83 FR 52301 - Proposed Extension of Information Collection Request Submitted for Public Comment; Section 6708 Failure To Maintain List of Advisees With Respect to Reportable Transactions

DEPARTMENT OF THE TREASURY
Internal Revenue Service

Federal Register Volume 83, Issue 200 (October 16, 2018)

Page Range		52301-52302
FR Document		2018-22515

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 guidance under section 6708, failure to maintain list of advisees with respect to reportable transactions.

Federal Register, Volume 83 Issue 200 (Tuesday, October 16, 2018)

[Federal Register Volume 83, Number 200 (Tuesday, October 16, 2018)]
[Notices]
[Pages 52301-52302]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-22515]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Extension of Information Collection Request Submitted 
for Public Comment; Section 6708 Failure To Maintain List of Advisees 
With Respect to Reportable Transactions

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 guidance under section 6708, failure to maintain list of 
advisees with respect to reportable transactions.

DATES: Written comments should be received on or before December 17, 
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

[[Page 52302]]

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: Section 6708 Failure to Maintain List of Advisees with 
Respect to Reportable Transactions.
    OMB Number: 1545-2245.
    Regulation Project Number: TD 9764.
    Abstract: This document contains final regulations relating to the 
penalty under section 6708 of the Internal Revenue Code for failing to 
make available lists of advisees with respect to reportable 
transactions. Section 6708 imposes a penalty upon material advisors for 
failing to make available to the Secretary, upon written request, the 
list required to be maintained by section 6112 of the Internal Revenue 
Code within 20 business days after the date of such request. The final 
regulations primarily affect individuals and entities who are material 
advisors, as defined in section 6111 of the Internal Revenue Code.
    Current Actions: There is no change to the burden previously 
approved.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents: 25.
    Estimated Time per Respondent: 8 hours.
    Estimated Total Annual Burden Hours: 200.
    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: October 10, 2018.
R. Joseph Durbala,
Tax Analyst, IRS.
[FR Doc. 2018-22515 Filed 10-15-18; 8:45 am]
 BILLING CODE 4830-01-P

