83 FR 62954 - Proposed Collection; Comment Request for Form 6252

DEPARTMENT OF THE TREASURY
Internal Revenue Service

Federal Register Volume 83, Issue 234 (December 6, 2018)

Page Range		62954-62955
FR Document		2018-26472

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. Currently, the IRS is soliciting comments concerning Form 6252, Installment Sale Income.

Federal Register, Volume 83 Issue 234 (Thursday, December 6, 2018)

[Federal Register Volume 83, Number 234 (Thursday, December 6, 2018)]
[Notices]
[Pages 62954-62955]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-26472]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Form 6252

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. Currently, the IRS is soliciting 
comments concerning Form 6252, Installment Sale Income.

DATES: Written comments should be received on or before February 4, 
2019 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 LaNita Van 
Dyke, at (202) 317-6009, at Internal Revenue Service, Room 6526, 1111 
Constitution Avenue NW, Washington, DC 20224, or

[[Page 62955]]

through the internet at [email protected].

SUPPLEMENTARY INFORMATION: 
    Title: Installment Sale Income.
    OMB Number: 1545-0228.
    Form Number: 6252.
    Abstract: Internal Revenue Code section 453 provides that if real 
or personal property is disposed of at a gain and at least one payment 
is to be received in a tax year after the year of sale, the income is 
to be reported in installments, as payment is received. Form 6252 
provides for the computation of income to be reported in the year of 
sale and in years after the year of sale. It also provides for the 
computation of installment sales between certain related parties 
required by Code section 453(e).
    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: Business of other for-profit organizations, 
individuals or households, and farms.
    Estimated Number of Respondents: 521,898.
    Estimated Time per Respondent: 3 hrs., 4 minutes.
    Estimated Total Annual Burden Hours: 1,597,008.
    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: November 26, 2018.
Laurie Brimmer,
Senior Tax Analyst.
[FR Doc. 2018-26472 Filed 12-4-18; 8:45 am]
 BILLING CODE 4830-01-P

62954 Federal Register / Vol. 83, No. 234 / Thursday, December 6, 2018 / Notices

information collection can be located by regulatory agency 3 of those financial approval. All comments will become a
searching by OMB control number companies to issue regulations matter of public record. Comments are
‘‘1557–0311’’ or ‘‘Annual Stress Test implementing the stress test invited on:
Rule.’’ Upon finding the appropriate requirements.4 (a) Whether the collection of
information collection, click on the Twelve CFR 46.6(a) specifies the information is necessary for the proper
related ‘‘ICR Reference Number.’’ On the calculations of the potential impact on performance of the functions of the
next screen, select ‘‘View Supporting capital that must be made during each OCC, including whether the information
Statement and Other Documents’’ and quarter of a planning horizon. Section has practical utility;
then click on the link to any comment 46.6(c)(1) requires the senior (b) The accuracy of the OCC’s
listed at the bottom of the screen. management of each covered institution estimate of the burden of the collection
• For assistance in navigating to establish and maintain a system of of information;
www.reginfo.gov, please contact the controls, oversight, and documentation, (c) Ways to enhance the quality,
Regulatory Information Service Center including policies and procedures that, utility, and clarity of the information to
at (202) 482–7340. at a minimum, describe the covered be collected;
• Viewing Comments Personally: You institution’s stress test practices and (d) Ways to minimize the burden of
may personally inspect comments at the methodologies and processes for the collection on respondents, including
OCC, 400 7th Street SW, Washington, updating the covered institution’s stress through the use of automated collection
DC. For security reasons, the OCC test practices. Section 46.6(c)(2) techniques or other forms of information
requires that visitors make an provides that the board of directors of technology; and
