Branded Prescription Drug Fee, 43699-43700 [2014-17698]
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Federal Register / Vol. 79, No. 144 / Monday, July 28, 2014 / Proposed Rules
(ii) Shareholder adopts the NAV method
with its taxable year as the computation
period. Shareholder’s net investment in Fund
for Year 1 equals $128,664.66 (the
$1,253,256.37 in purchases, minus the
$1,124,591.71 in redemptions). Shareholder’s
gain therefore is $1,085.34, which is the
ending value of Shareholder’s shares
($5,129,750.00), minus the starting basis of
Shareholder’s shares ($5,000,000.00), minus
Shareholder’s net investment in the fund for
the taxable year ($128,664.66). The gain of
$1,085.34 is treated as short-term capital
gain. Shareholder’s starting basis for Year 2
is $5,129,750.00. Shareholder must also
include the $32,158.23 in dividends in its
income for Year 1 in the same manner as if
Shareholder did not use the NAV method.
(iii) If Shareholder had instead adopted the
calendar month as its computation period, it
would have used the NAV method for
January of Year 1, even though Fund was not
yet a floating-NAV MMF.
(e) Effective/applicability date. This
section applies to taxable years ending
on or after the date of publication in the
Federal Register of a Treasury decision
adopting these proposed regulations as
final regulations. Taxpayers may rely on
this section for taxable years ending on
or after July 28, 2014 and beginning
before the date of publication in the
Federal Register of a Treasury decision
adopting these proposed regulations as
final regulations.
■ Par. 3. Section 1.6045–1 is amended
by revising paragraph (c)(3)(vi) to read
as follows:
§ 1.6045–1 Returns of information of
brokers and barter exchanges.
pmangrum on DSK3VPTVN1PROD with PROPOSALS
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(c) * * *
(3) * * *
(vi) Money market funds—(A) In
general. No return of information is
required with respect to a sale of shares
in a regulated investment company that
is permitted to hold itself out to
investors as a money market fund under
Rule 2a–7 under the Investment
Company Act of 1940.
(B) Effective/applicability date.
Paragraph (c)(3)(vi)(A) of this section
applies to sales of shares in calendar
years beginning on or after the date of
publication in the Federal Register of a
Treasury decision adopting these
proposed regulations as final
regulations. Taxpayers and brokers,
however, may rely on paragraph
(c)(3)(vi)(A) of this section for sales of
shares in calendar years beginning
before the date of publication in the
Federal Register of a Treasury decision
VerDate Mar<15>2010
15:21 Jul 25, 2014
Jkt 232001
adopting these proposed regulations as
final regulations.
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John Dalrymple,
Deputy Commissioner for Services and
Enforcement.
[FR Doc. 2014–17689 Filed 7–23–14; 4:15 pm]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 51
[REG–123286–14]
RIN 1545–BM26
Branded Prescription Drug Fee
Internal Revenue Service (IRS),
Treasury.
ACTION: Notice of proposed rulemaking
by cross-reference to temporary
regulations.
AGENCY:
In the Rules and Regulations
section of this issue of the Federal
Register, the IRS is issuing temporary
regulations relating to the branded
prescription drug fee. This fee was
enacted by section 9008 of the Patient
Protection and Affordable Care Act, as
amended by section 1404 of the Health
Care and Education Reconciliation Act
of 2010, and the Health Care and
Reconciliation Act of 2010 (collectively
the ACA). The proposed regulations
modify the definition of controlled
group for purposes of the branded
prescription drug fee. The proposed
regulations affect persons engaged in the
business of manufacturing or importing
certain branded prescription drugs. The
text of the temporary regulations also
serves as the text of the proposed
regulations.
DATES: Comments and requests for a
public hearing must be received by
October 27, 2014.
ADDRESSES: Send submissions to:
CC:PA:LPD:PR (REG–123286–14), Room
5205, Internal Revenue Service, PO Box
7604, Ben Franklin Station, Washington,
DC 20044. Submissions may be handdelivered to: CC:PA:LPD:PR Monday
through Friday between the hours of 8
a.m. and 4 p.m. to: CC:PA:LPD:PR
(REG–123286–14), Courier’s Desk,
Internal Revenue Service, 1111
Constitution Avenue NW., Washington,
DC, or sent electronically via the
Federal eRulemaking Portal at
www.regulations.gov (IRS REG–123286–
14).
