Federal Register / Vol. 81, No. 20 / Monday, February 1, 2016 / Notices 5165 

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. 

Dated: January 27, 2016. 

Brenda Simms, 

Treasury PRA Clearance Officer. 

[FR Doc. 2016–01768 Filed 1–29–16; 8:45 am] 

BILLING CODE 4810–25–P 

DEPARTMENT OF THE TREASURY 

Submission for OMB Review; 

Comment Request 

January 26, 2016. 

The Department of the Treasury will 

submit the following information 

collection requests to the Office of 

Management and Budget (OMB) for 

review and clearance in accordance 

with the Paperwork Reduction Act of 

1995, Public Law 104–13, on or after the 

date of publication of this notice. 

DATES: Comments should be received on 

or before March 2, 2016 to be assured 

of consideration. 

ADDRESSES: Send comments regarding 

the burden estimates, or any other 

aspect of the information collections, 

including suggestions for reducing the 

burden, to (1) Office of Information and 

Regulatory Affairs, Office of 

Management and Budget, Attention: 

Desk Officer for Treasury, New 

Executive Office Building, Room 10235, 

Washington, DC 20503, or email at 

OIRA_Submission@OMB.EOP.gov and 

(2) Treasury PRA Clearance Officer, 

1750 Pennsylvania Ave. NW., Suite 

8117, Washington, DC 20220, or email 

at PRA@treasury.gov. 

FOR FURTHER INFORMATION CONTACT: 

Copies of the submissions may be 

obtained by emailing PRA@treasury.gov, 

calling (202) 622–1295, or viewing the 

entire information collection request at 

www.reginfo.gov. 

Internal Revenue Service (IRS) 

OMB Control Number: 1545–0239. 

Type of Review: Extension of a 

currently approved collection. 

Title: Statement by Person(s) 

Receiving Gambling Winnings. 

Form: Form 5754. 

Abstract: Form 5754 is completed by 

taxpayers who receive gambling 

winnings either for someone else or as 

a member of a group of two or more 

people sharing the winnings, such as by 

sharing the same winning ticket. 

Affected Public: Individuals or 

households. 

Estimated Average Annual Burden 

per Response: 12 minutes. 

Estimated Total Annual Burden 

Hours: 40,800. 

OMB Control Number: 1545–0644. 

Type of Review: Revision of a 

currently approved collection. 

Title: Gains and Losses from Section 

1256 Contracts and Straddles. 

Form: Form 6781. 

Abstract: Form 6781 is used to report 

any gain or loss on Internal Revenue 

Code section 1256 contracts under the 

mark-to-market rules and gains and 

losses under section 1092 from straddle 

positions. 

Affected Public: Businesses or other 

for-profits. 

Estimated Average Annual Burden 

per Response: 15.89 hours. 

Estimated Total Annual Burden 

Hours: 903,236. 

OMB Control Number: 1545–0745. 

Type of Review: Extension of a 

currently approved collection. 

Title: LR–27–83 (TD 7882—final) 

Floor Stocks Credits or Refunds and 

Consumer Credits or Refunds With 

Respect to Certain Tax-Repealed 

Articles; Excise Tax on Heavy Trucks; 

LR–54–85 (TD 8050) Excise Tax. 

Abstract: LR–27–83 (TD 7882), 

requires sellers of trucks, trailers and 

semitrailers, and tractors to maintain 

records of the gross vehicle weights of 

articles sold to verify taxability. LR–54– 

85 (TD 8050), requires that if the sale is 

to be treated as exempt, the seller and 

the purchaser must be registered and the 

purchaser must give the seller a resale 

certificate. 

Affected Public: Businesses or other 

for-profits. 

Estimated Total Annual Burden 

Hours: 4,140. 

OMB Control Number: 1545–0887. 

Type of Review: Extension of a 

currently approved collection. 

Title: Information Return for Publicly 

Offered Original Issue Discount 

Instruments. 

Form: Form 8281. 

