Proposed Collection; Comment Request for Revenue Procedure Waiver of 60-Day Rollover Requirement, 71787-71788 [2024-19598]
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tkelley on LAP7H3WLY3PROD with NOTICES2
Federal Register / Vol. 89, No. 170 / Tuesday, September 3, 2024 / Notices
(ii) Schedule B number: 2909.49.0000.
(iii) CAS number: 770–35–4.
(4) Petition filing dates:
(i) Petition filing date for purposes of
making a determination: June 13, 2024.
(ii) Petition filing date for purposes of
section 11.02 of Rev. Proc. 2022–26, as
modified by section 3 of Rev. Proc.
2023–20: July 1, 2022.
(5) Description from petition:
According to the petition, propylene
glycol phenyl ether is a propylene oxide
and phenol based ether-alcohol solvent.
Propylene glycol phenyl ether, a liquid,
is used in a variety of applications
including coatings and cleaning.
Propylene glycol phenyl ether is made
from propylene, chlorine, sodium
hydroxide, and benzene. Taxable
chemicals constitute 91.00 percent by
weight of the materials used to produce
this substance.
(6) Process identified in petition as
predominant method of production of
substance: Glycol ethers are
predominantly produced by reacting an
epoxide (typically ethylene oxide or
propylene oxide) with an alcohol; this
reaction process is referred to as
alkoxylation. Propylene glycol phenyl
ether is made via the alkoxylation
process (also known as ring opening of
an epoxide) using phenol and propylene
oxide. Propylene oxide is made by
hydrochlorination (chlorine (Cl2),
propylene (C3H6), and sodium
hydroxide (NaOH)). Phenol is made via
the Hock process (sometimes called the
cumene process). The Hock process has
two stages. In stage 1, benzene (C6H6) is
alkylated with propylene (C3H6) to make
cumene (isopropyl benzene). In stage 2,
cumene (C6H5(C3H7)) is partially
oxidized to make phenol (C6H5OH) and
side product dimethyl ketone
((CH3)2CHO).
Additional information on the
production process:
• The propylene glycol phenyl ether
alkoxylation reaction (phenol +
propylene oxide) is base catalyzed,
using a small amount of metal
hydroxide. Once phenoxide is made, it
is regenerated following conversion to
the product in the presence of
propylene oxide. Regenerated
phenoxide in the presence of propylene
oxide will perpetually react until all
propylene oxide is consumed or the
reaction is halted through the use of
controls.
Æ Since the amount of metal
hydroxide used to produce propylene
glycol phenyl ether is very small, the
metal hydroxide has been excluded
from the stoichiometric material
consumption equation; including the
metal hydroxide would lead to a
distorted conversion factor.
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(7) Stoichiometric material
consumption equation, based on
process identified as predominant
method of production:
2 C3H6 (propylene) + Cl2 (chlorine) + 2
NaOH (sodium hydroxide) + C6H6
(benzene) + O2 (oxygen) → 2 NaCl
+ H2O (water) + (CH3)2CO dimethyl
ketone + C9H12O2 (propylene glycol
phenyl ether)
(8) Tax rate calculated by Petitioner,
based on Petitioner’s conversion factors
for taxable chemicals used in
production of substance:
(i) Tax rate: $13.16 per ton.
(ii) Conversion factors: 0.55 for
propylene, 0.47 for chlorine, 0.53 for
sodium hydroxide, and 0.51 for
benzene.
(9) Public docket number: IRS–2024–
0044.
Michael Beker,
Senior Counsel (Passthroughs and Special
Industries), IRS Office of Chief Counsel.
[FR Doc. 2024–19605 Filed 8–30–24; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment
Request for Revenue Procedure
Waiver of 60-Day Rollover
Requirement
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 waiver of 60-Day rollover
requirement.
DATES: Written comments should be
received on or before November 4, 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 Control Number 1545–
2269 or Revenue Procedure 2020–46.
FOR FURTHER INFORMATION CONTACT:
Requests for additional information or
copies of the form should be directed to
Sara Covington, at (202) 317–5744 or
Internal Revenue Service, Room 6526,
SUMMARY:
PO 00000
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71787
1111 Constitution Avenue NW,
Washington, DC 20224, or through the
internet, at sara.l.covington@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Waiver of 60-Day Rollover
Requirement.
OMB Number: 1545–2269.
Revenue Procedure: 2020–46.
Abstract: Revenue Procedure 2020–46
modifies and updates Rev. Proc. 2016–
47, 2016–37 I.R.B. 346. Section 3.02(2)
of Rev. Proc. 2016–47 provides a list of
permissible reasons for self-certification
of eligibility for a waiver of the 60 day
rollover requirement, and, in response
to requests from stakeholders, this
revenue procedure modifies that list by
adding a new reason: a distribution was
made to a state unclaimed property
fund. As under Rev. Proc. 2016–47, a
self-certification relates only to the
reasons for missing the 60-day deadline,
not to whether a distribution is
otherwise eligible to be rolled over. An
appendix contains a model letter that
may be used for self-certification.
