[Federal Register Volume 89, Number 213 (Monday, November 4, 2024)]
[Notices]
[Pages 87725-87726]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-25606]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Form 8725 and TD 8379

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

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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 Form 8725--Excise 
Tax on Greenmail and TD 8379.

DATES: Written comments should be received on or before January 3, 2025 
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 <a href="/cdn-cgi/l/email-protection#e7979586c984888a8a82899394a78e9594c9808891"><span class="__cf_email__" data-cfemail="572725367934383a3a32392324173e252479303821">[email protected]</span></a>. Include OMB Control No. 
1545-1049 in the subject line of the message.

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, Internal Revenue Service, Room 6526, 1111 
Constitution Avenue NW, Washington, DC 20224, or through the internet 
at <a href="/cdn-cgi/l/email-protection#533f323d3a27327d25323d372a3836133a21207d343c25"><span class="__cf_email__" data-cfemail="076b66696e736629716669637e6c62476e757429606871">[email protected]</span></a>.

SUPPLEMENTARY INFORMATION: 
    Title: Excise Tax on Greenmail.
    OMB Number: 1545-1049.
    Regulation Project Number: TD 8379.

[[Page 87726]]

    Form Number: 8725.
    Abstract: Treasury Decision (TD) 8379 provide rules relating to the 
manner and method of reporting and paying the nondeductible 50 percent 
excise tax imposed by section 5881 of the Internal Revenue Code with 
respect to the receipt of greenmail. The reporting requirements will be 
used to verify that the excise tax imposed under section 5881 is 
properly reported and timely paid. Form 8725 is used by persons who 
receive ``greenmail'' to compute and pay the excise tax on greenmail 
imposed under Internal Revenue Code section 5881. IRS uses the 
information to verify that the correct amount of tax has been reported.
    Current Actions: There is no change to these existing collection 
requirements.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals and business or other for-profit 
organizations.
    Estimated Number of Responses: 12.
    Estimated Time per Response: 7 hours, 37 minutes.
    Estimated Total Annual Burden Hours: 92.
    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: October 30, 2024.
Molly J. Stasko,
Senior Tax Analyst.
[FR Doc. 2024-25606 Filed 11-1-24; 8:45 am]
BILLING CODE 4830-01-P


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