Safety Zone; Milwaukee Harbor, Milwaukee, WI, 52788-52789 [E8-21223]
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Federal Register / Vol. 73, No. 177 / Thursday, September 11, 2008 / Rules and Regulations
reportable transactions and complying
with other tax laws.
(iv) The taxpayer demonstrates that
the failure to include on any return or
statement any information required to
be disclosed under section 6011 arose
from events beyond the taxpayer’s
control.
(v) The taxpayer cooperates with the
IRS by providing timely information
with respect to the transaction at issue
that the Commissioner (or the
Commissioner’s delegate) may request
in consideration of the rescission
request. In considering whether a
taxpayer cooperates with the IRS, the
Commissioner (or the Commissioner’s
delegate) will take into account whether
the taxpayer meets the deadlines
described in Rev. Proc. 2007–21 (or
successor document) (see
§ 601.601(d)(2)(ii)(b) of this chapter) for
complying with requests for additional
information.
(vi) Assessment of the penalty weighs
against equity and good conscience,
including whether the penalty is
disproportionate to the tax benefit
received and whether the taxpayer
demonstrates that there was reasonable
cause for, and the taxpayer acted in
good faith with respect to, the failure to
timely file or to include on any return
any information required to be disclosed
under section 6011. An important factor
in determining reasonable cause and
good faith is the extent of the taxpayer’s
efforts to ensure that persons who
prepared the taxpayer’s return were
informed of the taxpayer’s participation
in the reportable transactions. The
presence of reasonable cause, however,
will not necessarily be determinative of
whether to grant rescission.
(4) Absence of favorable factors
weighs against rescission. The absence
of facts establishing the factors
described in paragraph (d)(3) of this
section weighs against granting
rescission. The absence of any one of
these factors, however, will not
necessarily be determinative of whether
to grant rescission.
(5) Factors not considered. In
determining whether to grant rescission,
the Commissioner (or the
Commissioner’s delegate) will not
consider doubt as to liability for, or
collectibility of, the penalties.
(e) Reports to the Securities and
Exchange Commission (SEC)—(1) In
general. Under section 6707A(e), a
taxpayer who is required to file periodic
reports under section 13 or 15(d) of the
Securities Exchange Act of 1934 (or is
required to file consolidated reports
with another person) must disclose in
periodic reports filed with the SEC the
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13:31 Sep 10, 2008
Jkt 214001
requirement to pay each of the following
penalties:
(i) The penalty imposed by section
6707A(a) in the amount of $200,000 for
failure to disclose a listed transaction.
(ii) The accuracy-related penalty
imposed by section 6662A(a) at the 30percent rate determined under section
6662A(c) for a reportable transaction
understatement with respect to which
the relevant facts affecting the tax
treatment of the reportable transaction
were not adequately disclosed in
accordance with regulations prescribed
under section 6011.
(iii) The accuracy-related penalty
imposed by section 6662(a) at the 40percent rate determined under section
6662(h) for a gross valuation
misstatement, if the taxpayer (but for the
exclusionary rule of section
6662A(e)(2)(C)(ii)) would have been
subject to the accuracy-related penalty
under section 6662A(a) at the 30percent rate determined under section
6662A(c).
(iv) The penalty described in
paragraph (e)(3) of this section for
failure to disclose in periodic reports
filed with the SEC the requirement to
pay any of the penalties described in
paragraphs (e)(1)(i) through (iii) or (e)(3)
of this section.
(2) Manner and content of disclosure.
The Secretary may prescribe the manner
in which disclosure of the requirement
to pay the penalties identified in
paragraph (e)(1) of this section must be
made on reports filed with the SEC,
including identification of the specific
SEC form and section thereof in which
the taxpayer must make the disclosure
as well as specification of the timing
and contents of the disclosure, by
publishing a revenue procedure or other
guidance in the Internal Revenue
Bulletin.
