81 FR 81242 - Proposed Collection; Comment Request for Form 8855
DEPARTMENT OF THE TREASURY
Internal Revenue Service Federal Register Volume 81, Issue 222 (November 17, 2016)
Internal Revenue Service
Federal Register Volume 81, Issue 222 (November 17, 2016)
| Page Range | 81242-81242 | |
| FR Document | 2016-27607 |
[Federal Register Volume 81, Number 222 (Thursday, November 17, 2016)] [Notices] [Page 81242] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2016-27607] ----------------------------------------------------------------------- DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Form 8855 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 8855, Election To Treat a Qualified Revocable Trust as Party of an Estate. 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 form and instructions 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: Election To Treat a Qualified Revocable Trust as Party of an Estate. OMB Number: 1545-1881. Form Number: 8855. Abstract: Form 8855 is used to make a section 645 election that allows a qualified revocable trust to be treated and taxed (for income tax purposes) as part of its related estate during the election period. Current Actions: There are no changes being made to the form at this time. Type of Review: Extension of a currently approved collection. Affected Public: Business or other for-profit organizations. Estimated Number of Respondents: 5,000. Estimated Time per Respondent: 5 hours, 38 minutes. Estimated Total Annual Burden Hours: 28,200. 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: November 8, 2016. Tuawana Pinkston, IRS Reports Clearance Officer. [FR Doc. 2016-27607 Filed 11-16-16; 8:45 am] BILLING CODE 4830-01-P
![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
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Document Created: 2016-11-17 03:00:33
Document Modified: 2016-11-17 03:00:33
| 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 January 17, 2017 to be assured of consideration. | |
| Contact | Requests for additional information or copies of the form and instructions 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 Citation | 81 FR 81242 |
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