81 FR 95309 - Submission for OMB Review; Comment Request

DEPARTMENT OF THE TREASURY

Federal Register Volume 81, Issue 248 (December 27, 2016)

[Federal Register Volume 81, Number 248 (Tuesday, December 27, 2016)]
[Notices]
[Pages 95309-95310]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-31212]


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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

December 21, 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 January 26, 2017 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: 1545-0242.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Gas Guzzler Tax.
    Forms: 6197.
    Abstract: Form 6197 is used to compute the gas guzzler tax on 
automobiles whose fuel economy does not meet certain standard for fuel 
economy. The tax is reported quarterly on Form 720. Form 6197 is filed 
each quarter with Form 720 for manufacturers. Individuals can make a 
one-time filing if they import a gas guzzler auto for personal use. The 
IRS uses the information to verify computation of the tax and 
compliance with the law.
    Affected Public: Businesses or other for-profits.
    Estimated Total Annual Burden Hours: 4659.

    OMB Control Number: 1545-1013.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Return of Excise Tax on Undistributed Income of Real Estate 
Investment Trusts.
    Abstract: Form 8612 is used by real estate investment trusts to 
compute and pay the excise tax on undistributed income imposed under 
section 4981. IRS uses the information to verify that the correct 
amount of tax has been reported.
    Form: 8612.
    Affected Public: Businesses or other for-profits.
    Estimated Total Annual Burden Hours: 196.

    OMB Control Number: 1545-1068.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: T.D. 8618--Definition of a Controlled Foreign Corporation, 
Foreign Base Company Income, and Foreign Personal Holding Company 
Income of a Controlled Foreign Corporation (INTL-362-88).
    Abstract: The election and recordkeeping requirements are necessary 
to exclude certain high-taxed or active business income from subpart F 
income or to include certain income in the appropriate category of 
subpart F income. The recordkeeping and election procedures allow the 
U.S. shareholders and the IRS to know the amount of the controlled 
foreign corporation's subpart F income.
    Affected Public: Businesses or other for-profits.
    Estimated Total Annual Burden Hours: 50,417.

    OMB Control Number: 1545-1709.
    Type of Review: Revision of a currently approved collection.
    Title: Application for Automatic Extension of Time to File an 
Exempt Organization Return (Form-8868).
    Form: 8868.
    Abstract: 26 U.S.C. 6081 of the Internal Revenue Code grants a 
reasonable extension of time for filing any return. This form is used 
by fiduciaries and certain exempt organizations, to request an 
extension of time to file their returns. The information is used to 
determine whether the extension should be granted.
    Affected Public: Not-for-profit institutions.
    Estimated Total Annual Burden Hours: 1,048,290.

    OMB Control Number: 1545-1729.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: TD 9114 (Final) Electronic Payee Statements.
    Abstract: In general, under these regulations, a person required to 
furnish a statement on Form W-2 under Code sections 6041(d) or 6051, or 
Forms 1098-T or 1098-E under Code section 6050S, may furnish these 
statements electronically if the recipient consents to receive them 
electronically, and if the person furnishing the statement (1) makes 
certain disclosures to the recipient, (2) annually notifies the 
recipient that the statement is available on a Web site, and (3) 
provides access to the statement on that Web site for a prescribed 
period of time.
    Affected Public: Businesses or other for-profits.
    Estimated Total Annual Burden Hours: 2,844,950.

    OMB Control Number: 1545-1733.
    Type of Review: Revision of a currently approved collection.
    Title: Form 720-CS, Carrier Summary Report, Form 720-TO, Terminal 
Operator Report, and Form 8809-EX, Request for Extension of Time to 
File an ExSTARS Information Return.
    Form: 720-CS, 720-TO, 8809-EX
    Abstract: Representatives of the motor fuel industry, state 
governments, and the Federal government are working to ensure 
compliance with excise taxes on motor fuels. This joint effort has 
resulted in a system to track the movement of all products to and from 
terminals. Form 720-CS is an information return that will be used by 
carriers to report their monthly deliveries and receipts of products to 
and from terminals. Form 720-TO is completed by bulk transport carriers 
(barges, vessels, and pipeline) who deliver fuel product to the 
terminals. Form 8809-EX is used to request a 30-day extension of time 
to file an Excise Summary terminal Activity Reporting System (ExSTARS) 
information report (Form 720CS, Carrier Summary Report or Form 720TO, 
Terminal operator Report).
    Affected Public: Businesses or other for-profits.
    Estimated Total Annual Burden Hours: 2,530,383.

    OMB Control Number: 1545-1908.
    Type of Review: Extension without change of a currently approved 
collection.

[[Page 95310]]

    Title: REG-121475-03 (TD 9495-Final) Qualified Zone Academy Bonds: 
Obligations of States and Political Subdivisions.
    Abstract: The regulations that provide guidance to state and local 
governments that issue qualified zone academy bonds and to banks, 
insurance companies, and other taxpayers that hold those bonds on the 
program requirements for qualified zone academy bonds. The final 
regulations implement the amendments to section 1397E and provide 
guidance on the maximum term, permissible use of proceeds, and remedial 
actions for qualified zone academy bonds.
    Affected Public: State, Local, and Tribal Governments.
    Estimated Total Annual Burden Hours: 3.

Bob Faber,
Acting Treasury PRA Clearance Officer.
[FR Doc. 2016-31212 Filed 12-23-16; 8:45 am]
 BILLING CODE 4830-01-P