Proposed Collection; Comment Request for Limitations on Credit or Refund, 6969-6970 [2021-01465]

Download as PDF Federal Register / Vol. 86, No. 14 / Monday, January 25, 2021 / Notices as a de facto method of revoking an exemption? • On average, how many employees are involved and how many approvals are necessary to complete an initial or amended filing? • Does your bank have a review and approval process involving senior management to evaluate the conclusions reached in the determination for eligibility of an exempt person? • Does your bank have a review and approval process involving senior management for amending or revoking the eligibility of an exempt person? On average, how long does the review process take and how many approvals are necessary? (3) Annual Review • On average, how often does your bank review the eligibility of an exempt person? • On average, how many accounts where the accountholder is an exempt person does your bank review at least annually? • Does your bank maintain a monitoring system to comply with the DOEP reporting requirements? • Does your bank review the monitoring system at least once a year? • On average, how long does it take to review the monitoring system and how many approvals are necessary? • Does your bank maintain records of the annual review? • On average, how long does it take to prepare and maintain records of the review? • Does your bank have a review and approval process involving senior management to evaluate the conclusions reached in the annual review of eligibility? • On average, how long does the annual review process take and how many approvals are necessary? jbell on DSKJLSW7X2PROD with NOTICES (4) Monitoring System • Does your bank maintain a separate monitoring system to track designation of exempt persons for reasons other than to comply with the reporting requirements under 31 CFR 1020.315? • Does your bank maintain a separate monitoring system to identify suspicious activity associated with the accounts of designated exempt persons? • Does your bank have a review and approval process involving senior management to evaluate the conclusions reached in the determination of whether a SAR must be filed for an exempt account? On average, how long does the review process take and how many approvals are necessary? VerDate Sep<11>2014 18:31 Jan 22, 2021 Jkt 253001 (e) General 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: (1) 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; (2) the accuracy of the agency’s estimate of the burden of the collection of information; (3) ways to enhance the quality, utility, and clarity of the information to be collected; (4) 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 5) estimates of capital or start-up costs and costs of operation, maintenance, and purchase of services to provide information. Kenneth A. Blanco, Director, Financial Crimes Enforcement Network. [FR Doc. 2021–01451 Filed 1–22–21; 8:45 am] BILLING CODE 4810–02–P DEPARTMENT OF THE TREASURY Office of Foreign Assets Control Notice of OFAC Sanctions Action Office of Foreign Assets Control, Treasury. AGENCY: ACTION: Notice. The Department of the Treasury’s Office of Foreign Assets Control (OFAC) is publishing the names of one or more persons that have been placed on OFAC’s Specially Designated Nationals and Blocked Persons List based on OFAC’s determination that one or more applicable legal criteria were satisfied. All property and interests in property subject to U.S. jurisdiction of these persons are blocked, and U.S. persons are generally prohibited from engaging in transactions with them. SUMMARY: See SUPPLEMENTARY INFORMATION section for effective date(s). DATES: FOR FURTHER INFORMATION CONTACT: OFAC: Associate Director for Global Targeting, tel.: 202–622–2420; Assistant Director for Sanctions Compliance & Evaluation, tel.: 202–622–2490; Assistant Director for Licensing, tel.: 202–622–2480; or Assistant Director for Regulatory Affairs, tel.: 202–622–4855. SUPPLEMENTARY INFORMATION: PO 00000 Frm 00108 Fmt 4703 Sfmt 4703 6969 Electronic Availability The Specially Designated Nationals and Blocked Persons List and additional information concerning OFAC sanctions programs are available on OFAC’s website (https://www.treasury.gov/ofac). Notice of OFAC Action(s) On January 15, 2021, 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. ALVAREZ CASAS, Lazaro Alberto, Cuba; DOB 1963; Gender Male (individual) [GLOMAG]. 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 relating to the leader’s or official’s tenure. Entity 1. MINISTRY OF INTERIOR (a.k.a. MINISTERIO DEL INTERIOR; a.k.a. ‘‘MININT’’), Aranguren and Carlos Manuel de Cespedes, Havana, Cuba; Organization Established Date Jun 1961 [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: January 15, 2021. Andrea M. Gacki, Director, Office of Foreign Assets Control, U.S. Department of the Treasury. [FR Doc. 2021–01521 Filed 1–22–21; 8:45 am] BILLING CODE 4810–AL–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Limitations on Credit or Refund 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. SUMMARY: E:\FR\FM\25JAN1.SGM 25JAN1 6970 Federal Register / Vol. 86, No. 14 / Monday, January 25, 2021 / Notices The IRS is soliciting comments concerning limitations on credit or refund. Written comments should be received on or before March 26, 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: Limitations on Credit or Refund. OMB Number: 1545–1649. Revenue Procedure: Revenue Procedure 99–21. Abstract: Generally, under section 6511(a), a taxpayer must file a claim for credit or refund of tax within three years after the date of filing a tax return or within two years after the date of payment of the tax, whichever period expires later. Under section 6511(h), the statute of limitations on claims for credit or refund is suspended for any period of an individual taxpayer’s life during which the taxpayer is unable to manage his or her financial affairs because of a medically determinable mental or physical impairment, if the impairment can be expected to result in death, or has lasted (or can be expected to last) for a continuous period of not less than 12 months. Current Actions: There is no change in the paperwork burden previously approved by OMB. The revenue procedure is being submitted for renewal purposes only. Type of Review: Extension of a currently approved collection. Affected Public: Individuals or households. Estimated Number of Respondents: 48,200. Estimated Time per Response: 30 minutes. Estimated Total Annual Burden Hours: 24,100. 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 jbell on DSKJLSW7X2PROD with NOTICES DATES: VerDate Sep<11>2014 18:31 Jan 22, 2021 Jkt 253001 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, 2021. Chakinna B. Clemons, Supervisory Tax Analyst. [FR Doc. 2021–01465 Filed 1–22–21; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Treaty-Based Return Position Disclosure 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 treaty-based return position disclosure. DATES: Written comments should be received on or before March 26, 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 SUMMARY: PO 00000 Frm 00109 Fmt 4703 Sfmt 4703 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: Treaty-Based Return Position Disclosure. OMB Number: 1545–1354. Form Number: Form 8833. Abstract: Form 8833 is used by taxpayers that are required by section 6114 to disclose a treaty-based return position to disclose that position. The form may also be used to make the treaty-based position disclosure required by regulations section 301.7701(b)–7(b) for ‘‘dual resident’’ taxpayers. Current Actions: There is no change in the paperwork burden previously approved by OMB. The form is being submitted for renewal purposes only. Type of Review: Extension of a currently approved collection. Affected Public: Businesses or other for-profits. Estimated Number of Respondents: 4,100. Estimated Time per Response: 6 hours, 16 minutes. Estimated Total Annual Burden Hours: 25,740 hours. 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 E:\FR\FM\25JAN1.SGM 25JAN1

