81 FR 61736 - Proposed Collection; Comment Request for Regulation Project

DEPARTMENT OF THE TREASURY
Internal Revenue Service

Federal Register Volume 81, Issue 173 (September 7, 2016)

Page Range		61736-61737
FR Document		2016-21387

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 estate and gift taxes; qualified disclaimers of property (Section 25.2518-2(b)).

Federal Register, Volume 81 Issue 173 (Wednesday, September 7, 2016)

[Federal Register Volume 81, Number 173 (Wednesday, September 7, 2016)]
[Notices]
[Pages 61736-61737]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-21387]


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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.

-----------------------------------------------------------------------

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 
estate and gift taxes; qualified disclaimers of property (Section 
25.2518-2(b)).

DATES: Written comments should be received on or before November 7, 
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 Sara Covington, at 
Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW., 
Washington, DC 20224, or through the Internet at 
[email protected].

SUPPLEMENTARY INFORMATION: 
    Title: Estate and Gift Taxes; Qualified Disclaimers of Property.
    OMB Number: 1545-0959.
    Regulation Project Number: TD 8095.
    Abstract: Internal Revenue Code section 2518 allows a person to 
disclaim an interest in property received by gift or inheritance. The 
interest is treated as if the disclaimant never received or transferred 
such interest for Federal gift tax purposes. A qualified disclaimer 
must be in writing and delivered to the transferor or trustee.
    Current Actions: There is no change to this existing regulation.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals or households.
    Estimated Number of Respondents: 2,000.
    Estimated Time per Respondent: 30 minutes.
    Estimated Total Annual Burden Hours: 1,000.
    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.


[[Page 61737]]


    Approved: August 23, 2016.
Tuawana Pinkston,
IRS Supervisory Tax Analyst.
[FR Doc. 2016-21387 Filed 9-6-16; 8:45 am]
 BILLING CODE 4830-01-P

61736 Federal Register / Vol. 81, No. 173 / Wednesday, September 7, 2016 / Notices

analyses; (4) develop and publish information on equipment history and Title: Estate and Gift Taxes; Qualified
aggregate public reports and other data important event data to enable a better Disclaimers of Property.
produces; and (5) protect the understanding of underlying root OMB Number: 1545–0959.
confidentiality of notices and reports in causes.
Regulation Project Number: TD 8095.
accordance with BTS’ own statute (49
III. Request for Public Comment Abstract: Internal Revenue Code
U.S.C. 6307) and CIPSEA. In accordance
with these confidentiality statutes, only BTS requests comments on any section 2518 allows a person to disclaim
statistical (aggregated) and non- aspects of this information collection an interest in property received by gift
identifying data will be made publicly request, including: (1) Ways to enhance or inheritance. The interest is treated as
available by BTS through its reports. the quality, usefulness, and clarity of if the disclaimant never received or
BTS will not release to BSEE or any the collected information; and (2) ways transferred such interest for Federal gift
other public or private entity any to minimize the collection burden tax purposes. A qualified disclaimer
information that might reveal the without reducing the quality of the must be in writing and delivered to the
identity of individuals or organizations information collected, including transferor or trustee.
mentioned in failure notices or reports additional use of automated collection Current Actions: There is no change to
without explicit consent of the techniques or other forms of information this existing regulation.
respondent and any other affected technology. Type of Review: Extension of a
entities. currently approved collection.
Respondents who report a barrier- Patricia Hu,
related failure will be asked to fill out Director, Bureau of Transportation Statistics, Affected Public: Individuals or
a form based upon the requirements of Office of the Assistant Secretary for Research households.
and Technology, U.S. Department of
30 CFR 250.730(c) and cited industry Estimated Number of Respondents:
Transportation.
standards. They will also be asked to 2,000.
[FR Doc. 2016–21390 Filed 9–6–16; 8:45 am]
submit supplemental information and Estimated Time per Respondent: 30
BILLING CODE 4910–9X–P
analysis as described in 30 CFR minutes.
250.730(c) or 30 CFR 250.803 and cited
industry standards. Respondents will Estimated Total Annual Burden
have the option to mail or submit the DEPARTMENT OF THE TREASURY Hours: 1,000.
reports electronically to BTS. The following paragraph applies to all
Respondents will be asked to provide Internal Revenue Service of the collections of information covered
information such as: (1) Name and by this notice:
Proposed Collection; Comment
contact information; (2) time and Request for Regulation Project An agency may not conduct or
location of the failure event; (3) a short sponsor, and a person is not required to
description of the failure event and AGENCY: Internal Revenue Service (IRS), respond to, a collection of information
operating conditions that existed at the Treasury. unless the collection of information
time of the event; (4) contributing ACTION: Notice and request for displays a valid OMB control number.
factors to the event; (5) results of an comments. Books or records relating to a
investigation or safety analysis report; collection of information must be
(6) any design or procedural changes as SUMMARY: The Department of the
retained as long as their contents may
a result of the reported equipment Treasury, as part of its continuing effort
become material in the administration
failure; and (7) any other information to reduce paperwork and respondent
of any internal revenue law. Generally,
that might be useful in determining burden, invites the general public and
tax returns and tax return information
ways to prevents such failures from other Federal agencies to take this
are confidential, as required by 26
occurring. opportunity to comment on proposed
U.S.C. 6103.
BTS requests emergency processing of and/or continuing information
this information collection because the collections, as required by the Request for Comments: Comments
use of normal clearance procedures is Paperwork Reduction Act of 1995, submitted in response to this notice will
likely to result in the collection of only Public Law 104–13 (44 U.S.C. be summarized and/or included in the
limited data on barrier failure events 3506(c)(2)(A)). Currently, the IRS is request for OMB approval. All
during the established PRA time soliciting comments concerning estate comments will become a matter of
periods. The use of normal clearance and gift taxes; qualified disclaimers of public record. Comments are invited on:
procedures will prevent collection of property (Section 25.2518–2(b)). (a) Whether the collection of
this data during the established PRA information is necessary for the proper
DATES: Written comments should be
time periods, which will inhibit BSEE’s performance of the functions of the
received on or before November 7, 2016
ability to comprehensively assess barrier agency, including whether the
to be assured of consideration.
failures and risks, identify barrier failure information shall have practical utility;
ADDRESSES: Direct all written comments (b) the accuracy of the agency’s estimate
trends, and identify causes of critical
safety barrier failure events. to Tuawana Pinkston, Internal Revenue of the burden of the collection of
The BSEE Well Control Rule failure Service, Room 6526, 1111 Constitution information; (c) ways to enhance the
data collection for BOP equipment was Avenue NW., Washington, DC 20224. quality, utility, and clarity of the
substantially driven by an event of FOR FURTHER INFORMATION CONTACT: information to be collected; (d) ways to
major national significance, which also Requests for additional information or minimize the burden of the collection of
mstockstill on DSK3G9T082PROD with NOTICES

