82 FR 49266 - Proposed Collection; Comment Request for Federal Insurance Contributions Act (FICA) Taxation of Amounts Under Employee Benefit Plans (T.D. 8814)

DEPARTMENT OF THE TREASURY
Internal Revenue Service

Federal Register Volume 82, Issue 204 (October 24, 2017)

[Federal Register Volume 82, Number 204 (Tuesday, October 24, 2017)]
[Notices]
[Page 49266]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-23087]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Federal Insurance 
Contributions Act (FICA) Taxation of Amounts Under Employee Benefit 
Plans (T.D. 8814)

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 the treatment 
amounts deferred under certain nonqualified deferred compensation 
plans.

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DATES: Written comments should be received on or before December 26, 
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.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the regulation should be directed to Taquesha Cain, at (202) 
317-8979 room 6526, 1111 Constitution Avenue NW., Washington, DC 20224, 
or through the internet at [email protected].

SUPPLEMENTARY INFORMATION: 
    Title: Federal Insurance Contributions Act (FICA) Taxation of 
Amounts Under Employee Benefit Plans.
    OMB Number: 1545-1643.
    Regulation Project Number: T.D. 8814
    Abstract: Internal Revenue Code section 3121(v)(2) provides 
guidance as to when amounts deferred under or paid from a nonqualified 
deferred compensation plan are taken into account as wages for purposes 
of the employment taxes imposed by the Federal Insurance Contributions 
Act (FICA). Section 3121(v)(2), relating to treatment of certain 
nonqualified deferred compensation, was added to the Code by section 
324 of the Social Security Amendments of 1983. These regulations 
provide guidance to employers who maintain nonqualified deferred 
compensation plans and to participants in those plans.
    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: Business or other for-profit organizations and 
not-for-profit institutions.
    Estimated Number of Respondents: 2,500.
    Estimated Time per Respondent: 5 hours.
    Estimated Total Annual Burden Hours: 12,500.
    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: October 18, 2017.
L. Brimmer,
Senior Tax Analyst.
[FR Doc. 2017-23087 Filed 10-23-17; 8:45 am]
 BILLING CODE 4830-01-P