Proposed Collection; Comment Request for Form 1099-C, 38669-38670 [2014-15894]

Download as PDF tkelley on DSK3SPTVN1PROD with NOTICES Federal Register / Vol. 79, No. 130 / Tuesday, July 8, 2014 / Notices Reserve Bank of New York, 33 Liberty Street, New York, NY 10045. The meeting will be open to the public via live webcast at http://www.treasury.gov/ ofr. A limited number of seats will be available for those interested in attending the meeting in person, and those seats would be on a first-come, first-served basis. Because the meeting will be held in a secured facility, members of the public who plan to attend the meeting must contact the OFR by email at andrea.b.ianniello@ treasury.gov by 5 p.m. Eastern Time on July 17, 2014 to inform the OFR of their desire to attend the meeting and to receive further instructions about building clearance. FOR FURTHER INFORMATION CONTACT: Andrea Ianniello, Designated Federal Officer, Office of Financial Research, Department of the Treasury, 1500 Pennsylvania Avenue NW., Washington, DC 20220, (202) 622–3002 (this is not a toll-free number), andrea.b.ianniello@ treasury.gov. Persons who have difficulty hearing or speaking may access this number via TTY by calling the toll-free Federal Relay Service at 800–877–8339. SUPPLEMENTARY INFORMATION: Notice of this meeting is provided in accordance with the Federal Advisory Committee Act, 5 U.S.C. App. 2, 10(a)(2), through implementing regulations at 41 CFR 102–3.150, et seq. Public Comment: Members of the public wishing to comment on the business of the Financial Research Advisory Committee are invited to submit written statements by any of the following methods: • Electronic Statements. Email the Committee’s Designated Federal Officer at andrea.b.ianniello@treasury.gov. • Paper Statements. Send paper statements in triplicate to the Financial Research Advisory Committee, Attn: Andrea Ianniello, Office of Financial Research, Department of the Treasury, 1500 Pennsylvania Avenue NW., Washington, DC 20220. The OFR will post statements on the Committee’s Web site, http:// www.treasury.gov/initiatives/ofr/about/ Pages/Financial-Research-AdvisoryCommittee.aspx, including any business or personal information provided, such as names, addresses, email addresses, or telephone numbers. The OFR will also make such statements available for public inspection and copying in the Department of the Treasury’s library, Annex Room 1020, 1500 Pennsylvania Avenue NW., Washington, DC 20220 on official business days between the hours of 8:30 a.m. and 5:30 p.m. Eastern Time. You may make an appointment to VerDate Mar<15>2010 16:48 Jul 07, 2014 Jkt 232001 inspect statements by telephoning (202) 622–0990. All statements, including attachments and other supporting materials, will be part of the public record and subject to public disclosure. You should submit only information that you wish to make available publicly. Tentative Agenda/Topics for Discussion: The Committee provides an opportunity for researchers, industry leaders, and other qualified individuals to offer their advice and recommendations to the OFR, which, among other things, is responsible for collecting and standardizing data on financial institutions and their activities and for supporting the work of Financial Stability Oversight Council. This is the fourth meeting of the Financial Research Advisory Committee. At this meeting, new Committee members will be introduced and briefed on the Committee operations. Topics to be discussed among all members will include OFR progress on prior Committee recommendations, current activities of the OFR, Subcommittee reports to the Committee, and Committee recommendations. For more information on the OFR and the Committee, please visit the OFR Web site at http:// www.treasury.gov/ofr. Dated: July 1, 2014. Barbara Shycoff, Chief of External Affairs. [FR Doc. 2014–15918 Filed 7–7–14; 8:45 am] BILLING CODE 4810–25–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Form 1099–C 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 cancellation of debt. DATES: Written comments should be received on or before September 8, 2014 to be assured of consideration. SUMMARY: PO 00000 Frm 00188 Fmt 4703 Sfmt 4703 38669 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 form and instructions should be directed to Gerald J. Shields, LL.M. at Internal Revenue Service, Room 6129, 1111 Constitution Avenue NW., Washington, DC 20224 or through the Internet at Gerald.J.Shields@irs.gov. SUPPLEMENTARY INFORMATION: Title: Cancellation of Debt. OMB Number: 1545–1424. Form Number: 1099–C. Abstract: Form 1099–C is used by Federal government agencies, financial institutions, and credit unions to report the cancellation or forgiveness of a debt of $600 or more, as required by section 6050P of the Internal Revenue Code. The IRS uses the form to verify compliance with the reporting rules and to verify that the debtor has included the proper amount of canceled debt in income on his or her income tax return. Current Actions: There are no major changes being made to the form at this time. Type of Review: Extension of a currently approved collection. Affected Public: Business or other forprofit organizations, not-for-profit institutions, and the Federal government. Estimated Number of Responses: 3,885,872. Estimated Time Per Response: 13 min. Estimated Total Annual Burden Hours: 854,892. 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 ADDRESSES: E:\FR\FM\08JYN1.SGM 08JYN1 38670 Federal Register / Vol. 79, No. 130 / Tuesday, July 8, 2014 / Notices 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 25, 2014. R. Joseph Durbala, IRS Reports Clearance Officer. [FR Doc. 2014–15894 Filed 7–7–14; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Form 8453–EMP, Form 8453–F, Form 8453–FE, Form 8879–F, and 8879–EMP 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 8453–F, U.S. Estate of Trust Income Tax Declaration and Signature for Electronic and Magnetic Made Filing; Form 8453– FE, U.S. Estate or Trust Declaration and Signature for an IRS e-file Return; Form 8453–EMP, Employment Tax Declaration for an IRS e-file Return; Form 8879–EMP, IRS e-file Signature Authorization for Forms 940, 941, 941– PR, 941–SS, 943, 943–PR, 944, and 945; and Form 8879–F, IRS e-file Signature Authorization for Form 1041. DATES: Written comments should be received on or before September 8, 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 form and instructions should be directed to Gerald J. Shields, tkelley on DSK3SPTVN1PROD with NOTICES SUMMARY: VerDate Mar<15>2010 16:48 Jul 07, 2014 Jkt 232001 LL.M., Internal Revenue Service, Room 6129, 1111 Constitution Avenue NW., Washington, DC 20224 or through the internet at Gerald.J.Shields@irs.gov. SUPPLEMENTARY INFORMATION: Title: Employment Tax Declaration for an IRS e-file Return. OMB Number: 1545–0967. Form Numbers: 8453–EMP. Abstract: This process would allow CI, Exam, Audit, and other IRS employees’ immediate access to the signature document (tax return), instead of submitting a manual request for the document and waiting for someone to manually search, find, and copy/fax/ mail the document to them. Data will be used to verify and affirm the 94X series of forms (excluding the amended series of returns) taxpayer’s signature. The expected respondents will be taxpayers, who file a 94X series of form. Title: U.S. Estate of Trust Income Tax Declaration and Signature for Electronic and Magnetic Media Filing. OMB Number: 1545–0967. Form Numbers: 8453–F. Abstract: This form is used to secure taxpayer signatures and declarations in conjunction with electronic or magnetic media filing of trust and fiduciary income tax returns, Form 8453–F, together with the electronic or magnetic media transmission, will comprise the taxpayer’s income tax return (Form 1041). Title: U.S. Estate or Trust Declaration and Signature for an IRS e-File Return. OMB Number: 1545–0967. Form Numbers: 8453–FE. Abstract: This is a new form for the SB/SE division of the IRS. It is very similar to existing IRS Form 8453–F, U.S. Estate or Trust Income Tax Declaration and Signature for Electronic Filing. This form will only be used as a signature letter to Form 1041. This new form was requested by the Mod-E file division of the IRS, and approved by the SB/SE. It is used as an electronic signature letter for Form 1041, whenever Form 1041 is filed electronically. Form 8453–FE is associated with E-file, while Form 8453–F is associated with Legacy. For 2013, both forms will be used. However, in the future, Form 8453–F will be retired when Legacy is no longer used by the IRS. The authorizing statute is 26 USC Section 7502, Electronic Filing. Title: IRS e-file Signature Authorization for Form 1041. OMB Number: 1545–0967. Form Number: 8879–F. Abstract: This form has been created to provide e-file signature authorization for Form 1041 to foster IRS policy promoting e-filing of returns. The form PO 00000 Frm 00189 Fmt 4703 Sfmt 4703 is necessary to support modernized efile initiatives. This form will reduce paper processing and handling of forms 1041, schedule K–1 (Form 1041), and related forms and schedules. Title: IRS e-file Signature Authorization for Forms 940, 941, 941– PR, 941–SS, 943, 943–PR, 944, and 945. OMB Number: 1545–0967. Form Number: 8879–EMP. Abstract: This process would allow CI, Exam, Audit, and other IRS employees’ immediate access to the signature document (tax return), instead of submitting a manual request for the document and waiting for someone to manually search, find, and copy/fax/ mail the document to them. Data will be used to verify and affirm the 94X series of Forms (excluding the amended series of returns) taxpayer’s signature. Form 8879–EMP will enable an ERO to file and sign electronically. Current Actions: There are changes being made to the information collection at this time. Type of Review: Revision of a currently approved collection. Affected Public: Business or other forprofit organizations, and individuals, or households. Estimated Number of Respondents: 21,001,881. Estimated Time per Respondent: 2 hours and 34 minutes. Estimated Total Annual Burden Hours: 53,784,707. 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 E:\FR\FM\08JYN1.SGM 08JYN1