FOR FURTHER INFORMATION CONTACT:
Concerning the proposed regulations,
SUMMARY:
PO 00000
Frm 00007
Fmt 4702
Sfmt 4702
43699
Celia Gabrysh, (202) 317–6855;
concerning submissions of comments
and request for a hearing,
Oluwafunmilayo Taylor, (202) 317–6901
(not toll-free calls).
SUPPLEMENTARY INFORMATION:
Background
Temporary regulations in the Rules
and Regulations section of this issue of
the Federal Register amend §§ 51.2(e)(3)
and 51.11(c) of the Branded Prescription
Drug Fee Regulations, 26 CFR Part 51.
The text of those regulations also serves
as the text of these proposed
regulations. The preamble to the
temporary regulations explains the
amendment.
Special Analyses
It has been determined that this notice
of proposed rulemaking is not a
significant regulatory action as defined
in Executive Order 12866, as
supplemented by Executive Order
13563. Therefore, a regulatory flexibility
assessment is not required. It also has
been determined that section 553(b) of
the Administrative Procedure Act (5
U.S.C. chapter 5) does not apply to these
regulations. Because these regulations
do not impose a collection of
information on small entities, a
Regulatory Flexibility Analysis under
the Regulatory Flexibility Act (5 U.S.C.
chapter 6) is not required. Pursuant to
section 7805(f) of the Internal Revenue
Code, this notice of proposed
rulemaking has been submitted to the
Chief Counsel for Advocacy of the Small
Business Administration for comment
on its impact on small business.
Comments and Requests for a Public
Hearing
Before these proposed regulations are
adopted as final regulations,
consideration will be given to any
comments that are submitted timely to
the IRS as prescribed in this preamble
under the ‘‘Addresses’’ heading.
Comments are requested on all aspects
of the proposed regulations. All
comments will be available at
www.regulations.gov or upon request. A
public hearing may be scheduled if
requested in writing by any person that
timely submits written comments. If a
public hearing is scheduled, notice of
the date, time, and place for the hearing
will be published in the Federal
Register.
Drafting Information
The principal author of these
regulations is Celia Gabrysh, Office of
Associate Chief Counsel (Passthroughs
and Special Industries). However, other
personnel from the IRS and the Treasury
E:\FR\FM\28JYP1.SGM
28JYP1
43700
Federal Register / Vol. 79, No. 144 / Monday, July 28, 2014 / Proposed Rules
Department participated in their
development.
List of Subjects in 26 CFR Part 51
Drugs, Reporting and recordkeeping
requirements.
Proposed Amendments to the
Regulations
Accordingly, 26 CFR part 51 is
proposed to be amended as follows:
PART 51—BRANDED PRESCRIPTION
DRUGS
Paragraph 1. The authority citation
for part 51 continues to read in part as
follows:
■
Authority: Authority: 26 U.S.C. 7805; sec.
9008, Public Law 111–347 (124 Stat. 119).
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Par. 2. Section 51.2 is amended by
revising paragraph (e)(3) to read as
follows:
■
§ 51.2
Explanation of terms.
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(e) * * *
(3) [The text of proposed § 51.2(e)(3)
is the same as the text of § 51.2T(e)(3)
published elsewhere in this issue of the
Federal Register.]
■ Par. 3. Section 51.11 is amended by
revising paragraph (c) to read as follows:
§ 51.11
Effective/applicability date.
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(c) [The text of proposed § 51.11(c) is
the same as the text of § 51.11T(c)
published elsewhere in this issue of the
Federal Register.]
John Dalrymple,
Deputy Commissioner for Services and
Enforcement.
procedures for informing Service
members and individuals who apply for
uniformed service of their civilian
employment and reemployment rights,
benefits, and obligations. The purpose
of this regulatory action is to support
the non-career uniformed service by
taking appropriate actions to inform and
assist uniformed Service members and
former Service members and
individuals who apply for uniformed
service of their rights, benefits, and
obligations under Uniformed Services
Employment and Reemployment Rights
Act (USERRA).
DATES: Comments must be received by
September 26, 2014.
ADDRESSES: You may submit comments,
identified by docket number and/or RIN
number and title, by any of the
following methods:
• Federal Rulemaking Portal: https://
www.regulations.gov. Follow the
instructions for submitting comments.
• Mail: Federal Docket Management
System Office, 4800 Mark Center Drive,
East Tower, Suite 02G09, Alexandria
VA 22350–3100.
Instructions: All submissions received
must include the agency name and
docket number or Regulatory
Information Number (RIN) for this
Federal Register document. The general
policy for comments and other
submissions from members of the public
is to make these submissions available
for public viewing on the Internet at
https://www.regulations.gov as they are
received without change, including any
personal identifiers or contact
information.
