81 FR 39751 - Submission for OMB Review; Comment Request

DEPARTMENT OF THE TREASURY

Federal Register Volume 81, Issue 117 (June 17, 2016)

[Federal Register Volume 81, Number 117 (Friday, June 17, 2016)]
[Notices]
[Pages 39751-39752]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-14398]


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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

June 14, 2016.
    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 July 18, 2016 to be 
assured of consideration.

ADDRESSES: Send comments regarding the burden estimates, or any other 
aspect of the information collections, 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 8117, Washington, 
DC 20220, or email at [email protected].

FOR FURTHER INFORMATION CONTACT: Copies of the submissions may be 
obtained by emailing [email protected], calling (202) 622-1295, or 
viewing the entire information collection request at www.reginfo.gov.

Internal Revenue Service (IRS)

    OMB Control Number: 1545-0155.
    Type of Review: Revision of a currently approved collection.
    Title: Investment Credit.
    Form: Form 3468.
    Abstract: Form 3468, Investment Credit, is used to claim the 
investment credit. The investment credit consists of the 
rehabilitation, energy, qualifying advanced coal project, qualifying 
gasification project, and qualifying advanced energy project credits. 
If you file electronically, you must send in a paper Form 8453, U.S. 
Individual Income Tax Transmittal for an IRS e-file Return, if 
attachments are required to Form 3468.
    Affected Public: Businesses or other for-profits.
    Estimated Total Annual Burden Hours: 523,418.

    OMB Control Number: 1545-1231.
    Type of Review: Reinstatement of a previously approved collection.
    Title: Tax Return Preparer Penalties Under Sections 6694 and 6695.
    Abstract: TD 9436 contains final regulations implementing 
amendments to the tax return preparer penalties under sections 6694 and 
6695 of the Internal Revenue Code (Code) and related provisions under 
sections 6060, 6107, 6109, 6696, and 7701(a)(36) reflecting amendments 
to the Code made by section 8246 of the Small Business and Work 
Opportunity Tax Act of 2007 and section 506 of the Tax Extenders and 
Alternative Minimum Tax Relief Act of 2008. The regulations affect tax 
return preparers and provide guidance regarding the amended provisions.

[[Page 39752]]

    Affected Public: Businesses or other for-profits.
    Estimated Total Annual Burden Hours: 10,679,320.

    OMB Control Number: 1545-1590.
    Type of Review: Reinstatement of a previously approved collection.
    Title: REG-251698-96 (TD 8869--Final) Subchapter S Subsidiaries.
    Abstract: These regulations relate to the treatment of corporate 
subsidiaries of S corporations and interpret the rules added to the 
Code by section 1308 of the Small Business Job Protection Act of 1996. 
Responses to this collections of information are required to determine 
the manner in which a corporate subsidiary of an S corporation will be 
treated.
    Affected Public: Businesses or other for-profits.
    Estimated Total Annual Burden Hours: 10,110.

    OMB Control Number: 1545-1694.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Revenue Ruling 2000-35: Automatic Enrollment in Section 
403(b) Plans.
    Abstract: This ruling specifies the criteria to be met in order to 
automatically reduce an employee's compensation by a certain amount and 
have that amount contributed as an elective deferral to an employer's 
section 403(b) plan.
    Affected Public: State, local or tribal governments; Not-for-profit 
institutions.
    Estimated Total Annual Burden Hours: 175.

    OMB Control Number: 1545-1806.
    Type of Review: Reinstatement of a previously approved collection.
    Title: Form 8883, Asset Allocation Statement Under Section 338.
    Form: 8883.
    Abstract: Form 8883 is used to report information about 
transactions involving the deemed sale of corporate assets under Code 
section 338.
    Affected Public: Businesses or other for-profits.
    Estimated Total Annual Burden Hours: 5,755.

    OMB Control Number: 1545-1851.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: T.D. 9083--Golden Parachute Payments.
    Abstract: T.D. 9083 contains final regulations relating to golden 
parachute payments under section 280G of the Code. The collection of 
information in this regulation is in Sec.  1.280G-1, Q/A-7(a). This 
information is a brief description of all material facts concerning all 
payments which would be parachute payments (but for Sec.  1.280G-1, Q/
A-6). This information may be used by certain corporations with no 
readily tradeable stock (assuming certain shareholder approval 
requirements are also met) to determine if the payments to a 
disqualified individual are exempt from the definition of parachute 
payments.
    Affected Public: Businesses or other for-profits.
    Estimated Total Annual Burden Hours: 12,000.

    OMB Control Number: 1545-2264.
    Type of Review: Revision of a currently approved collection.
    Title: TD 9757; REG-127923-15 Guidance under Sec. 6035 Consistent 
Basis Reporting between Estate & Person Acquiring Property; Form 8971--
Information Regarding Beneficiaries Acquiring Property from a Decedent.
    Form: Form 8971 and Schedule A.
    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 Form 706, Form 706-NA, or Form 
706-A to report the final estate tax value of property distributed or 
to be distributed from the estate, if the estate tax return is filed 
after July 2015. Form 8971, along with a copy of every Schedule A, is 
used to report values to the IRS. TD 9757 contains temporary 
regulations that provide transition rules providing that executors and 
other persons required to file or furnish a statement under section 
6035(a)(1) or (a)(2) before March 31, 2016, need not do so until March 
31.
    Affected Public: Individuals or households.
    Estimated Total Annual Burden Hours: 53,100.

Brenda Simms,
Treasury PRA Clearance Officer.
[FR Doc. 2016-14398 Filed 6-16-16; 8:45 am]
 BILLING CODE 4830-01-P