Proposed Collection; Comment Request for Regulation Project, 37364 [2015-16055]
Download as PDF
<![CDATA[
asabaliauskas on DSK5VPTVN1PROD with NOTICES
37364
Federal Register / Vol. 80, No. 125 / Tuesday, June 30, 2015 / Notices
should be directed to LaNita Van Dyke,
Internal Revenue Service, Room 6517,
1111 Constitution Avenue NW.,
Washington, DC 20224, or through the
Internet at LaNita.VanDyke@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Clear Reflection of Income in
the Case of Hedging Transactions.
OMB Number: 1545–1412.
Regulation Project Number: FI–54–93
(TD 8554).
Abstract: This regulation provides
guidance to taxpayers regarding when
gain or loss from common business
hedging transactions is recognized for
tax purposes and requires that the books
and records maintained by a taxpayer
disclose the method or methods used to
account for different types of hedging
transactions.
Current Actions: There is no change to
this existing regulation.
Type of Review: Extension of a
currently approved collection.
Affected Public: Business or other forprofit organizations.
Estimated Number of Respondents:
110,000.
Estimated Time per Respondent: 12
minutes.
Estimated Total Annual Burden
Hours: 22,000.
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
VerDate Sep<11>2014
17:34 Jun 29, 2015
Jkt 235001
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, 2015,
Christie Preston,
IRS Reports Clearance Officer.
[FR Doc. 2015–16057 Filed 6–29–15; 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 an
existing final regulation, PS–105–75 (TD
8348), Limitations on Percentage
Depletion in the Case of Oil and Gas
Wells (Section 1.613A–3(l)).
DATES: Written comments should be
received on or before August 31, 2015
to be assured of consideration.
ADDRESSES: Direct all written comments
to Christie Preston, Internal Revenue
Service, Room 6129, 1111 Constitution
Avenue NW., Washington, DC 20224.
FOR FURTHER INFORMATION CONTACT:
Requests for additional information or
copies of the regulation should be
directed to LaNita Van Dyke, Internal
Revenue Service, room 6517, 1111
Constitution Avenue NW., Washington,
DC 20224, or through the internet, at
LaNita.VanDyke@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Limitations on Percentage
Depletion in the Case of Oil and Gas
Wells.
OMB Number: 1545–0919.
Regulation Project Number: PS–105–
75 (TD 8348).
SUMMARY:
PO 00000
Frm 00146
Fmt 4703
Sfmt 9990
Abstract: Section 1.613A–3(1) of the
regulation requires each partner to
separately keep records of his or her
share of the adjusted basis of
partnership oil and gas property and
requires each partnership, trust, estate,
and operator to provide to certain
persons the information necessary to
compute depletion with respect to oil or
gas.
Current Actions: There is no change to
this existing regulation.
Type of Review: Extension of a
currently approved collection.
Affected Public: Business or other forprofit organizations.
The burden associated with this
collection of information is reflected on
Forms 1065, 1041, and 706.
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, 2015.
Christie Preston,
IRS Reports Clearance Officer.
[FR Doc. 2015–16055 Filed 6–29–15; 8:45 am]
BILLING CODE 4830–01–P
E:\FR\FM\30JNN1.SGM
30JNN1
]]>Agencies
[Federal Register Volume 80, Number 125 (Tuesday, June 30, 2015)]
[Notices]
[Page 37364]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-16055]
-----------------------------------------------------------------------
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 an
existing final regulation, PS-105-75 (TD 8348), Limitations on
Percentage Depletion in the Case of Oil and Gas Wells (Section 1.613A-
3(l)).
DATES: Written comments should be received on or before August 31, 2015
to be assured of consideration.
ADDRESSES: Direct all written comments to Christie Preston, Internal
Revenue Service, Room 6129, 1111 Constitution Avenue NW., Washington,
DC 20224.
FOR FURTHER INFORMATION CONTACT: Requests for additional information or
copies of the regulation should be directed to LaNita Van Dyke,
Internal Revenue Service, room 6517, 1111 Constitution Avenue NW.,
Washington, DC 20224, or through the internet, at
LaNita.VanDyke@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Limitations on Percentage Depletion in the Case of Oil and
Gas Wells.
OMB Number: 1545-0919.
Regulation Project Number: PS-105-75 (TD 8348).
Abstract: Section 1.613A-3(1) of the regulation requires each
partner to separately keep records of his or her share of the adjusted
basis of partnership oil and gas property and requires each
partnership, trust, estate, and operator to provide to certain persons
the information necessary to compute depletion with respect to oil or
gas.
Current Actions: There is no change to this existing regulation.
Type of Review: Extension of a currently approved collection.
Affected Public: Business or other for-profit organizations.
The burden associated with this collection of information is
reflected on Forms 1065, 1041, and 706.
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, 2015.
Christie Preston,
IRS Reports Clearance Officer.
[FR Doc. 2015-16055 Filed 6-29-15; 8:45 am]
BILLING CODE 4830-01-P
