Proposed Collection; Comment Request for Regulation Project, 51726-51727 [2021-20022]
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51726
Federal Register / Vol. 86, No. 177 / Thursday, September 16, 2021 / Notices
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: August 26, 2021.
Chakinna B. Clemons,
Supervisory Tax Analyst.
[FR Doc. 2021–20018 Filed 9–15–21; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment
Request for Rev. Proc. 99–17
Internal Revenue Service (IRS),
Treasury.
ACTION: Notice and request for
comments.
AGENCY:
The Internal Revenue Service
(IRS), 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 information
collections, as required by the
Paperwork Reduction Act of 1995. The
IRS is soliciting comments concerning
Mark to Market Election for
Commodities Dealers and Securities and
Commodities Traders.
DATES: Written comments should be
received on or before November 15,
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 this revenue procedure should
be directed to LaNita Van Dyke, (202)
317–6009, or at Internal Revenue
Service, Room 6526, 1111 Constitution
Avenue NW, Washington, DC 20224, or
through the internet at
Lanita.VanDyke@irs.gov.
SUMMARY:
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16:44 Sep 15, 2021
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SUPPLEMENTARY INFORMATION:
Title: Mark to Market Election for
Commodities Dealers and Securities and
Commodities Traders.
OMB Number: 1545–1641 Revenue
Procedure Number: Rev. Proc. 99–17
(Revenue Procedure 99–17 is modified
by Revenue Procedure 99–49).
Abstract: The revenue procedure
prescribes the time and manner for
dealers in commodities and traders in
securities or commodities to elect to use
the mark-to-market method of
accounting under Sec. 475(e) or (f) of
the Internal Revenue Code. The
collections of information of this
revenue procedure are required by the
IRS in order to facilitate monitoring
taxpayers changing accounting methods
resulting from making the elections
under Sec. 475(e) or (f).
Current Actions: There are no changes
being made to this Rev. Proc. at this
time.
Type of Review: Extension of a
currently approved collection.
Affected Public: Business or other forprofit organizations.
Estimated Number of Respondents:
1,000.
Estimated Time per Respondent: 30
mins.
Estimated Total Annual Burden
Hours: 500.
The following paragraph applies to all
of 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. Comments
will be 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 has 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 the use of
automated collection techniques or
other forms of information technology;
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and (e) estimates of capital or start-up
costs and costs of operation,
maintenance, and purchase of services
to provide information.
Approved: August 26, 2021.
Chakinna B. Clemons,
Supervisory Tax Analyst.
[FR Doc. 2021–20021 Filed 9–15–21; 8:45 am]
BILLING CODE 4830–01–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
(IRS), 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 information
collections, as required by the
Paperwork Reduction Act of 1995. The
IRS is soliciting comments concerning
Bad Debt Reserves of Banks.
DATES: Written comments should be
received on or before November 15,
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 regulation should be
directed to LaNita Van Dyke, (202) 317–
6009, or 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: Bad Debt Reserves of Banks.
OMB Number: 1545–1290.
Regulation Project Number: TD 8513.
Abstract: Section 585(c) of the
Internal Revenue Code requires large
banks to change from reserve method of
accounting to the specific charge off
method of accounting for bad debts.
Section 1.585–8 of the regulation
contains reporting requirements in cases
in which large banks elect (1) to include
in income an amount greater than that
prescribed by the Code; (2) to use the
elective cut-off method of accounting; or
(3) to revoke any elections previously
made.
Current Actions: There is no change to
this existing regulation.
Type of Review: Extension of a
currently approved collection.
SUMMARY:
E:\FR\FM\16SEN1.SGM
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Federal Register / Vol. 86, No. 177 / Thursday, September 16, 2021 / Notices
Affected Public: Business or other forprofit organizations.
Estimated Number of Respondents:
2,500.
Estimated Time per Respondent: 15
min.
Estimated Total Annual Burden
Hours: 625.
The following paragraph applies to all
of 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: August 26, 2021.
Chakinna B. Clemons,
Supervisory Tax Analyst.
[FR Doc. 2021–20022 Filed 9–15–21; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Agency Information Collection
Activities; Proposed Collection;
Comment Request; Coronavirus State
and Local Fiscal Recovery Funds
Program
Departmental Offices, U.S.
Department of the Treasury.
ACTION: Notice.
AGENCY:
The Department of the
Treasury, as part of its continuing effort
to reduce paperwork and respondent
SUMMARY:
VerDate Sep<11>2014
16:44 Sep 15, 2021
Jkt 253001
burden, invites the general public and
other federal agencies to comment on
the proposed information collections
listed below, in accordance with the
Paperwork Reduction Act of 1995.
DATES: Written comments must be
received on or before November 15,
2021.
ADDRESSES: Send comments regarding
the burden estimate, or any other aspect
of the information collection, including
suggestions for reducing the burden, by
any of the following methods:
• Federal E-rulemaking Portal: https://
www.regulations.gov. Follow the
instructions for submitting comments.
Refer to Docket Number TREAS–DO–
2021–0015 and the specific Office of
Management and Budget (OMB) control
numbers 1505–0271.
• Mail: Treasury PRA Clearance
Officer, 1750 Pennsylvania Ave. NW,
Suite 8100, Washington, DC 20220.