FOR FURTHER INFORMATION CONTACT:
Curtis Bell, 571–372–0695.
[FR Doc. 2014–17698 Filed 7–24–14; 4:15 pm]
[Docket ID: DoD–2013–OS–0091]
This
proposed rule is part of DoD’s
retrospective plan, completed in August
2011, under Executive Order 13563,
‘‘Improving Regulation and Regulatory
Review.’’ DoD’s full plan and updates
can be accessed at: https://
www.regulations.gov/#!docket
Detail;dct=FR+PR+N+O+SR;rpp=10;po=
0;D=DOD-2011-OS-0036.
RIN 0790–AJ00
I. Executive Summary
Civilian Employment and
Reemployment Rights for Service
Members, Former Service Members
and Applicants of the Uniformed
Services
a. Purpose
SUPPLEMENTARY INFORMATION:
BILLING CODE 4830–01–P
DEPARTMENT OF DEFENSE
Office of the Secretary
pmangrum on DSK3VPTVN1PROD with PROPOSALS
32 CFR Part 104
Under Secretary of Defense for
Personnel and Readiness, Department of
Defense (DoD).
ACTION: Proposed rule.
AGENCY:
This rule updates established
policy, assigned responsibilities, and
SUMMARY:
VerDate Mar<15>2010
15:21 Jul 25, 2014
Jkt 232001
The purpose of this regulatory action
is to support the non-career uniformed
service by taking appropriate actions to
inform and assist uniformed Service
members, former Service members, and
individuals who apply for uniformed
service of their rights, benefits, and
obligations under USERRA.
b. Legal Authority
PO 00000
38 U.S.C. chapter 43.
Frm 00008
Fmt 4702
Sfmt 4702
The purposes of this chapter are:
(1) To encourage non-career service in
the uniformed services by eliminating or
minimizing the disadvantages to
civilian careers and employment which
can result from such service;
(2) to minimize the disruption to the
lives of persons performing service in
the uniformed services as well as to
their employers, their fellow employees,
and their communities, by providing for
the prompt reemployment of such
persons upon their completion of such
service; and
(3) to prohibit discrimination against
persons because of their service in the
uniformed services.
II. Summary of the Major Provisions
This regulatory action:
a. Establishes procedures to maintain
oversight of an effective program to
ensure that uniformed Service members,
former Service members, and
individuals who apply for uniformed
service are aware of their rights,
benefits, and obligations under
USERRA.
b. Describes policies that serve to
promote and inform uniformed Service
members, former Service members, and
individuals of their rights who apply for
unformed service of their rights under
USERRA.
III. Costs and Benefits
Based on the estimated costs of $3000
per USERRA case that DOL spends to
formally investigate a claim, DoD ESGR
saves the Federal government over $8
million dollars annually. ESGR operates
and maintains a Customer Service
Center (CSC) that acts as the initial entry
point for USERRA complaints,
inquiries, and information requests. The
CSC provides prompt, expert telephonic
and email responses to Service members
and employers on all USERRA related
matters. During Fiscal Year 2012 (FY
(12)), ESGR received 21,521 contacts by
telephone and email. Of those contacts,
2,793 resulted in actual USERRA cases
for mediation purposes. There is no cost
to the general public, including the
Service member. The approximate cost
of $3000 is the estimated cost for the
DOL to investigate formal complaints if
ESGR’s mediation program was not in
place. The benefits of using ESGR
services are Service members receive a
timely response without additional cost.
IV. Background
This rule is designed to provide
information about the USERRA to
Service members, former service
members, individuals who apply, and
their employers through an informal
mediation program run by the Employer
E:\FR\FM\28JYP1.SGM
28JYP1
]]>Agencies
[Federal Register Volume 79, Number 144 (Monday, July 28, 2014)]
[Proposed Rules]
[Pages 43699-43700]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-17698]
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 51
[REG-123286-14]
RIN 1545-BM26
Branded Prescription Drug Fee
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Notice of proposed rulemaking by cross-reference to temporary
regulations.
-----------------------------------------------------------------------
SUMMARY: In the Rules and Regulations section of this issue of the
Federal Register, the IRS is issuing temporary regulations relating to
the branded prescription drug fee. This fee was enacted by section 9008
of the Patient Protection and Affordable Care Act, as amended by
section 1404 of the Health Care and Education Reconciliation Act of
2010, and the Health Care and Reconciliation Act of 2010 (collectively
the ACA). The proposed regulations modify the definition of controlled
group for purposes of the branded prescription drug fee. The proposed
regulations affect persons engaged in the business of manufacturing or
importing certain branded prescription drugs. The text of the temporary
regulations also serves as the text of the proposed regulations.