Agencies

[Federal Register Volume 86, Number 14 (Monday, January 25, 2021)]
[Notices]
[Pages 6969-6970]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-01465]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Limitations on Credit or 
Refund

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.

[[Page 6970]]

The IRS is soliciting comments concerning limitations on credit or 
refund.

DATES: Written comments should be received on or before March 26, 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: Limitations on Credit or Refund.
    OMB Number: 1545-1649.
    Revenue Procedure: Revenue Procedure 99-21.
    Abstract: Generally, under section 6511(a), a taxpayer must file a 
claim for credit or refund of tax within three years after the date of 
filing a tax return or within two years after the date of payment of 
the tax, whichever period expires later. Under section 6511(h), the 
statute of limitations on claims for credit or refund is suspended for 
any period of an individual taxpayer's life during which the taxpayer 
is unable to manage his or her financial affairs because of a medically 
determinable mental or physical impairment, if the impairment can be 
expected to result in death, or has lasted (or can be expected to last) 
for a continuous period of not less than 12 months.
    Current Actions: There is no change in the paperwork burden 
previously approved by OMB. The revenue procedure is being submitted 
for renewal purposes only.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals or households.
    Estimated Number of Respondents: 48,200.
    Estimated Time per Response: 30 minutes.
    Estimated Total Annual Burden Hours: 24,100.
    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 15, 2021.
Chakinna B. Clemons,
Supervisory Tax Analyst.
[FR Doc. 2021-01465 Filed 1-22-21; 8:45 am]
BILLING CODE 4830-01-P