83_FR_4144 83 FR 4125 - Proposed Collection; Comment Request for Form 8938

83 FR 4125 - Proposed Collection; Comment Request for Form 8938

DEPARTMENT OF THE TREASURY
Internal Revenue Service

Federal Register Volume 83, Issue 19 (January 29, 2018)

Page Range4125-4126
FR Document2018-01657

The Internal Revenue Service (IRS), 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 information collections, as required by the Paperwork Reduction Act of 1995. The IRS is soliciting comments concerning Statement of Specified Foreign Financial Assets.

Federal Register, Volume 83 Issue 19 (Monday, January 29, 2018) 
[Federal Register Volume 83, Number 19 (Monday, January 29, 2018)]
[Notices]
[Pages 4125-4126]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-01657]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Form 8938

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

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SUMMARY: The Internal Revenue Service (IRS), 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 information collections, as required by the Paperwork Reduction Act 
of 1995. The IRS is soliciting comments concerning Statement of 
Specified Foreign Financial Assets.

DATES: Written comments should be received on or before March 30, 2018 
to be assured of consideration.

ADDRESSES: Direct all written comments to L. 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 should be directed to Martha R. Brinson, at (202) 
317-5753 or at Internal Revenue Service, Room 6526, 1111 Constitution 
Avenue NW, Washington, DC 20224, or through the internet at 
Martha.R.Brinson@irs.gov.

SUPPLEMENTARY INFORMATION: 
    Title: Statement of Specified Foreign Financial Assets.

[[Page 4126]]

    OMB Number: 1545-2195.
    Form Number: 8938.
    Abstract: The collection of information in Form 8938 will be the 
means by which taxpayers will comply with self-reporting obligations 
imposed under section 6038D with respect to foreign financial assets. 
The IRS will use the information to determine whether to audit this 
taxpayer or transaction, including whether to impose penalties. The 
information is also required to begin the running of the statute of 
limitations under section 6501.
    Current Actions: There are no changes being made to Form 8938 at 
this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals or Households.
    Estimated Number of Respondents: 350,000.
    Estimated Time per Respondent: 4 hours 37 minutes.
    Estimated Total Annual Burden Hours: 1,627,500.
    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: January 16, 2018.
L. Brimmer,
Senior Tax Analyst.
[FR Doc. 2018-01657 Filed 1-26-18; 8:45 am]
 BILLING CODE 4830-01-P

