[Federal Register Volume 75, Number 206 (Tuesday, October 26, 2010)]
[Notices]
[Pages 65708-65710]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-27085]


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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

October 21, 2010.
    The Department of the Treasury will submit the following public 
information collection requirements to OMB for review and clearance 
under the Paperwork Reduction Act of 1995, Public Law 104-13 on or 
after the date of publication of this notice. A copy of the submissions 
may be obtained by calling the Treasury Bureau Clearance Officer 
listed. Comments regarding these information collections should be 
addressed to the OMB reviewer listed and to the Treasury PRA Clearance 
Officer, Department of the Treasury, 1750 Pennsylvania Avenue, NW., 
Suite 11010, Washington, DC 20220.

DATES: Written comments should be received on or before November 26, 
2010 to be assured of consideration.

Internal Revenue Service (IRS)

    OMB Number: 1545-0137.
    Type of Review: Extension without change to a currently approved 
collection.
    Title: Contract Coverage Under Title II of the Social Security Act.
    Form: 2032.
    Abstract: U.S. citizens and resident aliens employed abroad by 
foreign affiliates of American employers are exempt from social 
security taxes. Under Internal Revenue Code section 3121(1), American 
employers may file an agreement on Form 2032 to waive this exemption 
and obtain social security coverage for U.S. citizens and resident 
aliens employed abroad by their foreign affiliates. The American 
employers can later file Form 2032 to cover additional foreign 
affiliates as an amendment to their original agreement.
    Respondents: Individuals and Households.
    Estimated Total Burden Hours: 973 hours.

    OMB Number: 1545-0409.
    Type of Review: Revision of a currently approved collection.
    Title: Application for Reward for Original Information.
    Form: 211.
    Abstract: Forms 211 is the official application form used by 
persons

[[Page 65709]]

requesting rewards for submitting information concerning alleged 
violations of the tax laws by other persons. Such rewards are 
authorized by Internal Revenue Code Section 7623. The data is used to 
determine and pay rewards to those persons who voluntarily submit 
information.

    Respondents: Individuals or Households.
    Estimated Total Burden Hours: 5,000 hours.

    OMB Number: 1545-0575.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Return of Excise Taxes Related to Employee Benefit Plans.
    Form: 5330.
    Abstract: Code sections 4971, 4972, 4973(a)(3), 4975, 4976, 4977, 
4978, 4978A, 4978B, 4979, 4979A and 4980 impose various excise taxes in 
connection with employee benefit plans. Form 5330 is used to compute 
and collect these taxes.
    Respondents: Private Sector: Businesses or other for-profit.
    Estimated Total Burden Hours: 540,145 hours.

    OMB Number: 1545-0715.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Proceeds From Broker and Barter Exchange Transactions.
    Form: 1099-B.
    Abstract: Form 1099-B is used by brokers and barter exchanges to 
report proceeds from transactions to the Internal Revenue Service. The 
form will be used by IRS to verify compliance with the reporting rules 
and to verify that the recipient has included the proper amount of 
income on his or her return.
    Respondents: Private Sector: Businesses or other for-profit.
    Estimated Total Burden Hours: 3,104 hours.

    OMB Number: 1545-0807.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: LR 2013 (TD 7533) Final, Disc Rules on Procedure and 
Administration; Rules on Export Trade Corporations, and EE-155-78 (TD 
7896), Final, Income from Trade Shows.
    Abstract: Section 1.6071-1(b) requires that when a taxpayer files a 
late return for a short period, proof of unusual circumstances for late 
filing must be given to the District Director. Section 1.6072(b), (c), 
(d), and (e) of the IRC deals with the filing dates of certain 
corporate returns. Regulation section 1.6072-2 provides additional 
information concerning these filing dates. The information is used to 
insure timely filing of corporate income tax returns.
    Respondents: Individuals or Households.
    Estimated Total Burden Hours: 39,988,038 hours.

