81_FR_52115 81 FR 51964 - Proposed Collection; Comment Request for Regulation Project

81 FR 51964 - Proposed Collection; Comment Request for Regulation Project

DEPARTMENT OF THE TREASURY
Internal Revenue Service

Federal Register Volume 81, Issue 151 (August 5, 2016)

Page Range51964-51965
FR Document2016-18617

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 TD 8770, Certain Transfers of Stock or Securities by U.S. Persons to Foreign Corporations and Related Reporting Requirements; and TD 8662, Stock Transfer Rules.

Federal Register, Volume 81 Issue 151 (Friday, August 5, 2016) 
[Federal Register Volume 81, Number 151 (Friday, August 5, 2016)]
[Notices]
[Pages 51964-51965]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-18617]


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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)). Currently, the IRS is soliciting comments concerning TD 
8770, Certain Transfers of Stock or Securities by U.S. Persons to 
Foreign Corporations and Related Reporting Requirements; and TD 8662, 
Stock Transfer Rules.

DATES: Written comments should be received on or before October 4, 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 regulations should be directed to Martha R. Brinson, 
Internal Revenue Service, Room 6129, 1111 Constitution Avenue NW., 
Washington, DC 20224, or through the Internet at 
[email protected].

SUPPLEMENTARY INFORMATION: 
    Title: TD 8770, Certain Transfers of Stock or Securities by U.S. 
Persons to Foreign Corporations and Related Reporting Requirements; and 
TD 8862, Stock Transfer Rules.
    OMB Number: 1545-1271.
    Regulation Project Number: TD 8770 and TD 8662.
    Abstract: A United States entity must generally file a gain 
recognition agreement with the IRS in order to defer gain on a Code 
section 367(a) transfer of stock to a foreign corporation, and must 
file a notice with the IRS if it realizes any income in a Code section 
367(b) exchange. These regulations provide guidance and reporting 
requirements related to these transactions to ensure compliance with 
the respective Code sections.
    Current Actions: There are no changes to these existing 
regulations.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents: 580.
    Estimated Time per Respondent: 4 hours, 7 minutes.
    Estimated Total Annual Burden Hours: 2,390.
    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

[[Page 51965]]

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: July 28, 2016.
Tuawana Pinkston,
IRS Reports Clearance Officer.
[FR Doc. 2016-18617 Filed 8-4-16; 8:45 am]
 BILLING CODE 4830-01-P

