Notice2022-26820
Proposed Collection; Comment Request for Form 8858
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
December 9, 2022
Issuing agencies
Treasury DepartmentInternal Revenue Service
Abstract
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 Information Return of U.S. Persons With Respect To Foreign Disregarded Entities; and Transactions Between Foreign Disregarded Entity of a Foreign Tax Owner and the Filer.
Full Text
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<title>Federal Register, Volume 87 Issue 236 (Friday, December 9, 2022)</title>
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[Federal Register Volume 87, Number 236 (Friday, December 9, 2022)]
[Notices]
[Pages 75700-75701]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-26820]
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment Request for Form 8858
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 Information Return
of U.S. Persons With Respect To Foreign Disregarded Entities; and
Transactions Between Foreign Disregarded Entity of a Foreign Tax Owner
and the Filer.
DATES: Written comments should be received on or before February 7,
2023 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#403032216e232f2d2d252e3433002932336e272f36"><span class="__cf_email__" data-cfemail="68181a09460b0705050d061c1b28011a1b460f071e">[email protected]</span></a>. Include ``OMB Number 1545-
1910--Information Return of U.S. Persons With Respect To Foreign
Disregarded Entities; and Transactions Between Foreign Disregarded
Entity of a Foreign Tax
[[Page 75701]]
Owner and the Filer'' in the subject line of the message.
FOR FURTHER INFORMATION CONTACT: Requests for additional information or
copies of this collection should be directed to Martha R. Brinson, at
(202) 317-5753, or 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#92dff3e0e6faf3bcc0bcd0e0fbfce1fdfcd2fbe0e1bcf5fde4"><span class="__cf_email__" data-cfemail="3f725e4d4b575e116d117d4d56514c50517f564d4c11585049">[email protected]</span></a>.
SUPPLEMENTARY INFORMATION:
Title: Information Return of U.S. Persons With Respect To Foreign
Disregarded Entities; and Transactions Between Foreign Disregarded
Entity of a Foreign Tax Owner and the Filer.
OMB Number: 1545-1910.
Form Number: Form 8858 and Sch M (Form 8858).
Abstract: Form 8858 and Schedule M (Form 8858) are used by certain
U.S. persons that own a foreign disregarded entity (FDE) directly or,
in certain circumstances, indirectly or constructively.
Current Actions: There are no changes in the paperwork burden
previously approved by OMB.
Type of Review: Extension of a currently approved collection.
Affected Public: Business or other for-profit organizations, and
individuals or households.
Form 8858:
Estimated Number of Respondents: 20,000.
Estimated Time per Respondent: 35.99 hours.
Estimated Total Annual Burden Hours: 719,800.
Form 8858 (Sch M):
Estimated Number of Respondents: 8,000.
Estimated Time per Respondent: 24.75 hours.
Estimated Total Annual Burden Hours: 198,000 hours.
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: December 5, 2022.
Martha R. Brinson,
Tax Analyst.
[FR Doc. 2022-26820 Filed 12-8-22; 8:45 am]
BILLING CODE 4830-01-P
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