Abstract: Form 8281 is filed by the 

issuer of a publicly offered debt 

instrument having OID. The information 

is used to update Pub. 1212, Guide to 

Original Issue Discount (OID) 

Instruments, to enable brokers and other 

middlemen to identify publicly traded 

OID obligations, which they may hold 

as nominees for the true owners, so that 

they can meet the requirement to file 

Forms 1099–INT and 1099–OID as 

required by section 6049. 

Affected Public: Businesses or other 

for-profits. 

Estimated Average Annual Burden 

per Response: 6.12 hours. 

Estimated Total Annual Burden 

Hours: 3.060. 

OMB Control Number: 1545–0996. 

Type of Review: Extension of a 

currently approved collection. 

Title: REG–130477–00; REG–130481– 

00 (TD 8987—Final), Required 

Distributions From Retirement Plans. 

Abstract: The regulations relate to the 

required minimum distribution from 

qualified plans, individual retirement 

plans, deferred compensation plans 

under section 457, and section 403(b) 

annuity contracts, custodial accounts, 

and retirement income accounts. 

Affected Public: State, Local, or Tribal 

Governments. 

Estimated Total Annual Burden 

Hours: 8,400. 

OMB Control Number: 1545–1020. 

Type of Review: Extension of a 

currently approved collection. 

Title: Form 1041–T—Allocation of 

Estimated Tax Payments to 

Beneficiaries. 

Form: Form 1041–T. 

Abstract: A trust or, for its final tax 

year, a decedent’s estate may elect 

under Internal Revenue Code section 

643(g) to have any part of its estimated 

tax payments (but not income tax 

withheld) treated as made by a 

beneficiary or beneficiaries. The 

fiduciary files Form 1041–T to make the 

election. Once made, the election is 

irrevocable. 

Affected Public: Businesses or other 

for-profits. 

Estimated Average Annual Burden 

per Response: 0.99 hour. 

Estimated Total Annual Burden 

Hours: 990. 

OMB Control Number: 1545–1131. 

Type of Review: Extension of a 

currently approved collection. 

Title: TD 8400—(Final) Taxation of 

Gain or Loss from Certain 

Nonfunctional Currency Transactions 

(Section 988 Transactions). 

Abstract: TD 8400 contains final 

regulations regarding the taxation of 

gain or loss from certain foreign 

currency transactions and applies to 

taxpayers engaging in such transactions. 

Section 988 of the Internal Revenue 

Code concerns the taxation of exchange 

gain or loss on certain foreign currency 

denominated transactions. Such gains 

and losses are characterized as ordinary 

income or loss. However, under section 

988(a)(1)(B) taxpayers may elect to 

characterize exchange gain or loss on 

certain transactions as capital gain or 

loss. Section 1.988–3(b) of the 

regulations provides the procedure for 

making the election. Under section 

988(c)(1)(D)(ii), taxpayers may elect to 

have regulated futures contracts and 

certain options (which generally are not 

subject to section 988) treated as section 


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5166 Federal Register / Vol. 81, No. 20 / Monday, February 1, 2016 / Notices 

988 transactions. Sections 1.988– 

1(a)(4)(iii) and (iv) provide the 

procedure for making that election. 

Under section 988(c)(1)(E)(iii), a 

commodity fund may elect special 

treatment under section 988. Section 

1.988–1(a)(5)(iv) provides the procedure 

for making that election. Under section 

988(d) taxpayers may receive special 

treatment if they identify certain 

transactions. The identification rules are 

in sections 1.988–5(a)(8), 1.988–5(b)(3), 

1.988–5(c)(2) and 1.988–5(d)(2)(i)(A). 

Affected Public: Businesses or other 

for-profits. 

Estimated Average Annual Burden 

per Response: 40 minutes. 

Estimated Total Annual Burden 

Hours: 3,333. 

OMB Control Number: 1545–1163. 

Type of Review: Extension of a 

currently approved collection. 

Title: Form 8822—Change of Address 

(For Individual, Gift, Estate, or 

Generation-Skipping Transfer Tax 

Returns); Form 8822–B—Change of 

Address—Business. 

Form: Form 8822, Form 8822–B. 

