Proposed Collection; Revised: Comment Request for Regulation Project, 47604 [2017-22079]

Download as PDF 47604 Federal Register / Vol. 82, No. 196 / Thursday, October 12, 2017 / Notices Dated: May 16, 2017. Andrea Gacki, Acting Director, Office of Foreign Assets Control. DEPARTMENT OF THE TREASURY Office of Foreign Assets Control Sanctions Actions Pursuant to Executive Order 13581 Office of Foreign Assets Control, Treasury. AGENCY: ACTION: Notice. The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is publishing the name of a person whose property and interests in property have been unblocked pursuant to Executive Order 13581 of July 24, 2011, ‘‘Blocking Property of Transnational Criminal Organizations.’’ SUMMARY: OFAC’s actions described in this notice were effective on May 16, 2017. DATES: The Department of the Treasury’s Office of Foreign Assets Control: Assistant Director for Licensing, tel.: 202–622– 2480, Assistant Director for Regulatory Affairs, tel.: 202–622–4855, Assistant Director for Sanctions Compliance & Evaluation, tel.: 202–622–2490; or the Department of the Treasury’s Office of the Chief Counsel (Foreign Assets Control), Office of the General Counsel, tel.: 202–622–2410. FOR FURTHER INFORMATION CONTACT: SUPPLEMENTARY INFORMATION: Electronic Availability The list of Specially Designated Nationals and Blocked Persons (SDN List) and additional information concerning OFAC sanctions programs are available from OFAC’s Web site at http://www.treasury.gov/ofac. Notice of OFAC Actions On May 16, 2017, OFAC removed from the SDN List the person listed below, whose property and interests in property were blocked pursuant to Executive Order 13581. asabaliauskas on DSKBBXCHB2PROD with NOTICES Individual 1. FERRARI, Raffaella, Parkshot House, 5 Kew Road, Richmond, Surrey TW9 2PR, United Kingdom; Kingston upon Thames, United Kingdom; 69 Buchanan Street, Glasgow, Scotland G1 3HL, United Kingdom; DOB 01 Nov 1972 to 30 Nov 1972; nationality Italy (individual) [TCO] (Linked To: PACNET SERVICES LTD.; Linked To: CHEXX ITALIA SRL; Linked To: THE PAYMENTS FACTORY LTD.; Linked To: COUNTING HOUSE SERVICES LTD.; Linked To: PACNET GROUP). VerDate Sep<11>2014 22:35 Oct 11, 2017 Jkt 244001 desires the election to apply. This section also provides that the holder should attach to the return a statement that the holder is making the election under this section. We estimate 5,000 Editorial note: This document was received taxpayers will be affected by this for publication by the Office of the Federal requirement and that it will take Register on October 6, 2017. approximately 0.5 hours to prepare this [FR Doc. 2017–22095 Filed 10–11–17; 8:45 am] statement. The burden for the BILLING CODE 4810–AL–P requirement is approximately 2,500 hours. DEPARTMENT OF THE TREASURY Type of Review: Revision of a currently approved collection. Internal Revenue Service Affected Public: Businesses or other for-profit organizations and individuals. Proposed Collection; Revised: Comment Request for Regulation Estimated Number of Respondents: Project 5,000. Estimated Time per Respondent: 0.5 AGENCY: Internal Revenue Service (IRS), hours Treasury. ACTION: Notice and request for Estimated Total Annual Burden comments. Hours: 2,500. The following paragraph applies to all SUMMARY: The Internal Revenue Service of the collections of information covered (IRS), as part of its continuing effort to by this notice: reduce paperwork and respondent burden, invites the general public and An agency may not conduct or other Federal agencies to take this sponsor, and a person is not required to opportunity to comment on information respond to, a collection of information collections, as required by the unless the collection of information Paperwork Reduction Act of 1995. The displays a valid OMB control number. IRS is soliciting comments concerning Books or records relating to a collection amortizable bond premium. of information must be retained as long as their contents may become material DATES: Written comments should be received on or before December 11, 2017 in the administration of any internal revenue law. Generally, tax returns and to be assured of consideration. tax return information are confidential, ADDRESSES: Direct all written comments as required by 26 U.S.C. 6103. to L. Brimmer, Internal Revenue Service, Room 6526, 1111 Constitution Request for Comments: Comments Avenue NW., Washington, DC 20224. submitted in response to this notice will Requests for additional information or be summarized and/or included in the copies of the regulations should be request for OMB approval. All directed to Martha R. Brinson, Internal comments will become a matter of Revenue Service, Room 6526, 1111 public record. Comments are invited on: Constitution Avenue NW., Washington, (a) Whether the collection of DC 20224, or through the Internet at information is necessary for the proper Martha.R.Brinson@irs.gov. performance of the functions of the agency, including whether the SUPPLEMENTARY INFORMATION: Title: Amortizable Bond Premium. information shall have practical utility; OMB Number: 1545–1491. (b) the accuracy of the agency’s estimate Regulation Project Number: T.D. 8746. of the burden of the collection of Abstract: This regulation addresses information; (c) ways to enhance the the tax treatment of bond premium. The quality, utility, and clarity of the regulation provides that a holder may information to be collected; (d) ways to make an election to amortize bond minimize the burden of the collection of premium on a taxable bond by offsetting information on respondents, including interest income with bond premium, through the use of automated collection and the holder must attach a statement techniques or other forms of information to their tax return providing certain technology; and (e) estimates of capital information. The information requested or start-up costs and costs of operation, is necessary for the IRS to determine maintenance, and purchase of services whether a holder has elected to amortize to provide information. bond premium. Approved: October 3, 2017. Current Actions: Under § 1.171– L. Brimmer, 4(a)(1), a holder makes the election to Senior Tax Analyst. amortize bond premium in the holder’s [FR Doc. 2017–22079 Filed 10–11–17; 8:45 am] timely filed income tax return for the first taxable year to which the holder BILLING CODE 4830–01–P PO 00000 Frm 00159 Fmt 4703 Sfmt 9990 E:\FR\FM\12OCN1.SGM 12OCN1

