[Federal Register Volume 88, Number 208 (Monday, October 30, 2023)]
[Notices]
[Pages 74243-74245]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-23901]


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DEPARTMENT OF THE TREASURY


Agency Information Collection Activities; Submission for OMB 
Review; Comment Request; Multiple Internal Revenue Service (IRS) 
Information Collection Requests.

AGENCY: Departmental Offices, U.S. Department of the Treasury.

ACTION: Notice.

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SUMMARY: The Department of the Treasury will submit the following 
information collection requests to the

[[Page 74244]]

Office of Management and Budget (OMB) for review and clearance in 
accordance with the Paperwork Reduction Act of 1995, on or after the 
date of publication of this notice. The public is invited to submit 
comments on these requests.

DATES: Comments should be received on or before November 29, 2023 to be 
assured of consideration.

ADDRESSES: Written comments and recommendations for the proposed 
information collection should be sent within 30 days of publication of 
this notice to www.reginfo.gov/public/do/PRAMain. Find this particular 
information collection by selecting ``Currently under 30-day Review--
Open for Public Comments'' or by using the search function.

FOR FURTHER INFORMATION CONTACT: Copies of the submissions may be 
obtained from Melody Braswell by emailing <a href="/cdn-cgi/l/email-protection#dd8d8f9c9da9afb8bcaea8afa4f3bab2ab"><span class="__cf_email__" data-cfemail="7626243736020413170503040f58111900">[email protected]</span></a>, calling 
(202) 622-1035, or viewing the entire information collection request at 
www.reginfo.gov.

SUPPLEMENTARY INFORMATION: 

Internal Revenue Service (IRS)

    1. Title: Interest Income.
    OMB Number: 1545-0112.
    Form Number: 1099-INT.
    Regulation Number: TD 7873.
    Abstract: IRC section 6049 requires payers of interest of $10 or 
more to file a return showing the aggregate amount of interest paid to 
a payee. Regulations sections 1.6049-4 and 1.6049-7 require Form 1099-
INT to be used to report this information. IRC section 6041 and 
Regulations section 1.6041-1 require persons paying interest (that is 
not covered under section 6049) of $600 or more in the course of their 
trades or businesses to report that interest on Form 1099-INT. IRS uses 
Form 1099-INT to verify compliance with the reporting rules and to 
verify that the recipient has included the proper amount of interest on 
his or her income tax return.
    Current Actions: There are no changes to the paperwork burden 
previously approved by OMB.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations, 
Federal Government, individuals or households, and not-for-profit 
institutions.
    Estimated Number of Responses: 141,555,000.
    Estimated Time per Respondent: 13 minutes.
    Estimated Total Annual Burden Hours: 46,403,150.
    2. Title: Form 2032--Contract Coverage Under Title II of the Social 
Security Act.
    OMB Number: 1545-0137.
    Form Number: Form 2032.
    Abstract: U.S. citizens and resident aliens employed abroad by 
foreign affiliates of American employers are exempt from social 
security taxes. Under Internal Revenue Code section 3121(l), American 
employers may file an agreement on Form 2032 to waive this exemption 
and obtain social security coverage for U.S. citizens and resident 
aliens employed abroad by their foreign affiliates. The American 
employers can later file Form 2032 to cover additional foreign 
affiliates as an amendment to their original agreement.
    Current Actions: There is no change to the existing collection.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations, and 
individuals or households.
    Estimated Number of Responses: 26.
    Estimated Time per Respondent: 6 hours, 4 minutes.
    Estimated Total Annual Burden Hours: 158.
    3. Title: Information Return for Publicly Offered Original Issue 
Discount Instruments.
    OMB Number: 1545-0887.
    Form Number: 8281.
    Abstract: Internal Code section 1275(c)(2) requires the furnishing 
of certain information to the IRS by issuers of publicly offered debt 
instruments having original issue discount. Regulations section 1.1275-
3 prescribes that Form 8281 shall be used for this purpose. The 
information on Form 8281 is used to update Publication 1212, List of 
Original Issue Discount Instruments.
    Current Actions: There are no changes to burden.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents: 2,500.
    Estimated Time per Response: 6 hours, 7 minutes.
    Estimated Total Annual Burden Hours: 15,300 hours.
    Title: Application for Extension of Time to File Information 
Returns.
    4. OMB Number: 1545-1081.
    Regulatory Number: TD 9838.
    Form Number: 8809.
    Abstract: Form 8809 is used to request an extension of time to file 
Forms W-2, W-2G, 1042-S, 1094-C, 1095, 1097, 1098, 1099, 3921, 3922, 
5498, or 8027. The IRS reviews the information contained on the form to 
determine whether an extension should be granted.
    Current Actions: There is no change to the form. However, the 
filing estimates have been updated. This will result in a total 
estimated burden increase of 3,656,464 hours. We are making this 
submission to renew the OMB approval.
    Type of Review: Revision of a currently approved collection.
    Affected Public: Business or other for-profit organizations, 
individuals, not-for-profit institutions, farms, and Federal, State, 
local or Tribal governments.
    Estimated Number of Respondents: 821,406.
    Estimated Time per Respondent: 4 hrs., 44 min.
    Estimated Total Annual Burden Hours: 3,893,465.
    5. Title: Residence of Trusts and Estates--7701.
    OMB Number: 1545-1600.
    Regulation Project Number: TD 8813.
    Abstract: This regulation provides the procedures and requirements 
for making the election to remain a domestic trust in accordance with 
section 1161 of the Taxpayer Relief Act of 1997. The information 
submitted by taxpayers will be used by the IRS to determine if a trust 
is a domestic trust or a foreign trust.
    Current Actions: There is no change to this existing regulation.
    Type of Review: Extension of the currently approved collection.
    Affected Public: Individuals or households.
    Estimated Number of Respondents: 222.
    Estimated Time per Respondent: 31 minutes.
    Estimated Total Annual Burden Hours: 114.
    6. Title: Escrow Funds and Other Similar Funds.
    OMB Number: 1545-1631.
    Regulation Project Number: TD 9249.
    Abstract: This document contains final regulations relating to the 
taxation and reporting of income earned on qualified settlement funds 
and certain other escrow accounts, trusts, and funds, and other related 
rules. The final regulations affect qualified settlement funds, escrow 
accounts established in connection with sales of property, disputed 
ownership funds, and the parties to these escrow accounts, trusts, and 
funds.
    Current Actions: There are no changes to the paperwork burden 
previously approved by OMB.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals or households, business or other for-
profit organizations, not-for-profit institutions and Federal, state, 
local or tribal governments.

