82 FR 22387 - Agency Information Collection Activities; Submission for OMB Review; Comment Request; Multiple IRS Information Collection Requests

DEPARTMENT OF THE TREASURY

Federal Register Volume 82, Issue 92 (May 15, 2017)

Page Range		22387-22388
FR Document		2017-09761

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 Issue 92 (Monday, May 15, 2017)

[Federal Register Volume 82, Number 92 (Monday, May 15, 2017)]
[Notices]
[Pages 22387-22388]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-09761]


-----------------------------------------------------------------------

DEPARTMENT OF THE TREASURY


Agency Information Collection Activities; Submission for OMB 
Review; Comment Request; Multiple IRS Information Collection Requests

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

ACTION: Notice.

-----------------------------------------------------------------------

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 June 14, 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: TD 8586 (Final) Treatment of Gain From Disposition of 
Certain Natural Resource Recapture Property.
    OMB Control Number: 1545-1352.
    Type of Review: Extension without change of a currently approved 
collection.
    Abstract: This regulation prescribes rules for determining the tax 
treatment of gain from the disposition of natural resource recapture 
property in accordance with Internal Revenue Code section 1254. Gain is 
treated as ordinary income in an amount equal to the intangible 
drilling and development costs and depletion deductions taken with 
respect to the property. The information that taxpayers are required to 
retain will be used by the IRS to determine whether a taxpayer has 
properly characterized gain on the disposition of section 1254 
property.
    Form: TD 8586.
    Affected Public: Businesses or other for-profits.
    Estimated Total Annual Burden Hours: 2,000.
    Title: REG-209619-93 (Final--TD 9249) Escrow Funds and Other 
Similar Funds.
    OMB Control Number: 1545-1631.
    Type of Review: Extension without change of a currently approved 
collection.
    Abstract: Section 468B(g) requires that income earned on escrow 
accounts, settlement funds, and similar funds be subject to current 
taxation. This section authorizes the Secretary to issue regulations 
providing for the current

[[Page 22388]]

taxation of these accounts and funds as grantor trusts or otherwise. 
The regulations would amend the final regulations for qualified 
settlement funds (QFSs) and would provide new rules for qualified 
escrows and qualified trusts used in deferred section 1031 exchanges; 
pre-closing escrows; contingent at-closing escrows; and disputed 
ownership funds.
    Form: None.
    Affected Public: Businesses or other for-profits.
    Estimated Total Annual Burden Hours: 3,720.
    Title: Form 13094--Recommendation for Juvenile Employment with the 
Internal Revenue Service.
    OMB Control Number: 1545-1746.
    Type of Review: Extension without change of a currently approved 
collection.
    Abstract: The data collected on the form provides the Internal 
Revenue Service with a consistent method for making suitability 
determination on juveniles for employment within the Service. Form: 
13094.
    Affected Public: Individuals or Households.
    Estimated Total Annual Burden Hours: 208.
    Title: TD 9168--Optional 10-Year Write-off of Certain Tax 
Preferences (REG-124405-03).
    OMB Control Number: 1545-1903.
    Type of Review: Extension without change of a currently approved 
collection.
    Abstract: Internal Revenue Code Sec.  59(e) contains final 
regulations relating to the optional 10- year write off of certain tax 
preference items under section 59(e) of the Internal Revenue Code 
(Code). The final regulations affect taxpayers who utilize section 
59(e) for the optional 10-year write off of certain tax preferences. 
These final regulations provide guidance on the time and manner of 
making an election under section 59(e). The regulations also provide 
guidance on revoking an election under section 59(e). The regulations 
reflect changes to the law made by the Tax Reform Act of 1986, the 
Technical and Miscellaneous Revenue Act of 1988, and the Omnibus Budget 
Reconciliation Act of 1989.
    Form: None.
    Affected Public: Individuals or Households.
    Estimated Total Annual Burden Hours: 10,000.
    Title: TD 9289 (Final) Treatment of Disregarded Entities Under 
Section 752.
    OMB Control Number: 1545-1905.
    Type of Review: Extension without change of a currently approved 
collection.
    Abstract: Generally, the final regulations recognize that only the 
assets of a disregarded entity that limits its member's liability are 
available to satisfy creditors' claims under local law. The regulations 
provide rules under section 752 for taking into account the net value 
of a disregarded entity owned by a partner or related person for 
purposes of allocating, partnership liabilities.
    Form: None.
    Affected Public: Businesses or other for-profits.
    Estimated Total Annual Burden Hours: 3,000.

