Proposed Collection; Comment Request Relating to Product Liability Losses and Accumulations for Product Liability Losses, 16086 [2024-04677]

Download as PDF 16086 Federal Register / Vol. 89, No. 45 / Wednesday, March 6, 2024 / Notices Committee will provide advice and recommendations to inform the Department’s efforts to: Implement the Agency’s Equity Action Plan and Strategic Plan, helping to institutionalize equity into Agency programs, policies, regulations, and activities; Strengthen and establish partnerships with overburdened and underserved communities who have been historically underrepresented in the Department’s outreach and engagement, including those in rural and urban areas; Empower communities to have a meaningful voice in local and regional transportation decisions; and Ensure the compliance of Federal funding recipients with civil rights laws and nondiscrimination programs, policies, regulations, and activities. ddrumheller on DSK120RN23PROD with NOTICES1 Meeting Agenda The agenda for the meeting will consist of: Welcome and Introductions History of ACTE Scope of the Interventions Subcommittee Review of existing recommendations Public engagement open discussion Next steps and closing remarks Meeting Participation Advance registration is required. Please register at https:// usdot.zoomgov.com/webinar/register/ WN_VJdU3tfxRqeD-FC4KEkPEw by the deadline referenced in the DATES section. The meeting will be open to the public for its entirety. The U.S. Department of Transportation is committed to providing equal access to this meeting for all participants. If you need alternative formats or services because of a disability, such as sign language, interpretation, or other ancillary aids, please contact the point of contact listed in the FOR FURTHER INFORMATION CONTACT section. Questions from the public will be answered during the public comment period only at the discretion of the ACTE Wealth Creation subcommittee co-chairs and designated Federal officer. Members of the public may submit written comments and questions to the point of contact listed in the FOR FURTHER INFORMATION CONTACT section on the topics to be considered during the meeting by the deadline referenced in the DATES section. Dated: February 29, 2024. Irene Marion, Director, Departmental Office of Civil Rights. [FR Doc. 2024–04687 Filed 3–5–24; 8:45 am] BILLING CODE 4910–9X–P VerDate Sep<11>2014 16:57 Mar 05, 2024 Jkt 262001 Current Actions: There is no change to this existing regulation or to the Internal Revenue Service paperwork burden previously approved by OMB. Proposed Collection; Comment Type of Review: Extension of a Request Relating to Product Liability Losses and Accumulations for Product currently approved collection. Liability Losses Affected Public: Business or other forprofit organizations. AGENCY: Internal Revenue Service (IRS), Estimated Number of Respondents: Treasury. 5,000. ACTION: Notice and request for comments. Estimated Time per Respondent: 30 minutes. SUMMARY: The Internal Revenue Service, Estimated Total Annual Burden as part of its continuing effort to reduce Hours: 2,500. paperwork and respondent burden, invites the general public and other The following paragraph applies to all Federal agencies to take this of the collections of information covered opportunity to comment on continuing by this notice. information collections, as required by An agency may not conduct or the Paperwork Reduction Act of 1995. sponsor, and a person is not required to The IRS is soliciting comments concerning Product Liability Losses and respond to, a collection of information unless the collection of information Accumulations for Product Liability displays a valid OMB control number. Losses. Books or records relating to a collection DATES: Written comments should be of information must be retained as long received on or before May 6, 2024 to be as their contents may become material assured of consideration. in the administration of any internal ADDRESSES: Direct all written comments revenue law. Generally, tax returns and to Andres Garcia, Internal Revenue tax return information are confidential, Service, Room 6526, 1111 Constitution as required by 26 U.S.C. 6103. Avenue NW, Washington, DC 20224, or Request for Comments: Comments by email to pra.comments@irs.gov. submitted in response to this notice will Please include OMB Number 1545–0863 be summarized and/or included in the or TD 8096 in the subject line of the request for OMB approval. All message. comments will become a matter of FOR FURTHER INFORMATION CONTACT: public record. Comments are invited on: Requests for additional information or (a) whether the collection of information copies of the should be directed to Sara Covington, at (202) 317–5744 or Internal is necessary for the proper performance of the functions of the agency, including Revenue Service, Room 6526, 1111 whether the information shall have Constitution Avenue NW, Washington, practical utility; (b) the accuracy of the DC 20224, or through the internet, at agency’s estimate of the burden of the Sara.L.Covington@irs.gov. collection of information; (c) ways to SUPPLEMENTARY INFORMATION: enhance the quality, utility, and clarity Title: Product Liability Losses and of the information to be collected; (d) Accumulations for Product Liability ways to minimize the burden of the Losses. collection of information on OMB Number: 1545–0863. Regulation Project Number: T.D. 8096. respondents, including through the use of automated collection techniques or Abstract: T.D. 8096 provides final other forms of information technology; regulations relating to product liability losses and accumulations for the and (e) estimates of capital or start-up payment of reasonable anticipated costs and costs of operation, product liability losses. Changes to the maintenance, and purchase of services applicable tax law were made by the to provide information. Revenue Act of 1978. Generally, a Approved: February 29, 2024. taxpayer who sustains a product Sara L. Covington, liability loss must carry the loss back 10 IRS Tax Analyst. years. However, a taxpayer may elect to [FR Doc. 2024–04677 Filed 3–5–24; 8:45 am] have such loss treated as a regular net operating loss under section 172. If BILLING CODE 4830–01–P desired, such election is made by attaching a statement to the tax return. This statement will enable the IRS to monitor compliance with the statutory requirements. DEPARTMENT OF THE TREASURY PO 00000 Frm 00118 Fmt 4703 Sfmt 9990 E:\FR\FM\06MRN1.SGM 06MRN1

Agencies

[Federal Register Volume 89, Number 45 (Wednesday, March 6, 2024)]
[Notices]
[Page 16086]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-04677]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request Relating to Product 
Liability Losses and Accumulations for Product Liability Losses

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

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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. The IRS is soliciting comments concerning 
Product Liability Losses and Accumulations for Product Liability 
Losses.

DATES: Written comments should be received on or before May 6, 2024 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]. Please include OMB Number 
1545-0863 or TD 8096 in the subject line of the message.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the should be directed to Sara Covington, at (202) 317-5744 
or Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW, 
Washington, DC 20224, or through the internet, at 
[email protected].

SUPPLEMENTARY INFORMATION: 
    Title: Product Liability Losses and Accumulations for Product 
Liability Losses.
    OMB Number: 1545-0863.
    Regulation Project Number: T.D. 8096.
    Abstract: T.D. 8096 provides final regulations relating to product 
liability losses and accumulations for the payment of reasonable 
anticipated product liability losses. Changes to the applicable tax law 
were made by the Revenue Act of 1978. Generally, a taxpayer who 
sustains a product liability loss must carry the loss back 10 years. 
However, a taxpayer may elect to have such loss treated as a regular 
net operating loss under section 172. If desired, such election is made 
by attaching a statement to the tax return. This statement will enable 
the IRS to monitor compliance with the statutory requirements.
    Current Actions: There is no change to this existing regulation or 
to the paperwork burden previously approved by OMB.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents: 5,000.
    Estimated Time per Respondent: 30 minutes.
    Estimated Total Annual Burden Hours: 2,500.
    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. 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 29, 2024.
Sara L. Covington,
IRS Tax Analyst.
[FR Doc. 2024-04677 Filed 3-5-24; 8:45 am]
BILLING CODE 4830-01-P

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