REG-104259-18 Base Erosion and Anti-Abuse Tax (BEAT)

Forms and Documents

Document Name	Status
REG-104259-18 new TCJA (003).doc Supporting Statement A	2018-12-11

IC Document Collections

IC ID	Document Title	Status
234566	REG-104259-18 Base Erosion and Anti-Abuse Tax (BEAT) Other-Federal Register Notice	New

ICR Details

OMB Control No: 1545-2285	ICR Reference No: 201812-1545-006
Status: Historical Inactive	Previous ICR Reference No:
Agency/Subagency: TREAS/IRS	Agency Tracking No:
Title: REG-104259-18 Base Erosion and Anti-Abuse Tax (BEAT)
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Comment filed on proposed rule	Conclusion Date: 04/26/2019
	Date Received in OIRA: 03/05/2019
Terms of Clearance: Pursuant to 5 CFR 1320.11(c), OMB files this comment on this information collection request (ICR). In accordance with 5 CFR 1320, OMB is withholding approval at this time. The agency shall examine public comment in response to the NPRM and will include in the supporting statement of the next ICR--to be submitted to OMB at the final rule stage--a description of how the agency has responded to any public comments on the ICR, including comments on maximizing the practical utility of the collection and minimizing the burden. The next submission to OMB must include the draft final rule.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date		36 Months From Approved
Responses	0	0	0
Time Burden (Hours)	0	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: The proposed regulations provide rules for determining the tax on base erosion payments for certain taxpayers with substantial gross receipts under §59A of the Internal Revenue Code. The record keeping requirement of proposed §1.59A-3(b)(3) is required for taxpayers to satisfy the services cost method exception to base erosion payments. Information is collected to monitor taxpayers claiming this base erosion payment exception from taxation.

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Authorizing Statute(s): US Code: 26 USC 59A Name of Law: Tax on base erosion payments of taxpayers with substantial gross receipts.
   PL: Pub.L. 115 - 97 14401 Name of Law: Tax Cuts and Jobs Act
   Statute at Large: 131 Stat. 2054 Name of Statute: Tax Cuts and Jobs Act
  

Citations for New Statutory Requirements: PL: Pub.L. 115 - 97 14401 Name of Law: Tax Cuts and Jobs Act

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
1545-BO56	Proposed rulemaking	83 FR 65956	12/21/2018

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
REG-104259-18 Base Erosion and Anti-Abuse Tax (BEAT)

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Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The Tax Cuts and Jobs Act, Public Law 115–97 (2017) (the ‘‘Act’’), which was enacted on December 22, 2017, added section 59A to the Code. Section 59A imposes on each applicable taxpayer a tax equal to the base erosion minimum tax amount for the taxable year (the ‘‘base erosion and anti-abuse tax’’ or ‘‘BEAT’’). The collections of information in these proposed regulations with respect to section 59A are in proposed §§ 1.59–3(b)(3) and 1.6038A–2. The information collection requirements pursuant to proposed § 1.59A–3(b)(3)(i)(C).

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Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).

The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(i) Why the information is being collected;

(ii) Use of information;

(iii) Burden estimate;

(iv) Nature of response (voluntary, required for a benefit, or mandatory);

(v) Nature and extent of confidentiality; and

(vi) Need to display currently valid OMB control number;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.

Certification Date: 03/05/2019

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