80_FR_44571 80 FR 44428 - Proposed Collection; Comment Request for Form 7004

80 FR 44428 - Proposed Collection; Comment Request for Form 7004

DEPARTMENT OF THE TREASURY
Internal Revenue Service

Federal Register Volume 80, Issue 143 (July 27, 2015)

Page Range44428-44429
FR Document2015-18362

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)). Currently, the IRS is soliciting comments concerning Form 7004, Application for Automatic Extension of Time To File Certain Business Income Tax, Information, and Other Returns.

Federal Register, Volume 80 Issue 143 (Monday, July 27, 2015) 
[Federal Register Volume 80, Number 143 (Monday, July 27, 2015)]
[Notices]
[Pages 44428-44429]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-18362]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Form 7004

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)). Currently, the IRS is soliciting comments concerning 
Form 7004, Application for Automatic Extension of Time To File Certain 
Business Income Tax, Information, and Other Returns.

DATES: Written comments should be received on or before September 25, 
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 form and instructions should be directed to Sara 
Covington, Internal Revenue Service, Room 6129, 1111 Constitution 
Avenue NW., Washington, DC 20224, or through the internet at 
[email protected].

SUPPLEMENTARY INFORMATION: 
    Title: Application for Automatic Extension of Time To File Certain 
Business Income Tax, Information, and Other Returns.
    OMB Number: 1545-0233.
    Form Number: 7004.
    Abstract: Form 7004 is used by corporations and certain nonprofit 
institutions to request an automatic extension of time to file their 
income tax returns. The information is needed by IRS to determine 
whether Form 7004 was timely filed so as not to impose a late filing 
penalty in error and also to insure that the proper amount of tax was 
computed and deposited.
    Current Actions: There are no changes being made to this form at 
this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Businesses or other for-profit organizations and 
non-profit institutions.
    Estimated Number of Respondents: 2,834,328.
    Estimated Time per Respondent: 6 hr., 46 min.
    Estimated Total Annual Burden Hours: 19,216,744.
    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

[[Page 44429]]

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: July 16, 2015.
Christie Preston,
IRS Reports Clearance Officer.
[FR Doc. 2015-18362 Filed 7-24-15; 8:45 am]
BILLING CODE 4830-01-P

