Submission for OMB Review; Comment Request, 3669-3670 [E9-1070]
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Federal Register / Vol. 74, No. 12 / Wednesday, January 21, 2009 / Notices
Congress passed and the president
signed into law the Transportation
Recall Enhancement, Accountability,
and Documentation (TREAD) Act on
November 1, 2000. Public Law 106–414.
114 Stat. 1800.
One matter addressed by the TREAD
Act was tire labeling. Section 11 of the
TREAD Act required a rulemaking to
improve the labeling of tires to assist
consumers in identifying tires that may
be the subject of a recall.
In response to the TREAD Act’s
mandate, NHTSA published a final rule
that, among other things, required that
the TIN be placed on a sidewall of the
tire and a full or partial TIN be placed
on the other sidewall. See 67 FR 69600,
69628 (November 18, 2002), as amended
69 FR 31306 (June 3, 2004). In the
preamble to the 2002 final rule, the
agency identified the safety problem
which prompted the issuance of the
rule. 67 FR at 69602, 69606 and 69610.
The agency explained that when tires
are mounted so that the TIN appears on
the inward facing sidewalls, motorists
have three difficult and inconvenient
options for locating and recording the
TINs. Consumers must either: (1) Slide
under the vehicle with a flashlight,
pencil and paper and search the inside
sidewalls for the TINs; (2) remove each
tire, find and record the TIN, and then
replace the tire; or (3) enlist the aid of
a garage or service station that can
perform option 1 or place the vehicle on
a vehicle lift so that the TINs can be
found and recorded. Without any TIN
information on the outside sidewalls of
tires, the difficulty and inconvenience
of obtaining the TIN by consumers
results in a reduction of the number of
people who respond to a tire recall
campaign and the number of motorists
who unknowingly continue to drive
vehicles with potentially unsafe tires.
Goodyear suggests that a recall of
these tires could include an instruction
to check the inboard sidewall if the TIN
is not found on the outboard sidewall.
This approach is inadequate. The
noncompliance here is the exact
problem that plagued millions of
Firestone tire owners in 2000 and one
that Congress mandated that NHTSA
address. When the TIN is placed on one
sidewall of a tire and that sidewall is
mounted on the inboard side of a wheel,
it is very difficult and inconvenient for
the consumer to locate and record the
TIN. In such situations, consumers who
attempt to determine if a tire is within
the scope of a recall may not be able to
read the inboard sidewall without
taking one of the three inconvenient
steps discussed above. The difficulty
and inconvenience that locating a TIN
under these circumstances poses serious
VerDate Nov<24>2008
18:54 Jan 16, 2009
Jkt 217001
impediments to the successful recall of
the noncompliant tire, which may result
in motorists continuing to drive their
vehicles with potentially unsafe tires.
While NHTSA has determined in the
past that in some instances TIN marking
omissions were inconsequential to
motor vehicle safety, those
determinations occurred prior to the
adoption of FMVSS No. 139 pursuant to
the TREAD Act. Following the
enactment of the TREAD Act, NHTSA
found that there is a safety need for a
full TIN on one sidewall and a full or
partial TIN on the other sidewall. As
previously discussed, FMVSS No. 139
now requires TIN markings on both
sidewalls of a tire so that consumers can
readily determine if a tire is subject to
a safety recall. Accordingly, the
omission of a TIN or partial TIN on
either sidewall is now considered to be
a serious safety problem.
In consideration of the foregoing,
NHTSA has decided that the petitioner
has not met its burden of persuasion
that the noncompliance described is
inconsequential to motor vehicle safety.
Accordingly, Goodyear’s petition is
hereby denied, and the petitioner must
notify owners, purchasers and dealers
pursuant to 49 U.S.C. 30118 and
provide a remedy in accordance with 49
U.S.C. 30120.
Authority: (49 U.S.C. 30118, 30120:
delegations of authority at CFR 1.50 and
501.8)
Issued on: January 13, 2009.
