Proposed Collection; Comment Request for Certain Returned Magazines, Paperbacks, or Records, 5317 [2021-01018]
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Federal Register / Vol. 86, No. 11 / Tuesday, January 19, 2021 / Notices
Washington, DC 20224, or through the
internet, at Kerry.Dennis@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Electronic Deposit of Tax
Refund of $1 Million or More.
OMB Number: 1545–1763.
Form Number: 8302.
Abstract: This form is used to request
an electronic deposit of a tax refund of
$1 million or more directly into an
account at any U.S. bank or other
financial institution that accepts
electronic deposits.
Current Actions: There is no change to
the form, or the paperwork burden
previously approved by OMB.
Type of Review: Extension of a
currently approved collection.
Affected Public: Business or other forprofit organizations, individuals or
households.
Estimated Number of Respondents:
584.
Estimated Time per Response: 2.96
hours.
Estimated Total Annual Burden
Hours: 1,729.
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.
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.
VerDate Sep<11>2014
19:19 Jan 17, 2021
Jkt 253001
Approved: January 12, 2021.
Chakinna B. Clemons,
Supervisory Tax Analyst.
certain method of accounting, are
affected.
[FR Doc. 2021–00953 Filed 1–15–21; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment
Request for Certain Returned
Magazines, Paperbacks, or Records
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 certain returned magazines,
paperbacks, or records.
DATES: Written comments should be
received on or before March 22, 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
Kerry Dennis, at (202) 317–5751 or
Internal Revenue Service, Room 6526,
1111 Constitution Avenue NW,
Washington, DC 20224, or through the
internet, at Kerry.Dennis@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Certain Returned Magazines,
Paperbacks, or Records.
OMB Number: 1545–0879.
Regulation Project Number: TD 8426
(IA–195–78).
Abstract: The regulations provide
rules relating to an exclusion from gross
income for certain returned
merchandise. The regulations provide
that in addition to physical return of the
merchandise, a written statement listing
certain information may constitute
evidence of the return. Taxpayers who
receive physical evidence of the return
may, in lieu of retaining physical
evidence, retain documentary evidence
of the return. Taxpayers in the trade or
business of selling magazines,
paperbacks, or records, who elect a
SUMMARY:
PO 00000
Frm 00188
Fmt 4703
Sfmt 4703
5317
Current Actions: There is no change
in the paperwork burden previously
approved by OMB. The regulation is
being submitted for renewal purposes
only.
Type of Review: Extension of a
currently approved collection.
Affected Public: Business or other forprofit organizations.
Estimated Number of Respondents:
19,500.
Estimated Time per Response: 25
minutes.
Estimated Total Annual Burden
Hours: 8,125.
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.
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 12, 2021.
Chakinna B. Clemons,
Supervisory Tax Analyst.
[FR Doc. 2021–01018 Filed 1–15–21; 8:45 am]
BILLING CODE 4830–01–P
E:\FR\FM\19JAN1.SGM
19JAN1
]]>Agencies
[Federal Register Volume 86, Number 11 (Tuesday, January 19, 2021)]
[Notices]
[Page 5317]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-01018]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment Request for Certain Returned
Magazines, Paperbacks, or Records
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 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
certain returned magazines, paperbacks, or records.
DATES: Written comments should be received on or before March 22, 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 Kerry Dennis, at (202) 317-
5751 or Internal Revenue Service, Room 6526, 1111 Constitution Avenue
NW, Washington, DC 20224, or through the internet, at
[email protected].
SUPPLEMENTARY INFORMATION:
Title: Certain Returned Magazines, Paperbacks, or Records.
OMB Number: 1545-0879.
Regulation Project Number: TD 8426 (IA-195-78).
Abstract: The regulations provide rules relating to an exclusion
from gross income for certain returned merchandise. The regulations
provide that in addition to physical return of the merchandise, a
written statement listing certain information may constitute evidence
of the return. Taxpayers who receive physical evidence of the return
may, in lieu of retaining physical evidence, retain documentary
evidence of the return. Taxpayers in the trade or business of selling
magazines, paperbacks, or records, who elect a certain method of
accounting, are affected.
Current Actions: There is no change in the paperwork burden
previously approved by OMB. The regulation is being submitted for
renewal purposes only.
Type of Review: Extension of a currently approved collection.
Affected Public: Business or other for-profit organizations.
Estimated Number of Respondents: 19,500.
Estimated Time per Response: 25 minutes.
Estimated Total Annual Burden Hours: 8,125.
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.
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 12, 2021.
Chakinna B. Clemons,
Supervisory Tax Analyst.
[FR Doc. 2021-01018 Filed 1-15-21; 8:45 am]
BILLING CODE 4830-01-P
