Proposed Collection; Requesting comments on Enhanced Oil Recovery Credit, 12548-12549 [2022-04547]

Download as PDF 12548 Federal Register / Vol. 87, No. 43 / Friday, March 4, 2022 / Notices therefore not a basis to not carry out a recall. VII. NHTSA’s Decision In consideration of the foregoing, NHTSA has decided that GM has not met its burden of persuasion that the subject FMVSS No. 108 noncompliance is inconsequential to motor vehicle safety. Accordingly, GM’s petition is hereby denied, and GM is consequently obligated to provide notification of and free remedy for that noncompliance under 49 U.S.C. 30118 and 30120. (Authority: 49 U.S.C. 30118, 30120: Delegations of authority at 49 CFR 1.95 and 501.8) Anne L. Collins, Associate Administrator for Enforcement. [FR Doc. 2022–04540 Filed 3–3–22; 8:45 am] BILLING CODE 4910–59–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Passive Activity Credit Limitations 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 reporting requirements for passive activity credit limitations. DATES: Written comments should be received on or before May 3, 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, or by email to omb.unit@irs.gov. Include OMB control number 1545–1034 or Passive Activity Credit Limitations in the subject line of the message. FOR FURTHER INFORMATION CONTACT: Requests for additional information or copies of the form should be directed to Kerry Dennis at (202) 317–5751, or at Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC 20224, or through the internet, at Kerry.L.Dennis@irs.gov. SUPPLEMENTARY INFORMATION: lotter on DSK11XQN23PROD with NOTICES1 SUMMARY: VerDate Sep<11>2014 17:05 Mar 03, 2022 Jkt 256001 Title: Passive Activity Credit Limitations. OMB Number: 1545–1034. Form Number: 8582–CR. Abstract: Under Internal Revenue Code section 469, credits from passive activities, to the extent they do not exceed the tax attributable to net passive income, are not allowed, Form 8582–CR is used to figure the passive activity credit allowed and the amount of credit to be reported on the tax return. Current Actions: There is no change to the regulation or burden at this time. Type of Review: Extension of a currently approved collection. Affected Public: Individuals or households, business or other for-profit organizations, and farms. Estimated Number of Respondents: 300,000. Estimated Time per Respondent: 7 hours, 53 minutes. Estimated Total Annual Burden Hours: 2,370,600 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 technology; and (e) estimates of capital or start-up costs and costs of operation, maintenance, and purchase of services to provide information. Approved: March 1, 2022. Kerry L. Dennis, Tax Analyst. [FR Doc. 2022–04630 Filed 3–3–22; 8:45 am] BILLING CODE 4830–01–P PO 00000 Frm 00126 Fmt 4703 Sfmt 4703 DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Requesting comments on Enhanced Oil Recovery Credit Internal Revenue Service (IRS), Treasury. ACTION: Notice and request for comments. AGENCY: The Department of the Treasury, 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. Currently, the IRS is soliciting comments concerning enhanced oil recovery credit. DATES: Written comments should be received on or before May 3, 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, or by email to omb.unit@irs.gov. Include OMB Number 1545–1292 or Enhanced Oil Recovery Credit in the subject line of the message. FOR FURTHER INFORMATION CONTACT: Requests for additional information or copies of this collection should be directed to LaNita Van Dyke, at (202) 317–6009, 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: Enhanced Oil Recovery Credit. OMB Number: 1545–1292. Form Number: 8830. Abstract: This regulation provides guidance concerning the costs subject to the enhanced oil recovery credit, the circumstances under which the credit is available, and procedures for certifying to the Internal Revenue Service that a project meets the requirements of section 43(c) of the Internal Revenue Code. Current Actions: There are no changes being made to the regulations, at this time. Form 8830 was not issued for 2019–2020 because the section 43 credit was completely phased out and the form was not needed due to the continued high price of crude oil; however, it will apply again for tax years beginning in 2021. The changes made to Form 8830, reflect Notice 2021–47. This will increase the number of responses by SUMMARY: E:\FR\FM\04MRN1.SGM 04MRN1 Federal Register / Vol. 87, No. 43 / Friday, March 4, 2022 / Notices 1,550 and annual burden by 11,067 hours. Type of Review: Revision of a currently approved collection. Affected Public: Individuals or households, and business or other forprofit organizations. Estimated Number of Respondents: 1,590. Estimated Time per Respondent: 7.87 hours. Estimated Total Annual Burden Hours: 12,527. 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: February 28, 2022. Andres Garcia Leon, Supervisory Tax Analyst. [FR Doc. 2022–04547 Filed 3–3–22; 8:45 am] BILLING CODE 4830–01–P lotter on DSK11XQN23PROD with NOTICES1 DEPARTMENT OF THE TREASURY Treasury Advisory Committee on Racial Equity Department of the Treasury. Notice of establishment of the Treasury Advisory Committee on Racial Equity. AGENCY: ACTION: VerDate Sep<11>2014 17:05 Mar 03, 2022 Jkt 256001 The Treasury Department has determined that it is in the public interest to establish the Treasury Advisory Committee on Racial Equity. A Charter for the Committee has been prepared and will be filed no earlier than 15 days following the date of publication of this notice. FOR FURTHER INFORMATION CONTACT: Janis Bowdler, Counselor for Racial Equity, Department of the Treasury, (202) 622–3002, Equity@Treasury.gov. SUPPLEMENTARY INFORMATION: Pursuant to the Federal Advisory Committee Act (FACA) (5 U.S.C. App., as amended), the Department of the Treasury (‘‘Department’’) intends to establish the Treasury Advisory Committee on Racial Equity (‘‘Committee’’). The Department has determined that establishing this committee is necessary and in the public interest in order to carry out the provisions of Executive Order 13985, Advancing Racial Equity and Support for Underserved Communities Throughout the Federal Government. SUMMARY: Objectives and Duties The purpose of the Committee is to provide advice and recommendations to the Department of the Treasury to assist the Offices of the Secretary and Deputy Secretary in carrying out their duties and authorities towards advancing racial equity and addressing acute disparities for communities of color who have been historically underserved, marginalized, and adversely affected by persistent poverty and inequality. The Committee shall be a continuing advisory committee with an initial twoyear term, subject to two-year reauthorizations at the discretion of the Secretary of the Treasury. The Committee will provide an opportunity for experts to offer their advice and recommendations to the Office of the Secretary on a regular basis on aspects of the domestic economy that have directly and indirectly resulted in unfavorable conditions for Black, Latino, and Indigenous and Native American persons, Asian Americans and Pacific Islanders and other persons of color. Topics to be addressed by the Committee may include, but are not limited to, financial inclusion, capital access, housing stability, federal government supplier diversity and economic development. The duties of the Committee shall be solely advisory and shall extend only to the submission of advice and recommendations to the Offices of the Secretary and Deputy Secretary, which shall be non-binding to the Department. No determination of fact or policy shall be made by the Committee. PO 00000 Frm 00127 Fmt 4703 Sfmt 4703 12549 Membership In order to achieve a fairly balanced membership, the Committee shall include representatives from a wide range of views, such as the Federal government, financial services industry, state regulatory authorities, consumer or public advocacy organizations, community-based groups, academia, philanthropic organizations, as well as others focused on the advancement of equity priorities within the United States. Membership balance will not be static and may change, depending on the work of the Committee. The number of Committee members shall not exceed twenty-five. The Committee shall meet at such intervals as are necessary to carry out its duties. It is estimated that the Committee will generally meet four times per year, virtually or in person. Generally, Committee meetings are open to the public. Nominations for membership will be solicited in a subsequent notice in the Federal Register. Janis Bowdler, Counselor for Racial Equity. [FR Doc. 2022–04539 Filed 3–3–22; 8:45 am] BILLING CODE 4810–AK–P DEPARTMENT OF VETERANS AFFAIRS Evidence and Notification Delays Department of Veterans Affairs. Notice of extension of timeframes for notification letters. AGENCY: ACTION: The Veterans Benefits Administration (VBA) received notice that the vendor contracted to provide printing services to the Department of Veterans Affairs (VA) experienced staffing and equipment issues that resulted in a significant delay in the printing and mailing of benefit letters. To protect the interests of Veterans and other claimants affected by this delay, VBA is instituting temporary guidance extending a grace period on responses to time-sensitive letter notifications. FOR FURTHER INFORMATION CONTACT: Raymond Tellez, Executive Director, Office of Business Integration, Department of Veterans Affairs, 810 Vermont Avenue NW, Washington, DC 20420, 202–461–9367. (This is not a toll-free number.) SUPPLEMENTARY INFORMATION: On August 12, 2021, the Office of Information and Technology informed VBA that the vendor, contracted to provide printing services to VA by the Government Publishing Office (GPO), experienced SUMMARY: E:\FR\FM\04MRN1.SGM 04MRN1

