Proposed Collection; Comment Request for Form 8995, 52176-52177 [2019-21307]
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52176
Federal Register / Vol. 84, No. 190 / Tuesday, October 1, 2019 / Notices
the reporting templates described in this
notice. Comments submitted in
response to this notice will be
summarized and 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 OCC, including
whether the information has practical
utility; (b) The accuracy of the OCC’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
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.
Dated: September 24, 2019.
Theodore J. Dowd,
Deputy Chief Counsel, Office of the
Comptroller of the Currency.
[FR Doc. 2019–21211 Filed 9–30–19; 8:45 am]
BILLING CODE 4810–33–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment
Request for Form 8997
Internal Revenue Service (IRS),
Treasury.
ACTION: Notice and request for
comments.
AGENCY:
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.
Currently, the IRS is soliciting
comments concerning New Form 8997
Initial and Annual Statements of
Qualified Opportunity Fund (QOF)
Investments.
Written comments should be
received on or before December 2, 2019
to be assured of consideration.
ADDRESSES: Direct all written comments
to Laurie Brimmer, 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
jbell on DSK3GLQ082PROD with NOTICES
DATES:
VerDate Sep<11>2014
18:10 Sep 30, 2019
Jkt 250001
should be directed to Dionne McLeod,
at (267) 941–6267, Internal Revenue
Service, Room 3256, 600 Arch Street,
Philadelphia, PA 19106, or through the
internet at Dionne.a.McLeod@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Initial and Annual Statements of
Qualified Opportunity Fund (QOF)
Investments.
OMB Number: 1545–xxxx.
Form Number: Form 8997.
Abstract: Form 8997 is filed by
eligible taxpayers holding a qualified
opportunity fund investment at any
point during the tax year.
Current Actions: The Tax Cuts and
Jobs Act (TCJA), section 13823, added
section 1400Z–1 to provide for the
designation of certain low-income
communities as qualified opportunity
zones and added section 1400Z–2 to
provide certain benefits for investments
in these qualified opportunity zones
through investment in qualified
opportunity funds (QOFs). Taxpayers
that invest in qualified opportunity zone
property through a QOF can defer the
recognition of certain gains. Form 8997
is provided by the IRS to accommodate
new section 1400Z–2. It will be used by
eligible taxpayers holding a qualified
opportunity fund (QOF) investment to
report their QOF investments and
deferred gains.
Type of Review: New Information
Collection.
Affected Public: individuals; C
corporations, including regulated
investment companies (RICs) and real
estate investment trusts (REITs);
partnerships; S corporations; trusts; and
estates.
Estimated Number of Respondents:
10,000.
Estimated Time per Respondent: 1.
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:
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(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: September 26, 2019.
Laurie Brimmer,
Senior Tax Analyst.
[FR Doc. 2019–21308 Filed 9–30–19; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment
Request for Form 8995
Internal Revenue Service (IRS),
Treasury.
ACTION: Notice and request for
comments.
AGENCY:
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 Form 8995
Qualified Business Income Deduction
Simplified Computation.
DATES: Written comments should be
received on or before December 2, 2019
to be assured of consideration.
ADDRESSES: Direct all written comments
to Laurie Brimmer, 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 Dionne McLeod,
at (267) 941–6267, Internal Revenue
Service, Room 3256, 600 Arch Street,
Philadelphia, PA 19106. or through the
internet at Dionne.a.McLeod@irs.gov
SUPPLEMENTARY INFORMATION:
Title: Qualified Business Income
Deduction Simplified Computation.
E:\FR\FM\01OCN1.SGM
01OCN1
jbell on DSK3GLQ082PROD with NOTICES
Federal Register / Vol. 84, No. 190 / Tuesday, October 1, 2019 / Notices
OMB Number: 1545–xxxx.
Form Number: 8995.
Abstract: Form 8995 is used by
taxpayers to figure the deduction for
items of income, gain, deduction, and
loss from trades or businesses that are
effectively connected with the conduct
of a trade or business in the U.S. Current
Actions: On December 20, 2017,
Congress passed Public Law 115–97(the
‘‘2017 tax act’’), titled ‘‘An act to
provide for reconciliation pursuant to
titles II and V of the concurrent
resolution on the budget for fiscal year
2018,’’ but colloquially known as the
‘‘Tax Cuts and Jobs Act.’’
In the legislative history of the 2017
tax act, Congress noted that the
reduction in the corporate tax rate did
not mitigate the high rates of tax
imposed on businesses conducted by
noncorporate taxpayers in passthrough
form or through sole proprietorships. In
order to lower rates, Congress
introduced new 199A of the Internal
Revenue Code, which provides an
income tax benefit to investors in noncorporate businesses, i.e., sole
proprietorships, partnerships, and S
corporations. Individuals, trusts, and
estates who invest in such businesses
may be eligible to claim a deduction of
up to 20% of the ‘‘qualified business
income’’ earned by such non-corporate
businesses.
The IRS created new Form 8995 to
allow eligible taxpayers to claim the
deduction.
Type of Review: New Information
Collection.
Affected Public: Estates and Trusts.
Estimated Number of Respondents:
10,000.
Estimated Time per Respondent: 3
hours.
Estimated Total Annual Burden
Hours: 30,000.
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
VerDate Sep<11>2014
18:10 Sep 30, 2019
Jkt 250001
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: September 26, 2019.
Laurie Brimmer,
Senior Tax Analyst.
