80_FR_27528 80 FR 27436 - Proposed Collection; Comment Request for Regulation Project

80 FR 27436 - Proposed Collection; Comment Request for Regulation Project

DEPARTMENT OF THE TREASURY
Internal Revenue Service

Federal Register Volume 80, Issue 92 (May 13, 2015)

Page Range27436-27436
FR Document2015-11572

The Department of the Treasury, as part of its continuing effort to reduce paperwork and respondent burden, invites the general 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, Public Law 104-13(44 U.S.C. 3506(c)(2)(A)). The IRS is soliciting comments concerning information collection requirements related to information with respect to certain foreign-owned corporations.

Federal Register, Volume 80 Issue 92 (Wednesday, May 13, 2015) 
[Federal Register Volume 80, Number 92 (Wednesday, May 13, 2015)]
[Notices]
[Page 27436]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-11572]



[[Page 27436]]

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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Regulation Project

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

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SUMMARY: The Department of the Treasury, as part of its continuing 
effort to reduce paperwork and respondent burden, invites the general 
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, Public Law 104-13(44 U.S.C. 
3506(c)(2)(A)). The IRS is soliciting comments concerning information 
collection requirements related to information with respect to certain 
foreign-owned corporations.

DATES: Written comments should be received on or before July 13, 2015 
to be assured of consideration.

ADDRESSES: Direct all written comments to Christie Preston, Internal 
Revenue Service, Room 6129, 1111 Constitution Avenue NW., Washington, 
DC 20224.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the regulations should be directed to Sara Covington at 
Internal Revenue Service, Room 6129, 1111 Constitution Avenue NW., 
Washington, DC 20224, or through the Internet at 
Sara.L.Covington@irs.gov.

SUPPLEMENTARY INFORMATION: 
    Title: Information With Respect to Certain Foreign-Owned 
Corporations.
    OMB Number: 1545-1191.
    Regulation Project Number: T.D. 8353.
    Abstract: This document contains final Income Tax Regulations 
relating to information that must be reported and records that must be 
maintained under section 6038A of the Internal Revenue Code. These 
regulations are necessary to provide appropriate guidance for affected 
reporting corporations and related parties. The regulations affect any 
reporting corporation (that is, certain domestic corporations and 
foreign corporations) as well as certain related parties of the 
reporting corporation.
    Current Actions: There is no change to these existing regulations.
    Type of Review: Extension of currently approved collection.
    Affected Public: Individuals and business or other for-profit 
organizations.
    Estimated Number of Respondents: 63,000.
    Estimated Time per Respondent: 10 hours.
    Estimated Total Annual Burden Hours: 630,000.
    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 of 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: May 6, 2015.
Christie Preston,
IRS Reports Clearance Officer.
[FR Doc. 2015-11572 Filed 5-12-15; 8:45 am]
BILLING CODE 4830-01-P

