82 FR 35579 - Proposed Collection; Comment Request for Form 1099-A

DEPARTMENT OF THE TREASURY
Internal Revenue Service

Federal Register Volume 82, Issue 145 (July 31, 2017)

Page Range		35579-35580
FR Document		2017-16009

The Internal Revenue Service, 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. The IRS is soliciting comments concerning Form 1099-A, Acquisition or Abandonment of Secured Property.

Federal Register, Volume 82 Issue 145 (Monday, July 31, 2017)

[Federal Register Volume 82, Number 145 (Monday, July 31, 2017)]
[Notices]
[Pages 35579-35580]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-16009]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Form 1099-A

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

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SUMMARY: The Internal Revenue Service, 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. The IRS is soliciting comments 
concerning Form 1099-A, Acquisition or Abandonment of Secured Property.

[[Page 35580]]


DATES: Written comments should be received on or before September 29, 
2017 to be assured of consideration.

ADDRESSES: Direct all written comments to L. Brimmer, Internal Revenue 
Service, Room 6526, 1111 Constitution Avenue NW., Washington, DC 20224. 
Requests for additional information or copies of the forms and 
instructions should be directed to Sara Covington, Internal Revenue 
Service, Room 6526, 1111 Constitution Avenue NW., Washington, DC 20224, 
or through the internet at [email protected].

SUPPLEMENTARY INFORMATION: 
    Title: Acquisition or Abandonment of Secured Property. OMB Number: 
1545-0877.
    Form Number: 1099-A.
    Abstract: Form 1099-A is used by persons who lend money in 
connection with a trade or business, and who acquire an interest in the 
property that is security for the loan or who have reason to know that 
the property has been abandoned, to report the acquisition or 
abandonment.
    Current Actions: There are no changes being made to the form 
approved under this collection. However, changes to the estimated 
number of filers (616,300 to 563,000), will result in a total burden 
decrease of 8528 (98608 minus 90808).
    Type of Review: Revision of a current OMB approval.
    Affected Public: Businesses or other for-profit organizations.
    Estimated Number of Responses: 563,000.
    Estimated Time per Response: 9 min.
    Estimated Total Annual Burden Hours: 90,808.
    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: July 24, 2017.
L. Brimmer,
Senior Tax Analyst.
[FR Doc. 2017-16009 Filed 7-28-17; 8:45 am]
 BILLING CODE P

Federal Register / Vol. 82, No. 145 / Monday, July 31, 2017 / Notices 35579

United States Tax Withholding and Form W–8IMY, Certificate of Foreign foreign status, to claim that the person
Reporting, and the EW–8 MOU Program. Intermediary, Foreign Flow-Through is the beneficial owner of the income for
DATES: Written comments should be Entity, or Certain U.S. Branches for which Form W–8EXP is given and, if
received on or before September 29, United States Tax Withholding and applicable, to claim a reduced rate of, or
2017 to be assured of consideration. Reporting. exemption from, withholding. Form W–
ADDRESSES: Direct all written comments OMB Number: 1545–1621. 8IMY is provided to a withholding agent
to L. Brimmer, Internal Revenue Form Number: W–8BEN, W–8BEN–E, or payer by a foreign intermediary,
Service, Room 6526, 1111 Constitution W–8ECI, W–8EXP, and W–8IMY. foreign partnership, and certain U.S.
Avenue NW., Washington, DC 20224. Abstract: Form W–8BEN is used for branches to make representations
Requests for additional information or certain types of income to establish that regarding the status of beneficial owners
copies of the form and instructions the person is a foreign person, is the or to transmit appropriate
should be directed to Martha R. Brinson, beneficial owner of the income for documentation to the withholding
Internal Revenue Service, Room 6526, which Form W–8BEN is being provided agent. Reg. § 1.1441–1(e)(4)(iv) provides
1111 Constitution Avenue NW., and, if applicable, to claim a reduced that a withholding agent may establish
Washington, DC 20224 or through the rate of, or exemption from, withholding a system for a beneficial owner to
Internet at Martha.R.Brinson@irs.gov. as a resident of a foreign country with electronically furnish a Form W–8 or an
SUPPLEMENTARY INFORMATION: which the United States has an income acceptable substitute Form W–8.
Title: Form W–8BEN, Certificate of tax treaty. Withholding agents with systems that
Foreign Status of Beneficial Owner for Form W–8ECI is used to establish that electronically collect Forms W–8 may
United States Tax Withholding and the person is a foreign person and the voluntarily choose to participate in the
Reporting (Individual), W–8BEN–E, beneficial owner of the income for IRS EW–8 MOU Program. The EW–8
Certificate of Status of Beneficial Owner which Form W–8ECI is being provided, MOU Program is a collaborative process
for United States Tax Withholding and and to claim that the income is between the withholding agents and
Reporting (Entities), Form W–8ECI, effectively connected with the conduct IRS.
Certificate of Foreign Person’s Claim of a trade or business within the United Current Actions: There are no changes
That Income Is Effectively Connected States. Form W–8EXP is used by a being made to the form at this time.
With the Conduct of a Trade or Business foreign government, international Type of Review: Extension of a
in the United States, Form W–8EXP, organization, foreign central bank of currently approved collection.
Certificate of Foreign Government or issue, foreign tax-exempt organization, Affected Public: Individuals, business
Other Foreign Organization for United or foreign private foundation. The form or other for-profit organizations, and
States Tax Withholding and Reporting, is used by such persons to establish not-for-profit institutions.

