80_FR_53403 80 FR 53233 - Proposed Collection; Comment Request for Form 1120-FSC and Schedule P (Form 1120-FSC)

80 FR 53233 - Proposed Collection; Comment Request for Form 1120-FSC and Schedule P (Form 1120-FSC)

DEPARTMENT OF THE TREASURY
Internal Revenue Service

Federal Register Volume 80, Issue 170 (September 2, 2015)

Page Range53233-53233
FR Document2015-21760

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 1120-FSC, U.S. Income Tax Return of a Foreign Sales Corporation, and Schedule P (Form 1120-FSC), Transfer Price or Commission.

Federal Register, Volume 80 Issue 170 (Wednesday, September 2, 2015) 
[Federal Register Volume 80, Number 170 (Wednesday, September 2, 2015)]
[Notices]
[Page 53233]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-21760]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Form 1120-FSC and 
Schedule P (Form 1120-FSC)

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 1120-FSC, U.S. Income Tax Return of a Foreign Sales Corporation, 
and Schedule P (Form 1120-FSC), Transfer Price or Commission.

DATES: Written comments should be received on or before November 2, 
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 R. Joseph 
Durbala, (202) 317-5746, at Internal Revenue Service, Room 6129, 1111 
Constitution Avenue NW., Washington, DC 20224, or through the internet 
at [email protected].

SUPPLEMENTARY INFORMATION:
    Title: Form 1120-FSC, U.S. Income Tax Return of a Foreign Sales 
Corporation, and Schedule P (Form 1120-FSC), Transfer Price or 
Commission.
    OMB Number: 1545-0935.
    Form Number: 1120-FSC and Schedule P (Form 1120-FSC).
    Abstract: Form 1120-FSC is filed by foreign corporations that have 
elected to be FSCs or small FSCs. The FSC uses Form 1120-FSC to report 
income and expenses and to figure its tax liability. IRS uses Form 
1120-FSC and Schedule P (Form 1120-FSC) to determine whether the FSC 
has correctly reported its income and expenses and figured its tax 
liability correctly.
    Current Actions: There are no changes being made to the form at 
this time.
    Type of Review: Revision of a currently approved collection.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents: 30,000.
    Estimated Time per Respondent: 165 hours, 37 minutes.
    Estimated Total Annual Burden Hours: 1,088,250.
    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: August 21, 2015.
R. Joseph Durbala,
IRS Tax Analyst.
[FR Doc. 2015-21760 Filed 9-1-15; 8:45 am]
 BILLING CODE 4830-01-P