Federal Register / Vol. 83, No. 200 / Tuesday, October 16, 2018 / Notices 52301

areas must be in full compliance with for, respond to, and recover from a materials. By execution of this Waiver
the HMR. threat to public health, welfare, or the Order, persons conducting operations
This Waiver Order is effective environment caused by actual or under the direction of EPA Region 4 or
immediately and shall remain in effect potential oil and hazardous materials USCG Seventh or Eighth Districts
for 30 days from the date of issuance. incidents resulting from Hurricane within the Hurricane Michael
Issued in Washington, DC, on October 10, Michael. emergency area of Georgia are
2018. On October 10, 2018, the President authorized to offer and transport non-
Howard R. Elliott,
issued an Emergency Declaration for radioactive hazardous materials under
Hurricane Michael for Georgia for the alternative safety requirements imposed
Administrator, Pipeline and Hazardous
Materials Safety Administration.
counties of Appling, Atkinson, Bacon, by EPA Region 4 or USCG Seventh or
Baker, Baldwin, Ben Hill, Berrien, Bibb, Eighth Districts when compliance with
[FR Doc. 2018–22423 Filed 10–15–18; 8:45 am]
Bleckley, Brantley, Brooks, Bryan, the HMR is not practicable. Under this
BILLING CODE 4910–60–P
Bulloch, Burke, Butts, Calhoun, Waiver Order, non-radioactive
Camden, Candler, Charlton, Chatham, hazardous materials may be transported
Chattahoochee, Clarke, Clay, Clinch, to staging areas within 50 miles of the
DEPARTMENT OF TRANSPORTATION
Coffee, Colquitt, Columbia, Cook, point of origin. Further transportation of
Pipeline and Hazardous Materials Crawford, Crisp, Decatur, Dodge, Dooly, the hazardous materials from staging
Safety Administration Dougherty, Early, Echols, Effingham, areas must be in full compliance with
Elbert, Emanuel, Evans, Glascock, the HMR.
[Docket No. PHMSA–2018–0100; Notice No. Glynn, Grady, Greene, Hancock,
2018–18]
This Waiver Order is effective
Houston, Irwin, Jasper, Jeff Davis, immediately and shall remain in effect
Jefferson, Jenkins, Johnson, Jones, for 30 days from the date of issuance.
Hazardous Materials: Emergency
Lamar, Lanier, Laurens, Lee, Liberty,
Waiver No. 8 Issued in Washington, DC, on October 11,
Lincoln, Long, Lowndes, Macon,
2018.
AGENCY: Pipeline and Hazardous Marion, McDuffie, McIntosh, Miller,
Mitchell, Monroe, Montgomery, Howard R. Elliott,
Materials Safety Administration
(PHMSA), DOT. Morgan, Muscogee, Oconee, Oglethorpe, Administrator, Pipeline and Hazardous
Peach, Pierce, Pulaski, Putnam, Materials Safety Administration.
ACTION: Notice of emergency waiver
Quitman, Randolph, Richmond, Schley, [FR Doc. 2018–22496 Filed 10–15–18; 8:45 am]
order.
Screven, Seminole, Stewart, Sumter, BILLING CODE 4910–60–P
SUMMARY: PHMSA is issuing an Talbot, Taliaferro, Tattnall, Taylor,
emergency waiver order to persons Telfair, Terrell, Thomas, Tift, Toombs,
conducting operations under the Treutlen, Turner, Twiggs, Upson, Ware, DEPARTMENT OF THE TREASURY
direction of Environmental Protection Warren, Washington, Wayne, Webster,
Agency (EPA) Region 4 or United States Wheeler, Wilcox, Wilkes, Wilkinson, Internal Revenue Service
Coast Guard (USCG) Seventh or Eighth and Worth (EM–3406).
Districts within the Hurricane Michael This Waiver Order covers all areas Proposed Extension of Information
emergency area of Georgia. The Waiver identified in the declaration, as Collection Request Submitted for
is granted to support the EPA and USCG amended. Pursuant to 49 U.S.C. 5103(c), Public Comment; Section 6708 Failure
in taking appropriate actions to prepare PHMSA has authority delegated by the To Maintain List of Advisees With
for, respond to, and recover from a Secretary (49 CFR 1.97(b)(3)) to waive Respect to Reportable Transactions
threat to public health, welfare, or the compliance with any part of the HMR AGENCY: Internal Revenue Service (IRS),
environment caused by actual or provided that the grant of the waiver is: Treasury.
potential oil and hazardous materials (1) In the public interest; (2) not
inconsistent with the safety of ACTION: Notice and request for
incidents resulting from Hurricane comments.
Michael. This Waiver Order is effective transporting hazardous materials; and
immediately and shall remain in effect (3) necessary to facilitate the safe SUMMARY: The Internal Revenue Service,
for 30 days from the date of issuance. movement of hazardous materials into, as part of its continuing effort to reduce
from, and within an area of a major paperwork and respondent burden,
FOR FURTHER INFORMATION CONTACT:
disaster or emergency that has been invites the public and other Federal
Adam Horsley, Deputy Assistant Chief
declared under the Robert T. Stafford agencies to take this opportunity to
Counsel for Hazardous Materials Safety,
Disaster Relief and Emergency
Pipeline and Hazardous Materials Safety comment on proposed and/or
Assistance Act (42 U.S.C. 5121 et seq.).
Administration, telephone: (202) 366– continuing information collections, as
Given the continuing impacts caused
4400. by Hurricane Michael, PHMSA’s required by the Paperwork Reduction
SUPPLEMENTARY INFORMATION: In Administrator has determined that Act of 1995. Currently, the IRS is
accordance with the provisions of 49 regulatory relief is in the public interest soliciting comments concerning
U.S.C. 5103(c), the Administrator for and necessary to ensure the safe guidance under section 6708, failure to
PHMSA, hereby declares that an transportation in commerce of maintain list of advisees with respect to
emergency exists that warrants issuance hazardous materials while the EPA and reportable transactions.
of a Waiver of the Hazardous Materials USCG execute their recovery and DATES: Written comments should be
Regulations (HMR, 49 CFR parts 171– cleanup efforts in Georgia. Specifically, received on or before December 17, 2018
amozie on DSK3GDR082PROD with NOTICES1