Time per
Number Total annual
respondent
respondents burden hours
(hrs.)

Form W–8BEN ............................................................................................................................. 2,900,000 7.18 20,822,000
Form W–8BEN–E ........................................................................................................................ 100,000 25.23 2,523,000
Form W–8ECI .............................................................................................................................. 180,000 9.13 1,643,400
Form W–8EXP ............................................................................................................................. 240 20.05 4,812
Form W–8IMY .............................................................................................................................. 400 25.23 10,092

Total ...................................................................................................................................... 3,180,641 ........................ 25,003,304

The following paragraph applies to all agency, including whether the DEPARTMENT OF THE TREASURY
of the collections of information covered information shall have practical utility;
by this notice: (b) the accuracy of the agency’s estimate Internal Revenue Service
An agency may not conduct or of the burden of the collection of
sponsor, and a person is not required to Proposed Collection; Comment
information; (c) ways to enhance the
respond to, a collection of information Request for Form 1099–A
quality, utility, and clarity of the
unless the collection of information information to be collected; (d) ways to AGENCY: Internal Revenue Service (IRS),
displays a valid OMB control number. minimize the burden of the collection of Treasury.
Books or records relating to a collection information on respondents, including
of information must be retained as long through the use of automated collection Notice and request for
ACTION:
as their contents may become material techniques or other forms of information comments.
in the administration of any internal technology; and (e) estimates of capital
revenue law. Generally, tax returns and or start-up costs and costs of operation, SUMMARY: The Internal Revenue Service,
tax return information are confidential, as part of its continuing effort to reduce
maintenance, and purchase of services
as required by 26 U.S.C. 6103. paperwork and respondent burden,
to provide information.
Request for Comments: Comments invites the general public and other
submitted in response to this notice will Approved: July 19, 2017. Federal agencies to take this
sradovich on DSKBCFCHB2PROD with NOTICES

be summarized and/or included in the L. Brimmer, opportunity to comment on proposed
request for OMB approval. All Senior Tax Analyst. and/or continuing information
comments will become a matter of [FR Doc. 2017–16010 Filed 7–28–17; 8:45 am] collections, as required by the
public record. Comments are invited on: Paperwork Reduction Act of 1995. The
BILLING CODE 4830–01–P
(a) Whether the collection of IRS is soliciting comments concerning
information is necessary for the proper Form 1099–A, Acquisition or
performance of the functions of the Abandonment of Secured Property.

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35580 Federal Register / Vol. 82, No. 145 / Monday, July 31, 2017 / Notices

