81 FR 12784 - Proposed Collection; Comment Request

DEPARTMENT OF THE TREASURY

Federal Register Volume 81, Issue 47 (March 10, 2016)

Page Range		12784-12785
FR Document		2016-05364

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 comment on an extension of an existing information collection, as required by the Paperwork Reduction Act of 1995, Public Law 104-13 (44 U.S.C. 3506(c)(2)(A)).

Federal Register, Volume 81 Issue 47 (Thursday, March 10, 2016)

[Federal Register Volume 81, Number 47 (Thursday, March 10, 2016)]
[Notices]
[Pages 12784-12785]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-05364]


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DEPARTMENT OF THE TREASURY


Proposed Collection; Comment Request

AGENCY: Departmental Offices, Treasury.

ACTION: Notice and request for comments.

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[[Page 12785]]

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 comment on an extension of an 
existing information collection, as required by the Paperwork Reduction 
Act of 1995, Public Law 104-13 (44 U.S.C. 3506(c)(2)(A)).

DATES: Written comments should be received on or before May 9, 2016 to 
be assured of consideration.

ADDRESSES: Send comments regarding the burden estimate, or any other 
aspect of the information collection, including suggestions for 
reducing the burden, to Treasury PRA Clearance Officer, 1750 
Pennsylvania Ave. NW., Suite 8117, Washington, DC 20220, or email at 
[email protected].

FOR FURTHER INFORMATION CONTACT: Requests for additional information 
should be directed to Treasury PRA Clearance Officer, 1750 Pennsylvania 
Ave. NW., Suite 8117, Washington, DC 20220, or email at 
[email protected].

SUPPLEMENTARY INFORMATION:
    OMB Control Number: 1505-NEW.
    Title: Collection of Data From Property and Casualty Insurers for a 
Report on the Effectiveness of the Terrorism Risk Insurance Program.
    Abstract: This information collection is made necessary by the 
provisions of the Terrorism Risk Insurance Program Reauthorization Act 
of 2015 (Pub. L. 114-1, 129 Stat. 3). Title I of the Terrorism Risk 
Insurance Act of 2002 (Pub. L. 107-297, 116 Stat. 2322) (the Act) 
establishes a temporary federal program of shared public and private 
compensation for insured commercial property and casualty losses 
resulting from an act of terrorism. The Act authorizes Treasury to 
administer and implement the Terrorism Risk Insurance Program 
(Program), including the issuance of regulations and procedures. The 
Program provides a federal backstop for insured losses from an act of 
terrorism. Although the Program was originally set to expire on 
December 31, 2005, it has now been extended and amended on three 
occasions; most recently, 2015 Reauthorization Act extended the Program 
through December 31, 2020. Section 111 of the 2015 Reauthorization Act 
provides that the Secretary of the Treasury, commencing in the calendar 
year beginning on January 1, 2016, shall require insurers participating 
in the Program to submit information regarding insurance coverage for 
terrorism losses in order to analyze the effectiveness of the Program. 
Section 111(h)(2) of the 2015 Reauthorization Act requires the 
Secretary to submit a report by June 30, 2016 to Committees of the 
House of Representatives and of the Senate on the overall effectiveness 
of the Program, among other things. Proposed rules addressing data 
collection are now pending OMB review. Treasury sought emergency 
clearance and review for the 2016 data collection only, as the normal 
public review and comment processes will not permit the collection of 
data under the proposed rules in time for Treasury to complete a June 
30, 2016 Report to Congress. Treasury intends to make the initial 
request voluntary on the part of participating insurers. Each entity 
that meets the Act's definition of insurer (based upon existing 
information, over 2000 individual firms, within approximately 800 
separate insurance groups) must participate in the Program.
    Type of Review: New collection.
    Affected Public: Businesses or other for-profits.
    Estimated Number of Respondents: 300.
    Estimated Total Annual Burden Hours: 10,000.
    Request for Comment: Comments submitted in response to this notice 
will be summarized and included in the request for Office of Management 
and Budget approval. Comments may become a matter of public record. The 
public is invited to submit comments concerning: (a) Whether the 
collection of information is necessary for the proper performance of 
the functions of the agency, including whether the information will 
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 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.

