82 FR 58693 - Proposed Information Collection; Comment Request for Regulation Project

DEPARTMENT OF THE TREASURY
Internal Revenue Service

Federal Register Volume 82, Issue 238 (December 13, 2017)

Page Range		58693-58694
FR Document		2017-26877

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 continuing information collections, as required by the Paperwork Reduction Act of 1995. IRS is soliciting comments concerning Limitations on Net Operating Loss Carryforwards and Certain Built-in Losses and Credits Following.

Federal Register, Volume 82 Issue 238 (Wednesday, December 13, 2017)

[Federal Register Volume 82, Number 238 (Wednesday, December 13, 2017)]
[Notices]
[Pages 58693-58694]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-26877]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Information Collection; Comment Request for Regulation 
Project

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 
continuing information collections, as required by the Paperwork 
Reduction Act of 1995. IRS is soliciting comments concerning 
Limitations on Net Operating Loss Carryforwards and Certain Built-in 
Losses and Credits Following.

DATES: Written comments should be received on or before February 12, 
2018 to be assured of consideration.

ADDRESSES: Direct all written comments to T. Pinkston, Internal Revenue 
Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC 20224.

FOR FURTHER INFORMATION CONTACT: Please send separate comments for each

[[Page 58694]]

specific information collection listed below. You must reference the 
information collection's title, form number, reporting or record-
keeping requirement number, and OMB number (if any) in your comment. 
Requests for additional information, or copies of the information 
collection and instructions, or copies of any comments received, 
contact Elaine Christophe, at (202) 317-5745, at Internal Revenue 
Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC 20224, 
or through the internet, at [email protected].

SUPPLEMENTARY INFORMATION: 
    The IRS is seeking comments concerning the reporting and/or record-
keeping requirements of TD 8824.
    Title: Limitations on Net Operating Loss Carry-forwards and Certain 
Built-in Losses and Credits Following an Ownership Change of a 
Consolidated Group.
    OMB Number: 1545-1218.
    Regulation Project Number: TD 8824.
    Abstract: Section 1502 provides for the promulgation of regulations 
with respect to corporations that file consolidated income tax returns. 
Section 382 limits the amount of income that can be offset by loss 
carryovers and credits after an ownership change. These final 
regulations provide rules for applying section 382 to groups of 
corporations that file a consolidated return.
    Current Actions: There is no change to this existing regulation.
    Type of Review: Extension of currently approved collection.
    Affected Public: Business or other for-profit.
    Estimated Number of Respondents: 12,054.
    Estimated Time per Respondent: 20 minutes.
    Estimated Total Annual Burden Hours: 662.
    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 our request for Office of 
Management and Budget (OMB) approval of the relevant information 
collection. All comments will become a matter of public record. Please 
do not include any confidential or inappropriate material in your 
comments.
    We invite comments on: (a) Whether the collection of information is 
necessary for the proper performance of the agency's functions, 
including whether the information has 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 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 the 
requested information.

    Approved: December 6, 2017.
T. Pinkston,
Supervisory Tax Analyst.
[FR Doc. 2017-26877 Filed 12-12-17; 8:45 am]
 BILLING CODE 4830-01-P

