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