27436 Federal Register / Vol. 80, No. 92 / Wednesday, May 13, 2015 / Notices DEPARTMENT OF THE TREASURY Estimated Number of Respondents: a Low Income Taxpayer Clinic (LITC) 63,000. matching grant for the 2016 grant year, Internal Revenue Service Estimated Time per Respondent: 10 which runs from January 1, 2016, hours. through December 31, 2016. The Proposed Collection; Comment Estimated Total Annual Burden application period runs through June Request for Regulation Project Hours: 630,000. 15, 2015. The following paragraph applies to all The IRS will award a total of up to AGENCY: Internal Revenue Service (IRS), of the collections of information covered $6,000,000 (unless otherwise provided Treasury. by this notice: by specific Congressional appropriation) ACTION: Notice and request for An agency may not conduct or to qualifying organizations, subject to comments. sponsor, and a person is not required to the limitations of Internal Revenue Code respond to, a collection of information section 7526. For fiscal year 2015, SUMMARY: The Department of the unless the collection of information Congress appropriated a total of Treasury, as part of its continuing effort displays a valid OMB control number. $10,000,000 in federal funds for LITC to reduce paperwork and respondent Books or records relating to a collection grants. A qualifying organization may burden, invites the general public and of information must be retained as long receive a matching grant of up to other Federal agencies to take this as their contents may become material $100,000 per year for up to a three-year opportunity to comment on proposed in the administration of any internal project period. Qualifying organizations and/or continuing information revenue law. Generally, tax returns and that provide representation to low collections, as required by the tax return information are confidential, income taxpayers involved in a tax Paperwork Reduction Act of 1995, as required by 26 U.S.C. 6103. controversy with the IRS or educate Public Law 104–13(44 U.S.C. Request For Comments: Comments 3506(c)(2)(A)). The IRS is soliciting individuals for whom English is a submitted in response to this notice will second language (ESL) of their taxpayer comments concerning information be summarized and/or included in the collection requirements related to rights and responsibilities under the request for OMB approval. All Internal Revenue Code are eligible for a information with respect to certain comments will become a matter of foreign-owned corporations. grant. Beginning in grant year 2016, the public record. Comments are invited on: LITC Program will award grants only to DATES: Written comments should be (a) Whether the collection of qualifying organizations that provide received on or before July 13, 2015 to be information is necessary for the proper both services. An LITC must provide assured of consideration. performance of the functions of the services for free or for no more than a ADDRESSES: Direct all written comments agency, including whether the nominal fee. to Christie Preston, Internal Revenue information shall have practical utility; Examples of qualifying organizations Service, Room 6129, 1111 Constitution (b) the accuracy of the agency’s estimate include: (1) A clinical program at an Avenue NW., Washington, DC 20224. of the burden of the collection of accredited law, business or accounting FOR FURTHER INFORMATION CONTACT: information; (c) ways to enhance the school whose students represent low Requests for additional information or quality, utility, and clarity of the income taxpayers in tax controversies copies of the regulations should be information to be collected; (d) ways to with the IRS, and (2) an organization directed to Sara Covington at Internal minimize the burden of the collection of exempt from tax under I.R.C. § 501(a) Revenue Service, Room 6129, 1111 information on respondents, including whose employees and volunteers Constitution Avenue NW., Washington, through the use of automated collection represent low income taxpayers in tax DC 20224, or through the Internet at techniques or other forms of information controversies with the IRS. Sara.L.Covington@irs.gov. technology; and (e) estimates of capital In determining whether to award a SUPPLEMENTARY INFORMATION: or start-up costs and costs of operation, grant, the IRS will consider a variety of Title: Information With Respect to maintenance, and purchase of services factors, including: (1) The number of Certain Foreign-Owned Corporations. to provide information. taxpayers who will be assisted by the OMB Number: 1545–1191. Approved: May 6, 2015. organization, including the number of Regulation Project Number: T.D. 8353. Christie Preston, ESL taxpayers in that geographic area; Abstract: This document contains IRS Reports Clearance Officer. (2) the existence of other LITCs assisting final Income Tax Regulations relating to [FR Doc. 2015–11572 Filed 5–12–15; 8:45 am] the same population of low income and information that must be reported and BILLING CODE 4830–01–P ESL taxpayers; (3) the quality of the records that must be maintained under program offered by the organization, section 6038A of the Internal Revenue including the qualifications of its Code. These regulations are necessary to DEPARTMENT OF THE TREASURY administrators and qualified provide appropriate guidance for representatives, and its record, if any, in affected reporting corporations and Internal Revenue Service providing assistance to low income related parties. The regulations affect taxpayers; and (4) alternative funding any reporting corporation (that is, Low Income Taxpayer Clinic Grant sources available to the organization, certain domestic corporations and Program; Availability of 2014 Grant including amounts received from other foreign corporations) as well as certain Application Package grants and contributions, and the related parties of the reporting endowment and resources of the asabaliauskas on DSK5VPTVN1PROD with NOTICES AGENCY: Internal Revenue Service (IRS), corporation. Treasury. institution sponsoring the organization. Current Actions: There is no change to ACTION: Notice. DATES: The IRS is authorized to award these existing regulations. a multi-year grant not to exceed three Type of Review: Extension of SUMMARY: This document contains a years. For an organization not currently currently approved collection. notice that the IRS has made available receiving a grant for 2015, or an Affected Public: Individuals and the 2016 Grant Application Package organization whose multi-year grant business or other for-profit and Guidelines (Publication 3319) for ends in 2015, the organization must organizations. organizations interested in applying for submit the application electronically at VerDate Sep<11>2014 17:27 May 12, 2015 Jkt 235001 PO 00000 Frm 00153 Fmt 4703 Sfmt 4703 E:\FR\FM\13MYN1.SGM 13MYN1


Document Created: 2015-12-16 07:47:02
Document Modified: 2015-12-16 07:47:02
CategoryRegulatory Information
CollectionFederal Register
sudoc ClassAE 2.7:
GS 4.107:
AE 2.106:
PublisherOffice of the Federal Register, National Archives and Records Administration
SectionNotices
ActionNotice and request for comments.
DatesWritten comments should be received on or before July 13, 2015 to be assured of consideration.
ContactRequests for additional information or copies of the regulations should be directed to Sara Covington at Internal Revenue Service, Room 6129, 1111 Constitution Avenue NW., Washington, DC 20224, or through the Internet at [email protected]
FR Citation80 FR 27436 
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