80 FR 70883 - Proposed Collection; Comment Request for Form 6781

DEPARTMENT OF THE TREASURY
Internal Revenue Service

Federal Register Volume 80, Issue 220 (November 16, 2015)

Page Range		70883-70883
FR Document		2015-28907

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 Form 6781, Gains and Losses From Section 1256 Contracts and Straddles.

Federal Register, Volume 80 Issue 220 (Monday, November 16, 2015)

[Federal Register Volume 80, Number 220 (Monday, November 16, 2015)]
[Notices]
[Page 70883]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-28907]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Form 6781

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

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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 
Form 6781, Gains and Losses From Section 1256 Contracts and Straddles.

DATES: Written comments should be received on or before January 15, 
2016 to be assured of consideration.

ADDRESSES: Direct all written comments to Michael A. Joplin, 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 
Sara.L.Covington@irs.gov.

SUPPLEMENTARY INFORMATION: 
    Title: Gains and Losses From Section 1256 Contracts and Straddles.
    OMB Number: 1545-0644.
    Form Number: Form 6781.
    Abstract: Form 6781 is used by taxpayers in computing their gains 
and losses on Internal Revenue Code section 1256 contracts under the 
marked-to-market rules and gains and losses under Code section 1092 
from straddle positions. The data is used to verify that the tax 
reported accurately reflects any such gains and losses.
    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: Business or other for-profit organizations and 
individuals.
    Estimated Number of Respondents: 100,000.
    Estimated Time per Respondent: 9 hours, 2 minutes.
    Estimated Total Annual Burden Hours: 903,237.
    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: October 28, 2015.
Michael A. Joplin,
IRS Supervisory Tax Analyst.
[FR Doc. 2015-28907 Filed 11-13-15; 8:45 am]
BILLING CODE 4830-01-P

