Proposed Collection; Comment Request for Form 1120-PC, 39473-39474 [2011-16820]
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Federal Register / Vol. 76, No. 129 / Wednesday, July 6, 2011 / Notices
or through the Internet at
Joel.P.Goldberger@irs.gov.
sroberts on DSK5SPTVN1PROD with NOTICES
SUPPLEMENTARY INFORMATION:
Title: Low-Income Housing Credit
Agencies Report of Noncompliance or
Building Disposition.
OMB Number: 1545–1204.
Form Number: 8823.
Abstract: Under Internal Revenue
Code section 42(m)(1)(B)(iii), state
housing credit agencies are required to
notify the IRS of noncompliance with
the low-income housing tax credit
provisions. A separate form must be
filed for each building that is not in
compliance. The IRS uses this
information to determine whether the
low-income housing credit is being
correctly claimed and whether there is
any credit recapture.
Current Actions: Form 8823 was not
revised; however, adjustments were
made to the burden computation to
accurately reflect the total burden hours
associated with this collection, which
resulted in a decrease of 69,000 hours,
making the new burden hours 303,200.
Type of Review: Revision of a
currently approved collection.
Affected Public: State or local
government housing credit agencies.
Estimated Number of Respondents:
20,000.
Estimated Total Annual Burden
Hours: 303,200.
The following paragraph applies to all
of the collections of information covered
by this notice:
An agency may not conduct or
sponsor, and a person is not required to
respond to, a collection of information
unless the collection of information
displays a valid OMB control number.
Books or records relating to a collection
of information must be retained as long
as their contents may become material
in the administration of any internal
revenue law. Generally, tax returns and
tax return information are confidential,
as required by 26 U.S.C. 6103.
Request For Comments: Comments
submitted in response to this notice will
be summarized and/or included in the
request for OMB approval. All
comments will become a matter of
public record. Comments are invited on:
(a) Whether the collection of
information is necessary for the proper
performance of the functions of the
agency, including whether the
information shall have practical utility;
(b) the accuracy of the agency’s estimate
of the burden of the collection of
information; (c) ways to enhance the
quality, utility, and clarity of the
information to be collected; (d) ways to
minimize the burden of the collection of
information on respondents, including
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18:17 Jul 05, 2011
Jkt 223001
through the use of automated collection
techniques or other forms of information
technology; and (e) estimates of capital
or start-up costs and costs of operation,
maintenance, and purchase of services
to provide information.
Approved: June 24, 2011.
Yvette B. Lawrence,
IRS Reports Clearance Officer.
[FR Doc. 2011–16821 Filed 7–5–11; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment
Request for Form 3491
Internal Revenue Service (IRS),
Treasury.
ACTION: Notice and request for
comments.
AGENCY:
The Department of the
Treasury, as part of its continuing effort
to reduce paperwork and respondent
burden, invites the general public and
other Federal agencies to take this
opportunity to comment on proposed
and/or continuing information
collections, as required by the
Paperwork Reduction Act of 1995,
Public Law 104–13 (44 U.S.C.
3506(c)(2)(A)). Currently, the IRS is
soliciting comments concerning Form
3491, Consumer Cooperative Exemption
Application.
DATES: Written comments should be
received on or before September 6, 2011
to be assured of consideration.
ADDRESSES: Direct all written comments
to Yvette B. Lawrence, Internal Revenue
Service, room 6129, 1111 Constitution
Avenue, NW., Washington, DC 20224.
FOR FURTHER INFORMATION CONTACT:
Requests for additional information or
copies of the form and instructions
should be directed to Evelyn J. Mack,
(202) 622–7381, Internal Revenue
Service, room 6129, 1111 Constitution
Avenue, NW., Washington, DC 20224,
or through the Internet at
Evelyn.J.Mack@irs.gov.
SUMMARY:
39473
Type of Review: Extension of a
currently approved collection.
Affected Public: Business or other forprofit, Individuals or households, and
Farms.
Estimated Number of Respondents:
200.
Estimated Time Per Respondent: 44
minutes.
Estimated Total Annual Burden
Hours: 148.
