Proposed Collection; Comment Request on Capitalization of Interest, 4356-4357 [2020-01176]
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lotter on DSKBCFDHB2PROD with NOTICES
4356
Federal Register / Vol. 85, No. 16 / Friday, January 24, 2020 / Notices
Abstract: The purpose of the form is
to authenticate the electronic filing of
Form 8963, Report of Health Insurance
Provider Information.
Current Actions: There are no changes
being made to the form at this time.
Type of Review: Extension of a
currently approved collection.
Affected Public: Businesses and other
for-profit organizations and Not-forprofit organizations.
Estimated Number of Respondents:
2,550.
Estimated Time per Respondent: 1
hour 37 minutes.
Estimated Total Annual Burden
Hours: 4,131.
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: January 14, 2020.
Philippe Thomas,
Supervisory Tax Analyst.
[FR Doc. 2020–01173 Filed 1–23–20; 8:45 am]
BILLING CODE 4830–01–P
VerDate Sep<11>2014
17:03 Jan 23, 2020
Jkt 250001
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment
Request for Form 8316
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 Form 8316,
Information Regarding Request for
Refund of Social Security Tax
Erroneously Withheld on Wages
Received by a Nonresident Alien on an
F, J, or M Type Visa.
DATES: Written comments should be
received on or before March 24, 2020 to
be assured of consideration.
ADDRESSES: Direct all written comments
to Dr. Philippe Thomas, 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 should be directed to
LaNita Van Dyke at Internal Revenue
Service, Room 6526, 1111 Constitution
Avenue NW, Washington, DC 20224, or
through the internet at
Lanita.VanDYke@irs.gov@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Information Regarding Request
for Refund of Social Security Tax
Erroneously Withheld on Wages
Received by a Nonresident Alien on an
F, J, or M Type Visa.
OMB Number: 1545–1862.
Form Number: 8316.
Abstract: Certain foreign students and
other nonresident visitors are exempt
from FICA tax for services performed as
specified in the Immigration and
Naturalization Act. Applicants for
refund of this FICA tax withheld by
their employer must complete Form
8316 to verify that they are entitled to
a refund of the FICA, that the employer
has not paid back any part of the tax
withheld and that the taxpayer has
attempted to secure a refund from his/
her employer.
Current Actions: There are no changes
being made to the form at this time.
Type of Review: Extension of a
currently approved collection.
SUMMARY:
PO 00000
Frm 00088
Fmt 4703
Sfmt 4703
Affected Public: Individuals.
Estimated Number of Respondents:
22,000.
Estimated Time per Respondent: 15
minutes.
Estimated Total Annual Burden
Hours: 5,500.
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: January 15, 2020.
Philippe Thomas,
Supervisory Tax Analyst.
[FR Doc. 2020–01172 Filed 1–23–20; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment
Request on Capitalization 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 general public and other
SUMMARY:
E:\FR\FM\24JAN1.SGM
24JAN1
lotter on DSKBCFDHB2PROD with NOTICES
Federal Register / Vol. 85, No. 16 / Friday, January 24, 2020 / Notices
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 TD 8584,
capitalization of interest.
DATES: Written comments should be
received on or before March 24, 2020 to
be assured of consideration.
ADDRESSES: Direct all written comments
to Dr. Philippe Thomas, Internal
Revenue Service, Room 6526, 1111
Constitution Avenue NW, Washington,
DC 20224.
FOR FURTHER INFORMATION CONTACT:
Requests for additional information or
copies of the information collection
should be directed to LaNita Van Dyke
(202) 317–6009, or at Internal Revenue
Service, Room 6526, 1111 Constitution
Avenue NW, Washington, DC 20224, or
through the internet, at
Lanita.VanDyke@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Capitalization of Interest.
OMB Number: 1545–1265.
Regulation Project Number: TD 8584.
Abstract: Internal Revenue Code
section 263A(f) requires taxpayers to
estimate the length of the production
period and total cost of tangible
personal property to determine if
Interest capitalization is required. This
regulation requires taxpayers to
maintain contemporaneous written
records of production period estimates,
to file a ruling request to segregate
activities in applying the interest
capitalization rules, and to request the
consent of the Commissioner to change
their methods of accounting for the
capitalization of interest.
Current Actions: There is no change to
this existing regulation.
Type of Review: Extension of a
currently approved approval.
