Agency Collection Activities; Requesting Comments on Regulation Project TD 8513, 8101-8102 [2025-01569]
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Federal Register / Vol. 90, No. 14 / Thursday, January 23, 2025 / Notices
Lisa M. Palluconi,
Acting Director, Office of Foreign Assets
Control.
[FR Doc. 2025–01595 Filed 1–22–25; 8:45 am]
BILLING CODE 4810–AL–C
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment
Request for Information Collection
Tools Relating to the Request for a
Copy of Exempt or Political
Organization IRS Form, Application, or
Letter
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 information collection
requirements related to the request for a
copy of exempt or political organization
IRS form, application, or letter.
DATES: Written comments should be
received on or before March 24, 2025 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–
0495 or Request for a Copy of Exempt
or Political Organization IRS Form,
Application, or Letter, in the subject
line of the message.
FOR FURTHER INFORMATION CONTACT:
Requests for additional information or
copies of the form(s) should be directed
to Kerry Dennis at (202) 317–5751, or at
Internal Revenue Service, Room 6526,
1111 Constitution Avenue NW,
Washington DC 20224, or through the
internet, at Kerry.L.Dennis@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Request for a Copy of Exempt or
Political Organization IRS Form,
Application, or Letter.
OMB Number: 1545–0495.
Form Number(s): 4506–A and 4506–B.
Abstract: Internal Revenue Code
section 6104 states that if an
organization described in section 501(c)
or (d) is exempt from taxation under
section 501(a) for any taxable year, the
application for exemption is open for
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SUMMARY:
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public inspection. This includes all
supporting statements, any letter or
other documents issued by the IRS
concerning the application, and certain
annual returns of the organization. Form
4506–A, Request for Public Inspection
or Copy of Exempt or Political
Organization IRS Form and Form 4506–
B, Request for a Copy of Exempt
Organization IRS Application or Letter,
is used to request public inspection or
a copy of these forms.
Current Actions: There are no changes
to the forms, however, the agency has
updated the estimated number of
respondents based on the most recent
filing data. The agency estimates 8,000
more respondents for a total of 27,000
respondents, increasing overall burden
by 6,790 (19,400 hours to 26,190 hours).
However, the estimated time per
response remains the same at 58
minutes as there have been no changes
to the forms.
Type of Review: Extension of a
currently approved collection.
Affected Public: Individuals or
households, and businesses or other forprofit organizations, not-for-profit,
institutions, farms, and Federal, state,
local or tribal governments.
Estimated Number of Respondents:
27,000.
Estimated Time per Response: 58
minutes.
Estimated Total Annual Burden
Hours: 26,190 hours.
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.
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
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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: January 16, 2025.
Kerry L. Dennis,
Tax Analyst.
[FR Doc. 2025–01572 Filed 1–22–25; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Agency Collection Activities;
Requesting Comments on Regulation
Project TD 8513
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 proposed and/or
continuing information collections, as
required by the Paperwork Reduction
Act of 1995. The IRS is soliciting
comments concerning Bad Debt
Reserves of Banks.
DATES: Written comments should be
received on or before March 24, 2025 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 No. 1545–1290 in
the subject line of the message.
FOR FURTHER INFORMATION CONTACT:
Requests for additional information or
copies of this collection should be
directed to Jason Schoonmaker, (801)
620–2128, at Internal Revenue Service,
Room 6526, 1111 Constitution Avenue
NW, Washington, DC 20224, or through
the internet at jason.m.schoonmaker@
irs.gov.
SUMMARY:
The IRS is
currently seeking comments concerning
the following information collection
tools, reporting, and record-keeping
requirements:
Title: Bad Debt Reserves of Banks.
OMB Number: 1545–1290.
Regulation Project Number: TD 8513.
Abstract: Section 585(c) of the
Internal Revenue Code requires large
banks to change from reserve method of
SUPPLEMENTARY INFORMATION:
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23JAN1
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8102
Federal Register / Vol. 90, No. 14 / Thursday, January 23, 2025 / Notices
accounting to the specific charge off
method of accounting for bad debts.
Section 1.585–8 of the regulation
contains reporting requirements in cases
in which large banks elect (1) to include
in income an amount greater than that
prescribed by the Code; (2) to use the
elective cut-off method of accounting: or
(3) to revoke any elections previously
made.
Current Actions: There is no change to
this existing regulation.
Type of Review: Extension of a
currently approved collection.
Affected Public: Business or other forprofit organizations.
Estimated Number of Respondents:
2,500.
