83_FR_20230 83 FR 20142 - Proposed Collection; Comment Request for Regulation Project

83 FR 20142 - Proposed Collection; Comment Request for Regulation Project

DEPARTMENT OF THE TREASURY
Internal Revenue Service

Federal Register Volume 83, Issue 88 (May 7, 2018)

Page Range20142-20142
FR Document2018-09595

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 proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995. The IRS is soliciting comments concerning Special Valuation Rules.

Federal Register, Volume 83 Issue 88 (Monday, May 7, 2018)
[Federal Register Volume 83, Number 88 (Monday, May 7, 2018)]
[Notices]
[Page 20142]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-09595]


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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 
proposed and/or continuing information collections, as required by the 
Paperwork Reduction Act of 1995. The IRS is soliciting comments 
concerning Special Valuation Rules.

DATES: Written comments should be received on or before July 6, 2018 to 
be assured of consideration.

ADDRESSES: Direct all written comments to Laurie 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 form and instructions should be directed to Sandra Lowery 
at Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW, 
Washington, DC 20224, or at (202) 317-5754 or through the internet, at 
Sandra.J.Lowery@irs.gov.

SUPPLEMENTARY INFORMATION: 
    Title: Special Valuation Rules.
    OMB Number: 1545-1241.
    Regulation Project Number: PS-92-90 [TD 8395].
    Abstract: Section 2701 of the Internal Revenue Code allows various 
elections by family members who make gifts of common stock or 
partnership interests and retain senior interests in the same entity. 
This regulation provides guidance on how taxpayers make these 
elections, what information is required, and how the transfer is to be 
disclosed on the gift tax return (Form 709).
    Current Actions: There are no changes being made to the form at 
this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals or households.
    Estimated Number of Respondents: 1,200.
    Estimated Time Per Respondent: 25 minutes.
    Estimated Total Annual Burden Hours: 496.
    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: April 23, 2018.
Laurie Brimmer,
Senior Tax Analyst.
[FR Doc. 2018-09595 Filed 5-4-18; 8:45 am]
 BILLING CODE 4830-01-P



