Notice2022-24567
Proposed Extension of Information Collection Request Submitted for Public Comment; Comment Request Concerning Information Reporting for Form 8811
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
November 10, 2022
Issuing agencies
Treasury DepartmentInternal Revenue Service
Abstract
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 i information returns for real estate mortgage investment conduits (REMICs) and issuers of collateralized debt obligations.
Full Text
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<title>Federal Register, Volume 87 Issue 217 (Thursday, November 10, 2022)</title>
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[Federal Register Volume 87, Number 217 (Thursday, November 10, 2022)]
[Notices]
[Pages 68006-68007]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-24567]
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Extension of Information Collection Request Submitted
for Public Comment; Comment Request Concerning Information Reporting
for Form 8811
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Notice and request for comments.
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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 i information returns for real estate mortgage investment
conduits (REMICs) and issuers of collateralized debt obligations.
DATES: Written comments should be received on or before January 9, 2023
to be assured of consideration.
ADDRESSES: Direct all written comments to Andr[eacute]s Garcia,
Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW,
Washington, DC 20224, or by email to <a href="/cdn-cgi/l/email-protection#215153400f424e4c4c444f5552614853520f464e57"><span class="__cf_email__" data-cfemail="235351420d404c4e4e464d5750634a51500d444c55">[email protected]</span></a>. Please
include, ``OMB Number: 1545-1099--Public Comment Request Notice'' in
the Subject line.
FOR FURTHER INFORMATION CONTACT: Requests for additional information or
copies of the form and instructions should be directed to Ronald J.
Durbala, at (202) 317-5746, at Internal Revenue Service, Room 6526,
1111 Constitution Avenue NW, Washington, DC 20224, or through the
internet at <a href="/cdn-cgi/l/email-protection#085a42677b6d7860264c7d7a6a69646948617a7b266f677e"><span class="__cf_email__" data-cfemail="85d7cfeaf6e0f5edabc1f0f7e7e4e9e4c5ecf7f6abe2eaf3">[email protected]</span></a>.
SUPPLEMENTARY INFORMATION:
Title: Information Return for Real Estate Mortgage Investment
Conduits (REMICs) and Issuers of Collateralized Debt Obligations.
OMB Number: 1545-1099.
Form Project Number: Form 8811.
Abstract: Current regulations require real estate mortgage
investment conduits (REMICs) to provide Forms 1099 to true holders of
interests in these investment vehicles. Because of the complex
computations required at each level and the potential number of
nominees, the ultimate investor may not receive a Form 1099 and other
information necessary to prepare their tax return in a timely fashion.
Form 8811 collects information for publishing by the IRS so that
brokers can contact REMICs to request the financial information and
timely issue Forms 1099 to holders.
Current Actions: There is no change in the form previously approved
however, an increase in the estimated annual responses will increase
the overall estimated burden by 8,760 hours.
Type of Review: Revision of a currently approved collection.
Affected Public: Business or other for-profit organizations.
Estimated Number of Responses: 3,000.
Estimated Time per Respondent: 4 Hours 23 minutes.
Estimated Total Annual Burden Hours: 13,140.
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:
<bullet> 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.
<bullet> 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.
<bullet> Enhance the quality, utility, and clarity of the
information to be collected; and
<bullet> 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.
[[Page 68007]]
Approved: November 7, 2022.
Ronald J. Durbala,
IRS Tax Analyst.
[FR Doc. 2022-24567 Filed 11-9-22; 8:45 am]
BILLING CODE 4830-01-P
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