Proposed Collection; Comment Request for Regulation Project, 79098 [2016-27113]

Download as PDF asabaliauskas on DSK3SPTVN1PROD with NOTICES 79098 Federal Register / Vol. 81, No. 218 / Thursday, November 10, 2016 / Notices sheet is an effective tool ensuring that critical taxpayer information is obtained and applied during the interview process. Current Actions: There are no changes being made to these forms at this time, however, the agency has updated its most recent number of respondent estimates and updated the collection to include all 11 language translations. Type of Review: Revision of a currently approved collection. Affected Public: Individuals or households, Business or other for-profit organizations, and not-for-profit institutions, and Federal Government. Estimated Number of Responses: 3,700,000. Estimated Time per Response: 17 min. Estimated Total Annual Burden Hours: 616,803. 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: November 1, 2016. Tuawana Pinkston, IRS Reports Clearance Officer. [FR Doc. 2016–27099 Filed 11–9–16; 8:45 am] BILLING CODE 4830–01–P VerDate Sep<11>2014 19:43 Nov 09, 2016 Jkt 241001 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 capitalization of certain policy acquisition expenses. DATES: Written comments should be received on or before January 9, 2017 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 regulations should be directed to LaNita Van Dyke at Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW., Washington, DC 20224, or through the internet at Lanita.VanDyke@irs.gov. SUPPLEMENTARY INFORMATION: Title: Capitalization of Certain Policy Acquisition Expenses. OMB Number: 1545–1287. Regulation Project Number: FI–3–91 (TD 8456). Abstract: Internal Revenue Code section 848 provides that insurance companies’ must capitalize ‘‘specified policy acquisition expenses. In lieu of identifying the categories of expenses that must be capitalized, section 848 requires that a company capitalize an amount of otherwise deductible expenses equal to specified percentages of net premiums with respect to certain types of insurance contracts. Insurance companies that enter into reinsurance agreements must determine the amounts to be capitalized under those agreements consistently. This regulation provides elections to permit the parties to a reinsurance agreement to shift the burden of capitalization for their mutual benefit. Current Actions: There is no change to these existing regulation. Type of Review: Extension of a currently approved collection. SUMMARY: PO 00000 Frm 00132 Fmt 4703 Sfmt 4703 Affected Public: Business or other forprofit organizations. Estimated Number of Respondents: 2,070. Estimated Time per Respondent: 1 hr. Estimated Total Annual Burden Hours: 2,070. 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 toprovide information. Approved: November 1, 2016. Tuawana Pinkston, Supervisory Tax Analyst. [FR Doc. 2016–27113 Filed 11–9–16; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Quarterly Publication of Individuals, Who Have Chosen To Expatriate, as Required by Section 6039G Internal Revenue Service (IRS), Treasury. ACTION: Notice. AGENCY: This notice is provided in accordance with IRC section 6039G of the Health Insurance Portability and Accountability Act (HIPPA) of 1996, as SUMMARY: E:\FR\FM\10NON1.SGM 10NON1

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[Federal Register Volume 81, Number 218 (Thursday, November 10, 2016)]
[Notices]
[Page 79098]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-27113]


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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 
capitalization of certain policy acquisition expenses.

DATES: Written comments should be received on or before January 9, 2017 
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 regulations should be directed to LaNita Van Dyke at 
Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW., 
Washington, DC 20224, or through the internet at 
Lanita.VanDyke@irs.gov.

SUPPLEMENTARY INFORMATION: 
    Title: Capitalization of Certain Policy Acquisition Expenses.
    OMB Number: 1545-1287.
    Regulation Project Number: FI-3-91 (TD 8456).
    Abstract: Internal Revenue Code section 848 provides that insurance 
companies' must capitalize ``specified policy acquisition expenses. In 
lieu of identifying the categories of expenses that must be 
capitalized, section 848 requires that a company capitalize an amount 
of otherwise deductible expenses equal to specified percentages of net 
premiums with respect to certain types of insurance contracts. 
Insurance companies that enter into reinsurance agreements must 
determine the amounts to be capitalized under those agreements 
consistently. This regulation provides elections to permit the parties 
to a reinsurance agreement to shift the burden of capitalization for 
their mutual benefit.
    Current Actions: There is no change to these existing regulation.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents: 2,070.
    Estimated Time per Respondent: 1 hr.
    Estimated Total Annual Burden Hours: 2,070.
    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 toprovide information.

    Approved: November 1, 2016.
Tuawana Pinkston,
Supervisory Tax Analyst.
[FR Doc. 2016-27113 Filed 11-9-16; 8:45 am]
 BILLING CODE 4830-01-P