28490 Federal Register / Vol. 83, No. 118 / Tuesday, June 19, 2018 / Notices 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

Proposed Extension of Information 

Collection Request Submitted for 

Public Comment; Form 712, Life 

Insurance Statement 

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 Form 

712, Life Insurance Statement. 

DATES: Written comments should be 

received on or before August 20, 2018 

to be assured of consideration. 

ADDRESSES: Direct all written comments 

to Roberto Mora-Figueroa, Internal 

Revenue Service, Room 6129, 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 RJoseph.Durbala@irs.gov. 

SUPPLEMENTARY INFORMATION: 

Title: Life Insurance Statement. 

OMB Number: 1545–0022. 

Regulation Project Number: Form 712. 

Abstract: Form 712 provides 

taxpayers and the IRS with information 

to determine if insurance on the 

decedent’s life is includible in the gross 

estate and to determine the value of the 

policy for estate and gift tax purposes. 

The tax is based on the value of the life 

insurance policy. 

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 forprofit organizations. 

Estimated Number of Respondents: 

60,000. 

Estimated Time per Respondent: 18 

hrs., 40 min. 

Estimated Total Annual Burden 

Hours: 1,120,200. 

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: June 13, 2018. 

R. Joseph Durbala, 

IRS Tax Analyst. 

[FR Doc. 2018–13079 Filed 6–18–18; 8:45 am] 

BILLING CODE 4830–01–P 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

Proposed Extension of Information 

Collection Request Submitted for 

Public Comment; Hedging 

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 the 

guidance for taxpayers regarding when 

gain or loss from common business 

hedging transactions is considered for 

tax purposes. 

DATES: Written comments should be 

received on or before August 20, 2018 

to be assured of consideration. 

ADDRESSES: Direct all written comments 

to Roberto Mora-Figueroa, Internal 

Revenue Service, Room 6129, 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 RJoseph.Durbala@irs.gov. 

SUPPLEMENTARY INFORMATION: 

Title: Clear Reflection of Income in 

the Case of Hedging Transactions. 

OMB Number: 1545–1412. 

Regulation Project Number: TD 8554. 

Abstract: These final regulations 

provide guidance to taxpayers regarding 

when gain or loss from common 

business hedging transactions is 

recognized for tax purposes. Paragraph 

(d) of § 1.446–4 requires that the books 

and records maintained by a taxpayer 

disclose the method or methods used to 

account for different types of hedging 

transactions. The purpose of this rule is 

to ensure that the taxpayer has such 

records as are necessary to allow a 

Service examiner to determine whether 

the method of accounting used by the 

taxpayer for a transaction clearly reflects 

income. 

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 forprofit organizations. 

Estimated Number of Respondents: 

100,000. 

Estimated Time per Respondent: 12 

min. 

Estimated Total Annual Burden 

Hours: 20,000. 

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 


daltland on DSKBBV9HB2PROD with NOTICES
Federal Register / Vol. 83, No. 118 / Tuesday, June 19, 2018 / Notices 28491 

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: June 13, 2018. 

R. Joseph Durbala, 

IRS Tax Analyst. 

[FR Doc. 2018–13076 Filed 6–18–18; 8:45 am] 

BILLING CODE 4830–01–P 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

Proposed Collection; Comment 

Request for Form 8881 

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 8881, Credit for Small Employer 

Pension Plan Startup Costs. 

DATES: Written comments should be 

received on or before August 20, 2018 

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 Sara Covington, at 

(202) 317–6038, Internal Revenue 

Service, Room 6526, 1111 Constitution 

Avenue NW, Washington, DC 20224, or 

through the internet, at 

Sara.L.Covington@irs.gov. 

SUPPLEMENTARY INFORMATION: 

Title: Credit for Small Employer 

Pension Plan Startup Costs. 

OMB Number: 1545–1810. 

Form Number: 8881. 

Abstract: Qualified small employers 

use Form 8881 to claim a credit for start 

up costs related to eligible retirement 

plans. Form 8881 implements section 

45E, which provides a credit based on 

costs incurred by an employer in 

establishing or administering an eligible 

employer plan or for the retirementrelated education of employees with 

respect to the plan. The credit is 50% 

of the qualified costs for the tax year, up 

to a maximum credit of $500 for the first 

tax year and each of the two subsequent 

tax years. 

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 or other forprofit organizations. 

Estimated Number of Respondents: 

66,667. 

Estimated Time per Respondent: 3 

hours, 32 minutes. 

Estimated Total Annual Burden 

Hours: 235,335. 

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: June 12, 2018. 

Laurie Brimmer, 

Senior Tax Analyst. 

[FR Doc. 2018–13073 Filed 6–18–18; 8:45 am] 

BILLING CODE 4830–01–P 

DEPARTMENT OF VETERANS 

AFFAIRS 

Privacy Act of 1974; Matching Program 

AGENCY: Department of Veterans Affairs 

(VA). 

ACTION: Notice of a new matching 

program. 

SUMMARY: Pursuant to the Privacy Act of 

1974, as amended, and the Office of 

Management and Budget (OMB) 

Guidelines on the Conduct of Matching 

Programs, notice is hereby given that the 

Department of Veterans Affairs (VA) 

intends to conduct a computer matching 

program with the Internal Revenue 

Service (IRS). Data from the proposed 

match will be used to verify the 

unearned income of nonserviceconnected veterans, and those veterans 

who are zero percent service-connected 

(noncompensable), whose eligibility for 

VA medical care is based on their 

inability to defray the cost of medical 

care. These veterans supply household 

income information that includes their 

spouses and dependents at the time of 

application for VA health care benefits. 

DATES: Comments on this matching 

program must be received no later than 

July 19, 2018. If no public comment is 

received during the period allowed for 

comment or unless otherwise published 

in the Federal Register by VA, the new 

agreement will become effective July 1, 

2018, provided it is a minimum of 30 

days after date of publication in the 

Federal Register. If VA receives public 

comments, VA shall review the 

comments to determine whether any 


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