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

    Dated: May 10, 2017.
Jennifer P. Leonard,
Treasury PRA Clearance Officer.
[FR Doc. 2017-09761 Filed 5-12-17; 8:45 am]
 BILLING CODE 4830-01-P

Federal Register / Vol. 82, No. 92 / Monday, May 15, 2017 / Notices 22387

recapture of overall domestic losses that Estimated Time per Respondent: 5 public is invited to submit comments on
was enacted as part of the American hours. the collection(s) listed below.
Jobs Creation Act of 2004 (AJCA). In Estimated Total Annual Burden DATES: Comments should be received on
addition, the regulation provides Hours: 100,000. or before June 14, 2017 to be assured of
updated guidance with respect to 5. Title: Limited Payability Claim consideration.
overall foreign losses and separate Against the United States For Proceeds ADDRESSES: Send comments regarding
limitation losses, and affect individuals of An Internal Revenue Refund Check. the burden estimate, or any other aspect
and corporations claiming foreign tax OMB Number: 1545–2024.
of the information collection, including
credits, as updated. T.D. 9595 Form Number: Form-13818.
suggestions for reducing the burden, to
supersedes T.D. 9371 and T.D. 8833. Abstract: This form is used by
(1) Office of Information and Regulatory
Current Actions: There are no changes taxpayers for completing a claim against
Affairs, Office of Management and
to the existing regulation. the United States for the proceeds of an
Budget, Attention: Desk Officer for
Type of Review: Extension of a Internal Revenue refund check.
Current Actions: There is no change Treasury, New Executive Office
currently approved collection. Building, Room 10235, Washington, DC
Affected Public: Business or other for- in the paperwork burden previously
approved by OMB. This form is being 20503, or email at OIRA_Submission@
profit organizations. OMB.EOP.gov and (2) Treasury PRA
Estimated Number of Respondents: submitted for renewal purposes only.
Type of Review: Extension of a Clearance Officer, 1750 Pennsylvania
2,000.
currently approved collection. Ave. NW., Suite 8142, Washington, DC
Estimated Average Time per
Affected Public: Individuals or 20220, or email at PRA@treasury.gov.
Respondent: 1 hr., 30 min.
Estimated Total Annual Burden households, Businesses and other for- FOR FURTHER INFORMATION CONTACT:
Hours: 3,000. profit organizations. Copies of the submissions may be
3. Title: Biodiesel and Aviation-Grade Estimated Number of Respondents: obtained by emailing PRA@treasury.gov,
Kerosene. 4,000. calling (202) 622–0489, or viewing the
OMB Number: 1545–1915. Estimated Time per Respondent: 1 entire information collection request at
Notice Number: Notice 2005–4. hour. www.reginfo.gov.
Abstract: Notice 2005–04 provides Estimated Total Annual Burden SUPPLEMENTARY INFORMATION:
guidance on certain excise tax Code Hours: 4,000.
The following paragraph applies to all Internal Revenue Service (IRS)
provisions that were added or effected
by the American Jobs Creation Act of of the collections of information covered Title: TD 8586 (Final) Treatment of
2004. The information will be used by by this notice: Gain From Disposition of Certain
the IRS to verify that the proper amount An agency may not conduct or Natural Resource Recapture Property.
of tax is reported, excluded, refunded, sponsor, and a person is not required to OMB Control Number: 1545–1352.
or credited. This notice is modified and respond to, a collection of information Type of Review: Extension without
expanded by Notices 2005–24, 2005–62, unless the collection of information change of a currently approved
and 2005–80. displays a valid OMB control number. collection.
Current Actions: There are no changes Books or records relating to a collection Abstract: This regulation prescribes
being made to the notice at this time. of information must be retained as long rules for determining the tax treatment
Type of Review: Extension of a as their contents may become material of gain from the disposition of natural
currently approved collection. in the administration of any internal resource recapture property in
Affected Public: Business or other for- revenue law. Generally, tax returns and accordance with Internal Revenue Code
profit organizations, not-for-profit tax return information are confidential, section 1254. Gain is treated as ordinary
institutions, farms, Federal, state, local as required by 26 U.S.C. 6103. income in an amount equal to the
or tribal governments. Approved: May 8, 2017. intangible drilling and development
Estimated Number of Responses: costs and depletion deductions taken
Laurie Brimmer,
157,963. with respect to the property. The
Senior Tax Analyst.
Estimated Time per Respondent: .48 information that taxpayers are required
[FR Doc. 2017–09765 Filed 5–12–17; 8:45 am] to retain will be used by the IRS to
hours.
Estimated Total Annual Burden BILLING CODE 4830–01–P determine whether a taxpayer has
Hours: 76,190. properly characterized gain on the
4. Title: Demonstration Automobile disposition of section 1254 property.
Use. DEPARTMENT OF THE TREASURY Form: TD 8586.
OMB Number: 1545–1756. Agency Information Collection Affected Public: Businesses or other
Revenue Procedure Number: Revenue Activities; Submission for OMB for-profits.
Procedure 2001–56. Estimated Total Annual Burden
Review; Comment Request; Multiple
Abstract: Revenue Procedure 2001–56 Hours: 2,000.
IRS Information Collection Requests
provides optional simplified methods Title: REG–209619–93 (Final—TD
for determining the value of the use of AGENCY: Departmental Offices, U.S. 9249) Escrow Funds and Other Similar
demonstration automobiles provided to Department of the Treasury. Funds.
employees by automobile dealerships. ACTION: Notice. OMB Control Number: 1545–1631.
Current Actions: There are no changes Type of Review: Extension without
SUMMARY: The Department of the change of a currently approved
jstallworth on DSK7TPTVN1PROD with NOTICES