Estimated Time per Respondent: 15
min.
Estimated Total Annual Burden
Hours: 625.
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: January 16, 2025.
Jason M. Schoonmaker,
Tax Analyst.
[FR Doc. 2025–01569 Filed 1–22–25; 8:45 am]
BILLING CODE 4830–01–P
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
Agency Collection Activities;
Requesting Comments on Burden
Related to Interest Rates and
Appropriate Foreign Loss Payment
Patterns of Certain Controlled
Corporations
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 proposed and/or
continuing information collections, as
required by the Paperwork Reduction
Act of 1995. The IRS is soliciting
comments concerning the burden
related to the interest rates and
appropriate foreign loss payment
patterns for determining the qualified
insurance income of certain controlled
corporations under section 954(i).
DATES: Written comments should be
received on or before March 24, 2025 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 No. 1545–1799 in
the subject line of the message.
FOR FURTHER INFORMATION CONTACT:
Requests for additional information or
copies of this collection should be
directed to Jason Schoonmaker, (801)
620–2128, at Internal Revenue Service,
Room 6526, 1111 Constitution Avenue
NW, Washington, DC 20224, or through
the internet at jason.m.schoonmaker@
irs.gov.
SUMMARY:
The IRS is
currently seeking comments concerning
the following information collection
tools, reporting, and record-keeping
requirements:
Title: Interest Rates and Appropriate
Foreign Loss Payment Patterns for
Determining the Qualified Insurance
Income of Certain Controlled
Corporations under Section 954(i).
OMB Number: 1545–1799.
Regulation/Project Number: Notice
2002–69.
Abstract: Notice 2002–69 (2002–43
I.R.B. 730) published October 28, 2002,
provides interim guidance for
determining the interest rates and
appropriate foreign loss payment
SUPPLEMENTARY INFORMATION:
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patterns to be used by controlled foreign
corporations in calculating their
qualified insurance income under
section 954(i) of the Internal Revenue
Code. Taxpayers may rely on the
guidance in this notice until regulations
or other guidance are published.
Current Actions: There is no change to
the burden previously approved.
Type of Review: Extension of a
currently approved collection.
Affected Public: Individuals or
households, business, or other for-profit
organizations.
Estimated Number of Responses: 300.
Estimated Time per Respondent: 1
hour.
Estimated Total Annual Burden
Hours: 300.
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: January 16, 2025.
Jason M. Schoonmaker,
Tax Analyst.
[FR Doc. 2025–01570 Filed 1–22–25; 8:45 am]
BILLING CODE 4830–01–P
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23JAN1
Agencies
[Federal Register Volume 90, Number 14 (Thursday, January 23, 2025)]
[Notices]
[Pages 8101-8102]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2025-01569]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Agency Collection Activities; Requesting Comments on Regulation
Project TD 8513
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
proposed and/or continuing information collections, as required by the
Paperwork Reduction Act of 1995. The IRS is soliciting comments
concerning Bad Debt Reserves of Banks.
DATES: Written comments should be received on or before March 24, 2025
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 No.
1545-1290 in the subject line of the message.
FOR FURTHER INFORMATION CONTACT: Requests for additional information or
copies of this collection should be directed to Jason Schoonmaker,
(801) 620-2128, at Internal Revenue Service, Room 6526, 1111
Constitution Avenue NW, Washington, DC 20224, or through the internet
at [email protected].
SUPPLEMENTARY INFORMATION: The IRS is currently seeking comments
concerning the following information collection tools, reporting, and
record-keeping requirements:
Title: Bad Debt Reserves of Banks.
OMB Number: 1545-1290.
Regulation Project Number: TD 8513.
Abstract: Section 585(c) of the Internal Revenue Code requires
large banks to change from reserve method of
[[Page 8102]]
accounting to the specific charge off method of accounting for bad
debts. Section 1.585-8 of the regulation contains reporting
requirements in cases in which large banks elect (1) to include in
income an amount greater than that prescribed by the Code; (2) to use
the elective cut-off method of accounting: or (3) to revoke any
elections previously made.
Current Actions: There is no change to this existing regulation.
Type of Review: Extension of a currently approved collection.
Affected Public: Business or other for-profit organizations.
Estimated Number of Respondents: 2,500.
Estimated Time per Respondent: 15 min.
Estimated Total Annual Burden Hours: 625.
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: January 16, 2025.
Jason M. Schoonmaker,
Tax Analyst.
[FR Doc. 2025-01569 Filed 1-22-25; 8:45 am]
BILLING CODE 4830-01-P