[[Page 74245]]

    Estimated Number of Respondents: 9,300.
    Estimated Time per Respondent: 24 minutes.
    Estimated Total Annual Burden Hours: 3,720.
    7. Title: Constructive Transfers and Transfers of Property to a 
Third Party on Behalf of a Spouse.
    OMB Number: 1545-1751.
    Regulatory Number: TD 9035.
    Abstract: Treasury Regulations section 1.1041-2 sets forth the 
required information that will permit spouses or former spouses to 
treat a redemption by a corporation of stock of one spouse or former 
spouse as a transfer of that stock to the other spouse or former spouse 
in exchange for the redemption proceeds and a redemption of the stock 
from the latter spouse or a former spouse in exchange for the 
redemption proceeds.
    Current Actions: There is no change to the existing collection.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals or households.
    Estimated Number of Responses: 1,000.
    Estimated Time per Respondent: 30 minutes.
    Estimated Total Annual Burden Hours: 500.
    8. Title: Notice of Qualified Equity Investment for New Markets 
Credit.
    OMB Number: 1545-2065.
    Form Number: 8874-A.
    Abstract: CDEs must provide notice to any taxpayer who acquires a 
qualified equity investment in the CDE at its original issue that the 
equity investment is a qualified equity investment entitling the 
taxpayer to claim the new markets credit. Form 8874-A is used to make 
the notification as required under section 1.45D-1(g)(2)(i)(A).
    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: Individual or households, Business or other for-
profit.
    Estimated Number of Respondents: 500.
    Estimated Time Per respondent: 5 hours and 26 minutes.
    Estimated Total Annual Burden Hours: 2,715.
    9. Title: Notice of Recapture Event for New Markets Credit.
    OMB Number: 1545-2066.
    Form Number: 8874-B.
    Abstract: Community Development Entities (CDEs) must provide 
notification to any taxpayer holder of a qualified equity investment 
(including prior holders) that a recapture event has occurred. This 
form is used to make the notification as required under Regulations 
section 1.45D-1(g)(2)(i)(B).
    Current Actions: There are no changes to burden.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individual or households, Business or other for-
profit.
    Estimated Number of Respondents: 500.
    Estimated Time per Response: 5 hours, 30 minutes.
    Estimated Total Annual Burden Hours: 2,755 hours.
    10. Title: Credit for Carbon Dioxide Sequestration under Section 
45Q.
    OMB Number: 1545-2153.
    Form Project Number: Notice 2009-83.
    Abstract: The notice sets forth interim guidance, pending the 
issuance of regulations, relating to the credit for carbon dioxide 
sequestration (CO2 sequestration credit) under Sec.  45Q of the 
Internal Revenue Code.
    Current Actions: There is no change in the burden previously 
approved by OMB.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Responses: 30.
    Estimated Time per Respondent: 6 hours.
    Estimated Total Annual Burden Hours: 180.
    11. Title: Relief for Certain Spouses of Military Personnel.
    OMB Number: 1545-2169.
    Document Number(s): TD 9194, 9391 and Notices: 2010-30, 2011-16, 
and 2012-41.
    Abstract: The Military Spouses Residency Relief Act (``MSRRA'') was 
signed into law on November 11, 2009 (Pub. L. 111-97). MSRRA applies to 
the 2009 and subsequent tax years. This collection provides guidance to 
taxpayers who claim the benefits of the tax provisions under MSRRA for 
the 2009 and subsequent tax years. These documents provide civilian 
spouses working in a U.S. territory but claiming a tax residence in one 
of the 50 States or the District of Columbia (``U.S. mainland'') under 
MSRRA with an extension of time for paying the tax due the Internal 
Revenue Service (``IRS'') (Internal Revenue Code Sec.  6161). 
Additionally, these documents provide civilian spouses working on the 
U.S. mainland but claiming a tax residence in a U.S. territory under 
MSRRA with guidance on filing claims for refund of federal income taxes 
that their employers withheld and remitted to the IRS or estimated tax 
payments the taxpayers paid to the IRS.
    Current Actions: There is no change to the burden previously 
approved by OMB. This form is being submitted for renewal purposes 
only.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals or households.
    Estimated Number of Respondents: 6,200.
    Estimated Time per Respondent: 1 hr.
    Estimated Total Annual Burden Hours: 6,200.
    Authority:44 U.S.C. 3501 et seq.

Melody Braswell,
Treasury PRA Clearance Officer.
[FR Doc. 2023-23901 Filed 10-27-23; 8:45 am]
BILLING CODE 4830-01-P


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