Reporting of Specified Foreign Financial Assets; Correction, 9877-9878 [2012-3933]

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srobinson on DSK4SPTVN1PROD with PROPOSALS Federal Register / Vol. 77, No. 34 / Tuesday, February 21, 2012 / Proposed Rules last 21 NM of the airway; terminating the route at the existing RUGBB fix, shared with V–502. Ending the modified V–508 at the RUGBB fix would provide eastbound IFR aircraft with the ability to continue to destinations further east or northeast via transition from V–508 to V–502. VOR Federal airways are published in paragraph 6010(a) of FAA Order 7400.9V dated August 9, 2011, and effective September 15, 2011, which is incorporated by reference in 14 CFR 71.1. The VOR Federal Airways listed in this document would be subsequently published in the Order. The FAA has determined that this proposed regulation only involves an established body of technical regulations for which frequent and routine amendments are necessary to keep them operationally current. Therefore, this proposed regulation: (1) Is not a ‘‘significant regulatory action’’ under Executive Order 12866; (2) is not a ‘‘significant rule’’ under Department of Transportation (DOT) Regulatory Policies and Procedures (44 FR 11034; February 26, 1979); and (3) does not warrant preparation of a regulatory evaluation as the anticipated impact is so minimal. Since this is a routine matter that will only affect air traffic procedures and air navigation, it is certified that this proposed rule, when promulgated, will not have a significant economic impact on a substantial number of small entities under the criteria of the Regulatory Flexibility Act. The FAA’s authority to issue rules regarding aviation safety is found in Title 49 of the United States Code. Subtitle I, Section 106 describes the authority of the FAA Administrator. Subtitle VII, Aviation Programs, describes in more detail the scope of the agency’s authority. This rulemaking is promulgated under the authority described in Subtitle VII, Part A, Subpart I, Section 40103. Under that section, the FAA is charged with prescribing regulations to assign the use of the airspace necessary to ensure the safety of aircraft and the efficient use of airspace. This regulation is within the scope of that authority as it proposes to modify VOR Federal Airways in the vicinity of Olathe, KS. Environmental Review This proposal will be subject to an environmental analysis in accordance with FAA Order 1050.1E, ‘‘Environmental Impacts: Policies and Procedures,’’ prior to any FAA final regulatory action. VerDate Mar<15>2010 16:43 Feb 17, 2012 Jkt 226001 List of Subjects in 14 CFR Part 71 Airspace, Incorporation by reference, Navigation (air). The Proposed Amendment In consideration of the foregoing, the Federal Aviation Administration proposes to amend 14 CFR part 71 as follows: PART 71—DESIGNATION OF CLASS A, B, C, D, AND E AIRSPACE AREAS; AIR TRAFFIC SERVICE ROUTES; AND REPORTING POINTS 9877 V–508 [Amended] From Hill City, KS; Hays, KS; Salina, KS, INT Salina 082° and Manhattan, KS, 207° radials; Manhattan; INT Manhattan 078° and Topeka, KS, 293° radials; Topeka; to INT Topeka 112°(T)/107°(M) and Kansas City, MO, 228°(T)/223°(M) radials. Issued in Washington, DC, on February 9, 2012. Gary A. Norek, Acting Manager, Airspace, Regulations & ATC Procedures Group. [FR Doc. 2012–3820 Filed 2–17–12; 8:45 am] BILLING CODE 4910–13–P 1. The authority citation for part 71 continues to read as follows: Authority: 49 U.S.C. 106(g), 40103, 40113, 40120; E.O. 10854, 24 FR 9565, 3 CFR, 1959– 1963 Comp., p. 389. DEPARTMENT OF THE TREASURY § 71.1 26 CFR Part 1 [Amended] 2. The incorporation by reference in 14 CFR 71.1 of the FAA Order 7400.9V, Airspace Designations and Reporting Points, dated August 9, 2011, and effective September 15, 2011, is amended as follows: Paragraph 6010(a) airways. * * * Domestic VOR federal * * * * * V–12 [Amended] From Gaviota, CA; San Marcus, CA; Palmdale, CA; 38 miles, 6 miles wide, Hector, CA; 12 miles, 38 miles, 85 MSL, 14 miles, 75 MSL, Needles, CA; 45 miles, 34 miles, 95 MSL, Drake, AZ; Winslow, AZ; 30 miles, 85 MSL, Zuni, NM; Albuquerque, NM; Otto, NM; Anton Chico, NM; Tucumcari, NM; Amarillo, TX; Mitbee, OK; Anthony, KS; Wichita, KS; Emporia, KS; INT Emporia 063°(T)/055°(M) and Napoleon, MO, 242°(T)/ 235°(M) radials; Napoleon; INT Napoleon 095° and Columbia, MO, 292° radials; Columbia; Foristell, MO; Troy, IL; Bible Grove, IL; Shelbyville, IN; Richmond, IN; Dayton, OH; Appleton, OH; Newcomerstown, OH; Allegheny, PA; Johnstown, PA; Harrisburg, PA; INT Harrisburg 092° and Pottstown, PA, 278° radials; to Pottstown. * PO 00000 * * Frm 00010 * Fmt 4702 * Sfmt 4702 [REG–130302–10] RIN 1545–BJ69 Reporting of Specified Foreign Financial Assets; Correction Internal Revenue Service (IRS). Proposed rule; correction. AGENCY: * V–10 [Amended] From Pueblo, CO; 18 miles, 48 miles, 60 MSL, Lamar, CO; Garden City, KS; Dodge City, KS; Hutchinson, KS; Emporia, KS; INT Emporia 063°(T)/055°(M) and Napoleon, MO, 242°(T)/235°(M) radials; Napoleon; Kirksville, MO; Burlington, IA; Bradford, IL; to INT Bradford 058° and Joliet, IL, 287° radials. From INT Chicago Heights, IL, 358° and Gipper, MI, 271° radials; Gipper; Litchfield, MI; INT Litchfield 101° and Carleton, MI, 262° radials; Carleton; INT Jefferson, OH, 279° and Youngstown, OH, 320° radials; Youngstown; INT Youngstown 116° and Revloc, PA, 300° radials; Revloc; INT Revloc 107° and Lancaster, PA, 280° radials; to Lancaster. The airspace within Canada is excluded. * Internal Revenue Service ACTION: This document contains corrections to a notice of proposed rulemaking (REG–130302–10), which was published in the Federal Register on Monday, December 19, 2011, relating to the reporting of specified foreign financial assets. FOR FURTHER INFORMATION CONTACT: Joseph S. Henderson (202) 622–3880 (not a toll-free number). SUPPLEMENTARY INFORMATION: SUMMARY: Background The notice of proposed rulemaking that is the subject of these corrections are under section 6038 of the Internal Revenue Code. Need for Correction As published on December 19, 2011, (76 FR 78594), the notice of proposed rulemaking (REG–130302–10), contains errors which may prove to be misleading and are in need of clarification. List of Subjects in 26 CFR Part 1 Income taxes, Reporting and recordkeeping requirements. PART 1—INCOME TAXES Paragraph 1. The authority citation for part 1 continues to read in part as follows: Authority: 26 U.S.C. 7805 * * * E:\FR\FM\21FEP1.SGM 21FEP1 9878 Federal Register / Vol. 77, No. 34 / Tuesday, February 21, 2012 / Proposed Rules PART 1—[CORRECTED] Par. 2. Section 1.6038D–6 is amended by revising paragraph (d)(3) to read as follows: § 1.6038D–6 Specified domestic entities. * * * * * (d) * * * (3) * * * A trust described in section 7701(a)(30)(E) to the extent such trust or any portion thereof is treated as owned by one or more specified persons under sections 671 through 678 and the regulations issued under those sections. * * * * * Guy R. Traynor, Federal Register Liaison, Legal Processing Division, Publications and Regulations Br., Procedure and Administration. [FR Doc. 2012–3933 Filed 2–17–12; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF JUSTICE 28 CFR Part 16 [CPCLO Order No. 003–2012] Privacy Act of 1974; Implementation Department of Justice. Notice of proposed rulemaking. AGENCY: ACTION: Elsewhere in the Federal Register, the Department of Justice (DOJ or Department) has published a notice of a new Department-wide Privacy Act system of records, Debt Collection Enforcement System, JUSTICE/DOJ– 016. In this notice of proposed rulemaking, the DOJ proposes to exempt certain records in this system from certain provisions of the Privacy Act in order to avoid interference with the law enforcement functions and responsibilities of the DOJ. Public comment is invited. DATES: Comments must be received by March 22, 2012. ADDRESSES: Address all comments to the Department of Justice, ATTN: Privacy Analyst, Office of Privacy and Civil Liberties, National Place Building, 1331 Pennsylvania Avenue NW., Suite 1000, Washington, DC 20530, or facsimile (202) 307–0693. To ensure proper handling, please reference the CPCLO Order number in your correspondence. You may review an electronic version of the proposed rule at http://www.regulations.gov. You may also submit a comment via the Internet by emailing DOJPrivacyActProposed Regulations@usdoj.gov or by using the comment form for this regulation at http://www.regulation.gov. Please include the CPCLO Order number in the subject box. srobinson on DSK4SPTVN1PROD with PROPOSALS SUMMARY: VerDate Mar<15>2010 16:43 Feb 17, 2012 Jkt 226001 Please note that the Department is requesting that electronic comments be submitted before midnight Eastern standard time on the day the comment period closes because http:// www.regulations.gov terminates the public’s ability to submit comments at that time. Commenters in time zones other than Eastern standard time may want to consider this so that their electronic comments are received. All comments sent via regular or express mail will be considered timely if postmarked on the day the comment period closes. Posting of Public Comments: Please note that all comments received are considered part of the public record and made available for public inspection online at http://www.regulations.gov and in the Department’s public docket. Such information includes personally identifying information (such as your name, address, etc.) voluntarily submitted by the commenter. If you want to submit personally identifying information (such as your name, address, etc.) as part of your comment but do not want it to be posted online or made available in the public docket, you must include the term ‘‘PERSONALLY IDENTIFYING INFORMATION’’ in the first paragraph of your comment. You must also place all the personally identifying information you do not want posted online or made available in the public docket in the first paragraph of your comment and identify what information you want redacted. If you want to submit confidential business information as part of your comment but do not want it to be posted online or made available in the public docket, you must include the term ‘‘CONFIDENTIAL BUSINESS INFORMATION’’ in the first paragraph of your comment. You must also prominently identify confidential business information to be redacted within the comment. If a comment has so much confidential business information that it cannot be effectively redacted, all or part of that comment may not be posted online or made available in the public docket. Personally identifying information and confidential business information identified and located as set forth above will be redacted and the comment, in redacted form, will be posted online and placed in the Department’s public docket file. Please note that the Freedom of Information Act applies to all comments received. If you wish to inspect the agency’s public docket file in person by appointment, please see the FOR FURTHER INFORMATION CONTACT paragraph. PO 00000 Frm 00011 Fmt 4702 Sfmt 4702 FOR FURTHER INFORMATION CONTACT: Holley B. O’Brien, Director, Debt Collection Management Staff, Justice Management Division, Department of Justice, at (202) 514–5343. SUPPLEMENTARY INFORMATION: In the Notice section of today’s Federal Register, the DOJ published a new Department-wide Privacy Act system of records, Debt Collection Enforcement System, JUSTICE/DOJ–016, to reflect the consolidation of the Department’s debt collection enforcement systems, that were previously maintained in various individual DOJ components, into a single, centralized system. This system of records is maintained by the Department of Justice to cover records used by the Department’s components or offices, and/or contract private counsel retained by DOJ to perform legal, financial and administrative services associated with the collection of debts due the United States, including related negotiation, settlement, litigation, and enforcement efforts. In this rulemaking, the DOJ proposes to exempt certain records in this Privacy Act system of records from certain provisions of the Privacy Act because the system contains material compiled for law enforcement purposes. Regulatory Flexibility Act This proposed rule relates to individuals, as opposed to small business entities. Pursuant to the requirements of the Regulatory Flexibility Act, 5 U.S.C. 601–612, the proposed rule will not have a significant economic impact on a substantial number of small entities. Paperwork Reduction Act The Paperwork Reduction Act of 1995, 44 U.S.C. 3507(d), requires that the DOJ consider the impact of paperwork and other information collection burdens imposed on the public. There are no current or new information collection requirements associated with this proposed rule. The records that are contributed to the Debt Collection Enforcement system would be created in any event by law enforcement entities and their sharing of this information electronically will not increase the paperwork burden on the public. Unfunded Mandates Title II of the Unfunded Mandates Reform Act of 1995 (UMRA), Public Law 104–4, 109 Stat. 48, requires Federal agencies to assess the effects of certain regulatory actions on State, local, and tribal governments, and the private sector. UMRA requires a written E:\FR\FM\21FEP1.SGM 21FEP1

