Proposed Collection; Comment Request for Regulation Project, 44091-44092 [2016-15908]

Download as PDF Federal Register / Vol. 81, No. 129 / Wednesday, July 6, 2016 / Notices 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 8275, Disclosure Statement, and Form 8275–R, Regulation Disclosure Statement. Written comments should be received on or before September 6, 2016 to be assured of consideration. ADDRESSES: Direct all written comments to Tuawana Pinkston, Internal Revenue Service, Room 6526, 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 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: 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 forms 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 ehiers on DSK5VPTVN1PROD with NOTICES DATES: VerDate Sep<11>2014 15:04 Jul 05, 2016 Jkt 238001 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 29, 2016. Allan Hopkins, Tax Analyst. BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Publication of Nonconventional Source Production Credit Reference Price for Calendar Year 2015 Internal Revenue Service (IRS), Treasury. AGENCY: ACTION: Notice. Publication of the reference price for the nonconventional source production credit for calendar year 2015. The credit period for nonconventional source production credit ended on December 31, 2013 for facilities producing coke or coke gas (other than from petroleum based products). However, the reference price continues to apply in determining the amount of the enhanced oil recovery credit under section 43, the marginal well production credit under section 45I, and the percentage depletion in case of oil and natural gas produced from marginal properties under section 613A. SUMMARY: The reference price under section 45K(d)(2)(C) for calendar year 2015 applies for purposes of sections 43, 45I, and 613A for taxable year 2016. DATES: PO 00000 Frm 00106 Fmt 4703 Sfmt 4703 Reference Price: The reference price under section 45K(d)(2)(C) for calendar year 2015 is $44.39. FOR FURTHER INFORMATION CONTACT: Martha Garcia, CC:PSI:6, Internal Revenue Service, 1111 Constitution Avenue NW., Washington, DC 20224, Telephone Number (202) 317–6853 (not a toll-free number). Christopher T. Kelley, Special Counsel to the Associate Chief Counsel, (Passthroughs and Special Industries). [FR Doc. 2016–15936 Filed 7–5–16; 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 TD 9107, Guidance Regarding Deduction and Capitalization of Expenditures. DATES: Written comments should be received on or before September 6, 2016 to be assured of consideration. ADDRESSES: Direct all written comments to Tuawana Pinkston, Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW., Washington, DC 20224. FOR FURTHER INFORMATION CONTACT: Requests for additional information or copies of this regulation should be directed to Martha R. Brinson, Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW., Washington, DC 20224, or through the Internet at Martha.R.Brinson@irs.gov. SUPPLEMENTARY INFORMATION: Title: Guidance Regarding Deduction and Capitalization of Expenditures. OMB Number: 1545–1870. Regulation Project Number: TD 9107. Abstract: The information required to be retained by taxpayers will constitute sufficient documentation for purposes of substantiating a deduction. The information will be used by the agency SUMMARY: [FR Doc. 2016–15905 Filed 7–5–16; 8:45 am] 44091 E:\FR\FM\06JYN1.SGM 06JYN1 ehiers on DSK5VPTVN1PROD with NOTICES 44092 Federal Register / Vol. 81, No. 129 / Wednesday, July 6, 2016 / Notices on audit to determine the taxpayer’s entitlement to a deduction. The respondents include taxpayers who engage in certain transactions involving the acquisition of a trade or business or an ownership interest in a legal entity. Current Actions: There is no change in the paperwork burden previously approved by OMB. Type of Review: Extension of a currently approved collection. Affected Public: Business or other forprofit organizations. Estimated Number of Respondents: 3,000. Estimated Time per Respondent: 1 hr. Estimated Total Annual Burden Hours: 3,000. 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 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 27, 2016. Tuawana Pinkston, IRS Reports Clearance Officer. [FR Doc. 2016–15908 Filed 7–5–16; 8:45 am] BILLING CODE 4830–01–P VerDate Sep<11>2014 15:04 Jul 05, 2016 Jkt 238001 DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Information Collection Tools 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 Revenue Procedure 2001–29, Leveraged Leases. DATES: Written comments should be received on or before September 6, 2016 to be assured of consideration. ADDRESSES: Direct all written comments to Tuawana Pinkston, Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW., Washington, DC 20224. FOR FURTHER INFORMATION CONTACT: Requests for additional information or copies of the collection tools should be directed to LaNita Van Dyke, Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW., Washington, DC 20224, or through the Internet at Lanita.VanDyke@irs.gov. SUPPLEMENTARY INFORMATION: Currently, the IRS is seeking comments concerning the following information collection tools, reporting, and record-keeping requirements: Title: Leveraged Leases. OMB Number: 1545–1738. Form Number: Rev Proc 2001–29. Abstract: Revenue Procedure 2001–29 sets forth the information and representations required to be furnished by taxpayers in requests for an advance ruling that a leveraged lease transaction is, in fact, a valid lease for federal income tax purposes. Current Actions: There are no changes being made to the revenue procedure at this time. Type of Review: Extension of a currently approved collection. Affected Public: Individuals or households, business or other for-profit organizations, and not-for-profit institutions. Estimated Number of Respondents: 10. Estimated Time per Respondent: 80 hr. SUMMARY: PO 00000 Frm 00107 Fmt 4703 Sfmt 4703 Estimated Total Annual Reporting Burden hours: 800. 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 28, 2016. Tuawana Pinkston, IRS Reports Clearance Officer. [FR Doc. 2016–15895 Filed 7–5–16; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Form T (Timber). 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, SUMMARY: E:\FR\FM\06JYN1.SGM 06JYN1

Agencies

[Federal Register Volume 81, Number 129 (Wednesday, July 6, 2016)]
[Notices]
[Pages 44091-44092]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-15908]


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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.

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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 TD 
9107, Guidance Regarding Deduction and Capitalization of Expenditures.

DATES: Written comments should be received on or before September 6, 
2016 to be assured of consideration.

ADDRESSES: Direct all written comments to Tuawana Pinkston, Internal 
Revenue Service, Room 6526, 1111 Constitution Avenue NW., Washington, 
DC 20224.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of this regulation should be directed to Martha R. Brinson, 
Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW., 
Washington, DC 20224, or through the Internet at 
Martha.R.Brinson@irs.gov.

SUPPLEMENTARY INFORMATION: 
    Title: Guidance Regarding Deduction and Capitalization of 
Expenditures.
    OMB Number: 1545-1870.
    Regulation Project Number: TD 9107.
    Abstract: The information required to be retained by taxpayers will 
constitute sufficient documentation for purposes of substantiating a 
deduction. The information will be used by the agency

[[Page 44092]]

on audit to determine the taxpayer's entitlement to a deduction. The 
respondents include taxpayers who engage in certain transactions 
involving the acquisition of a trade or business or an ownership 
interest in a legal entity.
    Current Actions: There is no change in the paperwork burden 
previously approved by OMB.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents: 3,000.
    Estimated Time per Respondent: 1 hr.
    Estimated Total Annual Burden Hours: 3,000.
    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 
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 27, 2016.
Tuawana Pinkston,
IRS Reports Clearance Officer.
[FR Doc. 2016-15908 Filed 7-5-16; 8:45 am]
 BILLING CODE 4830-01-P