Agency Collection Activities; Requesting Comments on Regulation Project TD 8513, 8101-8102 [2025-01569]

Download as PDF 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 ddrumheller on DSK120RN23PROD with NOTICES1 SUMMARY: VerDate Sep<11>2014 18:29 Jan 22, 2025 Jkt 265001 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 PO 00000 Frm 00096 Fmt 4703 Sfmt 4703 8101 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: E:\FR\FM\23JAN1.SGM 23JAN1 ddrumheller on DSK120RN23PROD with NOTICES1 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 VerDate Sep<11>2014 17:45 Jan 22, 2025 Jkt 265001 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: PO 00000 Frm 00097 Fmt 4703 Sfmt 9990 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 E:\FR\FM\23JAN1.SGM 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


This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.