81 FR 65716 - Submission for OMB Review; Comment Request

DEPARTMENT OF THE TREASURY

Federal Register Volume 81, Issue 185 (September 23, 2016)

[Federal Register Volume 81, Number 185 (Friday, September 23, 2016)]
[Notices]
[Pages 65716-65717]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-22994]


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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

September 20, 2016.
    The Department of the Treasury will submit the following 
information

[[Page 65717]]

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 October 24, 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: 1545-0007.
    Type of Review: Extension of a currently approved collection.
    Title: Forest Activities Schedule.
    Form: Form T.
    Abstract: Form T (Timber), Forest Activities Schedule, is used to 
provide information on timber accounts when a sale or deemed sale under 
Internal Revenue Code sections 631(a), 631(b), or other exchange has 
occurred during the tax year.
    Affected Public: Businesses or other for-profits.
    Estimated Total Annual Burden Hours: 446,208.

    OMB Control Number: 1545-1379.
    Type of Review: Extension of a currently approved collection.
    Form: 8831.
    Title: Excise Taxes on Excess Inclusions of REMIC Residual 
Interests.
    Abstract: Form 8831 is used to report and pay excise tax on any 
transfer of a residual interest in a Real Estate Mortgage Investment 
Conduit to a disqualified organization, the amount due if the tax is 
waived, or the excise tax due on pass-through entities with interests 
held by disqualified organizations.
    Affected Public: Businesses or other for-profits.
    Estimated Total Annual Burden Hours: 237.

    OMB Control Number: 1545-1566.
    Type of Review: Extension of a currently approved collection.
    Title: Notice 97-66, Certain Payments Made Pursuant to a Securities 
Lending Transaction; Notice 2010-46, Prevention of Over-Withholding of 
U.S. Tax Avoidance with Respect to Certain Substitute Dividend 
Payments.
    Abstract: The collections of information in Notice 97-66 are 
required to qualify substitute interest payments as portfolio interest 
and to defer, on election by the taxpayer, the effective date of the 
notice and the final securities lending regulations (T.D. 8735, 62 FR 
53498) for substitute payments made after December 31, 1997. The 
collection of information in Notice 2010-46 is required to prevent 
excessive taxation under Sec.  871(l) during the transition period.
    Affected Public: Businesses or other for-profits.
    Estimated Total Annual Burden Hours: 62,750.
    OMB Control Number: 1545-1870.
    Type of Review: Extension of a currently approved collection.
    Title: TD 9107--Guidance Regarding Deduction and Capitalization of 
Expenditures.
    Abstract: The collection of information in this Treasury Decision 
is in Sec.  1.263(a)-5(f). This information is required to verify the 
proper allocation of certain amounts paid in the process of 
investigating or otherwise pursuing certain transactions involving the 
acquisition of a trade or business. The collection of information is 
voluntary but required to obtain a benefit.
    Affected Public: Businesses or other for-profits.
    Estimated Total Annual Burden Hours: 3,000.
    OMB Control Number: 1545-1871.
    Type of Review: Extension of a currently approved collection.
    Title: TD 9165: Regulations Governing Practice Before the Internal 
Revenue Service.
    Abstract: The collections of information (disclosure requirements) 
in these final regulations are in Code of Federal Regulations Sec.  
10.35(e). Section 10.35(e) requires a practitioner providing a covered 
opinion to make certain disclosures in the beginning of marketed 
opinions, limited scope opinions and opinions that fail to conclude at 
a confidence level of at least more likely than not. In addition, 
certain relationships between the practitioner and a person promoting 
or marketing a tax shelter must be disclosed. A practitioner may be 
required to make one or more disclosures. The collection of this 
material helps to ensure that taxpayers who receive a tax shelter 
opinion are informed of any facts or circumstances that might limit the 
use of the opinion.
    Affected Public: Businesses or other for-profits.
    Estimated Total Annual Burden Hours: 13,333.

    OMB Control Number: 1545-2030.
    Type of Review: Extension of a currently approved collection.
    Title: REG-120509-06 (TD 9465 -Final), Determination of Interest 
Expense Deduction of Foreign Corporations.
    Abstract: Treasury Decision (TD) 9465 contains final regulations 
under section 882(c) of the Internal Revenue Code (Code) concerning the 
determination of the interest expense deduction of foreign corporations 
engaged in a trade or business within the United States. The collection 
of information in these final regulations is in Sec.  1.884-
1(e)(3)(iv). This information is required by the IRS to allow a 
taxpayer to reduce U.S. liabilities to the extent necessary to prevent 
the recognition of a dividend equivalent amount.
    Affected Public: Businesses or other for-profits.
    Estimated Total Annual Burden Hours: 35.

Brenda Simms,
Treasury PRA Clearance Officer.
[FR Doc. 2016-22994 Filed 9-22-16; 8:45 am]
 BILLING CODE 4830-35-P