Agencies

[Federal Register Volume 87, Number 43 (Friday, March 4, 2022)]
[Notices]
[Pages 12548-12549]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-04547]


-----------------------------------------------------------------------

DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Requesting comments on Enhanced Oil Recovery 
Credit

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

-----------------------------------------------------------------------

SUMMARY: The Department of the Treasury, 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. Currently, the IRS is soliciting 
comments concerning enhanced oil recovery credit.

DATES: Written comments should be received on or before May 3, 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, or by email to [email protected]. Include OMB Number 1545-1292 or 
Enhanced Oil Recovery Credit in the subject line of the message.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of this collection should be directed to LaNita Van Dyke, at 
(202) 317-6009, at Internal Revenue Service, Room 6526, 1111 
Constitution Avenue NW, Washington, DC 20224, or through the internet 
at [email protected].

SUPPLEMENTARY INFORMATION: 
    Title: Enhanced Oil Recovery Credit.
    OMB Number: 1545-1292.
    Form Number: 8830.
    Abstract: This regulation provides guidance concerning the costs 
subject to the enhanced oil recovery credit, the circumstances under 
which the credit is available, and procedures for certifying to the 
Internal Revenue Service that a project meets the requirements of 
section 43(c) of the Internal Revenue Code.
    Current Actions: There are no changes being made to the 
regulations, at this time. Form 8830 was not issued for 2019-2020 
because the section 43 credit was completely phased out and the form 
was not needed due to the continued high price of crude oil; however, 
it will apply again for tax years beginning in 2021. The changes made 
to Form 8830, reflect Notice 2021-47. This will increase the number of 
responses by

[[Page 12549]]

1,550 and annual burden by 11,067 hours.
    Type of Review: Revision of a currently approved collection.
    Affected Public: Individuals or households, and business or other 
for-profit organizations.
    Estimated Number of Respondents: 1,590.
    Estimated Time per Respondent: 7.87 hours.
    Estimated Total Annual Burden Hours: 12,527.
    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: February 28, 2022.
Andres Garcia Leon,
Supervisory Tax Analyst.
[FR Doc. 2022-04547 Filed 3-3-22; 8:45 am]
BILLING CODE 4830-01-P

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