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Daily Rules, Proposed Rules, and Notices of the Federal Government

DEPARTMENT OF THE TREASURY

Internal Revenue Service

Proposed Collection; Comment Request for Form 2438

AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Notice and request for comments.
SUMMARY: The Department of the Treasury, 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 proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995, Public Law 104-13 (44 U.S.C. 3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning; Form 2438, Undistributed Capital Gains Tax Return; Revenue Procedure 97-29, Model Amendments and Prototype Program for SIMPLE IRAs; Revenue Procedure 2006-30, Restaurant Tips--Attributed Tip Income Program (ATIP); and Form 13768, Electronic Tax Administration Advisory Committee Membership Application.
DATES: Written comments should be received on or before November 13, 2012 to be assured of consideration.
ADDRESSES: Direct all written comments to Yvette Lawrence, Internal Revenue Service, room 6129, 1111 Constitution Avenue NW., Washington, DC 20224. Please send separate comments for each specific information collection listed below. You must reference the information collection's title, form number, reporting or record-keeping requirement number, and OMB number (if any) in your comment.
FOR FURTHER INFORMATION CONTACT: Requests for additional information or copies of the collection tools should be directed to R. Joseph Durbala, Internal Revenue Service, room 6129, 1111 Constitution Avenue NW., Washington, DC 20224, or at (202) 622-3634, or through the Internet atRJoseph.Durbala@irs.gov.
SUPPLEMENTARY INFORMATION:

Currently, the IRS is seeking comments concerning the following information collection tools, reporting, and record-keeping requirements:

(1)Title:Undistributed Capital Gains Tax Return.

OMB Number:1545-0144.

Form Number:2438.

Abstract:Form 2438 is used by regulated investment companies to compute capital gains tax on undistributed capital gains designated under Internal Revenue Code section 852(b)(3)(D). The IRS uses this information to determine the correct tax.

Current Actions:There are no changes to the previously approved burden of this existing collection.

Type of Review:Extension of a currently approved collection.

Affected Public:Business or other for-profit organizations.

Estimated Number of Respondents:100.

Estimated Time per Respondent:9 hrs., 46 mins.

Estimated Total Annual Burden Hours:976.

(2)Title:Model Amendments and Prototype Program for SIMPLE IRAs.

OMB Number:1545-1543.

Form Number:Revenue Procedure 97-29.

Abstract:This revenue procedure (1) provides a model amendment that may be used, prior to January 1, 1999, by a sponsor of a prototype individual retirement account or annuity (IRA) to establish a SIMPLE IRA (an IRA designed to accept contributions under a SIMPLE IRA Plan described in § 408(p)) of the Internal Revenue Code; (2) provides guidance on obtaining opinion letters to drafters of prototype SIMPLE IRAs; (3) provides permissive amendments to sponsors of nonSIMPLE IRAs;(4) announces the opening of a program for prototype SIMPLE IRA Plans; and (5) provides transitional relief for users of SIMPLE IRAs and SIMPLE IRA Plans that have not been approved by the Internal Revenue Service.

Current Actions:There are no changes being made to the revenue procedure at this time.

Type of Review:Extension of a currently approved collection.

Affected Public:Business or other for-profit organizations, and not-for-profit institutions.

Estimated Number of Respondents:3,205.

Estimated Total Annual Reporting Burden Hours:25,870.

(3)Title:Restaurant Tips—Attributed Tip Income Program (ATIP).

OMB Number:1545-2005.

Form Number:Revenue Procedure 2006-30.

Abstract:This revenue procedure sets forth the requirements for participating in the Attributed Tip Income Program (ATIP). ATIP provides benefits to employers and employees similar to those offered under previous tip reporting agreements without requiring one-on-one meetings with the Service to determine tip rates or eligibility.

Current Actions:There is no change in the paperwork burden previously approved by OMB.

Type of Review:Extension of a currently approved collection.

Affected Public:Businesses and other for-profit organizations, farms.

Estimated Number of Respondents:610.

Estimated Time per Respondent:10 hours.

Estimated Total Annual Burden Hours:6,100.

(4)Title:Electronic Tax Administration Advisory Committee Membership Application.

OMB Number:1545-2231.

Form Number:Form 13768.

Abstract:The Internal Revenue Service Restructuring and Reform Act of 1998 (RRA 98) authorized the creation of the Electronic Tax Administration Advisory Committee (ETAAC). ETAAC has a primary duty of providing input to the Internal Revenue Service (IRS) on its strategic plan for electronic tax administration. Accordingly, ETAAC's responsibilities involve researching, analyzing and making recommendations on a wide range of electronic tax administration issues.

ETAAC members convey the public's perception of the IRS electronic tax administration activities, offer constructive observations about current or proposed policies, programs, and procedures, and suggest improvements.

Current Actions:There is no change in the paperwork burden previously approved by OMB.

Type of Review:Extension of a currently approved collection.

Affected Public:Businesses and other for-profit organizations.

Estimated Number of Respondents:500.

Estimated Time per Respondent:1 hour.

Estimated Total Annual Burden Hours:500.

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: September 7, 2012. Yvette Lawrence, IRS Reports Clearance Officer.