Prompt Payment Interest Rate; Contract Disputes Act, 37391 [2014-15409]

Download as PDF Federal Register / Vol. 79, No. 126 / Tuesday, July 1, 2014 / Notices and the complete environmental record in making its final decision in this proceeding. The EA is available for public review and comment. Comments must be postmarked by July 31, 2014. ADDRESSES: Comments (an original and one copy) should be sent in writing to: Surface Transportation Board, Case Control Unit, 395 E Street SW., Suite 1015, Washington, DC 20423. The lower left hand corner of the envelope should be marked: Attention: Ms. Diana Wood, Environmental Comments. Comments on the EA may also be filed electronically on the Board’s Web site, www.stb.dot.gov, by clicking on the ‘‘EFILING’’ link. FOR FURTHER INFORMATION CONTACT: Diana Wood by mail at the address above, by telephone at 202–245–0302 [FRS for the hearing impaired (1–800– 877–8339)], or by email at woodd@ stb.dot.gov. DATES: By the Board, Victoria Rutson, Director, Office of Environmental Analysis. Jeffrey Herzig, Clearance Clerk. [FR Doc. 2014–15107 Filed 6–30–14; 8:45 am] BILLING CODE 4915–01–P DEPARTMENT OF THE TREASURY Fiscal Service Prompt Payment Interest Rate; Contract Disputes Act Richard L. Gregg, Fiscal Assistant Secretary. Bureau of the Fiscal Service, Treasury. ACTION: Notice. AGENCY: emcdonald on DSK67QTVN1PROD with NOTICES [FR Doc. 2014–15409 Filed 6–30–14; 8:45 am] BILLING CODE 4810–35–P For the period beginning July 1, 2014, and ending on December 31, 2014, the prompt payment interest rate is 2 per centum per annum. ADDRESSES: Comments or inquiries may be mailed to: E-Commerce Division, Bureau of the Fiscal Service, 401 14th Street SW., Room 306F, Washington, DC 20227. Comments or inquiries may also be emailed to PromptPayment@ fiscal.treasury.gov. A copy of this notice is available at http://www.fms.treas.gov/ prompt/index.html. DATES: Effective July 1, 2014, to December 31, 2014. FOR FURTHER INFORMATION CONTACT: Thomas M. Burnum, E-Commerce Division, (202) 874–6430; or Frank Supik, Attorney-Advisor, Office of the Chief Counsel, (202) 874–6638. SUPPLEMENTARY INFORMATION: An agency that has acquired property or service from a business concern and has failed to pay for the complete delivery of SUMMARY: VerDate Mar<15>2010 19:00 Jun 30, 2014 Jkt 232001 property or service by the required payment date shall pay the business concern an interest penalty. 31 U.S.C. 3902(a). The Contract Disputes Act of 1978, Sec. 12, Public Law 95–563, 92 Stat. 2389, and the Prompt Payment Act, 31 U.S.C. 3902(a), provide for the calculation of interest due on claims at the rate established by the Secretary of the Treasury. The Secretary of the Treasury has the authority to specify the rate by which the interest shall be computed for interest payments under section 12 of the Contract Disputes Act of 1978 and under the Prompt Payment Act. Under the Prompt Payment Act, if an interest penalty is owed to a business concern, the penalty shall be paid regardless of whether the business concern requested payment of such penalty. 31 U.S.C. 3902(c)(1). Agencies must pay the interest penalty calculated with the interest rate, which is in effect at the time the agency accrues the obligation to pay a late payment interest penalty. 31 U.S.C. 3902(a). ‘‘The interest penalty shall be paid for the period beginning on the day after the required payment date and ending on the date on which payment is made.’’ 31 U.S.C. 3902(b). Therefore, notice is given that the Secretary of the Treasury has determined that the rate of interest applicable for the period beginning July 1, 2014, and ending on December 31, 2014, is 2 per centum per annum. 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 safe harbor for valuation under section 475. SUMMARY: PO 00000 Frm 00121 Fmt 4703 Sfmt 4703 37391 Written comments should be received on or before September 2, 2014 to be assured of consideration. ADDRESSES: Direct all written comments to R. Joseph Durbala, Internal Revenue Service, Room 6129, 1111 Constitution Avenue NW., Washington, DC 20224. FOR FURTHER INFORMATION CONTACT: Requests for additional information or copies of the regulations should be directed to Kerry Dennis, at Internal Revenue Service, Room 6129, 1111 Constitution Avenue NW., Washington, DC 20224, or through the Internet at Kerry.Dennis@irs.gov. SUPPLEMENTARY INFORMATION: Title: Safe Harbor for Valuation under Section 475. OMB Number: 1545–1945. Regulation Project Number: TD 9328. Abstract: This document sets forth an elective safe harbor that permits dealers in securities and dealers in commodities to elect to use the values of positions reported on certain financial statements as the fair market values of those positions for purposes of section 475 of the Internal Revenue Code (Code). This safe harbor is intended to reduce the compliance burden on taxpayers and to improve the administrability of the valuation requirement of section 475 for the IRS. Current Actions: There is no change to this existing regulation. Type of Review: Extension of currently approved collection. Affected Public: Business or other forprofit organizations. Estimated Number of Respondents: 12,308. Estimated Average Time per Respondent: 4 hours. Estimated Total Annual Burden Hours: 49,232. The following paragraph applies to all the collections of information covered by this notice. 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 DATES: E:\FR\FM\01JYN1.SGM 01JYN1