                                               20142                           Federal Register / Vol. 83, No. 88 / Monday, May 7, 2018 / Notices

                                                  Form Number: 8693.                                   DEPARTMENT OF THE TREASURY                               An agency may not conduct or
                                                  Abstract: Form 8693 is needed per                                                                          sponsor, and a person is not required to
                                               IRC section 42(j)(6) to post bond or                    Internal Revenue Service                              respond to, a collection of information
                                               establish a Treasury Direct Account and                                                                       unless the collection of information
                                               waive the recapture requirements under                  Proposed Collection; Comment                          displays a valid OMB control number.
                                               section 42(j) for certain disposition of a              Request for Regulation Project                        Books or records relating to a collection
                                               building on which the low-income                        AGENCY: Internal Revenue Service (IRS),               of information must be retained as long
                                               housing credit was claimed. Internal                    Treasury.                                             as their contents may become material
                                               Revenue regulations section 301.7101–1                                                                        in the administration of any internal
                                                                                                       ACTION: Notice and request for
                                               requires that the posting of a bond must                                                                      revenue law. Generally, tax returns and
                                                                                                       comments.
                                               be done on the appropriate form as                                                                            tax return information are confidential,
                                               determined by the Internal Revenue                      SUMMARY:    The Internal Revenue Service,             as required by 26 U.S.C. 6103.
                                               Service.                                                as part of its continuing effort to reduce               Request for Comments: Comments
                                                  Current Actions: There are no changes                paperwork and respondent burden,                      submitted in response to this notice will
                                               being made to Form 8693 at this time.                   invites the general public and other                  be summarized and/or included in the
                                                  Type of Review: Extension of a                       Federal agencies to take this                         request for OMB approval. All
                                               currently approved collection.                          opportunity to comment on proposed                    comments will become a matter of
                                                  Affected Public: Business or other for-              and/or continuing information                         public record. Comments are invited on:
                                               profit organizations and individuals.                   collections, as required by the                       (a) Whether the collection of
                                                  Estimated Number of Respondents:                     Paperwork Reduction Act of 1995. The                  information is necessary for the proper
                                               667.                                                    IRS is soliciting comments concerning                 performance of the functions of the
                                                  Estimated Time Per Respondent: 5                     Special Valuation Rules.                              agency, including whether the
                                               hrs., 23 mins.                                                                                                information shall have practical utility;
                                                                                                       DATES: Written comments should be
                                                  Estimated Total Annual Burden                                                                              (b) the accuracy of the agency’s estimate
                                               Hours: 3,589.                                           received on or before July 6, 2018 to be
                                                                                                       assured of consideration.                             of the burden of the collection of
                                                  The following paragraph applies to all                                                                     information; (c) ways to enhance the
                                               of the collections of information covered               ADDRESSES: Direct all written comments
                                                                                                                                                             quality, utility, and clarity of the
                                               by this notice:                                         to Laurie Brimmer, Internal Revenue                   information to be collected; (d) ways to
                                                  An agency may not conduct or                         Service, Room 6526, 1111 Constitution                 minimize the burden of the collection of
                                               sponsor, and a person is not required to                Avenue NW, Washington, DC 20224.                      information on respondents, including
                                               respond to, a collection of information                 FOR FURTHER INFORMATION CONTACT:                      through the use of automated collection
                                               unless the collection of information                    Requests for additional information or                techniques or other forms of information
                                               displays a valid OMB control number.                    copies of the form and instructions                   technology; and (e) estimates of capital
                                               Books or records relating to a collection               should be directed to Sandra Lowery at                or start-up costs and costs of operation,
                                               of information must be retained as long                 Internal Revenue Service, Room 6526,                  maintenance, and purchase of services
                                               as their contents may become material                   1111 Constitution Avenue NW,                          to provide information.
                                               in the administration of any internal                   Washington, DC 20224, or at (202) 317–
                                                                                                                                                               Approved: April 23, 2018.
                                               revenue law. Generally, tax returns and                 5754 or through the internet, at
                                               tax return information are confidential,                Sandra.J.Lowery@irs.gov.                              Laurie Brimmer,
                                               as required by 26 U.S.C. 6103.                                                                                Senior Tax Analyst.
                                                                                                       SUPPLEMENTARY INFORMATION:
                                                  Request for Comments: Comments                         Title: Special Valuation Rules.                     [FR Doc. 2018–09595 Filed 5–4–18; 8:45 am]
                                               submitted in response to this notice will                 OMB Number: 1545–1241.                              BILLING CODE 4830–01–P
                                               be summarized and/or included in the                      Regulation Project Number: PS–92–90
                                               request for OMB approval. Comments                      [TD 8395].
                                               will be of public record. Comments are                    Abstract: Section 2701 of the Internal              DEPARTMENT OF THE TREASURY
                                               invited on: (a) Whether the collection of               Revenue Code allows various elections
                                                                                                                                                             Internal Revenue Service
                                               information is necessary for the proper                 by family members who make gifts of
                                               performance of the functions of the                     common stock or partnership interests                 Proposed Collection; Comment
                                               agency, including whether the                           and retain senior interests in the same               Request for Regulation Project
                                               information has practical utility; (b) the              entity. This regulation provides
                                               accuracy of the agency’s estimate of the                guidance on how taxpayers make these                  AGENCY: Internal Revenue Service (IRS),
                                               burden of the collection of information;                elections, what information is required,              Treasury.
                                               (c) ways to enhance the quality, utility,               and how the transfer is to be disclosed               ACTION: Notice and request for
                                               and clarity of the information to be                    on the gift tax return (Form 709).                    comments.
                                               collected; (d) ways to minimize the                       Current Actions: There are no changes
                                               burden of the collection of information                 being made to the form at this time.                  SUMMARY:   The Internal Revenue Service
                                               on respondents, including the use of                      Type of Review: Extension of a                      (IRS), as part of its continuing effort to
                                               automated collection techniques or                      currently approved collection.                        reduce paperwork and respondent
                                               other forms of information technology;                    Affected Public: Individuals or                     burden, invites the general public and
                                               and (e) estimates of capital or start-up                households.                                           other Federal agencies to take this
                                               costs and costs of operation,                             Estimated Number of Respondents:                    opportunity to comment on information
                                               maintenance, and purchase of services                   1,200.                                                collections, as required by the
daltland on DSKBBV9HB2PROD with NOTICES




                                               to provide information.                                   Estimated Time Per Respondent: 25                   Paperwork Reduction Act of 1995. The
                                                                                                       minutes.                                              IRS is soliciting comments concerning
                                                 Approved: April 26, 2018.                                                                                   Guidance on Passive Foreign Investment
                                                                                                         Estimated Total Annual Burden
                                               Laurie Brimmer,                                         Hours: 496.                                           Company (PFIC) Purging Elections.
                                               Senior Tax Analyst.                                       The following paragraph applies to all              DATES: Written comments should be
                                               [FR Doc. 2018–09598 Filed 5–4–18; 8:45 am]              of the collections of information covered             received on or before July 6, 2018 to be
                                               BILLING CODE 4830–01–P                                  by this notice:                                       assured of consideration.


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Document Created: 2018-05-05 02:48:54
Document Modified: 2018-05-05 02:48:54
CategoryRegulatory Information
CollectionFederal Register
sudoc ClassAE 2.7:
GS 4.107:
AE 2.106:
PublisherOffice of the Federal Register, National Archives and Records Administration
SectionNotices
ActionNotice and request for comments.
DatesWritten comments should be received on or before July 6, 2018 to be assured of consideration.
ContactRequests for additional information or copies of the form and instructions should be directed to Sandra Lowery at Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC 20224, or at (202) 317-5754 or through the internet, at [email protected]
FR Citation83 FR 20142 

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