Proposed Extension of Information Collection Request Submitted for Public Comment; Comment Request Relating to the Guidance on Cost Recovery Under the Income Forecast Method, 22246-22247 [2020-08351]
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Federal Register / Vol. 85, No. 77 / Tuesday, April 21, 2020 / Notices
DEPARTMENT OF TRANSPORTATION
Federal Motor Carrier Safety
Administration
[Docket No. FMCSA–2019–0269]
Agency Information Collection
Activities; Renewal of a CurrentlyApproved Information Collection
Request: Request for Revocation of
Authority Granted
Federal Motor Carrier Safety
Administration (FMCSA), DOT.
ACTION: Notice and request for
comments.
AGENCY:
In accordance with the
Paperwork Reduction Act of 1995,
FMCSA announces its plan to submit
the Information Collection Request (ICR)
described below to the Office of
Management and Budget (OMB) for
review and approval and invites public
comment. FMCSA requests approval to
renew an ICR titled ‘‘Request for
Revocation of Authority Granted.’’
DATES: Please send your comments by
May 21, 2020. OMB must receive your
comments by this date in order to act
quickly on the ICR.
ADDRESSES: Written comments and
recommendations for the proposed
information collection should be sent
within 30 days of publication of this
notice to www.reginfo.gov/public/do/
PRAMain. Find this particular
information collection by selecting
‘‘Currently under 30-day Review—Open
for Public Comments’’ or by using the
search function.
FOR FURTHER INFORMATION CONTACT: Jeff
Secrist, Office of Registration and Safety
Information, Department of
Transportation, Federal Motor Carrier
Safety Administration, West Building
6th Floor, 1200 New Jersey Avenue SE,
Washington, DC 20590. Telephone:
202–385–2367; email jeff.secrist@
dot.gov.
Office hours are from 9 a.m. to 5 p.m.,
Monday through Friday, except Federal
Holidays.
SUPPLEMENTARY INFORMATION:
Title: Request for Revocation of
Authority Granted.
OMB Control Number: 2126–0018.
Type of Request: Renewal of a
currently approved information
collection.
Respondents: Motor Carrier (motor
carrier clerical staff).
Estimated Number of Respondents:
5,901.
Estimated Time per Response: 15
minutes (0.25 hours).
Expiration Date: September 30, 2020.
Frequency of Response: On occasion,
as needed.
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SUMMARY:
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Estimated Total Annual Burden:
1,475 hours.
Background
FMCSA registers for-hire motor
carriers of regulated commodities under
49 U.S.C. 13902, surface freight
forwarders under 49 U.S.C. 13903, and
property brokers under 49 U.S.C. 13904.
Each registration is effective from the
date specified under 49 U.S.C. 13905(c).
Subsection (d) of 49 U.S.C. 13905 also
provides that on application of the
registrant, the Secretary may amend or
revoke a registration, and hence the
registrant’s operating authority. Form
OCE–46 allows these registrants to
apply voluntarily for revocation of their
operating authority or parts thereof. If
the registrant fails to maintain evidence
of the required level of insurance
coverage on file with FMCSA, its
operating authority will be revoked
involuntarily. Although the effect of
both types of revocation is the same,
some registrants prefer to request
voluntary revocation. For various
business reasons, a registrant may
request revocation of some part, but not
all, of its operating authority.
This information collection, which
supports the DOT Strategic Goal of
Safety, reflects modified estimates of
burden hours and costs. For
respondents, the program adjustment
has resulted in increased total burden
hours and an increase in respondent
costs. The burden hour increase is due
to an estimated increase in the number
of annual filings of Form OCE–46 from
3,501 to 5,901 per year, resulting in an
increase of 2,400 responses and 600
burden hours.
The previous iteration of this ICR did
not include estimated labor costs for
respondents; it only reported the
estimated annual burden hours. This
version adds estimated labor costs
according to best practices. The
estimated annual labor cost for industry
resulting from submitting Form OCE–46
is $49,527.
The total annual respondent cost has
decreased by $20,190. This decrease is
due to the fact that respondents may
now file the form online, at no charge.
While the online submission option
exists, FMCSA still estimates that
approximately 1,567 respondents will
continue to file the form by mail, which
incurs notarization and postage fees.
For the Federal Government, the
program costs have increased by
$11,176. While this ICR revised the
Federal labor wage load factor
downward to be consistent with the
methodology used in other FMCSA
ICRs, the overall cost to the Federal
Government increased due to the
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increase in the number of forms
received by FMCSA.
Public Comments Invited: You are
asked to comment on any aspect of this
information collection, including: (1)
Whether the proposed collection is
necessary for the FMCSA to perform it’s
functions; (2) the accuracy of the
estimated burden; (3) ways for the
FMCSA to enhance the quality,
usefulness, and clarity of the collected
information; and (4) ways that the
burden could be minimized without
reducing the quality of the collected
information.
Issued under the authority delegated in 49
CFR 1.87.
Kenneth Riddle,
Acting Associate Administrator,Office of
Research and Registration.
