Notice of Rate for Use in Federal Debt Collection and Discount and Rebate Evaluation, 61932 [E8-24451]

Download as PDF 61932 Federal Register / Vol. 73, No. 202 / Friday, October 17, 2008 / Notices sroberts on PROD1PC70 with NOTICES Treasury, Room 11000, and 1750 Pennsylvania Avenue, NW., Washington, DC 20220. DATES: Written comments should be received on or before November 17, 2008 to be assured of consideration. Internal Revenue Service (IRS) OMB Number: 1545–1793. Type of Review: Extension. Title: Rev. Proc. 2002–43, Determination of Substitute Agent for a Consolidated Group. Description: The information is needed in order for (i) A terminating common parent of a consolidated group to notify the IRS that it will terminate and to designate another corporation to be the group’s substitute agent, pursuant to Treas. Reg. Sec. 1.1502–77(d)(1) or Sec. 1.1052–77A(d); (ii) the remaining members of a consolidated group to designate a substitute agent pursuant to Sec. 1.1502–77A (d); (iii) the default substitute agent to notify the IRS that it is the default substitute agent pursuant to Sec. 1.1502–77(d)(2); or (iv) requests by a member of the group for the IRS to designate a substitute agent or replace a previously designated substitute agent. The IRS will use the information to determine whether to approve the designation (if approval is required), to designate a substitute agent, or to replace a substitute agent, and to change the IRS’s records to reflect the name and other information about the substitute agent. Respondents: Businesses or other forprofit institutions. Estimated Total Burden Hours: 400 hours. OMB Number: 1545–1653. Type of Review: Extension. Title: Revenue Procedure 99–26 Secured Employee Benefits Settlement Initiative. Description: This revenue procedure provides taxpayers options to settle cases in which they accelerated deductions for accrued employee benefits secured by a letter of credit, bond, or other similar financial instrument. Respondents: Businesses or other forprofit institutions. Estimated Total Burden Hours: 2,000 hours. OMB Number: 1545–1027. Type of Review: Extension. Title: U.S. Property and Casualty Insurance Company Income Tax Return. Forms: 1120–PC. Description: Property and casualty insurance companies are required to file an annual return of income and pay the tax due. The data is used to insure that companies have correctly reported income and paid the correct tax. VerDate Aug<31>2005 19:18 Oct 16, 2008 Jkt 217001 Respondents: Businesses or other forprofit institutions. Estimated Total Burden Hours: 649,218 hours. OMB Number: 1545–0108. Type of Review: Extension. Title: Annual Summary and Transmittal of U.S. Information Returns. Forms: 1096. Description: Form 1096 is used to transmit information returns (Forms 1099, 1098, 5498, and W–2G) to the IRS Service Centers. Under IRC section 6041 and related sections, a separate Form 1096 is used for each type of return sent to the service center by the payer. It is used by IRS to summarize and categorize the transmitted forms. Respondents: Businesses or other forprofit institutions. Estimated Total Burden Hours: 1,016,812 hours. OMB Number: 1545–0257. Type of Review: Extension. Title: Forms 8109 and 8109–B, Federal Tax Deposit Coupon; and Form 8109–C, FTD Address Change. Forms: 8109–B, 8109, 8109–C. Description: Federal Tax Deposit Coupons are used to deposit certain types of taxes at authorized depositaries. Coupons are sent to the IRS Centers for crediting to taxpayers’ accounts. Data is used by the IRS to make the credit and to verify tax deposits claimed on the returns. The FTD Address change is used to change the address on the FTD coupons. All taxpayers required to make deposits are affected. Respondents: Businesses or other forprofit institutions. Estimated Total Burden Hours: 1,841,607 hours. Clearance Officer: Glenn P. Kirkland, (202) 622–3428, Internal Revenue Service, Room 6516, 1111 Constitution Avenue, NW., Washington, DC 20224. OMB Reviewer: Alexander T. Hunt, (202) 395–7316, Office of Management and Budget, Room 10235, New Executive Office Building, Washington, DC 20503. Celina Elphage, Treasury PRA Clearance Officer. [FR Doc. E8–24668 Filed 10–16–08; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Notice of rate for use in Federal debt collection and discount and rebate evaluation. ACTION: SUMMARY: Pursuant to section 11 of the Debt Collection Act of 1982, as amended, (31 U.S.C. 3717), the Secretary of the Treasury is responsible for computing and publishing the percentage rate to be used in assessing interest charges for outstanding debts owed to the Government. Treasury’s Cash Management Requirements (TFM Volume I, Part 6, Chapter 8000) prescribe use of this rate by agencies as a comparison point in evaluating the cost effectiveness of a cash discount. In addition, 5 CFR 13 15.8 of the Prompt Payment rule on ‘‘Rebates’’ requires that this rate be used in determining when agencies should pay purchase card invoices when the card issuer offers a rebate. Notice is hereby given that the applicable rate is 3.00 percent for calendar year 2009. The rate will be in effect for the period beginning on January 1, 2009, and ending on December 31, 2009. DATES: FOR FURTHER INFORMATION CONTACT: Inquiries should be directed to the Agency Enterprise Solutions Division, Financial Management Service, Department of the Treasury, 401 14th Street, SW., Washington, DC 20227 (Telephone: 202–874–6650). The rate reflects the current value of funds to the Treasury for use in connection with Federal Cash Management systems and is based on investment rates set for purposes of Public Law 95–147, 91 Stat. 1227. Computed each year by averaging Treasury Tax and Loan (TT&L) investment rates for the 12-month period ending every September 30, rounded to the nearest whole percentage, for applicability effective each January 1, the rate is subject to quarterly revisions if the annual average, on a moving basis, changes by 2 percentage points. The rate in effect for the calendar year 2009 reflects the average investment rates for the 12month period that ended September 30, 2008. SUPPLEMENTARY INFORMATION: Fiscal Service Notice of Rate for Use in Federal Debt Collection and Discount and Rebate Evaluation Dated: October 6, 2008. Sheryl R. Morrow, Assistant Commissioner, Federal Finance. [FR Doc. E8–24451 Filed 10–16–08; 8:45 am] BILLING CODE 4810–35–M Financial Management Service, Fiscal Service, Treasury. AGENCY: PO 00000 Frm 00156 Fmt 4703 Sfmt 4703 E:\FR\FM\17OCN1.SGM 17OCN1

