Proposed Collection; Comment Request for Form 1099-C and TD 9793, 19015 [2024-05466]
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Federal Register / Vol. 89, No. 52 / Friday, March 15, 2024 / Notices
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 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 8, 2024.
Martha R. Brinson,
Tax Analyst.
[FR Doc. 2024–05467 Filed 3–14–24; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment
Request for Form 1099–C and TD 9793
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,
cancellation of debt and removal of the
36-month non-payment testing period
rule.
DATES: Written comments should be
received on or before May 14, 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 pra.comments@irs.gov.
Include ‘‘OMB Number 1545–1424—
Cancellation of Debt’’ in the subject line
of the message.
FOR FURTHER INFORMATION CONTACT:
Requests for additional information or
copies of this collection should be
directed to Martha R. Brinson, at (202)
317–5753, or at Internal Revenue
Service, Room 6526, 1111 Constitution
Avenue NW, Washington, DC 20224, or
through the internet at
Martha.R.Brinson@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Cancellation of Debt.
khammond on DSKJM1Z7X2PROD with NOTICES
SUMMARY:
VerDate Sep<11>2014
18:17 Mar 14, 2024
Jkt 262001
OMB Number: 1545–1424.
Form Number: 1099–C.
Regulation Project Number: TD 9793.
Abstract: This form is used by Federal
Government agencies, financial
institutions, and credit unions to report
the cancellation or forgiveness of a debt
of $600 or more, as required by section
6050P of the Internal Revenue Code.
The IRS uses the form to verify
compliance with the reporting rules and
to verify that the debtor has included
the proper amount of canceled debt in
income on his or her income tax return.
TD 9793
Abstract: These regulations under
section 6050P of the Internal Revenue
Code (Code), relating to the rule in
§ 1.6050P–1(b)(2)(iv) that the 36-month
non-payment testing period is an
identifiable event triggering an
information reporting obligation on
Form 1099–C for discharge of
indebtedness by certain entities.
Current Actions: There are no changes
being made to the form or regulation at
this time.
Type of Review: Extension of a
currently approved collection.
Affected Public: Business or other forprofit organizations, not-for-profit
institutions, and the Federal
Government.
Estimated Number of Responses:
6,540,900.
Estimated Time per Response: 13
minutes.
Estimated Total Annual Burden
Hours: 1,438,998.
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
PO 00000
Frm 00128
Fmt 4703
Sfmt 4703
19015
collected; (d) ways to minimize the
burden of the collection of information
on 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 8, 2024.
Martha R. Brinson,
Tax Analyst.
[FR Doc. 2024–05466 Filed 3–14–24; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Privacy Act of 1974; System of
Records
Departmental Offices,
Department of the Treasury.
ACTION: Notice of a modified system of
records.
AGENCY:
In accordance with the
Privacy Act of 1974, the Department of
the Treasury (‘‘Treasury’’ or the
‘‘Department’’), Departmental Offices
proposes to modify a current Treasury
system of records titled, ‘‘Department of
the Treasury, Departmental Offices
.190—Office of Inspector General
Investigations Management Information
System.’’ This system’s name is being
amended to the ‘‘Department of the
Treasury, Departmental Offices .190—
Office of Inspector General Electronic
Case Management System,’’ yet it will
still maintain the same records and
collected information that provides
essential support for activities of the
Treasury Office of Inspector General
(OIG) relating to Treasury programs,
operations, employees, contractors and
other individuals or entities associated
with the Department. Additionally, the
Department proposes to amend this
system of records by modifying one
existing routine use, adding four new
routine uses, and making technical
changes and corrections.
DATES: Submit comments on or before
April 15, 2024. The modification of the
system of records notice will be
applicable on April 15, 2024.
ADDRESSES: Written comments on this
notice may be submitted electronically
through the Federal government
eRulemaking portal at https://
www.regulations.gov. Electronic
submission of comments allows the
commenter maximum time to prepare
and submit a comment, ensures timely
receipt, and enables the Treasury to
make the comments available to the
public. Please note that comments
submitted through https://
www.regulations.gov will be public and
SUMMARY:
E:\FR\FM\15MRN1.SGM
15MRN1
]]>Agencies
[Federal Register Volume 89, Number 52 (Friday, March 15, 2024)]
[Notices]
[Page 19015]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-05466]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment Request for Form 1099-C and TD 9793
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, cancellation of
debt and removal of the 36-month non-payment testing period rule.
DATES: Written comments should be received on or before May 14, 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]. Include ``OMB Number 1545-
1424--Cancellation of Debt'' in the subject line of the message.
FOR FURTHER INFORMATION CONTACT: Requests for additional information or
copies of this collection should be directed to Martha R. Brinson, at
(202) 317-5753, or at Internal Revenue Service, Room 6526, 1111
Constitution Avenue NW, Washington, DC 20224, or through the internet
at [email protected].
SUPPLEMENTARY INFORMATION:
Title: Cancellation of Debt.
OMB Number: 1545-1424.
Form Number: 1099-C.
Regulation Project Number: TD 9793.
Abstract: This form is used by Federal Government agencies,
financial institutions, and credit unions to report the cancellation or
forgiveness of a debt of $600 or more, as required by section 6050P of
the Internal Revenue Code. The IRS uses the form to verify compliance
with the reporting rules and to verify that the debtor has included the
proper amount of canceled debt in income on his or her income tax
return.
TD 9793
Abstract: These regulations under section 6050P of the Internal
Revenue Code (Code), relating to the rule in Sec. 1.6050P-1(b)(2)(iv)
that the 36-month non-payment testing period is an identifiable event
triggering an information reporting obligation on Form 1099-C for
discharge of indebtedness by certain entities.
Current Actions: There are no changes being made to the form or
regulation at this time.
Type of Review: Extension of a currently approved collection.
Affected Public: Business or other for-profit organizations, not-
for-profit institutions, and the Federal Government.
Estimated Number of Responses: 6,540,900.
Estimated Time per Response: 13 minutes.
Estimated Total Annual Burden Hours: 1,438,998.
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 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 8, 2024.
Martha R. Brinson,
Tax Analyst.
[FR Doc. 2024-05466 Filed 3-14-24; 8:45 am]
BILLING CODE 4830-01-P
