80 FR 13952 - Proposed Collection; Comment Request

DEPARTMENT OF THE TREASURY
Internal Revenue Service

Federal Register Volume 80, Issue 51 (March 17, 2015)

Page Range		13952-13953
FR Document		2015-06003

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 guidance regarding the treatment of certain contingent payment debt instructions with one or more payments that are denominated in, or determined by reference to, a nonfunctional currency.

Federal Register, Volume 80 Issue 51 (Tuesday, March 17, 2015)

[Federal Register Volume 80, Number 51 (Tuesday, March 17, 2015)]
[Notices]
[Pages 13952-13953]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-06003]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

-----------------------------------------------------------------------

SUMMARY: 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 
guidance regarding the treatment of certain contingent payment debt 
instructions with one or more payments that are denominated in, or 
determined by reference to, a nonfunctional currency.

DATES: Written comments should be received on or before May 18, 2015 to 
be assured of consideration.

ADDRESSES: Direct all written comments to Christie Preston, Internal 
Revenue Service, room 6129, 1111 Constitution Avenue NW., Washington, 
DC 20224.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the form and instructions should be directed to Sara 
Covington, at Internal Revenue Service, room 6129, 1111 Constitution 
Avenue NW., Washington, DC 20224, or through the internet at 
[email protected].

SUPPLEMENTARY INFORMATION:
    Title: Guidance Regarding the Treatment of Certain Contingent 
Payment Debt Instructions with one or more Payments that are 
Denominated in, or Determined by Reference to, a Nonfunctional 
Currency.
    OMB Number: 1545-1831.

[[Page 13953]]

    Form Number: REG-106486-98 (TD 9157--Final).
    Abstract: This document contains final regulations regarding the 
treatment of contingent payment debt instruments for which one or more 
payments are denominated in, or determined by reference to, a currency 
other than the taxpayer's functional currency. These regulations are 
necessary because current regulations do not provide guidance 
concerning the tax treatment of such instruments. The regulations 
affect issuers and holders of such instruments.
    Current Actions: There is no change in the paperwork burden 
previously approved by OMB. This form is being submitted for renewal 
purposes only.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Businesses and other for-profit organizations, 
Farms.
    Estimated Number of Respondents: 100.
    Estimated Time per Respondent: 1 hour.
    Estimated Total Annual Burden Hours: 100.
    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: March 9, 2015.
Christie Preston,
IRS Reports Clearance Officer.
[FR Doc. 2015-06003 Filed 3-16-15; 8:45 am]
BILLING CODE 4830-01-P

13952 Federal Register / Vol. 80, No. 51 / Tuesday, March 17, 2015 / Notices

Books or records relating to a collection Advocacy Panel (TAP). The mission of membership or the application process.
of information must be retained as long the TAP is to listen to taxpayers, Questions regarding the selection of
as their contents may become material identify issues that affect taxpayers, and TAP members may be directed to Lisa
in the administration of any internal make suggestions for improving IRS Billups, Taxpayer Advocacy Panel,
revenue law. Generally, tax returns and service and customer satisfaction. The Internal Revenue Service, 1111
tax return information are confidential, TAP serves as an advisory body to the Constitution Avenue NW., TA:TAP
as required by 26 U.S.C. 6103. Secretary of the Treasury, the Room 1509, Washington, DC 20224, or
Request for Comments: Comments Commissioner of Internal Revenue, and 214–413–6523 (not a toll-free call).
submitted in response to this notice will the National Taxpayer Advocate. TAP Dated: March 11, 2015.
be summarized and/or included in the members will participate in
Otis Simpson,
request for OMB approval. All subcommittees that channel their
feedback to the IRS through the Panel’s Acting Director, Taxpayer Advocacy Panel.
comments will become a matter of
parent committee. [FR Doc. 2015–05999 Filed 3–16–15; 8:45 am]
public record. Comments are invited on:
(a) Whether the collection of The IRS is seeking applicants who BILLING CODE P