Federal Register / Vol. 80, No. 170 / Wednesday, September 2, 2015 / Notices 53233 Approved: August 25, 2015. its income and expenses and figured its Notice and request for ACTION: R. Joseph Durbala, tax liability correctly. comments. IRS Tax Analyst. Current Actions: There are no changes being made to the form at this time. SUMMARY: The Department of the [FR Doc. 2015–21755 Filed 9–1–15; 8:45 am] Type of Review: Revision of a Treasury, as part of its continuing effort BILLING CODE 4830–01–P currently approved collection. to reduce paperwork and respondent Affected Public: Business or other for- burden, invites the general public and profit organizations. other Federal agencies to take this DEPARTMENT OF THE TREASURY opportunity to comment on proposed Estimated Number of Respondents: Internal Revenue Service 30,000. and/or continuing information Estimated Time per Respondent: 165 collections, as required by the Proposed Collection; Comment hours, 37 minutes. Paperwork Reduction Act of 1995, Request for Form 1120–FSC and Estimated Total Annual Burden Public Law 104–13 (44 U.S.C. Schedule P (Form 1120–FSC) Hours: 1,088,250. 3506(c)(2)(A)). Currently, the IRS is The following paragraph applies to all soliciting comments concerning Notice AGENCY: Internal Revenue Service (IRS), of the collections of information covered 2009–41, Credit for Residential Energy Treasury. by this notice: Efficient Property. ACTION: Notice and request for An agency may not conduct or DATES: Written comments should be comments. sponsor, and a person is not required to received on or before November 2, 2015 respond to, a collection of information to be assured of consideration. SUMMARY: The Department of the unless the collection of information ADDRESSES: Direct all written comments Treasury, as part of its continuing effort displays a valid OMB control number. to Christie Preston, Internal Revenue to reduce paperwork and respondent Books or records relating to a collection Service, Room 6129, 1111 Constitution burden, invites the general public and of information must be retained as long Avenue NW., Washington, DC 20224. other Federal agencies to take this as their contents may become material FOR FURTHER INFORMATION CONTACT: opportunity to comment on proposed in the administration of any internal Requests for additional information or and/or continuing information revenue law. Generally, tax returns and copies of the form and instructions collections, as required by the tax return information are confidential, should be directed to Allan Hopkins, at Paperwork Reduction Act of 1995, as required by 26 U.S.C. 6103. Internal Revenue Service, Room 6129, Public Law 104–13 (44 U.S.C. Request for Comments: Comments 1111 Constitution Avenue NW., 3506(c)(2)(A)). Currently, the IRS is submitted in response to this notice will Washington, DC 20224, or through the soliciting comments concerning Form be summarized and/or included in the internet at Allan.M.Hopkins@irs.gov. 1120–FSC, U.S. Income Tax Return of a request for OMB approval. All Foreign Sales Corporation, and SUPPLEMENTARY INFORMATION: comments will become a matter of Title: Credit for Residential Energy Schedule P (Form 1120–FSC), Transfer public record. Comments are invited on: Efficient Property. Price or Commission. (a) Whether the collection of OMB Number: 1545–2134. DATES: Written comments should be information is necessary for the proper Form Number: Notice 2009–41. received on or before November 2, 2015 performance of the functions of the Abstract: This notice sets forth to be assured of consideration. agency, including whether the interim guidance, pending the issuance ADDRESSES: Direct all written comments information shall have practical utility; of regulations, relating to the credit for to Christie Preston, Internal Revenue (b) the accuracy of the agency’s estimate residential energy efficient property Service, Room 6129, 1111 Constitution of the burden of the collection of under § 25D of the Internal Revenue Avenue NW., Washington, DC 20224. information; (c) ways to enhance the Code. Specifically, this notice provides FOR FURTHER INFORMATION CONTACT: quality, utility, and clarity of the procedures that manufacturers may Requests for additional information or information to be collected; (d) ways to follow to certify property as a qualified copies of the form and instructions minimize the burden of the collection of residential energy efficient property, as should be directed to R. Joseph Durbala, information on respondents, including well as guidance regarding the (202) 317–5746, at Internal Revenue through the use of automated collection conditions under which taxpayers Service, Room 6129, 1111 Constitution techniques or other forms of information seeking to claim the § 25D credit may Avenue NW., Washington, DC 20224, or technology; and (e) estimates of capital rely on a manufacturer’s certification. through the internet at or start-up costs and costs of operation, The Internal Revenue Service (Service) RJoseph.Durbala@irs.gov. maintenance, and purchase of services and the Treasury Department expect SUPPLEMENTARY INFORMATION: to provide information. that the regulations will incorporate the Title: Form 1120–FSC, U.S. Income Approved: August 21, 2015. rules set forth in this notice. Tax Return of a Foreign Sales Current Actions: There is no change R. Joseph Durbala, Corporation, and Schedule P (Form in the paperwork burden previously 1120–FSC), Transfer Price or IRS Tax Analyst. approved by OMB. This form is being Commission. [FR Doc. 2015–21760 Filed 9–1–15; 8:45 am] submitted for renewal purposes only. OMB Number: 1545–0935. BILLING CODE 4830–01–P Type of Review: Extension of a Form Number: 1120–FSC and currently approved collection. Schedule P (Form 1120–FSC). Affected Public: Individuals, DEPARTMENT OF THE TREASURY mstockstill on DSK4VPTVN1PROD with NOTICES Abstract: Form 1120–FSC is filed by Businesses and other for-profit foreign corporations that have elected to organizations. be FSCs or small FSCs. The FSC uses Internal Revenue Service Estimated Number of Respondents: Form 1120–FSC to report income and 140. Proposed Collection; Comment expenses and to figure its tax liability. Estimated Time per Respondent: 2 Request for Notice 2009–41 IRS uses Form 1120–FSC and Schedule Hours, 30 minutes. P (Form 1120–FSC) to determine AGENCY: Internal Revenue Service (IRS), Estimated Total Annual Burden whether the FSC has correctly reported Treasury. Hours: 350. VerDate Sep<11>2014 19:04 Sep 01, 2015 Jkt 235001 PO 00000 Frm 00133 Fmt 4703 Sfmt 4703 E:\FR\FM\02SEN1.SGM 02SEN1


Document Created: 2018-02-26 10:11:02
Document Modified: 2018-02-26 10:11:02
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 November 2, 2015 to be assured of consideration.
ContactRequests for additional information or copies of the form and instructions should be directed to R. Joseph Durbala, (202) 317-5746, at Internal Revenue Service, Room 6129, 1111 Constitution Avenue NW., Washington, DC 20224, or through the internet at [email protected]
FR Citation80 FR 53233 
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