83 FR 46018 - Proposed Allowance of Information Collection Request Submitted for Public Comment; Transitional Guidance Under Sections 162(f) and 6050X With Respect to Certain Fines, Penalties, and Other Amounts

DEPARTMENT OF THE TREASURY
Internal Revenue Service

Federal Register Volume 83, Issue 176 (September 11, 2018)

Page Range		46018-46018
FR Document		2018-19621

The Internal Revenue Service, as part of its continuing effort to reduce paperwork and respondent burden, invites the 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. Currently, the IRS is soliciting comments concerning transitional guidance under sections 162(f) and 6050X with respect to certain fines, penalties, and other amounts.

Federal Register, Volume 83 Issue 176 (Tuesday, September 11, 2018)

[Federal Register Volume 83, Number 176 (Tuesday, September 11, 2018)]
[Notices]
[Page 46018]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-19621]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Allowance of Information Collection Request Submitted 
for Public Comment; Transitional Guidance Under Sections 162(f) and 
6050X With Respect to Certain Fines, Penalties, and Other Amounts

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

-----------------------------------------------------------------------

SUMMARY: The Internal Revenue Service, as part of its continuing effort 
to reduce paperwork and respondent burden, invites the 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. Currently, the IRS is soliciting comments 
concerning transitional guidance under sections 162(f) and 6050X with 
respect to certain fines, penalties, and other amounts.

DATES: Written comments should be received on or before November 13, 
2018 to be assured of consideration.

ADDRESSES: Direct all written comments to Carolyn Brown, Internal 
Revenue Service, Room 6236, 1111 Constitution Avenue NW, Washington, DC 
20224. Requests for additional information or copies of the regulations 
should be directed to R. Joseph Durbala, at Internal Revenue Service, 
Room 6129, 1111 Constitution Avenue NW, Washington, DC 20224, or 
through the internet, at [email protected].

SUPPLEMENTARY INFORMATION: 
    Title: Transitional Guidance Under Sections 162(f) and 6050X with 
Respect to Certain Fines, Penalties, and Other Amounts.
    OMB Number: 1545--New.
    Regulation Project Number: Notice 2018-23, Form 1098-F.
    Abstract: The collection covers the new information reporting 
requirements under IRC 162(f) and new 6050X, which was added by the Tax 
Cuts and Jobs Act (TCJA).
    Section 13306 of ``An Act to provide for reconciliation pursuant to 
titles II and V of the concurrent resolution on the budget for fiscal 
year 2018,'' Public Law 115-97 (the ``Act''), which was signed into law 
on December 22, 2017, amended section 162(f) of the Internal Revenue 
Code (``Code'') and added new section 6050X to the Code. The Department 
of the Treasury (``Treasury Department'') and the Internal Revenue 
Service (``IRS'') intend to publish proposed regulations under sections 
162(f) and 6050X.
    Current Actions: The Treasury Department and the IRS intend to 
issue proposed regulations amending and adding sections to the Income 
Tax Regulations with respect to sections 162(f) and 6050X. To assist in 
the development of the proposed regulations, the IRS has requests 
comments from the public and affected governments and nongovernmental 
entities, on any and all issues related to the application and 
implementation of sections 162(f) and 6050X that the proposed 
regulations should address.
    This submission is being made to seek new approval as required in 
the Paperwork Reduction Act.
    Type of Review: New collection.
    Affected Public: Federal government, State, Local, or Tribal 
Government.
    Estimated Number of Respondents: 200.
    Estimated Time per Respondent: 7 min.
    Estimated Total Annual Burden Hours: 24.
    The following paragraph applies to all 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 if 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.
    Desired Focus of Comments: The Internal Revenue Service (IRS) is 
particularly interested in comments that:
     Evaluate whether the proposed collection of information is 
necessary for the proper performance of the functions of the agency, 
including whether the information will have practical utility;
     Evaluate the accuracy of the agency's estimate of the 
burden of the proposed collection of information, including the 
validity of the methodology and assumptions used;
     Enhance the quality, utility, and clarity of the 
information to be collected; and
     Minimize the burden of the collection of information on 
those who are to respond, including using appropriate automated, 
electronic, mechanical, or other technological collection techniques or 
other forms of information technology, e.g., by permitting electronic 
submissions of responses.
    Comments submitted in response to this notice will be summarized 
and/or included in the ICR for OMB approval of the extension of the 
information collection; they will also become a matter of public 
record.

    Approved: September 4, 2018.
R. Joseph Durbala,
IRS, Tax Analyst.
[FR Doc. 2018-19621 Filed 9-10-18; 8:45 am]
 BILLING CODE 4830-01-P

