Agency Information Collection Activities; Proposed Collection; Comment Request; New Markets Tax Credit Program Community Development Entity (CDE) Certification Application, 15853-15854 [2023-05089]

Download as PDF Federal Register / Vol. 88, No. 49 / Tuesday, March 14, 2023 / Notices DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Extension of Information Collection Request Submitted for Public Comment; Comment Request for Form 1098 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 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 mortgage interest and reporting requirements for recipients of points paid on residential mortgages (Form 1098, Mortgage Interest Statement). DATES: Written comments should be received on or before May 15, 2023 to be assured of consideration. ADDRESSES: Direct all written comments to Andre´s Garcia, Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC 20224, or by email to pra.comments@irs.gov. Please include, ‘‘OMB Number: 1545– 1380—Public Comment Request Notice’’ in the Subject line. FOR FURTHER INFORMATION CONTACT: Requests for additional information or copies of the form and instructions should be directed to Ronald J. Durbala, at (202) 317–5746, at Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC 20224, or through the internet at RJoseph.Durbala@irs.gov. SUPPLEMENTARY INFORMATION: Title: Reporting Requirements for Recipients of Points Paid on Residential Mortgages and Mortgage Interest Statement. OMB Number: 1545–1380. Form Number: Form 1098. Regulation Project Number: TD 8191 as amended by TD 8507, TD 8571, TD 8734, and TD 9849. Abstract: Section 6050H provides that an information return must be made by any person who is engaged in a trade or business and who, during that trade or business, receives from any individual $600 or more of interest on any mortgage in a calendar year. Any person required to make an information return under section 6050H also must furnish a statement to the payor of record on or before January 31 of the year following ddrumheller on DSK120RN23PROD with NOTICES1 SUMMARY: VerDate Sep<11>2014 21:09 Mar 13, 2023 Jkt 259001 the calendar year in which the interest was received. Form 1098, Mortgage Interest Statement, is used to report mortgage interest (including points) received during the year. Current Actions: There is an increase in the estimated number of respondents previously approved by OMB. IRS has increased the number of respondents by 16,708,000 based on the projected number of filers from IRS Publication 6961. This update to the agency estimate has increased the burden by 4,187,000 hours. Type of Review: Revision of a currently approved collection. Affected Public: Business or other forprofit organizations. Estimated Number of Respondents: 97,358,960. Estimated Time per Respondent: 25 minutes. Estimated Total Annual Burden Hours: 24,318,656. 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. Desired Focus of Comments: The Internal Revenue Service (IRS) is particularly interested in comments that: • Evaluate whether the proposed collection of information is necessary for the proper performance of the functions of the agency, including whether the information will have practical utility. • Evaluate the accuracy of the agency’s estimate of the burden of the proposed collection of information, including the validity of the methodology and assumptions used. • Enhance the quality, utility, and clarity of the information to be collected; and • Minimize the burden of the collection of information on those who are to respond, including using appropriate automated, electronic, mechanical, or other technological collection techniques or other forms of information technology, e.g., by permitting electronic submissions of responses. Comments submitted in response to this notice will be summarized and/or PO 00000 Frm 00215 Fmt 4703 Sfmt 4703 15853 included in the ICR for OMB approval of the extension of the information collection; they will also become a matter of public record. Approved: March 9, 2023. Ronald J. Durbala, IRS Tax Analyst. [FR Doc. 2023–05182 Filed 3–13–23; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Agency Information Collection Activities; Proposed Collection; Comment Request; New Markets Tax Credit Program Community Development Entity (CDE) Certification Application Community Development Financial Institutions Fund, U.S. Department of the Treasury. ACTION: Notice and request for public comment. AGENCY: The Community Development Financial Institutions Fund (CDFI Fund), U.S. Department of the Treasury, is soliciting comments concerning the New Markets Tax Credit Program (NMTC Program) Community Development Entity (CDE) Certification Application as required by the Paperwork Reduction Act of 1995 (PRA). DATES: Written comments must be received on or before May 15, 2023 to be assured of consideration. ADDRESSES: Submit your comments via email to Michelle Dickens, Office of Certification, Policy and Evaluation (OCPE) Program Manager, CDFI Fund, at ccme@cdfi.treas.gov. FOR FURTHER INFORMATION CONTACT: Michelle Dickens, OCPE Program Manager, CDFI Fund, U.S. Department of the Treasury, 1500 Pennsylvania Avenue NW, Washington, DC 20220 or (202) 653–0335 (not a toll free number). Other information regarding the CDFI Fund and its programs may be obtained through the CDFI Fund’s website at https://www.cdfifund.gov. SUPPLEMENTARY INFORMATION: Title: New Markets Tax Credit Program Community Development Entity (CDE) Certification Application. OMB Control Number: 1559–0014. Abstract: Title I, subtitle C, section 121 of the Community Renewal Tax Relief Act of 2000 (the Act), as enacted in the Consolidated Appropriations Act, 2001 (Pub. L. 106–554, December 21, 2000), amended the Internal Revenue Code (IRC) by adding IRC 45D and created the NMTC Program. The Department of the Treasury, through the