Daniel C. Smith,
Associate Administrator for Enforcement.
[FR Doc. E9–1012 Filed 1–16–09; 8:45 am]
BILLING CODE 4910–59–P
DEPARTMENT OF THE TREASURY
Submission for OMB Review;
Comment Request
January 13, 2009.
The Department of the Treasury will
submit the following public information
collection requirement(s) to OMB for
review and clearance under the
Paperwork Reduction Act of 1995,
Public Law 104–13 on or after the date
of publication of this notice. Copies of
the submission(s) may be obtained by
calling the Treasury Bureau Clearance
Officer listed. Comments regarding this
information collection should be
addressed to the OMB reviewer listed
and to the Treasury Department
Clearance Officer, Department of the
Treasury, Room 11000, 1750
Pennsylvania Avenue, NW.,
Washington, DC 20220.
PO 00000
Frm 00129
Fmt 4703
Sfmt 4703
3669
DATES: Written comments should be
received on or before February 20, 2009
to be assured of consideration.
Internal Revenue Service (IRS)
OMB Number: 1545–1962.
Type of Review: Extension.
Form: 8899.
Title: Notice of Income Donated
Intellectual Property.
Description: Form is filed by
charitable org. receiving donations of
intellectual property if the donor
provides a timely notice. The initial
deduction is limited to the donor’s
basis; additional deductions are allowed
to the extent of income from the
property, reducing excessive
deductions.
Respondents: Businesses or other forprofits.
Estimated Total Burden Hours: 5,430
hours.
OMB Number: 1545–1231.
Type of Review: Revision.
Title: Final (T.D. 9436) Tax Return
Prep/IA–38–90 Final Regulations (T.D.
8382) Penalty on Income Tax Return
Preparers Who Understate Taxpayer’s
Liability on a Federal Income Tax
Return or a Claim for Refund.
Description: This information is
necessary to make the record of the
name, taxpayer identification number,
and principal place of work of each tax
return preparer, make each return or
claim for refund prepared available for
inspection by the Commissioner of
Internal Revenue, and to document that
the tax return preparer advised the
taxpayer of the penalty standards
applicable to the taxpayer in order for
the tax return preparer to avoid
penalties under section 6694. The likely
respondents are tax return preparers and
their employers. These regulations
implement amendments to the tax
return preparer penalties under sections
6694 and 6695 of the Internal Revenue
Code and related provisions under
sections 6060, 6107, 6109, 6696, and
7701(a)(36) reflecting amendments to
the Code made by section 8246 of the
Small Business and Work Opportunity
Tax Act of 2007 and section 506 of the
Tax Extenders and Alternative
Minimum Tax Relief Act of 2008. The
final regulation affects tax return
preparers and provides guidance
regarding the amended provisions.
Respondents: Businesses or other forprofits.
Estimated Total Burden Hours:
10,679,320 hours.
OMB Number: 1545–0913.
Type of Review: Extension.
Title: Below-Market Loans LR–165–84
(NPRM).
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21JAN1
mstockstill on PROD1PC66 with NOTICES
3670
Federal Register / Vol. 74, No. 12 / Wednesday, January 21, 2009 / Notices
Description: Section 7872 recharacterizes a below-market loan as a
market rate loan and an additional
transfer by the lender to the borrower
equal to the amount of imputed interest.
The regulation requires both the lender
and the borrower to attach a statement
to their respective income tax returns
for years in which they have either
imputed income or claim imputed
deductions under section 7872.
Respondents: Businesses or other forprofits.
Estimated Total Burden Hours:
481,722 hours.
OMB Number: 1545–1955.
Type of Review: Extension.
Form: 8894.
Title: Request to Revoke Partnership
Level Tax Treatment Election.
Description: IRC section
6231(a)(1)(B)(ii) allows small
partnerships to elect to be treated under
the unified audit and litigation
procedures. This election can only be
revoked with the consent of the IRS.