captured international attention. One copies of the regulations should be information on respondents, including
important element of this event was the directed to Sara Covington, at Internal through the use of automated collection
failure of BOP equipment. The event Revenue Service, Room 6526, 1111 techniques or other forms of information
resulted in the deaths of 11 people and Constitution Avenue NW., Washington, technology; and (e) estimates of capital
the largest oil spill in US history. It is DC 20224, or through the Internet at or start-up costs and costs of operation,
in the public interest to commence Sara.L.Covington@irs.gov. maintenance, and purchase of services
immediate collection of the additional SUPPLEMENTARY INFORMATION: to provide information.

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Federal Register / Vol. 81, No. 173 / Wednesday, September 7, 2016 / Notices 61737

Approved: August 23, 2016. Estimated Time per Respondent: 23 collections, as required by the
Tuawana Pinkston, hrs., 10 min. Paperwork Reduction Act of 1995,
IRS Supervisory Tax Analyst. Estimated Total Annual Reporting Public Law 104–13 (44 U.S.C.
[FR Doc. 2016–21387 Filed 9–6–16; 8:45 am] Burden Hours: 57,900. 3506(c)(2)(A)). Currently, the IRS is
BILLING CODE 4830–01–P
The following paragraph applies to all soliciting comments concerning
of the collections of information covered rescission request procedures.
by this notice: DATES: Written comments should be
DEPARTMENT OF THE TREASURY An agency may not conduct or received on or before November 7, 2016
sponsor, and a person is not required to to be assured of consideration.
Internal Revenue Service respond to, a collection of information
ADDRESSES: Direct all written comments
unless the collection of information
Proposed Collection; Comment to Tuawana Pinkston, Internal Revenue
displays a valid OMB control number.
Request for Form 8038–T Service, Room 6526, 1111 Constitution
Books or records relating to a collection
Avenue NW., Washington, DC 20224.
of information must be retained as long
AGENCY: Internal Revenue Service (IRS), FOR FURTHER INFORMATION CONTACT:
as their contents may become material
Treasury. Requests for additional information or
in the administration of any internal
ACTION: Notice and request for copies of the revenue procedure should
revenue law. Generally, tax returns and
comments. tax return information are confidential, be directed to Kerry Dennis at Internal
as required by 26 U.S.C. 6103. Revenue Service, Room 6526, 1111
SUMMARY: The Department of the Constitution Avenue NW., Washington,
Treasury, as part of its continuing effort Request for Comments: Comments
submitted in response to this notice will DC 20224, or through the internet at
to reduce paperwork and respondent Kerry.Dennis@irs.gov.
burden, invites the general public and be summarized and/or included in the
request for OMB approval. All SUPPLEMENTARY INFORMATION:
other Federal agencies to take this
comments will become a matter of Title: Revenue Procedure Regarding
opportunity to comment on proposed
public record. Comments are invited on: 6707/6707A Rescission Request
and/or continuing information
(a) Whether the collection of Procedures.
collections, as required by the
information is necessary for the proper OMB Number: 1545–2047.
Paperwork Reduction Act of 1995, Revenue Procedure Number: Revenue
Public Law 104–13 (44 U.S.C. performance of the functions of the
agency, including whether the Procedure 2007–21.
3506(c)(2)(A)). Currently, the IRS is Abstract: This revenue procedure
soliciting comments concerning Form information shall have practical utility;
(b) the accuracy of the agency’s estimate provides guidance to persons who are
8038–T, Arbitrage Rebate, Yield assessed a penalty under section 6707A
Reduction and Penalty in Lieu of of the burden of the collection of
information; (c) ways to enhance the or 6707 of the Internal Revenue Code,
Arbitrage Rebate. and who may request rescission of those
quality, utility, and clarity of the
DATES: Written comments should be penalties from the Commissioner.
information to be collected; (d) ways to