SUMMARY: E:\FR\FM\14MRN1.SGM 14MRN1 ddrumheller on DSK120RN23PROD with NOTICES1 15854 Federal Register / Vol. 88, No. 49 / Tuesday, March 14, 2023 / Notices CDFI Fund, administers the NMTC Program, which provides an incentive to investors in the form of tax credits over seven years, expected to stimulate the provision of private investment capital that, in turn, will facilitate economic and community development in lowincome communities. In order to qualify for an allocation of tax credits through the NMTC Program, an entity must be certified as a qualified CDE and submit an allocation application to the CDFI Fund. Nonprofit entities and for-profit entities may be certified as CDEs by the CDFI Fund. In order to be certified as a CDE, an entity must be a domestic corporation or partnership, that: (1) has a primary mission of serving or providing investment capital for lowincome communities or low-income persons; and (2) maintains accountability to residents of lowincome communities through their representation on any governing or advisory board of the entity. Current Actions: Renewal of existing information collection. Type of Review: Regular review. Affected Public: CDEs and entities seeking CDE certification, including business or other for-profit institutions, nonprofit entities, and State, local and Tribal entities. Estimated Number of Respondents: 300. Estimated Annual Time per Respondent: 4 hours. Estimated Total Annual Burden Hours: 1,200 hours. Requests 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 and may be published on the CDFI Fund website at https:// www.cdfifund.gov. Comments are invited on: (a) whether the collection of information is necessary for the proper performance of the functions of the CDFI Fund, including whether the information shall have practical utility; (b) the accuracy of the CDFI Fund’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 to provide information. VerDate Sep<11>2014 21:09 Mar 13, 2023 Jkt 259001 Authority: 44 U.S.C. 3501 et seq. Spencer W. Clark, Treasury PRA Clearance Officer. [FR Doc. 2023–05089 Filed 3–13–23; 8:45 am] BILLING CODE 4810–70–P DEPARTMENT OF THE TREASURY Agency Information Collection Activities; Submission for OMB Review; Comment Request; Return of Excise Taxes Related to Employee Benefit Plans and Application for Automatic Extension of Time To File an Exempt Organization Return Departmental Offices, U.S. Department of the Treasury. ACTION: Notice. 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 the Return of Excise Taxes Related to Employee Benefit Plans and Application for Automatic Extension of Time to File an Exempt Organization Return. DATES: Comments should be received on or before April 13, 2023 to be assured of consideration. ADDRESSES: Written comments and recommendations for the proposed information collection should be sent within 30 days of publication of this notice to www.reginfo.gov/public/do/ PRAMain. Find this particular information collection by selecting ‘‘Currently under 30-day Review—Open for Public Comments’’ or by using the search function. Copies of the submissions may be obtained from Melody Braswell by emailing PRA@ treasury.gov, calling (202) 622–1035, or viewing the entire information collection request at www.reginfo.gov. SUPPLEMENTARY INFORMATION: SUMMARY: Internal Revenue Service (IRS) Title: Return of Excise Taxes Related to Employee Benefit Plans and Application for Automatic Extension of Time to File an Exempt Organization Return. OMB Control Number: 1545–0575. Form Number: 5330 and 8868. Abstract: Internal Revenue Code sections 4965, 4971, 4972, 4973(a)(3), 4975, 4976, 4977, 4978, 4979, 4979A, 4980 and 4980F impose various excise taxes in connection with employee benefit plans. Form 5330 is used to compute and collect these taxes. PO 00000 Frm 00216 Fmt 4703 Sfmt 4703 Current Actions: The Form 8868 will be revised to allow extensions for Form 5330—Return of Excise Taxes Related to Employee Benefit Plans. Form 8868 will only allow for the extension to file, and will not extend the payment of the excise tax. The Form 8868 burden attributed to pension plans will be captured under OMB Control Number 1545–0575. Type of Review: Revision of a currently approved collection. Affected Public: Business or other for profit organizations, individuals and households, not-for profit institutions, and farms. Estimated Number of Respondents: 26,460. Estimated Number of Responses per Respondent: 1. Estimated Number of Annual Responses: 26,460. Estimated Total Annual Burden Hours: 1,255,149. Authority: 44 U.S.C. 3501 et seq. Melody Braswell, Treasury PRA Clearance Officer. [FR Doc. 2023–05115 Filed 3–13–23; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Open Meeting of the Federal Advisory Committee on Insurance Departmental Offices, U.S. Department of the Treasury. ACTION: Notice of open meeting. AGENCY: This notice announces that the U.S. Department of the Treasury’s Federal Advisory Committee on Insurance (FACI) will meet in the Cash Room at the U.S. Department of the Treasury, 1500 Pennsylvania Ave. NW, Washington, DC, and also via videoconference on Wednesday, March 29, 2023, from 1:30 p.m.–4:30 p.m. Eastern Time. The meeting is open to the public. The FACI provides nonbinding recommendation and advice to the Federal Insurance Office (FIO) in the U.S. Department of the Treasury. DATES: The meeting will be held in the Cash Room at the U.S. Department of the Treasury, 1500 Pennsylvania Ave. NW, Washington, DC, and also via videoconference on Wednesday, March 29, 2023, from 1:30 p.m.–4:30 p.m. Eastern Time. Attendance: The meeting will be held in the Cash Room, Department of the Treasury, 1500 Pennsylvania Ave. NW, Washington, DC 20220 and via videoconference. The meeting is open to the public, and the site is accessible to individuals with disabilities. SUMMARY: E:\FR\FM\14MRN1.SGM 14MRN1

