82 FR 41310 - Agency Information Collection Activities; Submission for OMB Review; Comment Request; Multiple IRS Information Collection Requests

DEPARTMENT OF THE TREASURY

Federal Register Volume 82, Issue 167 (August 30, 2017)

The Department of the Treasury will submit the following information collection requests 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 these requests.

[Federal Register Volume 82, Number 167 (Wednesday, August 30, 2017)]
[Notices]
[Pages 41310-41312]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-18364]


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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 requests 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 these requests.

[[Page 41311]]


DATES: Comments should be received on or before September 29, 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 from Jennifer Leonard 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: U.S. Business Income Tax Return.
    OMB Control Number: 1545-0123.
    Type of Review: Revision of a currently approved collection.
    Abstract: These forms are used by businesses to report their income 
tax liability. The data is used to verify that the items reported on 
the forms are correct, and also for general statistics use.
    Forms: 4255, 8844, 1065-B Schedule K-1, 1120-S Schedule K-1, 1120-
L, 8830, 8908, 1120-PC, 1120-REIT, 1120-S Schedule B-1, 5884, 1065-X, 
1065-X, 8845, 1120-S Schedule M-3, 1120-IC DISC Schedule P, 1120-F 
Schedule V, 1120-ND, 1120-PC, 56, 8848, 8900, 1120 Schedule O, 5471 
Schedule J Schedule M Schedule O, 1120-L Schedule M-3, 8858 Schedule M, 
8865 Schedule K-1 Schedule O Schedule P, 1065-B Schedule K-1, 1066, 
1118, 1118 Schedule i, 1118 Schedule J, 1118 Schedule K, 1120, 1120 
Schedule D, 1120 Schedule H, 1120 Schedule M-3, 1120 Schedule PH, 1120-
F Schedule H, 1120-F Schedule i, 1120-F Schedule M-1 and Schedule M-2, 
8938, 8941, 8941, 8947, 926, 926, 966, 970, 976, 982, SS-4 (PR), T 
(TIMBER), W-8 BEN, W-8 IMY, W-8 IMY, 1120-H, 5471 Schedule J, 5471 
Schedule M, 5471 Schedule O, 5472, 5713, 6478, 6627, 6781, 7004, 8023, 
7004, 8288-B, 8300, 8404, 8453-B, 8655, 8716, 8932, 8933, 8936, 8937, 
8937, 8938, 1120 Schedule B, 1120 Schedule N, 1120 Schedule O, 1120-C, 
1120 Schedule G, 5713, 5884-B, 8023, 8050, 8275, 8275-R, 8302, 8308, 
8329, 8621-A, 8697, W-8 BEN, 8804, 8804 8805 8813, 8804 Schedule A, 
