Proposed Collection; Comment Request for Regulation Project, 75405 [2020-25998]

Download as PDF Federal Register / Vol. 85, No. 228 / Wednesday, November 25, 2020 / Notices mitigate the impacts during these threat scenarios. The purpose of the workshop, which is a key component of stakeholder engagement of the DOT pilot program, is to increase public awareness of realworld incidents of the GPS signal being jammed or spoofed in a maritime environment and to discuss potential options to detect this interference, as well as use of complementary PNT technologies to provide a resilient PNT capability in the maritime environment. Issued this 20th day of November, 2020, in Washington, DC. Diana Furchtgott-Roth, Deputy Assistant Secretary for Research and Technology, U.S. Department of Transportation. [FR Doc. 2020–26120 Filed 11–24–20; 8:45 am] BILLING CODE 4910–9X–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Regulation Project 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 continuing information collections, as required by the Paperwork Reduction Act of 1995. The IRS is soliciting comments concerning the monthly tax return for wagers. SUMMARY: Written comments should be received on or before January 25, 2021 to be assured of consideration. ADDRESSES: Direct all written comments to Kinna Brewington, 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 (202) 317–6009, 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: Monthly Tax Return for Wagers. OMB Number: 1545–0235. Regulation Project Number: Form 730. Abstract: Form 730 is used to identify taxable wagers under Internal Revenue Code section 4401 and collect the tax jbell on DSKJLSW7X2PROD with NOTICES DATES: VerDate Sep<11>2014 16:27 Nov 24, 2020 Jkt 253001 monthly. The information is used to determine if persons accepting wagers are correctly reporting the amount of wagers and paying the required tax. Current Actions: There is no change to this existing form. Type of Review: Extension of a currently approved collection. Affected Public: Businesses or other for-profit organizations and individuals. Estimated Number of Respondents: 51,082. Estimated Time per Respondent: 8 hours, 11 minutes. Estimated Total Annual Burden Hours: 418,362. 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 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: November 18, 2020. Chakinna B. Clemons, Supervisory Tax Analyst. [FR Doc. 2020–25998 Filed 11–24–20; 8:45 am] BILLING CODE 4830–01–P PO 00000 Frm 00123 Fmt 4703 Sfmt 4703 75405 DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Regulation Project Internal Revenue Service (IRS), Treasury. ACTION: Notice and request for comments. AGENCY: The Internal Revenue Service, as part of its effort to reduce paperwork and respondent burden, invites the general public and Federal agencies to take this opportunity to comment on continuing information collections, as required by the Paperwork Reduction Act of 1995. The IRS is soliciting comments concerning Treatment of Gain from the Disposition of Interest in Certain Natural Resource Recapture Property by S Corporations and Their Shareholders. SUMMARY: Written comments should be received on or before January 25, 2021 to be assured of consideration. ADDRESSES: Direct all written comments to Paul D. Adams, Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC 20224. Requests for additional information or copies of the information collection should be directed to Sara Covington, (737) 800–6149, at Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC 20224, or through the internet, at Sara.L.Covington@irs.gov. SUPPLEMENTARY INFORMATION: Title: Treatment of Gain From the Disposition of Interest in Certain Natural Resource Recapture Property by S Corporations and Their Shareholders. OMB Number: 1545–1493. Regulation Project Number: T.D. 8684. Abstract: This regulation prescribes rules under Code section 1254 relating to the treatment by S corporations and their shareholders of gain from the disposition of natural resource recapture property and from the sale or exchange of S corporation stock. Section 1.1254– 4(c)(2) of the regulation provides that gain recognized on the sale or exchange of S corporation stock is not treated as ordinary income if the shareholder attaches a statement to his or her return containing information establishing that the gain is not attributable to section 1254 costs. Current Actions: There is no change to this existing regulation. Type of Review: Extension of a currently approved collection. Affected Public: Business or other forprofit organizations, and individuals. DATES: E:\FR\FM\25NON1.SGM 25NON1

Agencies

[Federal Register Volume 85, Number 228 (Wednesday, November 25, 2020)]
[Notices]
[Page 75405]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-25998]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Regulation Project

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

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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 
continuing information collections, as required by the Paperwork 
Reduction Act of 1995. The IRS is soliciting comments concerning the 
monthly tax return for wagers.

DATES: Written comments should be received on or before January 25, 
2021 to be assured of consideration.

ADDRESSES: Direct all written comments to Kinna Brewington, 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 (202) 317-
6009, at Internal Revenue Service, Room 6526, 1111 Constitution Avenue 
NW, Washington, DC 20224, or through the internet, at 
[email protected].

SUPPLEMENTARY INFORMATION:
    Title: Monthly Tax Return for Wagers.
    OMB Number: 1545-0235.
    Regulation Project Number: Form 730.
    Abstract: Form 730 is used to identify taxable wagers under 
Internal Revenue Code section 4401 and collect the tax monthly. The 
information is used to determine if persons accepting wagers are 
correctly reporting the amount of wagers and paying the required tax.
    Current Actions: There is no change to this existing form.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Businesses or other for-profit organizations and 
individuals.
    Estimated Number of Respondents: 51,082.
    Estimated Time per Respondent: 8 hours, 11 minutes.
    Estimated Total Annual Burden Hours: 418,362.
    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 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: November 18, 2020.
Chakinna B. Clemons,
Supervisory Tax Analyst.
[FR Doc. 2020-25998 Filed 11-24-20; 8:45 am]
BILLING CODE 4830-01-P