180) to persons conducting operations PHMSA’s Administrator finds that to be assured of consideration.
under the direction of EPA Region 4 or issuing this Waiver Order will allow the ADDRESSES: Direct all written comments
USCG Seventh or Eighth Districts EPA and USCG to conduct their to Carolyn Brown, Internal Revenue
within the Hurricane Michael Emergency Support Function #10 Service, Room 6236, 1111 Constitution
emergency area of Georgia. The Waiver response activities under the National Avenue NW, Washington, DC 20224.
is granted to support the EPA and USCG Response Framework to safely remove, Requests for additional information or
in taking appropriate actions to prepare transport, and dispose of hazardous copies of the regulations should be

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52302 Federal Register / Vol. 83, No. 200 / Tuesday, October 16, 2018 / Notices

directed to R. Joseph Durbala, at Internal proposed collection of information, Adjusted Gross Amount for Reporting
Revenue Service, Room 6129, 1111 including the validity of the on Form 1099–K; Tax Identification
Constitution Avenue NW, Washington, methodology and assumptions used; Number Identity Theft Resulting in
DC 20224, or through the internet, at • Enhance the quality, utility, and False Forms 1099; Validity period of
RJoseph.Durbala@irs.gov. clarity of the information to be documentary evidence and treaty
SUPPLEMENTARY INFORMATION: collected; and statement under the Qualified
Title: Section 6708 Failure to • Minimize the burden of the Intermediary (QI) Agreement; Foreign
Maintain List of Advisees with Respect collection of information on those who Account Tax Compliance Act including
to Reportable Transactions. are to respond, including using Section 871(m).
OMB Number: 1545–2245. appropriate automated, electronic, Last minute agenda changes may
Regulation Project Number: TD 9764. mechanical, or other technological preclude notice. Due to limited seating
Abstract: This document contains collection techniques or other forms of and security requirements, please call or
final regulations relating to the penalty information technology, e.g., by email Tonjua Menefee to confirm your
under section 6708 of the Internal permitting electronic submissions of attendance. Ms. Menefee can be reached
Revenue Code for failing to make responses. at 202–317–6851 or PublicLiaison@
available lists of advisees with respect Comments submitted in response to irs.gov. Should you wish the IRPAC to
to reportable transactions. Section 6708 this notice will be summarized and/or consider a written statement, please call
imposes a penalty upon material included in the ICR for OMB approval 202–317–6851, or write to: Internal
advisors for failing to make available to of the extension of the information Revenue Service, Office of National
the Secretary, upon written request, the collection; they will also become a Public Liaison, CL:NPL:SRM, Room
list required to be maintained by section matter of public record. 7559, 1111 Constitution Avenue NW,
6112 of the Internal Revenue Code Approved: October 10, 2018. Washington, DC 20224 or email:
within 20 business days after the date of R. Joseph Durbala, PublicLiaison@irs.gov.
such request. The final regulations Tax Analyst, IRS. Dated: October 10,2018.
primarily affect individuals and entities [FR Doc. 2018–22515 Filed 10–15–18; 8:45 am] Melvin Hardy,
who are material advisors, as defined in BILLING CODE 4830–01–P Director, National Public Liaison.
section 6111 of the Internal Revenue [FR Doc. 2018–22514 Filed 10–15–18; 8:45 am]
Code.
BILLING CODE 4830–01–P
Current Actions: There is no change to DEPARTMENT OF THE TREASURY
the burden previously approved.
Type of Review: Extension of a Internal Revenue Service
DEPARTMENT OF THE TREASURY
currently approved collection.
Affected Public: Business or other for- Advisory Committee to the Internal
