Proposed Extension of Information Collection Request Submitted for Public Comment; Comment Request on Returns Regarding Payments of Interest, 65898-65899 [2019-25881]

Download as PDF 65898 Federal Register / Vol. 84, No. 230 / Friday, November 29, 2019 / Notices 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. Comments will be 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 has 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 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 25, 2019. Philippe Thomas, Supervisory Tax Analyst. [FR Doc. 2019–25882 Filed 11–27–19; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Form 14242 and 14242(SP) Internal Revenue Service (IRS), Treasury. ACTION: Notice and request for comments. AGENCY: 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 Form 14242, Reporting Abusive Tax Promotions or Preparers, and Form 14242(SP), Informe las Presuntas Promociones de Planes Abusivos Tributarios o de Preparadores. DATES: Written comments should be received on or before January 28, 2020 to be assured of consideration. ADDRESSES: Direct all written comments to Dr. Philippe Thomas, Internal khammond on DSKJM1Z7X2PROD with NOTICES SUMMARY: VerDate Sep<11>2014 16:49 Nov 27, 2019 Jkt 250001 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 Martha R. Brinson, at (202) 317–5753, or at 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: Reporting Abusive Tax Promotions or Preparers. OMB Number: 1545–2219. Form Number: Form 14242 and Form 14242(SP). Abstract: Form 14242 and Form 14242(SP) are used to document the information necessary to report an abusive tax avoidance scheme. Form 14242 (SP) is the Spanish version of Form 14242. Respondents can be individuals, businesses and tax return preparers. Current Actions: There are no changes being made to the forms at this time. Type of Review: Extension of a currently approved collection. Affected Public: Individuals or Households, Farms, Businesses and other for-profit or not-for-profit organizations. Estimated Number of Respondents: 460. Estimated Time per Respondent: 10 minutes. Estimated Total Annual Burden Hours: 77 hours. 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 PO 00000 Frm 00123 Fmt 4703 Sfmt 4703 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 25, 2019. Philippe Thomas, Supervisory Tax Analyst. [FR Doc. 2019–25883 Filed 11–27–19; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Extension of Information Collection Request Submitted for Public Comment; Comment Request on Returns Regarding Payments of Interest 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 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 collection of information related to the requirements for reporting on returns regarding payments of interest. DATES: Written comments should be received on or before January 28, 2020 to be assured of consideration. ADDRESSES: Direct all written comments to Philippe Thomas, 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 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: Returns regarding payments of interest. OMB Number: 1545–0112. Regulatory Number: TD 7873. Form Number: 1099–INT. Abstract: IRC section 6049 requires payers of interest of $10 or more to file SUMMARY: E:\FR\FM\29NON1.SGM 29NON1 khammond on DSKJM1Z7X2PROD with NOTICES Federal Register / Vol. 84, No. 230 / Friday, November 29, 2019 / Notices a return showing the aggregate amount of interest paid to a payee. Regulations sections 1.6049 4 and 1.6049 7 require Form 1099–INT to be used to report this information. IRC section 6041 and Regulations section 1.6041 1 require persons paying interest (that is not covered under section 6049) of $600 or more in the course of their trades or businesses to report that interest on Form 1099–INT. IRS uses Form 1099– INT to verify compliance with the reporting rules and to verify that the recipient has included the proper amount of interest on his or her income tax return. Current Actions: There is no change to the burden previously approved by OMB. This form is being submitted for renewal purposes only. Type of Review: Extension of a currently approved collection. Affected Public: Business or other forprofit organizations, Federal Government, individuals or households, and not-for-profit institutions. Estimated Number of Responses: 141,555,000. Estimated Time per Respondent: 13 min. Estimated Total Annual Burden Hours: 46,403,150. The following paragraph applies to all 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 if 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 using VerDate Sep<11>2014 16:49 Nov 27, 2019 Jkt 250001 appropriate automated, electronic, mechanical, or other technological collection techniques or other forms of information technology, 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: November 22, 2019. R. Joseph Durbala, IRS Tax Analyst. [FR Doc. 2019–25881 Filed 11–27–19; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Agency Information Collection Activities; Submission for OMB Review; Comment Request; Imposition of Special Measure Against North Korea as a Jurisdiction of Primary Money Laundering Concern Departmental Offices, U.S. Department of the Treasury. ACTION: Notice. AGENCY: The Department of the Treasury will submit the following information collection requests to the Office of Management and Budget (OMB) for review and clearance in accordance with the Paperwork Reduction Act of 1995, on or after the date of publication of this notice. The public is invited to submit comments on these requests. DATES: Comments should be received on or before December 30, 2019 to be assured of consideration. ADDRESSES: Send comments regarding the burden estimate, or any other aspect of the information collection, including suggestions for reducing the burden, to (1) Office of Information and Regulatory Affairs, Office of Management and Budget, Attention: Desk Officer for Treasury, New Executive Office Building, Room 10235, Washington, DC 20503, or email at OIRA_Submission@ OMB.EOP.gov and (2) Treasury PRA Clearance Officer, 1750 Pennsylvania Ave. NW, Suite 8100, Washington, DC 20220, or email at PRA@treasury.gov. FOR FURTHER INFORMATION CONTACT: Copies of the submissions may be obtained from Spencer W. Clark by emailing PRA@treasury.gov, calling (202) 927–5331, or viewing the entire information collection request at www.reginfo.gov. SUMMARY: SUPPLEMENTARY INFORMATION: PO 00000 Frm 00124 Fmt 4703 Sfmt 4703 65899 Financial Crimes Enforcement Network (FinCEN) Title: Imposition of Special Measure Against North Korea as a Jurisdiction of Primary Money Laundering Concern. OMB Control Number: 1506–0071. Type of Review: Extension without change of a currently approved collection. Description: The Director of FinCEN found that the Democratic People’s Republic of Korea (‘‘North Korea’’) is a jurisdiction of primary money laundering concern. FinCEN issued regulations that prohibit covered financial institutions from opening or maintaining a correspondent account in the United States for or on behalf of a North Korean banking institution and which prohibit the use of foreign banking institutions’ correspondent accounts at covered U.S. financial institutions to process transactions involving North Korean financial institutions. Form: None. Affected Public: Businesses or other for-profits. Estimated Number of Respondents: 23,615. Frequency of Response: On Occasion. Estimated Total Number of Annual Responses: 23,615. Estimated Time per Response: 1 hour. Estimated Total Annual Burden Hours: 23,615. Authority: 44 U.S.C. 3501 et seq. Dated: November 25, 2019. Spencer W. Clark, Treasury PRA Clearance Officer. [FR Doc. 2019–25876 Filed 11–27–19; 8:45 am] BILLING CODE 4810–02–P DEPARTMENT OF THE TREASURY Agency Information Collection Activities; Submission for OMB Review; Comment Request; Hizballah Financial Sanctions Regulations— Report on Closure by U.S. Financial Institutions of Correspondent Accounts and Payable-Through Accounts Departmental Offices, U.S. Department of the Treasury. ACTION: Notice. AGENCY: The Department of the Treasury will submit the following information collection requests to the Office of Management and Budget (OMB) for review and clearance in accordance with the Paperwork Reduction Act of 1995, on or after the date of publication of this notice. The public is invited to submit comments on these requests. SUMMARY: E:\FR\FM\29NON1.SGM 29NON1