51964 Federal Register / Vol. 81, No. 151 / Friday, August 5, 2016 / Notices web address, using any of the following To incorporate these changes and to reduce paperwork and respondent methods: provide the most useful and current burden, invites the general public and • Email: 9-faa-arp-pfc-order-55001b@ program guidance to agency employees, other Federal agencies to take this faa.gov. the Office of Airport Planning and opportunity to comment on proposed • Facsimile: (202) 267–5302. Programming, Financial Assistance and/or continuing information • Mail: FAA Office of Airports, Office Division has drafted an updated version collections, as required by the of Airport Planning and Programming, to revise the Order to maximize its Paperwork Reduction Act of 1995, Financial Analysis and PFC Branch clarity. This update is a fundamental Public Law 104–13 (44 U.S.C. (APP–510), Room 619E, 800 rewrite of FAA Order 5500.1, the 3506(c)(2)(A)). Currently, the IRS is Independence Avenue SW., current version of the PFC Order. The soliciting comments concerning TD Washington, DC 20591. update clarifies the different 8770, Certain Transfers of Stock or For more information on the notice responsibilities of the FAA Office of Securities by U.S. Persons to Foreign and comment process, see the Airports staff and those of public Corporations and Related Reporting SUPPLEMENTARY INFORMATION section of agencies applying to collect and use Requirements; and TD 8662, Stock this document. Privacy: PFCs. The update also clarifies the Transfer Rules. FOR FURTHER INFORMATION CONTACT: Joe responsibilities of air carriers collecting, DATES: Written comments should be Hebert, Manager, Financial Analysis handling, and remitting PFCs to public received on or before October 4, 2016 to and Passenger Facility Charge Branch, agencies. This updated version of the be assured of consideration. APP–510, Federal Aviation Order includes the requirements for all ADDRESSES: Direct all written comments Administration, 800 Independence PFC funded projects and can be used as to Tuawana Pinkston, Internal Revenue Avenue SW., Washington, DC 20591, a ready-reference for project-specific Service, Room 6526, 1111 Constitution telephone (202) 267–8375; facsimile requirements. Avenue NW., Washington, DC 20224. (202) 267–5302, email joe.hebert@ Invitation for Public Comment FOR FURTHER INFORMATION CONTACT: faa.gov. Requests for additional information or While the FAA generally does not SUPPLEMENTARY INFORMATION: request public comment on internal copies of the regulations should be orders, the agency is offering this directed to Martha R. Brinson, Internal Availability of Documents opportunity for public comment in Revenue Service, Room 6129, 1111 You can get an electronic copy of this recognition of the interest of multiple Constitution Avenue NW., Washington, notice and the Draft PFC Order 5500.1B stakeholders of the aviation industry in DC 20224, or through the Internet at by visiting the FAA’s Airports Web page PFCs. The agency will consider all Martha.R.Brinson@irs.gov. at http://www.faa.gov/airports/ after comments received by the closing date SUPPLEMENTARY INFORMATION: August 1, 2016. of the comment period in finalizing this Title: TD 8770, Certain Transfers of Background Order. Comments received after that Stock or Securities by U.S. Persons to date may be considered if consideration Foreign Corporations and Related The Passenger Facility Charge Reporting Requirements; and TD 8862, Program (PFC) is an airport capital will not delay agency action on the Order. Stock Transfer Rules. funding program, established by the OMB Number: 1545–1271. Comments should be submitted on Airport Safety and Capacity Expansion Regulation Project Number: TD 8770 the Draft PFC Order 5500.1B Comment Act of 1990 as amended, 49 U.S.C. and TD 8662. Form, which is available for 40117 et seq. Order 5500.1, Passenger Abstract: A United States entity must downloading at http://www.faa.gov/ Facility Charge, issued August 9, 2001, generally file a gain recognition airports/. Comments that are not provides instructions and sets forth agreement with the IRS in order to defer submitted on the Draft PFC Order policy and procedures used in the gain on a Code section 367(a) transfer of 5500.1B Comment Form may be administration of PFC Program. The stock to a foreign corporation, and must considered only if consideration will PFC Program allows the collection and file a notice with the IRS if it realizes not delay agency action on the Order. use of fees up to $4.50 per enplaned any income in a Code section 367(b) passenger at commercial airports Issued in Washington, DC, on July 29, 2016. exchange. These regulations provide controlled by public agencies. guidance and reporting requirements The primary audience for this order is Elliott Black, related to these transactions to ensure all FAA employees with Passenger Director, Office of Airport Planning and compliance with the respective Code Facility Charge (PFC) responsibilities. Programming. sections. The secondary audience includes Public [FR Doc. 2016–18670 Filed 8–4–16; 8:45 am] Current Actions: There are no changes Agencies and Air Carriers involved with BILLING CODE 4910–13–P to these existing regulations. collecting, using, and reporting PFC Type of Review: Extension of a revenues. This Order, once finalized, is currently approved collection. intended to replace the above referenced DEPARTMENT OF THE TREASURY Affected Public: Business or other for- 2001 PFC Order with updated profit organizations. information that reflects current Internal Revenue Service Estimated Number of Respondents: legislation, regulation, and policy. The 580. Office of Airports reorganized and Proposed Collection; Comment Estimated Time per Respondent: 4 revised this Order to clarify what is Request for Regulation Project mstockstill on DSK3G9T082PROD with NOTICES hours, 7 minutes. required by law and policy and to AGENCY: Internal Revenue Service (IRS), Estimated Total Annual Burden incorporate PFC Updates 35–02 (dated Treasury. Hours: 2,390. October 5, 2001) though 69–12 (dated ACTION: Notice and request for The following paragraph applies to all September 14, 2012). comments. of the collections of information covered Since 2001, there have been by this notice: substantial changes to the laws, SUMMARY: The Department of the An agency may not conduct or regulation, and policies relating to PFCs. Treasury, as part of its continuing effort sponsor, and a person is not required to VerDate Sep<11>2014 17:42 Aug 04, 2016 Jkt 238001 PO 00000 Frm 00125 Fmt 4703 Sfmt 4703 E:\FR\FM\05AUN1.SGM 05AUN1