DATES: Written comments should be (b) the accuracy of the agency’s estimate These regulations apply to corporations
received on or before September 29, of the burden of the collection of filing consolidated returns, both during
2017 to be assured of consideration. information; (c) ways to enhance the and after the period of affiliation, and
ADDRESSES: Direct all written comments quality, utility, and clarity of the also affect purchasers of the stock of
to L. Brimmer, Internal Revenue information to be collected; (d) ways to members of a consolidated group. The
Service, Room 6526, 1111 Constitution minimize the burden of the collection of information with respect to § 1.337(d)–
Avenue NW., Washington, DC 20224. information on respondents, including 2(c)(1) and (3) is necessary to ensure
Requests for additional information or through the use of automated collection that loss is not disallowed under
copies of the forms and instructions techniques or other forms of information § 1.337(d)–2(a) and basis is not reduced
should be directed to Sara Covington, technology; and (e) estimates of capital under § 1.337(d)–2(b) to the extent the
Internal Revenue Service, Room 6526, or start-up costs and costs of operation, taxpayer establishes that the loss or
1111 Constitution Avenue NW., maintenance, and purchase of services basis is not attributable to the
Washington, DC 20224, or through the to provide information. recognition of built-in gain on the
internet at Sara.L.Covington@irs.gov. Approved: July 24, 2017. disposition of an asset. The information
SUPPLEMENTARY INFORMATION:
with respect to § 1.1502–32(b)(4)(vii)(C)
L. Brimmer,
Title: Acquisition or Abandonment of is necessary to allow the taxpayer to
Senior Tax Analyst.
Secured Property. OMB Number: 1545– amend an election that would benefit
[FR Doc. 2017–16009 Filed 7–28–17; 8:45 am] the taxpayer, i.e., to amend its waiver
0877.
Form Number: 1099–A.
BILLING CODE P under § 1.1502–32(b)(4), so that it may
Abstract: Form 1099–A is used by use its acquired subsidiary’s losses.
Current Actions: There is no change to
persons who lend money in connection DEPARTMENT OF THE TREASURY this existing regulation.
with a trade or business, and who
Type of Review: Extension of a
acquire an interest in the property that Internal Revenue Service currently approved collection.
is security for the loan or who have Affected Public: Business or other for-
reason to know that the property has Proposed Collection; Comment
profit.
been abandoned, to report the Request for Regulation Project
Estimated Number of Respondents:
acquisition or abandonment. AGENCY: Internal Revenue Service (IRS), 3,850.
Current Actions: There are no changes Treasury. Estimated Time Per Respondent: 2
being made to the form approved under hours.
this collection. However, changes to the ACTION: Notice and request for
Estimated Total Annual Burden
estimated number of filers (616,300 to comments.
Hours: 7,700.
563,000), will result in a total burden SUMMARY: The Internal Revenue Service, The following paragraph applies to all
decrease of 8528 (98608 minus 90808). as part of its continuing effort to reduce of the collections of information covered
Type of Review: Revision of a current paperwork and respondent burden, by this notice.
OMB approval. invites the general public and other An agency may not conduct or
Affected Public: Businesses or other Federal agencies to take this sponsor, and a person is not required to
for-profit organizations. opportunity to comment on continuing respond to, a collection of information
Estimated Number of Responses: information collections, as required by unless the collection of information
563,000. the Paperwork Reduction Act of 1995. displays a valid OMB control number.
Estimated Time per Response: 9 min. The IRS is soliciting comments Books or records relating to a collection
Estimated Total Annual Burden concerning extensions of time to elect of information must be retained as long
Hours: 90,808. method for determining allowable loss. as their contents may become material
The following paragraph applies to all in the administration of any internal
DATES: Written comments should be
of the collections of information covered revenue law. Generally, tax returns and
by this notice: received on or before September 29,
tax return information are confidential,
An agency may not conduct or 2017 to be assured of consideration.
as required by 26 U.S.C. 6103.
sponsor, and a person is not required to ADDRESSES: Direct all written comments REQUEST FOR COMMENTS: Comments
respond to, a collection of information to L. Brimmer, Internal Revenue submitted in response to this notice will
unless the collection of information Service, Room 6529, 1111 Constitution be summarized and/or included in the
displays a valid OMB control number. Avenue NW., Washington, DC 20224. request for OMB approval. All
Books or records relating to a collection Requests for additional information or comments will become a matter of
of information must be retained as long copies of the regulations should be public record. Comments are invited on:
as their contents may become material directed to Kerry Dennis, Internal (a) Whether the collection of
in the administration of any internal Revenue Service, Room 6529, 1111 information is necessary for the proper
revenue law. Generally, tax returns and Constitution Avenue NW., Washington performance of the functions of the
tax return information are confidential, DC 20224, or through the internet, at agency, including whether the
as required by 26 U.S.C. 6103. Kerry.Dennis@irs.gov. information shall have practical utility;
Request for Comments: Comments SUPPLEMENTARY INFORMATION: (b) the accuracy of the agency’s estimate
submitted in response to this notice will Title: Extensions of Time to Elect of the burden of the collection of
be summarized and/or included in the Method for Determining Allowable information; (c) ways to enhance the
request for OMB approval. All Loss. quality, utility, and clarity of the
sradovich on DSKBCFCHB2PROD with NOTICES

comments will become a matter of OMB Number: 1545–1774. information to be collected; (d) ways to
public record. Comments are invited on: Regulation Project Number: T.D. 9187. minimize the burden of the collection of
(a) Whether the collection of Abstract: Regulations under sections information on respondents, including
information is necessary for the proper 337(d) and 1502 of the Internal Revenue through the use of automated collection
performance of the functions of the Code (Code) disallow certain losses techniques or other forms of information
agency, including whether the recognized on sales of subsidiary stock technology; and (e) estimates of capital
information shall have practical utility; by members of a consolidated group. or start-up costs and costs of operation,

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Document Created: 2017-07-29 00:21:02
Document Modified: 2017-07-29 00:21:02

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 September 29, 2017 to be assured of consideration.
FR Citation		82 FR 35579

82 FR 35579 - Proposed Collection; Comment Request for Form 1099-A

DEPARTMENT OF THE TREASURYInternal Revenue Service

Federal Register Volume 82, Issue 145 (July 31, 2017)

DEPARTMENT OF THE TREASURY
Internal Revenue Service