81_FR_66929 81 FR 66741 - Proposed Collection; Comment Request on Disclosure Requirements With Respect to Prohibited Tax Shelter Transactions

81 FR 66741 - Proposed Collection; Comment Request on Disclosure Requirements With Respect to Prohibited Tax Shelter Transactions

DEPARTMENT OF THE TREASURY
Internal Revenue Service

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

Page Range66741-66742
FR Document2016-23404

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, Disclosure Requirements With Respect to Prohibited Tax Shelter Transactions.

Federal Register, Volume 81 Issue 188 (Wednesday, September 28, 2016) 
[Federal Register Volume 81, Number 188 (Wednesday, September 28, 2016)]
[Notices]
[Pages 66741-66742]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-23404]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request on Disclosure Requirements 
With Respect to Prohibited Tax Shelter Transactions

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, 
Disclosure Requirements With Respect to Prohibited Tax Shelter 
Transactions.

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 6527, 1111 Constitution Avenue NW., Washington, 
DC 20224.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the regulation should be directed to R. Joseph Durbala, (202) 
317-5746, at Internal Revenue Service, Room 6129, 1111 Constitution 
Avenue

[[Page 66742]]

NW., Washington, DC 20224, or through the internet at 
[email protected].

SUPPLEMENTARY INFORMATION: 
    Title: Disclosure Requirements With Respect to Prohibited Tax 
Shelter Transactions.
    OMB Number: 1545-2079.
    Form Number: TD 9334.
    Abstract: This document contains final regulations that provide 
guidance under section 4965 of the Internal Revenue Code (``Code''), 
relating to excise taxes with respect to prohibited tax shelter 
transactions to which tax-exempt entities are parties, and sections 
6033(a)(2) and 6011(g) of the Code, relating to certain disclosure 
obligations with respect to such transactions.
    Current Actions: There is no change in the paperwork burden 
previously approved by OMB.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals and Households, Businesses and other 
for-profit organizations.
    Estimated Number of Respondents: 6,500.
    Estimated Time per Respondent: 15 hours 9 minutes.
    Estimated Total Annual Burden Hours: 98,500.
    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 21, 2016.
R. Joseph Durbala,
IRS, Tax Analyst.
[FR Doc. 2016-23404 Filed 9-27-16; 8:45 am]
BILLING CODE 4830-01-P

