Proposed Extension of Information Collection Request Submitted for Public Comment; Comment Request on Burden Related to Advanced Pricing Agreements, 97169-97170 [2024-28578]
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Federal Register / Vol. 89, No. 235 / Friday, December 6, 2024 / Notices
need for an LLR Award? Why or why
not? What, if any, additional
information should be collected to
assess the need and use of an LLR
Award request?
5. Is the maximum award size for
Technical Assistance Awards of
$150,000 appropriate to support eligible
Technical Assistance activities? If not,
what maximum award size would be
appropriate and why?
6. Is the data collected in the track
record and projections tables adequate
and appropriate to assess an Applicant’s
experience in small dollar lending and
projections? Why or why not?
7. The period of performance for
SDLP awards is three years. Is three
years sufficient to expend the award to
launch or expand a small dollar loan
program? If it’s not sufficient, what
period would be more appropriate and
why?
8. Is there other information not
requested (such as additional detail on
other unsecured consumer loans below
$10,000) in the Application that would
demonstrate an Applicant’s experience
in small dollar lending and projected
small dollar lending activities? If yes,
what is that information?
9. The Application includes questions
about the intended impact of an
Applicant’s small dollar lending
strategy. (1) How should the CDFI Fund
assess the impact of SDL Program
Awards on communities served by
Applicants? (2) The CDFI Fund has
97169
identified a set of impact options for
Applicants to choose in the Application.
Are the current impact choices
sufficient? Why or why not? Are there
impacts that should be added or
modified and if yes, what are they?
10. The SDL Program Application
states that the Awards will not be made
to Applicants that engage in the
Prohibited Practices listed in Table 1.
Are the Prohibited Practices appropriate
to prevent predatory or abusive lending
practices that low-income borrowers
often face? Why are why not? Are there
any Prohibited Practices that should be
added, eliminated, or clarified? What
are they?
TABLE 1—SDL PROGRAM PROHIBITED PRACTICES
Prohibited practice
Prohibited practice definition
i. High-Rate loans .....................................................................
Loans that exceed the lower of the following two rates: (1) an all-inclusive 36%
APR (using the methodology prescribed in 32 CFR 232.4 of the Military Lending Act (referred to as the Military Annual Percentage Rate [MAPR]; or (2) the
interest rate limit as set by the state agency that oversees financial institutions
in your state.
Loans that: (1) have delayed loan disbursements for borrowers who do not agree
to automatic repayments, (2) charge fees for borrowers who select manual
payments, or (3) require borrowers to make payments using wire transfers or
other means that may result in additional fees for borrowers.
Loans that allow refinancing before at least 80% of the principal has been repaid.
Loans that offer add-on insurance or credit card products, whether they are automatic or not, that require borrowers to opt-in or opt-out to decline coverage or
require the borrower to accept or opt-out of a credit card. For example, loans
that automatically include insurance products such as credit, life, disability insurance or involuntary unemployment insurance coverage, or loans that automatically open a credit card for the borrower.
Loans that are secured, except for loans secured by a savings account for loans
with a savings component or credit builder loans.
ii. Coerced automated repayments ..........................................
iii. Excessive refinancing ..........................................................
iv. Loan insurance or credit card add-ons ...............................
v. Security interests in household goods, vehicles, or deposit
accounts. Exception: loans with a savings account component or credit builder loans.
vi. Excessive late fees on missed loan payments ...................
vii. Abusive overdraft practices ................................................
viii. Aggressive debt collection practices .................................
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ix. Forced arbitration clause, class action ban, and other
bans on legal remedies.
Loans that charge more than one fee per late payment.
Lenders who hold the account from which repayment is being made may not collect a loan payment from the borrower’s account that overdraws the account,
triggering overdraft fees.
Loans in which the lender:
• Does not offer a workout program or other accommodations to help struggling
borrowers before pursuing other debt collection avenues.
• All debt collection activities must comply with the Fair Debt Collection Practices
Act, whether conducted by the lender, a contract debt collector or sold to third
party debt collectors.
• Does not disclose to borrowers the details of its debt collection practices or
provide notice to a borrower when its account is placed with debt collectors.
Loan contracts that contain clauses that prevent borrowers from seeking legal
remedies in court, such as mandatory arbitration clauses, or clauses requiring
that the borrower waive the right to a trial by jury or the right to participate in a
class action lawsuit.
Authority: (Pub. L. 111–203. 12 U.S.C.
4719, 12 CFR part 1805, 12 CFR part
1815, 12 U.S.C. 4502)
DEPARTMENT OF THE TREASURY
Pravina Raghavan,
Director, Community Development Financial
Institutions Fund.
Proposed Extension of Information
Collection Request Submitted for
Public Comment; Comment Request
on Burden Related to Advanced
Pricing Agreements
[FR Doc. 2024–28521 Filed 12–5–24; 8:45 am]
BILLING CODE 4810–05–P
Internal Revenue Service
Internal Revenue Service (IRS),
Treasury.
AGENCY:
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18:02 Dec 05, 2024
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Notice and request for
comments.
ACTION:
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
SUMMARY:
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97170
Federal Register / Vol. 89, No. 235 / Friday, December 6, 2024 / Notices
Act of 1995. Currently, the IRS is
soliciting comments concerning the
burden for requesting and obtaining
advance pricing agreements.
DATES: Written comments should be
received on or before February 4, 2025
to be assured of consideration.
ADDRESSES: Direct all written comments
to Andrés 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–
1503—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: Advance Pricing and Mutual
Agreement Program.
OMB Number: 1545–1503.
Document Number: Rev. Proc. 2015–
41.
