79 FR 169 pgs. 52115-52116 - Proposed Collection; Comment Request for Regulation Project
Type: NOTICEVolume: 79Number: 169Pages: 52115 - 52116
Pages: 52115, 52116FR document: [FR Doc. 2014-20831 Filed 8-29-14; 8:45 am]
Agency: Treasury Department
Sub Agency: Internal Revenue Service
Official PDF Version: PDF Version
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment Request for Regulation Project
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 when amounts deferred under or paid from a nonqualified deferred compensation plan are taken into account as wages for purposes of the employment taxes imposed by the Federal Insurance Contributions Act (FICA).
DATES:
Written comments should be received on or before November 3, 2014 to be assured of consideration.
ADDRESSES:
Direct all written comments to R. Joseph Durbala, Internal Revenue Service, Room 6129, 1111 Constitution Avenue NW., Washington, DC 20224.
FOR FURTHER INFORMATION CONTACT:
Requests for additional information or copies of the regulations should be directed to Sara Covington, at Internal Revenue Service, Room 6129, 1111 Constitution Avenue NW., Washington, DC 20224, or through the Internet at Sara.L.Covington@irs.gov .
SUPPLEMENTARY INFORMATION:
Title: Federal Insurance Contributions Act (FICA) Taxation of Amounts Under Employee Benefits Plan.
OMB Number: 1545-1643.
Regulation Project Number: REG-209484-87 (TD 8814-final).
Abstract: This document contains final regulations under section 3121(v)(2) of the Internal Revenue Code (Code) that provide guidance as to when amounts deferred under or paid from a nonqualified deferred compensation plan are taken into account as wages for purposes of the employment taxes imposed by the Federal Insurance Contributions Act (FICA). Section 3121(v)(2), relating to treatment of certain nonqualified deferred compensation, was added to the Code by section 324 of the Social Security Amendments of 1983. These regulations provide guidance to employers who maintain nonqualified deferred compensation plans and to participants in those plans.
Current Actions: There is no change to this existing regulation.
Type of Review: Extension of currently approved collection.
Affected Public: Business or other for-profit organizations and not-for-profit institutions.
Estimated Number of Respondents: 2,500.
Estimated Time per Respondent: 5 hours.
Estimated Total Annual Burden Hours: 12,500.
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.
[top] Request for Comments: Comments submitted in response to this notice will be summarized and/or included in the request for OMB approval. All
Approved: August 20, 2014.
R. Joseph Durbala,
IRS Supervisory Tax Analyst.
[FR Doc. 2014-20831 Filed 8-29-14; 8:45 am]
BILLING CODE 4830-01-P