80 FR 50716 - Proposed Collection; Comment Request for Regulation Project
DEPARTMENT OF THE TREASURY
Internal Revenue Service Federal Register Volume 80, Issue 161 (August 20, 2015)
Internal Revenue Service
Federal Register Volume 80, Issue 161 (August 20, 2015)
| Page Range | 50716-50717 | |
| FR Document | 2015-20566 |
[Federal Register Volume 80, Number 161 (Thursday, August 20, 2015)] [Notices] [Pages 50716-50717] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2015-20566] ----------------------------------------------------------------------- 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, Pub. L. 104-13 (44 U.S.C. 3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning information collection requirements related to Clear Reflection of Income in the Case of Hedging. DATES: Written comments should be received on or before October 19, 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 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: Section 108 Reduction of Tax Attributes for S Corporations. OMB Number: 1545-2155. Regulation Project Number: REG-102822-08 (TD 9469). Abstract: This final regulation provides guidance on the manner in which an S corporation reduce its tax attributes under section 108(b) for taxable years in which the S corporation has discharge of indebtedness income that is excluded from gross income under section 108(a). In particular, the regulations address situations in which the aggregate amount of the shareholders' disallowed section 1366(d) losses and deductions that are treated as a net operating loss tax attribute of the S corporation exceeds the amount of the S corporation's excluded discharge of indebtedness income. The regulations affect S corporations and their shareholders. 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: 1,000. Estimated Time per Respondent: 1 hour. Estimated Total Annual Burden Hours: 1,000. [[Page 50717]] 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: August 12, 2015. Allan Hopkins, IRS Reports Clearance Officer. [FR Doc. 2015-20566 Filed 8-19-15; 8:45 am] BILLING CODE 4830-01-P
![50716 Federal Register / Vol. 80, No. 161 / Thursday, August 20, 2015 / Notices
DEPARTMENT OF THE TREASURY Current Actions: There is no change to Notice and request for
ACTION:
the total burden of these final comments.
Internal Revenue Service regulations.
Type of Review: Extension of a SUMMARY: The Department of the
Proposed Collection; Comment currently approved collection. Treasury, as part of its continuing effort
Request for Regulation Project to reduce paperwork and respondent
Affected Public: Business or other for-
burden, invites the general public and
AGENCY: Internal Revenue Service (IRS), profit organizations.
other Federal agencies to take this
Treasury. Estimated Number of Respondents: opportunity to comment on proposed
ACTION: Notice and request for 52,049. and/or continuing information
comments. Estimated Time per Respondent: 22 collections, as required by the
minutes. Paperwork Reduction Act of 1995, Pub.
SUMMARY: The Department of the Estimated Total Annual Burden L. 104–13 (44 U.S.C. 3506(c)(2)(A)).
Treasury, as part of its continuing effort Hours: 18,600. Currently, the IRS is soliciting
to reduce paperwork and respondent The following paragraph applies to all comments concerning information
burden, invites the general public and of the collections of information covered collection requirements related to Clear
other Federal agencies to take this by this notice. Reflection of Income in the Case of
opportunity to comment on proposed An agency may not conduct or Hedging.
and/or continuing information sponsor, and a person is not required to
collections, as required by the DATES: Written comments should be
respond to, a collection of information received on or before October 19, 2015
Paperwork Reduction Act of 1995, unless the collection of information
Public Law 104–13 (44 U.S.C. to be assured of consideration.
displays a valid OMB control number.
3506(c)(2)(A)). Currently, the IRS is ADDRESSES: Direct all written comments
Books or records relating to a collection
soliciting comments concerning an to Christie Preston, Internal Revenue
of information must be retained as long
existing final regulation, CO–30–92 (TD Service, Room 6129, 1111 Constitution
as their contents may become material
8560), Consolidated Returns—Stock Avenue NW., Washington, DC 20224.
in the administration of any internal
Basis and Excess Loss Accounts, revenue law. Generally, tax returns and FOR FURTHER INFORMATION CONTACT:
earnings and Profits, Absorption of tax return information are confidential, Requests for additional information or
Deductions and Losses, Joining and as required by 26 U.S.C. 6103. copies of the form and instructions
Leaving Consolidated Groups, should be directed to LaNita Van Dyke,
Request For Comments: Comments
Worthless Stock Loss, Nonapplicability Internal Revenue Service, Room 6517,
submitted in response to this notice will
of Section 357(c), (§§ 1.1502–31, 1111 Constitution Avenue NW.,
be summarized and/or included in the
1.1502–32, 1.1502–33, 1.1502–76). Washington, DC 20224, or through the
request for OMB approval. All
DATES: Written comments should be internet at LaNita.VanDyke@irs.gov.
comments will become a matter of
received on or before October 19, 2015 SUPPLEMENTARY INFORMATION:
public record. Comments are invited on:
to be assured of consideration. Title: Section 108 Reduction of Tax
(a) Whether the collection of
ADDRESSES: Direct all written comments Attributes for S Corporations.
information is necessary for the proper
to Christie Preston, Internal Revenue OMB Number: 1545–2155.
performance of the functions of the Regulation Project Number: REG–
Service, Room 6129, 1111 Constitution agency, including whether the 102822–08 (TD 9469).
