36188 Federal Register / Vol. 86, No. 128 / Thursday, July 8, 2021 / Notices 

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 30, 2021. 

Sara L. Covington, 

IRS Tax Analyst. 

[FR Doc. 2021–14552 Filed 7–7–21; 8:45 am] 

BILLING CODE 4830–01–P 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

Open Meeting of the Taxpayer 

Advocacy Panel’s Toll-Free Phone 

Lines Project Committee 

AGENCY: Internal Revenue Service (IRS), 

Treasury. 

ACTION: Notice of meeting. 

SUMMARY: An open meeting of the 

Taxpayer Advocacy Panel’s Toll-Free 

Phone Lines Project Committee will be 

conducted. The Taxpayer Advocacy 

Panel is soliciting public comments, 

ideas, and suggestions on improving 

customer service at the Internal Revenue 

Service. 

DATES: The meeting will be held 

Tuesday, August 10, 2021. 

FOR FURTHER INFORMATION CONTACT: 

Rosalind Matherne at 1–888–912–1227 

or 202–317–4115. 

SUPPLEMENTARY INFORMATION: Notice is 

hereby given pursuant to Section 

10(a)(2) of the Federal Advisory 

Committee Act, 5 U.S.C. App. (1988) 

that an open meeting of the Taxpayer 

Advocacy Panel Toll-Free Phone Lines 

Project Committee will be held Tuesday, 

August 10, 2021 at 11:00 a.m. Eastern 

Time. The public is invited to make oral 

comments or submit written statements 

for consideration. Due to limited time 

and structure of meeting, notification of 

intent to participate must be made with 

Rosalind Matherne. For more 

information please contact Rosalind 

Matherne at 1–888–912–1227 or 202– 

317–4115, or write TAP Office, 1111 

Constitution Ave. NW, Room 1509, 

Washington, DC 20224 or contact us at 

the website: http://www.improveirs.org. 

The agenda will include various IRS 

issues. 

Dated: July 1, 2021. 

Kevin Brown, 

Acting Director, Taxpayer Advocacy Panel. 

[FR Doc. 2021–14507 Filed 7–7–21; 8:45 am] 

BILLING CODE 4830–01–P 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

Proposed Collection; Requesting 

Comments on Form 8865 

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 continuing 

information collections, as required by 

the Paperwork Reduction Act of 1995. 

The IRS is soliciting comments 

concerning Form 8865, Return of U.S. 

Persons with Respect to Certain Foreign 

Partnerships. 

DATES: Written comments should be 

received on or before September 7, 2021 

to be assured of consideration. 

ADDRESSES: Direct all written comments 

to Kinna Brewington, Internal Revenue 

Service, Room 6526, 1111 Constitution 

Avenue NW, Washington, DC 20224. 

Please send separate comments for each 

specific information collection listed 

below. You must reference the 

information collection’s title, form 

number, reporting or record-keeping 

requirement number, and OMB number 

in your comment. 

FOR FURTHER INFORMATION CONTACT: 

Requests for additional information or 

copies of the form and instructions 

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: Currently, 

the IRS is seeking comments concerning 

the following information collection 

tools, reporting, and record-keeping 

requirements: 

Title: Return of U.S. Persons With 

Respect to Certain Foreign Partnerships. 

OMB Number: 1545–1668. 

Form Number: Form 8865, Schedules 

A, A–1, A–2, A–3, B, G, H, K, K–1, K– 

2, K–3, L, M, M–1, M–2, N, O, P, and 

Form 8838 P. 

Abstract: The Taxpayer Relief Act of 

1997 significantly modified the 

information reporting requirements with 

respect to foreign partnerships. The Act 

made the following three changes: (1) 

Expanded section 6038B to require U.S. 

persons transferring property to foreign 

partnerships in certain transactions to 

report those transfers, (2) expanded 

section 6038 to require certain U.S. 

Partners of controlled foreign 

partnerships to report information about 

the partnerships, and (3) modified the 

reporting required under section 6046A 

with respect to acquisitions and 

dispositions of foreign partnership 

interests. Form 8865 is used by U.S. 

persons to fulfill their reporting 

obligations under sections 6038B, 6038, 

and 6046A. Form 8838–P is used to 

extend the statute of limitations for U.S. 

persons who transfers appreciated 

property to partnerships with foreign 

partners related to the transferor. 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. 

Current Actions: There are changes to 

the existing collection: (1) The number 

of responses for each form and schedule 

is being reduced to account for filers 

(individuals, businesses and tax-exempt 

organizations) being reported under 

OMB numbers 1545–0123 and 1545– 

0074, (2) additional information is being 

collected to comply with the Tax Cuts 

and Jobs Act, Public Law 115–97, and 

new section 250, (3) information about 

the number of foreign partners subject to 

section 864(c)(8) is being collected, (4) 

information about section 721(c) 

partnerships is being collected, (5) 

information is being collected for 

disclosure requirements under Treasury 

Regulations 1.703–3, 1.707–6, and 

1.707–8, and (6) new Schedules K–2 

and K–3 replace, supplement, and 

clarify certain amounts formerly 

reported on Schedules K and K–1 of 

Form 8865. 

Type of Review: Revision of a 

currently approved collection. 

Affected Public: Business or other forprofit organizations, individuals, and 

not-for-profit institutions. 

Estimated Number of Respondents: 

3,695. 

Estimated Time per Respondent: 22 

hours, 45 minutes. 


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