Federal Register / Vol. 81, No. 188 / Wednesday, September 28, 2016 / Notices 66741 respond to, a collection of information DATES: Written comments should be comments will become a matter of unless the collection of information received on or before November 28, public record. Comments are invited on: displays a valid OMB control number. 2016 to be assured of consideration. (a) Whether the collection of Books or records relating to a collection ADDRESSES: Direct all written comments information is necessary for the proper of information must be retained as long to Tuawana Pinkston, Internal Revenue performance of the functions of the as their contents may become material Service, Room 6526, 1111 Constitution agency, including whether the in the administration of any internal Avenue NW., Washington, DC 20224. information shall have practical utility; revenue law. Generally, tax returns and FOR FURTHER INFORMATION CONTACT: (b) the accuracy of the agency’s estimate tax return information are confidential, Requests for additional information or of the burden of the collection of as required by 26 U.S.C. 6103. copies of the revenue procedure should information; (c) ways to enhance the Request for Comments: Comments be directed to Martha R. Brinson, quality, utility, and clarity of the submitted in response to this notice will Internal Revenue Service, Room 6129, information to be collected; (d) ways to be summarized and/or included in the 1111 Constitution Avenue NW., minimize the burden of the collection of request for OMB approval. All Washington, DC 20224, or through the information on respondents, including comments will become a matter of Internet at Martha.R.Brinson@irs.gov. through the use of automated collection public record. Comments are invited on: techniques or other forms of information SUPPLEMENTARY INFORMATION: (a) Whether the collection of technology; and (e) estimates of capital information is necessary for the proper Title: Voluntary Compliance on Alien or start-up costs and costs of operation, performance of the functions of the Withholding Program (‘‘VCAP’’). maintenance, and purchase of services OMB Number: 1545–1735. agency, including whether the to provide information. Revenue Procedure Number: Revenue information shall have practical utility; Approved: September 20, 2016. Procedure 2001–20. (b) the accuracy of the agency’s estimate Abstract: This revenue procedure will Tuawana Pinkston, of the burden of the collection of improve voluntary compliance of IRS Reports Clearance Officer. information; (c) ways to enhance the colleges and universities in connection [FR Doc. 2016–23395 Filed 9–27–16; 8:45 am] quality, utility, and clarity of the with their obligations to report, information to be collected; (d) ways to BILLING CODE 4830–01–P withhold and pay taxes due on minimize the burden of the collection of compensation paid to foreign students information on respondents, including and scholars (nonresident aliens). The DEPARTMENT OF THE TREASURY through the use of automated collection revenue procedure provides an optional techniques or other forms of information Internal Revenue Service opportunity for colleges and universities technology; and (e) estimates of capital which have not fully complied with or start-up costs and costs of operation, Proposed Collection; Comment their tax obligations concerning maintenance, and purchase of services Request on Disclosure Requirements nonresident aliens to self-audit and to provide information. With Respect to Prohibited Tax Shelter come into compliance with applicable Approved: September 19, 2016. reporting and payment requirements. Transactions Tuawana Pinkston, Current Actions: There are no changes AGENCY: Internal Revenue Service (IRS), IRS Reports Clearance Officer. being made to the revenue procedure at Treasury. [FR Doc. 2016–23398 Filed 9–27–16; 8:45 am] this time. ACTION: Notice and request for BILLING CODE 4830–01–P Type of Review: Extension of a currently approved collection. comments. Affected Public: Not-for-profit SUMMARY: The Department of the DEPARTMENT OF THE TREASURY institutions, and state, local or tribal Treasury, as part of its continuing effort governments. to reduce paperwork and respondent Internal Revenue Service Estimated Number of Respondents: burden, invites the general public and 495. other Federal agencies to take this Proposed Collection; Comment Estimated Time per Respondent: 700 Request for Revenue Procedure 2001– opportunity to comment on proposed hours. and/or continuing information 20 Estimated Total Annual Burden collections, as required by the AGENCY: Internal Revenue Service (IRS), Hours: 346,500. Paperwork Reduction Act of 1995, Treasury. The following paragraph applies to all Public Law 104–13 (44 U.S.C. ACTION: Notice and request for of the collections of information covered 3506(c)(2)(A)). Currently, the IRS is comments. by this notice: soliciting comments concerning, An agency may not conduct or Disclosure Requirements With Respect SUMMARY: The Department of the sponsor, and a person is not required to to Prohibited Tax Shelter Transactions. Treasury, as part of its continuing effort respond to, a collection of information DATES: Written comments should be to reduce paperwork and respondent unless the collection of information burden, invites the general public and displays a valid OMB control number. received on or before November 28, other Federal agencies to take this Books or records relating to a collection 2016 to be assured of consideration. opportunity to comment on proposed of information must be retained as long ADDRESSES: Direct all written comments and/or continuing information as their contents may become material to Tuawana Pinkston, Internal Revenue collections, as required by the in the administration of any internal Service, Room 6527, 1111 Constitution mstockstill on DSK3G9T082PROD with NOTICES Paperwork Reduction Act of 1995, revenue law. Generally, tax returns and Avenue NW., Washington, DC 20224. Public Law 104–13 (44 U.S.C. tax return information are confidential, FOR FURTHER INFORMATION CONTACT: 3506(c)(2)(A)). Currently, the IRS is as required by 26 U.S.C. 6103. Requests for additional information or soliciting comments concerning Request for Comments: Comments copies of the regulation should be Revenue Procedure 2001–20, Voluntary submitted in response to this notice will directed to R. Joseph Durbala, (202) Compliance on Alien Withholding be summarized and/or included in the 317–5746, at Internal Revenue Service, Program (‘‘VCAP’’). request for OMB approval. All Room 6129, 1111 Constitution Avenue VerDate Sep<11>2014 18:04 Sep 27, 2016 Jkt 238001 PO 00000 Frm 00122 Fmt 4703 Sfmt 4703 E:\FR\FM\28SEN1.SGM 28SEN1