Revenue Service; Meeting Internal Revenue Service
profit organizations.
Estimated Number of Respondents: AGENCY: Internal Revenue Service (IRS), Proposed Collection; Comment
25. Treasury. Request for Revenue Procedure
Estimated Time per Respondent: 8 ACTION: Notice of meeting. AGENCY: Internal Revenue Service (IRS),
hours.
SUMMARY: The Information Reporting Treasury.
Estimated Total Annual Burden
Hours: 200. Program Advisory Committee (IRPAC) ACTION: Notice and request for
The following paragraph applies to all will hold a public meeting on comments.
the collections of information covered Wednesday, October 24, 2018.
SUMMARY: The Internal Revenue Service,
by this notice: FOR FURTHER INFORMATION CONTACT: Ms.
as part of its continuing effort to reduce
An agency may not conduct or Tonjua Menefee, National Public
paperwork and respondent burden,
sponsor, and a person is not required to Liaison, CL:NPL: BSRM, Rm. 7559, 1111
invites the general public and other
respond to, a collection of information Constitution Avenue NW, Washington,
Federal agencies to take this
unless the collection of information DC 20224.
opportunity to comment on proposed
displays a valid OMB control number. Phone: 202–317–6851 (not a toll-free
and/or continuing information
Books or records relating to a number). Email address: PublicLiaison@
collections, as required by the
collection of information must be irs.gov.
Paperwork Reduction Act of 1995. The
retained if their contents may become SUPPLEMENTARY INFORMATION: Notice is
IRS is soliciting comments concerning
material in the administration of any hereby given pursuant to section information collection requirements
internal revenue law. Generally, tax 10(a)(2) of the Federal Advisory related to guidance for qualification as
returns and tax return information are Committee Act, 5 U.S.C. App. (1988), an acceptance agent, and execution of
confidential, as required by 26 U.S.C. that a public meeting of the IRPAC will an agreement between an acceptance
6103. be held on Wednesday, October 24, agent and the Internal Revenue Service
Desired Focus of Comments: The 2018 from 9:00 a.m. to 1:00 p.m. at the relating to the issuance of certain
Internal Revenue Service (IRS) is Melrose Georgetown Hotel, 2430 taxpayer identifying numbers.
particularly interested in comments Pennsylvania Ave. NW, Washington, DC
DATES: Written comments should be
that: 20037. Report recommendations on
• Evaluate whether the proposed issues that may be discussed include: received on or before December 17, 2018
amozie on DSK3GDR082PROD with NOTICES1

collection of information is necessary FIRE System Latency, IRC § 6050S and to be assured of consideration.
for the proper performance of the Form 1098–T Reporting; Business ADDRESSES: Direct all written comments
functions of the agency, including Master File Entity Addresses; Form W– to Laurie Brimmer, Internal Revenue
whether the information will have 9 Enhancements; Form W–4 2018 & Service, Room 6529, 1111 Constitution
practical utility; 2019 versions; Expansion of IRS Direct Avenue NW, Washington, DC 20224.
• Evaluate the accuracy of the Pay Program for Estimated Individual FOR FURTHER INFORMATION CONTACT:
agency’s estimate of the burden of the Income Tax Payments; Inclusion of Requests for additional information or

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Document Created: 2018-10-15 23:42:15
Document Modified: 2018-10-15 23:42:15

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 December 17, 2018 to be assured of consideration.
FR Citation		83 FR 52301

83 FR 52301 - Proposed Extension of Information Collection Request Submitted for Public Comment; Section 6708 Failure To Maintain List of Advisees With Respect to Reportable Transactions

DEPARTMENT OF THE TREASURYInternal Revenue Service

Federal Register Volume 83, Issue 200 (October 16, 2018)

DEPARTMENT OF THE TREASURY
Internal Revenue Service