8804 Schedule A, 8804-W, 8804-W, 8810, 8810, 8813, 8816, 8819, 8820, 
8822-B, 8824, 8824, 8825, 8826, 8827, 8832, 8833, 8835, 8835, 8842, 
8844, 8845, 8846, 8858, 8858, 8858 Schedule M, 8864, 8865, 8865, 8865 
Schedule K-1, 8865 Schedule O, 8865 Schedule P, 8866, 8869, 8872, 8873, 
8873, 8874, 8875, 8878-A, 8879-B, 8879-C, 8879-I, 8879-PE, 8879-S, 
8881, 8882, 8883, 8883, 8886, 8886, 8893, 8894, 973, SS-4, SS-4, SS-4 
(PR), T (TIMBER), 972, 1120-L Schedule M-3, 1120-POL, 1120-RIC, 5472, 
56, 56F, 5735, 6198, 6198, 6765, 8275, 8283, 8288, 8288, 8453-C, 8453-
PE, 8453-S, 8621, 8697, 8911, 8912, 8912, 8916, 8916-A, 8918, 8923, 
8918, 8925, 8926, 8926, 8927, 8931, 8902, 8902, 1120 Schedule UTP, 
1120-F, 1120-F Schedule S, 1120-IC DISC Schedule K, 1120-IC DISC 
Schedule Q, 1120-S, 1120-S Schedule D, 1120-S Schedule K-1, 1120-S 
Schedule M-3, 1120-SF, 1120-W, 1120-X, 4626, 4684, 4684, 4626, 4797, 
4797, 4810, 4876-A, 5452, 5471, 5471, 1122, 2438, 5713 Schedule A, 5713 
Schedule C, 5735, 5884, 8275-R, 8806, 8838, 1065 Schedule D, 1120-F 
Schedule M-3, 1120-F Schedule P, 1120-FSC, 8805, 8283, 8609, 8609, 
8609-A, 8609-A, 8611, 8621, 8621-A, 8693, 8703, 8903, 8903, 8906, 8907, 
8908, 8909, 8910, 8910, 8453-I, 8453-X, 851, 8586, 8594, 8752, 1000, 
1042, 1065, 1065 Schedule B-1, 1065 Schedule C, 1066 Schedule Q, 1125-
E, 1125-A, 1125-E, 1127, 1128, 1128, 1138, 1139, 1139, 2220, 2220, 
2553, 2553, 2848, 2848, 3115, 3115, 3468, 3468, 3520, 3520, 3800, 3800, 
4136, 4136, 4255, 4466, 8866, 4562, 4562, 8872, 8896, 8900, 1065 
Schedule K-1, 1065 Schedule M-3, 1065-B, 1065 Schedule M-3, 1120-ND, 
8949, W-8 BEN-E, 5713 Schedule B, 1120-PC Schedule M-3, 1042, 1120-S 
Schedule D, 1120-H, 1120-SF, 1120-F Schedule H, 1120-FSC, 1120-F 
Schedule M-3, 1120-F Schedule S, 1120-F Schedule V, 1120 Schedule D, 
1120-F Schedule M-3, 8949, W-8 ECI, 1120-L, 1120-IC DISC, 8936, 8864, 
W-8 ECI, 8871, 8871, 1065, 1065-B, 1065 Schedule K-1, 1065 Schedule C, 
1065 Schedule D, 1066, 1118, 1118 Schedule K, 1118 Schedule J, 1120, 
1120-C, 1120-F, 1120-F Schedule P, 1120-F Schedule I, W-8 BEN-E, 8911, 
8082, 8082, 1120-REIT, 6478, 1120-RIC, 1120-S, 6765, 1120-PC Schedule 
M-3, 1120-W, 8834, 8907, 1120 Schedule M-3, 1120 Schedule PH, 1120 
Schedule UTP, 1120-FSC Schedule P, 1120-IC DISC.
    Affected Public: Businesses or other for-profits, Farms.
    Estimated Total Annual Burden Hours: 3,040,000,000.