[FR Doc. 2020–08373 Filed 4–20–20; 8:45 am]
BILLING CODE 4910–EX–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Extension of Information
Collection Request Submitted for
Public Comment; Comment Request
Relating to the Guidance on Cost
Recovery Under the Income Forecast
Method
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
guidance on cost recovery under the
income forecast method. More
specifically, the burden associated with
filing Form 8866, Interest Computation
Under the Look-Back Method for
Property Depreciated Under the Income
Forecast Method.
DATES: Written comments should be
received on or before June 22, 2020 to
be assured of consideration.
ADDRESSES: Direct all written comments
to Kinna Brewington, 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 Ronald J. Durbala, at Internal
Revenue Service, Room 6129, 1111
SUMMARY:
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Federal Register / Vol. 85, No. 77 / Tuesday, April 21, 2020 / Notices
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Constitution Avenue NW, Washington,
DC 20224, or through the internet, at
RJoseph.Durbala@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Guidance on Cost Recovery
Under the Income Forecast Method.
OMB Number: 1545–1622.
Form Number: 8866.
Abstract: Taxpayers depreciating
property under the income forecast
method and placed in service after
September 13, 1995, must use Form
8866 to compute and report interest due
or to be refunded under Internal
Revenue Code 167(g)(2). The Internal
Revenue Service uses the information
on Form 8866 to determine if the
interest has been figured correctly.
Current Actions: There is no change to
the burden previously approved by
OMB. This request is being submitted
for renewal purposes only.
Type of Review: Extension of a
currently approved collection.
Affected Public: Individuals or
households, and business or other forprofit organizations.
Estimated Number of Respondents:
3,300.
Estimated Time per Respondent: 13
hours, 51 min.
Estimated Total Annual Burden
Hours: 45,738.
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.
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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: April 14, 2020.
Ronald J. Durbala,
IRS Tax Analyst.
[FR Doc. 2020–08351 Filed 4–20–20; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Publication of Nonconventional Source
Production Credit Reference Price for
Calendar Year 2019
ACTION:
Notice.
Publication of the reference
price for the nonconventional source
production credit for calendar year
2019.
SUMMARY:
FOR FURTHER INFORMATION CONTACT:
Christopher Price, CC:PSI:6, Internal
Revenue Service, 1111 Constitution
Avenue NW, Washington, DC 20224,
Telephone Number (202) 317–6853 (not
a toll-free number).
The credit
period for the nonconventional source
production credit ended on December
31, 2013 for facilities producing coke or
coke gas (other than from petroleum
based products). However, the reference
price continues to apply in determining
the amount of the enhanced oil recovery
credit under section 43 of title 26 of the
U.S.C., the marginal well production
credit under section 45I of title 26 of the
U.S.C., and the applicable percentage
under section 613A of title 26 of the
U.S.C. to be used in determining
percentage depletion in the case of oil
and natural gas produced from marginal
properties.
The reference price under section
45K(d)(2)(C) of title 26 of the U.S.C. for
calendar year 2019 applies for purposes
of sections 43, 45I, and 613A for taxable
year 2020.
Reference Price: The reference price
under section 45K(d)(2)(C) for calendar
year 2019 is $55.55.
SUPPLEMENTARY INFORMATION:
Christopher T. Kelley,
Special Counsel, Passthroughs and Special
Industries.
[FR Doc. 2020–08355 Filed 4–20–20; 8:45 am]
BILLING CODE 4830–01–P
Internal Revenue Service (IRS),
Treasury.
AGENCY:
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]]>Agencies
[Federal Register Volume 85, Number 77 (Tuesday, April 21, 2020)]
[Notices]
[Pages 22246-22247]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-08351]
=======================================================================
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Extension of Information Collection Request Submitted
for Public Comment; Comment Request Relating to the Guidance on Cost
Recovery Under the Income Forecast Method
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 guidance on cost recovery under the income forecast
method. More specifically, the burden associated with filing Form 8866,
Interest Computation Under the Look-Back Method for Property
Depreciated Under the Income Forecast Method.
DATES: Written comments should be received on or before June 22, 2020
to be assured of consideration.
ADDRESSES: Direct all written comments to Kinna Brewington, 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 Ronald J. Durbala, at Internal Revenue Service,
Room 6129, 1111
[[Page 22247]]
Constitution Avenue NW, Washington, DC 20224, or through the internet,
at [email protected].
SUPPLEMENTARY INFORMATION:
Title: Guidance on Cost Recovery Under the Income Forecast Method.
OMB Number: 1545-1622.
Form Number: 8866.
Abstract: Taxpayers depreciating property under the income forecast
method and placed in service after September 13, 1995, must use Form
8866 to compute and report interest due or to be refunded under
Internal Revenue Code 167(g)(2). The Internal Revenue Service uses the
information on Form 8866 to determine if the interest has been figured
correctly.
Current Actions: There is no change to the burden previously
approved by OMB. This request is being submitted for renewal purposes
only.
Type of Review: Extension of a currently approved collection.
Affected Public: Individuals or households, and business or other
for-profit organizations.
Estimated Number of Respondents: 3,300.
Estimated Time per Respondent: 13 hours, 51 min.
Estimated Total Annual Burden Hours: 45,738.
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: April 14, 2020.
Ronald J. Durbala,
IRS Tax Analyst.
[FR Doc. 2020-08351 Filed 4-20-20; 8:45 am]
BILLING CODE 4830-01-P
