Notice2024-04393
Proposed Extension of Information Collection Request Submitted for Public Comment; Comment Request for Forms 3921 and 3922
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
March 1, 2024
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 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. Currently, the IRS is soliciting comments concerning the burden associated with information reporting requirements under Internal Revenue Service code section 6039, Form 3921, Exercise of an Incentive Stock Option Under Section 422(b), and Form 3922, Transfer of Stock Acquired through an Employee Stock Purchase Plan Under Section 423(c).
Full Text
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<title>Federal Register, Volume 89 Issue 42 (Friday, March 1, 2024)</title>
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[Federal Register Volume 89, Number 42 (Friday, March 1, 2024)]
[Notices]
[Page 15263]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-04393]
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Extension of Information Collection Request Submitted
for Public Comment; Comment Request for Forms 3921 and 3922
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 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. Currently, the IRS is soliciting comments
concerning the burden associated with information reporting
requirements under Internal Revenue Service code section 6039, Form
3921, Exercise of an Incentive Stock Option Under Section 422(b), and
Form 3922, Transfer of Stock Acquired through an Employee Stock
Purchase Plan Under Section 423(c).
DATES: Written comments should be received on or before April 30, 2024
to be assured of consideration.
ADDRESSES: Direct all written comments to Andr[eacute]s Garcia,
Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW,
Washington, DC 20224, or by email to <a href="/cdn-cgi/l/email-protection#18686a79367b7775757d766c6b58716a6b367f776e"><span class="__cf_email__" data-cfemail="ccbcbeade2afa3a1a1a9a2b8bf8ca5bebfe2aba3ba">[email protected]</span></a>. Please
include, ``OMB Number: 1545-2129--Public Comment Request Notice'' in
the Subject line.
FOR FURTHER INFORMATION CONTACT: Requests for additional information or
copies of the form and instructions should be directed to Ronald J.
Durbala, at (202) 317-5746, 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#5e0c14312d3b2e36701a2b2c3c3f323f1e372c2d70393128"><span class="__cf_email__" data-cfemail="1c4e56736f796c743258696e7e7d707d5c756e6f327b736a">[email protected]</span></a>.
SUPPLEMENTARY INFORMATION:
Title: Information Reporting Requirements under Code sec. 6039.
OMB Number: 1545-2129.
Document Number: Forms 3921 and 3922.
Abstract: Form 3921 is a copy of the information return filed with
the Internal Revenue Service by the corporation which transferred
shares of stock to a recipient. Form 3922 is used by the corporation to
record a transfer of the legal title of a share of stock acquired by
the employee where the stock was acquired pursuant to the exercise of
an option described in Internal Revenue Code section 423(c). Treasury
Decision 9470 contains the final regulations relating to the return and
information statement requirements under Internal Revenue Code section
6039. These regulations reflect changes to section 6039 made by section
403 of the Tax Relief and Health Care Act of 2006.
Current Actions: There are no changes to the burden previously
approved by OMB. This request is to extend the current approval for
another 3 years.
Type of Review: Extension of a currently approved collection.
Affected Public: Business and other for-profit organizations.
Estimated Number of Respondents: 51,000.
Estimated Time per Respondent: 29 min.
Estimated Total Annual Burden Hours: 25,505.
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.
Desired Focus of Comments: The Internal Revenue Service (IRS) is
particularly interested in comments that:
<bullet> Evaluate whether the proposed collection of information is
necessary for the proper performance of the functions of the agency,
including whether the information will have practical utility.
<bullet> Evaluate the accuracy of the agency's estimate of the
burden of the proposed collection of information, including the
validity of the methodology and assumptions used.
<bullet> Enhance the quality, utility, and clarity of the
information to be collected; and
<bullet> Minimize the burden of the collection of information on
those who are to respond, including using appropriate automated,
electronic, mechanical, or other technological collection techniques or
other forms of information technology, e.g., by permitting electronic
submissions of responses.
Comments submitted in response to this notice will be summarized
and/or included in the ICR for OMB approval of the extension of the
information collection; they will also become a matter of public
record.
Approved: February 27, 2024.
Ronald J. Durbala,
IRS Tax Analyst.
[FR Doc. 2024-04393 Filed 2-29-24; 8:45 am]
BILLING CODE 4830-01-P
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