80 FR 37364 - Proposed Collection; Comment Request for Regulation Project
DEPARTMENT OF THE TREASURY
Internal Revenue Service Federal Register Volume 80, Issue 125 (June 30, 2015)
Internal Revenue Service
Federal Register Volume 80, Issue 125 (June 30, 2015)
| Page Range | 37364-37364 | |
| FR Document | 2015-16055 |
[Federal Register Volume 80, Number 125 (Tuesday, June 30, 2015)] [Notices] [Page 37364] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2015-16055] ----------------------------------------------------------------------- DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Regulation Project 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 an existing final regulation, PS-105-75 (TD 8348), Limitations on Percentage Depletion in the Case of Oil and Gas Wells (Section 1.613A- 3(l)). DATES: Written comments should be received on or before August 31, 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 regulation should be directed to LaNita Van Dyke, Internal Revenue Service, room 6517, 1111 Constitution Avenue NW., Washington, DC 20224, or through the internet, at [email protected]. SUPPLEMENTARY INFORMATION: Title: Limitations on Percentage Depletion in the Case of Oil and Gas Wells. OMB Number: 1545-0919. Regulation Project Number: PS-105-75 (TD 8348). Abstract: Section 1.613A-3(1) of the regulation requires each partner to separately keep records of his or her share of the adjusted basis of partnership oil and gas property and requires each partnership, trust, estate, and operator to provide to certain persons the information necessary to compute depletion with respect to oil or gas. 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. The burden associated with this collection of information is reflected on Forms 1065, 1041, and 706. 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: June 22, 2015. Christie Preston, IRS Reports Clearance Officer. [FR Doc. 2015-16055 Filed 6-29-15; 8:45 am] BILLING CODE 4830-01-P
![37364 Federal Register / Vol. 80, No. 125 / Tuesday, June 30, 2015 / Notices
should be directed to LaNita Van Dyke, information on respondents, including Abstract: Section 1.613A–3(1) of the
Internal Revenue Service, Room 6517, through the use of automated collection regulation requires each partner to
1111 Constitution Avenue NW., techniques or other forms of information separately keep records of his or her
Washington, DC 20224, or through the technology; and (e) estimates of capital share of the adjusted basis of
Internet at LaNita.VanDyke@irs.gov. or start-up costs and costs of operation, partnership oil and gas property and
SUPPLEMENTARY INFORMATION: maintenance, and purchase of services requires each partnership, trust, estate,
Title: Clear Reflection of Income in to provide information. and operator to provide to certain
the Case of Hedging Transactions. Approved: June 22, 2015, persons the information necessary to
OMB Number: 1545–1412. Christie Preston,
compute depletion with respect to oil or
Regulation Project Number: FI–54–93 gas.
IRS Reports Clearance Officer.
(TD 8554). Current Actions: There is no change to
[FR Doc. 2015–16057 Filed 6–29–15; 8:45 am]
Abstract: This regulation provides this existing regulation.
BILLING CODE 4830–01–P
guidance to taxpayers regarding when Type of Review: Extension of a
gain or loss from common business currently approved collection.
hedging transactions is recognized for DEPARTMENT OF THE TREASURY Affected Public: Business or other for-
tax purposes and requires that the books profit organizations.
and records maintained by a taxpayer Internal Revenue Service The burden associated with this
disclose the method or methods used to collection of information is reflected on
account for different types of hedging Proposed Collection; Comment Forms 1065, 1041, and 706.
transactions. Request for Regulation Project The following paragraph applies to all
Current Actions: There is no change to of the collections of information covered
this existing regulation. AGENCY: Internal Revenue Service (IRS),
Treasury. by this notice:
Type of Review: Extension of a An agency may not conduct or
currently approved collection. ACTION: Notice and request for
sponsor, and a person is not required to
Affected Public: Business or other for- comments.
respond to, a collection of information
profit organizations. unless the collection of information
SUMMARY: The Department of the
Estimated Number of Respondents: displays a valid OMB control number.