DATES: Comments and requests for a public hearing must be received by
October 27, 2014.
ADDRESSES: Send submissions to: CC:PA:LPD:PR (REG-123286-14), Room
5205, Internal Revenue Service, PO Box 7604, Ben Franklin Station,
Washington, DC 20044. Submissions may be hand-delivered to:
CC:PA:LPD:PR Monday through Friday between the hours of 8 a.m. and 4
p.m. to: CC:PA:LPD:PR (REG-123286-14), Courier's Desk, Internal Revenue
Service, 1111 Constitution Avenue NW., Washington, DC, or sent
electronically via the Federal eRulemaking Portal at
www.regulations.gov (IRS REG-123286-14).
FOR FURTHER INFORMATION CONTACT: Concerning the proposed regulations,
Celia Gabrysh, (202) 317-6855; concerning submissions of comments and
request for a hearing, Oluwafunmilayo Taylor, (202) 317-6901 (not toll-
free calls).
SUPPLEMENTARY INFORMATION:
Background
Temporary regulations in the Rules and Regulations section of this
issue of the Federal Register amend Sec. Sec. 51.2(e)(3) and 51.11(c)
of the Branded Prescription Drug Fee Regulations, 26 CFR Part 51. The
text of those regulations also serves as the text of these proposed
regulations. The preamble to the temporary regulations explains the
amendment.
Special Analyses
It has been determined that this notice of proposed rulemaking is
not a significant regulatory action as defined in Executive Order
12866, as supplemented by Executive Order 13563. Therefore, a
regulatory flexibility assessment is not required. It also has been
determined that section 553(b) of the Administrative Procedure Act (5
U.S.C. chapter 5) does not apply to these regulations. Because these
regulations do not impose a collection of information on small
entities, a Regulatory Flexibility Analysis under the Regulatory
Flexibility Act (5 U.S.C. chapter 6) is not required. Pursuant to
section 7805(f) of the Internal Revenue Code, this notice of proposed
rulemaking has been submitted to the Chief Counsel for Advocacy of the
Small Business Administration for comment on its impact on small
business.
Comments and Requests for a Public Hearing
Before these proposed regulations are adopted as final regulations,
consideration will be given to any comments that are submitted timely
to the IRS as prescribed in this preamble under the ``Addresses''
heading. Comments are requested on all aspects of the proposed
regulations. All comments will be available at www.regulations.gov or
upon request. A public hearing may be scheduled if requested in writing
by any person that timely submits written comments. If a public hearing
is scheduled, notice of the date, time, and place for the hearing will
be published in the Federal Register.
Drafting Information
The principal author of these regulations is Celia Gabrysh, Office
of Associate Chief Counsel (Passthroughs and Special Industries).
However, other personnel from the IRS and the Treasury
[[Page 43700]]
Department participated in their development.
List of Subjects in 26 CFR Part 51
Drugs, Reporting and recordkeeping requirements.
Proposed Amendments to the Regulations
Accordingly, 26 CFR part 51 is proposed to be amended as follows:
PART 51--BRANDED PRESCRIPTION DRUGS
0
Paragraph 1. The authority citation for part 51 continues to read in
part as follows:
Authority: Authority: 26 U.S.C. 7805; sec. 9008, Public Law 111-
347 (124 Stat. 119).
* * * * *
0
Par. 2. Section 51.2 is amended by revising paragraph (e)(3) to read as
follows:
Sec. 51.2 Explanation of terms.
* * * * *
(e) * * *
(3) [The text of proposed Sec. 51.2(e)(3) is the same as the text
of Sec. 51.2T(e)(3) published elsewhere in this issue of the Federal
Register.]
0
Par. 3. Section 51.11 is amended by revising paragraph (c) to read as
follows:
Sec. 51.11 Effective/applicability date.
* * * * *
(c) [The text of proposed Sec. 51.11(c) is the same as the text of
Sec. 51.11T(c) published elsewhere in this issue of the Federal
Register.]
John Dalrymple,
Deputy Commissioner for Services and Enforcement.
[FR Doc. 2014-17698 Filed 7-24-14; 4:15 pm]
BILLING CODE 4830-01-P
