Federal Register / Vol. 83, No. 176 / Tuesday, September 11, 2018 / Notices 46017 

SUMMARY: The Internal Revenue Service 

(IRS), 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 information 

collections, as required by the 

Paperwork Reduction Act of 1995. The 

IRS is soliciting comments concerning 

Request for Discharge From Personal 

Liability Under Internal Revenue Code 

Section 2204 or 6905. 

DATES: Written comments should be 

received on or before November 13, 

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 Martha R. Brinson, 

at (202)317–5753, or at Internal Revenue 

Service, Room 6526, 1111 Constitution 

Avenue NW, Washington, DC 20224, or 

through the internet at 

Martha.R.Brinson@irs.gov. 

SUPPLEMENTARY INFORMATION: 

Title: Request for Discharge From 

Personal Liability Under Internal 

Revenue Code Section 2204 or 6905. 

OMB Number: 1545–0432. 

Form Number: 5495. 

Abstract: Form 5495 provides 

guidance under sections 2204 and 6905 

for executors of estates and fiduciaries 

of decedent’s trusts. The form, filed after 

regular filing of an Estate, Gift, or 

Income tax return for a decedent, is 

used by the executor or fiduciary to 

request discharge from personal liability 

for any deficiency for the tax and 

periods shown on the form. 

Current Actions: There are no changes 

being made to Form 5495 at this time. 

Type of Review: Extension of a 

currently approved collection. 

Affected Public: Individuals or 

Households. 

Estimated Number of Responses: 

25,000. 

Estimated Time per Response: 12 

hours, 16 minutes. 

Estimated Total Annual Burden 

Hours: 306,500. 

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. Comments 

will be 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 has 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 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: August 28, 2018. 

Laurie Brimmer, 

Senior Tax Analyst. 

[FR Doc. 2018–19620 Filed 9–10–18; 8:45 am] 

BILLING CODE 4830–01–P 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

Proposed Allowance of Information 

Collection Request Submitted for 

Public Comment; Information 

Reporting for Certain Life Insurance 

Contract 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 

information reporting for certain life 

insurance contract transactions. 

DATES: Written comments should be 

received on or before November 13, 

2018 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 

RJoseph.Durbala@irs.gov. 

SUPPLEMENTARY INFORMATION: 

Title: Information Reporting for 

Certain Life Insurance Contract 

Transactions. 

OMB Number: 1545—New. 

Regulation Project Number: Notice 

2018–41, Form 1099–LS, Form 1099– 

SB. 

Abstract: The collection covers the 

new information reporting requirements 

for certain life insurance contracts 

under new IRC 6050Y, which were 

added by the Tax Cuts and Jobs Act 

(TCJA). 

The new reporting requirements 

apply to reportable death benefits paid 

and reportable policy sales made after 

Dec. 31, 2017. On April 26, 2018, the 

Internal Revenue Service provided 

transitional guidance delaying any 

reporting under IRC 6050Y until final 

regulations are issued. The transitional 

guidance provides taxpayers additional 

time to satisfy any reporting obligations 

arising prior to publication of final 

regulations. 

Current Actions: The IRS described 

the new information reporting 

requirements for certain life insurance 

contracts under new IRC 6050Y, which 

were added by the Tax Cuts and Jobs 

Act. The new reporting requirements 

apply to reportable death benefits paid 

and reportable policy sales made after 

Dec. 31, 2017. As part of the guidance, 

however, the IRS provided transitional 

guidance delaying any reporting under 

IRC 6050Y until final regulations are 

issued. 

This submission is being made to seek 

new approval as required in the 

Paperwork Reduction Act. 

Type of Review: New collection. 

Affected Public: Individuals or 

Households, Business or other for profit, 

Not for profit institutions. 

Estimated Number of Respondents: 

6,000. 

Estimated Time per Respondent: 7 

min. 

Estimated Total Annual Burden 

Hours: 720. 

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 


daltland on DSKBBV9HB2PROD with NOTICES
46018 Federal Register / Vol. 83, No. 176 / Tuesday, September 11, 2018 / Notices 

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: September 4, 2018. 

R. Joseph Durbala, 

IRS, Tax Analyst. 

[FR Doc. 2018–19619 Filed 9–10–18; 8:45 am] 

BILLING CODE 4830–01–P 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

Proposed Allowance of Information 

Collection Request Submitted for 

Public Comment; Transitional 

Guidance Under Sections 162(f) and 

6050X With Respect to Certain Fines, 

Penalties, and Other Amounts 

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 

transitional guidance under sections 

162(f) and 6050X with respect to certain 

fines, penalties, and other amounts. 

DATES: Written comments should be 

received on or before November 13, 

2018 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 

RJoseph.Durbala@irs.gov. 

SUPPLEMENTARY INFORMATION: 

Title: Transitional Guidance Under 

Sections 162(f) and 6050X with Respect 

to Certain Fines, Penalties, and Other 

Amounts. 

OMB Number: 1545—New. 

Regulation Project Number: Notice 

2018–23, Form 1098–F. 

Abstract: The collection covers the 

new information reporting requirements 

under IRC 162(f) and new 6050X, which 

was added by the Tax Cuts and Jobs Act 

(TCJA). 

Section 13306 of ‘‘An Act to provide 

for reconciliation pursuant to titles II 

and V of the concurrent resolution on 

the budget for fiscal year 2018,’’ Public 

Law 115–97 (the ‘‘Act’’), which was 

signed into law on December 22, 2017, 

amended section 162(f) of the Internal 

Revenue Code (‘‘Code’’) and added new 

section 6050X to the Code. The 

Department of the Treasury (‘‘Treasury 

Department’’) and the Internal Revenue 

Service (‘‘IRS’’) intend to publish 

proposed regulations under sections 

162(f) and 6050X. 

Current Actions: The Treasury 

Department and the IRS intend to issue 

proposed regulations amending and 

adding sections to the Income Tax 

Regulations with respect to sections 

162(f) and 6050X. To assist in the 

development of the proposed 

regulations, the IRS has requests 

comments from the public and affected 

governments and nongovernmental 

entities, on any and all issues related to 

the application and implementation of 

sections 162(f) and 6050X that the 

proposed regulations should address. 

This submission is being made to seek 

new approval as required in the 

Paperwork Reduction Act. 

Type of Review: New collection. 

Affected Public: Federal government, 

State, Local, or Tribal Government. 

Estimated Number of Respondents: 

200. 

Estimated Time per Respondent: 7 

min. 

Estimated Total Annual Burden 

Hours: 24. 

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: September 4, 2018. 

R. Joseph Durbala, 

IRS, Tax Analyst. 

[FR Doc. 2018–19621 Filed 9–10–18; 8:45 am] 

BILLING CODE 4830–01–P 


daltland on DSKBBV9HB2PROD with NOTICES