Credit for Indian Coal Production and Inflation Adjustment Factor for Calendar Years 2018 and 2019, 3486 [2020-00884]

Download as PDF 3486 Federal Register / Vol. 85, No. 13 / Tuesday, January 21, 2020 / Notices having engaged in, facilitated, or been responsible for the exportation of workers from North Korea, including exportation to generate revenue for the Government of North Korea or the Workers Party of Korea. Also designated pursuant Section 104(b)(1)(L) of the North Korea Sanctions and Policy Enhancement Act of 2016, Pub. L. 114–122, as amended by section 311 of the Countering America’s Adversaries Through Sanctions Act (Pub. L. 115–44) (NKSPEA, as amended) for knowingly, directly or indirectly, engaged in, facilitated, or having been responsible for the exportation of workers from North Korea in a manner intended to generate significant revenue, directly or indirectly, for use by the Government of North Korea or by the Worker’s Party of Korea. Designated pursuant to section 2(a)(vii) of E.O. 13722, for having materially assisted, sponsored, or provided financial, material, or technological support for, or goods and services to or in support of KOREA NAMGANG TRADING CORPORATION, an entity whose property and interests in property are blocked pursuant to E.O. 13722. Also designated pursuant Section 104(b)(1)(A) of NKSPEA, as amended, knowingly engaging in, contributing to, assisting, sponsoring, or providing financial, material or technological support for, or goods and services in support of, KOREA NAMGANG TRADING CORPORATION, an entity whose property and interests in property are blocked pursuant to E.O. 13722 and NKSPEA, as amended. Also designated pursuant to section 2(a)(vii) of E.O. 13722, for having materially assisted, sponsored, or provided financial, material, or technological support for, or goods and services to or in support of NAMGANG CONSTRUCTION, an entity whose property and interests in property are blocked pursuant to E.O. 13722. 128 of Division Q of the Further Consolidated Appropriations Act, 2020 (Pub. L. 116–94) extends the credit period for the Indian coal production credit from a 12-year period beginning on January 1, 2006, to a 15-year period beginning on January 1, 2006. This provision is effective for coal produced in the United States or a possession thereof after December 31, 2017. DATES: The 2018 inflation adjustment factor applies to calendar year 2018 sales of Indian coal produced in the United States or a possession thereof. The 2019 inflation adjustment factor applies to calendar year 2019 sales of Indian coal produced in the United States or a possession thereof. Inflation Adjustment Factor: The inflation adjustment factor for calendar year 2018 for Indian coal is 1.2330. The inflation adjustment factor for calendar year 2019 for Indian coal is 1.2627. Credit Amount for Indian Coal: As required by section 45(e)(10)(B)(ii), the $2.00 amount in section 45(e)(10)(B)(i) is adjusted by multiplying such amount by the inflation adjustment factor for the calendar year. Under the calculation required by section 45(e)(10)(B)(ii), the credit for Indian coal production for calendar year 2018 under section 45(e)(10)(B) is $2.466 per ton on the sale of Indian coal. Under the calculation required by section 45(e)(10)(B)(ii), the credit for Indian coal production for calendar year 2019 under section 45(e)(10)(B) is $2.525 per ton on the sale of Indian coal. FOR FURTHER INFORMATION CONTACT: Charles Hyde, CC:PSI:6, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224, (202) 317–6853 (not a toll-free number). DEPARTMENT OF THE TREASURY [FR Doc. 2020–00771 Filed 1–17–20; 8:45 am] BILLING CODE 4810–AL–P DEPARTMENT OF THE TREASURY Internal Revenue Service Credit for Indian Coal Production and Inflation Adjustment Factor for Calendar Years 2018 and 2019 Internal Revenue Service (IRS), Treasury. ACTION: Publication of inflation adjustment factor for Indian coal production for calendar years 2018 and 2019 under section 45(e)(10)(B) (26 U.S.C. 45(e)(10)(B)) of the Internal Revenue Code. jbell on DSKJLSW7X2PROD with NOTICES AGENCY: The inflation adjustment factor is used in determining the availability of the credit for Indian coal production under section 45. Section SUMMARY: VerDate Sep<11>2014 18:20 Jan 17, 2020 Jkt 250001 Christopher T. Kelley, Special Counsel to the Associate Chief Counsel, (Passthroughs and Special Industries). [FR Doc. 2020–00884 Filed 1–17–20; 8:45 am] BILLING CODE 4830–01–P PO 00000 Frm 00152 Fmt 4703 Sfmt 4703 Electronic Tax Administration Advisory Committee (ETAAC); Nominations Internal Revenue Service, Department of the Treasury. ACTION: Request for nominations. AGENCY: The Internal Revenue Service (IRS) is requesting applications from individuals with experience in such areas as state tax administration, cybersecurity and information security, tax software development, tax preparation, payroll and tax financial product processing, systems management and improvement, implementation of customer service initiatives, public administration, and consumer advocacy to be considered for selection as members of the Electronic Tax Administration Advisory Committee (ETAAC). The IRS also strongly encourages representatives from consumer groups with an interest in tax issues to apply. DATES: Written nominations must be received on or before February 14, 2020. ADDRESSES: Nominations should be sent to: Sean Parman, IRS National Public Liaison Office, CL:NPL:SRM, Room 7559, 1111 Constitution Avenue NW, Washington, DC 20224, Attn: ETAAC Nominations. Applications may also be submitted via fax to 855–811–8020 or via email at PublicLiaison@irs.gov. Application packages are available on the IRS website at https://www.irs.gov/ e-file-providers/apply-for-membershipon-the-electronic-tax-administrationadvisory-committee-etaac. Application packages may also be requested by telephone from National Public Liaison, 202–317–6247 (not a toll-free number). FOR FURTHER INFORMATION CONTACT: Sean Parman at (202) 317–6247, or send an email to publicliaison@irs.gov. SUMMARY: E:\FR\FM\21JAN1.SGM 21JAN1 EN21JA20.000</GPH> Dated: January 14, 2020. Andrea M. Gacki, Director, Office of Foreign Assets Control. Internal Revenue Service

