Estimated Annual Burden Hours: 120.
    OMB Number: 1545-2135.
    Type of Review: Revision of a currently approved collection.
    Title: TD 9447 (Final) Automatic Contribution Arrangements.
    Abstract: These regulations provide a method by which an automatic 
contribution arrangement can become a qualified automatic contribution 
arrangement and automatically satisfy the ADP test of section 
401(k)(3)A)(ii). These regulations also describe how an automatic 
contribution arrangement can become an eligible automatic contribution 
arrangement and employees can get back mistaken contributions.
    Affected Public: Private Sector: Businesses or other for-profits.
    Estimated Annual Burden Hours: 36,000.

    Dated: March 26, 2015.
Dawn D. Wolfgang,
Treasury PRA Clearance Officer.
[FR Doc. 2015-07306 Filed 3-30-15; 8:45 am]
BILLING CODE 4830-01-P