    Title: Investment Interest Expense Deduction.
    OMB Control Number: 1545-0191.
    Type of Review: Extension without change of a currently approved 
collection.
    Abstract: Internal Revenue Code section 163(d) provides a 
limitation on individuals, estates, or trusts that paid or accrued 
interest on investment indebtedness. Form 4952 is used to accumulate a 
taxpayer's interest from all sources and provides a line-by-line 
computation of the allowable deduction for investment interest.
    Form: 4952.
    Affected Public: Individuals or Households.
    Estimated Total Annual Burden Hours: 205,596.

    Title: Consolidated and Controlled Groups--Intercompany 
Transactions and Related Rules.
    OMB Control Number: 1545-1433.
    Type of Review: Extension without change of a currently approved 
collection.
    Abstract: The Treasury regulations require common parents that make 
elections under Section 1.1502-13 to provide certain information. 
Section 1.1502 13(f)(5)(ii) provides common parents with an election to 
avoid potential duplications of gain from certain intercompany 
distributions and other transactions with respect to stock of members. 
These elections are designed to provide taxpayers relief from the 
application of certain provisions of the regulations. These elections 
must be made by the due date for the consolidated returns (including 
extensions). The section 1.1502 13(f)(5)(ii) election is made by 
attaching a statement to the consolidated return. Section 1.1502-
13(f)(6)(i)(C) provides for an election to reduce basis in parent 
stock. The election must be made in a separate statement filed with the 
consolidated group's tax return. The information will be used to 
identify and assure that the amount, location, timing and attributes of 
intercompany transactions and corresponding items are properly 
maintained. Burden for the collection of information requirements under 
1.1502 13(e)(3) and 1.1502 13(c) are being reported under OMB number 
1545-0123.
    Form: None.
    Affected Public: Businesses or other for-profits.
    Estimated Total Annual Burden Hours: 1,050.

    Title: Revenue Procedure 2015-40, Procedures for Requesting 
Competent Authority Assistance Under Tax Treaties.

[[Page 41312]]

    OMB Control Number: 1545-2044.
    Type of Review: Extension without change of a currently approved 
collection.
    Abstract: This revenue procedure 2015-40 provides guidance on the 
process of requesting and obtaining assistance under U.S. tax treaties 
from the U.S. competent authority, acting through the Advance Pricing 
and Mutual Agreement Program and the Treaty Assistance and 
Interpretation Team of the Deputy Commissioner (International), Large 
Business & International Division of the Internal Revenue Service. This 
revenue procedure updates and supersedes Rev. Proc. 2006-54, 2006-2 
C.B. 1035, and is being issued concurrently with Rev. Proc. 2015-41, 
2015-35 I.R.B., which provides guidance with respect to advance pricing 
agreements.
    This revenue procedure also reflects modifications based on 
continuing internal monitoring of the administrative procedures of the 
U.S. competent authority to ensure that the administration of U.S. tax 
treaties is consistently principled, effective, and efficient.
    Form: None.
    Affected Public: Individuals or Households.
    Estimated Total Annual Burden Hours: 9,000.

    Title: Form W-14--Certificate of Foreign Contracting Party 
Receiving Federal Procurement Payments.
    OMB Control Number: 1545-2263.
    Type of Review: Extension without change of a currently approved 
collection.
    Abstract: Tax on Certain Foreign Procurement, Notice of Purposed 
Rulemaking, contains proposed regulations under section 5000C of the 
Internal Revenue Code. The proposed regulations affect U.S. government 
acquiring agencies and foreign persons providing certain goods or 
services to the U.S. government pursuant to a contract. This document 
also contains proposed regulations under section 6114, with respect to 
foreign persons claiming an exemption from the tax under an income tax 
treaty. Section 5000C imposes a 2% tax on foreign persons (as defined 
in section 7701(a)(30)), that are parties to specified Federal 
procurement contracts with the U.S. government entered into on and 
after January 2, 2011. This tax is imposed on the gross amount of 
specified Federal procurement payments and is generally collected by 
increasing the amount withheld under chapter 3. A Form W-14 must be 
provided to the acquiring agency (U.S. government department, agency, 
independent establishment, or corporation) to: Establish that they are 
a foreign contracting party; and If applicable, claim an exemption from 
withholding based on an international agreement (such as a tax treaty); 
or Claim an exemption from withholding, in whole or in part, based on 
an international procurement agreement or because goods are produced, 
or services are performed in the United States. A Form W-14 must be 
provided to the acquiring agency if a foreign contracting party has 
been paid a specified Federal procurement payment and the foreign 
contracting party is seeking to claim an exemption (in whole or in 
part) from the tax imposed by section 5000C. Form W-14 must be 
submitted when requested by the acquiring agency, whether or not an 
exemption (in whole or in part) is claimed from withholding under 
section 5000C.
    Form: W-14.
    Affected Public: Federal Government.
    Estimated Total Annual Burden Hours: 11,840.

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

    Dated: August 24, 2017.
Jennifer P. Leonard,
Treasury PRA Clearance Officer.
[FR Doc. 2017-18364 Filed 8-29-17; 8:45 am]
 BILLING CODE 4830-01-P