Department of Treasury March 2016 – Federal Register Recent Federal Regulation Documents

Proposed Collection; Comment Request for Regulation Project
Document Number: 2016-04761
Type: Notice
Date: 2016-03-03
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
The Department of the Treasury, 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, Public Law 104-13 (44 U.S.C. 3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning TD 9451, Guidance Necessary to Facilitate Business Election Filing.
Establishment of the Loess Hills District Viticultural Area
Document Number: 2016-04760
Type: Rule
Date: 2016-03-03
Agency: Alcohol and Tobacco Tax and Trade Bureau, Department of Treasury, Department of the Treasury
The Alcohol and Tobacco Tax and Trade Bureau (TTB) establishes the approximately 12,897-square mile ``Loess Hills District'' viticultural area in western Iowa and northwestern Missouri. This new viticultural area is not located within any other viticultural area. TTB designates viticultural areas to allow vintners to better describe the origin of their wines and to allow consumers to better identify wines they may purchase.
Low Income Taxpayer Clinic Grant Program; Availability of 2016 Supplemental Grant Application Period
Document Number: 2016-04720
Type: Notice
Date: 2016-03-03
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains a Notice that the IRS is accepting applications from qualified organizations for a part-year Low Income Taxpayer Clinic (LITC) matching grant to provide representation to low income taxpayers and education about taxpayer rights and responsibilities to individuals who speak English as a second language in certain identified geographic areas. The grant will cover the last six months of the 2016 grant year, from July 1, 2016, through December 31, 2016. The supplemental application period shall run from March 1, 2016, to April x1, 2016. Despite the IRS's efforts to foster parity in availability and accessibility in the selection of organizations receiving LITC matching grants and the continued increase in clinic services nationwide, there remain communities that are underrepresented by clinics. For the supplemental application period, the IRS will focus on geographic areas where there is limited or no clinic representation. The IRS will award up to $1.28 million in funding to qualifying organizations, subject to the limitations of Internal Revenue Code section 7526. A qualifying organization may receive a matching grant of up to $100,000 per year. Organizations currently receiving a grant are not eligible to apply during this supplemental application period. Grant funds may be awarded for start-up expenditures incurred during the grant year. The selection process for these part-year grants may not be complete before the beginning of the application period for the 2017 grant year; thus, applicants for a part-year grant will be expected to submit a separate application for full-year funding for the 2017 grant year during the 2017 grant application period, when announced later this year. Below is a list that contains the identified underserved geographic areas:
Expansion of the Willamette Valley Viticultural Area
Document Number: 2016-04710
Type: Rule
Date: 2016-03-03
Agency: Alcohol and Tobacco Tax and Trade Bureau, Department of Treasury, Department of the Treasury
The Alcohol and Tobacco Tax and Trade Bureau (TTB) is expanding the approximately 5,360-square mile ``Willamette Valley'' viticultural area in northwestern Oregon, by approximately 29 square miles. Neither the established viticultural area nor the expansion area is located within any other established viticultural area. TTB designates viticultural areas to allow vintners to better describe the origin of their wines and to allow consumers to better identify wines they may purchase.
Utility Allowances Submetering
Document Number: 2016-04618
Type: Proposed Rule
Date: 2016-03-03
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains proposed regulations that amend the utility allowance regulations concerning the low-income housing credit. The proposed regulations relate to the circumstances in which utility costs paid by a tenant based on actual consumption in a submetered rent-restricted unit are treated as paid by the tenant directly to the utility company. The proposed regulations extend those rules to situations in which a building owner sells to tenants energy that is produced from a renewable source and that is not delivered by a local utility company. The proposed regulations affect owners of low-income housing projects that claim the credit, the tenants in those low-income housing projects, and the State and local housing credit agencies that administer the credit. In the Rules and Regulations section of this issue of the Federal Register, the IRS is issuing temporary regulations concerning utility allowance regulations when the utility is generated from renewable sources and is not delivered by the local utility company. The text of those regulations also serves as the text of these proposed regulations. This document also contains a notice of a public hearing on these proposed regulations.
Utility Allowances Submetering
Document Number: 2016-04606
Type: Rule
Date: 2016-03-03
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains final and temporary regulations that amend the utility allowance regulations concerning the low-income housing credit. The final regulations clarify the circumstances in which utility costs paid by a tenant based on actual consumption in a submetered rent-restricted unit are treated as paid by the tenant directly to the utility company. The temporary regulations extend the principles of these submetering rules to situations in which a building owner sells to tenants energy that is produced from a renewable source and that is not delivered by a local utility company. The final and temporary regulations affect owners of low-income housing projects that claim the credit, the tenants in those low-income housing projects, and State and local housing credit agencies. The text of these temporary regulations also serves as the text of the proposed regulations (REG- 123867-14) set forth in the notice of proposed rulemaking on this subject in the Proposed Rules section of this issue of the Federal Register.
Regulations Under IRC Section 7430 Relating to Awards of Administrative Costs and Attorneys' Fees
Document Number: 2016-04401
Type: Rule
Date: 2016-03-01
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains final regulations relating to awards of administrative costs and attorneys' fees. The final regulations conform the regulations to the amendments made in the Taxpayer Relief Act of 1997 and the IRS Restructuring and Reform Act of 1998. The regulations affect taxpayers seeking attorneys' fees and costs.
Agency Information Collection Activities: Information Collection Renewal; Comment Request; Municipal Securities Dealers and Government Securities Brokers and Dealers-Registration and Withdrawal
Document Number: 2016-04354
Type: Notice
Date: 2016-03-01
Agency: Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury
The OCC, 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 a continuing information collection, as required by the Paperwork Reduction Act of 1995. Under the Paperwork Reduction Act of 1995 (the PRA), Federal Agencies are required to publish notice in the Federal Register concerning each proposed collection of information, including each proposed extension of an existing collection of information and to allow 60 days for public comment in response to the notice. In accordance with the requirements of the Paperwork Reduction Act of 1995 (44 U.S.C. chapter 35), the OCC may not conduct or sponsor, and the respondent is not required to respond to, an information collection unless it displays a currently valid Office of Management and Budget (OMB) control number. The OCC is soliciting comment concerning the renewal of its information collection titled, ''Municipal Securities Dealers and Government Securities Brokers and DealersRegistration and Withdrawal.''