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 Range		20142-20142
FR Document		2018-09595

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

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 July 6, 2018 to be assured of consideration.
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 [email protected]
FR Citation		83 FR 20142

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

DEPARTMENT OF THE TREASURYInternal Revenue Service

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

DEPARTMENT OF THE TREASURY
Internal Revenue Service