The following paragraph applies to all
of the collections of information covered
by this notice:
An agency may not conduct or
sponsor, and a person is not required to
respond to, a collection of information
unless the collection of information
displays a valid OMB control number.
Books or records relating to a collection
of information must be retained as long
as their contents may become material
in the administration of any internal
revenue law. Generally, tax returns and
tax return information are confidential,
as required by 26 U.S.C. 6103.
Request For Comments: Comments
submitted in response to this notice will
be summarized and/or included in the
request for OMB approval. All
comments will become a matter of
public record. Comments are invited on:
(a) Whether the collection of
information is necessary for the proper
performance of the functions of the
agency, including whether the
information shall have practical utility;
(b) the accuracy of the agency’s estimate
of the burden of the collection of
information; (c) ways to enhance the
quality, utility, and clarity of the
information to be collected; (d) ways to
minimize the burden of the collection of
information on respondents, including
through the use of automated collection
techniques or other forms of information
technology; and (e) estimates of capital
or start-up costs and costs of operation,
maintenance, and purchase of services
to provide information.
Approved: June 23, 2011.
Yvette B. Lawrence,
IRS Reports Clearance Officer.
[FR Doc. 2011–16826 Filed 7–5–11; 8:45 am]
BILLING CODE 4830–01–P
SUPPLEMENTARY INFORMATION:
Title: Consumer Cooperative
Exemption Application.
OMB Number: 1545–1941.
Form Number: A cooperative uses
Form 3491 to apply for exemption from
filing information returns (Forms 1099–
PATR) on patronage distributions of $10
or more to any person during the
calendar year.
Current Actions: There are no changes
being made to the Form 3491 at this
time.
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment
Request for Form 1120–PC
Internal Revenue Service (IRS),
Treasury.
ACTION: Notice and request for
comments.
AGENCY:
E:\FR\FM\06JYN1.SGM
06JYN1
39474
Federal Register / Vol. 76, No. 129 / Wednesday, July 6, 2011 / Notices
The Department of the
Treasury, as part of its continuing effort
to reduce paperwork and respondent
burden, invites the general public and
other Federal agencies to take this
opportunity to comment on proposed
and/or continuing information
collections, as required by the
Paperwork Reduction Act of 1995,
Public Law 104–13 (44 U.S.C.
3506(c)(2)(A)). Currently, the IRS is
soliciting comments concerning Form
1120–PC, U.S. Property and Casualty
Insurance Company Income Tax Return.
DATES: Written comments should be
received on or before September 6, 2011
to be assured of consideration.
ADDRESSES: Direct all written comments
to Yvette B. Lawrence, Internal Revenue
Service, room 6129, 1111 Constitution
Avenue, NW., Washington, DC 20224.
FOR FURTHER INFORMATION CONTACT:
Requests for additional information or
copies of the form and instructions
should be directed to Evelyn J. Mack, at
(202) 622–7381, or at Internal Revenue
Service, room 6231, 1111 Constitution,
Avenue, NW., Washington, DC 20224,
or through the Internet, at
Evelyn.J.Mack@irs.gov.
SUMMARY:
sroberts on DSK5SPTVN1PROD with NOTICES
SUPPLEMENTARY INFORMATION:
Title: U.S. Property and Casualty
Insurance Company Income Tax Return.
OMB Number: 1545–1027.
Form Number: Form 1120–PC.
Abstract: 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.
Current Actions: On Form 1120–PC
line changes were made, within
Schedules E and H, to clarify the new
restrictions on the deduction of 100% of
unearned premiums by section 833
organizations, enable section 833
organizations to determine whether they
meet the 85% medical loss ratio
mandated by IRC 833(c)(5) and for
qualifying section 833 organizations to
compute the special deduction and the
ending adjusted surplus (Pub. L. 111–
148, section 9016 and IRC 833(c)(5)). A
question was added to Schedule I for
corporations to indicate whether they
have uncertain tax positions
(Announcements 2010–9 and 2010–17,
and 2010–30).
On Form 1120–PC (Schedule M–3)
two lines were added to monitor IRC
sections 174 and 118, respectively, at
the request of LMSB.
