81_FR_44219 81 FR 44090 - Proposed Collection; Comment Request for Form 8275 and 8275-R

81 FR 44090 - Proposed Collection; Comment Request for Form 8275 and 8275-R

DEPARTMENT OF THE TREASURY
Internal Revenue Service

Federal Register Volume 81, Issue 129 (July 6, 2016)

Page Range44090-44091
FR Document2016-15905

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 8275, Disclosure Statement, and Form 8275-R, Regulation Disclosure Statement.

Federal Register, Volume 81 Issue 129 (Wednesday, July 6, 2016) 
[Federal Register Volume 81, Number 129 (Wednesday, July 6, 2016)]
[Notices]
[Pages 44090-44091]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-15905]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Form 8275 and 8275-R

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

[[Page 44091]]

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 8275, Disclosure Statement, and Form 8275-R, 
Regulation Disclosure Statement.

DATES: Written comments should be received on or before September 6, 
2016 to be assured of consideration.

ADDRESSES: Direct all written comments to Tuawana Pinkston, Internal 
Revenue Service, Room 6526, 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 Allan Hopkins 
at Internal Revenue Service, Room 6129, 1111 Constitution Avenue NW., 
Washington, DC 20224, or through the internet at 
[email protected].

SUPPLEMENTARY INFORMATION:
    Title: Disclosure Statement (Form 8275) and Regulation Disclosure 
Statement (Form 8275-R).
    OMB Number: 1545-0889.
    Form Number: Forms 8275 and 8275-R.
    Abstract: Internal Revenue Code section 6662 imposes accuracy-
related penalties on taxpayers for substantial understatement of tax 
liability or negligence or disregard of rules and regulations. Code 
section 6694 imposes similar penalties on return preparers. Regulations 
sections 1.662-4(e) and (f) provide for reduction of these penalties if 
adequate disclosure of the tax treatment is made on Form 8275 or, if 
the position is contrary to regulation on Form 8275-R.
    Current Actions: There are no changes to the forms at this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations and 
individuals, not-for-profit institutions, and farms.
    Estimated Number of Responses: 666,666.
    Estimated Time per Response: 5 hours, 34 minutes.
    Estimated Total Annual Burden Hours: 3,716,664.
    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: June 29, 2016.
Allan Hopkins,
Tax Analyst.
[FR Doc. 2016-15905 Filed 7-5-16; 8:45 am]
BILLING CODE 4830-01-P

