Notice2023-26169
Agency Information Collection Activities; Submission for OMB Review; Comment Request; Multiple Internal Revenue Service (IRS) Information Collection Requests
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 28, 2023
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. The public is invited to submit comments on these requests.
Full Text
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<title>Federal Register, Volume 88 Issue 227 (Tuesday, November 28, 2023)</title>
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[Federal Register Volume 88, Number 227 (Tuesday, November 28, 2023)]
[Notices]
[Pages 83205-83206]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-26169]
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DEPARTMENT OF THE TREASURY
Agency Information Collection Activities; Submission for OMB
Review; Comment Request; Multiple Internal Revenue Service (IRS)
Information Collection Requests
AGENCY: Departmental Offices, U.S. 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. The public is invited to submit comments on these requests.
DATES: Comments should be received on or before December 28, 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.
FOR FURTHER INFORMATION CONTACT: Copies of the submissions may be
obtained from Melody Braswell by emailing <a href="/cdn-cgi/l/email-protection#0757554647737562667472757e29606871"><span class="__cf_email__" data-cfemail="a4f4f6e5e4d0d6c1c5d7d1d6dd8ac3cbd2">[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)
1. 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.
Form 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.
2. Title: Tax Return Preparer Complaint and Tax Return Preparer
Fraud or Misconduct Affidavit.
OMB Number: 1545-2168.
Form Numbers: 14157 and 14157-A.
Abstract: These forms will be used by taxpayers to report
allegations of misconduct by tax return preparers. The forms are
created specifically for tax return preparer complaints and include
items necessary for the IRS to effectively evaluate the complaint and
route to the appropriate function.
Current Actions: There are no changes to the forms previously
approved by OMB.
[[Page 83206]]
Type of Review: Extension of a currently approved collection.
Affected Public: Individuals or households, businesses, and other
for-profits.
Estimated Number of Respondents: 7,500.
Estimated Time per Respondent: 12 mins.
Estimated Total Annual Burden Hours: 1,593.
3. Title: Like-Kind Exchanges.
OMB Number: 1545-1190.
Form Number: Form 8824.
Abstract: Section 1031 of the Internal Revenue Code allows for the
non-recognition of gain or loss on the exchange of business or
investment property. Section 1043 allows for the non-recognition of
gain from dispositions made by certain members of the executive branch
of the Federal government because of a conflict of interest. Form 8824
provides taxpayers with an easy method of determining whether a
transaction qualifies for like-kind exchange treatment, the gain or
loss, if any recognized because of the exchange, and the basis in the
new property received in the exchange.
Current Actions: Substantial changes are being made to the form and
instructions, based on Regulations sections 1.1031(a)-1(a)(3) and
1.1031(a)-3 (and IRC 1031 as updated by Pub. L. 115-97 (TCJA), section
13303). These rules limit the property eligible for like-kind
exchanges. Under these rules, only property meeting the definition of
real property in IRC 1031 is like-kind property for purposes of like-
kind exchanges.
Type of Review: Revision of a currently approved collection.
Affected Public: Individuals or households, business or other for-
profit organization, and not-for-profit institution.
Estimated Number of Respondents: 137,547.
Estimated Time per Respondent: 17 hrs., 11 min.
Estimated Total Annual Burden Hours: 2,364,433.
Authority: 44 U.S.C. 3501 et seq.
Melody Braswell,
Treasury PRA Clearance Officer.
[FR Doc. 2023-26169 Filed 11-27-23; 8:45 am]
BILLING CODE 4830-01-P
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