Notice2023-00249
Proposed Collection; Comment Request for Regulation Project
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
January 10, 2023
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 general public and other Federal agencies to take this opportunity to comment on continuing information collections, as required by the Paperwork Reduction Act of 1995. The IRS is soliciting comments concerning taxation and reporting of REIT excess inclusion income.
Full Text
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<title>Federal Register, Volume 88 Issue 6 (Tuesday, January 10, 2023)</title>
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[Federal Register Volume 88, Number 6 (Tuesday, January 10, 2023)]
[Notices]
[Pages 1448-1449]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-00249]
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment Request for Regulation Project
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 general public
and other Federal agencies to take this opportunity to comment on
continuing information collections, as required by the Paperwork
Reduction Act of 1995. The IRS is soliciting comments concerning
taxation and reporting of REIT excess inclusion income.
DATES: Written comments should be received on or before March 13, 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#453537246b262a2828202b3136052c37366b222a33"><span class="__cf_email__" data-cfemail="85f5f7e4abe6eae8e8e0ebf1f6c5ecf7f6abe2eaf3">[email protected]</span></a>. Include 1545-2036 or Notice
2006-97, Taxation and Reporting of REIT Excess Inclusion Income.
FOR FURTHER INFORMATION CONTACT: Requests for additional information or
copies of this collection should be directed to LaNita Van Dyke, at
(202) 317-6009, 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#6b270a05021f0a453d0a052f12000e2b021918450c041d"><span class="__cf_email__" data-cfemail="266a47484f524708704748625f4d43664f545508414950">[email protected]</span></a>.
SUPPLEMENTARY INFORMATION:
Title: Taxation and Reporting of REIT Excess Inclusion Income.
OMB Number: 1545-2036.
Notice Number: Notice 2006-97.
Abstract: This notice requires certain REITs, RICS, partnerships
and other entities that have excess inclusion income to disclose the
amount and character of such income allocable to their record interest
owners. The record interest owners need the information to properly
report and pay taxes on such income.
Current Actions: There are no changes being made to the notice that
would affect burden at this time.
Type of Review: Extension of a currently approved collection.
Affected Public: Business or other for-profit organizations.
Estimated Number of Respondents: 50.
Estimated Time per Respondent: 2 hours.
Estimated Total Annual Burden Hours: 100 hours.
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.
Request for Comments: Comments submitted in response to this notice
will be summarized and/or included in the request for OMB approval. All
comments will become a matter of public record. Comments are invited
on: (a) whether the collection of information
[[Page 1449]]
is necessary for the proper performance of the functions of the agency,
including whether the information shall have 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 respondents, including through the use of
automated collection 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.
Approved: January 4, 2023.
Molly J. Stasko,
Senior Tax Analyst.
[FR Doc. 2023-00249 Filed 1-9-23; 8:45 am]
BILLING CODE 4830-01-P
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