Agencies

[Federal Register Volume 73, Number 202 (Friday, October 17, 2008)]
[Notices]
[Page 61932]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-24451]


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DEPARTMENT OF THE TREASURY

Fiscal Service


Notice of Rate for Use in Federal Debt Collection and Discount 
and Rebate Evaluation

AGENCY: Financial Management Service, Fiscal Service, Treasury.

ACTION: Notice of rate for use in Federal debt collection and discount 
and rebate evaluation.

-----------------------------------------------------------------------

SUMMARY: Pursuant to section 11 of the Debt Collection Act of 1982, as 
amended, (31 U.S.C. 3717), the Secretary of the Treasury is responsible 
for computing and publishing the percentage rate to be used in 
assessing interest charges for outstanding debts owed to the 
Government. Treasury's Cash Management Requirements (TFM Volume I, Part 
6, Chapter 8000) prescribe use of this rate by agencies as a comparison 
point in evaluating the cost effectiveness of a cash discount. In 
addition, 5 CFR 13 15.8 of the Prompt Payment rule on ``Rebates'' 
requires that this rate be used in determining when agencies should pay 
purchase card invoices when the card issuer offers a rebate. Notice is 
hereby given that the applicable rate is 3.00 percent for calendar year 
2009.

DATES: The rate will be in effect for the period beginning on January 
1, 2009, and ending on December 31, 2009.

FOR FURTHER INFORMATION CONTACT: Inquiries should be directed to the 
Agency Enterprise Solutions Division, Financial Management Service, 
Department of the Treasury, 401 14th Street, SW., Washington, DC 20227 
(Telephone: 202-874-6650).

SUPPLEMENTARY INFORMATION: The rate reflects the current value of funds 
to the Treasury for use in connection with Federal Cash Management 
systems and is based on investment rates set for purposes of Public Law 
95-147, 91 Stat. 1227. Computed each year by averaging Treasury Tax and 
Loan (TT&L) investment rates for the 12-month period ending every 
September 30, rounded to the nearest whole percentage, for 
applicability effective each January 1, the rate is subject to 
quarterly revisions if the annual average, on a moving basis, changes 
by 2 percentage points. The rate in effect for the calendar year 2009 
reflects the average investment rates for the 12-month period that 
ended September 30, 2008.

    Dated: October 6, 2008.
Sheryl R. Morrow,
Assistant Commissioner, Federal Finance.
[FR Doc. E8-24451 Filed 10-16-08; 8:45 am]
BILLING CODE 4810-35-M