Agencies

[Federal Register Volume 79, Number 130 (Tuesday, July 8, 2014)]
[Notices]
[Pages 38669-38670]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-15894]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Form 1099-C

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 
cancellation of debt.

DATES: Written comments should be received on or before September 8, 
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 form and instructions should be directed to Gerald J. 
Shields, LL.M. at Internal Revenue Service, Room 6129, 1111 
Constitution Avenue NW., Washington, DC 20224 or through the Internet 
at Gerald.J.Shields@irs.gov.

SUPPLEMENTARY INFORMATION: Title: Cancellation of Debt.
    OMB Number: 1545-1424.
    Form Number: 1099-C.
    Abstract: Form 1099-C is used by Federal government agencies, 
financial institutions, and credit unions to report the cancellation or 
forgiveness of a debt of $600 or more, as required by section 6050P of 
the Internal Revenue Code. The IRS uses the form to verify compliance 
with the reporting rules and to verify that the debtor has included the 
proper amount of canceled debt in income on his or her income tax 
return.
    Current Actions: There are no major changes being made to the form 
at this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations, not-
for-profit institutions, and the Federal government.
    Estimated Number of Responses: 3,885,872.
    Estimated Time Per Response: 13 min.
    Estimated Total Annual Burden Hours: 854,892.
    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

[[Page 38670]]

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 25, 2014.
R. Joseph Durbala,
IRS Reports Clearance Officer.
[FR Doc. 2014-15894 Filed 7-7-14; 8:45 am]
BILLING CODE 4830-01-P