Agencies

[Federal Register Volume 85, Number 13 (Tuesday, January 21, 2020)]
[Notices]
[Page 3486]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-00884]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Credit for Indian Coal Production and Inflation Adjustment Factor 
for Calendar Years 2018 and 2019

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Publication of inflation adjustment factor for Indian coal 
production for calendar years 2018 and 2019 under section 45(e)(10)(B) 
(26 U.S.C. 45(e)(10)(B)) of the Internal Revenue Code.

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SUMMARY: The inflation adjustment factor is used in determining the 
availability of the credit for Indian coal production under section 45. 
Section 128 of Division Q of the Further Consolidated Appropriations 
Act, 2020 (Pub. L. 116-94) extends the credit period for the Indian 
coal production credit from a 12-year period beginning on January 1, 
2006, to a 15-year period beginning on January 1, 2006. This provision 
is effective for coal produced in the United States or a possession 
thereof after December 31, 2017.

DATES: The 2018 inflation adjustment factor applies to calendar year 
2018 sales of Indian coal produced in the United States or a possession 
thereof. The 2019 inflation adjustment factor applies to calendar year 
2019 sales of Indian coal produced in the United States or a possession 
thereof.
    Inflation Adjustment Factor: The inflation adjustment factor for 
calendar year 2018 for Indian coal is 1.2330. The inflation adjustment 
factor for calendar year 2019 for Indian coal is 1.2627.
    Credit Amount for Indian Coal: As required by section 
45(e)(10)(B)(ii), the $2.00 amount in section 45(e)(10)(B)(i) is 
adjusted by multiplying such amount by the inflation adjustment factor 
for the calendar year. Under the calculation required by section 
45(e)(10)(B)(ii), the credit for Indian coal production for calendar 
year 2018 under section 45(e)(10)(B) is $2.466 per ton on the sale of 
Indian coal. Under the calculation required by section 
45(e)(10)(B)(ii), the credit for Indian coal production for calendar 
year 2019 under section 45(e)(10)(B) is $2.525 per ton on the sale of 
Indian coal.

FOR FURTHER INFORMATION CONTACT: Charles Hyde, CC:PSI:6, Internal 
Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224, 
(202) 317-6853 (not a toll-free number).

Christopher T. Kelley,
Special Counsel to the Associate Chief Counsel, (Passthroughs and 
Special Industries).
[FR Doc. 2020-00884 Filed 1-17-20; 8:45 am]
BILLING CODE 4830-01-P