Guidance on Reporting Interest Paid to Nonresident Aliens; Correction, 2852 [2011-829]

Download as PDF 2852 Federal Register / Vol. 76, No. 11 / Tuesday, January 18, 2011 / Proposed Rules (3) Before using any approved AMOC, notify your appropriate principal inspector, or lacking a principal inspector, the manager of the local flight standards district office/ certificate holding district office. Issued in Renton, Washington, on January 10, 2011. Ali Bahrami, Manager, Transport Airplane Directorate, Aircraft Certification Service. [FR Doc. 2011–879 Filed 1–14–11; 8:45 am] BILLING CODE 4910–13–P fourth line, the language ‘‘public hearing scheduled for April 28,’’ is corrected to read ‘‘public hearing scheduled for April 27,’’. 2. On page 1107, column 2, in the preamble, under the paragraph heading ‘‘Comments and Public Hearing’’, fourth paragraph of the column, second line, the language ‘‘for April 28, 2011, beginning at 10 a.m.’’ is corrected to read ‘‘for April 27, 2011, beginning at 10 a.m.’’. LaNita Van Dyke, Branch Chief, Publications and Regulations, Legal Processing Division, Associate Chief Counsel (Procedure and Administration). DEPARTMENT OF THE TREASURY Internal Revenue Service [FR Doc. 2011–829 Filed 1–14–11; 8:45 am] BILLING CODE 4830–01–P 26 CFR Parts 1 and 31 [REG–146097–09] RIN 1545–BJ01 DEPARTMENT OF THE TREASURY Guidance on Reporting Interest Paid to Nonresident Aliens; Correction Internal Revenue Service Internal Revenue Service (IRS), Treasury. ACTION: Correction to a notice of proposed rulemaking and notice of public hearing. AGENCY: This document contains corrections to a notice of proposed rulemaking and notice of public hearing (REG–146097–09) that was published in the Federal Register on Friday, January 7, 2011 (76 FR 1105) providing guidance on the reporting requirements for interest on deposits maintained at U.S. offices of certain financial institutions and paid to nonresident alien individuals. SUMMARY: FOR FURTHER INFORMATION CONTACT: Kathryn Holman, (202) 622–3840 (not a toll-free number). SUPPLEMENTARY INFORMATION: Background The correction notice that is the subject of this document is under sections 6049 and 3406 of the Internal Revenue Code. WReier-Aviles on DSKDVH8Z91PROD with PROPOSALS-1 Need for Correction As published, the notice of proposed rulemaking and notice of public hearing (REG–146097–09) contain errors that may prove to be misleading and are in need of clarification. Correction of Publication Accordingly, the publication of the notice of proposed rulemaking and notice of public hearing (REG–146097– 09), which was the subject of FR Doc. 2011–82, is corrected as follows: 1. On page 1105, column 3, in the preamble, under the caption DATES:, VerDate Mar<15>2010 15:10 Jan 14, 2011 Jkt 223001 26 CFR Part 301 [REG–131151–10] RIN 1545–BJ89 Rewards and Awards for Information Relating to Violations of Internal Revenue Laws Internal Revenue Service (IRS), Treasury. ACTION: Notice of proposed rulemaking. AGENCY: This document contains a proposed regulation relating to the payment of rewards under section 7623(a) of the Internal Revenue Code and awards under section 7623(b). The guidance is necessary to clarify the definition of proceeds of amounts collected and collected proceeds under section 7623. This regulation provides needed guidance to the general public as well as officers and employees of the IRS who review claims under section 7623. SUMMARY: Written or electronic comments and requests for a public hearing must be received by April 18, 2011. ADDRESSES: Send submissions to CC:PA:LPD:PR (REG–131151–10), Room 5203, Internal Revenue Service, P.O. Box 7604, Ben Franklin Station, Washington, DC 20044. Submissions may be hand-delivered Monday through Friday between the hours of 8 a.m. and 4 p.m. to CC:PA:LPD:PR (REG–131151– 10), Courier’s Desk, Internal Revenue Service, 1111 Constitution Avenue, NW., Washington, DC, or sent electronically, via the Federal eRulemaking Portal at http:// www.regulations.gov (IRS—REG– 131151–10). DATES: PO 00000 Frm 00013 Fmt 4702 Sfmt 4702 FOR FURTHER INFORMATION CONTACT: Concerning the proposed regulation, Kirsten N. Witter, at (202) 927–0900; concerning submissions of comments and requests for a public hearing, Richard A. Hurst at Richard.A.Hurst@irscounsel.treas.gov, or (202) 622–7180 (not toll-free numbers). SUPPLEMENTARY INFORMATION: Background and Explanation of Provision Section 7623(a) provides the Secretary with the authority to pay such sums as he deems necessary from proceeds of amounts collected based on information provided to the Secretary when the information relates to the detection of underpayments of tax or the detection and bringing to trial and punishment persons guilty of violating the internal revenue laws or conniving at the same. Section 7623(b) provides the Secretary with the authority to pay awards to individuals if the Secretary proceeds with an administrative or judicial action described in section 7623(a) that results in collected proceeds based on information provided by the individuals. Section 301.7623–1(a) currently provides that proceeds of amounts (other than interest) collected by reason of the information provided include both amounts collected because of the information provided and amounts collected prior to receipt of the information if the information leads to the denial of a claim for refund that otherwise would have been paid. 63 FR 44777. Section 301.7623–1(a) was promulgated prior to amendments of section 7623 as part of the Tax Relief and Health Care Act of 2006, division A, section 406, Public Law 109–432, 120 Stat. 2958. The amendments designated the existing section 7623 as section 7623(a). As originally enacted, section 7623 provided that rewards shall be paid ‘‘from the proceeds of amounts (other than interest) collected by reason of the information provided z5 * * * ’’ The 2006 amendments to section 7623 struck the ‘‘other than interest’’ language. The amendments also added section 7623(b), which provides that in certain cases individuals shall receive an award of at least 15% but not more than 30% of the collected proceeds resulting from the action with which the Secretary proceeded based on information brought to the attention of the Secretary by the individual. The 2006 amendments to section 7623 also created the IRS Whistleblower Office, which is responsible for administering a whistleblower program within the IRS. E:\FR\FM\18JAP1.SGM 18JAP1