(3) Penalty for failure to disclose in
SEC filings. Any taxpayer who is
required to file periodic reports under
section 13 or 15(d) of the Securities
Exchange Act of 1934 (or is required to
file consolidated reports with another
person) may be subject to a penalty in
the amount of $200,000 for each failure
to disclose the requirement to pay a
penalty identified in paragraphs (e)(1)(i)
through (e)(1)(iii) of this section in the
manner specified by revenue procedure
or other guidance published in the
Internal Revenue Bulletin. The taxpayer
also may be subject to an additional
penalty in the amount of $200,000 for
each failure to disclose a penalty arising
under this section in the manner
specified by revenue procedure or other
guidance published in the Internal
Revenue Bulletin. The penalty provided
by this paragraph is not subject to
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rescission as described in paragraph (d)
of this section.
(f) Effective/applicability date—(1)
The rules of this section apply to
disclosure statements that are due after
September 11, 2008.
(2) The applicability of this section
expires on or before September 9, 2011.
L.E. Stiff,
Deputy Commissioner for Services and
Enforcement.
Approved: September 5, 2008.
Eric Solomon,
Assistant Secretary of the Treasury, (Tax
Policy).
[FR Doc. E8–21161 Filed 9–10–08; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF HOMELAND
SECURITY
Coast Guard
33 CFR Part 165
[Docket No. USCG–2008–0900]
Safety Zone; Milwaukee Harbor,
Milwaukee, WI
Coast Guard, DHS.
Notice of enforcement of
regulation.
AGENCY:
ACTION:
SUMMARY: The Coast Guard will enforce
the Milwaukee Harbor Safety Zone in
Milwaukee Harbor from 8:30 p.m.
through 8:45 p.m. on September 29,
2008. This action is necessary to protect
vessels and people from the hazards
associated with fireworks displays. This
safety zone will restrict vessel traffic
from portions of the Captain of the Port
Lake Michigan Zone.
DATES: The regulation in 33 CFR
165.935 will be enforced from 8:30 p.m.
through 8:45 p.m. on September 29,
2008.
FOR FURTHER INFORMATION CONTACT:
Petty Officer Eric Vogel, Prevention
Department, Coast Guard Sector Lake
Michigan, Milwaukee, WI at (414) 747–
7154.
SUPPLEMENTARY INFORMATION: The Coast
Guard will enforce Safety Zone,
Milwaukee Harbor, Milwaukee, WI, 33
CFR 165.935 for the following event:
Milwaukee Brewers Rally Monday, on
September 29, 2008, from 8:30 p.m.
through 8:45 p.m.
All vessels must obtain permission
from the Captain of the Port or his
designated representative to enter, move
within, or exit the safety zone. Vessels
and persons granted permission to enter
the safety zone shall obey all lawful
orders or directions of the Captain of the
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Federal Register / Vol. 73, No. 177 / Thursday, September 11, 2008 / Rules and Regulations
Port or his designated representative.
While within a safety zone, all vessels
shall operate at the minimum speed
necessary to maintain a safe course.
This notice is issued under authority
of 33 CFR 165.935 Safety Zone,
Milwaukee Harbor, Milwaukee, WI, and
5 U.S.C. 552(a). In addition to this
notice in the Federal Register, the Coast
Guard will provide the maritime
community with advance notification of
these enforcement periods via broadcast
Notice to Mariners or Local Notice to
Mariners.
The Captain of the Port or designated
representative may be contacted via U.S.
Coast Guard Sector Lake Michigan on
channel 16, VHF–FM.
Dated: August 27, 2008.
Bruce C. Jones,
Captain, U.S. Coast Guard, Captain of the
Port Lake Michigan.
[FR Doc. E8–21223 Filed 9–10–08; 8:45 am]
BILLING CODE 4910–15–P
DEPARTMENT OF HOMELAND
SECURITY
Coast Guard
46 CFR Parts 10 and 15
[Docket No. USCG–2006–26202]
RIN 1625–AB10
Training and Service Requirements for
Merchant Marine Officers
Coast Guard, DHS.