Type of Review: Revision of a
currently approved collection.
Affected Public: Business or other forprofit organizations.
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18:17 Jul 05, 2011
Jkt 223001
Estimated Number of Respondents:
4,200.
Estimated Time Per Respondent: 164
hrs., 59 min.
Estimated Total Annual Burden
Hours: 671,746.
The following paragraph applies to all
of the collections of information covered
by this notice:
An agency may not conduct or
sponsor, and a person is not required to
respond to, a collection of information
unless the collection of information
displays a valid OMB control number.
Books or records relating to a collection
of information must be retained as long
as their contents may become material
in the administration of any internal
revenue law. Generally, tax returns and
tax return information are confidential,
as required by 26 U.S.C. 6103.
Request For Comments: Comments
submitted in response to this notice will
be summarized and/or included in the
request for OMB approval. All
comments will become a matter of
public record. Comments are invited on:
(a) Whether the collection of
information is necessary for the proper
performance of the functions of the
agency, including whether the
information shall have practical utility;
(b) the accuracy of the agency’s estimate
of the burden of the collection of
information; (c) ways to enhance the
quality, utility, and clarity of the
information to be collected; (d) ways to
minimize the burden of the collection of
information on respondents, including
through the use of automated collection
techniques or other forms of information
technology; and (e) estimates of capital
or start-up costs and costs of operation,
maintenance, and purchase of services
to provide information.
Approved: June 22, 2011.
Yvette B. Lawrence,
IRS Reports Clearance Officer.
[FR Doc. 2011–16820 Filed 7–5–11; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Office of Thrift Supervision
Monthly Median Cost of Funds
Reporting, and Publication of Cost of
Funds Indices
Office of Thrift Supervision
(OTS), Treasury.
ACTION: Notice of Termination of OMB
No. 1550–0021, Monthly Median Cost of
Funds Reporting, and Publication of
Cost of Funds Indices.
AGENCY:
The OTS is terminating the
collection of data used to calculate and
SUMMARY:
PO 00000
Frm 00099
Fmt 4703
Sfmt 4703
publish the Monthly Median Cost of
Funds Index (MMCOF), the Quarterly
Cost of Funds Index (QCOF), the
Semiannual Cost of Funds Index
(SCOF), and other related cost of funds
ratios currently published monthly in
the OTS’s Cost of Funds (COF) Report.1
FOR FURTHER INFORMATION CONTACT: For
further information about the changes
discussed in this notice, please contact
Jim Caton, Managing Director—
Economic and Industry Analysis, at
(202) 906–5680.
Copies of the reporting form, OMB
No. 1550–0021 (OTS Form 1568), and
instructions for cost of funds reporting
requirements are available on the OTS
Web site through the following link:
https://www.ots.treas.gov/
?p=StatisticalReleases.
SUPPLEMENTARY INFORMATION:
Abstract
Some institutions currently submit
MMCOF data to the OTS monthly for
the OTS’s use in calculating a monthly
median cost of funds index.
Additionally, the OTS publishes two
indices based on calculations from data
included in the Thrift Financial Report
(TFR): 2
1. A quarterly average cost of funds
index, and
2. A semiannual average cost of funds
index.
These indices are used by certain
mortgage lenders as benchmarks from
which to base rate adjustments for
adjustable rate mortgages (ARMs).
Effect of Recent Legislation
The Dodd-Frank Wall Street Reform
and Consumer Protection Act, Public
Law 111–203 (the Dodd-Frank Act), was
enacted into law on July 21, 2010. Title
III of the Dodd-Frank Act abolishes the
OTS, provides for its integration with
the Office of the Comptroller of the
Currency (OCC) effective as of July 21,
2011 (the ‘‘transfer date’’), and transfers
the OTS’s functions to the OCC, the
Board of Governors of the Federal
Reserve System (Board), and the Federal
Deposit Insurance Corporation (FDIC).
Under Title III of the Dodd-Frank Act,
all functions of the OTS relating to
Federal savings associations and
rulemaking authority for all savings
associations are transferred to the OCC.