Abstract: Forms 8822 and 8822–B are 

used by taxpayers to furnish their 

change of address to the Internal 

Revenue Service. Form 8822 is used by 

individual taxpayers while Form 8822– 

B will be used by business taxpayers. 

Affected Public: Businesses or other 

for-profits; Individuals or households. 

Estimated Total Annual Burden 

Hours: 264,792. 

OMB Control Number: 1545–1260. 

Type of Review: Extension of a 

currently approved collection. 

Title: CO–62–89 (Final) Final 

Regulations under Section 382 of the 

Internal Revenue Code of 1986; 

Limitations on Corporate Net Operating 

Loss Carryforwards. 

Abstract: The reporting requirement 

concerns the election a taxpayer may 

make to treat as the change data the 

effective data of a plan of reorganization 

in a title II or similar case rather than 

the confirmation date of a plan. 

Affected Public: Businesses or other 

for-profits. 

Estimated Average Annual Burden 

per Response: 5 minutes. 

Estimated Total Annual Burden 

Hours: 1. 

OMB Control Number: 1545–1347. 

Type of Review: Revision of a 

currently approved collection. 

Title: Arbitrage Restrictions on and 

Issue Price Definition for Tax Exempt 

Bonds. 

Abstract: Section 148 of the Internal 

Revenue Code requires issuers of taxexempt bonds to rebate certain arbitrage 

profits earned on nonpurpose 

investments acquired with the bond 

proceeds. 

Under section 148(f), interest on a 

state or local bond is not tax exempt 

unless the issuer of the bond rebates to 

the United States arbitrage profits 

earned from investing proceeds of the 

bond in higher yielding nonpurpose 

investments. Form 8038–T is used to 

pay the arbitrage rebate to the United 

States and to pay penalty in lieu of 

rebates. Burden for the form is being 

reported under 1545–1219. 

Issuers are also required to keep 

records of certain interest rate hedges so 

that the hedges are taken into account 

in determining arbitrage profits. Under 

TD 8718, the scope of interest rate 

hedging transactions covered by the 

arbitrage regulations was broadened by 

requiring that hedges entered into prior 

to the sale date of the bonds are covered 

as well. 

The collection of information in the 

proposed regulation (REG–138526–14) 

is in § 1.148–1(f)(2)(ii) which contains a 

requirement that the issuer obtain 

certifications and supporting 

documentation regarding the 

underwriter’s sales of the issuer’s bonds. 

Affected Public: State, Local, or Tribal 

Governments. 

Estimated Total Annual Burden 

Hours: 94,326. 

OMB Control Number: 1545–1426. 

Type of Review: Extension of a 

currently approved collection. 

Title: INTL–21–91 (TD 8656—Final) 

Section 6662—Imposition of the 

Accuracy-Related Penalty. 

Abstract: These regulations provide 

guidance about substantial and gross 

valuation misstatements as defined in 

sections 6662(e) and 6662(h). They also 

provide guidance about the reasonable 

cause and good faith exclusion. The 

regulations apply to taxpayers who have 

transactions between persons described 

in section 482 and not section 482 

transfer price adjustments. 

Affected Public: Businesses or other 

for-profits. 

Estimated Total Annual Burden 

Hours: 20,125. 

OMB Control Number: 1545–1438. 

Type of Review: Extension of a 

currently approved collection. 

Title: TD 8643 (Final) Distributions of 

Stock and Stock Rights. 

Abstract: The requested information 

is required to notify the Service that a 

holder of preferred stock callable at a 

premium by the issuer has made a 

determination regarding the likelihood 

of exercise of the right to call that is 

different from the issuer’s 

determination. 

Affected Public: Businesses or other 

for-profits. 

Estimated Total Annual Burden 

Hours: 333. 

OMB Control Number: 1545–1502. 

Type of Review: Extension of a 

currently approved collection. 

Title: Form 5304–SIMPLE; Form 

5305–SIMPLE; Notice 98–4. 

Abstract: Forms 5304–SIMPLE and 

5035–SIMPLE are used by an employer 

to permit employees to make salary 

reduction contributions to a savings 

incentive match plan (SIMPLE IRA) 

described in Code section 408(p). These 

forms are not to be filed with IRS, but 

to be retained in the employers’ records 

as proof of establishing such a plan, 

thereby justifying a deduction for 

contributions made to the SIMPLE IRA. 