Upon receipt of a self-certification, a
plan administrator or IRA trustee may
accept the contribution and treat it as
having satisfied the requirements for a
waiver of the 60-day requirement.
Currently, the only way for a taxpayer
to obtain a waiver of the 60 day
requirement with respect to an amount
distributed to a state unclaimed
property fund is to apply to the Internal
Revenue Service (IRS) for a favorable
ruling, which is issued by the Tax
Exempt and Government Entities
Division (TE/GE). The user fee for a
ruling is $10,000. The program outlined
in this revenue procedure permits
taxpayers to receive the benefits of a
waiver without paying a user fee.
Current Actions: There is no change to
this existing revenue procedure.
Type of Review: Extension of a
currently approved collection.
Affected Public: Individuals or
Households.
Estimated Number of Respondents:
160.
Estimated Time per Response: 3
hours.
Estimated Total Annual Burden
Hours: 480.
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
U:\REGISTER\03SEN1.SGM
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71788
Federal Register / Vol. 89, No. 170 / Tuesday, September 3, 2024 / Notices
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: August 27, 2024.
Sara L. Covington,
IRS Tax Analyst.
[FR Doc. 2024–19598 Filed 8–30–24; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Superfund Tax on Chemical
Substances; Request To Modify List of
Taxable Substances; Notice of Filing
for Diethylene Glycol Monomethyl
Ether
Internal Revenue Service (IRS),
Treasury.
ACTION: Notice of filing and request for
comments.
AGENCY:
This notice of filing
announces that a petition has been filed
requesting that diethylene glycol
monomethyl ether be added to the list
of taxable substances. This notice of
filing also requests comments on the
petition. This notice of filing is not a
determination that the list of taxable
substances is modified.
DATES: Written comments and requests
for a public hearing must be received on
or before November 4, 2024.
ADDRESSES: Commenters are encouraged
to submit public comments or requests
for a public hearing relating to this
petition electronically via the Federal
eRulemaking Portal at https://
www.regulations.gov (indicate public
docket number IRS–2024–0038 or
diethylene glycol monomethyl ether) by
tkelley on LAP7H3WLY3PROD with NOTICES2
SUMMARY:
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22:46 Aug 30, 2024
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following the online instructions for
submitting comments. Comments
cannot be edited or withdrawn once
submitted to the Federal eRulemaking
Portal. Alternatively, comments and
requests for a public hearing may be
mailed to: Internal Revenue Service,
Attn: CC:PA:01:PR (Notice of Filing for
Diethylene Glycol Monomethyl Ether),
Room 5203, P.O. Box 7604, Ben
Franklin Station, Washington, DC
20044. All comments received are part
of the public record and subject to
public disclosure. All comments
received will be posted without change
to www.regulations.gov, including any
personal information provided. You
should submit only information that
you wish to make publicly available. If
a public hearing is scheduled, notice of
the time and place for the hearing will
be published in the Federal Register.
FOR FURTHER INFORMATION CONTACT:
Camille Edwards Bennehoff at (202)
317–6855 (not a toll-free number).
Request To Add Substance to the List
(a) Overview. A petition was filed
pursuant to Rev. Proc. 2022–26 (2022–
29 I.R.B. 90), as modified by Rev. Proc.
2023–20 (2023–15 I.R.B. 636),
requesting that diethylene glycol
monomethyl ether be added to the list
of taxable substances under section
4672(a) of the Internal Revenue Code
(List). The petition requesting the
addition of diethylene glycol
monomethyl ether to the List is based
on weight and contains the information
detailed in paragraph (b) of this
document. The information is provided
for public notice and comment pursuant
to section 9 of Rev. Proc. 2022–26. The
publication of petition information in
this notice of filing is not a
determination and does not constitute
Treasury Department or IRS
confirmation of the accuracy of the
information published.
(b) Petition Content.
(1) Substance name: Diethylene glycol
monomethyl ether.
(2) Petitioner: The Dow Chemical
Company, an exporter of diethylene
glycol monomethyl ether.
(3) Proposed classification numbers:
(i) HTSUS number: 2909.44.01.10.
(ii) Schedule B number: 2909.49.0000.
(iii) CAS number: 111–77–3.
(4) Petition filing dates:
(i) Petition filing date for purposes of
making a determination: June 13, 2024.
(ii) Petition filing date for purposes of
section 11.02 of Rev. Proc. 2022–26, as
modified by section 3 of Rev. Proc.
2023–20: July 1, 2022.
(5) Description from petition:
According to the petition, diethylene
glycol monomethyl ether is an ethylene
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based glycol ether solvent. Diethylene
glycol monomethyl ether is a liquid
used in a variety of applications
including coatings and cleaning.
