81_FR_81463 81 FR 81241 - Proposed Collection; Comment Request for Regulation Project

81 FR 81241 - Proposed Collection; Comment Request for Regulation Project

DEPARTMENT OF THE TREASURY
Internal Revenue Service

Federal Register Volume 81, Issue 222 (November 17, 2016)

Page Range81241-81242
FR Document2016-27586

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, Requirements to Ensure Collection of Section 2056A Estate Tax.

Federal Register, Volume 81 Issue 222 (Thursday, November 17, 2016) 
[Federal Register Volume 81, Number 222 (Thursday, November 17, 2016)]
[Notices]
[Pages 81241-81242]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-27586]


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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.

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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, 
Requirements to Ensure Collection of Section 2056A Estate Tax.

DATES: Written comments should be received on or before January 17, 
2017 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 Kerry Dennis at 
Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW., 
Washington, DC 20224, or through the Internet at [email protected].

SUPPLEMENTARY INFORMATION: 
    Title: Requirements to Ensure Collection of Section 2056A Estate 
Tax.
    OMB Number: 1545-1443.
    Regulation Project Number: TD 8686.
    Abstract: This regulation provides guidance relating to the 
additional requirements necessary to ensure the collection of the 
estate tax imposed under Internal Revenue Code section 2056A(b) with 
respect to taxable events involving qualified domestic trusts (QDOT'S). 
In order to ensure collection of the tax, the regulation provides 
various security options that may be selected by the trust and the 
requirements associated with each option. In addition, under certain 
circumstances the trust is required to file an annual statement with 
the IRS disclosing the assets held by the trust.
    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: 4,390.
    Estimated Time per Respondent: 1 hour, 23 minutes.
    Estimated Total Annual Burden Hours: 6,070.
    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

[[Page 81242]]

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: November 8, 2016.
Tuawana Pinkston,
IRS Reports Clearance Officer.
[FR Doc. 2016-27586 Filed 11-16-16; 8:45 am]
BILLING CODE 4830-01-P