Form 8894 will provide a standardized
format for small partnerships to request
this revocation and for the IRS to
process it.
Respondents: Businesses or other forprofits.
Estimated Total Burden Hours: 186
hours.
OMB Number: 1545–1353.
Type of Review: Extension.
Title: FI–189–84 (TD 8517—Final)
Debt Instruments With Original
Discount; Imputed Interest on Deferred
Payment Sales or Exchanges of Property.
Description: These regulations
provide definitions, reporting
requirements, elections, and general
rules relating to the tax treatment of
debt instruments with original issue
discount and the imputation of, and
accounting for, interest on certain sales
or exchanges of property.
Respondents: Businesses or other forprofits.
Estimated Total Burden Hours:
185,500 hours.
OMB Number: 1545–1041.
Type of Review: Extension.
Title: PS–102–86 (TD 8316—Final)
Cooperative Housing Corporations.
Description: This regulation provides
an elective alternative to the
proportionate share rule for allocating
interest and taxes to the tenant
stockholders of cooperative housing
corporations.
Respondents: Businesses or other forprofits.
Estimated Total Burden Hours: 625
hours.
OMB Number: 1545–1466.
Type of Review: Extension.
VerDate Nov<24>2008
18:54 Jan 16, 2009
Jkt 217001
Title: Third-Party Disclosure
Requirements in IRS Regulations.
Description: This submission contains
third-party disclosure regulations
subject to the Paperwork Reduction Act
of 1995.
Respondents: Businesses or other forprofits.
Estimated Total Burden Hours:
68,885,183 hours.
Clearance Officer: Glenn P. Kirkland,
(202) 622–3428, Internal Revenue
Service, Room 6516, 1111 Constitution
Avenue, NW., Washington, DC 20224.
OMB Reviewer: Nicholas A. Fraser,
(202) 395–5887, Office of Management
and Budget, Room 10235, New
Executive Office Building, Washington,
DC 20503.
Celina Elphage,
Treasury PRA Clearance Officer.
[FR Doc. E9–1070 Filed 1–16–09; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Financial Crimes Enforcement Network
Proposed Collection; Comment
Request; Suspicious Activity Report
by Insurance Companies
AGENCY: Financial Crimes Enforcement
Network (‘‘FinCEN’’).
ACTION: Notice and request for
comments.
SUMMARY: FinCEN invites comment on a
renewal without change of an
information collection requirement
contained in the form ‘‘Suspicious
Activity Report by Insurance
Companies,’’ or the SAR–IC, FinCEN
Form 108. In the interim until Bank
Secrecy Act database issues are
resolved, insurance companies will
report suspicious activities using the
‘‘Suspicious Activity Report by the
Securities and Futures Industries,’’
(SAR–SF, FinCEN Form 101). This
request for comments also covers 31
CFR 103.16. This request for comments
is being made pursuant to the
Paperwork Reduction Act of 1995,
Public Law 104–13, 44 U.S.C.
3506(c)(2)(A).
DATES: Written comments are welcome
and must be received on or before
March 23, 2009.
ADDRESSES: Written comments should
be submitted to: Department of the
Treasury, Financial Crimes Enforcement
Network, Regulatory Policy and
Programs Division, P.O. Box 39, Vienna,
VA 22183, Attention: PRA Comments—
SAR-Insurance Companies Reporting.
Comments also may be submitted by
PO 00000
Frm 00130
Fmt 4703
Sfmt 4703
electronic mail to the following Internet
address: regcomments@fincen.treas.gov,
again with a caption, in the body of the
text, ‘‘Attention: PRA Comments—SARInsurance Companies Reporting.’’
Inspection of comments. Comments
may be inspected, between 10 a.m. and
4 p.m., in the FinCEN reading room in
Vienna, VA. Persons wishing to inspect
the comments submitted must request
an appointment with the Disclosure
Officer by telephoning (703) 905–5034
(not a toll free call).