    Dated: March 7, 2016.
Brenda Simms,
Treasury PRA Clearance Officer.
[FR Doc. 2016-05364 Filed 3-9-16; 8:45 am]
BILLING CODE 4810-25-P

12784 Federal Register / Vol. 81, No. 47 / Thursday, March 10, 2016 / Notices

soliciting comments concerning be summarized and/or included in the Internal Revenue Service (IRS)
Revenue Procedure 97–33, Electronic request for OMB approval. All OMB Number: 1545–2261.
Federal Tax Payment System (EFTPS). comments will become a matter of Type of Review: Revision of a
DATES: Written comments should be public record. Comments are invited on: currently approved collection.
received on or before May 9, 2016 to be (a) Whether the collection of Title: Consumer Tipping Survey.
assured of consideration. information is necessary for the proper Abstract: The IRS is charged with
ADDRESSES: Direct all written comments performance of the functions of the collecting revenue legally owed to the
to Tuawana Pinkston, Internal Revenue agency, including whether the federal government. One important
Service, Room 6129, 1111 Constitution information shall have practical utility; category of income comes in the form of
Avenue NW., Washington, DC 20224. (b) the accuracy of the agency’s estimate tips. Previous empirical research has
of the burden of the collection of shown income from tips to be
FOR FURTHER INFORMATION CONTACT:
information; (c) ways to enhance the significantly underreported, limiting the
Requests for additional information or
quality, utility, and clarity of the IRS’s ability to collect the proper
copies of the regulations should be
information to be collected; (d) ways to amount of tax revenue. The IRS believes
directed to Allan Hopkins at Internal
minimize the burden of the collection of a new study of consumer tipping
Revenue Service, Room 6129, 1111
information on respondents, including practices is needed in order to better
Constitution Avenue NW., Washington,
through the use of automated collection understand current tip reporting
DC 20224, or through the Internet at
techniques or other forms of information behavior so tax administrators and
Allan.M.Hopkins@irs.gov.
technology; and (e) estimates of capital policy makers can make the tax system
SUPPLEMENTARY INFORMATION: or start-up costs and costs of operation,
Title: Federal Tax Payment System fairer and more efficient. The main goal
maintenance, and purchase of services for this survey effort is to generate
(EFTPS). to provide information.
OMB Number: 1545–1546. statistically valid estimates of tipped
Revenue Procedure Number: Revenue Approved: March 2, 2016. income in a variety of services for which
Procedure 97–33. Allan Hopkins, no such estimates exist, in addition to
Abstract: The Electronic Federal Tax Tax Analyst. providing information on other
Payment System (EFTPS) is an [FR Doc. 2016–05337 Filed 3–9–16; 8:45 am] correlates of tipped income and
electronic remittance processing system BILLING CODE 4830–01–P behavior including, but not limited to,
for making federal tax deposits (FTDs) regional or seasonal fluctuations in
and federal tax payments (FTPs). tipped income.
Revenue Procedure 97–33 provides DEPARTMENT OF THE TREASURY Estimated Total Annual Burden
taxpayers with information and Hours: 11,144.
procedures that will help them to Submission for OMB Review; OMB Number: 1545–1548.
electronically make FTDs and tax Comment Request Type of Review: Reinstatement
payments through EFTPS. without change of a previously
March 4, 2016.
Current Actions: There are no changes approved collection.
being made to the revenue procedure at The Department of the Treasury will Title: Rev. Proc. 2013–30, Uniform
this time. submit the following information Late S Corporation Election Revenue
Type of Review: Extension of a collection requests to the Office of Procedure.
currently approved collection. Management and Budget (OMB) for Abstract: The information will help
Affected Public: Individuals or review and clearance in accordance the IRS determine whether a taxpayer
households, business or other for-profit with the Paperwork Reduction Act of has met the requirements of the Rev
organizations, not-for-profit institutions, 1995, Public Law 104–13, on or after the Proc and whether a taxpayer has
farms, and Federal, state, local or tribal date of publication of this notice. reasonable cause for failing to make a
governments. DATES: Comments should be received on timely election. The collection is
Estimated Number of Respondents: or before April 11, 2016 to be assured required to make a late election
557,243. of consideration. pursuant to this Rev Proc. This
Estimated Average Time per information will be used to determine
ADDRESSES: Send comments regarding
Respondent: 30 minutes. whether the eligibility requirements for
the burden estimates, or any other
Estimated Total Annual Burden obtaining relief have been met. Modifies
aspect of the information collections,
Hours: 278,622. and supersedes and makes obsolete Rev.
The following paragraph applies to all including suggestions for reducing the
burden, to (1) Office of Information and Proc’s. 2003–43, 2004–48, and 2007–62.
the collections of information covered Estimated Total Annual Burden
by this notice: Regulatory Affairs, Office of
Management and Budget, Attention: Hours: 50,000.
An agency may not conduct or
sponsor, and a person is not required to Desk Officer for Treasury, New Brenda Simms,
respond to, a collection of information Executive Office Building, Room 10235, Treasury PRA Clearance Officer.
unless the collection of information Washington, DC 20503, or email at [FR Doc. 2016–05290 Filed 3–9–16; 8:45 am]
displays a valid OMB control number. OIRA_Submission@OMB.EOP.gov and BILLING CODE 4830–01–P
Books or records relating to a (2) Treasury PRA Clearance Officer,
collection of information must be 1750 Pennsylvania Ave. NW., Suite
8117, Washington, DC 20220, or email DEPARTMENT OF THE TREASURY
mstockstill on DSK4VPTVN1PROD with NOTICES

