Proposed Extension of Information Collection Request Submitted for Public Comment; Election To Expense Certain Refineries, 37986-37987 [2017-17139]

Download as PDF 37986 Federal Register / Vol. 82, No. 155 / Monday, August 14, 2017 / Notices sradovich on DSK3GMQ082PROD with NOTICES [VENEZUELA]. Designated pursuant to section 1(a)(ii)(A)(1) of E.O. 13692 for being responsible for or complicit in, or responsible for ordering, controlling, or otherwise directing, or to have participated in, directly or indirectly, actions or policies that undermine democratic processes or institutions in or in relation to Venezuela. 5. FARIAS PENA, Erika del Valle ´ ˜ (Latin: FARIAS PENA, Erika del Valle), Cojedes, Venezuela; DOB 31 Oct 1972; citizen Venezuela; Gender Female; Cedula No. 9493443 (Venezuela); Constituent of Venezuela’s Constituent Assembly for Ezequiel Zamora Municipality in Cojedes State (individual) [VENEZUELA]. Designated pursuant to section 1(a)(ii)(C) of E.O. 13692 for being a current or former official of the Government of Venezuela. 6. LUGO ARMAS, Bladimir Humberto (a.k.a. LUGO ARMAS, Vladimir Humberto), Caracas, Capital District, Venezuela; DOB 18 Nov 1968; Gender Male; Cedula No. 8760081 (Venezuela); Commander of the Special Unit to the Federal Legislative Palace of Venezuela’s Bolivarian National Guard (individual) [VENEZUELA]. Designated pursuant to section 1(a)(ii)(C) of E.O. 13692 for being a current or former official of the Government of Venezuela. 7. MELENDEZ RIVAS, Carmen Teresa ´ (Latin: MELENDEZ RIVAS, Carmen Teresa), Lara, Venezuela; DOB 03 Nov 1961; POB Barinas, Venezuela; citizen Venezuela; Gender Female; Cedula No. 8146803 (Venezuela); Constituent of Venezuela’s Constituent Assembly for Iribarren Municipality in Lara State (individual) [VENEZUELA]. Designated pursuant to section 1(a)(ii)(C) of E.O. 13692 for being a current or former official of the Government of Venezuela. 8. VIVAS VELASCO, Ramon Dario, Vargas, Venezuela; DOB 12 Jun 1950; citizen Venezuela; Gender Male; Cedula No. 3569721 (Venezuela); Constituent of Venezuela’s Constituent Assembly for Vargas Municipality in Vargas State (individual) [VENEZUELA]. Designated pursuant to section 1(a)(ii)(C) of E.O. 13692 for being a current or former official of the Government of Venezuela. Dated: August 9, 2017. Andrea M. Gacki, Acting Director, Office of Foreign Assets Control. [FR Doc. 2017–17127 Filed 8–11–17; 8:45 am] BILLING CODE 4810–AL–P VerDate Sep<11>2014 16:45 Aug 11, 2017 Jkt 241001 DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Extension of Information Collection Request Submitted for Public Comment; Election To Expense Certain Refineries Internal Revenue Service (IRS), Treasury. ACTION: Notice and request for comments. AGENCY: The Internal Revenue Service, 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. Currently, the IRS is soliciting comments concerning the election to expense certain refineries. DATES: Written comments should be received on or before October 13, 2017 to be assured of consideration. ADDRESSES: Direct all written comments to Tuawana Pinkston, Internal Revenue Service, Room 6141, 1111 Constitution Avenue NW., Washington, DC 20224. Requests for additional information or copies of the regulations should be directed to R. Joseph Durbala, at Internal Revenue Service, Room 6129, 1111 Constitution Avenue NW., Washington, DC 20224, or through the internet, at RJoseph.Durbala@irs.gov. SUPPLEMENTARY INFORMATION: Title: Election To Expense Certain Refineries. OMB Number: 1545–2103. Regulation Project Number: TD 9547. Abstract: This document contains regulations relating to the election to expense qualified refinery property under section 179C of the Internal Revenue Code, and affects taxpayers who own refineries located in the United States. These regulations reflect the Energy Policy Act of 2005. Section 179C of the Internal Revenue Code provides that a taxpayer can elect to treat 50% of the cost of ‘‘qualified refinery property’’ as a deductible expense not chargeable to capital account. The taxpayer makes an election under section 179C by entering the amount of the deduction at the appropriate place on the taxpayer’s timely filed original federal income tax return for the taxable year in which the qualified refinery property is placed in service and by attaching a report specifying (a) the name and address of the refinery and (b) the production SUMMARY: PO 00000 Frm 00148 Fmt 4703 Sfmt 4703 capacity requirement under which the refinery qualifies. If the taxpayer making the expensing election described above is a cooperative described in section 1381, and one or more persons directly holding an ownership interest in the taxpayer are organizations described in section 1381, the taxpayer can elect to allocate all or a portion of the deduction allowable under section 179C to those persons. The allocation must be equal to the person’s ratable share of the total amount allocated, determined on the basis of the person’s ownership interest in the taxpayer/cooperative. Current Actions: There is no change to the burden previously approved. Type of Review: Extension of a currently approved collection. Affected Public: Business or other forprofit organizations. Estimated Number of Respondents: 12. Estimated Time per Respondent: 10 Hours. Estimated Total Annual Burden Hours: 120. 