Final rule.
AGENCY:
rmajette on PRODPC74 with RULES
ACTION:
SUMMARY: The Coast Guard amends
certain regulations relating to mariner
training and service. These regulatory
changes remove the expiration date of
the radar-observer endorsement from
the merchant mariner’s license, allow
for an apprentice mate of towing vessels
to reduce sea-service time for mate
(pilot) of towing vessels by completing
additional approved training, and
provide an alternate path to mate (pilot)
of towing vessels for master of steam or
motor vessels of any tonnage that is 200
GRT or less. These changes are intended
and expected to eliminate confusion
and provide alternate training and
service requirements for mate (pilot) of
towing vessels.
DATES: This final rule is effective
October 14, 2008.
ADDRESSES: Comments and material
received from the public, as well as
documents mentioned in this preamble
as being available in the docket, are part
of docket USCG–2006–26202 and are
available for inspection or copying at
the Docket Management Facility (M–30),
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13:31 Sep 10, 2008
Jkt 214001
U.S. Department of Transportation,
West Building Ground Floor, Room
W12–140, 1200 New Jersey Avenue, SE.,
Washington, DC 20590, between 9 a.m.
and 5 p.m., Monday through Friday,
except Federal holidays. You may also
find this docket on the Internet at
https://www.regulations.gov.
FOR FURTHER INFORMATION CONTACT: If
you have questions on this rule, call
Commander Kelly Post or Mr. Gerald
Miante, CG–5221, Coast Guard,
telephone 202–372–1401. If you have
questions on viewing the docket, call
Ms. Renee V. Wright, Program Manager,
Docket Operations, telephone 202–366–
9826.
SUPPLEMENTARY INFORMATION:
Table of Contents
I. Table of Abbreviations
II. Regulatory History
III. Background and Purpose
IV. Discussion of Comments and Changes
V. Regulatory Evaluation
A. Executive Order 12866
B. Small Entities
C. Assistance for Small Entities
D. Collection of Information
E. Federalism
F. Unfunded Mandates Reform Act
G. Taking of Private Property
H. Civil Justice Reform
I. Protection of Children
J. Indian Tribal Governments
K. Energy Effects
L. Technical Standards
M. Environment
I. Table of Abbreviations
GRT Gross Register Tons
MMC Merchant Mariner’s Credential
NPRM Notice of Proposed Rulemaking
OSV Offshore Supply Vessel
SNPRM Supplemental Notice of
Proposed Rulemaking
TOAR Towing Officer Assessment
Record
TSAC Towing Safety Advisory
Committee
II. Regulatory History
On September 17, 2007, we published
a Notice of Proposed Rulemaking
(NPRM) entitled ‘‘Training and Service
Requirements for Merchant Marine
Officers’’ in the Federal Register (72 FR
52841). The comment period closed on
December 17, 2007. We received a total
of 14 comments on the NPRM. No
public meeting was requested, and none
was held.
III. Background and Purpose
The revisions contained within this
final rule: (1) Remove the expiration
date of the radar-observer endorsement
from the merchant mariner’s license; (2)
Allow for an apprentice mate of towing
vessels to reduce required minimum
sea-service time for mate (pilot) of
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52789
towing vessels by completing additional
approved training; and (3) Provide an
alternate path to mate (pilot) of towing
vessels for a master of steam or motor
vessels of any tonnage that is 200 gross
register tons (GRT) or less.
(1) Radar-observer endorsement: A
petition for rulemaking was submitted
to the Coast Guard on March 10, 2005,
by an industry working group called the
Mid-America Regional Examination
Center Workgroup. That petition
identified problems associated with
placing the expiration date for the radarobserver endorsement on the deck
licenses of mariners operating vessels
equipped with radar. The expiration
date for the radar-observer endorsement
may be different from the expiration
date of the license itself, causing
confusion as to the validity of the
license.
