83 FR 13178 - Agency Information Collection Activities; Submission for OMB Review; Comment Request; Multiple IRS Information Collection Requests

DEPARTMENT OF THE TREASURY

Federal Register Volume 83, Issue 59 (March 27, 2018)

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 83, Number 59 (Tuesday, March 27, 2018)]
[Notices]
[Pages 13178-13180]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-06060]


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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.

DATES: Comments should be received on or before April 26, 2018 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 Quintana 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)

    1. Title: Mortgage Credit Certificates (MCCs).
    OMB Control Number: 1545-0922.
    Type of Review: Extension without change of a currently approved 
collection.
    Abstract: Mortgage Credit Certificates provide qualified holders of 
the certificates with a credit against income

[[Page 13179]]

tax liability. In general, an Issuer elects to establish a mortgage 
credit certificate program in lieu of issuing qualified mortgage 
revenue bonds. Section 25 of the Code permits states and political 
subdivisions to elect to issue Mortgage Credit Certificates in lieu of 
qualified mortgage revenue bonds. Form 8329 is used by lending 
institutions and Form 8330 is used by state and local governments to 
report on mortgage credit certificates (MCCs) authorized under IRC 
Section 25. IRS matches the information supplied by lenders and issuers 
to ensure that the credit is computed properly.
    Form: 8329, 8330.
    Affected Public: Businesses or other for-profits.
    Estimated Total Annual Burden Hours: 73,720.

    2. Title: TD 9099--Disclosure of Relative Values of Optional Forms 
of Benefit.
    OMB Control Number: 1545-0928.
    Type of Review: Extension without change of a currently approved 
collection.
    Abstract: This document contains previously approved final 
regulations that consolidate the content requirements applicable to 
explanations of qualified joint and survivor annuities and qualified 
preretirement survivor annuities payable under certain retirement 
plans, and specify requirements for disclosing the relative value of 
optional forms of benefit that are payable from certain retirement 
plans in lieu of a qualified joint and survivor annuity. These 
regulations affect plan sponsors and administrators, and participants 
in and beneficiaries of, certain retirement plans.
    Form: None.
    Affected Public: Businesses or other for-profits.
    Estimated Total Annual Burden Hours: 385,000.

    3. Title: Form 8609, Low-Income Housing Credit Allocation 
Certification; Form 8609-A, Annual Statement for Low-Income Housing 
Credit.
    OMB Control Number: 1545-0988.
    Type of Review: Revision of a currently approved collection.
    Abstract: Owners of residential low-income rental buildings may 
claim a low-income housing credit for each qualified building over a 
10-year credit period. Form 8609 can be used to obtain a housing credit 
allocation from the housing credit agency. Form 8609, along with Form 
8609-A, is used by the owner to certify necessary information required 
by the law. The private sector and government agencies, such as housing 
credit agencies, are affected groups.
    Form: 8609, 8609-A.
    Affected Public: Businesses or other for-profits.
    Estimated Total Annual Burden Hours: 414,915.

    4. Title: TD 8302--Low-Income Housing Credit for Federally-assisted 
Buildings.
    OMB Control Number: 1545-1005.
    Type of Review: Extension without change of a currently approved 
collection.
    Abstract: These previously approved final regulations are for the 
rule requires the taxpayer (low-income building owner) to seek a waiver 
in writing from the IRS concerning low-income buildings acquired during 
a special 10-year period in order to avert a claim against a Federal 
mortgage insurance fund.
    Form: None.
    Affected Public: Businesses or other for-profits.
    Estimated Total Annual Burden Hours: 3,000.

    5. Title: Adjustments to Basis of Stock and Indebtedness to 
Shareholders of S Corporations and Treatment of Distributions by S 
Corporations to Shareholders (TD 9300) and Open Account Debt (TD 9428).
    OMB Control Number: 1545-1139.
    Type of Review: Extension without change of a currently approved 
collection.
    Abstract: These previously approved regulations provide the 
procedures and the statements to be filed by S corporations for making 
the election provided under section 1368, and by shareholders who 
choose to reorder items that decrease their basis. Statements required 
to be filled will be used to verify that taxpayers are complying with 
the requirements imposed by Congress.
    Form: None.
    Affected Public: Businesses or other for-profits.
    Estimated Total Annual Burden Hours: 450.

    6. Title: CO-25-96 (TD 8824l) Limitations on Net Operating Loss 
Carryforwards and Certain Built-in Losses and Credits.
    OMB Control Number: 1545-1218.
    Type of Review: Extension without change of a currently approved 
collection.
    Abstract: Section 1502 provides for the promulgation of previously 
approved 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.
    Form: None.
    Affected Public: Businesses or other for-profits.
    Estimated Total Annual Burden Hours: 662.

    7. Title: Limitations on net operating loss carryforwards and 
certain built-in losses following ownership change.
    OMB Control Number: 1545-1275.
    Type of Review: Extension without change of a currently approved 
collection.
    Abstract: 26 U.S.C. 382 limits the amount of the taxable income of 
any new loss corporation for any post-change year which may be offset 
by pre-change losses, for each such year. 26 CFR 1.382-9(d)(2)(iii) and 
(d)(4)(iv) allow a loss corporation to rely on a statement by 
beneficial owners of indebtedness in determining whether the loss 
corporation qualifies under section 382(l)(1)(5). Section 1.382-
9(d)(6)(ii) requires a loss corporation to file an election if it wants 
to apply the regulations retroactively, or revoke a prior section 
382(l)(1)(6) election.
    Form: None.
    Affected Public: Businesses or other for-profits.
    Estimated Total Annual Burden Hours: 200.