[FR Doc. 2019–21307 Filed 9–30–19; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF VETERANS
AFFAIRS
Advisory Committee on Cemeteries
and Memorials, Notice of Meeting
Amended
The Department of Veterans Affairs
(VA) gives notice under the Federal
Advisory Committee Act that a meeting
of the Advisory Committee on
Cemeteries and Memorials will be held
on October 22–October 23, 2019. The
meeting sessions will take place at the
Phoenix Regional Benefits Office, 3333
North Central Avenue, Phoenix, Arizona
85012. The meeting sessions will begin
as follows:
Date:
Time:
October 22, 2019
8:00 a.m. to 4:30 p.m.
(Mountain Time—MT).
8:00 a.m. to 5:00 p.m.
MT.
October 23, 2019
The meeting sessions are open to the
public. If you’re interested in attending
the meeting virtually, the dial in
number for both days is 1–800–767–
1750, 02668#.
The purpose of the Committee is to
advise the Secretary of Veterans Affairs
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52177
on the administration of national
cemeteries, soldiers’ lots and plots, the
selection of new national cemetery sites,
the erection of appropriate memorials,
and the adequacy of Federal burial
benefits. The Committee will make
recommendations to the Secretary
regarding such activities.
On Tuesday, October 22, 2019, from
8:00 a.m.–10:00 a.m. MT, the agenda
will include remarks from VA
Leadership. Directly following the
business portion of the meeting, the
Committee and VA Staff will visit the
San Carlos Apache Tribal Veterans’
Cemetery. The Committee will conduct
a tour at the Tribal cemetery from 10:00
a.m.–4:30 p.m. MT (includes travel time
to and from the cemetery and lunch).
Transportation will not be provided for
public guests.
On Wednesday, October 23, 2019,
from 8:00 a.m.–10:00 a.m. MT, the
morning agenda will include remarks
from Arizona state cemetery directors.
Directly following the morning portion
of the meeting, the Committee, VA Staff,
and Cemetery Directors will visit the
National Memorial Cemetery at Arizona.
The Committee will conduct a tour of
the national cemetery from 10:00 a.m.–
1:00 p.m. MT (includes travel time and
lunch). Transportation will not be
provided for public guests. The
afternoon meeting will commence at
1:30 p.m. The Access, Outreach, and
Choice Subcommittee will provide
workgroup status updates from 1:30
p.m.–5:00 p.m. MT.
Any member of the public wishing to
attend the meeting should contact Ms.
Christine Hamilton, Designated Federal
Officer, at (202) 461–5681. The
Committee will also accept written
comments. Comments may be
transmitted electronically to the
Committee at Christine.hamilton1@
va.gov or mailed to the National
Cemetery Administration (40A1), 810
Vermont Avenue NW, Room 400,
Washington, DC 20420. In the public’s
communications with the Committee,
the writers must identify themselves
and state the organizations, associations,
or persons they represent.
Dated: September 26, 2019.
Jelessa M. Burney,
Federal Advisory Committee Management
Officer.
[FR Doc. 2019–21269 Filed 9–30–19; 8:45 am]
BILLING CODE 8320–01–P
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]]>Agencies
[Federal Register Volume 84, Number 190 (Tuesday, October 1, 2019)]
[Notices]
[Pages 52176-52177]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-21307]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment Request for Form 8995
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 Form 8995 Qualified Business Income Deduction
Simplified Computation.
DATES: Written comments should be received on or before December 2,
2019 to be assured of consideration.
ADDRESSES: Direct all written comments to Laurie Brimmer, 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 Dionne
McLeod, at (267) 941-6267, Internal Revenue Service, Room 3256, 600
Arch Street, Philadelphia, PA 19106. or through the internet at
[email protected]
SUPPLEMENTARY INFORMATION:
Title: Qualified Business Income Deduction Simplified Computation.
[[Page 52177]]
OMB Number: 1545-xxxx.
Form Number: 8995.
Abstract: Form 8995 is used by taxpayers to figure the deduction
for items of income, gain, deduction, and loss from trades or
businesses that are effectively connected with the conduct of a trade
or business in the U.S. Current Actions: On December 20, 2017, Congress
passed Public Law 115-97(the ``2017 tax act''), titled ``An act to
provide for reconciliation pursuant to titles II and V of the
concurrent resolution on the budget for fiscal year 2018,'' but
colloquially known as the ``Tax Cuts and Jobs Act.''
In the legislative history of the 2017 tax act, Congress noted that
the reduction in the corporate tax rate did not mitigate the high rates
of tax imposed on businesses conducted by noncorporate taxpayers in
passthrough form or through sole proprietorships. In order to lower
rates, Congress introduced new 199A of the Internal Revenue Code, which
provides an income tax benefit to investors in non-corporate
businesses, i.e., sole proprietorships, partnerships, and S
corporations. Individuals, trusts, and estates who invest in such
businesses may be eligible to claim a deduction of up to 20% of the
``qualified business income'' earned by such non-corporate businesses.
The IRS created new Form 8995 to allow eligible taxpayers to claim
the deduction.
Type of Review: New Information Collection.
Affected Public: Estates and Trusts.
Estimated Number of Respondents: 10,000.
Estimated Time per Respondent: 3 hours.
Estimated Total Annual Burden Hours: 30,000.
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: September 26, 2019.
Laurie Brimmer,
Senior Tax Analyst.
[FR Doc. 2019-21307 Filed 9-30-19; 8:45 am]
BILLING CODE 4830-01-P
