81_FR_66935 81 FR 66747 - Proposed Collection; Comment Request on Effectively Connected Income and the Branch Profits Tax

81 FR 66747 - Proposed Collection; Comment Request on Effectively Connected Income and the Branch Profits Tax

DEPARTMENT OF THE TREASURY
Internal Revenue Service

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

Page Range66747-66747
FR Document2016-23396

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 the branch tax; the branch profits Tax; and the regulations on effectively connected income and the branch profits tax.

Federal Register, Volume 81 Issue 188 (Wednesday, September 28, 2016) 
[Federal Register Volume 81, Number 188 (Wednesday, September 28, 2016)]
[Notices]
[Page 66747]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-23396]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request on Effectively Connected 
Income and the Branch Profits Tax

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 
the branch tax; the branch profits Tax; and the regulations on 
effectively connected income and the branch profits tax.

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 regulations should be directed to R. Joseph Durbala, at 
(202) 317-5746, or at Internal Revenue Service, Room 6129, 1111 
Constitution Avenue NW., Washington, DC 20224, or through the internet 
at [email protected].

SUPPLEMENTARY INFORMATION: 
    Title: TD 8223, Branch Tax; TD 8432, Branch Profits Tax; and TD 
8657, Regulations on Effectively Connected Income and the Branch 
Profits Tax.
    OMB Number: 1545-1070. Regulation Project Number: TD 8223, TD 8432, 
and TD 8657.
    Abstract: These regulations provide guidance on how to comply with 
Internal Revenue Code section 884, which imposes a tax on the earnings 
of a foreign corporation's branch that are removed from the branch and 
which subjects interest paid by the branch, and certain interest 
deducted by the foreign corporation, to tax.
    Current Actions: There is no change 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: 59,100.
    Estimated Time per Respondent: 12.887 minutes.
    Estimated Total Annual Burden Hours: 12,694.
    The following paragraph applies to all of the collections of 
1information 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. 2016-23396 Filed 9-27-16; 8:45 am]
 BILLING CODE 4830-01-P