44090 Federal Register / Vol. 81, No. 129 / Wednesday, July 6, 2016 / Notices copies of the form and instructions Approved: June 27, 2016. Estimated Time per Respondent: 7 should be directed to Martha R. Brinson, Tuawana Pinkston, hrs., 39 min. Internal Revenue Service, Room 6526, IRS Reports Clearance Officer. Estimated Total Annual Burden 1111 Constitution Avenue NW., [FR Doc. 2016–15892 Filed 7–5–16; 8:45 am] Hours: 237. Washington, DC 20224, or through the BILLING CODE 4830–01–P The following paragraph applies to all Internet at Martha.R.Brinson@irs.gov. of the collections of information covered SUPPLEMENTARY INFORMATION: by this notice: DEPARTMENT OF THE TREASURY An agency may not conduct or Title: Original Issue Discount. sponsor, and a person is not required to OMB Number: 1545–0117. respond to, a collection of information Internal Revenue Service Form Number: Form 1099–OID. unless the collection of information Abstract: Form 1099–OID is used for Proposed Collection; Comment displays a valid OMB control number. reporting original issue discount as Request for Form 8831 Books or records relating to a collection required by section 6049 of the Internal of information must be retained as long Revenue Code. It is used to verify that AGENCY: Internal Revenue Service (IRS), as their contents may become material income earned on discount obligations Treasury. in the administration of any internal is properly reported by the recipient. ACTION: Notice and request for revenue law. Generally, tax returns and Current Actions: There are no changes comments. tax return information are confidential, being made to the form at this time. as required by 26 U.S.C. 6103. SUMMARY: The Department of the Type of Review: Extension of a Treasury, as part of its continuing effort Request for Comments: Comments currently approved collection. to reduce paperwork and respondent submitted in response to this notice will Affected Public: Businesses or other burden, invites the general public and be summarized and/or included in the for-profit organizations. other Federal agencies to take this request for OMB approval. All Estimated Number of Responses: opportunity to comment on proposed comments will become a matter of 2,667,000. and/or continuing information public record. Comments are invited on: Estimated Time per Response: 12 min. collections, as required by the (a) Whether the collection of Estimated Total Annual Burden Paperwork Reduction Act of 1995, information is necessary for the proper Hours: 526,730. Public Law 104–13 (44 U.S.C. performance of the functions of the The following paragraph applies to all 3506(c)(2)(A)). Currently, the IRS is agency, including whether the of the collections of information covered soliciting comments concerning Form information shall have practical utility; by this notice: 8831, Excise Taxes on Excess Inclusions (b) the accuracy of the agency’s estimate An agency may not conduct or of REMIC Residual Interests. of the burden of the collection of sponsor, and a person is not required to information; (c) ways to enhance the DATES: Written comments should be respond to, a collection of information quality, utility, and clarity of the received on or before September 6, 2016 unless the collection of information information to be collected; (d) ways to to be assured of consideration. displays a valid OMB control number. minimize the burden of the collection of ADDRESSES: Direct all written comments information on respondents, including Books or records relating to a to Tuawana Pinkston, Internal Revenue collection of information must be through the use of automated collection Service, Room 6526, 1111 Constitution techniques or other forms of information retained as long as their contents may Avenue NW., Washington, DC 20224. become material in the administration technology; and (e) estimates of capital FOR FURTHER INFORMATION CONTACT: or start-up costs and costs of operation, of any internal revenue law. Generally, Requests for additional information or tax returns and tax return information maintenance, and purchase of services copies of the form and instructions to provide information. are confidential, as required by 26 should be directed to Sara Covington, U.S.C. 6103. Approved: June 27, 2016. Internal Revenue Service, Room 6526, Request for Comments: Comments 1111 Constitution Avenue NW., Tuawana Pinkston, submitted in response to this notice will Washington, DC 20224, or through the IRS Reports Clearance Officer. be summarized and/or included in the Internet at Sara.L.Covington@irs.gov. [FR Doc. 2016–15893 Filed 7–5–16; 8:45 am] request for OMB approval. All SUPPLEMENTARY INFORMATION: BILLING CODE 4830–01–P comments will become a matter of Title: Excise Taxes on Excess public record. Comments are invited on: Inclusions of REMIC Residual Interests. (a) Whether the collection of OMB Number: 1545–1379. DEPARTMENT OF THE TREASURY information is necessary for the proper Form Number: 8831. performance of the functions of the Abstract: Taxpayers use Form 8831 to Internal Revenue Service agency, including whether the report and pay excise tax on any transfer information shall have practical utility; Proposed Collection; Comment of a residual interest in a REMIC to a (b) the accuracy of the agency’s estimate Request for Form 8275 and 8275–R disqualified organization, the amount of the burden of the collection of due if the tax is waived, and the excise AGENCY: Internal Revenue Service (IRS), information; (c) ways to enhance the tax due on pass-through entities with Treasury. quality, utility, and clarity of the interests held by disqualified ACTION: Notice and request for information to be collected; (d) ways to organizations. comments. minimize the burden of the collection of Current Actions: There is no changes ehiers on DSK5VPTVN1PROD with NOTICES information on respondents, including being made to Form 8831 at this time. SUMMARY: The Department of the through the use of automated collection Type of Review: Extension of a Treasury, as part of its continuing effort techniques or other forms of information currently approved collection. to reduce paperwork and respondent technology; and (e) estimates of capital Affected Public: Business or other for- burden, invites the general public and or start-up costs and costs of operation, profit organizations. other Federal agencies to take this maintenance, and purchase of services Estimated Number of Respondents: opportunity to comment on proposed to provide information. 31. and/or continuing information VerDate Sep<11>2014 15:04 Jul 05, 2016 Jkt 238001 PO 00000 Frm 00105 Fmt 4703 Sfmt 4703 E:\FR\FM\06JYN1.SGM 06JYN1