    OMB Number: 1545-1056.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: REG-209020-86 (formerly INTL-61-86) NPRM & Temporary Foreign 
Tax Credit; Notification and Adjustment Due to Foreign Tax 
Redeterminations.
    Abstract: Section 905(c) requires that a taxpayer notify the 
Internal Revenue Service of a change in the taxpayer's foreign income 
tax liability that may affect its foreign tax credit. Section 1.905-4T 
provides rules concerning the time, manner, and contents of such 
notification. Should the taxpayer fail to notify the IRS, penalties 
under section 6689 may be imposed. Respondents are U.S. taxpayers that 
claim a foreign tax credit under section 901, 902, or 960.
    Respondents: Individuals or Households.
    Estimated Total Burden Hours: 54,000 hours.

    OMB Number: 1545-1265.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: IA-120-86 Capitalization of Interest (TD 8584)(Final).
    Abstract: The regulations require taxpayers to maintain 
contemporaneous written records of estimates, to file a ruling request 
to segregate activities in applying the interest capitalization rules, 
and to request the consent of the Commissioner to change their methods 
of accounting for the capitalization of interest.
    Respondents: Individuals or Households.
    Estimated Total Burden Hours: 116,767 hours.

    OMB Number: 1545-1596.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Request for Innocent Spouse Relief.
    Forms: 8857, 8857(SP).
    Abstract: Section 6103(e) of the Internal Revenue Code allows 
taxpayers to request, and IRS to grant, ``innocent spouse'' relief 
when: taxpayer filed a joint return with tax substantially understated; 
taxpayer establishes no knowledge of or benefit from, the 
understatement; and it would be inequitable to hold the taxpayer 
liable.
    Respondents: Individuals or Households.
    Estimated Total Burden Hours: 240,500 hours.

    OMB Number: 1545-1613.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: REG-209446-82 (TD8852) (Final) Pass-through of Items of an S 
Corporation to its Shareholders.
    Abstract: Section 1366 requires shareholders of an S corporation to 
take into account their pro rata share of separately stated items of 
the S corporation and non-separately computed income or loss. The 
regulations provide guidance regarding this reporting requirement.
    Respondents: Private Sector: Businesses or other for-profit.
    Estimated Total Burden Hours: 1 hour.

    OMB Number: 1545-1883.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Announcement 2004-38, Election of Alternative Deficit 
Reduction Contribution.
    Abstract: This announcement describes the election that must be 
made in order for certain employers to take advantage of the 
alternative deficit reduction contribution described in section 102 of 
H.R. 3108.
    Respondents: Private Sector: Businesses or other for-profit.
    Estimated Total Burden Hours: 800 hours.

    OMB Number: 1545-1893.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Section 1045 Application to Partnerships.
    Abstract: The collection of information is in Sec.  1.1045-
1(b)(4)(ii). Any partner who recognizes all or a part of the partner's 
distributive share of partnership section 1045 gain must notify the 
partnership of the amount of the partnership section 1045 gain that is 
recognized. This information will be used by the partnership to make 
necessary adjustments to the basis of the replacement qualified small 
business stock.
    Respondents: Individuals or Households.
    Estimated Total Burden Hours: 1,000 hours.

    OMB Number: 1545-2061.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Supplemental Attachment to Schedule M-3.

[[Page 65710]]

    Form: 8916-A.
    Abstract: The Form 8916-A is a detailed schedule that reconciles 
the amount of the cost of goods sold, interest income and interest 
expense reported on Schedule M-3 for the Form 1065, Form 1120, 1120-S, 
1120-L, or 1120-PC.
    Respondents: Private Sector: Businesses or other for-profit.
    Estimated Total Burden Hours: 5,049,720 hours.

    Bureau Clearance Officer: R. Joseph Durbala, Internal Revenue 
Service, 1111 Constitution Avenue, NW., Room 6129, Washington, DC 
20224; (202) 622-3634.
    OMB Reviewer: Shagufta Ahmed, Office of Management and Budget, New 
Executive Office Building, Room 10235, Washington, DC 20503; (202) 395-
7873.

Dawn D. Wolfgang,
Treasury PRA Clearance Officer.
[FR Doc. 2010-27085 Filed 10-25-10; 8:45 am]
BILLING CODE 4830-01-P