Proposed Collection; Comment Request for Regulation Project, 62602-62603 [2021-24521]
Download as PDF
<![CDATA[
62602
Federal Register / Vol. 86, No. 215 / Wednesday, November 10, 2021 / Notices
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 4, 2021.
Sara L. Covington,
IRS Tax Analyst.
[FR Doc. 2021–24548 Filed 11–9–21; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment
Request for Form 8892
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 proposed
and/or continuing information
collections, as required by the
Paperwork Reduction Act of 1995. The
IRS is soliciting comments concerning
Form 8892, Application for Automatic
Extension of Time to File Form 709 and/
or Payment of Gift/Generation-Skipping
Transfer Tax.
DATES: Written comments should be
received on or before January 10, 2022
to be assured of consideration.
ADDRESSES: Direct all written comments
to Andres Garcia, 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 and instructions
should be directed to Sara Covington at
Internal Revenue Service, Room 6526,
1111 Constitution Avenue NW,
Washington, DC 20224, or at (737) 800–
6149 or through the internet, at
sara.l.covington@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Application for Automatic
Extension of Time to File Form 709 and/
or Payment of Gift/Generation-Skipping
Transfer Tax.
OMB Number: 1545–1913.
Form Number: Form 8892.
Abstract: Form 8892 was created to
serve a dual purpose. First, the form
enables the taxpayers to request an
automatic 6-month extension of time to
file Form 709 when they are not filing
an individual income tax extension
khammond on DSKJM1Z7X2PROD with NOTICES
SUMMARY:
VerDate Sep<11>2014
16:41 Nov 09, 2021
Jkt 256001
using Form 4868. Second, to make a
payment of gift tax when you’re
applying for an extension of time to file
Form 709 (including payment of any
generation-skipping transfer (GST) tax
from Form 709).
Current Actions: There are no changes
being made to the form at this time.
Type of Review: Extension of a
currently approved collection.
Affected Public: Individuals or
households.
Estimated Number of Respondents:
21.
Estimated Time per Respondent: 43
minutes.
Estimated Total Annual Burden
Hours: 16.
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: November 4, 2021.
Sara L. Covington,
IRS Tax Analyst.
[FR Doc. 2021–24520 Filed 11–9–21; 8:45 am]
BILLING CODE 4830–01–P
PO 00000
Frm 00095
Fmt 4703
Sfmt 4703
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 proposed
and/or continuing information
collections, as required by the
Paperwork Reduction Act of 1995. The
IRS is soliciting comments concerning
safe harbor for valuation and mark to
market accounting method for dealers
under section 475.
DATES: Written comments should be
received on or before January 10, 2022
to be assured of consideration.
ADDRESSES: Direct all written comments
to Andres Garcia, Internal Revenue
Service, room 6526, 1111 Constitution
Avenue NW, Washington, DC 20224.
FOR FURTHER INFORMATION CONTACT:
Requests for additional information or
copies of the regulations should be
directed to Sara Covington, at Internal
Revenue Service, Room 6526, 1111
Constitution Avenue NW, Washington,
DC 20224, or (737) 800–6149 or, through
the internet at sara.l.covington@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Safe Harbor for Valuation and
Mark to Market Accounting Method for
Dealers Under Section 475.
OMB Number: 1545–1945.
Regulation Project Number: TD 9328
and TD 8700.
Abstract: These documents set forth
an elective safe harbor that permits
dealers in securities and dealers in
commodities to elect to use the values
of positions reported on certain
financial statements as the fair market
values of those positions for purposes of
section 475 of the Internal Revenue
Code (Code). This safe harbor is
intended to reduce the compliance
burden on taxpayers and to improve the
administrability of the valuation
requirement of section 475 for the IRS.
TD 8700 contains final regulations
providing guidance to enable taxpayers
to comply with the mark-to-market
requirements applicable to dealers in
securities.
Current Actions: There is no change to
these existing regulations.
Type of Review: Extension of
currently approved collection.
SUMMARY:
E:\FR\FM\10NON1.SGM
10NON1
Federal Register / Vol. 86, No. 215 / Wednesday, November 10, 2021 / Notices
khammond on DSKJM1Z7X2PROD with NOTICES
Affected Public: Business or other forprofit organizations.
Estimated Number of Respondents:
15,708.
Estimated Average Time per
Respondent: 3 hours, 19 minutes.
Estimated Total Annual Burden
Hours: 52,182.
The following paragraph applies to all
the collections of information covered
by this notice.
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.
VerDate Sep<11>2014
16:41 Nov 09, 2021
Jkt 256001
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;
PO 00000
Frm 00096
Fmt 4703
Sfmt 9990
62603
(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 collectionof
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 4, 2021.
Sara L. Covington,
IRS Tax Analyst.
[FR Doc. 2021–24521 Filed 11–9–21; 8:45 am]
BILLING CODE 4830–01–P
E:\FR\FM\10NON1.SGM
10NON1
]]>Agencies
[Federal Register Volume 86, Number 215 (Wednesday, November 10, 2021)]
[Notices]
[Pages 62602-62603]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-24521]
-----------------------------------------------------------------------
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, 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
proposed and/or continuing information collections, as required by the
Paperwork Reduction Act of 1995. The IRS is soliciting comments
concerning safe harbor for valuation and mark to market accounting
method for dealers under section 475.
DATES: Written comments should be received on or before January 10,
2022 to be assured of consideration.
ADDRESSES: Direct all written comments to Andres Garcia, Internal
Revenue Service, room 6526, 1111 Constitution Avenue NW, Washington, DC
20224.
FOR FURTHER INFORMATION CONTACT: Requests for additional information or
copies of the regulations should be directed to Sara Covington, at
Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW,
Washington, DC 20224, or (737) 800-6149 or, through the internet at
[email protected].
SUPPLEMENTARY INFORMATION:
Title: Safe Harbor for Valuation and Mark to Market Accounting
Method for Dealers Under Section 475.
OMB Number: 1545-1945.
Regulation Project Number: TD 9328 and TD 8700.
Abstract: These documents set forth an elective safe harbor that
permits dealers in securities and dealers in commodities to elect to
use the values of positions reported on certain financial statements as
the fair market values of those positions for purposes of section 475
of the Internal Revenue Code (Code). This safe harbor is intended to
reduce the compliance burden on taxpayers and to improve the
administrability of the valuation requirement of section 475 for the
IRS. TD 8700 contains final regulations providing guidance to enable
taxpayers to comply with the mark-to-market requirements applicable to
dealers in securities.
Current Actions: There is no change to these existing regulations.
Type of Review: Extension of currently approved collection.
[[Page 62603]]
Affected Public: Business or other for-profit organizations.
Estimated Number of Respondents: 15,708.
Estimated Average Time per Respondent: 3 hours, 19 minutes.
Estimated Total Annual Burden Hours: 52,182.
The following paragraph applies to all the collections of
information covered by this notice.
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 collectionof
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 4, 2021.
Sara L. Covington,
IRS Tax Analyst.
[FR Doc. 2021-24521 Filed 11-9-21; 8:45 am]
BILLING CODE 4830-01-P
