83_FR_62907 83 FR 62674 - Proposed Extension of Information Collection Request Submitted for Public Comment; Comment Request for Form 8918

83 FR 62674 - Proposed Extension of Information Collection Request Submitted for Public Comment; Comment Request for Form 8918

DEPARTMENT OF THE TREASURY
Internal Revenue Service

Federal Register Volume 83, Issue 233 (December 4, 2018)

Page Range62674-62675
FR Document2018-26256

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 the disclosure of reportable transactions.

Federal Register, Volume 83 Issue 233 (Tuesday, December 4, 2018) 
[Federal Register Volume 83, Number 233 (Tuesday, December 4, 2018)]
[Notices]
[Pages 62674-62675]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-26256]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Extension of Information Collection Request Submitted 
for Public Comment; Comment Request for Form 8918

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 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 the disclosure of reportable transactions.

DATES: Written comments should be received on or before February 4, 
2019 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: Disclosure of reportable transactions.
    OMB Number: 1545-0865.
    Form Number: 8918.
    Abstract: Internal Revenue Code (IRC) 6111 requires a sub-set of 
promoters called ``material advisors'' to disclose information about 
the promotion of certain types of transactions called ``reportable 
transactions.'' Material advisors to any reportable transaction must 
disclose certain information about the reportable transaction by filing 
a Form 8918 with the IRS. Material advisors who file a Form 8918 will 
receive a reportable transaction number from the IRS. Material advisors 
must provide the reportable transaction number to all taxpayers and 
material advisors for whom the material advisor acts as a material 
advisor.
    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: 350.
    Estimated Time Per Respondent: 14 hrs., 33 min.
    Estimated Total Annual Burden Hours: 5,096.
    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

[[Page 62675]]

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: November 27, 2018.
R. Joseph Durbala,
IRS Tax Analyst.
[FR Doc. 2018-26256 Filed 12-3-18; 8:45 am]
 BILLING CODE 4830-01-P