Agencies

[Federal Register Volume 79, Number 126 (Tuesday, July 1, 2014)]
[Notices]
[Page 37391]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-15409]


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DEPARTMENT OF THE TREASURY

Fiscal Service


Prompt Payment Interest Rate; Contract Disputes Act

AGENCY: Bureau of the Fiscal Service, Treasury.

ACTION: Notice.

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SUMMARY: For the period beginning July 1, 2014, and ending on December 
31, 2014, the prompt payment interest rate is 2 per centum per annum.

ADDRESSES: Comments or inquiries may be mailed to: E-Commerce Division, 
Bureau of the Fiscal Service, 401 14th Street SW., Room 306F, 
Washington, DC 20227. Comments or inquiries may also be emailed to 
PromptPayment@fiscal.treasury.gov. A copy of this notice is available 
at http://www.fms.treas.gov/prompt/index.html.

DATES: Effective July 1, 2014, to December 31, 2014.

FOR FURTHER INFORMATION CONTACT: Thomas M. Burnum, E-Commerce Division, 
(202) 874-6430; or Frank Supik, Attorney-Advisor, Office of the Chief 
Counsel, (202) 874-6638.

SUPPLEMENTARY INFORMATION: An agency that has acquired property or 
service from a business concern and has failed to pay for the complete 
delivery of property or service by the required payment date shall pay 
the business concern an interest penalty. 31 U.S.C. 3902(a). The 
Contract Disputes Act of 1978, Sec. 12, Public Law 95-563, 92 Stat. 
2389, and the Prompt Payment Act, 31 U.S.C. 3902(a), provide for the 
calculation of interest due on claims at the rate established by the 
Secretary of the Treasury.
    The Secretary of the Treasury has the authority to specify the rate 
by which the interest shall be computed for interest payments under 
section 12 of the Contract Disputes Act of 1978 and under the Prompt 
Payment Act. Under the Prompt Payment Act, if an interest penalty is 
owed to a business concern, the penalty shall be paid regardless of 
whether the business concern requested payment of such penalty. 31 
U.S.C. 3902(c)(1). Agencies must pay the interest penalty calculated 
with the interest rate, which is in effect at the time the agency 
accrues the obligation to pay a late payment interest penalty. 31 
U.S.C. 3902(a). ``The interest penalty shall be paid for the period 
beginning on the day after the required payment date and ending on the 
date on which payment is made.'' 31 U.S.C. 3902(b).
    Therefore, notice is given that the Secretary of the Treasury has 
determined that the rate of interest applicable for the period 
beginning July 1, 2014, and ending on December 31, 2014, is 2 per 
centum per annum.

Richard L. Gregg,
Fiscal Assistant Secretary.
[FR Doc. 2014-15409 Filed 6-30-14; 8:45 am]
BILLING CODE 4810-35-P