81 FR 66738 - Proposed Collection; Comment Request for Form 8865

DEPARTMENT OF THE TREASURY
Internal Revenue Service

Federal Register Volume 81, Issue 188 (September 28, 2016)

Page Range		66738-66738
FR Document		2016-23415

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 8865, Return of U.S. Persons With Respect to Certain Foreign Partnerships.

Federal Register, Volume 81 Issue 188 (Wednesday, September 28, 2016)

[Federal Register Volume 81, Number 188 (Wednesday, September 28, 2016)]
[Notices]
[Page 66738]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-23415]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Form 8865

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 
Form 8865, Return of U.S. Persons With Respect to Certain Foreign 
Partnerships.

DATES: Written comments should be received on or before November 28, 
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 LaNita Van 
Dyke, or at Internal Revenue Service, Room 6526, 1111 Constitution 
Avenue NW., Washington, DC 20224, or through the internet, at 
[email protected].

SUPPLEMENTARY INFORMATION: 
    Title: Return of U.S. Persons With Respect to Certain Foreign 
Partnerships.
    OMB Number: 1545-1668.
    Form Number: 8865.
    Abstract: The Taxpayer Relief Act of 1997 significantly modified 
the information reporting requirements with respect to foreign 
partnerships. The Act made the following three changes: (1) Expanded 
Code section 6038B to require U.S. persons transferring property to 
foreign partnerships in certain transactions to report those transfers; 
(2) expanded Code section 6038 to require certain U.S. partners of 
controlled foreign partnerships to report information about the 
partnerships, and (3) modified the reporting required under Code 
section 6046A with respect to acquisitions and dispositions of foreign 
partnership interests. Form 8865 is used by U.S. persons to fulfill 
their reporting obligations under Code sections 6038B, 6038, and 6046A.
    Current Actions: There are no changes being made to this form at 
this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations, 
individuals, and not-for-profit institutions.
    Estimated Number of Respondents: 31,450.
    Estimated Time per Respondent: 74 hours, 45 minutes.
    Estimated Total Annual Burden Hours: 245,074.
    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: September 13, 2016.
Tuawana Pinkston,
IRS Reports Clearance Officer.
[FR Doc. 2016-23415 Filed 9-27-16; 8:45 am]
BILLING CODE 4830-01-P