Affected Public: Individuals or
households, and business or other forprofit organizations.
Estimated Number of Respondents:
500,050.
Estimated Time per Respondent: 14
Minutes.
Estimated Total Annual Burden
Hours: 116,767 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
VerDate Sep<11>2014
17:03 Jan 23, 2020
Jkt 250001
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: January 15, 2020.
Philippe Thomas,
Supervisory Tax Analyst.
[FR Doc. 2020–01176 Filed 1–23–20; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment
Request
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 Tip Reporting
Alternative Commitment Agreement
(TRAC) for Use in the Food and
Beverage Industry; the Tip Rate
Determination Agreement (TRDA) for
industries other than the food and
beverage industry and the gaming
industry.
SUMMARY:
Written comments should be
received on or before March 24, 2020 to
be assured of consideration.
DATES:
PO 00000
Frm 00089
Fmt 4703
Sfmt 4703
4357
Direct all written comments
to Dr. Philippe Thomas, Internal
Revenue Service, Room 6526, 1111
Constitution Avenue NW, Washington,
DC 20224.
FOR FURTHER INFORMATION CONTACT:
Requests for additional information or
copies of the collection tools should be
directed to LaNita Van Dyke, Internal
Revenue Service, Room 6526, 1111
Constitution Avenue NW, Washington,
DC 20224, or through the internet at
LaNita.VanDyke@irs.gov.
SUPPLEMENTARY INFORMATION: Currently,
the IRS is seeking comments concerning
the following information collection
tools, reporting, and record-keeping
requirements:
Title: Tip Reporting Alternative
Commitment Agreement (TRAC) for Use
in the Food and Beverage Industry.
OMB Number: 1545–1549.
Form Number: N/A.
Abstract: Announcement 2000–22,
2000–19 I.R.B. 987, and Announcement
2001–1, #2001–2 I.R.B. p.277, contain
Information required by the Internal
Revenue Service in its compliance
efforts to assist employers and their
employees in understanding and
complying with Internal Revenue Code
section 6053(a), which requires
employees to report all their tips
monthly to their employers.
Current Actions: There is no change
in the paperwork burden previously
approved by OMB.
Type of Review: Extension of a
currently approved collection.
Affected Public: Business or other forprofit organizations.
Estimated Number of Respondents:
41,800.
Estimated Time per Respondent: 7
hrs., 6 min.
Estimated Total Annual Burden
Hours: 296,916.
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.
ADDRESSES:
E:\FR\FM\24JAN1.SGM
24JAN1
]]>Agencies
[Federal Register Volume 85, Number 16 (Friday, January 24, 2020)]
[Notices]
[Pages 4356-4357]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-01176]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment Request on Capitalization 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 general public
and other
[[Page 4357]]
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 TD 8584, capitalization of interest.
DATES: Written comments should be received on or before March 24, 2020
to be assured of consideration.
ADDRESSES: Direct all written comments to Dr. Philippe Thomas, Internal
Revenue Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC
20224.
FOR FURTHER INFORMATION CONTACT: Requests for additional information or
copies of the information collection should be directed to LaNita Van
Dyke (202) 317-6009, or at Internal Revenue Service, Room 6526, 1111
Constitution Avenue NW, Washington, DC 20224, or through the internet,
at [email protected].
SUPPLEMENTARY INFORMATION:
Title: Capitalization of Interest.
OMB Number: 1545-1265.
Regulation Project Number: TD 8584.
Abstract: Internal Revenue Code section 263A(f) requires taxpayers
to estimate the length of the production period and total cost of
tangible personal property to determine if Interest capitalization is
required. This regulation requires taxpayers to maintain
contemporaneous written records of production period estimates, to file
a ruling request to segregate activities in applying the interest
capitalization rules, and to request the consent of the Commissioner to
change their methods of accounting for the capitalization of interest.
Current Actions: There is no change to this existing regulation.
Type of Review: Extension of a currently approved approval.
Affected Public: Individuals or households, and business or other
for-profit organizations.
Estimated Number of Respondents: 500,050.
Estimated Time per Respondent: 14 Minutes.
Estimated Total Annual Burden Hours: 116,767 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 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: January 15, 2020.
Philippe Thomas,
Supervisory Tax Analyst.
[FR Doc. 2020-01176 Filed 1-23-20; 8:45 am]
BILLING CODE 4830-01-P
