December 31, 2007 – Federal Register Recent Federal Regulation Documents

This document contains proposed amendments to regulations relating to employment tax adjustments and employment tax refund claims. These proposed amendments modify the process for making interest-free adjustments for both underpayments and overpayments of Federal Insurance Contributions Act (FICA) and Railroad Retirement Tax Act (RRTA) taxes and Federal income tax withholding (ITW) under sections 6205(a) and 6413(a), respectively, of the Internal Revenue Code (Code). These proposed amendments also modify the process for filing claims for refund of overpayments of employment taxes under sections 6402 and 6414. These amendments are proposed in connection with the IRS's development of new forms to report adjustments to employment taxes which will replace the existing process of reporting adjustments of employment taxes on regularly filed employment tax returns. These proposed amendments affect taxpayers that file Form 941, ``Employer's QUARTERLY Federal Tax Return,'' Form 943, ``Employer's Annual Tax Return for Agricultural Employees,'' Form 944, ``Employer's ANNUAL Federal Tax Return,'' Form 945, ``Annual Return of Withheld Federal Income Tax,'' and Form CT-1, ``Employer's Annual Railroad Retirement Tax Return,'' and any related Spanish-language returns or returns for U.S. possessions. This document contains proposed amendments to regulations relating to the return requirements under section 6011 to reflect the changes to the adjustment and refund processes, and to reflect additional statutory and process updates. This document also contains proposed amendments to the regulations under section 6302 to clarify deposit obligations with respect to interest-free adjustments of underpayments and the effect of adjustments and refunds on the deposit schedule of a Form 943 filer. This document also provides notice of a public hearing on these proposed amendments to the regulations.

In the Rules and Regulations section of this issue of the Federal Register, the IRS is issuing a regulation that would add an additional item of return information that may be disclosed to the Bureau of the Census (Bureau) for use in the Bureau's annual Survey of Industrial Research and Development. This proposed regulation provides guidance to IRS personnel responsible for disclosing the information. This regulation facilitates the assistance of the IRS to the Bureau in its statistics programs and requires no action by taxpayers and has no effect on their tax liabilities.

This rule establishes, amends, suspends, or revokes Standard Instrument Approach Procedures (SIAPs) and associated Takeoff Minimums and Obstacle Departure Procedures for operations at certain airports. These regulatory actions are needed because of the adoption of new or revised criteria, or because of changes occurring in the National Airspace System, such as the commissioning of new navigational facilities, adding new obstacles, or changing air traffic requirements. These changes are designed to provide safe and efficient use of the navigable airspace and to promote safe flight operations under instrument flight rules at the affected airports.

In accordance with section 122(i) of the Comprehensive Environmental Response, Compensation, and Liability Act, as amended (``CERCLA''), 42 U.S.C. 9622(i), notice is hereby given of a proposed administrative settlement which includes compromise of past response costs incurred in connection with the Mason Road Lead site in Mason Ohio with the Board of Education Mason of Mason City School District. The settlement requires Settling Party to reimburse U.S. EPA Hazardous Substance Superfund $15,917.36 for costs incurred by U.S. EPA since December 11, 2004, through the effective date of this Administrative Order on Consent to oversee the clean-up of the Mason Road Lead site. The total past costs incurred between December 11, 2004, and December 9, 2006, are $19,896.70 and are being compromised in consideration of the settling party having completed a removal action under the terms of a Unilateral Administrative Order Docket No: V-W-04-C-803 issued pursuant to CERCLA section 106(a), 42 U.S.C. 9607(a). The settlement includes a covenant not to sue the settling party pursuant to section 107(a) of CERCLA, 42 U.S.C. 9607(a). For thirty (30) days following the date of publication of this notice, the Agency will receive written comments relating to the settlement. The Agency will consider all comments received and may modify or withdraw its consent to the settlement if comments received disclose facts or considerations with indicate that the settlement is inappropriate, improper, or inadequate. The U.S. EPA's response to any comments received will be available for public inspection at the U.S. EPA Record Center, Room 714, U.S. EPA, 77 West Jackson boulevard, Chicago, Illinois.

The FAA publishes a monthly notice, as appropriate, of PFC approvals and disapprovals under the provisions of the Aviation Safety and Capacity Expansion Act of 1990 (Title IX of the Omnibus Budget Reconciliation Act of 1990) (Pub. L. 101-508) and Part 158 of the Federal Aviation Regulations (14 CFR part 158). This notice is published pursuant to paragraph d of Sec. 158.29.

In accordance with the Paperwork Reduction Act of 1980 (44 U.S.C. Chapter 35), the Appraisal Subcommittee of the Federal Financial Institutions Examination Council (``ASC'') will submit to the Office of Management and Budget (``OMB'') for clearance the following information collection, without change from a previously approved collection.

In accordance with the Paperwork Reduction Act of 1980 (44 U.S.C. Chapter 35), the Appraisal Subcommittee of the Federal Financial Institutions Examination Council (``ASC'') will submit to the Office of Management and Budget (``OMB'') for clearance the following information collection, without change from a previously approved collection.

This notice announces action taken by the USACE that is final within the meaning of 23 U.S.C. 139(l)(1). The action relates to a proposed highway project, Sandpoint North and South, Federal-aid Project No. DHP-NH-IR-CM-F-5116(068), Idaho Department of Transportation (ITD) Key No. 1729, Sandpoint in Bonner County in the State of Idaho. The action grants a Clean Water Act (CWA), section 404 permit for the project, pursuant to 33 U.S.C. 1344.

For the period beginning January 1, 2008, and ending on June 30, 2008, the prompt payment interest rate and the contract disputes interest rate is 4-\3/4\ per centum per annum.