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. Desired Focus of Comments: The Internal Revenue Service (IRS) is particularly interested in comments that: • Evaluate whether the proposed collection of information is necessary for the proper performance of the functions of the agency, including whether the information will have practical utility; • Evaluate the accuracy of the agency’s estimate of the burden of the proposed collection of information, including the validity of the methodology and assumptions used; • Enhance the quality, utility, and clarity of the information to be collected; and • Minimize the burden of the collection of information on those who are to respond, including through the use of appropriate automated, electronic, mechanical, or other technological collection techniques or other forms of information technology, E:\FR\FM\14AUN1.SGM 14AUN1 Federal Register / Vol. 82, No. 155 / Monday, August 14, 2017 / Notices e.g., by permitting electronic submissions of responses. Comments submitted in response to this notice will be summarized and/or included in the ICR for OMB approval of the extension of the information collection; they will also become a matter of public record. Approved: August 8, 2017. R. Joseph Durbala, IRS Tax Analyst. [FR Doc. 2017–17139 Filed 8–11–17; 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 Internal Revenue Service, 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 continuing information collections, as required by the Paperwork Reduction Act of 1995. The IRS is soliciting comments concerning suspension or reduction of safe harbor nonelective contributions. DATES: Written comments should be received on or before October 13, 2017 to be assured of consideration. ADDRESSES: Direct all written comments to L. Brimmer, Internal Revenue Service, room 6529, 1111 Constitution Avenue NW., Washington, DC 20224. Requests for additional information or copies of the regulations should be directed to Kerry Dennis, Internal Revenue Service, Room 6529, 1111 sradovich on DSK3GMQ082PROD with NOTICES SUMMARY: VerDate Sep<11>2014 16:45 Aug 11, 2017 Jkt 241001 Constitution Avenue NW., Washington DC 20224, or through the internet, at Kerry.Dennis@irs.gov. SUPPLEMENTARY INFORMATION: Title: Suspension or Reduction of Safe Harbor Nonelective Contributions. OMB Number: 1545–2191. Regulation Project Number: T.D. 9641. Abstract: The final regulation allows a 401(k) plan using the safe harbor provisions of section 401(k)(12) to suspend or reduce nonelective safe harbor contributions if the employer is operating at an economic loss described in section 412(2)(A). The final regulations permit an employer to reduce or suspend safe harbor nonelective contributions without regard to the financial condition of the employer if notice is provided to participants before the beginning of the plan year which discloses the possibility that the contributions might be reduced or suspended midyear. The final regulations also permit matching contributions to be reduced or suspended under a mid-year amendment if the notice provided to participants before the beginning of the plan year discloses that the contributions might be reduced or suspended mid-year. These notices must also provide that a supplemental notice will be provided to plan participants if a reduction or suspension does occur and that the reduction or suspension will not apply until at least 30 days after the supplemental notice is provided. Current Actions: There is no change to this existing regulation. Type of Review: Extension of a currently approved collection. Affected Public: Individuals and Households, Businesses and other forprofit organizations. Estimated Number of Respondents: 5,000. PO 00000 Frm 00149 Fmt 4703 Sfmt 9990 37987 Estimated Time per Respondent: 2 hours. Estimated Total Annual Burden Hours: 10,000. 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: August 7, 2017. L. Brimmer, Senior Tax Analyst. [FR Doc. 2017–17136 Filed 8–11–17; 8:45 am] BILLING CODE P E:\FR\FM\14AUN1.SGM 14AUN1

