Proposed Collection; Comment Request for Regulation Project, 21501-21502 [2013-08295]

Download as PDF TKELLEY on DSK3SPTVN1PROD with NOTICES Federal Register / Vol. 78, No. 69 / Wednesday, April 10, 2013 / Notices Title: Disclosure Statement (Form 8275) and Regulation Disclosure Statement (Form 8275–R). OMB Number: 1545–0889. Form Number: Forms 8275 and 8275– R. Abstract: Internal Revenue Code section 6662 imposes accuracy-related penalties on taxpayers for substantial understatement of tax liability or negligence or disregard of rules and regulations. Code section 6694 imposes similar penalties on return preparers. Regulations sections 1.662–4(e) and (f) provide for reduction of these penalties if adequate disclosure of the tax treatment is made on Form 8275 or, if the position is contrary to regulation on Form 8275–R. Current Actions: There are no changes to the form at this time. Type of Review: Extension of a currently approved collection. Affected Public: Business or other forprofit organizations and individuals, not-for-profit institutions, and farms. Estimated Number of Responses: 666,666. Estimated Time per Response: 5 hours, 34 minutes. Estimated Total Annual Burden Hours: 3,716,664. 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, VerDate Mar<15>2010 17:59 Apr 09, 2013 Jkt 229001 maintenance, and purchase of services to provide information. Approved: March 22, 2013. Yvette Lawrence, IRS Supervisory Tax Analyst. [FR Doc. 2013–08299 Filed 4–9–13; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Regulation Project 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 notional principal contracts; contingent nonperiodic payments. DATES: Written comments should be received on or before June 10, 2013 to be assured of consideration. ADDRESSES: Direct all written comments to Yvette 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 Allan Hopkins, (202) 622–6665, at Internal Revenue Service, Room 6129, 1111 Constitution Avenue NW., Washington, DC 20224, or through the internet at Allan.M.Hopkins@irs.gov. SUMMARY: SUPPLEMENTARY INFORMATION: Title: Notional Principal Contracts; Contingent Nonperiodic Payments. OMB Number: 1545–1876. Form Number: REG–166012–02. Abstract: The collection of information in the proposed regulations is in § 1.446–3(g)(6)(vii) of the Income Tax Regulations, requiring Taxpayers to maintain in their books and records a description of the method used to determine the projected amount of a contingent payment, the projected payment schedules, and the adjustments taken into account under the proposed regulations. The information is required by the IRS to verify compliance with PO 00000 Frm 00164 Fmt 4703 Sfmt 4703 21501 section 446 of the Internal Revenue Code and the method of accounting described in § 1.446–3(g)(6). This information will be used to determine whether the amount of tax has been calculated correctly. The collection of information is required to properly determine the amount of income or deduction to be taken into account. The respondents are sophisticated investors that enter into notional principal contracts with contingent nonperiodic payments. Current Actions: There is no change in the paperwork burden previously approved by OMB. This is being submitted for renewal purposes only. Type of Review: Extension of a currently approved collection. Affected Public: Individuals and Households, Businesses and other forprofit organizations. Estimated Number of Respondents: 4,250. Estimated Time Per Respondent: 6 hours. Estimated Total Annual Burden Hours: 25,500. 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. E:\FR\FM\10APN1.SGM 10APN1 21502 Federal Register / Vol. 78, No. 69 / Wednesday, April 10, 2013 / Notices Approved: March 22, 2013. Yvette Lawrence, IRS Reports Clearance Officer. [FR Doc. 2013–08295 Filed 4–9–13; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF VETERANS AFFAIRS [OMB Control No. 2900–New] Proposed Information Collection (Women Veterans Healthcare Barriers Survey) Veterans Health Administration, Department of Veterans Affairs. ACTION: Notice. AGENCY: In compliance with the Paperwork Reduction Act (PRA) of 1995 (44 U.S.C. 3501–21), this notice announces that the Veterans Health Administration (VHA), Department of Veterans Affairs, will submit the collection of information abstracted below to the Office of Management and Budget (OMB) for review and comment. The PRA submission describes the nature of the information collection and its expected cost and burden; it includes the actual data collection instrument. DATES: Comments must be submitted on or before May 10, 2013. TKELLEY on DSK3SPTVN1PROD with NOTICES SUMMARY: VerDate Mar<15>2010 17:59 Apr 09, 2013 Submit written comments on the collection of information through www.Regulations.gov; or to VA’s OMB Desk Officer, OMB Human Resources and Housing Branch, New Executive Office Building, Room 10235, Washington, DC 20503 (202) 395–7316. Please refer to ‘‘OMB Control No. 2900– NEW, Women Veterans Healthcare Barriers Survey’’ in any correspondence. FOR FURTHER INFORMATION CONTACT: Crystal Rennie, Enterprise Records Service (005R1B), Department of Veterans Affairs, 810 Vermont Avenue NW., Washington, DC 20420, (202) 632– 7492, fax (202) 632–7583 or email crystal.rennie@va.gov. Please refer to ‘‘OMB Control No. 2900–NEW, Women Veterans Healthcare Barriers Survey.’’ SUPPLEMENTARY INFORMATION: Title: Women Veterans Healthcare Barriers Survey. OMB Control Number: 2900–New (Women Veterans Healthcare Barriers Survey). Type of Review: New data collection. Abstract: Women Veterans comprise one of the fastest growing subpopulations of Veterans. Today, there are more than 1.8 million living women Veterans, more than 500,000 of whom have enrolled in the VA Health Care System. Over the last decade, the number of women Veterans using VA health care has nearly doubled. VA is responding by improving access and services for women. The study will help ADDRESSES: Jkt 229001 PO 00000 Frm 00165 Fmt 4703 Sfmt 9990 us better understand barriers women Veterans face accessing VA care, the comprehensiveness of care, and improve our understanding of the longterm consequences of military deployment. The data collected will allow VA to plan and provide better health care for women Veterans and to support reports to Congress about the status of women Veterans’ health care. An agency may not conduct or sponsor, and a person is not required to respond to a collection of information unless it displays a currently valid OMB control number. The Federal Register Notice with a 60-day comment period soliciting comments on this collection of information was published on January 23, 2013, at page 4983. Affected Public: Individuals or households. Estimated Annual Burden: 5,600 hours. Estimated Average Burden per Respondent: 40 minutes. Frequency of Response: One time. Estimated Number of Respondents: 8,400. Dated: April 4, 2013. By direction of the Secretary. Robert C. McFetridge, Director, Office of Regulations Policy and Management, Office of the General Counsel, Department of Veterans Affairs. [FR Doc. 2013–08284 Filed 4–9–13; 8:45 am] BILLING CODE 8320–01–P E:\FR\FM\10APN1.SGM 10APN1