FOR FURTHER INFORMATION CONTACT: The
FinCEN Regulatory Helpline at 800–
949–2732, select option 7.
SUPPLEMENTARY INFORMATION:
Title: Suspicious Activity Reporting
by Insurance Companies; 31 CFR
103.16.
OMB Number: 1506–0029.
Form Number: FinCEN Form 108.
Abstract: The statute generally
referred to as the ‘‘Bank Secrecy Act,’’
Titles I and II of Public Law 91–508, as
amended, codified at 12 U.S.C. 1829b,
12 U.S.C. 1951–1959, and 31 U.S.C.
5311–14, 5316–5332, authorizes the
Secretary of the Treasury, inter alia, to
require financial institutions to keep
records and file reports that are
determined to have a high degree of
usefulness in criminal, tax, and
regulatory matters, or in the conduct of
intelligence or counter-intelligence
activities, to protect against
international terrorism, and to
implement counter-money laundering
programs and compliance procedures.1
Regulations implementing the Bank
Secrecy Act appear at 31 CFR Part 103.
The authority of the Secretary to
administer the Bank Secrecy Act has
been delegated to the Director of
FinCEN.
The Secretary of the Treasury was
granted authority in 1992, with the
enactment of 31 U.S.C. 5318(g), to
require financial institutions to report
suspicious transactions. On October 17,
2002, FinCEN issued a notice of
proposed rulemaking requiring
insurance companies to report
suspicious transactions (See 67 FR
64067). The final rule (See 70 FR 66761)
can be found at 31 CFR 103.16.
In the preamble to the notice of
proposed rulemaking, FinCEN indicated
that we would be developing a
suspicious activity reporting form for
insurance companies entitled
1 Language expanding the scope of the Bank
Secrecy Act to intelligence or counter-intelligence
activities to protect against international terrorism
was added by Section 358 of the Uniting and
Strengthening America by Providing Appropriate
Tools Required to Intercept and Obstruct Terrorism
(USA PATRIOT Act) Act of 2001 (the ‘‘USA Patriot
Act’’), Pub. L. 107–56.
E:\FR\FM\21JAN1.SGM
21JAN1
]]>Agencies
[Federal Register Volume 74, Number 12 (Wednesday, January 21, 2009)]
[Notices]
[Pages 3669-3670]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-1070]
=======================================================================
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DEPARTMENT OF THE TREASURY
Submission for OMB Review; Comment Request
January 13, 2009.
The Department of the Treasury will submit the following public
information collection requirement(s) to OMB for review and clearance
under the Paperwork Reduction Act of 1995, Public Law 104-13 on or
after the date of publication of this notice. Copies of the
submission(s) may be obtained by calling the Treasury Bureau Clearance
Officer listed. Comments regarding this information collection should
be addressed to the OMB reviewer listed and to the Treasury Department
Clearance Officer, Department of the Treasury, Room 11000, 1750
Pennsylvania Avenue, NW., Washington, DC 20220.
DATES: Written comments should be received on or before February 20,
2009 to be assured of consideration.
Internal Revenue Service (IRS)
OMB Number: 1545-1962.
Type of Review: Extension.
Form: 8899.
Title: Notice of Income Donated Intellectual Property.
Description: Form is filed by charitable org. receiving donations
of intellectual property if the donor provides a timely notice. The
initial deduction is limited to the donor's basis; additional
deductions are allowed to the extent of income from the property,
reducing excessive deductions.
Respondents: Businesses or other for-profits.
Estimated Total Burden Hours: 5,430 hours.
OMB Number: 1545-1231.
Type of Review: Revision.
Title: Final (T.D. 9436) Tax Return Prep/IA-38-90 Final Regulations
(T.D. 8382) Penalty on Income Tax Return Preparers Who Understate
Taxpayer's Liability on a Federal Income Tax Return or a Claim for
Refund.