Agencies

[Federal Register Volume 88, Number 49 (Tuesday, March 14, 2023)]
[Notices]
[Pages 15853-15854]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-05089]


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DEPARTMENT OF THE TREASURY


Agency Information Collection Activities; Proposed Collection; 
Comment Request; New Markets Tax Credit Program Community Development 
Entity (CDE) Certification Application

AGENCY: Community Development Financial Institutions Fund, U.S. 
Department of the Treasury.

ACTION: Notice and request for public comment.

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

SUMMARY: The Community Development Financial Institutions Fund (CDFI 
Fund), U.S. Department of the Treasury, is soliciting comments 
concerning the New Markets Tax Credit Program (NMTC Program) Community 
Development Entity (CDE) Certification Application as required by the 
Paperwork Reduction Act of 1995 (PRA).

DATES: Written comments must be received on or before May 15, 2023 to 
be assured of consideration.

ADDRESSES: Submit your comments via email to Michelle Dickens, Office 
of Certification, Policy and Evaluation (OCPE) Program Manager, CDFI 
Fund, at [email protected].

FOR FURTHER INFORMATION CONTACT: Michelle Dickens, OCPE Program 
Manager, CDFI Fund, U.S. Department of the Treasury, 1500 Pennsylvania 
Avenue NW, Washington, DC 20220 or (202) 653-0335 (not a toll free 
number). Other information regarding the CDFI Fund and its programs may 
be obtained through the CDFI Fund's website at https://www.cdfifund.gov.

SUPPLEMENTARY INFORMATION: 
    Title: New Markets Tax Credit Program Community Development Entity 
(CDE) Certification Application.
    OMB Control Number: 1559-0014.
    Abstract: Title I, subtitle C, section 121 of the Community Renewal 
Tax Relief Act of 2000 (the Act), as enacted in the Consolidated 
Appropriations Act, 2001 (Pub. L. 106-554, December 21, 2000), amended 
the Internal Revenue Code (IRC) by adding IRC 45D and created the NMTC 
Program. The Department of the Treasury, through the

[[Page 15854]]

CDFI Fund, administers the NMTC Program, which provides an incentive to 
investors in the form of tax credits over seven years, expected to 
stimulate the provision of private investment capital that, in turn, 
will facilitate economic and community development in low-income 
communities. In order to qualify for an allocation of tax credits 
through the NMTC Program, an entity must be certified as a qualified 
CDE and submit an allocation application to the CDFI Fund. Nonprofit 
entities and for-profit entities may be certified as CDEs by the CDFI 
Fund. In order to be certified as a CDE, an entity must be a domestic 
corporation or partnership, that: (1) has a primary mission of serving 
or providing investment capital for low-income communities or low-
income persons; and (2) maintains accountability to residents of low-
income communities through their representation on any governing or 
advisory board of the entity.
    Current Actions: Renewal of existing information collection.
    Type of Review: Regular review.
    Affected Public: CDEs and entities seeking CDE certification, 
including business or other for-profit institutions, nonprofit 
entities, and State, local and Tribal entities.
    Estimated Number of Respondents: 300.
    Estimated Annual Time per Respondent: 4 hours.
    Estimated Total Annual Burden Hours: 1,200 hours.
    Requests 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 and may be 
published on the CDFI Fund website at https://www.cdfifund.gov. Comments 
are invited on: (a) whether the collection of information is necessary 
for the proper performance of the functions of the CDFI Fund, including 
whether the information shall have practical utility; (b) the accuracy 
of the CDFI Fund'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 to provide 
information.
    Authority: 44 U.S.C. 3501 et seq.

Spencer W. Clark,
Treasury PRA Clearance Officer.
[FR Doc. 2023-05089 Filed 3-13-23; 8:45 am]
BILLING CODE 4810-70-P
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