Federal Register / Vol. 81, No. 222 / Thursday, November 17, 2016 / Notices 81241 opportunity to comment on proposed as their contents may become material FOR FURTHER INFORMATION CONTACT: and/or continuing information in the administration of any internal Requests for additional information or collections, as required by the revenue law. Generally, tax returns and copies of the regulations should be Paperwork Reduction Act of 1995, tax return information are confidential, directed to Kerry Dennis at Internal Public Law 104–13 (44 U.S.C. as required by 26 U.S.C. 6103. Revenue Service, Room 6526, 1111 3506(c)(2)(A)). Currently, the IRS is Request for Comments: Comments Constitution Avenue NW., Washington, soliciting comments concerning Form submitted in response to this notice will DC 20224, or through the Internet at 8821, Tax Information Authorization be summarized and/or included in the Kerry.Dennis@irs.gov. and Form 8821–A, IRS Disclosure request for OMB approval. All SUPPLEMENTARY INFORMATION: Authorization for Victims of Identity comments will become a matter of Title: Requirements to Ensure Theft. public record. Comments are invited on: Collection of Section 2056A Estate Tax. (a) Whether the collection of OMB Number: 1545–1443. DATES: Written comments should be information is necessary for the proper Regulation Project Number: TD 8686. received on or before January 17, 2017 performance of the functions of the Abstract: This regulation provides to be assured of consideration. agency, including whether the ADDRESSES: Direct all written comments guidance relating to the additional information shall have practical utility; requirements necessary to ensure the to Tuawana Pinkston, Internal Revenue (b) the accuracy of the agency’s estimate Service, Room 6526, 1111 Constitution collection of the estate tax imposed of the burden of the collection of under Internal Revenue Code section Avenue NW., Washington, DC 20224. information; (c) ways to enhance the 2056A(b) with respect to taxable events FOR FURTHER INFORMATION CONTACT: quality, utility, and clarity of the involving qualified domestic trusts Requests for additional information or information to be collected; (d) ways to (QDOT’S). In order to ensure collection copies of the form and instructions minimize the burden of the collection of of the tax, the regulation provides should be directed to Kerry Dennis at information on respondents, including various security options that may be Internal Revenue Service, Room 6526, through the use of automated collection selected by the trust and the 1111 Constitution Avenue NW., techniques or other forms of information requirements associated with each Washington, DC 20224, or through the technology; and (e) estimates of capital option. In addition, under certain Internet at Kerry.Dennis@irs.gov. or start-up costs and costs of operation, circumstances the trust is required to SUPPLEMENTARY INFORMATION: maintenance, and purchase of services file an annual statement with the IRS Title: Tax Information Authorization to provide information. disclosing the assets held by the trust. and IRS Disclosure Authorization for Approved: November 8, 2016. Current Actions: There is no change to Victims of Identity Theft. Tuawana Pinkston, this existing regulation. OMB Number: 1545–1165. IRS Reports Clearance Officer. Type of Review: Extension of a Form Number: 8821 and 8821–A. Abstract: Form 8821 is used to [FR Doc. 2016–27609 Filed 11–16–16; 8:45 am] currently approved collection. appoint someone to receive or inspect BILLING CODE 4830–01–P Affected Public: Individuals or certain tax information. The information households. on the form is used to identify Estimated Number of Respondents: DEPARTMENT OF THE TREASURY 4,390. appointees and to ensure that confidential tax information is not Estimated Time per Respondent: 1 Internal Revenue Service hour, 23 minutes. divulged to unauthorized persons. Form 8821–A is an authorization signed by a Estimated Total Annual Burden Proposed Collection; Comment taxpayer for the IRS to disclose returns Hours: 6,070. Request for Regulation Project and return information to local law The following paragraph applies to all enforcement in the event of a possible AGENCY: Internal Revenue Service (IRS), of the collections of information covered identity theft. Treasury. by this notice: Current Actions: There are no changes ACTION: Notice and request for An agency may not conduct or being made to the forms at this time. comments. sponsor, and a person is not required to Type of Review: Extension of a respond to, a collection of information SUMMARY: The Department of the unless the collection of information currently approved collection. Treasury, as part of its continuing effort displays a valid OMB control number. Affected Public: Individuals or to reduce paperwork and respondent Books or records relating to a collection households, business or other for-profit burden, invites the general public and of information must be retained as long organizations, not for profit institutions, other Federal agencies to take this as their contents may become material and farms. Estimated Number of Respondents: opportunity to comment on proposed in the administration of any internal 183,333. and/or continuing information revenue law. Generally, tax returns and Estimated Time per Respondent: 48 collections, as required by the tax return information are confidential, minutes. Paperwork Reduction Act of 1995, as required by 26 U.S.C. 6103. Estimated Total Annual Burden Public Law 104–13 (44 U.S.C. Request for Comments: Comments Hours: 147,800. 3506(c)(2)(A)). Currently, the IRS is submitted in response to this notice will The following paragraph applies to all soliciting comments concerning, be summarized and/or included in the of the collections of information covered Requirements to Ensure Collection of request for OMB approval. All asabaliauskas on DSK3SPTVN1PROD with NOTICES by this notice: Section 2056A Estate Tax. comments will become a matter of An agency may not conduct or DATES: Written comments should be public record. Comments are invited on: sponsor, and a person is not required to received on or before January 17, 2017 (a) Whether the collection of respond to, a collection of information to be assured of consideration. information is necessary for the proper unless the collection of information ADDRESSES: Direct all written comments performance of the functions of the displays a valid OMB control number. to Tuawana Pinkston, Internal Revenue agency, including whether the Books or records relating to a collection Service, Room 6526, 1111 Constitution information shall have practical utility; of information must be retained as long Avenue NW., Washington, DC 20224. (b) the accuracy of the agency’s estimate VerDate Sep<11>2014 21:24 Nov 16, 2016 Jkt 241001 PO 00000 Frm 00189 Fmt 4703 Sfmt 4703 E:\FR\FM\17NON1.SGM 17NON1