46018 Federal Register / Vol. 83, No. 176 / Tuesday, September 11, 2018 / Notices

material in the administration of any Act of 1995. Currently, the IRS is Estimated Time per Respondent: 7
internal revenue law. Generally, tax soliciting comments concerning min.
returns and tax return information are transitional guidance under sections Estimated Total Annual Burden
confidential, as required by 26 U.S.C. 162(f) and 6050X with respect to certain Hours: 24.
6103. fines, penalties, and other amounts.
Desired Focus of Comments: The DATES: Written comments should be
The following paragraph applies to all
Internal Revenue Service (IRS) is received on or before November 13, the collections of information covered
particularly interested in comments 2018 to be assured of consideration. by this notice:
that: ADDRESSES: Direct all written comments An agency may not conduct or
• Evaluate whether the proposed to Carolyn Brown, Internal Revenue sponsor, and a person is not required to
collection of information is necessary Service, Room 6236, 1111 Constitution respond to, a collection of information
for the proper performance of the Avenue NW, Washington, DC 20224. unless the collection of information
functions of the agency, including Requests for additional information or displays a valid OMB control number.
whether the information will have copies of the regulations should be
practical utility; Books or records relating to a
directed to R. Joseph Durbala, at Internal
• Evaluate the accuracy of the collection of information must be
Revenue Service, Room 6129, 1111 retained if their contents may become
agency’s estimate of the burden of the
Constitution Avenue NW, Washington, material in the administration of any
proposed collection of information,
DC 20224, or through the internet, at internal revenue law. Generally, tax
including the validity of the
RJoseph.Durbala@irs.gov.
methodology and assumptions used; returns and tax return information are
• Enhance the quality, utility, and SUPPLEMENTARY INFORMATION: confidential, as required by 26 U.S.C.
clarity of the information to be Title: Transitional Guidance Under 6103.
collected; and Sections 162(f) and 6050X with Respect
to Certain Fines, Penalties, and Other Desired Focus of Comments: The
• Minimize the burden of the
Amounts. Internal Revenue Service (IRS) is
collection of information on those who
OMB Number: 1545—New. particularly interested in comments
are to respond, including using
appropriate automated, electronic, Regulation Project Number: Notice that:
mechanical, or other technological 2018–23, Form 1098–F. • Evaluate whether the proposed
collection techniques or other forms of Abstract: The collection covers the collection of information is necessary
information technology, e.g., by new information reporting requirements for the proper performance of the
permitting electronic submissions of under IRC 162(f) and new 6050X, which functions of the agency, including
responses. was added by the Tax Cuts and Jobs Act whether the information will have
Comments submitted in response to (TCJA).
practical utility;
this notice will be summarized and/or Section 13306 of ‘‘An Act to provide
for reconciliation pursuant to titles II • Evaluate the accuracy of the
included in the ICR for OMB approval
and V of the concurrent resolution on agency’s estimate of the burden of the
of the extension of the information
collection; they will also become a the budget for fiscal year 2018,’’ Public proposed collection of information,
matter of public record. Law 115–97 (the ‘‘Act’’), which was including the validity of the
signed into law on December 22, 2017, methodology and assumptions used;
Approved: September 4, 2018. amended section 162(f) of the Internal
R. Joseph Durbala,
• Enhance the quality, utility, and
Revenue Code (‘‘Code’’) and added new clarity of the information to be
IRS, Tax Analyst. section 6050X to the Code. The collected; and
[FR Doc. 2018–19619 Filed 9–10–18; 8:45 am] Department of the Treasury (‘‘Treasury
BILLING CODE 4830–01–P Department’’) and the Internal Revenue • Minimize the burden of the
Service (‘‘IRS’’) intend to publish collection of information on those who
proposed regulations under sections are to respond, including using
DEPARTMENT OF THE TREASURY 162(f) and 6050X. appropriate automated, electronic,
Current Actions: The Treasury mechanical, or other technological
Internal Revenue Service Department and the IRS intend to issue collection techniques or other forms of
proposed regulations amending and information technology, e.g., by
Proposed Allowance of Information
adding sections to the Income Tax permitting electronic submissions of
Collection Request Submitted for
Regulations with respect to sections responses.
Public Comment; Transitional
162(f) and 6050X. To assist in the Comments submitted in response to
Guidance Under Sections 162(f) and
development of the proposed this notice will be summarized and/or
6050X With Respect to Certain Fines,
regulations, the IRS has requests
Penalties, and Other Amounts included in the ICR for OMB approval
comments from the public and affected
of the extension of the information
AGENCY: Internal Revenue Service (IRS), governments and nongovernmental
collection; they will also become a
Treasury. entities, on any and all issues related to
the application and implementation of matter of public record.
ACTION: Notice and request for
comments. sections 162(f) and 6050X that the Approved: September 4, 2018.
proposed regulations should address. R. Joseph Durbala,
SUMMARY: The Internal Revenue Service, This submission is being made to seek
daltland on DSKBBV9HB2PROD with NOTICES

IRS, Tax Analyst.
as part of its continuing effort to reduce new approval as required in the [FR Doc. 2018–19621 Filed 9–10–18; 8:45 am]
paperwork and respondent burden, Paperwork Reduction Act.
invites the public and other Federal BILLING CODE 4830–01–P
Type of Review: New collection.
agencies to take this opportunity to Affected Public: Federal government,
comment on proposed and/or State, Local, or Tribal Government.
continuing information collections, as Estimated Number of Respondents:
required by the Paperwork Reduction 200.

VerDate Sep<11>2014 18:49 Sep 10, 2018 Jkt 244001 PO 00000 Frm 00144 Fmt 4703 Sfmt 9990 E:\FR\FM\11SEN1.SGM 11SEN1

Document Created: 2018-09-11 01:02:04
Document Modified: 2018-09-11 01:02:04

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 November 13, 2018 to be assured of consideration.
FR Citation		83 FR 46018

83 FR 46018 - Proposed Allowance of Information Collection Request Submitted for Public Comment; Transitional Guidance Under Sections 162(f) and 6050X With Respect to Certain Fines, Penalties, and Other Amounts

DEPARTMENT OF THE TREASURYInternal Revenue Service

Federal Register Volume 83, Issue 176 (September 11, 2018)

DEPARTMENT OF THE TREASURY
Internal Revenue Service