82 FR 10852 - Proposed Information Collection; Comment Request

DEPARTMENT OF THE TREASURY
Internal Revenue Service

Federal Register Volume 82, Issue 30 (February 15, 2017)

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.

[Federal Register Volume 82, Number 30 (Wednesday, February 15, 2017)]
[Notices]
[Pages 10852-10854]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-02985]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Information Collection; Comment Request

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

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[[Page 10853]]

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.

DATES: Written comments should be received on or before April 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, or at [email protected].
    Please send separate comments for each specific information 
collection listed below. You must reference the information 
collection's title, form number, reporting or record-keeping 
requirement number, and OMB number (if any) in your comment.

FOR FURTHER INFORMATION CONTACT:  To obtain additional information, or 
copies of the information collection and instructions, or copies of any 
comments received, contact Elaine Christophe, at Internal Revenue 
Service, Room 6526, 1111 Constitution Avenue NW., Washington, DC 20224, 
or through the Internet, at [email protected].

SUPPLEMENTARY INFORMATION: 

Request for Comments

    The Department of the Treasury and the Internal Revenue Service, as 
part of their continuing effort to reduce paperwork and respondent 
burden, invite the general public and other Federal agencies to take 
this opportunity to comment on the proposed or continuing information 
collections listed below in this notice, as required by the Paperwork 
Reduction Act of 1995, (44 U.S.C. 3501 et seq.).
    Request for Comments: Comments submitted in response to this notice 
will be summarized and/or included in our request for Office of 
Management and Budget (OMB) approval of the relevant information 
collection. All comments will become a matter of public record. Please 
do not include any confidential or inappropriate material in your 
comments.
    We invite comments on: (a) Whether the collection of information is 
necessary for the proper performance of the agency's functions, 
including whether the information has 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 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 the 
requested information.
    Currently, the IRS is seeking comments concerning the following 
forms, and reporting and record-keeping requirements:
    1. Title: Constructive Transfers and Transfers of Property to a 
Third-Party on Behalf of a Spouse (Sec.  1.1041-2).
    OMB Number: 1545-1751.
    Regulation: TD 9035.
    Abstract: Constructive transfers and transfers of property to a 
third-party on behalf of a spouse. The regulation sets forth the 
required information that will permit spouses or former spouses to 
treat a redemption by a corporation of stock of one spouse or former 
spouse as a transfer of that stock to the other spouse or former spouse 
in exchange for the redemption proceeds and a redemption of the stock 
from the latter spouse or a former spouse in exchange for the 
redemption proceeds.
    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, and businesses and 
other for-profit organizations.
    Estimated Number of Respondents: 1000.
    Estimated Time per Respondent: 30 minutes.
    Estimated Total Annual Burden Hours: 500.

    2. Title: Rotable Spare Parts Safe Harbor Method.
    OMB Number: 1545-2070.
    Revenue Procedure Number: Rev. Proc. 2007-48.
    Abstract: The information for which the agency is requesting to 
collect will support a taxpayer's claim for eligibility to use the safe 
harbor method of accounting for rotable spare parts provided in the 
proposed revenue procedures. The information will be submitted as a 
supporting schedule for the Form 3115, Application for Change in 
Accounting Method.
    Current Actions: There are no changes being made to the revenue 
procedures at this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents: 300.
    Estimated Time per Respondent: 15 minutes.
    Estimated Total Annual Burden Hours: 75.

    3. Title: Valuation Tables.
    OMB Number: 1545-1343.
    Regulation: TD 9540.
    Abstract: This document contains final regulations relating to the 
use of actuarial tables in valuing annuities, interests for life or 
terms of years, and remainder or reversionary interests. These 
regulations will affect the valuation of inter vivos and testamentary 
transfers of interests dependent on one or more measuring lives. These 
regulations are necessary because section 7520(c)(3) directs the 
Secretary to update the actuarial tables to reflect the most recent 
mortality experience available.
    Current Actions: There is no change to this existing regulation.
    Type of Review: Extension of OMB approval.
    Affected Public: Individuals or households.
    Estimated Number of Respondents: 6,000.
    Estimated Time per Respondent: 45 minutes.
    Estimated Total Annual Hours: 4,500.

    4. Title: Communications Excise Tax; Prepaid Telephone Cards.
    OMB Number: 1545-1628.
    Regulation: Treasury Decision 8855 (REG-118620-97.)
    Abstract: Carriers must keep certain information documenting their 
sales of prepaid telephone cards to other carriers to avoid 
responsibility for collecting tax. The regulations provide rules for 
the application of the communications excise tax to prepaid telephone 
cards.
    Current Actions: There are no changes being made to this existing 
regulation.
    Type of Review: Extension of currently approved collection.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents: 104.
    Estimated Time per Respondent: 20 min.
    Estimated Total Annual Burden Hours: 34.

    5. Title: Relief From Ruling Process For Making Late Reverse QTIP 
Election.
    OMB Number: 1545-1898.
    Regulation: Revenue Procedure 2004-47.
    Abstract: Revenue Procedure 2004-47 provides alternative relief for 
taxpayers who failed to make a reverse QTIP election on an estate tax 
return. Instead of requesting a private letter ruling and paying the 
accompanying user fee the taxpayer may file certain documents with the 
Cincinnati Service Center directly to request relief.

[[Page 10854]]

    Current Actions: There are no changes being made to the revenue 
procedure at this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals or households.
    Estimated Number of Respondents: 6.
    Estimated Annual Average Time per Respondent: 9 hours.
    Estimated Total Annual Hours: 54.

    6. Title: Interim Final Rules for Group Health Plans and Health 
Insurance Coverage Relating to Status as a Grandfathered Health Plan 
under the Patient Protection and Affordable Care Act.
    OMB Number: 1545-2178.
    Regulation: REG-118412-10.
    Abstract: This document contains interim final regulations 
implementing the rules for group health plans and health insurance 
coverage in the group and individual markets under provisions of the 
Patient Protection and Affordable Care Act regarding status as a 
grandfathered health plan.
    Current Actions: There is no change to this existing regulation.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents: 1,273,274.
    Estimated Total Annual Burden: 2,063 Hours.

    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.

    Approved: February 3, 2017.
Tuawana Pinkston,
IRS Supervisory Tax Analyst.
[FR Doc. 2017-02985 Filed 2-14-17; 8:45 am]
 BILLING CODE 4830-01-P