44428 Federal Register / Vol. 80, No. 143 / Monday, July 27, 2015 / Notices opportunity to comment on proposed The following paragraph applies to soliciting comments concerning Form and/or continuing information the collections of information covered 7004, Application for Automatic collections, as required by the by this notice: Extension of Time To File Certain Paperwork Reduction Act of 1995, An agency may not conduct or Business Income Tax, Information, and Public Law 104–13 (44 U.S.C. sponsor, and a person is not required to Other Returns. 3506(c)(2)(A)). Currently, the IRS is respond to, a collection of information DATES: Written comments should be soliciting comments concerning unless the collection of information received on or before September 25, Revenue Procedure 2013–30, Uniform displays a valid OMB control number. 2015 to be assured of consideration. Late S Corporation Election Revenue Books or records relating to a collection ADDRESSES: Direct all written comments Procedure. of information must be retained as long to Christie Preston, Internal Revenue DATES: Written comments should be as their contents may become material Service, Room 6129, 1111 Constitution received on or before September 25, in the administration of any internal Avenue NW., Washington, DC 20224. 2015 to be assured of consideration. revenue law. Generally, tax returns and FOR FURTHER INFORMATION CONTACT: tax return information are confidential, ADDRESSES: Direct all written comments Requests for additional information or as required by 26 U.S.C. 6103. to Christie Preston, Internal Revenue Request for Comments: Comments copies of the form and instructions Service, Room 6129, 1111 Constitution submitted in response to this notice will should be directed to Sara Covington, Avenue NW., Washington, DC 20224. be summarized and/or included in the Internal Revenue Service, Room 6129, FOR FURTHER INFORMATION CONTACT: request for OMB approval. All 1111 Constitution Avenue NW., Requests for additional information or comments will become a matter of Washington, DC 20224, or through the copies of the revenue procedures should public record. Comments are invited on: internet at Sara.L.Covington@irs.gov. be directed to Sara Covington, at (a) Whether the collection of SUPPLEMENTARY INFORMATION: Internal Revenue Service, Room 6129, information is necessary for the proper Title: Application for Automatic 1111 Constitution Avenue NW., performance of the functions of the Extension of Time To File Certain Washington, DC 20224, through the agency, including whether the Business Income Tax, Information, and internet at Sara.L.Covington@irs.gov. information shall have practical utility; Other Returns. SUPPLEMENTARY INFORMATION: (b) the accuracy of the agency’s estimate OMB Number: 1545–0233. Title: Revenue Procedure 2013–30, of the burden of the collection of Form Number: 7004. Uniform Late S Corporation Election information; (c) ways to enhance the Abstract: Form 7004 is used by Revenue Procedure. quality, utility, and clarity of the corporations and certain nonprofit OMB Number: 1545–1548. information to be collected; (d) ways to institutions to request an automatic Revenue Procedure Number: Revenue minimize the burden of the collection of extension of time to file their income tax Procedure 2013–30. information on respondents, including returns. The information is needed by Abstract: Revenue Procedure 2013–30 through the use of automated collection IRS to determine whether Form 7004 provides a simplified method for techniques or other forms of information was timely filed so as not to impose a taxpayers to request relief for late S technology; and (e) estimates of capital late filing penalty in error and also to corporation elections, Electing Small or start-up costs and costs of operation, insure that the proper amount of tax was Business Trust (ESBT) elections, maintenance, and purchase of services computed and deposited. Qualified Subchapter S Trust (QSST) to provide information. Current Actions: There are no changes elections, Qualified Subchapter S being made to this form at this time. Subsidiary (Q Sub) elections, and late Approved: July 21, 2015. Type of Review: Extension of a corporate classification elections which Allan Hopkins, currently approved collection. the taxpayer intended to take effect on IRS Reports Clearance Officer. Affected Public: Businesses or other the same date that the taxpayer intended [FR Doc. 2015–18366 Filed 7–24–15; 8:45 am] for-profit organizations and non-profit that an S corporation election for the BILLING CODE 4830–01–P institutions. entity should take effect. Generally, this Estimated Number of Respondents: revenue procedure facilitates the grant 2,834,328. of relief to taxpayers that request relief DEPARTMENT OF THE TREASURY Estimated Time per Respondent: 6 hr., previously provided in numerous other 46 min. revenue procedures by consolidating the Internal Revenue Service Estimated Total Annual Burden provisions of those revenue procedures Hours: 19,216,744. Proposed Collection; Comment The following paragraph applies to all into one revenue procedure and Request for Form 7004 extending relief in certain of the collections of information covered circumstances. Revenue Procedures 97– AGENCY: Internal Revenue Service (IRS), by this notice: 48, 2003–43, 2004–48, 2004–49, and Treasury. An agency may not conduct or 2007–62 are affected. ACTION: Notice and request for sponsor, and a person is not required to Current Actions: There are no changes comments. respond to, a collection of information being made to these revenue procedures unless the collection of information at this time. SUMMARY: The Department of the displays a valid OMB control number. Type of Review: Extension of a Treasury, as part of its continuing effort Books or records relating to a collection currently approved collection. to reduce paperwork and respondent of information must be retained as long Affected Public: Business or other for- burden, invites the general public and as their contents may become material tkelley on DSK3SPTVN1PROD with NOTICES profit organizations. other Federal agencies to take this in the administration of any internal Estimated Number of Respondents: opportunity to comment on proposed revenue law. Generally, tax returns and 50,000. and/or continuing information tax return information are confidential, Estimated Average Time per collections, as required by the as required by 26 U.S.C. 6103. Respondent varies: .5 hours to 1 hour. Paperwork Reduction Act of 1995, Request for Comments: Comments Estimated Total Annual Burden Public Law 104–13 (44 U.S.C. submitted in response to this notice will Hours: 50,000. 3506(c)(2)(A)). Currently, the IRS is be summarized and/or included in the VerDate Sep<11>2014 18:58 Jul 24, 2015 Jkt 235001 PO 00000 Frm 00106 Fmt 4703 Sfmt 4703 E:\FR\FM\27JYN1.SGM 27JYN1