Agencies

[Federal Register Volume 84, Number 230 (Friday, November 29, 2019)]
[Notices]
[Pages 65898-65899]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-25881]


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

DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Extension of Information Collection Request Submitted 
for Public Comment; Comment Request on Returns Regarding Payments of 
Interest

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 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 collection of information related to the requirements 
for reporting on returns regarding payments of interest.

DATES: Written comments should be received on or before January 28, 
2020 to be assured of consideration.

ADDRESSES: Direct all written comments to Philippe Thomas, 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 R. Joseph Durbala, at Internal Revenue Service, 
Room 6129, 1111 Constitution Avenue NW, Washington, DC 20224, or 
through the internet, at [email protected].

SUPPLEMENTARY INFORMATION: 
    Title: Returns regarding payments of interest.
    OMB Number: 1545-0112.
    Regulatory Number: TD 7873.
    Form Number: 1099-INT.
    Abstract: IRC section 6049 requires payers of interest of $10 or 
more to file

[[Page 65899]]

a return showing the aggregate amount of interest paid to a payee. 
Regulations sections 1.6049 4 and 1.6049 7 require Form 1099-INT to be 
used to report this information. IRC section 6041 and Regulations 
section 1.6041 1 require persons paying interest (that is not covered 
under section 6049) of $600 or more in the course of their trades or 
businesses to report that interest on Form 1099-INT. IRS uses Form 
1099-INT to verify compliance with the reporting rules and to verify 
that the recipient has included the proper amount of interest on his or 
her income tax return.
    Current Actions: There is no change to the burden previously 
approved by OMB. This form is being submitted for renewal purposes 
only.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations, 
Federal Government, individuals or households, and not-for-profit 
institutions.
    Estimated Number of Responses: 141,555,000.
    Estimated Time per Respondent: 13 min.
    Estimated Total Annual Burden Hours: 46,403,150.
    The following paragraph applies to all 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 if 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 using appropriate automated, 
electronic, mechanical, or other technological collection techniques or 
other forms of information technology, 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: November 22, 2019.
R. Joseph Durbala,
IRS Tax Analyst.
[FR Doc. 2019-25881 Filed 11-27-19; 8:45 am]
 BILLING CODE 4830-01-P