58694 Federal Register / Vol. 82, No. 238 / Wednesday, December 13, 2017 / Notices

specific information collection listed information collection. All comments other entity or instrumentality thereof,
below. You must reference the will become a matter of public record. including a government-sponsored
information collection’s title, form Please do not include any confidential agency), who resides in the United
number, reporting or record-keeping or inappropriate material in your States or is subject to the jurisdiction of
requirement number, and OMB number comments. the United States.
(if any) in your comment. Requests for We invite comments on: (a) Whether Who Must Report: The reporting panel
additional information, or copies of the the collection of information is is based upon the data submitted for the
information collection and instructions, necessary for the proper performance of 2016 Benchmark survey and the June
or copies of any comments received, the agency’s functions, including 2017 TIC report Aggregate Holdings of
contact Elaine Christophe, at (202) 317– whether the information has practical Long-Term Securities by U.S. and
5745, at Internal Revenue Service, Room utility; (b) the accuracy of the agency’s Foreign Residents (TIC SLT). Entities
6526, 1111 Constitution Avenue NW, estimate of the burden of the collection required to report will be contacted
Washington, DC 20224, or through the of information; (c) ways to enhance the individually by the Federal Reserve
internet, at Elaine.H.Christophe@irs.gov. quality, utility, and clarity of the Bank of New York. Entities not
SUPPLEMENTARY INFORMATION:
information to be collected; (d) ways to contacted by the Federal Reserve Bank
The IRS is seeking comments minimize the burden of the collection of of New York have no reporting
concerning the reporting and/or record- information on respondents, including responsibilities.
the use of automated collection What to Report: This report will
keeping requirements of TD 8824.
techniques or other forms of information collect information on holdings by U.S.
Title: Limitations on Net Operating
technology; and (e) estimates of capital residents of foreign securities, including
Loss Carry-forwards and Certain Built-in
or start-up costs and costs of operation, equities, long-term debt securities, and
Losses and Credits Following an short-term debt securities (including
Ownership Change of a Consolidated maintenance, and purchase of services
to provide the requested information. selected money market instruments).
Group. How to Report: Copies of the survey
OMB Number: 1545–1218. Approved: December 6, 2017.
forms and instructions, which contain
Regulation Project Number: TD 8824. T. Pinkston, complete information on reporting
Abstract: Section 1502 provides for Supervisory Tax Analyst. procedures and definitions, may be
the promulgation of regulations with [FR Doc. 2017–26877 Filed 12–12–17; 8:45 am] obtained at the website address given
respect to corporations that file BILLING CODE 4830–01–P above in the Summary. Completed
consolidated income tax returns. reports can be submitted electronically
Section 382 limits the amount of income or mailed to the Federal Reserve Bank
that can be offset by loss carryovers and DEPARTMENT OF THE TREASURY of New York, Statistics Function, 4th
credits after an ownership change. Floor, 33 Liberty Street, New York, NY
These final regulations provide rules for Office of the Assistant Secretary for 10045–0001. Inquiries can be made to
applying section 382 to groups of International Affairs; Survey of U.S. the survey staff of the Federal Reserve
corporations that file a consolidated Ownership of Foreign Securities as of Bank of New York at (212) 720–6300 or
return. December 31, 2017 email: SHC.help@ny.frb.org. Inquiries
Current Actions: There is no change to AGENCY: Departmental Offices, can also be made to Dwight Wolkow at
this existing regulation. Department of the Treasury. (202) 622–1276, email: comments2TIC@
Type of Review: Extension of do.treas.gov.
ACTION: Notice of reporting
currently approved collection. When to Report: Data must be
requirements.
Affected Public: Business or other for- submitted to the Federal Reserve Bank
profit. SUMMARY: By this Notice, the of New York, acting as fiscal agent for
Estimated Number of Respondents: Department of the Treasury is informing the Department of the Treasury, by
12,054. the public that it is conducting a March 2, 2018.
Estimated Time per Respondent: 20 mandatory survey of ownership of Paperwork Reduction Act Notice: This
minutes. foreign securities by U.S. residents as of data collection has been approved by
Estimated Total Annual Burden December 31, 2017. This Notice the Office of Management and Budget
Hours: 662. constitutes legal notification to all (OMB) in accordance with the
The following paragraph applies to all United States persons (defined below) Paperwork Reduction Act and assigned
of the collections of information covered who meet the reporting requirements set control number 1505–0146. An agency
by this notice: forth in this Notice that they must may not conduct or sponsor, and a
An agency may not conduct or respond to, and comply with, this person is not required to respond to, a
sponsor, and a person is not required to survey. The reporting form SHCA (2017) collection of information unless it
respond to, a collection of information and instructions may be printed from displays a valid control number
unless the collection of information the internet at: http://www.treasury.gov/ assigned by OMB. The estimated
displays a valid OMB control number. resource-center/data-chart-center/tic/ average annual burden associated with
Books or records relating to a collection Pages/forms-sh.aspx#shc. this collection of information is 49
of information must be retained as long Definition: Pursuant to 22 U.S.C. 3102 hours per respondent for end-investors
as their contents may become material a United States person is any and custodians that file Schedule 3
in the administration of any internal individual, branch, partnership, reports covering their securities
revenue law. Generally, tax returns and associated group, association, estate, entrusted to U.S. resident custodians,
sradovich on DSK3GMQ082PROD with NOTICES

tax return information are confidential, trust, corporation, or other organization 146 hours per respondent for large end-
as required by 26 U.S.C. 6103. (whether or not organized under the investors filing Schedule 2 reports, and
Request for Comments: Comments laws of any State), and any government 546 hours per respondent for large
submitted in response to this notice will (including a foreign government, the custodians of securities filing Schedule
be summarized and/or included in our United States Government, a State or 2 reports. Comments concerning the
request for Office of Management and local government, and any agency, accuracy of this burden estimate and
Budget (OMB) approval of the relevant corporation, financial institution, or suggestions for reducing this burden

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Document Created: 2017-12-13 01:23:45
Document Modified: 2017-12-13 01:23:45

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 February 12, 2018 to be assured of consideration.
Contact		Please send separate comments for each specific information collection listed below. You must reference the information collection's title, form number, reporting or record- keeping requirement number, and OMB number (if any) in your comment. Requests for additional information, or copies of the information collection and instructions, or copies of any comments received, contact Elaine Christophe, at (202) 317-5745, at Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC 20224, or through the internet, at [email protected]
FR Citation		82 FR 58693

82 FR 58693 - Proposed Information Collection; Comment Request for Regulation Project

DEPARTMENT OF THE TREASURYInternal Revenue Service

Federal Register Volume 82, Issue 238 (December 13, 2017)

DEPARTMENT OF THE TREASURY
Internal Revenue Service