66742 Federal Register / Vol. 81, No. 188 / Wednesday, September 28, 2016 / Notices NW., Washington, DC 20224, or through or start-up costs and costs of operation, OMB Number: 1545–2241. the internet at RJoseph.Durbala@irs.gov. maintenance, and purchase of services Form Number(s): 14452, 14453, SUPPLEMENTARY INFORMATION: to provide information. 14454, 14457, 14467, 14653, 14654, and Title: Disclosure Requirements With Approved: September 21, 2016. 14708. Respect to Prohibited Tax Shelter Abstract: The IRS is offering people R. Joseph Durbala, Transactions. with undisclosed income from offshore IRS, Tax Analyst. accounts an opportunity to get current OMB Number: 1545–2079. [FR Doc. 2016–23404 Filed 9–27–16; 8:45 am] Form Number: TD 9334. with their tax returns. Taxpayers with Abstract: This document contains BILLING CODE 4830–01–P undisclosed foreign accounts or entities final regulations that provide guidance should make a voluntary disclosure under section 4965 of the Internal because it enables them to become DEPARTMENT OF THE TREASURY compliant, avoid substantial civil Revenue Code (‘‘Code’’), relating to excise taxes with respect to prohibited penalties and generally eliminate the Internal Revenue Service tax shelter transactions to which tax- risk of criminal prosecution. The exempt entities are parties, and sections Proposed Collection; Comment objective is to bring taxpayers that have 6033(a)(2) and 6011(g) of the Code, Request on Information Collection used undisclosed foreign accounts and relating to certain disclosure obligations Tools Relating to the Offshore undisclosed foreign entities to avoid or with respect to such transactions. Voluntary Disclosure Program (OVDP) evade tax into compliance with United Current Actions: There is no change States tax laws. AGENCY: Internal Revenue Service (IRS), Current Actions: There is no change in the paperwork burden previously Treasury. in the paperwork burden previously approved by OMB. Type of Review: Extension of a ACTION: Notice and request for approved by OMB. comments. Type of Review: Extension of currently approved collection. currently approved collection. Affected Public: Individuals and SUMMARY: The Department of the Affected Public: Individuals or Households, Businesses and other for- Treasury, as part of its continuing effort households. profit organizations. to reduce paperwork and respondent Estimated Number of Responses: Estimated Number of Respondents: burden, invites the general public and 474,000. 6,500. other Federal agencies to take this Estimated Time per Respondent: 1 Estimated Time per Respondent: 15 opportunity to comment on proposed hour 40 mins. hours 9 minutes. and/or continuing information Estimated Total Annual Burden Estimated Total Annual Burden collections, as required by the Hours: 757,000. Hours: 98,500. Paperwork Reduction Act of 1995, The following paragraph applies to all The following paragraph applies to all Public Law 104–13 (44 U.S.C. of the collections of information covered of the collections of information covered 3506(c)(2)(A)). Currently, the IRS is by this notice: by this notice: soliciting comments concerning the An agency may not conduct or An agency may not conduct or Offshore Voluntary Disclosure Program sponsor, and a person is not required to sponsor, and a person is not required to (OVDP). respond to, a collection of information respond to, a collection of information unless the collection of information DATES: Written comments should be unless the collection of information displays a valid OMB control number. received on or before November 28, displays a valid OMB control number. Books or records relating to a collection 2016 to be assured of consideration. Books or records relating to a collection of information must be retained as long of information must be retained as long ADDRESSES: Direct all written comments as their contents may become material as their contents may become material to Tuawana Pinkston, Internal Revenue in the administration of any internal in the administration of any internal Service, Room 6527, 1111 Constitution revenue law. Generally, tax returns and revenue law. Generally, tax returns and Avenue NW., Washington, DC 20224. tax return information are confidential, tax return information are confidential, Please send separate comments for each as required by 26 U.S.C. 6103. as required by 26 U.S.C. 6103. specific information collection listed Request for Comments: Comments Request for Comments: Comments below. You must reference the submitted in response to this notice will submitted in response to this notice will information collection’s title, form be summarized and/or included in the be summarized and/or included in the number, reporting or record-keeping request for OMB approval. All request for OMB approval. All requirement number, and OMB number comments will become a matter of comments will become a matter of (if any) in your comment. public record. Comments are invited on: public record. Comments are invited on: FOR FURTHER INFORMATION CONTACT: (a) Whether the collection of (a) Whether the collection of Requests for additional information or information is necessary for the proper information is necessary for the proper copies of the collection tools should be performance of the functions of the performance of the functions of the directed to R. Joseph Durbala, Internal agency, including whether the agency, including whether the Revenue Service, Room 6129, 1111 information shall have practical utility; information shall have practical utility; Constitution Avenue NW., Washington, (b) the accuracy of the agency’s estimate (b) the accuracy of the agency’s estimate DC 20224, or at (202) 317–5746, or of the burden of the collection of of the burden of the collection of through the internet at information; (c) ways to enhance the information; (c) ways to enhance the RJoseph.Durbala@irs.gov. quality, utility, and clarity of the mstockstill on DSK3G9T082PROD with NOTICES quality, utility, and clarity of the SUPPLEMENTARY INFORMATION: information to be collected; (d) ways to information to be collected; (d) ways to Currently, the IRS is seeking minimize the burden of the collection of minimize the burden of the collection of comments concerning the following information on respondents, including information on respondents, including information collection tools, reporting, through the use of automated collection through the use of automated collection and record-keeping requirements: techniques or other forms of information techniques or other forms of information Title: Offshore Voluntary Disclosure technology; and (e) estimates of capital technology; and (e) estimates of capital Program (OVDP). or start-up costs and costs of operation, VerDate Sep<11>2014 18:04 Sep 27, 2016 Jkt 238001 PO 00000 Frm 00123 Fmt 4703 Sfmt 4703 E:\FR\FM\28SEN1.SGM 28SEN1


Document Created: 2016-09-28 01:08:35
Document Modified: 2016-09-28 01:08:35
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 November 28, 2016 to be assured of consideration.
ContactRequests for additional information or copies of the regulation should be directed to R. Joseph Durbala, (202) 317-5746, at Internal Revenue Service, Room 6129, 1111 Constitution Avenue NW., Washington, DC 20224, or through the internet at [email protected]
FR Citation81 FR 66741 
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