Diethylene glycol monomethyl ether
is made from ethylene and methane.
Taxable chemicals constitute 59.00
percent by weight of the materials used
to produce this substance.
(6) Process identified in petition as
predominant method of production of
substance: Glycol ethers are
predominantly produced by reacting an
epoxide (typically ethylene oxide or
propylene oxide) with an alcohol; this
reaction process is referred to as
alkoxylation. Diethylene glycol
monomethyl ether (C5H12O3) is
produced by the alkoxylation process
using methanol (CH3OH) and 2
equivalents of ethylene oxide (C2H4O).
Methanol is made from syngas (carbon
monoxide and dihydrogen). Carbon
monoxide (CO) and dihydrogen (H2) are
made by steam-methane reforming (CH4
and H2O). Ethylene oxide (EO) is made
from oxidizing ethylene (C2H4).
Additional information on the
production process:
• The diethylene glycol monomethyl
ether reaction (methanol + EO) is base
catalyzed, using a small amount of
metal hydroxide to produce methoxide.
Æ Since the amount of metal
hydroxide used to produce propylene
glycol methyl ether is very small, the
metal hydroxide has been excluded
from the stoichiometric material
consumption equation; including the
metal hydroxide would lead to a
distorted conversion factor.
• Once methoxide is made, it is
regenerated following conversion to the
product in the presence of EO as
follows:
Æ Methoxide + 2 EO → diethylene
glycol monomethyl ether-alkoxide
Æ Diethylene glycol monomethyl
ether-alkoxide + methanol → diethylene
glycol monomethyl ether + methoxide
(goes back to participate in the reaction
above).
• Regenerated methoxide in the
presence of EO will perpetually react
until all EO is consumed or the reaction
is halted through the use of controls.
(7) Stoichiometric material
consumption equation, based on
process identified as predominant
method of production:
2 C2H4 (ethylene) + O2 (oxygen) + CH4
(methane) + H2O (water) → H2
(hydrogen) + C5H12O3 (diethylene
glycol monomethyl ether)
(8) Tax rate calculated by Petitioner,
based on Petitioner’s conversion factors
for taxable chemicals used in
production of substance:
(i) Tax rate: $5.47 per ton.
U:\REGISTER\03SEN1.SGM
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]]>Agencies
[Federal Register Volume 89, Number 170 (Tuesday, September 3, 2024)]
[Notices]
[Pages 71787-71788]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-19598]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment Request for Revenue Procedure Waiver
of 60-Day Rollover Requirement
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Notice and request for comments.
-----------------------------------------------------------------------
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 waiver
of 60-Day rollover requirement.
DATES: Written comments should be received on or before November 4,
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 Control Number
1545-2269 or Revenue Procedure 2020-46.
FOR FURTHER INFORMATION CONTACT: Requests for additional information or
copies of the form 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: Waiver of 60-Day Rollover Requirement.
OMB Number: 1545-2269.
Revenue Procedure: 2020-46.
Abstract: Revenue Procedure 2020-46 modifies and updates Rev. Proc.
2016-47, 2016-37 I.R.B. 346. Section 3.02(2) of Rev. Proc. 2016-47
provides a list of permissible reasons for self-certification of
eligibility for a waiver of the 60 day rollover requirement, and, in
response to requests from stakeholders, this revenue procedure modifies
that list by adding a new reason: a distribution was made to a state
unclaimed property fund. As under Rev. Proc. 2016-47, a self-
certification relates only to the reasons for missing the 60-day
deadline, not to whether a distribution is otherwise eligible to be
rolled over. An appendix contains a model letter that may be used for
self-certification.
Upon receipt of a self-certification, a plan administrator or IRA
trustee may accept the contribution and treat it as having satisfied
the requirements for a waiver of the 60-day requirement. Currently, the
only way for a taxpayer to obtain a waiver of the 60 day requirement
with respect to an amount distributed to a state unclaimed property
fund is to apply to the Internal Revenue Service (IRS) for a favorable
ruling, which is issued by the Tax Exempt and Government Entities
Division (TE/GE). The user fee for a ruling is $10,000. The program
outlined in this revenue procedure permits taxpayers to receive the
benefits of a waiver without paying a user fee.
Current Actions: There is no change to this existing revenue
procedure.
Type of Review: Extension of a currently approved collection.
Affected Public: Individuals or Households.
Estimated Number of Respondents: 160.
Estimated Time per Response: 3 hours.
Estimated Total Annual Burden Hours: 480.
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
[[Page 71788]]
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: August 27, 2024.
Sara L. Covington,
IRS Tax Analyst.
[FR Doc. 2024-19598 Filed 8-30-24; 8:45 am]
BILLING CODE 4830-01-P
