81 FR 9586 - Proposed Collection; Comment Request for Regulation Project

DEPARTMENT OF THE TREASURY
Internal Revenue Service

Federal Register Volume 81, Issue 37 (February 25, 2016)

Page Range		9586-9586
FR Document		2016-04021

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 Application of Separate Limitations to Dividends From Noncontrolled Section 902 Corporations.

Federal Register, Volume 81 Issue 37 (Thursday, February 25, 2016)

[Federal Register Volume 81, Number 37 (Thursday, February 25, 2016)]
[Notices]
[Page 9586]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-04021]


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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 
Application of Separate Limitations to Dividends From Noncontrolled 
Section 902 Corporations.

DATES: Written comments should be received on or before April 25, 2016 
to be assured of consideration.

ADDRESSES: Direct all written comments to Tuawana Pinkston, Internal 
Revenue Service, Room 6129, 1111 Constitution Avenue NW., Washington, 
DC 20224.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the regulation should be directed to Martha R. Brinson, 
Internal Revenue Service, Room 6129, 1111 Constitution Avenue NW., 
Washington, DC 20224, or through the Internet at 
[email protected].

SUPPLEMENTARY INFORMATION: 
    Title: Application of Separate Limitations to Dividends From 
Noncontrolled Section 902 Corporations.
    OMB Number: 1545-2014.
    Form Number: TD 9452.
    Abstract: The final regulations require a collection of information 
in order for a taxpayer to make certain tax elections. The American 
Jobs Creation Act of 2004 amended the foreign tax credit treatment of 
dividends from noncontrolled section 902 corporations effective for 
post-2002 tax years, and the Gulf Opportunity Zone Act of 2005 
permitted taxpayers to elect to defer the effective date of these 
amendments until post-2004 tax years (GOZA election). Treas. Reg. Sec.  
1.904-7(f)(9)(ii)(C) requires a taxpayer making the GOZA election to 
attach a statement to such effect to its next tax return for which the 
due date (with extensions) is more than 90 days after April 25, 2006. 
Treas. Reg. Sec.  1.964-1(c)(3) requires certain shareholders making 
tax elections (section 964 elections) on behalf of a controlled foreign 
corporation or noncontrolled section 902 corporation to sign a jointly 
executed consent (that is retained by one designated shareholder) and 
to attach a statement to their tax returns for the election year.
    Current Actions: There is no change in the paperwork burden 
previously approved by OMB.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals and Households, Businesses and other 
for-profit organizations.
    Estimated Number of Respondents: 50.
    Estimated Time per Respondent: 30 minutes.
    Estimated Total Annual Burden Hours: 25.
    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: February 18, 2016.
Tuawana Pinkston,
IRS Reports Clearance Officer.
[FR Doc. 2016-04021 Filed 2-24-16; 8:45 am]
BILLING CODE 4830-01-P