appointment to inspect comments. You the covered institution shall approve (e) Estimates of capital or start-up
may do so by calling (202) 649–6700 or, and review these policies and costs and costs of operation,
for persons who are deaf or hearing procedures no less than annually and maintenance, and purchase of services
impaired, TTY, (202) 649–5597. Upon provide the board of directors and to provide information.
arrival, visitors will be required to senior management with a summary of Dated: November 29, 2018.
present valid government-issued photo the stress test results. Theodore J. Dowd,
identification and submit to security Section 46.7 provides that each Deputy Chief Counsel, Office of the
screening in order to inspect comments. covered institution shall report to the Comptroller of the Currency.
FOR FURTHER INFORMATION CONTACT: OCC and to the Board of Governors of [FR Doc. 2018–26382 Filed 12–4–18; 8:45 am]
Shaquita Merritt, Clearance Officer, the Federal Reserve System annually the BILLING CODE 4810–33–P
(202) 649–5490 or, for persons who are results of the stress test in the time,
deaf or hearing impaired, TTY, (202) manner and form specified by the OCC.
649–5597, Chief Counsel’s Office, Office Section 46.8 requires that a covered DEPARTMENT OF THE TREASURY
of the Comptroller of the Currency, 400 institution publish a summary of the
7th St. SW, Washington, DC 20219. results of its annual stress tests on its Internal Revenue Service
SUPPLEMENTARY INFORMATION: Under the website or in any other forum that is
Paperwork Reduction Act (PRA) (44 reasonably accessible to the public. The Proposed Collection; Comment
U.S.C. 3501–3520), federal agencies summary must include a description of Request for Form 6252
must obtain approval from the OMB for the types of risks included in the stress AGENCY: Internal Revenue Service (IRS),
each collection of information that they test, a summary description of the Treasury.
conduct or sponsor. ‘‘Collection of methodologies used in the stress test,
ACTION: Notice and request for
information’’ is defined in 44 U.S.C. estimates of aggregate losses, pre-
comments.
3502(3) and 5 CFR 1320.3(c) to include provision net revenue, provisions for
agency requests or requirements that loan and lease losses, net income, and SUMMARY: The Internal Revenue Service,
members of the public submit reports, pro forma capital ratios and an as part of its continuing effort to reduce
keep records, or provide information to explanation of the most significant paperwork and respondent burden,
a third party. Section 3506(c)(2)(A) of causes of the changes in regulatory invites the general public and other
title 44 requires federal agencies to capital ratios. The summary also must Federal agencies to take this
provide a 60-day notice in the Federal reflect, for estimates of aggregate losses, opportunity to comment on proposed
Register concerning each proposed pre-provision net revenue, provisions and/or continuing information
collection of information, including for loan and lease losses, the estimated collections, as required by the
each proposed extension of an existing cumulative effects and estimated capital Paperwork Reduction Act of 1995.
collection of information, before ratios, net income, and pro forma capital Currently, the IRS is soliciting
submitting the collection to OMB for ratios (including regulatory and any comments concerning Form 6252,
approval. To comply with this other capital ratios specified by the Installment Sale Income.
requirement, the OCC is publishing OCC) at the end of the planning horizon, DATES: Written comments should be
notice of the renewal of the collection under the severely adverse scenario. received on or before February 4, 2019
of information set forth in this Type of Review: Regular. to be assured of consideration.
document. Affected Public: Businesses or other
ADDRESSES: Direct all written comments
Title: Annual Stress Test Rule. for-profit.
OMB Control No.: 1557–0311. Estimated Number of Respondents: to Laurie Brimmer, Internal Revenue
Description: Section 165(i)(2) of the 61. Service, Room 6526, 1111 Constitution
Avenue NW, Washington, DC 20224.
khammond on DSK30JT082PROD with NOTICES