The data is used to verify the deduction. 

Notice 98–4 provides guidance for 

employers and trustees regarding how 

they can comply with the requirements 

of Code section 408(p) in establishing 

and maintaining a SIMPLE Plan. 

Affected Public: Businesses or other 

for-profits. 

Estimated Total Annual Burden 

Hours: 2,113,000. 

OMB Control Number: 1545–1522. 

Type of Review: Revision of a 

currently approved collection. 

Title: Revenue Procedure 2016–1, 

Rulings and Determination Letters. 

Abstract: Revenue Procedure 2016–1 

explains how the Service provides 

advice to taxpayers on issues. It 

explains the forms of advice and the 

manner in which advice is requested by 

taxpayers and provided by the Service. 

Affected Public: Businesses or other 

for-profits. 

Estimated Total Annual Burden 

Hours: 316,020. 

OMB Control Number: 1545–1539. 

Type of Review: Extension of a 

currently approved collection. 

Title: REG–208172–91 (TD 8787— 

final) Basis Reduction Due to Discharge 

of Indebtedness. 

Abstract: The IRS will use the 

information provided by taxpayers 

owning interests in partnerships and 

owning section 1221(i) real property to 

verify compliance with sections 

1017(b)(3)(C), 1017(b)(3)(E), 

1017(b)(3)(F), and 1017(b)(4)(X). 

Affected Public: Individuals or 

households. 

Estimated Total Annual Burden 

Hours: 10,000. 

OMB Control Number: 1545–1801. 

Type of Review: Extension of a 

currently approved collection. 

Title: Revenue Procedure 2002–67, 

Settlement of Section 351 Contingent 

Liability Tax Shelter Cases. 

Abstract: This revenue procedure 

prescribes procedures for taxpayers who 


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Federal Register / Vol. 81, No. 20 / Monday, February 1, 2016 / Notices 5167 

elect to participate in a settlement 

initiative aimed at resolving tax shelter 

cases involving contingent liability 

transactions that are the same or similar 

to those described in Notice 2001–17 

(‘‘contingent liability transactions’’). 

There are two resolution methodologies: 

A fixed concession procedure and a fast 

track dispute resolution procedure that 

includes binding arbitration. 

Affected Public: Businesses or other 

for-profits. 

Estimated Total Annual Burden 

Hours: 7,500. 

OMB Control Number: 1545–1804. 

Type of Review: Revision of a 

currently approved collection. 

Title: New Markets Credit. 

Form: Form 8874. 

Abstract: To claim a credit for equity 

investments made in Qualified 

Community Development Entities, 

investors use Form 8874. 

Affected Public: Businesses or other 

for-profits. 

Estimated Average Annual Burden 

per Response: 4.87 hours. 

Estimated Total Annual Burden 

Hours: 492. 

OMB Control Number: 1545–1814. 

Type of Review: Extension of a 

currently approved collection. 

Title: Changes in Corporate Control 

and Capital Structure. 

Abstract: Any corporation that 

undergoes reorganization under 

Regulation section 1.6043–4T with 

stock, cash, and other property over 

$100 million must file Form 1099–CAP 

with the IRS shareholders. 

Affected Public: Businesses or other 

for-profits. 

Estimated Total Annual Burden 

Hours: 67. 

OMB Control Number: 1545–1832. 

Type of Review: Extension of a 

currently approved collection. 

Title: Systemic Advocacy Issue 

Submission Form. 

Abstract: Form 14411 is to be used by 

individuals, businesses, practitioners 

and other public groups to identify 

systemic problems that taxpayers are 

encountering with IRS. This form will 

be submitted electronically via the 

IRS.gov Web site. Mailed or faxed forms 

will be accepted. 

Affected Public: Businesses or other 

for-profits; Individuals or households. 

Estimated Total Annual Burden 

Hours: 336. 

OMB Control Number: 1545–1983. 

Type of Review: Extension of a 

currently approved collection. 