Agencies

[Federal Register Volume 78, Number 69 (Wednesday, April 10, 2013)]
[Notices]
[Pages 21501-21502]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-08295]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Regulation Project

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

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

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 
notional principal contracts; contingent nonperiodic payments.

DATES: Written comments should be received on or before June 10, 2013 
to be assured of consideration.

ADDRESSES: Direct all written comments to Yvette 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 Allan 
Hopkins, (202) 622-6665, at Internal Revenue Service, Room 6129, 1111 
Constitution Avenue NW., Washington, DC 20224, or through the internet 
at Allan.M.Hopkins@irs.gov.

SUPPLEMENTARY INFORMATION: 
    Title: Notional Principal Contracts; Contingent Nonperiodic 
Payments.
    OMB Number: 1545-1876.
    Form Number: REG-166012-02.
    Abstract: The collection of information in the proposed regulations 
is in Sec.  1.446-3(g)(6)(vii) of the Income Tax Regulations, requiring 
Taxpayers to maintain in their books and records a description of the 
method used to determine the projected amount of a contingent payment, 
the projected payment schedules, and the adjustments taken into account 
under the proposed regulations. The information is required by the IRS 
to verify compliance with section 446 of the Internal Revenue Code and 
the method of accounting described in Sec.  1.446-3(g)(6). This 
information will be used to determine whether the amount of tax has 
been calculated correctly. The collection of information is required to 
properly determine the amount of income or deduction to be taken into 
account. The respondents are sophisticated investors that enter into 
notional principal contracts with contingent nonperiodic payments.
    Current Actions: There is no change in the paperwork burden 
previously approved by OMB. This is being submitted for renewal 
purposes only.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals and Households, Businesses and other 
for-profit organizations.
    Estimated Number of Respondents: 4,250.
    Estimated Time Per Respondent: 6 hours.
    Estimated Total Annual Burden Hours: 25,500.
    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.


[[Page 21502]]


    Approved: March 22, 2013.
Yvette Lawrence,
IRS Reports Clearance Officer.
[FR Doc. 2013-08295 Filed 4-9-13; 8:45 am]
BILLING CODE 4830-01-P