Federal Register / Vol. 80, No. 220 / Monday, November 16, 2015 / Notices 70883

Request For Comments: Comments should be directed to Sara Covington at technology; and (e) estimates of capital
submitted in response to this notice will Internal Revenue Service, room 6129, or start-up costs and costs of operation,
be summarized and/or included in the 1111 Constitution Avenue NW., maintenance, and purchase of services
request for OMB approval. All Washington, DC 20224, or through the to provide information.
comments will become a matter of internet at Sara.L.Covington@irs.gov. Approved: October 28, 2015.
public record. SUPPLEMENTARY INFORMATION: Michael A. Joplin,
Comments are invited on: (a) Whether Title: Gains and Losses From Section IRS Supervisory Tax Analyst.
the collection of information is 1256 Contracts and Straddles. [FR Doc. 2015–28907 Filed 11–13–15; 8:45 am]
necessary for the proper performance of OMB Number: 1545–0644. BILLING CODE 4830–01–P
the functions of the agency, including Form Number: Form 6781.
whether the information shall have Abstract: Form 6781 is used by
practical utility; (b) the accuracy of the taxpayers in computing their gains and DEPARTMENT OF THE TREASURY
agency’s estimate of the burden of the losses on Internal Revenue Code section
collection of information; (c) ways to 1256 contracts under the marked-to- Internal Revenue Service
enhance the quality, utility, and clarity market rules and gains and losses under
of the information to be collected; (d) Code section 1092 from straddle Proposed Collection; Comment
ways to minimize the burden of the positions. The data is used to verify that Request for Schedule C–EZ (Form
collection of information on the tax reported accurately reflects any 1040)
respondents, including through the use such gains and losses. AGENCY: Internal Revenue Service (IRS),
of automated collection techniques or Current Actions: There is no change Treasury.
other forms of information technology; in the paperwork burden previously ACTION: Notice and request for
and (e) estimates of capital or start-up approved by OMB. This form is being
costs and costs of operation, comments.
submitted for renewal purposes only.
maintenance, and purchase of services Type of Review: Extension of a SUMMARY: The Department of the
to provide information. currently approved collection. Treasury, as part of its continuing effort
Approved: November 6, 2015. Affected Public: Business or other for- to reduce paperwork and respondent
Michael Joplin, profit organizations and individuals. burden, invites the general public and
IRS Supervisory Tax Analyst. Estimated Number of Respondents: other Federal agencies to take this
[FR Doc. 2015–28903 Filed 11–13–15; 8:45 am]
100,000. opportunity to comment on proposed
Estimated Time per Respondent: 9 and/or continuing information
BILLING CODE 4830–01–P
hours, 2 minutes. collections, as required by the
Estimated Total Annual Burden Paperwork Reduction Act of 1995,
DEPARTMENT OF THE TREASURY Hours: 903,237. Public Law 104–13 (44 U.S.C.
The following paragraph applies to all 3506(c)(2)(A)). Currently, the IRS is
Internal Revenue Service of the collections of information covered soliciting comments concerning
by this notice: Schedule C–EZ (Form 1040), Net Profit
Proposed Collection; Comment An agency may not conduct or From Business.
Request for Form 6781 sponsor, and a person is not required to DATES: Written comments should be
respond to, a collection of information received on or before January 15, 2016
AGENCY: Internal Revenue Service (IRS),
unless the collection of information to be assured of consideration.
Treasury.
displays a valid OMB control number. ADDRESSES: Direct all written comments
ACTION: Notice and request for Books or records relating to a collection to Michael Joplin, Internal Revenue
comments. of information must be retained as long Service, room 6129, 1111 Constitution
SUMMARY: The Department of the as their contents may become material Avenue NW., Washington, DC 20224.
Treasury, as part of its continuing effort in the administration of any internal FOR FURTHER INFORMATION CONTACT:
to reduce paperwork and respondent revenue law. Generally, tax returns and Requests for additional information or
burden, invites the general public and tax return information are confidential, copies of the form and instructions
other Federal agencies to take this as required by 26 U.S.C. 6103. should be directed to Sara Covington, at
opportunity to comment on proposed Request for Comments: Comments Internal Revenue Service, room 6129,
and/or continuing information submitted in response to this notice will 1111 Constitution Avenue NW.,
collections, as required by the be summarized and/or included in the Washington, DC 20224, or through the
Paperwork Reduction Act of 1995, request for OMB approval. All internet at Sara.L.Covington@irs.gov.
Public Law 104–13(44 U.S.C. comments will become a matter of SUPPLEMENTARY INFORMATION:
3506(c)(2)(A)). Currently, the IRS is public record. Comments are invited on: Title: Net Profit From Business (Sole
soliciting comments concerning Form (a) Whether the collection of Proprietorship).
6781, Gains and Losses From Section information is necessary for the proper OMB Number: 1545–1973.
1256 Contracts and Straddles. performance of the functions of the Form Number: Schedule C–EZ (Form
agency, including whether the 1040).
DATES: Written comments should be
information shall have practical utility; Abstract: Schedule C–EZ (Form 1040)
received on or before January 15, 2016 (b) the accuracy of the agency’s estimate is used by individuals to report their
to be assured of consideration. of the burden of the collection of Business Income. The data is used to
ADDRESSES: Direct all written comments
tkelley on DSK3SPTVN1PROD with NOTICES

information; (c) ways to enhance the verify that the items reported on the
to Michael A. Joplin, Internal Revenue quality, utility, and clarity of the form are correct and also for general
Service, room 6129, 1111 Constitution information to be collected; (d) ways to statistical use.
Avenue NW., Washington, DC 20224. minimize the burden of the collection of Current Actions: There is no change
FOR FURTHER INFORMATION CONTACT: information on respondents, including in the paperwork burden previously
Requests for additional information or through the use of automated collection approved by OMB. This form is being
copies of the form and instructions techniques or other forms of information submitted for renewal purposes only.

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Document Created: 2015-12-14 14:13:27
Document Modified: 2015-12-14 14:13:27

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 January 15, 2016 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 70883

80 FR 70883 - Proposed Collection; Comment Request for Form 6781

DEPARTMENT OF THE TREASURYInternal Revenue Service

Federal Register Volume 80, Issue 220 (November 16, 2015)

DEPARTMENT OF THE TREASURY
Internal Revenue Service