Dodd-Frank Wall Street Reform and Estimated Total Annual Burden:
Consumer Protection Act requires 63,440 hours. FOR FURTHER INFORMATION CONTACT:
certain financial companies, including Comments submitted in response to Requests for additional information or
national banks and federal savings this notice will be summarized and copies of the form and instructions
associations, to conduct annual stress included in the request for OMB should be directed to LaNita Van Dyke,
tests 2 and requires the primary financial at (202) 317–6009, at Internal Revenue
3 12 U.S.C. 5301(12). Service, Room 6526, 1111 Constitution
2 12 U.S.C. 5365(i)(2)(A). 4 12 U.S.C. 5365(i)(2)(C). Avenue NW, Washington, DC 20224, or

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Federal Register / Vol. 83, No. 234 / Thursday, December 6, 2018 / Notices 62955

through the internet at technology; and (e) estimates of capital Type of Review: Extension of a
Lanita.VanDyke@irs.gov. or start-up costs and costs of operation, currently approved collection.
SUPPLEMENTARY INFORMATION: maintenance, and purchase of services Affected Public: Individuals or
Title: Installment Sale Income. to provide information. households, Business or other for-profit
OMB Number: 1545–0228. Approved: November 26, 2018. organizations, non-profit institutions,
Form Number: 6252. Laurie Brimmer, farms, Federal Government, State, local
Abstract: Internal Revenue Code Senior Tax Analyst.
or tribal governments.
section 453 provides that if real or Estimated Number of Respondents:
[FR Doc. 2018–26472 Filed 12–4–18; 8:45 am]
personal property is disposed of at a 250.
BILLING CODE 4830–01–P
gain and at least one payment is to be Estimated Time per Response: 15
received in a tax year after the year of minutes.
sale, the income is to be reported in DEPARTMENT OF THE TREASURY Estimated Total Annual Burden
installments, as payment is received. Hours: 62.
Form 6252 provides for the computation Internal Revenue Service The following paragraph applies to all
of income to be reported in the year of of the collections of information covered
sale and in years after the year of sale. Proposed Collection; Comment by this notice:
It also provides for the computation of Request for Form 13285–A An agency may not conduct or
installment sales between certain sponsor, and a person is not required to
AGENCY: Internal Revenue Service (IRS),
related parties required by Code section respond to, a collection of information
Treasury.
453(e). unless the collection of information
Current Actions: There are no changes ACTION: Notice and request for
displays a valid OMB control number.
being made to the form at this time. comments.
Books or records relating to a collection
Type of Review: Extension of a SUMMARY: The Internal Revenue Service, of information must be retained as long
currently approved collection. as part of its continuing effort to reduce as their contents may become material
Affected Public: Business of other for- paperwork and respondent burden, in the administration of any internal
profit organizations, individuals or invites the general public and other revenue law. Generally, tax returns and
households, and farms. Federal agencies to take this tax return information are confidential,
Estimated Number of Respondents: opportunity to comment on proposed as required by 26 U.S.C. 6103.
521,898. and/or continuing information Request For Comments: Comments
Estimated Time per Respondent: 3 collections, as required by the submitted in response to this notice will
hrs., 4 minutes. Paperwork Reduction Act of 1995. be summarized and/or included in the
Estimated Total Annual Burden Currently, the IRS is soliciting request for OMB approval. All
Hours: 1,597,008. comments concerning Form 13285–A, comments will become a matter of
The following paragraph applies to all Reducing Tax Burden on America’s public record. Comments are invited on:
of the collections of information covered Taxpayers. (a) Whether the collection of
by this notice: information is necessary for the proper
An agency may not conduct or DATES: Written comments should be
performance of the functions of the
sponsor, and a person is not required to received on or before February 4, 2019
agency, including whether the
respond to, a collection of information to be assured of consideration.
information shall have practical utility;
unless the collection of information ADDRESSES: Direct all written comments (b) the accuracy of the agency’s estimate
displays a valid OMB control number. to Laurie Brimmer, Internal Revenue of the burden of the collection of
Books or records relating to a collection Service, Room 6526, 1111 Constitution information; (c) ways to enhance the
of information must be retained as long Avenue NW, Washington, DC 20224. quality, utility, and clarity of the
as their contents may become material FOR FURTHER INFORMATION CONTACT: information to be collected; (d) ways to
in the administration of any internal Requests for additional information or minimize the burden of the collection of
revenue law. Generally, tax returns and copies of the form and instructions information on respondents, including
tax return information are confidential, should be directed to LaNita Van Dyke, through the use of automated collection
as required by 26 U.S.C. 6103. at (202) 317–6009, at Internal Revenue techniques or other forms of information
Request for Comments: Comments Service, Room 6526, 1111 Constitution technology; and (e) estimates of capital
submitted in response to this notice will Avenue NW, Washington, DC 20224, or or start-up costs and costs of operation,
be summarized and/or included in the through the internet at maintenance, and purchase of services
request for OMB approval. All Lanita.VanDyke@irs.gov. to provide information.
comments will become a matter of SUPPLEMENTARY INFORMATION: Approved: November 27, 2018.
public record. Comments are invited on: Title: Reducing Tax Burden on
(a) Whether the collection of Laurie Brimmer,
America’s Taxpayers.
information is necessary for the proper OMB Number: 1545–2009. Senior Tax Analyst.
performance of the functions of the Form Number: 13285–A. [FR Doc. 2018–26468 Filed 12–4–18; 8:45 am]
agency, including whether the Abstract: The IRS Office of Taxpayer BILLING CODE 4830–01–P
information shall have practical utility; Burden Reduction (TBR) needs the
(b) the accuracy of the agency’s estimate taxpaying public’s help to identify
of the burden of the collection of meaningful taxpayer burden reduction DEPARTMENT OF THE TREASURY
khammond on DSK30JT082PROD with NOTICES

information; (c) ways to enhance the opportunities that impact a large
quality, utility, and clarity of the Internal Revenue Service
number of taxpayers. This form should
information to be collected; (d) ways to be used to refer ideas for reducing Proposed Collection; Comment
minimize the burden of the collection of taxpayer burden to the TBR for Request for Regulation Project
information on respondents, including consideration and implementation.
through the use of automated collection Current Actions: There are no changes AGENCY: Internal Revenue Service (IRS),
techniques or other forms of information being made to the form at this time. Treasury.

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Document Created: 2018-12-05 02:36:29
Document Modified: 2018-12-05 02:36:29

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 February 4, 2019 to be assured of consideration.
Contact		Requests for additional information or copies of the form and instructions should be directed to LaNita Van Dyke, at (202) 317-6009, at Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC 20224, or through the internet at [email protected]
FR Citation		83 FR 62954

83 FR 62954 - Proposed Collection; Comment Request for Form 6252

DEPARTMENT OF THE TREASURYInternal Revenue Service

Federal Register Volume 83, Issue 234 (December 6, 2018)

DEPARTMENT OF THE TREASURY
Internal Revenue Service