information is necessary for the proper have an interest in good government, a
performance of the functions of the personal commitment to volunteer
approximately 200 to 300 hours a year, DEPARTMENT OF THE TREASURY
agency, including whether the
information shall have practical utility; and a desire to help improve IRS
customer service. To the extent possible, Internal Revenue Service
(b) the accuracy of the agency’s estimate
of the burden of the collection of the TAP Director will ensure that TAP Proposed Collection; Comment
information; (c) ways to enhance the membership is balanced and represents Request
quality, utility, and clarity of the a cross-section of the taxpaying public
information to be collected; (d) ways to with at least one member from each AGENCY: Internal Revenue Service (IRS),
minimize the burden of the collection of state, the District of Columbia and Treasury.
information on respondents, including Puerto Rico, in addition to one member ACTION: Notice and request for
through the use of automated collection abroad representing international comments.
techniques or other forms of information taxpayers. Potential candidates must be
U.S. citizens and must pass an IRS tax SUMMARY: The Department of the
technology; and (e) estimates of capital
compliance check and a Federal Bureau Treasury, as part of its continuing effort
or start-up costs and costs of operation,
of Investigation background to reduce paperwork and respondent
maintenance, and purchase of services
investigation. Federally-registered burden, invites the general public and
to provide information.
lobbyists cannot be members of the other Federal agencies to take this
Approved: March 10, 2015. TAP. opportunity to comment on proposed
Christie Preston, TAP members are a diverse group of and/or continuing information
IRS Reports Clearance Officer. citizens who represent the interests of collections, as required by the
[FR Doc. 2015–06070 Filed 3–16–15; 8:45 am] taxpayers from their respective Paperwork Reduction Act of 1995,
BILLING CODE 4830–01–P geographic locations, as well as Public Law 104–13 (44 U.S.C.
taxpayers as a whole, by providing 3506(c)(2)(A)). Currently, the IRS is
feedback from a taxpayer’s perspective soliciting comments concerning
DEPARTMENT OF THE TREASURY on ways to improve IRS customer guidance regarding the treatment of
service and administration of the federal certain contingent payment debt
Internal Revenue Service tax system, and by identifying grassroots instructions with one or more payments
taxpayer issues. Members should have that are denominated in, or determined
Recruitment Notice for the Taxpayer good communication skills and be able by reference to, a nonfunctional
Advocacy Panel; Correction to speak with taxpayers about the TAP currency.
AGENCY: Internal Revenue Service (IRS), and TAP activities, while clearly DATES: Written comments should be
Treasury. distinguishing between TAP positions
received on or before May 18, 2015 to
and their personal viewpoints.
ACTION: Notice; correction. be assured of consideration.
Interested applicants should visit the
TAP Web site at www.improveirs.org for ADDRESSES: Direct all written comments
SUMMARY: In the Federal Register notice to Christie Preston, Internal Revenue
that was originally published on March more information about the TAP. To
complete an application, visit Service, room 6129, 1111 Constitution
9, 2015, (80 FR 12549) the application Avenue NW., Washington, DC 20224.
period is incorrect. The application www.usajobs.gov. The opening date for
submitting applications is March 9, FOR FURTHER INFORMATION CONTACT:
period should be from March 9, 2015,
2015, and the deadline for submitting Requests for additional information or
through April 20, 2015. Notice of Open
applications is April 20, 2015. copies of the form and instructions
Season for Recruitment of IRS Taxpayer
Interviews may be held. The should be directed to Sara Covington, at
Advocacy Panel (TAP) Members.
Department of the Treasury will review Internal Revenue Service, room 6129,
DATES: March 9, 2015, through April 20, 1111 Constitution Avenue NW.,
the recommended candidates and make
2015. Washington, DC 20224, or through the
final selections. New TAP members will
FOR FURTHER INFORMATION CONTACT: Lisa serve a three-year term starting in internet at Sara.L.Covington@irs.gov.
Billups at 214–413–6523 (not a toll-free
mstockstill on DSK4VPTVN1PROD with NOTICES

