83 FR 13348 - Proposed Collection; Comment Request for Regulation Project

DEPARTMENT OF THE TREASURY
Internal Revenue Service

Federal Register Volume 83, Issue 60 (March 28, 2018)

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. The IRS is soliciting comments concerning international boycott report.

[Federal Register Volume 83, Number 60 (Wednesday, March 28, 2018)]
[Notices]
[Pages 13348-13349]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-06237]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed 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. The IRS is soliciting comments concerning 
international boycott report.

DATES: Written comments should be received on or before May 29, 2018 to 
be assured of consideration.

ADDRESSES: Direct all written comments to Laurie Brimmer, Internal 
Revenue Service, room 6529, 1111 Constitution Avenue NW, Washington, DC 
20224.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the form should be directed to Kerry Dennis, at (202) 317-
5751 or Internal Revenue Service, Room 6529, 1111 Constitution Avenue 
NW, Washington DC 20224, or through the internet, at 
[email protected].

SUPPLEMENTARY INFORMATION: 
    Title: International Boycott Report.
    OMB Number: 1545-0216.
    Form Number(s): 5713 and Schedules A, B, and C (Form 5713).
    Abstract: Form 5713 and related Schedules A, B, and C are used by 
any entity that has operations in a ``boycotting'' country. If that 
entity cooperates with or participates in an international boycott, it 
may lose a portion of the following benefits: the foreign tax credit, 
deferral of income of a controlled foreign corporation, deferral of 
income of a domestic international sales corporation, or deferral of 
income of a foreign sales corporation. The IRS uses Form 5713 to 
determine if any of these benefits should be lost. The information is 
also used as the basis for a report to the Congress.
    Current Actions: There have been no changes to the forms that would 
increase burden. However, the agency has updated its estimated number 
of responses for each form based on recent filing data.
    Type of Review: Revision of a currently approved collection.
    Affected Public: Business or other for-profit organizations.

Form 5713
    Estimated Number of Respondents: 4,822.
    Estimated Time Per Respondent: 28.37 hours.

Schedule A (Form 5713)
    Estimated Number of Respondents: 244.
    Estimated Time Per Respondent: 3.57 hours.

Schedule B (Form 5713)
    Estimated Number of Respondents: 280.
    Estimated Time Per Respondent: 7.46 hours.

Schedule C (Form 5713)
    Estimated Number of Respondents: 226.
    Estimated Time Per Respondent: 9 hours.

[[Page 13349]]

    Estimated Total Annual Burden Hours: 143,498,
    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: March 20, 2018.
Laurie Brimmer,
Senior Tax Analyst.
[FR Doc. 2018-06237 Filed 3-27-18; 8:45 am]
 BILLING CODE 4830-01-P