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)

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


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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.

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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 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