December 2015. (Note: highly-ranked SUPPLEMENTARY INFORMATION:
call) applicants not selected as members may Title: Guidance Regarding the
SUPPLEMENTARY INFORMATION: Notice is be placed on a roster of alternates who Treatment of Certain Contingent
hereby given that the Department of the will be eligible to fill future vacancies Payment Debt Instructions with one or
Treasury and the Internal Revenue that may occur on the Panel.) more Payments that are Denominated
Service (IRS) are inviting individuals to Interested applicants can call the TAP in, or Determined by Reference to, a
help improve the nation’s tax agency by toll-free number, 1–888–912–1227, if Nonfunctional Currency.
applying to be members of the Taxpayer they have general questions about TAP OMB Number: 1545–1831.

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Federal Register / Vol. 80, No. 51 / Tuesday, March 17, 2015 / Notices 13953

Form Number: REG–106486–98 (TD Approved: March 9, 2015. Estimated Total Burden Hours: 3,275.
9157—Final). Christie Preston,
Robert Dahl,
Abstract: This document contains IRS Reports Clearance Officer.
Treasury PRA Clearance Officer.
final regulations regarding the treatment [FR Doc. 2015–06003 Filed 3–16–15; 8:45 am]
[FR Doc. 2015–06004 Filed 3–16–15; 8:45 am]
of contingent payment debt instruments BILLING CODE 4830–01–P
for which one or more payments are BILLING CODE 4810–25–P