being made to this revenue procedure at
this time. Treasury will submit the following collection.
Type of Review: Extension of a information collection request(s) to the Abstract: Section 468B(g) requires
currently approved collection. Office of Management and Budget that income earned on escrow accounts,
Affected Public: Business or other for- (OMB) for review and clearance in settlement funds, and similar funds be
profit organizations. accordance with the Paperwork subject to current taxation. This section
Estimated Number of Respondents: Reduction Act of 1995, on or after the authorizes the Secretary to issue
20,000. date of publication of this notice. The regulations providing for the current

VerDate Sep<11>2014 13:51 May 12, 2017 Jkt 241001 PO 00000 Frm 00083 Fmt 4703 Sfmt 4703 E:\FR\FM\15MYN1.SGM 15MYN1

$22388 Federal Register / Vol. 82, No. 92 / Monday, May 15, 2017 / Notices taxation of these accounts and funds as Estimated Total Annual Burden Estimated Total Annual Burden grantor trusts or otherwise. The Hours: 208. Hours: 10,000. regulations would amend the final Title: TD 9168—Optional 10-Year Title: TD 9289 (Final) Treatment of regulations for qualified settlement Write-off of Certain Tax Preferences Disregarded Entities Under Section 752. funds (QFSs) and would provide new (REG–124405–03). OMB Control Number: 1545–1905. rules for qualified escrows and qualified OMB Control Number: 1545–1903. Type of Review: Extension without trusts used in deferred section 1031 Type of Review: Extension without change of a currently approved exchanges; pre-closing escrows; change of a currently approved collection. contingent at-closing escrows; and collection. Abstract: Generally, the final disputed ownership funds. Abstract: Internal Revenue Code regulations recognize that only the Form: None. § 59(e) contains final regulations assets of a disregarded entity that limits Affected Public: Businesses or other relating to the optional 10- year write off its member’s liability are available to for-profits. of certain tax preference items under satisfy creditors’ claims under local law. Estimated Total Annual Burden section 59(e) of the Internal Revenue The regulations provide rules under Hours: 3,720. Code (Code). The final regulations affect section 752 for taking into account the taxpayers who utilize section 59(e) for net value of a disregarded entity owned Title: Form 13094—Recommendation the optional 10-year write off of certain by a partner or related person for for Juvenile Employment with the tax preferences. These final regulations purposes of allocating, partnership Internal Revenue Service. provide guidance on the time and liabilities. OMB Control Number: 1545–1746. manner of making an election under Form: None. Type of Review: Extension without section 59(e). The regulations also Affected Public: Businesses or other change of a currently approved provide guidance on revoking an for-profits. collection. election under section 59(e). The Estimated Total Annual Burden Abstract: The data collected on the regulations reflect changes to the law Hours: 3,000. form provides the Internal Revenue made by the Tax Reform Act of 1986, Authority: 44 U.S.C. 3501 et seq. Service with a consistent method for the Technical and Miscellaneous making suitability determination on Revenue Act of 1988, and the Omnibus Dated: May 10, 2017. juveniles for employment within the Budget Reconciliation Act of 1989. Jennifer P. Leonard, Service. Form: 13094. Form: None. Treasury PRA Clearance Officer. Affected Public: Individuals or Affected Public: Individuals or [FR Doc. 2017–09761 Filed 5–12–17; 8:45 am] Households. Households. BILLING CODE 4830–01–P jstallworth on DSK7TPTVN1PROD with NOTICES VerDate Sep<11>2014 13:51 May 12, 2017 Jkt 241001 PO 00000 Frm 00084 Fmt 4703 Sfmt 9990 E:\FR\FM\15MYN1.SGM 15MYN1$

Document Created: 2017-05-13 02:38:34
Document Modified: 2017-05-13 02:38:34

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.
Dates		Comments should be received on or before June 14, 2017 to be assured of consideration.
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.
FR Citation		82 FR 22387