Proposed Collection; Comment Request for Form 3115, 15680-15681 [E5-1376]

Download as PDF 15680 Federal Register / Vol. 70, No. 58 / Monday, March 28, 2005 / Notices 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 forprofit organizations. Estimated Number of Respondents/ Recordkeepers: 1,000. Estimated Time Per Respondent/ Recordkeeper: 12 hours. Estimated Total Annual Reporting/ Recordkeeping Hours: 12,000. The following paragraph applies to all 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: March 16, 2005. Glenn Kirkland, IRS Reports Clearance Officer. [FR Doc. E5–1374 Filed 3–25–05; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service [REG–209484–87] Proposed Collection; Comment Request for Regulation Project Internal Revenue Service (IRS), Treasury. AGENCY: VerDate jul<14>2003 15:12 Mar 25, 2005 Jkt 205001 Notice and request for comments. ACTION: 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 an existing final regulation, REG–209484– 87 (TD 8814), Federal Insurance Contributions Act (FICA) Taxation of Amounts Under Employee Benefit Plans (§ 31.3121(v)(2)-1). DATES: Written comments should be received on or before May 27, 2005, to be assured of consideration. ADDRESSES: Direct all written comments to Glenn Kirkland, Internal Revenue Service, room 6512, 1111 Constitution Avenue, NW., Washington, DC 20224. FOR FURTHER INFORMATION CONTACT: Requests for additional information or copies of the regulations should be directed to Larnice Mack at Internal Revenue Service, room 6512, 1111 Constitution Avenue, NW., Washington, DC 20224, or at (202)622–3179, or through the Internet at Larnice.Mack@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. Abstract: This regulation provides 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 Compensation Act (FICA). Current Actions: There is no change to this existing regulation. Type of Review: Extension of currently approved collection. Affected Public: Business or other forprofit 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 PO 00000 Frm 00068 Fmt 4703 Sfmt 4703 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: March 18, 2005. Glenn Kirkland, IRS Reports Clearance Officer. [FR Doc. E5–1375 Filed 3–25–05; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Form 3115 Internal Revenue Service (IRS), Treasury. AGENCY: Notice and request for comments. ACTION: 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 3115, Application for Change in Accounting Method. E:\FR\FM\28MRN1.SGM 28MRN1 Federal Register / Vol. 70, No. 58 / Monday, March 28, 2005 / Notices Written comments should be received on or before May 27, 2005, to be assured of consideration. ADDRESSES: Direct all written comments to Glenn Kirkland, Internal Revenue Service, room 6516, 1111 Constitution Avenue, NW., Washington, DC 20224. FOR FURTHER INFORMATION CONTACT: Requests for additional information or copies of the form and instructions should be directed to Allan Hopkins, at (202) 622–6665, or at Internal Revenue Service, room 6516, 1111 Constitution Avenue, NW., Washington, DC 20224, or through the Internet, at Allan.M.Hopkins@irs.gov. 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. SUPPLEMENTARY INFORMATION: BILLING CODE 4830–01–P DATES: Title: Application for Change in Accounting Method. OMB Number: 1545–0152. Form Number: 3115. Abstract: Form 3115 is used by taxpayers who wish to change their method of computing their taxable income. The form is used by the IRS to determine if electing taxpayers have met the requirements and are able to change to the method requested. Current Actions: There are no changes being made to the form at this time. Type of Review: Extension of a currently approved collection. Affected Public: Business or other forprofit organizations, individuals, notfor-profit organizations, and farms. Estimated Number of Respondents: 25,000. Estimated Time Per Respondent: 53 hrs., 33 min. Estimated Total Annual Burden Hours: 1,388,850. 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 VerDate jul<14>2003 15:12 Mar 25, 2005 Jkt 205001 Approved: March 18, 2005. Glenn Kirkland, IRS Reports Clearance Officer. [FR Doc. E5–1376 Filed 3–25–05; 8:45 am] DEPARTMENT OF THE TREASURY Office of the Comptroller of the Currency [Docket No. 05–08] Office of Thrift Supervision [No. 2005–14] FEDERAL RESERVE SYSTEM [Docket No. OP–1227] FEDERAL DEPOSIT INSURANCE CORPORATION Interagency Proposal on the Classification of Commercial Credit Exposures AGENCIES: Office of the Comptroller of the Currency, Treasury, (OCC); Board of Governors of the Federal Reserve System (Board); Federal Deposit Insurance Corporation (FDIC); and Office of Thrift Supervision, Treasury, (OTS). ACTION: Joint notice and request for comment. SUMMARY: The OCC, Board, FDIC, and OTS (the agencies) request comment on their proposal to revise the classification system for commercial credit exposures. The proposal will replace the current commercial loan classification system categories ‘‘special mention,’’ ‘‘substandard,’’ and ‘‘doubtful’’ with a two-dimensional based framework. The proposed framework would be used by institutions and supervisors for the uniform classification of commercial and industrial loans; leases; receivables; mortgages; and other extensions of credit made for business purposes by federally insured depository institutions and their subsidiaries (institutions), based on an assessment of borrower creditworthiness and estimated loss severity. The proposed framework PO 00000 Frm 00069 Fmt 4703 Sfmt 4703 15681 would not modify the interagency classification of retail credit as stated in the ‘‘Uniform Retail Credit Classification and Account Management Policy Statement,’’ issued in February 2000. However, by creating a new treatment for commercial loan exposures, the proposed framework would modify Part I of the ‘‘Revised Uniform Agreement on the Classification of Assets and Appraisal of Securities Held by Banks and Thrifts’ issued in June 2004. This proposal is intended to enhance the methodology used to systematically assess the level of credit risk posed by individual commercial extensions of credit and the level of an institution’s aggregate commercial credit risk. DATES: Comments must be received by June 30, 2005. ADDRESSES: Interested parties are invited to submit written comments to any or all of the agencies. All comments will be shared among the agencies. Comments should be directed to: OCC: You should include OCC and Docket Number 05–08 in your comment. You may submit comments by any of the following methods: • Federal eRulemaking Portal: http:// www.regulations.gov. Follow the instructions for submitting comments. • OCC Web Site: http:// www.occ.treas.gov. Click on ‘‘Contact the OCC,’’ scroll down and click on ‘‘Comments on Proposed Regulations.’’ • E-mail address: regs.comments@occ.treas.gov. • Fax: (202) 874–4448. • Mail: Office of the Comptroller of the Currency, 250 E Street, SW., Mail Stop 1–5, Washington, DC 20219. • Hand Delivery/Courier: 250 E Street, SW., Attn: Public Information Room, Mail Stop 1–5, Washington, DC 20219. Instructions: All submissions received must include the agency name (OCC) and docket number or Regulatory Information Number (RIN) for this notice of proposed rulemaking. In general, OCC will enter all comments received into the docket without change, including any business or personal information that you provide. You may review comments and other related materials by any of the following methods: • Viewing Comments Personally: You may personally inspect and photocopy comments at the OCC’s Public Information Room, 250 E Street, SW., Washington, DC. You can make an appointment to inspect comments by calling (202) 874–5043. • Viewing Comments Electronically: You may request e-mail or CD–ROM E:\FR\FM\28MRN1.SGM 28MRN1

