Application of Cost Accounting Standards to Indefinite Delivery Vehicles, 51491 [2024-12225]
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Federal Register / Vol. 89, No. 118 / Tuesday, June 18, 2024 / Proposed Rules
nonrecognition transaction, a transfer of
property that was distributed in a
transaction of interest under this section
on Form 8886 (or successor form) and
file the form with its tax return for
taxable year 1. In addition, Partner A,
ABC Partnership and AX Partnership
must send a copy of their respective
Form 8886 (or successor form) to OTSA.
(4) Example 4: Reporting of the
Federal income tax consequences
(reduced taxable gain) of the transaction
in the taxable year of disposition of the
property—(i) Facts. Under the same
facts as in paragraph (g)(3)(i) of this
section (Example 3), in taxable year 2,
AX Partnership disposes of Land in a
taxable sale for its fair market value of
$6 million and recognizes gain of zero.
(ii) Analysis. As part of its disclosure
requirements under paragraph (f) of this
section and § 1.6011–4(d) and (e), AX
Partnership must disclose the taxable
gain (zero) on the disposition of Land on
Form 8886 (or successor form) for
taxable year 2 as the Federal income tax
consequences of the transaction
described in paragraph (c)(1)(ii) of this
section. AX must file the form with its
tax return for taxable year 2 and send a
copy of the form to OTSA.
(h) Applicability date. This section’s
identification of transactions that are the
same as or substantially similar (within
the meaning of § 1.6011–4(c)(4)) to the
transactions described in paragraph (c)
of this section as transactions of interest
for purposes of § 1.6011–4(b)(6) and
sections 6111 and 6112 of the Code is
effective on the date the regulations are
published as final regulations in the
Federal Register.
Douglas W. O’Donnell,
Deputy Commissioner.
[FR Doc. 2024–13282 Filed 6–17–24; 8:45 am]
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OFFICE OF MANAGEMENT AND
BUDGET
Office of Federal Procurement Policy
48 CFR Chapter 99
Application of Cost Accounting
Standards to Indefinite Delivery
Vehicles
Cost Accounting Standards
Board, Office of Federal Procurement
Policy, Office of Management and
Budget.
ACTION: Notice of availability; request
for comments.
AGENCY:
The Office of Federal
Procurement Policy (OFPP), Cost
Accounting Standards Board (CAS
Board or the Board), is announcing the
availability a document, from case
2021–01, intended to elicit public views
on whether and how to amend the
Board’s rules to address the application
of Cost Accounting Standards (CAS) to
indefinite delivery vehicles (IDVs).
DATES: Comments must be in writing
and must be received by August 19,
2024.
SUMMARY:
Respondents are strongly
encouraged to submit comments
electronically to ensure timely receipt.
Electronic comments may be submitted
to OMBCASB@omb.eop.gov. Be sure to
include your name, title, organization,
and reference case 2021–01. If you must
submit by regular mail, please do so at
Office of Federal Procurement Policy,
725 17th Street NW, Washington, DC
20503, ATTN: John L. McClung.
Privacy Act Statement: The CAS
Board issues this request to elicit public
views pursuant to 41 U.S.C. 1502.
Submission of comments is voluntary.
The information will be used to inform
sound decision-making. Please note that
all comments received in response to
ADDRESSES:
PO 00000
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51491
this document may be posted or
released in their entirety, including any
personal and business confidential
information provided. Do not include
any information you would not like to
be made publicly available.
Additionally, the OMB System of
Records Notice, OMB Public Input
System of Records, OMB/INPUT/01, 88
FR 20913 (available at
www.federalregister.gov/documents/
2023/04/07/2023-07452/privacy-act-of1974-system-of-records), includes a list
of routine uses associated with the
collection of this information.
FOR FURTHER INFORMATION CONTACT: John
L. McClung, Manager, Cost Accounting
Standards Board (telephone: 202–881–
9758; email: john.l.mcclung2@
omb.eop.gov).
