82 FR 42226 - Proposed Collection; Comment Request for Sale of Residence From Qualified Personal Residence Trust (T.D. 8743)

DEPARTMENT OF THE TREASURY
Internal Revenue Service

Federal Register Volume 82, Issue 171 (September 6, 2017)

Page Range		42226-42226
FR Document		2017-18839

Federal Register, Volume 82 Issue 171 (Wednesday, September 6, 2017)

[Federal Register Volume 82, Number 171 (Wednesday, September 6, 2017)]
[Notices]
[Page 42226]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-18839]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Sale of Residence From 
Qualified Personal Residence Trust (T.D. 8743)

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: The Internal Revenue Service (IRS), 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 information collection requirements related to Sale of 
Residence From Qualified Personal Residence Trust.

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DATES: Written comments should be received on or before November 6, 
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 regulation 
should be directed to Taquesha Cain, Room 6526, 1111 Constitution 
Avenue NW., Washington, DC 20224, or through the internet at 
[email protected].

SUPPLEMENTARY INFORMATION: Title: Sale of Residence From Qualified 
Personal Residence Trust.
    OMB Number: 1545-1485.
    Regulation Project Number: T.D. 8743
    Abstract: Internal Revenue Code section 2702(a)(3) provides special 
favorable valuation rules for valuing the gift of a personal residence 
trust. Regulation section 25.2702-5(a)(2) provides that if the trust 
fails to comply with the requirements contained in the regulations, the 
trust will be treated as complying if a statement is attached to the 
gift tax return reporting the gift stating that a proceeding has been 
commenced to reform the instrument to comply with the requirements of 
the regulations.
    Current Actions: There is no change in the paperwork burden 
previously approved by OMB.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals or households.
    Estimated Number of Respondents: 200.
    Estimated Time per Respondent: 3 hour, 7 minutes.
    Estimated Total Annual Burden Hours: 625.
    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: August 29, 2017.
L. Brimmer,
Senior Tax Analyst.
[FR Doc. 2017-18839 Filed 9-5-17; 8:45 am]
 BILLING CODE 4830-01-P