received on or before November 7, 2016 Current Actions: There are no changes
minimize the burden of the collection of
to be assured of consideration. being made to this revenue procedure.
information on respondents, including
ADDRESSES: Direct all written comments through the use of automated collection Type of Review: Extension of a
to Tuawana Pinkston, Internal Revenue techniques or other forms of information previously approved collection.
Service, Room 6526, 1111 Constitution technology; and (e) estimates of capital Affected Public: Individuals or
Avenue NW., Washington, DC 20224. or start-up costs and costs of operation, households, business or other for-profit.
FOR FURTHER INFORMATION CONTACT: maintenance, and purchase of services Estimated Number of Respondents:
Requests for additional information or to provide information. 859.
copies of the collection tools should be Estimated Time per Respondent: 0.5
Approved: August 29, 2016. hours.
directed to Sara Covington, Internal
Revenue Service, Room 6526, 1111 Tuawana Pinkston, Estimated Total Annual Burden
Constitution Avenue NW., Washington, IRS Supervisory Tax Analyst. Hours: 430.
DC 20224, or through the internet at [FR Doc. 2016–21394 Filed 9–6–16; 8:45 am] An agency may not conduct or
Sara.L.Covington@irs.gov. BILLING CODE 4830–01–P sponsor, and a person is not required to
SUPPLEMENTARY INFORMATION:
respond to, a collection of information
Title: Arbitrage Rebate, Yield unless the collection of information
Reduction and Penalty in Lieu of DEPARTMENT OF THE TREASURY displays a valid OMB control number.
Arbitrage Rebate. Books or records relating to a collection
Internal Revenue Service of information must be retained as long
OMB Number: 1545–1219.
Form Number: 8038–T. as their contents may become material
Proposed Collection; Comment in the administration of any internal
Abstract: Form 8038–T is used by
Request for Revenue Procedure revenue law. Generally, tax returns and
issuers of tax exempt bonds to report
and pay the arbitrage rebate and to elect AGENCY: Internal Revenue Service (IRS), tax return information are confidential,
and/or pay various penalties associated Treasury. as required by 26 U.S.C. 6103.
with arbitrage bonds. The issuers ACTION: Notice and request for Request for Comments: Comments
include state and local governments. comments. submitted in response to this notice will
be summarized and/or included in the
mstockstill on DSK3G9T082PROD with NOTICES

Current Actions: There are no changes
being made to Form 8038–T at this time. SUMMARY: The Department of the request for OMB approval. All
Type of Review: Extension of a Treasury, as part of its continuing effort comments will become a matter of
currently approved collection. to reduce paperwork and respondent public record. Comments are invited on:
Affected Public: State, local or tribal burden, invites the general public and (a) Whether the collection of
governments. other Federal agencies to take this information is necessary for the proper
Estimated Number of Respondents: opportunity to comment on proposed performance of the functions of the
2,500. and/or continuing information agency, including whether the

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Document Created: 2016-09-07 11:50:38
Document Modified: 2016-09-07 11:50:38

Category		Regulatory Information
Collection		Federal Register
sudoc Class		AE 2.7: GS 4.107: AE 2.106:
Publisher		Office of the Federal Register, National Archives and Records Administration
Section		Notices
Action		Notice and request for comments.
Dates		Written comments should be received on or before November 7, 2016 to be assured of consideration.
Contact		Requests for additional information or copies of the regulations should be directed to Sara Covington, at Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW., Washington, DC 20224, or through the Internet at [email protected]
FR Citation		81 FR 61736

81 FR 61736 - Proposed Collection; Comment Request for Regulation Project

DEPARTMENT OF THE TREASURYInternal Revenue Service

Federal Register Volume 81, Issue 173 (September 7, 2016)

DEPARTMENT OF THE TREASURY
Internal Revenue Service