Federal Register / Vol. 81, No. 188 / Wednesday, September 28, 2016 / Notices 66747 1111 Constitution Avenue NW., collection of information; (c) ways to OMB Number: 1545–1070. Regulation Washington, DC 20224, or at (202) 317– enhance the quality, utility, and clarity Project Number: TD 8223, TD 8432, and 5746, or through the internet at of the information to be collected; (d) TD 8657. RJoseph.Durbala@irs.gov. ways to minimize the burden of the Abstract: These regulations provide SUPPLEMENTARY INFORMATION: collection of information on guidance on how to comply with Title: Certification for No Information respondents, including through the use Internal Revenue Code section 884, Reporting on the Sale of a Principal of automated collection techniques or which imposes a tax on the earnings of Residence. other forms of information technology; a foreign corporation’s branch that are OMB Number: 1545–1592. and (e) estimates of capital or start-up removed from the branch and which Revenue Procedure Number: Revenue costs and costs of operation, subjects interest paid by the branch, and Procedure 98–20. maintenance, and purchase of services certain interest deducted by the foreign Abstract: This revenue procedure sets to provide information. corporation, to tax. forth the acceptable form of the written Approved: September 21, 2016. Current Actions: There is no change to assurances (certification) that a real these existing regulations. R. Joseph Durbala, Type of Review: Extension of a estate reporting person must obtain from IRS, Tax Analyst. currently approved collection. the seller of a principal residence to [FR Doc. 2016–23394 Filed 9–27–16; 8:45 am] Affected Public: Business or other for- except such sale or exchange from the BILLING CODE 4830–01–P profit organizations. information reporting requirements for Estimated Number of Respondents: real estate transactions under section 59,100. 6045(e)(5) of the Internal Revenue Code. DEPARTMENT OF THE TREASURY Estimated Time per Respondent: Current Actions: There are no changes 12.887 minutes. being made to the revenue procedure at Internal Revenue Service Estimated Total Annual Burden this time. Hours: 12,694. Type of Review: Extension of a Proposed Collection; Comment The following paragraph applies to all currently approved collection. Request on Effectively Connected of the collections of 1information Affected Public: Individuals or Income and the Branch Profits Tax covered by this notice: households, and business or other for- AGENCY: Internal Revenue Service (IRS), An agency may not conduct or profit organizations. Treasury. sponsor, and a person is not required to Estimated Number of Respondents: respond to, a collection of information ACTION: Notice and request for 2,300,000. unless the collection of information Estimated Time per Respondent: 10 comments. displays a valid OMB control number. minutes. SUMMARY: The Department of the Books or records relating to a collection Estimated Total Annual Burden Treasury, as part of its continuing effort of information must be retained as long Hours for Respondents: 383,000. to reduce paperwork and respondent as their contents may become material Estimated Number of Recordkeepers: burden, invites the general public and in the administration of any internal 90,000. other Federal agencies to take this revenue law. Generally, tax returns and Estimated Time per Recordkeeeper: opportunity to comment on proposed tax return information are confidential, 25 minutes. and/or continuing information as required by 26 U.S.C. 6103. Estimated Total Annual Burden collections, as required by the Request for Comments: Comments Hours for Recordkeepers: 37,500. Paperwork Reduction Act of 1995, submitted in response to this notice will The following paragraph applies to all Public Law 104–13 (44 U.S.C. be summarized and/or included in the of the collections of information covered 3506(c)(2)(A)). Currently, the IRS is request for OMB approval. All by this notice: soliciting comments concerning the comments will become a matter of An agency may not conduct or branch tax; the branch profits Tax; and public record. Comments are invited on: sponsor, and a person is not required to the regulations on effectively connected (a) Whether the collection of respond to, a collection of information income and the branch profits tax. information is necessary for the proper unless the collection of information performance of the functions of the DATES: Written comments should be displays a valid OMB control number. agency, including whether the received on or before November 28, Books or records relating to a collection information shall have practical utility; 2016 to be assured of consideration. of information must be retained as long (b) the accuracy of the agency’s estimate as their contents may become material ADDRESSES: Direct all written comments to Tuawana Pinkston, Internal Revenue of the burden of the collection of in the administration of any internal information; (c) ways to enhance the revenue law. Generally, tax returns and Service, Room 6527, 1111 Constitution Avenue NW., Washington, DC 20224. quality, utility, and clarity of the tax return information are confidential, information to be collected; (d) ways to as required by 26 U.S.C. 6103. FOR FURTHER INFORMATION CONTACT: minimize the burden of the collection of Request for Comments: Comments Requests for additional information or information on respondents, including submitted in response to this notice will copies of the regulations should be through the use of automated collection be summarized and/or included in the directed to R. Joseph Durbala, at (202) techniques or other forms of information request for OMB approval. All 317–5746, or at Internal Revenue technology; and (e) estimates of capital comments will become a matter of Service, Room 6129, 1111 Constitution or start-up costs and costs of operation, public record. Avenue NW., Washington, DC 20224, or mstockstill on DSK3G9T082PROD with NOTICES maintenance, and purchase of services Comments are invited on: (a) Whether through the internet at to provide information. the collection of information is RJoseph.Durbala@irs.gov. necessary for the proper performance of Approved: September 21, 2016. SUPPLEMENTARY INFORMATION: the functions of the agency, including Title: TD 8223, Branch Tax; TD 8432, R. Joseph Durbala, whether the information shall have Branch Profits Tax; and TD 8657, IRS, Tax Analyst. practical utility; (b) the accuracy of the Regulations on Effectively Connected [FR Doc. 2016–23396 Filed 9–27–16; 8:45 am] agency’s estimate of the burden of the Income and the Branch Profits Tax. BILLING CODE 4830–01–P VerDate Sep<11>2014 18:04 Sep 27, 2016 Jkt 238001 PO 00000 Frm 00128 Fmt 4703 Sfmt 9990 E:\FR\FM\28SEN1.SGM 28SEN1


Document Created: 2016-09-28 01:08:09
Document Modified: 2016-09-28 01:08:09
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 regulations should be directed to R. Joseph Durbala, at (202) 317-5746, or at Internal Revenue Service, Room 6129, 1111 Constitution Avenue NW., Washington, DC 20224, or through the internet at [email protected]
FR Citation81 FR 66747 
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