66738 Federal Register / Vol. 81, No. 188 / Wednesday, September 28, 2016 / Notices

Type of Review: Extension of a SUMMARY: The Department of the The following paragraph applies to all
currently approved collection. Treasury, as part of its continuing effort of the collections of information covered
Affected Public: Business or other for- to reduce paperwork and respondent by this notice:
profit organizations. burden, invites the general public and An agency may not conduct or
Estimated Number of Respondents other Federal agencies to take this sponsor, and a person is not required to
and/or Recordkeeping: 300. opportunity to comment on proposed respond to, a collection of information
Estimated Average Time per and/or continuing information unless the collection of information
Respondent/Recordkeeper: 16 hr., 16 collections, as required by the displays a valid OMB control number.
min. Paperwork Reduction Act of 1995, Books or records relating to a collection
Estimated Total Annual Reporting Public Law 104–13 (44 U.S.C. of information must be retained as long
and/or Recordkeeping Burden Hours: 3506(c)(2)(A)). Currently, the IRS is as their contents may become material
4,877. soliciting comments concerning Form in the administration of any internal
The following paragraph applies to all revenue law. Generally, tax returns and
8865, Return of U.S. Persons With
of the collections of information covered tax return information are confidential,
Respect to Certain Foreign Partnerships.
by this notice: as required by 26 U.S.C. 6103.
An agency may not conduct or DATES: Written comments should be
received on or before November 28, Request for Comments: Comments
sponsor, and a person is not required to submitted in response to this notice will
respond to, a collection of information 2016 to be assured of consideration.
be summarized and/or included in the
unless the collection of information ADDRESSES: Direct all written comments request for OMB approval. All
displays a valid OMB control number. to Tuawana Pinkston, Internal Revenue comments will become a matter of
Books or records relating to a collection Service, Room 6526, 1111 Constitution public record. Comments are invited on:
of information must be retained as long Avenue NW., Washington, DC 20224. (a) Whether the collection of
as their contents may become material FOR FURTHER INFORMATION CONTACT: information is necessary for the proper
in the administration of any internal Requests for additional information or performance of the functions of the
revenue law. Generally, tax returns and copies of the form and instructions agency, including whether the
tax return information are confidential, should be directed to LaNita Van Dyke, information shall have practical utility;
as required by 26 U.S.C. 6103. or at Internal Revenue Service, Room
Request for Comments: Comments (b) the accuracy of the agency’s estimate
6526, 1111 Constitution Avenue NW., of the burden of the collection of
submitted in response to this notice will
Washington, DC 20224, or through the information; (c) ways to enhance the
be summarized and/or included in the
internet, at Lanita.VanDyke@irs.gov. quality, utility, and clarity of the
request for OMB approval. All
comments will become a matter of SUPPLEMENTARY INFORMATION: information to be collected; (d) ways to
public record. Comments are invited on: Title: Return of U.S. Persons With minimize the burden of the collection of
(a) Whether the collection of Respect to Certain Foreign Partnerships. information on respondents, including
information is necessary for the proper OMB Number: 1545–1668. through the use of automated collection
performance of the functions of the Form Number: 8865. techniques or other forms of information
agency, including whether the Abstract: The Taxpayer Relief Act of technology; and (e) estimates of capital
information shall have practical utility; 1997 significantly modified the or start-up costs and costs of operation,
(b) the accuracy of the agency’s estimate information reporting requirements with maintenance, and purchase of services
of the burden of the collection of respect to foreign partnerships. The Act to provide information.
information; (c) ways to enhance the made the following three changes: (1) Approved: September 13, 2016.
quality, utility, and clarity of the Expanded Code section 6038B to require Tuawana Pinkston,
information to be collected; (d) ways to U.S. persons transferring property to IRS Reports Clearance Officer.
minimize the burden of the collection of foreign partnerships in certain [FR Doc. 2016–23415 Filed 9–27–16; 8:45 am]
information on respondents, including transactions to report those transfers; (2)
BILLING CODE 4830–01–P
through the use of automated collection expanded Code section 6038 to require
techniques or other forms of information certain U.S. partners of controlled
technology; and (e) estimates of capital foreign partnerships to report DEPARTMENT OF THE TREASURY
or start-up costs and costs of operation, information about the partnerships, and
maintenance, and purchase of services (3) modified the reporting required Internal Revenue Service
to provide information. under Code section 6046A with respect
Approved: September 21, 2016. to acquisitions and dispositions of Proposed Collection; Comment
foreign partnership interests. Form 8865 Request for Regulation Project
R. Joseph Durbala,
is used by U.S. persons to fulfill their AGENCY: Internal Revenue Service (IRS),
IRS, Tax Analyst.
reporting obligations under Code Treasury.
[FR Doc. 2016–23428 Filed 9–27–16; 8:45 am]
sections 6038B, 6038, and 6046A.
BILLING CODE 4830–01–P ACTION: Notice and request for
Current Actions: There are no changes
comments.
being made to this form at this time.
DEPARTMENT OF THE TREASURY Type of Review: Extension of a SUMMARY: The Department of the
currently approved collection. Treasury, as part of its continuing effort
Internal Revenue Service Affected Public: Business or other for- to reduce paperwork and respondent
profit organizations, individuals, and burden, invites the general public and
mstockstill on DSK3G9T082PROD with NOTICES

Proposed Collection; Comment not-for-profit institutions. other Federal agencies to take this
Request for Form 8865 Estimated Number of Respondents: opportunity to comment on proposed
AGENCY: Internal Revenue Service (IRS), 31,450. and/or continuing information
Treasury. Estimated Time per Respondent: 74 collections, as required by the
hours, 45 minutes. Paperwork Reduction Act of 1995,
ACTION: Notice and request for
Estimated Total Annual Burden Public Law 104–13 (44 U.S.C.
comments.
Hours: 245,074. 3506(c)(2)(A)). Currently, the IRS is

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Document Created: 2016-09-28 01:08:05
Document Modified: 2016-09-28 01:08:05

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 28, 2016 to be assured of consideration.
Contact		Requests for additional information or copies of the form and instructions should be directed to LaNita Van Dyke, or at Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW., Washington, DC 20224, or through the internet, at [email protected]
FR Citation		81 FR 66738

81 FR 66738 - Proposed Collection; Comment Request for Form 8865

DEPARTMENT OF THE TREASURYInternal Revenue Service

Federal Register Volume 81, Issue 188 (September 28, 2016)

DEPARTMENT OF THE TREASURY
Internal Revenue Service