Title: Qualified Railroad Track 

Maintenance Credit. 

Abstract: Form 8900, Qualified 

Railroad Track Maintenance Credit, was 

developed to carry out the provisions of 

Code section 45G. This section was 

added by section 245 of the American 

Jobs Creation Act of 2004 (P.L. 108– 

357). The form provides a means for the 

eligible taxpayers to compute the 

amount of credit. 

Affected Public: Businesses or other 

for-profits. 

Estimated Total Annual Burden 

Hours: 1,985. 

OMB Control Number: 1545–2005. 

Type of Review: Extension of a 

currently approved collection. 

Title: Restaurant Tips—Attributed Tip 

Income Program (ATIP). 

Abstract: This revenue procedure sets 

forth the requirements for participating 

in the Attributed Tip Income Program 

(ATIP). ATIP provides benefits to 

employers and employees similar to 

those offered under previous tip 

reporting agreements without requiring 

one-on-one meetings with the Service to 

determine tip rates or eligibility. 

Affected Public: Businesses or other 

for-profits. 

Estimated Total Annual Burden 

Hours: 6,100. 

OMB Control Number: 1545–2008. 

Type of Review: Extension of a 

currently approved collection. 

Title: Nonconventional Source Fuel 

Credit. 

Abstract: Form 8907 will be used to 

claim a credit from the production and 

sale of fuel created from 

nonconventional sources. For tax years 

ending after 12/31/05 fuel from coke or 

coke gas can qualify for the credit, and 

the credit becomes part of the general 

business credit. 

Affected Public: Businesses or other 

for-profits. 

Estimated Total Annual Burden 

Hours: 171,160. 

OMB Control Number: 1545–2009. 

Type of Review: Extension of a 

currently approved collection. 

Title: Form 13285–A—Reducing Tax 

Burden on America’s Taxpayers. 

Abstract: Form 13285–A is used by 

taxpayers and external partners and 

stakeholders to identify meaningful 

taxpayer burden reduction 

opportunities. Employees will make the 

forms available at education and 

outreach events. 

Affected Public: Businesses or other 

for-profits; Individuals or households. 

Estimated Total Annual Burden 

Hours: 62. 

OMB Control Number: 1545–2110. 

Type of Review: Extension of a 

currently approved collection. 

Title: REG–127770–07 (Final), 

Modifications of Commercial Mortgage 

Loans Held by a Real Estate Mortgage 

Investment Conduit. 

Abstract: This final regulation 

expands the list of permitted loan 

modifications to include certain 

modifications of commercial mortgages. 

The regulations are necessary to better 

accommodate evolving commercial 

mortgage industry packages. 

Affected Public: Businesses or other 

for-profits. 

Estimated Total Annual Burden 

Hours: 3,000. 

OMB Control Number: 1545–2231. 

Type of Review: Revision of a 

currently approved collection. 

Title: Form 13768—Electronic Tax 

Administration Advisory Committee 

Membership Application. 

Form: Form 13768. 

Abstract: The Internal Revenue 

Service Restructuring and Reform Act of 

1998 (RRA 98) authorized the creation 

of the Electronic Tax Administration 

Advisory Committee (ETAAC). ETAAC 

has a primary duty of providing input 

to the Internal Revenue Service (IRS) on 

its strategic plan for electronic tax 

administration. Accordingly, ETAAC’s 

responsibilities involve researching, 

analyzing and making recommendations 

on a wide range of electronic tax 

administration issues. ETAAC members 

convey the public’s perception of the 

IRS electronic tax administration 

activities, offer constructive 

observations about current or proposed 

policies, programs, and procedures, and 

suggest improvements. The IRS will 

solicit applications for membership via 

Form 13768. 

Affected Public: Businesses or other 

for-profits. 

Estimated Average Annual Burden 

per Response: 1.5 hours. 

Estimated Total Annual Burden 

Hours: 750. 

Brenda Simms, 

Treasury PRA Clearance Officer. 

[FR Doc. 2016–01718 Filed 1–29–16; 8:45 am] 

BILLING CODE 4830–01–P 


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