FOR FURTHER INFORMATION CONTACT: For
questions related to these programs,
please contact Katherine Richards by
emailing SLFRP@treasury.gov, or calling
(844) 529–9527. Additionally, you can
view the information collection requests
at www.reginfo.gov.
SUPPLEMENTARY INFORMATION:
Title: Coronavirus State and Local
Fiscal Recovery Funds.
OMB Control Number: 1505–0271.
Type of Review: Extension of a
currently approved collection.
Description: Sections 602 and 603 of
the Social Security Act (the ‘‘Act’’), as
added by section 9901 of the American
Rescue Plan Act of 2021, Public Law
117–2 (Mar. 11, 2021) authorized the
Coronavirus State Fiscal Recovery Fund
(‘‘CSFRF’’) and Coronavirus Local Fiscal
Recovery Fund (‘‘CLFRF’’) respectively
(referred to as the ‘‘Coronavirus State
and Local Fiscal Recovery Funds’’ or
‘‘SLFRF’’). The Coronavirus State and
Local Fiscal Recovery Funds provide
$350 billion in total funding for the
Department of the Treasury
(‘‘Treasury’’) to make payments to States
(defined to include the District of
Columbia), U.S. Territories (defined to
include Puerto Rico, U.S. Virgin Islands,
Guam, Northern Mariana Islands, and
American Samoa), Tribes, Metropolitan
cities, Counties, Consolidated
Governments, and (through States) Nonentitlement units of local government
(collectively the ‘‘eligible entities’’) to
(1) respond to the COVID–19 public
health emergency or its negative
economic impacts, including providing
assistance to households, small
business, nonprofits, and impacted
industries, such as tourism, travel, and
hospitality; (2) respond to workers
performing essential work during the
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51727
COVID–19 pandemic by providing
premium pay to eligible workers of the
State, U.S. Territory, Tribal government,
Metropolitan city, County, or Nonentitlement units of local government
who are performing essential work or by
providing grants to eligible employers
that have eligible workers; (3) provide of
government services, to the extent
COVID–19 caused a reduction of
revenues collected in the most recent
full fiscal year of the State, U.S.
Territory, Tribal government,
Metropolitan city, County, or Nonentitlement units of local government;
or (4) make necessary investments in
water, sewer, or broadband
infrastructure.
Forms: Award and Payment Forms
and associated forms; Annual Recovery
Performance Plan and Distribution
Templates and reporting requirements.
Affected Public: State, Territorial,
Tribal, and certain Local Governments.
Estimated Number of Respondents:
44,000.
Frequency of Response: Once,
Monthly, Quarterly.
Estimated Total Number of Annual
Responses: 44,000.
Estimated Time per Response: 15
minutes to 1 hour for award and
payment forms, 5 hours to 100 hours for
performance plan, distribution
templates and reporting requirements.
Estimated Total Annual Burden
Hours: 220,000.
Request for Comments: Comments
submitted in response to this notice will
be summarized and included in the
request for Office of Management and
Budget 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 technology; and (e) estimates of
capital or start-up costs and costs of
operation, maintenance, and purchase
of services required to provide
information.
Authority: 44 U.S.C. 3501 et seq.
Dated: September 10, 2021.
Molly Stasko,
Treasury PRA Clearance Officer.
[FR Doc. 2021–19963 Filed 9–15–21; 8:45 am]
BILLING CODE 4810–AK–P
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]]>Agencies
[Federal Register Volume 86, Number 177 (Thursday, September 16, 2021)]
[Notices]
[Pages 51726-51727]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-20022]
-----------------------------------------------------------------------
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.
-----------------------------------------------------------------------
SUMMARY: The Internal Revenue Service (IRS), 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 information collections, as required by the Paperwork Reduction Act
of 1995. The IRS is soliciting comments concerning Bad Debt Reserves of
Banks.
DATES: Written comments should be received on or before November 15,
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 regulation should be directed to LaNita Van Dyke, (202)
317-6009, or at Internal Revenue Service, Room 6526, 1111 Constitution
Avenue NW, Washington, DC 20224, or through the internet at
[email protected].
SUPPLEMENTARY INFORMATION:
Title: Bad Debt Reserves of Banks.
OMB Number: 1545-1290.
Regulation Project Number: TD 8513.
Abstract: Section 585(c) of the Internal Revenue Code requires
large banks to change from reserve method of accounting to the specific
charge off method of accounting for bad debts. Section 1.585-8 of the
regulation contains reporting requirements in cases in which large
banks elect (1) to include in income an amount greater than that
prescribed by the Code; (2) to use the elective cut-off method of
accounting; or (3) to revoke any elections previously made.
Current Actions: There is no change to this existing regulation.
Type of Review: Extension of a currently approved collection.
[[Page 51727]]
Affected Public: Business or other for-profit organizations.
Estimated Number of Respondents: 2,500.
Estimated Time per Respondent: 15 min.
Estimated Total Annual Burden Hours: 625.
The following paragraph applies to all of 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: August 26, 2021.
Chakinna B. Clemons,
Supervisory Tax Analyst.
[FR Doc. 2021-20022 Filed 9-15-21; 8:45 am]
BILLING CODE 4830-01-P
