Proposed Extension of Information Collection Request Submitted for Public Comment; Comment Request on Burden Related to Adjustments to Basis of Stock and Indebtedness and Treatment of Distributions, 77339 [2020-26455]
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Federal Register / Vol. 85, No. 231 / Tuesday, December 1, 2020 / Notices
Notice of OFAC Actions
On November 25, 2020, OFAC
determined that the property and
interests in property subject to U.S.
jurisdiction of the following persons are
blocked under the relevant sanctions
authority listed below.
Individual
1. AL-KANI, Mohamed (a.k.a. ALKANI, Mohamed Khalifa Abderrahim
Shaqaqi; a.k.a. AL-KANI, Mohammed;
a.k.a. AL-KANI, Muhammad Omar),
Libya; DOB 03 May 1979; nationality
Libya; Gender Male; Passport F86JKFJF
(Libya) (individual) [GLOMAG] (Linked
To: KANIYAT MILITIA).
Designated pursuant to section
1(a)(ii)(C)(1) of Executive Order 13818
of December 20, 2017, ‘‘Blocking the
Property of Persons Involved in Serious
Human Rights Abuse or Corruption,’’ 82
FR 60839, 3 CFR, 2018 Comp., p. 399,
(E.O. 13818) for being a foreign person
who is or has been a leader or official
of an entity, including any government
entity, that has engaged in, or whose
members have engaged in, serious
human rights abuse related to his
tenure.
Entity
1. KANIYAT MILITIA (f.k.a. ‘‘7TH
BRIGADE’’; a.k.a. ‘‘9TH BRIGADE’’;
a.k.a. ‘‘AL-KANI MILITIA’’; a.k.a. ‘‘ALKANIYAT’’; a.k.a. ‘‘KANI BRIGADE’’;
a.k.a. ‘‘KANIAT’’; a.k.a. ‘‘KANIYAT’’;
a.k.a. ‘‘KANYAT’’; f.k.a. ‘‘TARHUNA
7TH BRIGADE’’; f.k.a. ‘‘TARHUNA
BRIGADE’’), Libya [GLOMAG].
Designated pursuant to section
1(a)(ii)(A) of E.O. 13818 for being a
foreign person who is responsible for or
complicit in, or has directly or
indirectly engaged in, serious human
rights abuse.
Dated: November 25, 2020.
Andrea Gacki,
Director, Office of Foreign Assets Control,
U.S. Department of the Treasury.
[FR Doc. 2020–26507 Filed 11–30–20; 8:45 am]
BILLING CODE 4810–AL–P
DEPARTMENT OF THE TREASURY
khammond on DSKJM1Z7X2PROD with NOTICES4
Internal Revenue Service
Proposed Extension of Information
Collection Request Submitted for
Public Comment; Comment Request
on Burden Related to Adjustments to
Basis of Stock and Indebtedness and
Treatment of Distributions
Internal Revenue Service (IRS),
Treasury.
AGENCY:
VerDate Sep<11>2014
18:11 Nov 30, 2020
Notice and request for
comments.
ACTION:
Jkt 253001
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
burden related to adjustments to basis of
stock and indebtedness to shareholders
of S corporations and treatment of
distributions by S corporations to
shareholders.
DATES: Written comments should be
received on or before February 1, 2021
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 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: Adjustments to Basis of Stock
and Indebtedness to Shareholders of S
Corporations and Treatment of
Distributions by S Corporations to
Shareholders.
OMB Number: 1545–1139.
Regulation Project Number: TD 8852.
Abstract: This document contains
final regulations relating to the
passthrough of items of an S corporation
to its shareholders, the adjustments to
the basis of stock of the shareholders,
and the treatment of distributions by an
S corporation. Changes to the applicable
law were made by the Subchapter S
Revision Act of 1982, the Tax Reform
Act of 1984, the Tax Reform Act of
1986, the Technical and Miscellaneous
Revenue Act of 1988, and the Small
Business Job Protection Act of 1996.
These regulations provide the public
with guidance needed to comply with
the applicable law and will affect S
corporations and their shareholders.
Current Actions: There is no change to
the burden previously approved.
Type of Review: Extension of a
currently approved collection.
Affected Public: Business or other forprofit organizations and Individuals.
Estimated Number of Responses:
2,250.
Estimated Time per Respondent: 12
min.
Estimated Total Annual Burden
Hours: 450.
SUMMARY:
PO 00000
Frm 00201
Fmt 4703
Sfmt 4703
77339
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 25, 2020.
Ronald J. Durbala,
IRS Tax Analyst.
[FR Doc. 2020–26455 Filed 11–30–20; 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 Burden Related to Form 5308
Internal Revenue Service (IRS),
Treasury.
ACTION: Notice and request for
comments.
AGENCY:
E:\FR\FM\01DEN1.SGM
01DEN1
]]>Agencies
[Federal Register Volume 85, Number 231 (Tuesday, December 1, 2020)]
[Notices]
[Page 77339]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-26455]
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Extension of Information Collection Request Submitted
for Public Comment; Comment Request on Burden Related to Adjustments to
Basis of Stock and Indebtedness and Treatment of Distributions
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 burden related to adjustments to basis of stock and
indebtedness to shareholders of S corporations and treatment of
distributions by S corporations to shareholders.
DATES: Written comments should be received on or before February 1,
2021 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 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: Adjustments to Basis of Stock and Indebtedness to
Shareholders of S Corporations and Treatment of Distributions by S
Corporations to Shareholders.
OMB Number: 1545-1139.
Regulation Project Number: TD 8852.
Abstract: This document contains final regulations relating to the
passthrough of items of an S corporation to its shareholders, the
adjustments to the basis of stock of the shareholders, and the
treatment of distributions by an S corporation. Changes to the
applicable law were made by the Subchapter S Revision Act of 1982, the
Tax Reform Act of 1984, the Tax Reform Act of 1986, the Technical and
Miscellaneous Revenue Act of 1988, and the Small Business Job
Protection Act of 1996. These regulations provide the public with
guidance needed to comply with the applicable law and will affect S
corporations and their shareholders.
Current Actions: There is no change to the burden previously
approved.
Type of Review: Extension of a currently approved collection.
Affected Public: Business or other for-profit organizations and
Individuals.
Estimated Number of Responses: 2,250.
Estimated Time per Respondent: 12 min.
Estimated Total Annual Burden Hours: 450.
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 25, 2020.
Ronald J. Durbala,
IRS Tax Analyst.
[FR Doc. 2020-26455 Filed 11-30-20; 8:45 am]
BILLING CODE 4830-01-P