Federal Register / Vol. 83, No. 19 / Monday, January 29, 2018 / Notices 4125 Estimated Time per Respondent: 3 collections, as required by the comments will become a matter of hours, 38 minutes. Paperwork Reduction Act of 1995. public record. Comments are invited on: Estimated Total Annual Burden Currently, the IRS is soliciting (a) Whether the collection of Hours: 472,380. comments concerning Application for information is necessary for the proper The following paragraph applies to all Exemption from Social Security and performance of the functions of the of the collections of information covered Medicare Taxes and Waiver of Benefits. agency, including whether the by this notice: DATES: Written comments should be information shall have practical utility; An agency may not conduct or received on or before March 30, 2018 to (b) the accuracy of the agency’s estimate sponsor, and a person is not required to be assured of consideration. of the burden of the collection of respond to, a collection of information information; (c) ways to enhance the ADDRESSES: Direct all written comments unless the collection of information quality, utility, and clarity of the to Laurie Brimmer, Internal Revenue displays a valid OMB control number. information to be collected; (d) ways to Service, Room 6526, 1111 Constitution Books or records relating to a collection minimize the burden of the collection of Avenue NW, Washington, DC 20224. of information must be retained as long information on respondents, including as their contents may become material FOR FURTHER INFORMATION CONTACT: through the use of automated collection in the administration of any internal Requests for additional information or techniques or other forms of information revenue law. Generally, tax returns and copies of the form and instructions technology; and (e) estimates of capital tax return information are confidential, should be directed to LaNita Van Dyke or start-up costs and costs of operation, as required by 26 U.S.C. 6103. at Internal Revenue Service, Room 6526, maintenance, and purchase of services Request for Comments: Comments 1111 Constitution Avenue NW, to provide information. submitted in response to this notice will Washington, DC 20224, or (202) 317– 6009 or, through the internet at Approved: January 23, 2018. be summarized and/or included in the request for OMB approval. All Lanita.VanDyke@irs.gov . Laurie Brimmer, comments will become a matter of SUPPLEMENTARY INFORMATION: Senior Tax Analyst. public record. Comments are invited on: Title: Application for Exemption from [FR Doc. 2018–01654 Filed 1–26–18; 8:45 am] (a) Whether the collection of Social Security and Medicare Taxes and BILLING CODE 4830–01–P information is necessary for the proper Waiver of Benefits. performance of the functions of the OMB Number: 1545–0064. agency, including whether the Form Number: 4029. DEPARTMENT OF THE TREASURY information shall have practical utility; Abstract: Form 4029 is used by (b) the accuracy of the agency’s estimate members of recognized religious groups Internal Revenue Service of the burden of the collection of to apply for exemption from social security and Medicare taxes under Proposed Collection; Comment information; (c) ways to enhance the Request for Form 8938 quality, utility, and clarity of the Internal Revenue Code sections 1402(g) information to be collected; (d) ways to and 3127. The information is used to AGENCY: Internal Revenue Service (IRS), minimize the burden of the collection of approve or deny exemption from social Treasury. information on respondents, including security and Medicare taxes. ACTION: Notice and request for through the use of automated collection Current Actions: There are no changes comments. techniques or other forms of information being made to the Form 4029 at this technology; and (e) estimates of capital time. SUMMARY: The Internal Revenue Service or start-up costs and costs of operation, Type of Review: Extension of a (IRS), as part of its continuing effort to maintenance, and purchase of services currently approved collection. reduce paperwork and respondent to provide information. Affected Public: Individuals or burden, invites the general public and households. other Federal agencies to take this Approved: January 23, 2018. Estimated Number of Respondents: opportunity to comment on information Laurie Brimmer, 3,754. collections, as required by the Senior Tax Analyst. Estimated Time per Respondent: 1 Paperwork Reduction Act of 1995. The [FR Doc. 2018–01647 Filed 1–26–18; 8:45 am] hour. IRS is soliciting comments concerning BILLING CODE 4830–01–P Estimated Total Annual Burden Statement of Specified Foreign Hours: 3,792. Financial Assets. The following paragraph applies to all DATES: Written comments should be DEPARTMENT OF THE TREASURY of the collections of information covered received on or before March 30, 2018 to by this notice: Internal Revenue Service be assured of consideration. An agency may not conduct or sponsor, and a person is not required to ADDRESSES: Direct all written comments Proposed Collection; Comment respond to, a collection of information to L. Brimmer, Internal Revenue Request for Form 4029 unless the collection of information Service, Room 6526, 1111 Constitution displays a valid OMB control number. Avenue NW, Washington, DC 20224. AGENCY: Internal Revenue Service (IRS), Treasury. Books or records relating to a collection FOR FURTHER INFORMATION CONTACT: of information must be retained as long Requests for additional information or ACTION: Notice and request for as their contents may become material copies of the form should be directed to comments. Martha R. Brinson, at (202) 317–5753 or sradovich on DSK3GMQ082PROD with NOTICES in the administration of any internal SUMMARY: The Internal Revenue Service, revenue law. Generally, tax returns and at Internal Revenue Service, Room 6526, as part of its continuing effort to reduce tax return information are confidential, 1111 Constitution Avenue NW, paperwork and respondent burden, as required by 26 U.S.C. 6103. Washington, DC 20224, or through the invites the general public and other Request for Comments: Comments internet at Martha.R.Brinson@irs.gov. Federal agencies to take this submitted in response to this notice will SUPPLEMENTARY INFORMATION: opportunity to comment on proposed be summarized and/or included in the Title: Statement of Specified Foreign and/or continuing information request for OMB approval. All Financial Assets. VerDate Sep<11>2014 18:19 Jan 26, 2018 Jkt 244001 PO 00000 Frm 00103 Fmt 4703 Sfmt 4703 E:\FR\FM\29JAN1.SGM 29JAN1

