Notice2023-17196
Proposed Extension of Information Collection Request Submitted for Public Comment; Withholding of Tax and Information Reporting With Respect to Interests in Partnerships Engaged in a U.S. Trade or Business
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
August 11, 2023
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 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. The IRS is soliciting comments concerning withholdings of tax and information reporting with respect to certain dispositions of interests in partnerships engaged in a trade or business within the United States.
Full Text
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<title>Federal Register, Volume 88 Issue 154 (Friday, August 11, 2023)</title>
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[Federal Register Volume 88, Number 154 (Friday, August 11, 2023)]
[Notices]
[Pages 54709-54710]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-17196]
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Extension of Information Collection Request Submitted
for Public Comment; Withholding of Tax and Information Reporting With
Respect to Interests in Partnerships Engaged in a U.S. Trade or
Business
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 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. The IRS is soliciting comments
concerning withholdings of tax and information reporting with respect
to certain dispositions of interests in partnerships engaged in a trade
or business within the United States.
DATES: Written comments should be received on or before October 10,
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#057577642b666a6868606b7176456c77762b626a73"><span class="__cf_email__" data-cfemail="08787a69266b6765656d667c7b48617a7b266f677e">[email protected]</span></a>. Please reference the
information collection's ``OMB number 1545-2292'' in the subject line
of the message.
FOR FURTHER INFORMATION CONTACT: Requests for additional information or
[[Page 54710]]
copies of the regulations should be directed to Sara Covington, at
(202) 317-5744, or Internal Revenue Service, Room 6526, 1111
Constitution Avenue NW, Washington, DC 20224, or through the internet,
at <a href="/cdn-cgi/l/email-protection#4d3e2c3f2c6321632e223b24232a3922230d243f3e632a223b"><span class="__cf_email__" data-cfemail="ee9d8f9c8fc082c08d81988780899a8180ae879c9dc0898198">[email protected]</span></a>.
SUPPLEMENTARY INFORMATION:
Title: Withholding of Tax and Information Reporting With Respect to
Interests in Partnerships Engaged in a U. S. Trade or Business.
OMB Control Number: 1545-2292.
Regulation Project Number: TD 9926.
Abstract: These final regulations under section 1446(f) provide
guidance related to the withholding of tax and information reporting
with respect to certain dispositions of interests in partnerships
engaged in a trade or business within the United States. The final
regulations affect certain foreign persons that recognize gain or loss
from the sale or exchange of an interest in a partnership that is
engaged in a trade or business within the United States, and persons
that acquire those interests. The final regulations also affect
partnerships that, directly or indirectly, have foreign persons as
partners.
Current Actions: There is no change to existing regulation.
Type of Review: Extension without change of a currently approved
collection.
Affected Public: Business or other for-profit organizations and
individuals.
Estimated Number of Respondents: 76,000.
Estimated Time per Respondent: 40 minutes.
Estimated Total Annual Burden Hours: 50,920.
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. All
comments will become a matter 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 shall have practical utility; (b) the accuracy of the
agency's estimate of the burden of the collection f 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: August 7, 2023.
Sara L. Covington,
IRS Tax Analyst.
[FR Doc. 2023-17196 Filed 8-10-23; 8:45 am]
BILLING CODE 4830-01-P
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