81 FR 86380 - Submission for OMB Review; Comment Request

DEPARTMENT OF THE TREASURY

Federal Register Volume 81, Issue 230 (November 30, 2016)

[Federal Register Volume 81, Number 230 (Wednesday, November 30, 2016)]
[Notices]
[Page 86380]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-28813]


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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

November 25, 2016.
    The Department of the Treasury will submit the following 
information collection requests to the Office of Management and Budget 
(OMB) for review and clearance in accordance with the Paperwork 
Reduction Act of 1995, Public Law 104-13, on or after the date of 
publication of this notice.

DATES: Comments should be received on or before December 30, 2016 to be 
assured of consideration.

ADDRESSES: Send comments regarding the burden estimates, or any other 
aspect of the information collections, including suggestions for 
reducing the burden, to (1) Office of Information and Regulatory 
Affairs, Office of Management and Budget, Attention: Desk Officer for 
Treasury, New Executive Office Building, Room 10235, Washington, DC 
20503, or email at [email protected] and (2) Treasury PRA 
Clearance Officer, 1750 Pennsylvania Ave. NW., Suite 8142, Washington, 
DC 20220, or email at [email protected].

FOR FURTHER INFORMATION CONTACT: Copies of the submissions may be 
obtained by emailing [email protected], calling (202) 622-0934, or 
viewing the entire information collection request at www.reginfo.gov.

Internal Revenue Service (IRS)

    OMB Control Number: 1545-1487.
    Type of Review: Reinstatement without change of a previously 
approved collection.
    Title: Failure To File Gain Recognition Agreements or Satisfy Other 
Reporting Obligations.
    Abstract: Sections 367(e)(1) and 367(e)(2) provide for gain 
recognition on certain transfers to foreign persons under sections 355 
and 332. Section 6038B(a) requires U.S. persons transferring property 
to foreign persons in exchanges described in sections 332 and 355 to 
furnish information regarding such transfers.
    Affected Public: Businesses or other for-profits.
    Estimated Total Annual Burden Hours: 2,471.

    OMB Control Number: 1545-1675.
    Type of Review: Reinstatement with change of a previously approved 
collection.
    Title: Treatment of taxable income of a residual interest holder in 
excess of daily accruals.
    Abstract: Sections 1.860E-1(c)(4)-(10) of the Treasury Regulations 
provide circumstances under which a transferor of a noneconomic 
residual interest in a Real Estate Mortgage Investment Conduit (REMIC) 
meeting the investigation, and two representation requirements may 
avail itself of the safe harbor by satisfying either the formula test 
or asset test.
    Affected Public: Businesses or other for-profits.
    Estimated Total Annual Burden Hours: 470.

    OMB Control Number: 1545-1856.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Consent To Disclosure of Return Information.
    Form: 13362.
    Abstract: The Consent Form is provided to external applicant that 
will allow the Service the ability to conduct tax checks to determine 
if an applicant is suitability for employment once they are determined 
qualified and within reach to receive an employment offer. Form 13362 
can be sent and received electronically.
    Affected Public: Individuals or Households.
    Estimated Total Annual Burden Hours: 7,664.

    OMB Control Number: 1545-2219.
    Type of Review: Reinstatement with change of a previously approved 
collection.
    Title: Form 14242--Reporting Abusive Tax Promotions or Preparer's, 
& Form 14242 (SP)--Informe las Presuntas Promociones de Planes.
    Forms: 14242, 14242 (SP).
    Abstract: Form 14242 and Form 14242 (SP) are both used to report an 
abusive tax avoidance scheme and tax return preparer's who promote such 
schemes (Form 14242 (SP) is the Spanish translation of Form 14242). The 
information is collected to combat abusive tax promoters. Respondents 
can be individuals, businesses and tax return preparer's.
    Affected Public: Individuals or Households.
    Estimated Total Annual Burden Hours: 77.

Bob Faber,
Acting Treasury PRA Clearance Officer.
[FR Doc. 2016-28813 Filed 11-29-16; 8:45 am]
 BILLING CODE 4830-01-P