Proposed Collection; Comment Request for Revenue Procedure 2014-55
Federal Register, Volume 82 Issue 223 (Tuesday, November 21, 2017)
Federal Register Volume 82, Number 223 (Tuesday, November 21, 2017)
Notices
Page 55489
From the Federal Register Online via the Government Publishing Office www.gpo.gov
FR Doc No: 2017-25124
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment Request for Revenue Procedure 2014-
55
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 general public and other Federal agencies to take this opportunity to comment on information collections, as required by the Paperwork Reduction Act of 1995. The IRS is soliciting comments concerning Election Procedures and Information Reporting with Respect to Interests in Certain Canadian Retirement Plans.
DATES: Written comments should be received on or before January 22, 2018 to be assured of consideration.
ADDRESSES: Direct all written comments to L. Brimmer, Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW., Washington, DC 20224.
FOR FURTHER INFORMATION: Requests for additional information or copies of the Rev. Proc. should be directed to Martha R. Brinson, at (202) 317-5753 or at Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW., Washington, DC 20224, or through the Internet at Martha.R.Brinson@irs.gov.
SUPPLEMENTARY INFORMATION: Title: Election Procedures and Information Reporting with Respect to Interests in Certain Canadian Retirement Plans.
OMB Number: 1545-1773.
Rev. Proc. Number: 2014-55.
Abstract: Revenue Procedure 2002-23 provides guidance for the application by U.S. citizens and residents of the U.S.--Canada Income Tax Treaty, as amended by the 1995 protocol, in order to defer U.S. Income taxes on income accrued in certain Canadian retirement plans. This revenue procedure was superseded by Revenue Procedure 2014-55.
Current Actions: There are no changes being made to the Rev. Proc. at this time.
Type of Review: Extension of a currently approved collection.
Affected Public: Business or other for-profit organizations and individuals.
Estimated Number of Responses: 20,000.
Estimated Time Per Respondent: 30 minutes.
Estimated Total Annual Burden Hours: 10,000.
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 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: November 6, 2017.
L. Brimmer,
Senior Tax Analyst.
FR Doc. 2017-25124 Filed 11-20-17; 8:45 am
BILLING CODE 4830-01-P