Agencies

[Federal Register Volume 77, Number 34 (Tuesday, February 21, 2012)]
[Proposed Rules]
[Pages 9877-9878]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-3933]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[REG-130302-10]
RIN 1545-BJ69


Reporting of Specified Foreign Financial Assets; Correction

AGENCY: Internal Revenue Service (IRS).

ACTION: Proposed rule; correction.

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SUMMARY: This document contains corrections to a notice of proposed 
rulemaking (REG-130302-10), which was published in the Federal Register 
on Monday, December 19, 2011, relating to the reporting of specified 
foreign financial assets.

FOR FURTHER INFORMATION CONTACT: Joseph S. Henderson (202) 622-3880 
(not a toll-free number).

SUPPLEMENTARY INFORMATION: 

Background

    The notice of proposed rulemaking that is the subject of these 
corrections are under section 6038 of the Internal Revenue Code.

Need for Correction

    As published on December 19, 2011, (76 FR 78594), the notice of 
proposed rulemaking (REG-130302-10), contains errors which may prove to 
be misleading and are in need of clarification.

List of Subjects in 26 CFR Part 1

    Income taxes, Reporting and recordkeeping requirements.

PART 1--INCOME TAXES

    Paragraph 1. The authority citation for part 1 continues to read in 
part as follows:

    Authority: 26 U.S.C. 7805 * * *

[[Page 9878]]

PART 1--[CORRECTED]

    Par. 2. Section 1.6038D-6 is amended by revising paragraph (d)(3) 
to read as follows:


Sec.  1.6038D-6  Specified domestic entities.

* * * * *
    (d) * * *
    (3) * * * A trust described in section 7701(a)(30)(E) to the extent 
such trust or any portion thereof is treated as owned by one or more 
specified persons under sections 671 through 678 and the regulations 
issued under those sections.
* * * * *

Guy R. Traynor,
Federal Register Liaison, Legal Processing Division, Publications and 
Regulations Br., Procedure and Administration.
[FR Doc. 2012-3933 Filed 2-17-12; 8:45 am]
BILLING CODE 4830-01-P