42226 Federal Register / Vol. 82, No. 171 / Wednesday, September 6, 2017 / Notices

participants questions regarding the drivers, to directly learn about drug complying if a statement is attached to
demographics, driving, alcohol, and use, along with collecting self-report the gift tax return reporting the gift
drug use. data. stating that a proceeding has been
Data collection would take place over The data will be used to better commenced to reform the instrument to
a six month period at two to three sites understand the prevalence of a variety comply with the requirements of the
across the country. The research team of drugs in impaired drivers and better regulations.
will coordinate with the local police understand risk factors for drug-
departments and officials at these sites. Current Actions: There is no change
impaired driving.
There will be a private room at each in the paperwork burden previously
Authority: 44 U.S.C. Section 3506(c)(2)(A). approved by OMB.
police department’s booking facility for
this study’s use. Issued in Washington, DC. Type of Review: Extension of a
A police officer will briefly inform the Jeff Michael, currently approved collection.
driver/potential participant of the Associate Administrator, Research and
Program Development.
Affected Public: Individuals or
opportunity to participate in a research
households.
study sponsored by NHTSA. If the [FR Doc. 2017–18827 Filed 9–5–17; 8:45 am]
driver is interested, a researcher will BILLING CODE 4910–59–P Estimated Number of Respondents:
provide full information about the 200.
study. If the driver is not interested, no Estimated Time per Respondent: 3
information will be collected on that DEPARTMENT OF THE TREASURY hour, 7 minutes.
person. The researcher will highlight
that participation is voluntary, the oral Estimated Total Annual Burden
Internal Revenue Service
fluid and survey responses will be Hours: 625.
anonymous, and the participant may Proposed Collection; Comment The following paragraph applies to all
stop the study at any time. The results Request for Sale of Residence From of the collections of information covered
of the drug test and questionnaire will Qualified Personal Residence Trust by this notice:
not be provided to anyone outside of the (T.D. 8743) An agency may not conduct or
research team (including to the sponsor, and a person is not required to
AGENCY: Internal Revenue Service (IRS),
participant), and participation in the respond to, a collection of information
Treasury.
study will not be used to help or hurt
ACTION: The Internal Revenue Service unless the collection of information
the individual in any related legal
(IRS), as part of its continuing effort to displays a valid OMB control number.
proceedings. All participants must be 18
years of age or older to participate. reduce paperwork and respondent Books or records relating to a collection
To provide an oral fluid sample, a burden, invites the general public and of information must be retained as long
participant simply places a cotton swab other Federal agencies to take this as their contents may become material
in their mouth for approximately 5 opportunity to comment on proposed in the administration of any internal
minutes. The specimen will be sent to and/or continuing information revenue law. Generally, tax returns and
an independent laboratory for analyses. collections, as required by the tax return information are confidential,
The participant will also be provided a Paperwork Reduction Act of 1995. The as required by 26 U.S.C. 6103.
self-report survey on alcohol and drug IRS is soliciting comments concerning Request for comments: Comments
use, perceptions of impaired driving, information collection requirements submitted in response to this notice will
and driving behaviors. This survey will related to Sale of Residence From
be summarized and/or included in the
take approximately 10 minutes and will Qualified Personal Residence Trust.
request for OMB approval. All
be conducted via an electronic tablet or, comments will become a matter of
if needed, a paper copy will be DATES: Written comments should be
received on or before November 6, 2017 public record. Comments are invited on:
available. All data will be housed on a
to be assured of consideration. (a) Whether the collection of
secure data collection and management
ADDRESSES: Direct all written comments
information is necessary for the proper
site. No identifying participant
to L. Brimmer, Internal Revenue performance of the functions of the
information will be collected or used in
the study. Drug test results will only be Service, Room 6526, 1111 Constitution agency, including whether the
associated with survey responses using Avenue NW., Washington, DC 20224. information shall have practical utility;
a project subject code. Requests for additional information or (b) the accuracy of the agency’s estimate
Description of the Need for the copies of the regulation should be of the burden of the collection of
Information and Proposed Use of the directed to Taquesha Cain, Room 6526, information; (c) ways to enhance the
Information: The purpose of this study 1111 Constitution Avenue NW., quality, utility, and clarity of the
is to examine the drug presence and Washington, DC 20224, or through the information to be collected; (d) ways to
drug use characteristics of drivers internet at Taquesha.R.Cain@irs.gov. minimize the burden of the collection of
arrested for impaired driving. While SUPPLEMENTARY INFORMATION: Title: Sale information on respondents, including
there is extensive research on alcohol- of Residence From Qualified Personal through the use of automated collection
impaired driving, significantly less is Residence Trust. techniques or other forms of information
known about the prevalence and risk OMB Number: 1545–1485. technology; and (e) estimates of capital
or start-up costs and costs of operation,
asabaliauskas on DSKBBXCHB2PROD with NOTICES

factors of over-the-counter, prescription, Regulation Project Number: T.D. 8743
and illegal drug-positive driving. A Abstract: Internal Revenue Code maintenance, and purchase of services
significant reason for this lack of section 2702(a)(3) provides special to provide information.
information is that impaired drivers favorable valuation rules for valuing the Approved: August 29, 2017.
with alcohol in their system are rarely gift of a personal residence trust.
L. Brimmer,
tested for other drugs and, when tested, Regulation section 25.2702–5(a)(2)
are only tested for a few drugs. To provides that if the trust fails to comply Senior Tax Analyst.
address this knowledge gap, this study with the requirements contained in the [FR Doc. 2017–18839 Filed 9–5–17; 8:45 am]
will obtain a biological specimen from regulations, the trust will be treated as BILLING CODE 4830–01–P

VerDate Sep<11>2014 17:37 Sep 05, 2017 Jkt 241001 PO 00000 Frm 00171 Fmt 4703 Sfmt 9990 E:\FR\FM\06SEN1.SGM 06SEN1

Document Created: 2017-09-06 00:56:46
Document Modified: 2017-09-06 00:56:46

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		The Internal Revenue Service (IRS), 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 information collection requirements related to Sale of Residence From Qualified Personal Residence Trust.
Dates		Written comments should be received on or before November 6, 2017 to be assured of consideration.
FR Citation		82 FR 42226

82 FR 42226 - Proposed Collection; Comment Request for Sale of Residence From Qualified Personal Residence Trust (T.D. 8743)

DEPARTMENT OF THE TREASURYInternal Revenue Service

Federal Register Volume 82, Issue 171 (September 6, 2017)

DEPARTMENT OF THE TREASURY
Internal Revenue Service