Federal Register / Vol. 80, No. 143 / Monday, July 27, 2015 / Notices 44429 request for OMB approval. All SUPPLEMENTARY INFORMATION: Approved: July 15, 2015. comments will become a matter of Title: Conclusive Presumption of Christie Preston, public record. Comments are invited on: Worthlessness of Debts Held by Banks. IRS Reports Clearance Officer. (a) Whether the collection of OMB Number: 1545–1254. [FR Doc. 2015–18382 Filed 7–24–15; 8:45 am] information is necessary for the proper performance of the functions of the Regulation Project Number: FI–34–91. BILLING CODE 4830–01–P agency, including whether the Abstract: Section 1.166–2(d)(3) of this information shall have practical utility; regulation allows a bank to elect to DEPARTMENT OF THE TREASURY (b) the accuracy of the agency’s estimate determine the worthlessness of debts by of the burden of the collection of using a method of accounting that Internal Revenue Service information; (c) ways to enhance the conforms worthlessness for tax purposes quality, utility, and clarity of the to worthlessness for regulatory Agency Information Collection information to be collected; (d) ways to purposes, and establish a conclusive Activity; Proposed Collection minimize the burden of the collection of presumption of worthlessness. An election under this regulation is treated AGENCY: Internal Revenue Service (IRS), information on respondents, including Treasury. through the use of automated collection as a change in accounting method. ACTION: Notice and request for techniques or other forms of information Current Actions: There is no change to comments. technology; and (e) estimates of capital these existing regulations. or start-up costs and costs of operation, Type of Review: Extension of a SUMMARY: The Department of the maintenance, and purchase of services currently approved collection. Treasury, as part of its continuing effort to provide information. Affected Public: Business or other for- to reduce paperwork and respondent Approved: July 16, 2015. profit organizations. burden, invites the general public and Christie Preston, Estimated Number of Respondents: other Federal agencies to take this IRS Reports Clearance Officer. 200. opportunity to comment on proposed [FR Doc. 2015–18362 Filed 7–24–15; 8:45 am] and/or continuing information Estimated Time per Respondent: 15 collections, as required by the BILLING CODE 4830–01–P minutes. Paperwork Reduction Act of 1995, Estimated Total Annual Burden Public Law 104–13 (44 U.S.C. Hours: 50. 3506(c)(2)(A)). DEPARTMENT OF THE TREASURY The following paragraph applies to all DATES: Written comments should be Internal Revenue Service of the collections of information covered received on or before September 25, by this notice: Proposed Collection; Comment 2015 to be assured of consideration. An agency may not conduct or Request for Regulation Project ADDRESSES: Direct all written comments sponsor, and a person is not required to to Christie Preston, Internal Revenue AGENCY: Internal Revenue Service (IRS), respond to, a collection of information Service, Room 6129, 1111 Constitution Treasury. unless the collection of information Avenue NW., Washington, DC 20224. ACTION: Notice and request for displays a valid OMB control number. FOR FURTHER INFORMATION CONTACT: comments. Books or records relating to a collection of information must be retained as long Requests for additional information or SUMMARY: The Department of the as their contents may become material copies of the regulations should be Treasury, as part of its continuing effort in the administration of any internal directed to Allan Hopkins at Internal to reduce paperwork and respondent revenue law. Generally, tax returns and Revenue Service, Room 6129, 1111 burden, invites the general public and tax return information are confidential, Constitution Avenue NW., Washington, other Federal agencies to take this as required by 26 U.S.C. 6103. DC 20224, or through the Internet at opportunity to comment on proposed Allan.M.Hopkins@irs.gov. Request for Comments: Comments and/or continuing information SUPPLEMENTARY INFORMATION: submitted in response to this notice will collections, as required by the Title: Transfers of Securities Under be summarized and/or included in the Paperwork Reduction Act of 1995, Pub. Certain Agreements. request for OMB approval. All OMB Number: 1545–0770. L. 104–13 (44 U.S.C. 3506(c)(2)(A)). comments will become a matter of Currently, the IRS is soliciting Regulation Project Number: FI–182– public record. Comments are invited on: 78. comments concerning conclusive (a) Whether the collection of presumption of worthlessness of debts Abstract: Section 1058 of the Internal information is necessary for the proper Revenue Code provides tax-free held by banks (section 1.166–2). performance of thefunctions of the treatment for transfers of securities DATES: Written comments should be agency, including whether the pursuant to a securities lending received on or before September 25, information shall have practical utility; agreement. The agreement must be in 2015 to be assured of consideration. (b) the accuracy of the agency’s estimate writing and is used by the taxpayer, in ADDRESSES: Direct all written comments of the burden of the collection of a tax audit situation, to justify to Christie Preston, Internal Revenue information; (c) ways to enhance the nonrecognition treatment of gain or loss Service, Room 6129, 1111 Constitution quality, utility, and clarity of the on the exchange of the securities. Avenue NW., Washington, DC 20224. information to be collected; (d) ways to Current Actions: There is no change to FOR FURTHER INFORMATION CONTACT: minimize the burden of the collection of this existing regulation. tkelley on DSK3SPTVN1PROD with NOTICES Requests for additional information or information on respondents, including Type of Review: Extension of a copies of the regulations should be through the use of automated collection currently approved collection. directed to Allan Hopkins at Internal techniques or other forms of information Affected Public: Business or other for- Revenue Service, Room 6129, 1111 technology; and (e) estimates of capital profit organizations, individuals, and Constitution Avenue NW., Washington, or start-up costs and costs of operation, not-for-profit institutions. DC 20224, or through the Internet at maintenance, and purchase of services Estimated Number of Respondents: Allan.M.Hopkins@irs.gov. to provide information. 11,742. VerDate Sep<11>2014 18:58 Jul 24, 2015 Jkt 235001 PO 00000 Frm 00107 Fmt 4703 Sfmt 4703 E:\FR\FM\27JYN1.SGM 27JYN1


Document Created: 2018-02-23 09:26:35
Document Modified: 2018-02-23 09:26:35
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 September 25, 2015 to be assured of consideration.
ContactRequests for additional information or copies of the form and instructions should be directed to Sara Covington, Internal Revenue Service, Room 6129, 1111 Constitution Avenue NW., Washington, DC 20224, or through the internet at [email protected]
FR Citation80 FR 44428 
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