62674 Federal Register / Vol. 83, No. 233 / Tuesday, December 4, 2018 / Notices Act of 1995. Currently, the IRS is respond to, a collection of information agencies to take this opportunity to soliciting comments concerning the unless the collection of information comment on proposed and/or disclosure of returns and return displays a valid OMB control number. continuing information collections, as information to a designee of a taxpayer. Books or records relating to a required by the Paperwork Reduction DATES: Written comments should be collection of information must be Act of 1995. Currently, the IRS is received on or before February 4, 2019 retained if their contents may become soliciting comments concerning the to be assured of consideration. material in the administration of any disclosure of reportable transactions. ADDRESSES: Direct all written comments internal revenue law. Generally, tax DATES: Written comments should be to Carolyn Brown, Internal Revenue returns and tax return information are received on or before February 4, 2019 Service, Room 6236, 1111 Constitution confidential, as required by 26 U.S.C. to be assured of consideration. Avenue NW, Washington, DC 20224. 6103. ADDRESSES: Direct all written comments Requests for additional information or Desired Focus of Comments: The to Carolyn Brown, Internal Revenue copies of the regulations should be Internal Revenue Service (IRS) is Service, Room 6236, 1111 Constitution directed to R. Joseph Durbala, at Internal particularly interested in comments Avenue NW, Washington, DC 20224. Revenue Service, Room 6129, 1111 that: Requests for additional information or Constitution Avenue NW, Washington • Evaluate whether the proposed copies of the regulations should be DC 20224, or through the internet, at collection of information is necessary directed to R. Joseph Durbala, at Internal RJoseph.Durbala@irs.gov. for the proper performance of the Revenue Service, Room 6129, 1111 SUPPLEMENTARY INFORMATION: functions of the agency, including Constitution Avenue NW, Washington Title: Disclosure of Returns and whether the information will have DC 20224, or through the internet, at Return Information to Designee of practical utility; RJoseph.Durbala@irs.gov. Taxpayer. • Evaluate the accuracy of the agency’s estimate of the burden of the SUPPLEMENTARY INFORMATION: OMB Number: 1545–1816. proposed collection of information, Title: Disclosure of reportable Regulation Project Number: TD 9054, including the validity of the transactions. as amended by TD 9618. Abstract: Under section 6103(a), methodology and assumptions used; OMB Number: 1545–0865. returns and return information are • Enhance the quality, utility, and Form Number: 8918. confidential unless disclosure is clarity of the information to be Abstract: Internal Revenue Code (IRC) otherwise authorized by the Code. collected; and 6111 requires a sub-set of promoters Section 6103(c), as amended in 1996 by • Minimize the burden of the called ‘‘material advisors’’ to disclose section 1207 of the Taxpayer Bill of collection of information on those who information about the promotion of Rights II, Public Law 104–168 (110 Stat. are to respond, including using certain types of transactions called 1452), authorizes the IRS to disclose appropriate automated, electronic, ‘‘reportable transactions.’’ Material returns and return information to such mechanical, or other technological advisors to any reportable transaction person or persons as the taxpayer may collection techniques or other forms of must disclose certain information about designate in a request for or consent to information technology, e.g., by the reportable transaction by filing a disclosure, or to any other person at the permitting electronic submissions of Form 8918 with the IRS. Material taxpayer’s request to the extent responses. advisors who file a Form 8918 will necessary to comply with a request for Comments submitted in response to receive a reportable transaction number information or assistance made by the this notice will be summarized and/or from the IRS. Material advisors must taxpayer to such other person. included in the ICR for OMB approval provide the reportable transaction Disclosure is permitted subject to such of the extension of the information number to all taxpayers and material requirements and conditions as may be collection; they will also become a advisors for whom the material advisor prescribed by regulations. With the matter of public record. acts as a material advisor. Current Actions: There is no change to amendment in 1996, Congress Approved: November 27, 2018. the burden previously approved. eliminated the longstanding R. Joseph Durbala, Type of Review: Extension of a requirement that disclosures to IRS Tax Analyst. currently approved collection. designees of the taxpayer must be [FR Doc. 2018–26259 Filed 12–3–18; 8:45 am] Affected Public: Business or other for- pursuant to the written request or BILLING CODE 4830–01–P profit organizations. consent of the taxpayer. Estimated Number of Respondents: Current Actions: There is no change to 350. the burden previously approved. DEPARTMENT OF THE TREASURY Type of Review: Extension of a Estimated Time Per Respondent: 14 currently approved collection. hrs., 33 min. Internal Revenue Service Estimated Total Annual Burden Affected Public: Individuals or households, business or other not-for- Hours: 5,096. Proposed Extension of Information The following paragraph applies to all profit institutions, farms, and Federal, Collection Request Submitted for state, local or tribal governments. the collections of information covered Public Comment; Comment Request by this notice: Estimated Number of Respondents: for Form 8918 4,000. An agency may not conduct or Estimated Time per Respondent: 12 AGENCY: Internal Revenue Service (IRS), sponsor, and a person is not required to min. Treasury. respond to, a collection of information Estimated Total Annual Burden ACTION: Notice and request for unless the collection of information Hours: 800. comments. displays a valid OMB control number. The following paragraph applies to all Books or records relating to a the collections of information covered SUMMARY: The Internal Revenue Service, collection of information must be by this notice: as part of its continuing effort to reduce retained if their contents may become An agency may not conduct or paperwork and respondent burden, material in the administration of any sponsor, and a person is not required to invites the public and other Federal internal revenue law. Generally, tax VerDate Sep<11>2014 17:36 Dec 03, 2018 Jkt 247001 PO 00000 Frm 00115 Fmt 4703 Sfmt 4703 E:\FR\FM\04DEN1.SGM 04DEN1

Federal Register / Vol. 83, No. 233 / Tuesday, December 4, 2018 / Notices 62675 returns and tax return information are proposed collection of information, permitting electronic submissions of confidential, as required by 26 U.S.C. including the validity of the responses. 6103. methodology and assumptions used; Desired Focus of Comments: The Comments submitted in response to • Enhance the quality, utility, and this notice will be summarized and/or Internal Revenue Service (IRS) is particularly interested in comments clarity of the information to be included in the ICR for OMB approval that: collected; and of the extension of the information • Evaluate whether the proposed • Minimize the burden of the collection; they will also become a collection of information is necessary collection of information on those who matter of public record. for the proper performance of the are to respond, including using Approved: November 27, 2018. functions of the agency, including appropriate automated, electronic, R. Joseph Durbala, whether the information will have mechanical, or other technological practical utility; IRS Tax Analyst. collection techniques or other forms of • Evaluate the accuracy of the information technology, e.g., by [FR Doc. 2018–26256 Filed 12–3–18; 8:45 am] agency’s estimate of the burden of the BILLING CODE 4830–01–P VerDate Sep<11>2014 19:26 Dec 03, 2018 Jkt 247001 PO 00000 Frm 00116 Fmt 4703 Sfmt 9990 E:\FR\FM\04DEN1.SGM 04DEN1


Document Created: 2018-12-04 00:42:58
Document Modified: 2018-12-04 00:42:58
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 February 4, 2019 to be assured of consideration.
FR Citation83 FR 62674 
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