Federal Register / Vol. 81, No. 151 / Friday, August 5, 2016 / Notices 51965 respond to, a collection of information Committee Act, 5 U.S.C. App. (1988) 888–912–1227 or (202) 317–4110, or unless the collection of information that a meeting of the Taxpayer write TAP Office, 1111 Constitution displays a valid OMB control number. Advocacy Panel Special Projects Avenue NW., Room 1509—National Books or records relating to a collection Committee will be held Tuesday, Office, Washington, DC 20224, or of information must be retained as long September 6, 2016, at 1:00 p.m. Eastern contact us at the Web site: http:// as their contents may become material Time via teleconference. The public is www.improveirs.org. in the administration of any internal invited to make oral comments or The committee will be discussing revenue law. Generally, tax returns and submit written statements for various issues related to Taxpayer tax return information are confidential, consideration. Due to limited Communications and public input is as required by 26 U.S.C. 6103. conference lines, notification of intent welcome. Request for Comments: Comments to participate must be made with Kim submitted in response to this notice will Vinci. For more information please Dated: August 1, 2016. be summarized and/or included in the contact: Kim Vinci at 1–888–912–1227 Shawn Collins, request for OMB approval. All or 916–974–5086, TAP Office, 4330 Acting Director, Taxpayer Advocacy Panel. comments will become a matter of Watt Ave, Sacramento, CA 95821, or [FR Doc. 2016–18623 Filed 8–4–16; 8:45 am] public record. Comments are invited on: contact us at the Web site: http:// BILLING CODE 4830–01–P (a) Whether the collection of www.improveirs.org. information is necessary for the proper The agenda will include a discussion performance of the functions of the on various special topics with IRS DEPARTMENT OF THE TREASURY agency, including whether the processes. information shall have practical utility; Dated: August 1, 2016. Internal Revenue Service (b) the accuracy of the agency’s estimate Shawn Collins, of the burden of the collection of Open Meeting of the Taxpayer Acting Director, Taxpayer Advocacy Panel. Advocacy Panel Toll-Free Phone Line information; (c) ways to enhance the [FR Doc. 2016–18618 Filed 8–4–16; 8:45 am] Project Committee; Correction quality, utility, and clarity of the information to be collected; (d) ways to BILLING CODE 4830–01–P minimize the burden of the collection of AGENCY: Internal Revenue Service (IRS), information on respondents, including Treasury. through the use of automated collection DEPARTMENT OF THE TREASURY ACTION: Notice of meeting; correction. techniques or other forms of information Internal Revenue Service technology; and (e) estimates of capital SUMMARY: In the Federal Register notice or start-up costs and costs of operation, Open Meeting of the Taxpayer that was originally published on July 8, maintenance, and purchase of services Advocacy Panel Taxpayer 2016, (Volume 81, Number 131, Page to provide information. Communications Project Committee 44686) the date was August 17, 2016 at Approved: July 28, 2016. AGENCY: Internal Revenue Service (IRS) 2:30 p.m., Eastern Time. The new Tuawana Pinkston, Treasury. meeting date is: Wednesday, August 24, IRS Reports Clearance Officer. 2016, at 2:30 p.m., Eastern Time. ACTION: Notice of meeting. [FR Doc. 2016–18617 Filed 8–4–16; 8:45 am] The meeting will be held DATES: BILLING CODE 4830–01–P SUMMARY: An open meeting of the Wednesday, August 24, 2016. Taxpayer Advocacy Panel Taxpayer Communications Project Committee will FOR FURTHER INFORMATION CONTACT: DEPARTMENT OF THE TREASURY be conducted. The Taxpayer Advocacy Linda Rivera at 1–888–912–1227 or Panel is soliciting public comments, (202) 317–3337. Internal Revenue Service ideas, and suggestions on improving SUPPLEMENTARY INFORMATION: Notice is customer service at the Internal Revenue hereby given pursuant to Section Open Meeting of the Taxpayer Service. 10(a)(2) of the Federal Advisory Advocacy Panel Special Projects Committee DATES: The meeting will be held Committee Act, 5 U.S.C. App. (1988) Thursday, September 15, 2016. that an open meeting of the Taxpayer AGENCY: Internal Revenue Service (IRS), FOR FURTHER INFORMATION CONTACT: Advocacy Panel Toll Free Project Treasury. Antoinette Ross at 1–888–912–1227 or Committee will be held Wednesday, ACTION: Notice of meeting. (202) 317–4110. August 24, 2016, at 2:30 p.m. Eastern SUPPLEMENTARY INFORMATION: Notice is Time via teleconference. The public is SUMMARY: An open meeting of the invited to make oral comments or Taxpayer Advocacy Panel Special hereby given pursuant to Section 10(a)(2) of the Federal Advisory submit written statements for Projects Committee will be conducted. consideration. Due to limited The Taxpayer Advocacy Panel is Committee Act, 5 U.S.C. App. (1988) that an open meeting of the Taxpayer conference lines, notification of intent soliciting public comments, ideas, and to participate must be made with Linda suggestions on improving customer Advocacy Panel Taxpayer Communications Project Committee will Rivera. For more information please service at the Internal Revenue Service. contact: Ms. Rivera at 1–888–912–1227 be held Thursday, September 15, 2016, DATES: The meeting will be held or (202) 317–3337, or write TAP Office, at 2:00 p.m. Eastern Time via mstockstill on DSK3G9T082PROD with NOTICES Tuesday, September 6, 2016. 1111 Constitution Avenue NW., Room teleconference. The public is invited to FOR FURTHER INFORMATION CONTACT: Kim make oral comments or submit written 1509—National Office, Washington, DC Vinci at 1–888–912–1227 or 916–974– statements for consideration. Due to 20224, or contact us at the Web site: 5086. limited conference lines, notification of http://www.improveirs.org. SUPPLEMENTARY INFORMATION: Notice is intent to participate must be made with The committee will be discussing hereby given pursuant to Section Antoinette Ross. For more information Toll-free issues and public input is 10(a)(2) of the Federal Advisory please contact: Antoinette Ross at 1– welcomed. VerDate Sep<11>2014 17:42 Aug 04, 2016 Jkt 238001 PO 00000 Frm 00126 Fmt 4703 Sfmt 4703 E:\FR\FM\05AUN1.SGM 05AUN1


Document Created: 2016-08-05 06:43:24
Document Modified: 2016-08-05 06:43:24
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 October 4, 2016 to be assured of consideration.
ContactRequests for additional information or copies of the regulations should be directed to Martha R. Brinson, Internal Revenue Service, Room 6129, 1111 Constitution Avenue NW., Washington, DC 20224, or through the Internet at [email protected]
FR Citation81 FR 51964 
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