All functions of the OTS relating to
state-chartered savings associations
(other than rulemaking) are transferred
1 Link to published COF reports: https://
www.ots.treas.gov/?p=StatisticalReleases.
2 Copies of the reporting forms and instructions
for the TFR (OMB No. 1550–0023) can be obtained
on the OTS Web site (https://www.ots.treas.gov/
?p=ThriftFinancialReports).
E:\FR\FM\06JYN1.SGM
06JYN1
]]>Agencies
[Federal Register Volume 76, Number 129 (Wednesday, July 6, 2011)]
[Notices]
[Pages 39473-39474]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-16820]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment Request for Form 1120-PC
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Notice and request for comments.
-----------------------------------------------------------------------
[[Page 39474]]
SUMMARY: The Department of the Treasury, as part of its continuing
effort to reduce paperwork and respondent burden, invites the general
public and other Federal agencies to take this opportunity to comment
on proposed and/or continuing information collections, as required by
the Paperwork Reduction Act of 1995, Public Law 104-13 (44 U.S.C.
3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning
Form 1120-PC, U.S. Property and Casualty Insurance Company Income Tax
Return.
DATES: Written comments should be received on or before September 6,
2011 to be assured of consideration.
ADDRESSES: Direct all written comments to Yvette B. Lawrence, Internal
Revenue Service, room 6129, 1111 Constitution Avenue, NW., Washington,
DC 20224.
FOR FURTHER INFORMATION CONTACT: Requests for additional information or
copies of the form and instructions should be directed to Evelyn J.
Mack, at (202) 622-7381, or at Internal Revenue Service, room 6231,
1111 Constitution, Avenue, NW., Washington, DC 20224, or through the
Internet, at Evelyn.J.Mack@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: U.S. Property and Casualty Insurance Company Income Tax
Return.
OMB Number: 1545-1027.
Form Number: Form 1120-PC.
Abstract: 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.
Current Actions: On Form 1120-PC line changes were made, within
Schedules E and H, to clarify the new restrictions on the deduction of
100% of unearned premiums by section 833 organizations, enable section
833 organizations to determine whether they meet the 85% medical loss
ratio mandated by IRC 833(c)(5) and for qualifying section 833
organizations to compute the special deduction and the ending adjusted
surplus (Pub. L. 111-148, section 9016 and IRC 833(c)(5)). A question
was added to Schedule I for corporations to indicate whether they have
uncertain tax positions (Announcements 2010-9 and 2010-17, and 2010-
30).
On Form 1120-PC (Schedule M-3) two lines were added to monitor IRC
sections 174 and 118, respectively, at the request of LMSB.
Type of Review: Revision of a currently approved collection.
Affected Public: Business or other for-profit organizations.
Estimated Number of Respondents: 4,200.
Estimated Time Per Respondent: 164 hrs., 59 min.
Estimated Total Annual Burden Hours: 671,746.
The following paragraph applies to all of the collections of
information covered by this notice:
An agency may not conduct or sponsor, and a person is not required
to respond to, a collection of information unless the collection of
information displays a valid OMB control number. Books or records
relating to a collection of information must be retained as long as
their contents may become material in the administration of any
internal revenue law. Generally, tax returns and tax return information
are confidential, as required by 26 U.S.C. 6103.
Request For Comments: Comments submitted in response to this notice
will be summarized and/or included in the request for OMB approval. All
comments will become a matter of public record. Comments are invited
on: (a) Whether the collection of information is necessary for the
proper performance of the functions of the agency, including whether
the information shall have practical utility; (b) the accuracy of the
agency's estimate of the burden of the collection of information; (c)
ways to enhance the quality, utility, and clarity of the information to
be collected; (d) ways to minimize the burden of the collection of
information on respondents, including through the use of automated
collection techniques or other forms of information technology; and (e)
estimates of capital or start-up costs and costs of operation,
maintenance, and purchase of services to provide information.
Approved: June 22, 2011.
Yvette B. Lawrence,
IRS Reports Clearance Officer.
[FR Doc. 2011-16820 Filed 7-5-11; 8:45 am]
BILLING CODE 4830-01-P