Availability: The full text of the
document is available at: https://
www.whitehouse.gov/omb/
management/office-federalprocurement-policy/#cost.
SUPPLEMENTARY INFORMATION:
Application of Cost Accounting
Standards to Indefinite Delivery
Vehicles (IDVs). The Board is soliciting
public views on whether and how to
amend its rules to address the
application of CAS to IDVs.
Rules, regulations, and standards
issued by the Board are codified at 48
CFR chapter 99. In accordance with 41
U.S.C. 1502, the Board is inviting
interested persons to provide input on
this document. All comments must be
in writing and submitted as instructed
in the ADDRESSES section.
Christine J. Harada,
Senior Advisor Office of Federal Procurement
Policy, and Chair, Cost Accounting Standards
Board, performing by delegation the duties
of the Administrator for Federal Procurement
Policy.
[FR Doc. 2024–12225 Filed 6–17–24; 8:45 am]
BILLING CODE 3110–01–P
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]]>Agencies
[Federal Register Volume 89, Number 118 (Tuesday, June 18, 2024)]
[Proposed Rules]
[Page 51491]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-12225]
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OFFICE OF MANAGEMENT AND BUDGET
Office of Federal Procurement Policy
48 CFR Chapter 99
Application of Cost Accounting Standards to Indefinite Delivery
Vehicles
AGENCY: Cost Accounting Standards Board, Office of Federal Procurement
Policy, Office of Management and Budget.
ACTION: Notice of availability; request for comments.
-----------------------------------------------------------------------
SUMMARY: The Office of Federal Procurement Policy (OFPP), Cost
Accounting Standards Board (CAS Board or the Board), is announcing the
availability a document, from case 2021-01, intended to elicit public
views on whether and how to amend the Board's rules to address the
application of Cost Accounting Standards (CAS) to indefinite delivery
vehicles (IDVs).
DATES: Comments must be in writing and must be received by August 19,
2024.
ADDRESSES: Respondents are strongly encouraged to submit comments
electronically to ensure timely receipt. Electronic comments may be
submitted to [email protected]. Be sure to include your name, title,
organization, and reference case 2021-01. If you must submit by regular
mail, please do so at Office of Federal Procurement Policy, 725 17th
Street NW, Washington, DC 20503, ATTN: John L. McClung.
Privacy Act Statement: The CAS Board issues this request to elicit
public views pursuant to 41 U.S.C. 1502. Submission of comments is
voluntary. The information will be used to inform sound decision-
making. Please note that all comments received in response to this
document may be posted or released in their entirety, including any
personal and business confidential information provided. Do not include
any information you would not like to be made publicly available.
Additionally, the OMB System of Records Notice, OMB Public Input System
of Records, OMB/INPUT/01, 88 FR 20913 (available at
www.federalregister.gov/documents/2023/04/07/2023-07452/privacy-act-of-1974-system-of-records), includes a list of routine uses associated
with the collection of this information.
FOR FURTHER INFORMATION CONTACT: John L. McClung, Manager, Cost
Accounting Standards Board (telephone: 202-881-9758; email:
[email protected]).
Availability: The full text of the document is available at:
https://www.whitehouse.gov/omb/management/office-federal-procurement-policy/#cost.
SUPPLEMENTARY INFORMATION:
Application of Cost Accounting Standards to Indefinite Delivery
Vehicles (IDVs). The Board is soliciting public views on whether and
how to amend its rules to address the application of CAS to IDVs.
Rules, regulations, and standards issued by the Board are codified
at 48 CFR chapter 99. In accordance with 41 U.S.C. 1502, the Board is
inviting interested persons to provide input on this document. All
comments must be in writing and submitted as instructed in the
ADDRESSES section.
Christine J. Harada,
Senior Advisor Office of Federal Procurement Policy, and Chair, Cost
Accounting Standards Board, performing by delegation the duties of the
Administrator for Federal Procurement Policy.
[FR Doc. 2024-12225 Filed 6-17-24; 8:45 am]
BILLING CODE 3110-01-P