Agencies

[Federal Register Volume 76, Number 11 (Tuesday, January 18, 2011)]
[Proposed Rules]
[Page 2852]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-829]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Parts 1 and 31

[REG-146097-09]
RIN 1545-BJ01


Guidance on Reporting Interest Paid to Nonresident Aliens; 
Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correction to a notice of proposed rulemaking and notice of 
public hearing.

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SUMMARY: This document contains corrections to a notice of proposed 
rulemaking and notice of public hearing (REG-146097-09) that was 
published in the Federal Register on Friday, January 7, 2011 (76 FR 
1105) providing guidance on the reporting requirements for interest on 
deposits maintained at U.S. offices of certain financial institutions 
and paid to nonresident alien individuals.

FOR FURTHER INFORMATION CONTACT: Kathryn Holman, (202) 622-3840 (not a 
toll-free number).

SUPPLEMENTARY INFORMATION:

Background

    The correction notice that is the subject of this document is under 
sections 6049 and 3406 of the Internal Revenue Code.

Need for Correction

    As published, the notice of proposed rulemaking and notice of 
public hearing (REG-146097-09) contain errors that may prove to be 
misleading and are in need of clarification.

Correction of Publication

    Accordingly, the publication of the notice of proposed rulemaking 
and notice of public hearing (REG-146097-09), which was the subject of 
FR Doc. 2011-82, is corrected as follows:
    1. On page 1105, column 3, in the preamble, under the caption 
DATES:, fourth line, the language ``public hearing scheduled for April 
28,'' is corrected to read ``public hearing scheduled for April 27,''.
    2. On page 1107, column 2, in the preamble, under the paragraph 
heading ``Comments and Public Hearing'', fourth paragraph of the 
column, second line, the language ``for April 28, 2011, beginning at 10 
a.m.'' is corrected to read ``for April 27, 2011, beginning at 10 
a.m.''.

LaNita Van Dyke,
Branch Chief, Publications and Regulations, Legal Processing Division, 
Associate Chief Counsel (Procedure and Administration).
[FR Doc. 2011-829 Filed 1-14-11; 8:45 am]
BILLING CODE 4830-01-P