Abstract: The purpose of section 482
is to ensure that taxpayers clearly reflect
income attributable to controlled
transactions and to prevent the
avoidance of taxes with respect to such
transactions. Revenue Procedure 2015–
41 provides guidance on the process of
requesting and obtaining advance
pricing agreements from the Advance
Pricing and Mutual Agreement program
(‘‘APMA’’). This revenue procedure also
provides guidance on administration of
an executed advance pricing agreement
(APA).
Current Actions: There are no changes
being made to the forms at this time.
Type of Review: Extension of a
currently approved collection.
Affected Public: Business or other forprofit organizations, individuals, or
households.
Estimated Number of Respondents:
390.
Estimated Time per Respondent: 27
hrs., 57 min.
Estimated Total Annual Burden
Hours: 10,900.
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
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19:12 Dec 05, 2024
Jkt 265001
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
included in the ICR for OMB approval
of the extension of the information
collection; they will also become a
matter of public record.
Approved: December 3, 2024.
Ronald J. Durbala,
IRS Tax Analyst.
[FR Doc. 2024–28578 Filed 12–5–24; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Electronic Tax Administration
Advisory Committee; Request for
Nominations
Internal Revenue Service,
Department of Treasury.
ACTION: Request for nominations and
applications.
AGENCY:
The Internal Revenue Service
(IRS) is requesting applications from
individuals with experience in such
areas as state tax administration,
cybersecurity and information security,
tax software development, tax
preparation, payroll and tax financial
product processing, systems
management and improvement,
implementation of customer service
initiatives, public administration, and
SUMMARY:
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consumer advocacy to be considered for
selection as members of the Electronic
Tax Administration Advisory
Committee (ETAAC).
DATES: Written nominations and
applications must be received on or
before Jan. 31, 2025.
ADDRESSES: Applications may be
submitted via fax to 855–811–8020 or
via email to PublicLiaison@irs.gov.
Applications and additional information
are available on the IRS website at
https://www.irs.gov/etaac. Applications
may also be requested by telephone
from National Public Liaison, 202–317–
4299.
FOR FURTHER INFORMATION CONTACT: Alec
Johnston at (202) 317–4299, or send an
email to publicliaison@irs.gov.
SUPPLEMENTARY INFORMATION: The IRS
strongly encourages representatives
from consumer groups with an interest
in tax issues to apply.
Nominations should describe and
document the proposed member’s
qualifications for ETAAC membership,
including the applicant’s knowledge of
regulations and the applicant’s past or
current affiliations and involvement
with the particular tax segment or
segments of the community that the
applicant wishes to represent on the
committee. Applications will be
accepted for current vacancies from
qualified individuals and from
professional and public interest groups
that wish to have representation on
ETAAC. Submissions must include an
application and resume.
ETAAC provides continuing input
into the development and
implementation of the IRS
organizational strategy for electronic tax
administration. The ETAAC provides an
organized public forum for discussion of
electronic tax administration issues—
such as prevention of identity theftrelated refund fraud—in support of the
overriding goal that paperless filing
should be the preferred and most
convenient method of filing tax and
information returns. ETAAC members
work closely with the Security Summit,
a joint effort of the IRS, state tax
administrators and the nation’s tax
industry, to fight identity theft and
refund fraud. ETAAC members convey
the public’s perceptions of IRS
electronic tax administration activities,
offer constructive observations about
current or proposed policies, programs
and procedures, and suggest
improvements.
This is a volunteer position. Members
will serve three-year terms on the
ETAAC to allow for a rotation in
membership and ensure different
perspectives are represented. Travel
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]]>Agencies
[Federal Register Volume 89, Number 235 (Friday, December 6, 2024)]
[Notices]
[Pages 97169-97170]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-28578]
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Extension of Information Collection Request Submitted
for Public Comment; Comment Request on Burden Related to Advanced
Pricing Agreements
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 public and other
Federal agencies to take this opportunity to comment on proposed and/or
continuing information collections, as required by the Paperwork
Reduction
[[Page 97170]]
Act of 1995. Currently, the IRS is soliciting comments concerning the
burden for requesting and obtaining advance pricing agreements.
DATES: Written comments should be received on or before February 4,
2025 to be assured of consideration.
ADDRESSES: Direct all written comments to Andr[eacute]s Garcia,
Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW,
Washington, DC 20224, or by email to [email protected]. Please
include, ``OMB Number: 1545-1503--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 [email protected].
SUPPLEMENTARY INFORMATION:
Title: Advance Pricing and Mutual Agreement Program.
OMB Number: 1545-1503.
Document Number: Rev. Proc. 2015-41.
Abstract: The purpose of section 482 is to ensure that taxpayers
clearly reflect income attributable to controlled transactions and to
prevent the avoidance of taxes with respect to such transactions.
Revenue Procedure 2015-41 provides guidance on the process of
requesting and obtaining advance pricing agreements from the Advance
Pricing and Mutual Agreement program (``APMA''). This revenue procedure
also provides guidance on administration of an executed advance pricing
agreement (APA).
Current Actions: There are no changes being made to the forms at
this time.
Type of Review: Extension of a currently approved collection.
Affected Public: Business or other for-profit organizations,
individuals, or households.
Estimated Number of Respondents: 390.
Estimated Time per Respondent: 27 hrs., 57 min.
Estimated Total Annual Burden Hours: 10,900.
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 included in the ICR for OMB approval of the extension of the
information collection; they will also become a matter of public
record.
Approved: December 3, 2024.
Ronald J. Durbala,
IRS Tax Analyst.
[FR Doc. 2024-28578 Filed 12-5-24; 8:45 am]
BILLING CODE 4830-01-P
