Federal Register / Vol. 88, No. 172 / Thursday, September 7, 2023 / Notices 61669 

Authorities: E.O. 13687, 80 FR 819, 3 

CFR, 2015 Comp., p. 259. 

Dated: August 31, 2023. 

Andrea M. Gacki, 

Director, Office of Foreign Assets Control, 

U.S. Department of the Treasury. 

[FR Doc. 2023–19230 Filed 9–6–23; 8:45 am] 

BILLING CODE 4810–AL–C 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

Proposed Collection; Requesting 

Comments on Form 8838 

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 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. The IRS is soliciting 

comments concerning Form 8838, 

Consent To Extend the Time To Assess 


ddrumheller on DSK120RN23PROD with NOTICES1EN07SE23.011</GPH>
61670 Federal Register / Vol. 88, No. 172 / Thursday, September 7, 2023 / Notices 

Tax Under Section 367-Gain 

Recognition Agreement. 

DATES: Written comments should be 

received on or before November 6, 2023 

to be assured of consideration. 

ADDRESSES: Direct all written comments 

to Andres Garcia, Internal Revenue 

Service, Room 6526, 1111 Constitution 

Avenue NW, Washington, DC 20224, or 

by email to pra.comments@irs.gov. 

Include OMB Control No. 1545–1395 in 

the subject line of the message. 

FOR FURTHER INFORMATION CONTACT: 

Requests for additional information or 

copies of this collection should be 

directed to Jon Callahan, (737) 800– 

7639, at Internal Revenue Service, Room 

6526, 1111 Constitution Avenue NW, 

Washington, DC 20224, or through the 

internet at jon.r.callahan@irs.gov. 

SUPPLEMENTARY INFORMATION: 

The IRS is currently seeking 

comments concerning the following 

information collection tools, reporting, 

and record-keeping requirements: 

Title: Consent To Extend the Time To 

Assess Tax Under Section 367-Gain 

Recognition Agreement. 

OMB Number: 1545–1395. 

Form Number: Form 8838. 

Abstract: Form 8838 is used to extend 

the statute of limitations for U.S. 

persons who transfer stock or securities 

to a foreign corporation. The form is 

filed when the transferor makes a gain 

recognition agreement. This agreement 

allows the transferor to defer the 

payment of tax on the transfer. The IRS 

uses Form 8838 so that it may assess tax 

against the transferor after the 

expiration of the original statute of 

limitations. The estimates in this notice 

are for estates, trusts, and tax-exempt 

organizations filing Form 8838. 

Current Actions: There is no change to 

the existing collection. However, the 

estimated number of responses was 

reduced to eliminate duplication of 

burden estimates. The estimated burden 

for individuals filing Form 8838 is 

approved under OMB control number 

1545–0074, and the estimated burden 

for businesses filing Form 8838 is 

approved under OMB control number 

1545–0123. 

Type of Review: Extension of a 

currently approved collection. 

Affected Public: Business or other forprofit organizations. 

Estimated Number of Responses: 200. 

Estimated Time Per Respondent: 8 

hours, 14 minutes. 

Estimated Total Annual Burden 

Hours: 1,646. 

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: September 1, 2023. 

Jon R. Callahan, 

Senior Tax Analyst. 

[FR Doc. 2023–19342 Filed 9–6–23; 8:45 am] 

BILLING CODE 4830–01–P 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

Proposed Collection; Requesting 

Comments on Form 706 and Schedule 

R–1 (Form 706) 

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 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. The IRS is soliciting 

comments concerning Form 706, United 

States Estate (and Generation-Skipping 

Transfer) Tax Return, and Schedule R– 

1 (Form 706), Generation-Skipping 

Transfer Tax. 

DATES: Written comments should be 

received on or before November 6, 2023 

to be assured of consideration. 

ADDRESSES: Direct all written comments 

to Andres Garcia, Internal Revenue 

Service, Room 6526, 1111 Constitution 

Avenue NW, Washington, DC 20224, or 

by email to pra.comments@irs.gov. 

Include OMB Control No. 1545–0015 in 

the subject line of the message. 

FOR FURTHER INFORMATION CONTACT: 

Requests for additional information or 

copies of this collection should be 

directed to Jon Callahan, (737) 800– 

7639, at Internal Revenue Service, Room 

6526, 1111 Constitution Avenue NW, 

Washington, DC 20224, or through the 

internet at jon.r.callahan@irs.gov. 

SUPPLEMENTARY INFORMATION: The IRS is 

currently seeking comments concerning 

the following information collection 

tools, reporting, and record-keeping 

requirements: 

Title: United States Estate (and 

Generation-Skipping Transfer) Tax 

Return. 

OMB Number: 1545–0015. 

Form Number: Form 706, and 

Schedule R–1 (Form 706). 

Abstract: Executors use Form 706 to 

report and compute the Federal Estate 

Tax imposed by Internal Revenue Code 

(IRC) section 2001 and the Federal 

Generation Skipping Tax, imposed by 

IRC section 2601. The IRS uses the 

information to enforce these taxes and 

to verify that the tax has been properly 

computed. Schedule R–1 (Form 706) 

serves as a payment voucher for the 

Generation-Skipping Transfer (GST) tax 

imposed on a direct skip from a trust, 

which the trustee of the trust, must pay. 

Current Actions: There is no change 

to the existing collection. However, the 

estimated number of responses was 

reduced based on current filing data. 

Type of Review: Extension of a 

currently approved collection. 

Affected Public: Individuals or 

Households; and Businesses or other 

for-profit organizations. 

Estimated Number of Responses: 

14,267. 

Estimated Time Per Respondent: 36 

hours, 14 minutes. 

Estimated Total Annual Burden 

Hours: 517,090. 

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 


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