Federal Register / Vol. 81, No. 129 / Wednesday, July 6, 2016 / Notices 44091 collections, as required by the revenue law. Generally, tax returns and Reference Price: The reference price Paperwork Reduction Act of 1995, tax return information are confidential, under section 45K(d)(2)(C) for calendar Public Law 104–13 (44 U.S.C. as required by 26 U.S.C. 6103. year 2015 is $44.39. 3506(c)(2)(A)). Currently, the IRS is Request for Comments: Comments FOR FURTHER INFORMATION CONTACT: soliciting comments concerning Form submitted in response to this notice will Martha Garcia, CC:PSI:6, Internal 8275, Disclosure Statement, and Form be summarized and/or included in the Revenue Service, 1111 Constitution 8275–R, Regulation Disclosure request for OMB approval. All Avenue NW., Washington, DC 20224, Statement. comments will become a matter of Telephone Number (202) 317–6853 (not DATES: Written comments should be public record. Comments are invited on: a toll-free number). received on or before September 6, 2016 (a) Whether the collection of Christopher T. Kelley, to be assured of consideration. information is necessary for the proper Special Counsel to the Associate Chief ADDRESSES: Direct all written comments performance of the functions of the Counsel, (Passthroughs and Special to Tuawana Pinkston, Internal Revenue agency, including whether the Industries). Service, Room 6526, 1111 Constitution information shall have practical utility; [FR Doc. 2016–15936 Filed 7–5–16; 8:45 am] Avenue NW., Washington, DC 20224. (b) the accuracy of the agency’s estimate BILLING CODE 4830–01–P FOR FURTHER INFORMATION CONTACT: of the burden of the collection of Requests for additional information or information; (c) ways to enhance the copies of the form and instructions quality, utility, and clarity of the DEPARTMENT OF THE TREASURY should be directed to Allan Hopkins at information to be collected; (d) ways to Internal Revenue Service, Room 6129, minimize the burden of the collection of Internal Revenue Service 1111 Constitution Avenue NW., information on respondents, including Washington, DC 20224, or through the through the use of automated collection Proposed Collection; Comment internet at Allan.M.Hopkins@irs.gov. techniques or other forms of information Request for Regulation Project technology; and (e) estimates of capital SUPPLEMENTARY INFORMATION: AGENCY: Internal Revenue Service (IRS), or start-up costs and costs of operation, Title: Disclosure Statement (Form Treasury. maintenance, and purchase of services 8275) and Regulation Disclosure ACTION: Notice and request for to provide information. Statement (Form 8275–R). comments. OMB Number: 1545–0889. Approved: June 29, 2016. Form Number: Forms 8275 and 8275– Allan Hopkins, SUMMARY: The Department of the R. Tax Analyst. Treasury, as part of its continuing effort Abstract: Internal Revenue Code [FR Doc. 2016–15905 Filed 7–5–16; 8:45 am] to reduce paperwork and respondent section 6662 imposes accuracy-related BILLING CODE 4830–01–P burden, invites the general public and penalties on taxpayers for substantial other Federal agencies to take this understatement of tax liability or opportunity to comment on proposed negligence or disregard of rules and DEPARTMENT OF THE TREASURY and/or continuing information regulations. Code section 6694 imposes collections, as required by the similar penalties on return preparers. Internal Revenue Service Paperwork Reduction Act of 1995, Regulations sections 1.662–4(e) and (f) Public Law 104–13 (44 U.S.C. provide for reduction of these penalties Publication of Nonconventional Source 3506(c)(2)(A)). Currently, the IRS is if adequate disclosure of the tax Production Credit Reference Price for soliciting comments concerning TD treatment is made on Form 8275 or, if Calendar Year 2015 9107, Guidance Regarding Deduction the position is contrary to regulation on and Capitalization of Expenditures. Form 8275–R. AGENCY: Internal Revenue Service (IRS), DATES: Written comments should be Current Actions: There are no changes Treasury. received on or before September 6, 2016 to the forms at this time. ACTION: Notice. to be assured of consideration. Type of Review: Extension of a ADDRESSES: Direct all written comments currently approved collection. SUMMARY: Publication of the reference to Tuawana Pinkston, Internal Revenue Affected Public: Business or other for- price for the nonconventional source Service, Room 6526, 1111 Constitution profit organizations and individuals, production credit for calendar year Avenue NW., Washington, DC 20224. not-for-profit institutions, and farms. 2015. The credit period for Estimated Number of Responses: FOR FURTHER INFORMATION CONTACT: nonconventional source production Requests for additional information or 666,666. credit ended on December 31, 2013 for Estimated Time per Response: 5 copies of this regulation should be facilities producing coke or coke gas directed to Martha R. Brinson, Internal hours, 34 minutes. (other than from petroleum based Estimated Total Annual Burden Revenue Service, Room 6526, 1111 products). However, the reference price Constitution Avenue NW., Washington, Hours: 3,716,664. continues to apply in determining the The following paragraph applies to all DC 20224, or through the Internet at amount of the enhanced oil recovery Martha.R.Brinson@irs.gov. of the collections of information covered credit under section 43, the marginal by this notice: SUPPLEMENTARY INFORMATION: well production credit under section An agency may not conduct or Title: Guidance Regarding Deduction 45I, and the percentage depletion in sponsor, and a person is not required to and Capitalization of Expenditures. case of oil and natural gas produced ehiers on DSK5VPTVN1PROD with NOTICES respond to, a collection of information OMB Number: 1545–1870. from marginal properties under section unless the collection of information Regulation Project Number: TD 9107. 613A. displays a valid OMB control number. Abstract: The information required to Books or records relating to a collection DATES: The reference price under be retained by taxpayers will constitute of information must be retained as long section 45K(d)(2)(C) for calendar year sufficient documentation for purposes as their contents may become material 2015 applies for purposes of sections 43, of substantiating a deduction. The in the administration of any internal 45I, and 613A for taxable year 2016. information will be used by the agency VerDate Sep<11>2014 15:04 Jul 05, 2016 Jkt 238001 PO 00000 Frm 00106 Fmt 4703 Sfmt 4703 E:\FR\FM\06JYN1.SGM 06JYN1


Document Created: 2016-07-06 07:55:49
Document Modified: 2016-07-06 07:55:49
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 6, 2016 to be assured of consideration.
ContactRequests for additional information or copies of the form and instructions should be directed to Allan Hopkins at Internal Revenue Service, Room 6129, 1111 Constitution Avenue NW., Washington, DC 20224, or through the internet at [email protected]
FR Citation81 FR 44090 
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