Agencies

[Federal Register Volume 82, Number 155 (Monday, August 14, 2017)]
[Notices]
[Pages 37986-37987]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-17139]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Extension of Information Collection Request Submitted 
for Public Comment; Election To Expense Certain Refineries

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

-----------------------------------------------------------------------

SUMMARY: The Internal Revenue Service, 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. Currently, the IRS is soliciting 
comments concerning the election to expense certain refineries.

DATES: Written comments should be received on or before October 13, 
2017 to be assured of consideration.

ADDRESSES: Direct all written comments to Tuawana Pinkston, Internal 
Revenue Service, Room 6141, 1111 Constitution Avenue NW., Washington, 
DC 20224. Requests for additional information or copies of the 
regulations should be directed to R. Joseph Durbala, at Internal 
Revenue Service, Room 6129, 1111 Constitution Avenue NW., Washington, 
DC 20224, or through the internet, at RJoseph.Durbala@irs.gov.

SUPPLEMENTARY INFORMATION: 
    Title: Election To Expense Certain Refineries.
    OMB Number: 1545-2103.
    Regulation Project Number: TD 9547.
    Abstract: This document contains regulations relating to the 
election to expense qualified refinery property under section 179C of 
the Internal Revenue Code, and affects taxpayers who own refineries 
located in the United States. These regulations reflect the Energy 
Policy Act of 2005.
    Section 179C of the Internal Revenue Code provides that a taxpayer 
can elect to treat 50% of the cost of ``qualified refinery property'' 
as a deductible expense not chargeable to capital account. The taxpayer 
makes an election under section 179C by entering the amount of the 
deduction at the appropriate place on the taxpayer's timely filed 
original federal income tax return for the taxable year in which the 
qualified refinery property is placed in service and by attaching a 
report specifying (a) the name and address of the refinery and (b) the 
production capacity requirement under which the refinery qualifies.
    If the taxpayer making the expensing election described above is a 
cooperative described in section 1381, and one or more persons directly 
holding an ownership interest in the taxpayer are organizations 
described in section 1381, the taxpayer can elect to allocate all or a 
portion of the deduction allowable under section 179C to those persons. 
The allocation must be equal to the person's ratable share of the total 
amount allocated, determined on the basis of the person's ownership 
interest in the taxpayer/cooperative.
    Current Actions: There is no change to the burden previously 
approved.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents: 12.
    Estimated Time per Respondent: 10 Hours.
    Estimated Total Annual Burden Hours: 120.
    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.
    Desired Focus of Comments: The Internal Revenue Service (IRS) is 
particularly interested in comments that:
     Evaluate whether the proposed collection of information is 
necessary for the proper performance of the functions of the agency, 
including whether the information will have practical utility;
     Evaluate the accuracy of the agency's estimate of the 
burden of the proposed collection of information, including the 
validity of the methodology and assumptions used;
     Enhance the quality, utility, and clarity of the 
information to be collected; and
     Minimize the burden of the collection of information on 
those who are to respond, including through the use of appropriate 
automated, electronic, mechanical, or other technological collection 
techniques or other forms of information technology,

[[Page 37987]]

e.g., by permitting electronic submissions of responses.
    Comments submitted in response to this notice will be summarized 
and/or included in the ICR for OMB approval of the extension of the 
information collection; they will also become a matter of public 
record.

    Approved: August 8, 2017.
R. Joseph Durbala,
IRS Tax Analyst.
[FR Doc. 2017-17139 Filed 8-11-17; 8:45 am]
 BILLING CODE 4830-01-P