Avenue NW., Washington, DC 20224. information shall have practical utility; Abstract: This final regulation
FOR FURTHER INFORMATION CONTACT: (b) the accuracy of the agency’s estimate provides guidance on the manner in
Requests for additional information or of the burden of the collection of which an S corporation reduce its tax
copies of this regulation should be information; (c) ways to enhance the attributes under section 108(b) for
directed to LaNita Van Dyke, Internal quality, utility, and clarity of the taxable years in which the S corporation
Revenue Service, Room 6517, 1111 information to be collected; (d) ways to has discharge of indebtedness income
Constitution Avenue NW., Washington, minimize the burden of the collection of that is excluded from gross income
DC 20224, or through the internet at information on respondents, including under section 108(a). In particular, the
Lanita.VanDyke@irs.gov. through the use of automated collection regulations address situations in which
SUPPLEMENTARY INFORMATION: techniques or other forms of information the aggregate amount of the
Title: Consolidated Returns-Stock technology; and (e) estimates of capital shareholders’ disallowed section
Basis and Excess Loss Accounts, or start-up costs and costs of operation, 1366(d) losses and deductions that are
Earnings and Profits, Absorption of maintenance, and purchase of services treated as a net operating loss tax
Deductions and Losses, Joining and to provide information. attribute of the S corporation exceeds
Leaving Consolidated Groups, Approved: August 12, 2015. the amount of the S corporation’s
Worthless Stock Loss, Non applicability Allan Hopkins, excluded discharge of indebtedness
of Section 357(c). income. The regulations affect S
IRS Reports Clearance Officer.
OMB Number: 1545–1344. corporations and their shareholders.
Regulation Project Number: CO–30– [FR Doc. 2015–20565 Filed 8–19–15; 8:45 am]
Current Actions: There is no change to
92, (TD 8560)(final). BILLING CODE 4830–01P
this existing regulation.
Abstract: These regulations amend the Type of Review: Extension of a
consolidated return investment currently approved collection.
adjustment system, including the rules DEPARTMENT OF THE TREASURY
Affected Public: Business or other for-
tkelley on DSK3SPTVN1PROD with NOTICES
for earnings and profits and excess loss profit organizations.
accounts. In addition, the regulations Internal Revenue Service
Estimated Number of Respondents:
provide special rules for allocating Proposed Collection; Comment 1,000.
consolidated income tax liability among Request for Regulation Project Estimated Time per Respondent: 1
members and modify the method for hour.
allocating income when a corporation AGENCY: Internal Revenue Service (IRS), Estimated Total Annual Burden
enters or leaves a consolidated group. Treasury. Hours: 1,000.
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![Federal Register / Vol. 80, No. 161 / Thursday, August 20, 2015 / Notices 50717
The following paragraph applies to all comments concerning Notice 2006–47, tax return information are confidential,
of the collections of information covered Elections Created of Effected by the as required by 26 U.S.C. 6103.
by this notice: American Jobs Creation Act of 2004. Request For Comments: Comments
An agency may not conduct or DATES: Written comments should be submitted in response to this notice will
sponsor, and a person is not required to received on or before October 19, 2015 be summarized and/or included in the
respond to, a collection of information to be assured of consideration. request for OMB approval. All
unless the collection of information ADDRESSES: Direct all written comments comments will become a matter of
displays a valid OMB control number. to Christie Preston, Internal Revenue public record. Comments are invited on:
Books or records relating to a collection Service, Room 6129, 1111 Constitution (a) Whether the collection of
of information must be retained as long Avenue NW., Washington, DC 20224. information is necessary for the proper
as their contents may become material performance of the functions of the
FOR FURTHER INFORMATION CONTACT:
in the administration of any internal agency, including whether the
revenue law. Generally, tax returns and Requests for additional information or
information shall have practical utility;
tax return information are confidential, copies of notice should be directed to
(b) the accuracy of the agency’s estimate
as required by 26 U.S.C. 6103. LaNita Van Dyke, or at Internal Revenue
of the burden of the collection of
Request for Comments: Comments Service, Room 6517, 1111 Constitution
information; (c) ways to enhance the
submitted in response to this notice will Avenue NW., Washington, DC 20224, or
quality, utility, and clarity of the
be summarized and/or included in the through the internet, at
information to be collected; (d) ways to
request for OMB approval. All Lanita.VanDyke@irs.gov.
minimize the burden of the collection of
comments will become a matter of SUPPLEMENTARY INFORMATION: information on respondents, including
public record. Comments are invited on: Title: Elections Created or Effected by through the use of automated collection
(a) Whether the collection of the American Jobs Creation Act of 2004. techniques or other forms of information
information is necessary for the proper OMB Number: 1545–1986. technology; and (e) estimates of capital
performance of the functions of the Notice Number: Notice 2006–47.
or start-up costs and costs of operation,
agency, including whether the Abstract: The American Jobs Creation
maintenance, and purchase of services
information shall have practical utility; Act of 2004, Pub. L. 108–357, 118 Stat.
to provide information.