Agencies

[Federal Register Volume 82, Number 196 (Thursday, October 12, 2017)]
[Notices]
[Page 47604]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-22079]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Revised: Comment Request for Regulation 
Project

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

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SUMMARY: The Internal Revenue Service (IRS), 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 information collections, as required by the Paperwork Reduction Act 
of 1995. The IRS is soliciting comments concerning amortizable bond 
premium.

DATES: Written comments should be received on or before December 11, 
2017 to be assured of consideration.

ADDRESSES: Direct all written comments to L. Brimmer, Internal Revenue 
Service, Room 6526, 1111 Constitution Avenue NW., Washington, DC 20224. 
Requests for additional information or copies of the regulations 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: Amortizable Bond Premium.
    OMB Number: 1545-1491.
    Regulation Project Number: T.D. 8746.
    Abstract: This regulation addresses the tax treatment of bond 
premium. The regulation provides that a holder may make an election to 
amortize bond premium on a taxable bond by offsetting interest income 
with bond premium, and the holder must attach a statement to their tax 
return providing certain information. The information requested is 
necessary for the IRS to determine whether a holder has elected to 
amortize bond premium.
    Current Actions: Under Sec.  1.171-4(a)(1), a holder makes the 
election to amortize bond premium in the holder's timely filed income 
tax return for the first taxable year to which the holder desires the 
election to apply. This section also provides that the holder should 
attach to the return a statement that the holder is making the election 
under this section. We estimate 5,000 taxpayers will be affected by 
this requirement and that it will take approximately 0.5 hours to 
prepare this statement. The burden for the requirement is approximately 
2,500 hours.
    Type of Review: Revision of a currently approved collection.
    Affected Public: Businesses or other for-profit organizations and 
individuals.
    Estimated Number of Respondents: 5,000.
    Estimated Time per Respondent: 0.5 hours
    Estimated Total Annual Burden Hours: 2,500.
    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: October 3, 2017.
L. Brimmer,
Senior Tax Analyst.
[FR Doc. 2017-22079 Filed 10-11-17; 8:45 am]
 BILLING CODE 4830-01-P