    8. Title: Methods to Determine Taxable Income in connection with a 
Cost Sharing Arrangement--IRC Section 482.
    OMB Control Number: 1545-1364.
    Type of Review: Extension without change of a currently approved 
collection.
    Abstract: The purpose of Internal Revenue Code (IRC) section 482 is 
to ensure taxpayers clearly reflect income attributable to controlled 
transactions and to prevent avoidance of taxes regarding such 
transactions. IRC section 482 places a controlled taxpayer on tax 
parity with an uncontrolled taxpayer by determining true taxable 
income. Previously approved, TD 9568 (76 FR 80082) published December 
22, 2011, contained final regulations regarding methods to determine 
taxable income in connection with a cost sharing arrangement under 
section 482 of the Internal Revenue Code. The final regulations address 
issues that had arisen in administering the cost sharing regulations. 
The final regulations affect domestic and foreign entities that enter 
into cost sharing arrangements described in the final regulations.
    Form: None.
    Affected Public: Businesses or other for-profits.

[[Page 13180]]

    Estimated Total Annual Burden Hours: 9,350.

    9. Title: T.D. 8537--Carryover of Passive Activity Losses and 
Credits and At Risk Losses to Bankruptcy Estates of Individuals.
    OMB Control Number: 1545-1375.
    Type of Review: Extension without change of a currently approved 
collection.
    Abstract: This document contains previously approved final 
regulations relating to the application of carryover of passive 
activity losses and credits and at risk losses to the bankruptcy 
estates of individuals. The final regulations affect individual 
taxpayers who file bankruptcy petitions under chapter 7 or chapter 11 
of title 11 of the United States Code and have passive activity losses 
and credits under section 469 or losses under section 465.
    Form: None.
    Affected Public: Businesses or other for-profits.
    Estimated Total Annual Burden Hours: 100.

    10. Title: EE-14-81 Deductions and Reductions in Earnings and 
Profits (or Accumulated Profits) With Respect to Certain Foreign 
Deferred Compensation Plans Maintained by Certain Foreign Corporations.
    OMB Control Number: 1545-1393.
    Type of Review: Extension without change of a currently approved 
collection.
    Abstract: The previously approved regulation provides guidance 
regarding the limitations on deductions and adjustments to earnings and 
profits (or accumulated profits) for certain foreign deferred 
compensation plans. Respondents will be multinational corporations.
    Form: None.
    Affected Public: Businesses or other for-profits.
    Estimated Total Annual Burden Hours: 634,450.

    11. Title: TD 9199--Diesel Fuel and Kerosene Excise Tax; Dye 
Injection.
    OMB Control Number: 1545-1418.
    Type of Review: Extension without change of a currently approved 
collection.
    Abstract: The previously approved regulations relate to the diesel 
fuel and kerosene excise tax and reflect changes made by the American 
Jobs Creation Act of 2004 (Act) regarding mechanical dye injection 
systems. Under the Act, diesel fuel and kerosene that are to be used in 
a nontaxable use must be indelibly dyed by use of a mechanical dye 
injection system that satisfies the requirements set forth in the 
regulations. However, Notice 2005-80 lifted the requirement for 
mechanical injection and because of this there is currently no 
requirement in the regulations for pre-approval by the IRS to inject 
dye into exempt fuel. The statutory requirement remains codified until 
such time they are finalized or removed. The burden has been adjusted 
accordingly.
    Form: None.
    Affected Public: Businesses or other for-profits.
    Estimated Total Annual Burden Hours: 1.

    12. Title: TD 8706 Electronic Filing of Form W-4.
    OMB Control Number: 1545-1435.
    Type of Review: Extension without change of a currently approved 
collection.
    Abstract: This document contains previously approved final 
regulations relating to Form W-4, Employee's Withholding Allowance 
Certificate. The final regulations authorize employers to establish 
electronic systems for use by employees in filing their Forms W-4. The 
regulations provide employers and employees with guidance necessary to 
comply with the law. The regulations affect employers that establish 
electronic systems and their employees.
    Form: None.
    Affected Public: Businesses or other for-profits.
    Estimated Total Annual Burden Hours: 40,000.

    13. Title: TD 8881--General Revision of Regulations Relating to 
Withholding of Tax on Certain U.S. Source Income Paid to Foreign 
Persons.
    OMB Control Number: 1545-1484.
    Type of Review: Extension without change of a currently approved 
collection.
    Abstract: This document contains previously approved regulations 
relating to the withholding of income tax under sections 1441, 1442, 
and 1443 on certain U.S. source income paid to foreign persons and 
related requirements governing collection, deposit, refunds, and 
credits of withheld amounts under sections 1461 through 1463. These 
regulations affect persons making payments of U.S. source income to 
foreign persons.
    Form: None.
    Affected Public: Businesses or other for-profits.
    Estimated Total Annual Burden Hours: 1.

    14. Title: Government Service Information.
    OMB Control Number: 1545-1919.
    Type of Review: Extension without change of a currently approved 
collection.
    Abstract: Form 12854 is used to identify applicants who have had 
prior government service in order to request the official personnel 
folder from federal records and to identify possible pay-setting 
issues.
    Form: 12854.
    Affected Public: Individuals and households.
    Estimated Total Annual Burden Hours: 6,203.

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

    Dated: March 21, 2018.
Spencer W. Clark,
Treasury PRA Clearance Officer.
[FR Doc. 2018-06060 Filed 3-26-18; 8:45 am]
 BILLING CODE 4830-01-P