Description: This information is necessary to make the record of
the name, taxpayer identification number, and principal place of work
of each tax return preparer, make each return or claim for refund
prepared available for inspection by the Commissioner of Internal
Revenue, and to document that the tax return preparer advised the
taxpayer of the penalty standards applicable to the taxpayer in order
for the tax return preparer to avoid penalties under section 6694. The
likely respondents are tax return preparers and their employers. These
regulations implement amendments to the tax return preparer penalties
under sections 6694 and 6695 of the Internal Revenue Code and related
provisions under sections 6060, 6107, 6109, 6696, and 7701(a)(36)
reflecting amendments to the Code made by section 8246 of the Small
Business and Work Opportunity Tax Act of 2007 and section 506 of the
Tax Extenders and Alternative Minimum Tax Relief Act of 2008. The final
regulation affects tax return preparers and provides guidance regarding
the amended provisions.
Respondents: Businesses or other for-profits.
Estimated Total Burden Hours: 10,679,320 hours.
OMB Number: 1545-0913.
Type of Review: Extension.
Title: Below-Market Loans LR-165-84 (NPRM).
[[Page 3670]]
Description: Section 7872 re-characterizes a below-market loan as a
market rate loan and an additional transfer by the lender to the
borrower equal to the amount of imputed interest. The regulation
requires both the lender and the borrower to attach a statement to
their respective income tax returns for years in which they have either
imputed income or claim imputed deductions under section 7872.
Respondents: Businesses or other for-profits.
Estimated Total Burden Hours: 481,722 hours.
OMB Number: 1545-1955.
Type of Review: Extension.
Form: 8894.
Title: Request to Revoke Partnership Level Tax Treatment Election.
Description: IRC section 6231(a)(1)(B)(ii) allows small
partnerships to elect to be treated under the unified audit and
litigation procedures. This election can only be revoked with the
consent of the IRS. Form 8894 will provide a standardized format for
small partnerships to request this revocation and for the IRS to
process it.
Respondents: Businesses or other for-profits.
Estimated Total Burden Hours: 186 hours.
OMB Number: 1545-1353.
Type of Review: Extension.
Title: FI-189-84 (TD 8517--Final) Debt Instruments With Original
Discount; Imputed Interest on Deferred Payment Sales or Exchanges of
Property.
Description: These regulations provide definitions, reporting
requirements, elections, and general rules relating to the tax
treatment of debt instruments with original issue discount and the
imputation of, and accounting for, interest on certain sales or
exchanges of property.
Respondents: Businesses or other for-profits.
Estimated Total Burden Hours: 185,500 hours.
OMB Number: 1545-1041.
Type of Review: Extension.
Title: PS-102-86 (TD 8316--Final) Cooperative Housing Corporations.
Description: This regulation provides an elective alternative to
the proportionate share rule for allocating interest and taxes to the
tenant stockholders of cooperative housing corporations.
Respondents: Businesses or other for-profits.
Estimated Total Burden Hours: 625 hours.
OMB Number: 1545-1466.
Type of Review: Extension.
Title: Third-Party Disclosure Requirements in IRS Regulations.
Description: This submission contains third-party disclosure
regulations subject to the Paperwork Reduction Act of 1995.
Respondents: Businesses or other for-profits.
Estimated Total Burden Hours: 68,885,183 hours.
Clearance Officer: Glenn P. Kirkland, (202) 622-3428, Internal
Revenue Service, Room 6516, 1111 Constitution Avenue, NW., Washington,
DC 20224.
OMB Reviewer: Nicholas A. Fraser, (202) 395-5887, Office of
Management and Budget, Room 10235, New Executive Office Building,
Washington, DC 20503.
Celina Elphage,
Treasury PRA Clearance Officer.
[FR Doc. E9-1070 Filed 1-16-09; 8:45 am]
BILLING CODE 4830-01-P