A license is valid for a five-year
period from the date it is issued by the
Coast Guard. A radar-observer
endorsement is also valid for five years,
but that period begins after the month
in which the certificate of training is
issued. For original licenses, unless the
radar training certificate was issued the
month before the license is issued, the
expiration date of the radar
endorsement will be different than the
expiration date of the license. For
license renewals, existing 46 CFR
10.480(k) provides a one-time
opportunity for a mariner to
synchronize the expiration date of the
radar endorsement with that of the
license. That section does not, however,
account for subsequent renewals which
might also bring the dates out of
alignment. The end result is that,
currently, many licenses have
conflicting radar endorsement
expiration and license expiration dates
printed on them.
When conflicting dates appear on the
license, confusion may result. Moreover,
licenses may need to be prematurely
renewed or reissued with the new radar
observer endorsement date when the
mariner obtains a new radar training
certificate. If the radar observer
endorsement date is not printed on the
license, this confusion would be
avoided.
In reviewing the industry
recommendation, it was recognized that
changing the requirement would
simplify the process of issuing the
license and ease the burden on the Coast
Guard, industry, and schools providing
the training. Mariners will still be
required to keep their radar-observer
training current, but an endorsement
evidencing that training will no longer
be printed on their licenses. While they
will still be required to hold current
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]]>Agencies
[Federal Register Volume 73, Number 177 (Thursday, September 11, 2008)]
[Rules and Regulations]
[Pages 52788-52789]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-21223]
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DEPARTMENT OF HOMELAND SECURITY
Coast Guard
33 CFR Part 165
[Docket No. USCG-2008-0900]
Safety Zone; Milwaukee Harbor, Milwaukee, WI
AGENCY: Coast Guard, DHS.
ACTION: Notice of enforcement of regulation.
-----------------------------------------------------------------------
SUMMARY: The Coast Guard will enforce the Milwaukee Harbor Safety Zone
in Milwaukee Harbor from 8:30 p.m. through 8:45 p.m. on September 29,
2008. This action is necessary to protect vessels and people from the
hazards associated with fireworks displays. This safety zone will
restrict vessel traffic from portions of the Captain of the Port Lake
Michigan Zone.
DATES: The regulation in 33 CFR 165.935 will be enforced from 8:30 p.m.
through 8:45 p.m. on September 29, 2008.
FOR FURTHER INFORMATION CONTACT: Petty Officer Eric Vogel, Prevention
Department, Coast Guard Sector Lake Michigan, Milwaukee, WI at (414)
747-7154.
SUPPLEMENTARY INFORMATION: The Coast Guard will enforce Safety Zone,
Milwaukee Harbor, Milwaukee, WI, 33 CFR 165.935 for the following
event: Milwaukee Brewers Rally Monday, on September 29, 2008, from 8:30
p.m. through 8:45 p.m.
All vessels must obtain permission from the Captain of the Port or
his designated representative to enter, move within, or exit the safety
zone. Vessels and persons granted permission to enter the safety zone
shall obey all lawful orders or directions of the Captain of the
[[Page 52789]]
Port or his designated representative. While within a safety zone, all
vessels shall operate at the minimum speed necessary to maintain a safe
course.
This notice is issued under authority of 33 CFR 165.935 Safety
Zone, Milwaukee Harbor, Milwaukee, WI, and 5 U.S.C. 552(a). In addition
to this notice in the Federal Register, the Coast Guard will provide
the maritime community with advance notification of these enforcement
periods via broadcast Notice to Mariners or Local Notice to Mariners.
The Captain of the Port or designated representative may be
contacted via U.S. Coast Guard Sector Lake Michigan on channel 16, VHF-
FM.
Dated: August 27, 2008.
Bruce C. Jones,
Captain, U.S. Coast Guard, Captain of the Port Lake Michigan.
[FR Doc. E8-21223 Filed 9-10-08; 8:45 am]
BILLING CODE 4910-15-P