81242 Federal Register / Vol. 81, No. 222 / Thursday, November 17, 2016 / Notices of the burden of the collection of and taxed (for income tax purposes) as DEPARTMENT OF THE TREASURY information; (c) ways to enhance the part of its related estate during the quality, utility, and clarity of the election period. Internal Revenue Service information to be collected; (d) ways to Current Actions: There are no changes minimize the burden of the collection of Proposed Collection; Comment being made to the form at this time. Request for Regulation Project information on respondents, including through the use of automated collection Type of Review: Extension of a AGENCY: Internal Revenue Service (IRS), techniques or other forms of information currently approved collection. Treasury. technology; and (e) estimates of capital Affected Public: Business or other for- ACTION: Notice and request for or start-up costs and costs of operation, profit organizations. comments. maintenance, and purchase of services Estimated Number of Respondents: to provide information. SUMMARY: The Department of the 5,000. Approved: November 8, 2016. Treasury, as part of its continuing effort Estimated Time per Respondent: 5 to reduce paperwork and respondent Tuawana Pinkston, hours, 38 minutes. burden, invites the general public and IRS Reports Clearance Officer. [FR Doc. 2016–27586 Filed 11–16–16; 8:45 am] Estimated Total Annual Burden other Federal agencies to take this Hours: 28,200. opportunity to comment on proposed BILLING CODE 4830–01–P The following paragraph applies to all and/or continuing information of the collections of information covered collections, as required by the DEPARTMENT OF THE TREASURY by this notice: Paperwork Reduction Act of 1995, Public Law 104–13 (44 U.S.C. Internal Revenue Service An agency may not conduct or 3506(c)(2)(A)). Currently, the IRS is sponsor, and a person is not required to soliciting comments concerning Proposed Collection; Comment respond to, a collection of information Arbitrage Restrictions on Tax-Exempt Request for Form 8855 unless the collection of information Bonds. displays a valid OMB control number. AGENCY: Internal Revenue Service (IRS), DATES: Written comments should be Books or records relating to a collection received on or before January 17, 2017 Treasury. of information must be retained as long to be assured of consideration. ACTION: Notice and request for as their contents may become material comments. ADDRESSES: Direct all written comments in the administration of any internal to Tuawana Pinkston, Internal Revenue SUMMARY: The Department of the revenue law. Generally, tax returns and Service, Room 6526, 1111 Constitution Treasury, as part of its continuing effort tax return information are confidential, Avenue NW., Washington, DC 20224. to reduce paperwork and respondent as required by 26 U.S.C. 6103. FOR FURTHER INFORMATION CONTACT: burden, invites the general public and Request for Comments: Comments Requests for additional information or other Federal agencies to take this submitted in response to this notice will copies of regulations should be directed opportunity to comment on proposed be summarized and/or included in the to Sara Covington at Internal Revenue and/or continuing information request for OMB approval. All Service, Room 6526, 1111 Constitution collections, as required by the comments will become a matter of Avenue NW., Washington, DC 20224, or Paperwork Reduction Act of 1995, public record. Comments are invited on: through the Internet, at Public Law 104–13 (44 U.S.C. (a) Whether the collection of Sara.L.Covington@irs.gov. 3506(c)(2)(A)). Currently, the IRS is information is necessary for the proper soliciting comments concerning Form SUPPLEMENTARY INFORMATION: performance of the functions of the Title: Arbitrage Restrictions and Issue 8855, Election To Treat a Qualified agency, including whether the Price Definition for Tax-Exempt Bonds. Revocable Trust as Party of an Estate. information shall have practical utility; OMB Number: 1545–1347. DATES: Written comments should be (b) the accuracy of the agency’s estimate Regulation: TD 8476, TD 8718, TD received on or before January 17, 2017 of the burden of the collection of 9777 and REG–138526–14 (NPRM). to be assured of consideration. information; (c) ways to enhance the Abstract: Section 148 of the Internal ADDRESSES: Direct all written comments Revenue Code requires issuers of tax- quality, utility, and clarity of the to Tuawana Pinkston, Internal Revenue information to be collected; (d) ways to exempt bonds to rebate certain arbitrage Service, Room 6526, 1111 Constitution profits earned on nonpurpose minimize the burden of the collection of Avenue NW., Washington, DC 20224. investments acquired with the bond information on respondents, including FOR FURTHER INFORMATION CONTACT: through the use of automated collection proceeds. Requests for additional information or techniques or other forms of information Under section 148(f), interest on a copies of the form and instructions technology; and (e) estimates of capital state or local bond is not tax exempt should be directed to Kerry Dennis at unless the issuer of the bond rebates to or start-up costs and costs of operation, Internal Revenue Service, Room 6526, the United States arbitrage profits maintenance, and purchase of services 1111 Constitution Avenue NW., earned from investing proceeds of the Washington, DC 20224, or through the to provide information. bond in higher yielding nonpurpose Internet at Kerry.Dennis@irs.gov. Approved: November 8, 2016. investments. Form 8038–T is used to asabaliauskas on DSK3SPTVN1PROD with NOTICES SUPPLEMENTARY INFORMATION: Tuawana Pinkston, pay the arbitrage rebate to the United Title: Election To Treat a Qualified IRS Reports Clearance Officer. States and to pay penalty in lieu of Revocable Trust as Party of an Estate. [FR Doc. 2016–27607 Filed 11–16–16; 8:45 am] rebates. Burden for the form is being OMB Number: 1545–1881. reported under 1545–1219. BILLING CODE 4830–01–P Form Number: 8855. Issuers are also required to keep Abstract: Form 8855 is used to make records of certain interest rate hedges so a section 645 election that allows a that the hedges are taken into account qualified revocable trust to be treated in determining arbitrage profits. Under VerDate Sep<11>2014 21:24 Nov 16, 2016 Jkt 241001 PO 00000 Frm 00190 Fmt 4703 Sfmt 4703 E:\FR\FM\17NON1.SGM 17NON1


Document Created: 2016-11-17 03:00:14
Document Modified: 2016-11-17 03:00:14
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 January 17, 2017 to be assured of consideration.
ContactRequests for additional information or copies of the regulations should be directed to Kerry Dennis at Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW., Washington, DC 20224, or through the Internet at [email protected]
FR Citation81 FR 81241 
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