9586 Federal Register / Vol. 81, No. 37 / Thursday, February 25, 2016 / Notices

institution, or other entities. The DEPARTMENT OF THE TREASURY elections) on behalf of a controlled
Agencies, the Board, and the NCUA use foreign corporation or noncontrolled
the information to take further action on Internal Revenue Service section 902 corporation to sign a jointly
the complaint to the extent the executed consent (that is retained by
complaint relates to an issue within Proposed Collection; Comment one designated shareholder) and to
their jurisdiction. The Board and the Request for Regulation Project attach a statement to their tax returns for
NCUA are renewing their forms AGENCY: Internal Revenue Service (IRS), the election year.
separately. Treasury. Current Actions: There is no change
The OCC and FDIC estimate that the ACTION: Notice and request for in the paperwork burden previously
burden of this collection of information comments. approved by OMB.
is as follows: Type of Review: Extension of a
SUMMARY: The Department of the
OCC Treasury, as part of its continuing effort currently approved collection.
OMB Control Number: 1557–0314. to reduce paperwork and respondent Affected Public: Individuals and
Estimated Number of Respondents: burden, invites the general public and Households, Businesses and other for-
1,500. other Federal agencies to take this profit organizations.
Estimated Burden per Response: 0.5 opportunity to comment on proposed Estimated Number of Respondents:
hours. and/or continuing information 50.
collections, as required by the Estimated Time per Respondent: 30
Estimated Total Annual Burden: 750
Paperwork Reduction Act of 1995, minutes.
hours.
Public Law 104–13 (44 U.S.C.
FDIC 3506(c)(2)(A)). Currently, the IRS is Estimated Total Annual Burden
soliciting comments concerning Hours: 25.
OMB Control Number: 3064–0190.
Application of Separate Limitations to The following paragraph applies to all
Estimated Number of Respondents: Dividends From Noncontrolled Section of the collections of information covered
200. 902 Corporations. by this notice:
Estimated Burden per Response: 0.5 DATES: Written comments should be An agency may not conduct or
hours. received on or before April 25, 2016 to sponsor, and a person is not required to
Estimated Total Annual Burden: 100 be assured of consideration. respond to, a collection of information
hours. ADDRESSES: Direct all written comments unless the collection of information
The Agencies issued a notice to Tuawana Pinkston, Internal Revenue displays a valid OMB control number.
regarding the collection for 60 days of Service, Room 6129, 1111 Constitution Books or records relating to a collection
comment on December 4, 2015, 80 FR Avenue NW., Washington, DC 20224. of information must be retained as long
75896. No comments were received. as their contents may become material
FOR FURTHER INFORMATION CONTACT:
Comments continue to be invited on: in the administration of any internal
Requests for additional information or
(a) Whether the collection of copies of the regulation should be revenue law. Generally, tax returns and
information is necessary for the proper directed to Martha R. Brinson, Internal tax return information are confidential,
performance of the functions of the Revenue Service, Room 6129, 1111 as required by 26 U.S.C. 6103.
Agencies, including whether the Constitution Avenue NW., Washington, Request for Comments: Comments
information has practical utility; DC 20224, or through the Internet at submitted in response to this notice will
(b) The accuracy of the Agencies’ Martha.R.Brinson@irs.gov. be summarized and/or included in the
estimates of the burden of the collection SUPPLEMENTARY INFORMATION: request for OMB approval. All
of information; Title: Application of Separate comments will become a matter of
(c) Ways to enhance the quality, Limitations to Dividends From public record. Comments are invited on:
utility, and clarity of the information to Noncontrolled Section 902 (a) Whether the collection of
be collected; Corporations. information is necessary for the proper
(d) Ways to minimize the burden of OMB Number: 1545–2014. performance of the functions of the
the collection on respondents, including Form Number: TD 9452. agency, including whether the
through the use of automated collection Abstract: The final regulations require information shall have practical utility;
techniques or other forms of information a collection of information in order for (b) the accuracy of the agency’s estimate
technology; and a taxpayer to make certain tax elections. of the burden of the collection of
(e) Estimates of capital or start-up The American Jobs Creation Act of 2004 information; (c) ways to enhance the
costs and costs of operation, amended the foreign tax credit quality, utility, and clarity of the
maintenance, and purchase of services treatment of dividends from information to be collected; (d) ways to
to provide information. noncontrolled section 902 corporations minimize the burden of the collection of
effective for post-2002 tax years, and the information on respondents, including
Dated: February 17, 2016.
Gulf Opportunity Zone Act of 2005 through the use of automated collection
Mary Hoyle Gottlieb, permitted taxpayers to elect to defer the
Regulatory Specialist, Legislative and
techniques or other forms of information
effective date of these amendments until technology; and (e) estimates of capital
Regulatory Activities Division, Office of the post-2004 tax years (GOZA election).
Comptroller of the Currency. or start-up costs and costs of operation,
mstockstill on DSK4VPTVN1PROD with NOTICES

Treas. Reg. § 1.904–7(f)(9)(ii)(C) requires maintenance, and purchase of services
Dated at Washington, DC, this 19th day of a taxpayer making the GOZA election to
February 2016. to provide information.
attach a statement to such effect to its
Federal Deposit Insurance Corporation. next tax return for which the due date Approved: February 18, 2016.
Robert E. Feldman, (with extensions) is more than 90 days Tuawana Pinkston,
Executive Secretary. after April 25, 2006. Treas. Reg. § 1.964– IRS Reports Clearance Officer.
[FR Doc. 2016–03968 Filed 2–24–16; 8:45 am] 1(c)(3) requires certain shareholders [FR Doc. 2016–04021 Filed 2–24–16; 8:45 am]
BILLING CODE 4810–33–P; 6714–01–P making tax elections (section 964 BILLING CODE 4830–01–P

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Document Created: 2018-02-02 14:35:07
Document Modified: 2018-02-02 14:35:07

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 April 25, 2016 to be assured of consideration.
Contact		Requests for additional information or copies of the regulation should be directed to Martha R. Brinson, Internal Revenue Service, Room 6129, 1111 Constitution Avenue NW., Washington, DC 20224, or through the Internet at [email protected]
FR Citation		81 FR 9586

81 FR 9586 - Proposed Collection; Comment Request for Regulation Project

DEPARTMENT OF THE TREASURYInternal Revenue Service

Federal Register Volume 81, Issue 37 (February 25, 2016)

DEPARTMENT OF THE TREASURY
Internal Revenue Service