Notice2022-27897
Agency Information Collection Activities; Submission for OMB Review; Comment Request; Superfund; Reverse Like-Kind Exchanges
Primary source
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Published
December 23, 2022
Issuing agencies
Treasury Department
Abstract
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, on or after the date of publication of this notice.
Full Text
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<title>Federal Register, Volume 87 Issue 246 (Friday, December 23, 2022)</title>
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[Federal Register Volume 87, Number 246 (Friday, December 23, 2022)]
[Notices]
[Page 79066]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-27897]
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DEPARTMENT OF THE TREASURY
Agency Information Collection Activities; Submission for OMB
Review; Comment Request; Superfund; Reverse Like-Kind Exchanges
AGENCY: Departmental Offices, Department of the Treasury.
ACTION: Notice.
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SUMMARY: 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, on or after the date of publication of this
notice.
DATES: Comments should be received on or before January 23, 2023 to be
assured of consideration.
ADDRESSES: Written comments and recommendations for the proposed
information collection should be sent within 30 days of publication of
this notice to <a href="http://www.reginfo.gov/public/do/PRAMain">www.reginfo.gov/public/do/PRAMain</a>. Find this particular
information collection by selecting ``Currently under 30-day Review--
Open for Public Comments'' or by using the search function. Copies of
the submissions may be obtained from Melody Braswell by emailing
<a href="/cdn-cgi/l/email-protection#4e1e1c0f0e3a3c2b2f3d3b3c3760292138"><span class="__cf_email__" data-cfemail="7d2d2f3c3d090f181c0e080f04531a120b">[email protected]</span></a>, calling (202) 622-1035, or viewing the entire
information collection request at <a href="http://www.reginfo.gov">www.reginfo.gov</a>.
SUPPLEMENTARY INFORMATION:
Internal Revenue Service (IRS)
Title: Reverse Like-Kind Exchanges.
OMB Number: 1545-1701.
Revenue Procedure Number: 2000-37.
Abstract: Revenue Procedure 2000-37 provides a safe harbor for
reverse like-kind exchanges in which a transaction using a ``qualified
exchange accommodation arrangement'' will qualify for non-recognition
treatment under section 1031 of the Internal Revenue Code. Revenue
Procedure 2004-51 modifies sections 1 and 4 of Rev. Proc. 2000-37,
2000-2 C.B. 308, to provide that Rev. Proc. 2000-37 does not apply if
the taxpayer owns the property intended to qualify as replacement
property before initiating a qualified exchange accommodation
arrangement (QEAA).
Current Actions: There is no change to the paperwork burden
previously approved by OMB.
Type of Review: Extension of a currently approved collection.
Affected Public: Individuals or households, business or other for-
profit organizations, and farms.
Estimated Number of Respondents: 1,600.
Estimated Time per Respondent: 2 hours.
Estimated Total Annual Burden Hours: 3,200 hours.
Authority: 44 U.S.C. 3501 et seq.
Melody Braswell,
Treasury PRA Clearance Officer.
[FR Doc. 2022-27897 Filed 12-22-22; 8:45 am]
BILLING CODE 4830-01-P
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