4126 Federal Register / Vol. 83, No. 19 / Monday, January 29, 2018 / Notices OMB Number: 1545–2195. Approved: January 16, 2018. providing guidance to enable taxpayers Form Number: 8938. L. Brimmer, to comply with the mark-to-market Senior Tax Analyst. requirements applicable to dealers in Abstract: The collection of securities. [FR Doc. 2018–01657 Filed 1–26–18; 8:45 am] information in Form 8938 will be the means by which taxpayers will comply BILLING CODE 4830–01–P Current Actions: There is no change to with self-reporting obligations imposed these existing regulations. under section 6038D with respect to Type of Review: Extension of DEPARTMENT OF THE TREASURY foreign financial assets. The IRS will use currently approved collection. the information to determine whether to Internal Revenue Service Affected Public: Business or other for- audit this taxpayer or transaction, profit organizations. including whether to impose penalties. Proposed Collection; Comment The information is also required to Estimated Number of Respondents: Request for Regulation Project begin the running of the statute of 15,708. limitations under section 6501. AGENCY: Internal Revenue Service (IRS), Estimated Average Time per Treasury. Respondent: 3 hours, 19 minutes. Current Actions: There are no changes ACTION: Notice and request for being made to Form 8938 at this time. Estimated Total Annual Burden comments. Type of Review: Extension of a Hours: 52,182. currently approved collection. SUMMARY: The Internal Revenue Service, The following paragraph applies to all Affected Public: Individuals or as part of its continuing effort to reduce the collections of information covered Households. paperwork and respondent burden, by this notice. invites the general public and other Estimated Number of Respondents: The following paragraph applies to all Federal agencies to take this 350,000. of the collections of information covered opportunity to comment on proposed by this notice: Estimated Time per Respondent: 4 and/or continuing information hours 37 minutes. collections, as required by the An agency may not conduct or Estimated Total Annual Burden Paperwork Reduction Act of 1995. sponsor, and a person is not required to Hours: 1,627,500. Currently, the IRS is soliciting respond to, a collection of information comments concerning safe harbor for unless the collection of information The following paragraph applies to all valuation and Mark to Market displays a valid OMB control number. of the collections of information covered Accounting Method for Dealers under by this notice: Books or records relating to a section 475. collection of information must be An agency may not conduct or DATES: Written comments should be retained as long as their contents may sponsor, and a person is not required to received on or before March 30, 2018 to become material in the administration respond to, a collection of information be assured of consideration. of any internal revenue law. Generally, unless the collection of information ADDRESSES: Direct all written comments tax returns and tax return information displays a valid OMB control number. to Laurie Brimmer, Internal Revenue are confidential, as required by 26 Books or records relating to a collection Service, Room 6526, 1111 Constitution U.S.C. 6103. of information must be retained as long Avenue NW, Washington, DC 20224. as their contents may become material Request for Comments: Comments FOR FURTHER INFORMATION CONTACT: submitted in response to this notice will in the administration of any internal Requests for additional information or be summarized and/or included in the revenue law. Generally, tax returns and copies of the regulations should be request for OMB approval. All tax return information are confidential, directed to LaNita Van Dyke, at Internal comments will become a matter of as required by 26 U.S.C. 6103. Revenue Service, Room 6526, 1111 public record. Comments are invited on: Request for Comments: Comments Constitution Avenue NW, Washington, (a) Whether the collection of submitted in response to this notice will DC 20224, or (202) 317–6009 or, through information is necessary for the proper be summarized and/or included in the the internet at Lanita.VanDyke@irs.gov. performance of the functions of the request for OMB approval. All SUPPLEMENTARY INFORMATION: agency, including whether the comments will become a matter of Title: Safe Harbor for Valuation and information shall have practical utility; public record. Comments are invited on: Mark to Market Accounting Method for (b) the accuracy of the agency’s estimate (a) Whether the collection of Dealers under Section 475. of the burden of the collection of information is necessary for the proper OMB Number: 1545–1945. information; (c) ways to enhance the performance of the functions of the Regulation Project Number: TD 9328 quality, utility, and clarity of the agency, including whether the and TD 8700. information to be collected; (d) ways to information shall have practical utility; Abstract: These documents set forth minimize the burden of the collection of (b) the accuracy of the agency’s estimate an elective safe harbor that permits information on respondents, including of the burden of the collection of dealers in securities and dealers in through the use of automated collection information; (c) ways to enhance the commodities to elect to use the values techniques or other forms of information quality, utility, and clarity of the of positions reported on certain technology; and (e) estimates of capital information to be collected; (d) ways to financial statements as the fair market or start-up costs and costs of operation, minimize the burden of the collection of values of those positions for purposes of sradovich on DSK3GMQ082PROD with NOTICES maintenance, and purchase of services information on respondents, including section 475 of the Internal Revenue to provide information. through the use of automated collection Code (Code). This safe harbor is techniques or other forms of information intended to reduce the compliance Approved: January 23, 2018. technology; and (e) estimates of capital burden on taxpayers and to improve the Laurie Brimmer, or start-up costs and costs of operation, administrability of the valuation Senior Tax Analyst. maintenance, and purchase of services requirement of section 475 for the IRS. [FR Doc. 2018–01664 Filed 1–26–18; 8:45 am] to provide information. TD 8700 contains final regulations BILLING CODE 4830–01–P VerDate Sep<11>2014 18:19 Jan 26, 2018 Jkt 244001 PO 00000 Frm 00104 Fmt 4703 Sfmt 9990 E:\FR\FM\29JAN1.SGM 29JAN1


Document Created: 2018-01-27 00:57:57
Document Modified: 2018-01-27 00:57:57
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 March 30, 2018 to be assured of consideration.
ContactRequests for additional information or copies of the form should be directed to Martha R. Brinson, at (202) 317-5753 or at Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC 20224, or through the internet at [email protected]
FR Citation83 FR 4125 
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