Treasury, as part of its continuing effort
110,000. Books or records relating to a collection
Estimated Time per Respondent: 12 to reduce paperwork and respondent
burden, invites the general public and of information must be retained as long
minutes. as their contents may become material
Estimated Total Annual Burden other Federal agencies to take this
opportunity to comment on proposed in the administration of any internal
Hours: 22,000. revenue law. Generally, tax returns and
and/or continuing information
The following paragraph applies to all collections, as required by the tax return information are confidential,
of the collections of information covered Paperwork Reduction Act of 1995, as required by 26 U.S.C. 6103.
by this notice: Public Law 104–13 (44 U.S.C. Request For Comments: Comments
An agency may not conduct or 3506(c)(2)(A)). Currently, the IRS is submitted in response to this notice will
sponsor, and a person is not required to soliciting comments concerning an be summarized and/or included in the
respond to, a collection of information existing final regulation, PS–105–75 (TD request for OMB approval. All
unless the collection of information 8348), Limitations on Percentage comments will become a matter of
displays a valid OMB control number. Depletion in the Case of Oil and Gas public record. Comments are invited on:
Books or records relating to a collection Wells (Section 1.613A–3(l)). (a) Whether the collection of
of information must be retained as long information is necessary for the proper
DATES: Written comments should be
as their contents may become material performance of the functions of the
in the administration of any internal received on or before August 31, 2015
to be assured of consideration. agency, including whether the
revenue law. Generally, tax returns and information shall have practical utility;
tax return information are confidential, ADDRESSES: Direct all written comments
to Christie Preston, Internal Revenue (b) the accuracy of the agency’s estimate
as required by 26 U.S.C. 6103. of the burden of the collection of
Request For Comments: Comments Service, Room 6129, 1111 Constitution
Avenue NW., Washington, DC 20224. information; (c) ways to enhance the
submitted in response to this notice will quality, utility, and clarity of the
be summarized and/or included in the FOR FURTHER INFORMATION CONTACT:
information to be collected; (d) ways to
request for OMB approval. All Requests for additional information or minimize the burden of the collection of
comments will become a matter of copies of the regulation should be information on respondents, including
public record. Comments are invited on: directed to LaNita Van Dyke, Internal through the use of automated collection
(a) Whether the collection of Revenue Service, room 6517, 1111 techniques or other forms of information
information is necessary for the proper Constitution Avenue NW., Washington, technology; and (e) estimates of capital
performance of the functions of the DC 20224, or through the internet, at or start-up costs and costs of operation,
agency, including whether the LaNita.VanDyke@irs.gov. maintenance, and purchase of services
information shall have practical utility; SUPPLEMENTARY INFORMATION: to provide information.
(b) the accuracy of the agency’s estimate Title: Limitations on Percentage
of the burden of the collection of Approved: June 22, 2015.
Depletion in the Case of Oil and Gas
asabaliauskas on DSK5VPTVN1PROD with NOTICES
information; (c) ways to enhance the Wells. Christie Preston,
quality, utility, and clarity of the OMB Number: 1545–0919. IRS Reports Clearance Officer.
information to be collected; (d) ways to Regulation Project Number: PS–105– [FR Doc. 2015–16055 Filed 6–29–15; 8:45 am]
minimize the burden of the collection of 75 (TD 8348). BILLING CODE 4830–01–P
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Document Created: 2018-02-22 11:16:59
Document Modified: 2018-02-22 11:16:59
| 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 August 31, 2015 to be assured of consideration. | |
| Contact | Requests for additional information or copies of the regulation should be directed to LaNita Van Dyke, Internal Revenue Service, room 6517, 1111 Constitution Avenue NW., Washington, DC 20224, or through the internet, at [email protected] | |
| FR Citation | 80 FR 37364 |
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