(b) the accuracy of the agency’s estimate 1418 (the Act), created various elections
and permits taxpayers to revoke certain Approved: August 12, 2015.
of the burden of the collection of
elections that are currently in effect in Allan Hopkins,
information; (c) ways to enhance the
quality, utility, and clarity of the light of changes made by the Act. The IRS Reports Clearance Officer.
information to be collected; (d) ways to collection of information is necessary to [FR Doc. 2015–20567 Filed 8–19–15; 8:45 am]
minimize the burden of the collection of inform the Internal Revenue Service that BILLING CODE 4830–01–P
information on respondents, including an election is being made or revoked.
through the use of automated collection This notice will enable the Internal
techniques or other forms of information Revenue Service to ensure that the DEPARTMENT OF THE TREASURY
technology; and (e) estimates of capital eligibility requirements for the various
elections or revocations have been Internal Revenue Service
or start-up costs and costs of operation,
maintenance, and purchase of services satisfied; verify that the requisite
computations, allocations, etc. have Proposed Collection; Comment
to provide information. Request for Form W–8CE
been made correctly; and appropriately
Approved: August 12, 2015. monitor whether any required collateral AGENCY: Internal Revenue Service (IRS),
Allan Hopkins, actions relating to the elections or Treasury.
IRS Reports Clearance Officer. revocations have been complied with. ACTION: Notice and request for
[FR Doc. 2015–20566 Filed 8–19–15; 8:45 am] Current Actions: There are no changes comments.
BILLING CODE 4830–01–P being made to the notice at this time.
Type of Review: Extension of a SUMMARY: The Department of the
currently approved collection. Treasury, as part of its continuing effort
DEPARTMENT OF THE TREASURY Affected Public: Business or other for- to reduce paperwork and respondent
profit organizations, and not-for-profit burden, invites the general public and
Internal Revenue Service institutions. other Federal agencies to take this
Estimated Number of Respondents: opportunity to comment on proposed
Proposed Collection; Comment 150,000.
Request for Notice 2006–47 and/or continuing information
Estimated Average Time per collections, as required by the
AGENCY: Internal Revenue Service (IRS), Respondent: 5 min. Paperwork Reduction Act of 1995,
Treasury. Estimated Total Annual Burden Public Law 104–13 (44 U.S.C.
ACTION: Notice and request for Hours: 12,765. 3506(c)(2)(A)). Currently, the IRS is
comments. The following paragraph applies to all soliciting comments concerning Form
of the collections of information covered W–8CE, Notice of Expatriation and
SUMMARY: The Department of the by this notice: Waiver of Treaty Benefits.
Treasury, as part of its continuing effort An agency may not conduct or
DATES: Written comments should be
to reduce paperwork and respondent sponsor, and a person is not required to
burden, invites the general public and respond to, a collection of information received on or before October 19, 2015
to be assured of consideration.
tkelley on DSK3SPTVN1PROD with NOTICES
other Federal agencies to take this unless the collection of information
opportunity to comment on proposed displays a valid OMB control number. ADDRESSES: Direct all written comments
and/or continuing information Books or records relating to a collection to Christie Preston, Internal Revenue
collections, as required by the of information must be retained as long Service, Room 6129, 1111 Constitution
Paperwork Reduction Act of 1995, Pub. as their contents may become material Avenue NW., Washington, DC 20224.
L. 104–13 (44 U.S.C. 3506(c)(2)(A)). in the administration of any internal FOR FURTHER INFORMATION CONTACT:
Currently, the IRS is soliciting revenue law. Generally, tax returns and Requests for additional information or
VerDate Sep<11>2014 17:31 Aug 19, 2015 Jkt 235001 PO 00000 Frm 00123 Fmt 4703 Sfmt 4703 E:\FR\FM\20AUN1.SGM 20AUN1](https://thefederalregister.org/doc/80_FR_50877/page/2.svg)
Document Created: 2015-12-15 11:08:34
Document Modified: 2015-12-15 11:08:34
| 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 October 19, 2015 to be assured of consideration. | |
| Contact | Requests for additional information or copies of the form and instructions 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 50716 |
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