denominated in, or determined by
reference to, a currency other than the DEPARTMENT OF THE TREASURY DEPARTMENT OF THE TREASURY
taxpayer’s functional currency. These
regulations are necessary because Submission for OMB Review; Internal Revenue Service
current regulations do not provide Comment Request
guidance concerning the tax treatment Proposed Collection; Comment
March 11, 2015.
of such instruments. The regulations Request for Form 8845
affect issuers and holders of such The Department of the Treasury will
instruments. submit the following information AGENCY: Internal Revenue Service (IRS),
Current Actions: There is no change collection request to the Office of Treasury.
in the paperwork burden previously Management and Budget (OMB) for ACTION: Notice and request for
approved by OMB. This form is being review and clearance in accordance comments.
submitted for renewal purposes only. with the Paperwork Reduction Act of
SUMMARY: The Department of the
Type of Review: Extension of a 1995, Public Law 104–13, on or after the
Treasury, as part of its continuing effort
currently approved collection. date of publication of this notice.
to reduce paperwork and respondent
Affected Public: Businesses and other DATES: Comments should be received on burden, invites the general public and
for-profit organizations, Farms. or before April 16, 2015 to be assured other Federal agencies to take this
Estimated Number of Respondents: of consideration. opportunity to comment on proposed
100. and/or continuing information
Estimated Time per Respondent: 1 ADDRESSES: Send comments regarding
the burden estimate, or any other aspect collections, as required by the
hour. Paperwork Reduction Act of 1995,
Estimated Total Annual Burden of the information collection, including
suggestion for reducing the burden, to Public Law 104–13 (44 U.S.C.
Hours: 100. 3506(c)(2)(A)). Currently, the IRS is
The following paragraph applies to all (1) Office of Information and Regulatory
Affairs, Office of Management and soliciting comments concerning Form
of the collections of information covered 8845, Indian Employment Credit.
by this notice: Budget, Attention: Desk Officer for
Treasury, New Executive Office DATES: Written comments should be
An agency may not conduct or received on or before May 18, 2015 to
Building, Room 10235, Washington, DC
sponsor, and a person is not required to be assured of consideration.
20503, or email at OIRA_Submission@
respond to, a collection of information ADDRESSES: Direct all written comments
OMB.EOP.GOV and (2) Treasury PRA
unless the collection of information to Christie Preston, Internal Revenue
Clearance Officer, 1750 Pennsylvania
displays a valid OMB control number. Service, Room 6129, 1111 Constitution
Ave. NW., Suite 8140, Washington, DC
Books or records relating to a collection Avenue NW., Washington, DC 20224.
20220, or email at PRA@treasury.gov.
of information must be retained as long
FOR FURTHER INFORMATION CONTACT:
as their contents may become material FOR FURTHER INFORMATION CONTACT:
Requests for additional information or
in the administration of any internal Copies of the submission(s) may be
copies of the form and instructions
revenue law. Generally, tax returns and obtained by calling (202) 927–5331,
should be directed to Allan Hopkins,
tax return information are confidential, email at PRA@treasury.gov, or the entire
Internal Revenue Service, Room 6129,
as required by 26 U.S.C. 6103. information collection request maybe
1111 Constitution Avenue NW.,
Request for Comments: Comments found at www.reginfo.gov.
Washington, DC 20224, or through the
submitted in response to this notice will internet at Allan.M.Hopkins@irs.gov.
Departmental Offices (DO)
be summarized and/or included in the
SUPPLEMENTARY INFORMATION: Title:
request for OMB approval. All OMB Number: 1505–XXXX.
comments will become a matter of Indian Employment Credit.
Type of Review: New Collection. OMB Number: 1545–1417.
public record. Comments are invited on: Form Number: 8845.
Title: My Classroom Economy Study
(a) Whether the collection of Abstract: Under Internal Revenue
information is necessary for the proper Abstract: The U.S. Department of the
Code section 45A, employers can claim
performance of the functions of the Treasury requests OMB approval of an
an income tax credit for hiring
agency, including whether the information collection with four
American Indians or their spouses to
information shall have practical utility; components that will be used to gather
work in a trade or business on an Indian
(b) the accuracy of the agency’s estimate information from youth, their parents,
reservation. Form 8845 is used by
of the burden of the collection of and teachers who are participating in a
employers to claim the credit and by
information; (c) ways to enhance the classroom-based financial capability
IRS to ensure that the credit is
quality, utility, and clarity of the intervention called ‘‘My Classroom
computed correctly.
information to be collected; (d) ways to Economy’’ that is being studied and
Current Actions: There are no changes
evaluated by the U. S. Treasury. This
mstockstill on DSK4VPTVN1PROD with NOTICES

minimize the burden of the collection of being made to the Form 8845 at this
information on respondents, including research will inform the Federal
time.
through the use of automated collection Financial Literacy and Education Type of Review: Extension of a
techniques or other forms of information Commission (FLEC) and Treasury currently approved collection.
technology; and (e) estimates of capital officials on strategies for providing Affected Public: Businesses or other
or start-up costs and costs of operation, financial education to students during for-profit organizations.
maintenance, and purchase of services the school day. Estimated Number of Respondents:
to provide information. Affected Public: Individuals. 822.

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Document Created: 2015-12-18 12:01:52
Document Modified: 2015-12-18 12:01:52

Category		Regulatory Information
Collection		Federal Register
sudoc Class		AE 2.7: GS 4.107: AE 2.106:
Publisher		Office of the Federal Register, National Archives and Records Administration
Section		Notices
Action		Notice and request for comments.
Dates		Written comments should be received on or before May 18, 2015 to be assured of consideration.
Contact		Requests for additional information or copies of the form and instructions should be directed to Sara Covington, at Internal Revenue Service, room 6129, 1111 Constitution Avenue NW., Washington, DC 20224, or through the internet at [email protected]
FR Citation		80 FR 13952

80 FR 13952 - Proposed Collection; Comment Request

DEPARTMENT OF THE TREASURYInternal Revenue Service

Federal Register Volume 80, Issue 51 (March 17, 2015)

DEPARTMENT OF THE TREASURY
Internal Revenue Service