82 FR 19457 - Agency Information Collection Activities; Submission for OMB Review; Comment Request; Multiple Internal Revenue Service Information Collection Requests

DEPARTMENT OF THE TREASURY

Federal Register Volume 82, Issue 80 (April 27, 2017)

The Department of the Treasury will submit the following information collection request(s) to the Office of Management and Budget (OMB) for review and clearance in accordance with the Paperwork Reduction Act of 1995, on or after the date of publication of this notice. The public is invited to submit comments on the collection(s) listed below.

[Federal Register Volume 82, Number 80 (Thursday, April 27, 2017)]
[Notices]
[Pages 19457-19458]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-08547]


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DEPARTMENT OF THE TREASURY


Agency Information Collection Activities; Submission for OMB 
Review; Comment Request; Multiple Internal Revenue Service Information 
Collection Requests

AGENCY: Departmental Offices, U.S. Department of the Treasury.

ACTION: Notice.

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SUMMARY: The Department of the Treasury will submit the following 
information collection request(s) to the Office of Management and 
Budget (OMB) for review and clearance in accordance with the Paperwork 
Reduction Act of 1995, on or after the date of publication of this 
notice. The public is invited to submit comments on the collection(s) 
listed below.

DATES: Comments should be received on or before May 30, 2017 to be 
assured of consideration.

ADDRESSES: Send comments regarding the burden estimate, or any other 
aspect of the information collection, 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) 622-0489, or 
viewing the entire information collection request at www.reginfo.gov.

SUPPLEMENTARY INFORMATION: 

Internal Revenue Service (IRS)

    Title: REG-209020-86 Foreign Tax Credit: Notification of Foreign 
Tax Redeterminations.
    OMB Control Number: 1545-1056.
    Type of Review: Extension without change of a currently approved 
collection.
    Abstract: Section 905(c) requires that a taxpayer notify the 
Internal Revenue Service of a change in the taxpayer's foreign income 
tax liability that may affect its foreign tax credit. Regulation 
section 1.905-4T provides rules concerning the time, manner, and 
contents of such notification. Should the taxpayer fail to notify the 
IRS, penalties under section 6689 may be imposed. Respondents are U.S. 
taxpayers that claim a foreign tax credit under section 901, 902, or 
960.
    Form: None.
    Affected Public: Individuals or Households.
    Estimated Total Annual Burden Hours: 54,000.

    Title: REG-246256-96 (Final TD 8978) Excise Taxes on Excess Benefit 
Transactions.
    OMB Control Number: 1545-1623.
    Type of Review: Extension without change of a currently approved 
collection.
    Abstract: Section 4958 of the Internal Revenue Code imposes excise 
taxes on transactions between certain tax exempt organizations and 
persons in a position to exercise substantial influence over the 
affairs of the organization, where the transactions are at greater than 
fair market value. These regulations (26 CFR Section 53.4958 6(a)(2), 
53.4958 6(a)(3), 53.4958 6(d)(2), and 53.4958 6(d)(3)) will clarify 
certain definitions rules in section 4958.
    Form: None.
    Affected Public: Businesses or other for-profits.
    Estimated Total Annual Burden Hours: 910,083.

    Title: Rev. Proc. 2007-48 Rotable Spare Parts Safe Harbor Method.
    OMB Control Number: 1545-2070.
    Type of Review: Revision of a currently approved collection.
    Abstract: The information 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.

[[Page 19458]]

    Form: 3115.
    Affected Public: Businesses or other for-profits.
    Estimated Total Annual Burden Hours: 29,169.

    Authority:  44 U.S.C. 3501 et seq.

    Dated: April 24, 2017.
Spencer W. Clark,
Treasury PRA Clearance Officer.
[FR Doc. 2017-08547 Filed 4-26-17; 8:45 am]
 BILLING CODE 4830-01-P