Agencies

[Federal Register Volume 70, Number 58 (Monday, March 28, 2005)]
[Notices]
[Pages 15680-15681]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E5-1376]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Form 3115

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 3115, Application for Change in Accounting Method.

[[Page 15681]]


DATES: Written comments should be received on or before May 27, 2005, 
to be assured of consideration.

ADDRESSES: Direct all written comments to Glenn Kirkland, Internal 
Revenue Service, room 6516, 1111 Constitution Avenue, NW., Washington, 
DC 20224.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the form and instructions should be directed to Allan 
Hopkins, at (202) 622-6665, or at Internal Revenue Service, room 6516, 
1111 Constitution Avenue, NW., Washington, DC 20224, or through the 
Internet, at Allan.M.Hopkins@irs.gov.

SUPPLEMENTARY INFORMATION:
    Title: Application for Change in Accounting Method.
    OMB Number: 1545-0152.
    Form Number: 3115.
    Abstract: Form 3115 is used by taxpayers who wish to change their 
method of computing their taxable income. The form is used by the IRS 
to determine if electing taxpayers have met the requirements and are 
able to change to the method requested.
    Current Actions: There are no changes being made to the form at 
this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations, 
individuals, not-for-profit organizations, and farms.
    Estimated Number of Respondents: 25,000.
    Estimated Time Per Respondent: 53 hrs., 33 min.
    Estimated Total Annual Burden Hours: 1,388,850.
    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: March 18, 2005.
Glenn Kirkland,
IRS Reports Clearance Officer.
[FR Doc. E5-1376 Filed 3-25-05; 8:45 am]
BILLING CODE 4830-01-P