retained as long as their contents may
become material in the administration at PRA@treasury.gov.
of any internal revenue law. Generally, FOR FURTHER INFORMATION CONTACT: Proposed Collection; Comment
tax returns and tax return information Copies of the submissions may be Request
are confidential, as required by 26 obtained by emailing PRA@treasury.gov, Departmental Offices, Treasury.
AGENCY:
U.S.C. 6103. calling (202) 622–1295, or viewing the
Notice and request for
ACTION:
Request for Comments: Comments entire information collection request at
comments.
submitted in response to this notice will www.reginfo.gov.

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$Federal Register / Vol. 81, No. 47 / Thursday, March 10, 2016 / Notices 12785 SUMMARY: The Department of the property and casualty losses resulting (based upon existing information, over Treasury, as part of its continuing effort from an act of terrorism. The Act 2000 individual firms, within to reduce paperwork and respondent authorizes Treasury to administer and approximately 800 separate insurance burden, invites the general public and implement the Terrorism Risk Insurance groups) must participate in the Program. other Federal agencies to comment on Program (Program), including the Type of Review: New collection. an extension of an existing information issuance of regulations and procedures. Affected Public: Businesses or other collection, as required by the Paperwork The Program provides a federal for-profits. Reduction Act of 1995, Public Law 104– backstop for insured losses from an act 13 (44 U.S.C. 3506(c)(2)(A)). of terrorism. Although the Program was Estimated Number of Respondents: originally set to expire on December 31, 300. DATES: Written comments should be received on or before May 9, 2016 to be 2005, it has now been extended and Estimated Total Annual Burden assured of consideration. amended on three occasions; most Hours: 10,000. recently, 2015 Reauthorization Act Request for Comment: Comments ADDRESSES: Send comments regarding extended the Program through submitted in response to this notice will the burden estimate, or any other aspect December 31, 2020. Section 111 of the be summarized and included in the of the information collection, including 2015 Reauthorization Act provides that request for Office of Management and suggestions for reducing the burden, to the Secretary of the Treasury, Budget approval. Comments may Treasury PRA Clearance Officer, 1750 commencing in the calendar year become a matter of public record. The Pennsylvania Ave. NW., Suite 8117, beginning on January 1, 2016, shall public is invited to submit comments Washington, DC 20220, or email at require insurers participating in the concerning: (a) Whether the collection PRA@treasury.gov. Program to submit information of information is necessary for the FOR FURTHER INFORMATION CONTACT: regarding insurance coverage for proper performance of the functions of Requests for additional information terrorism losses in order to analyze the the agency, including whether the should be directed to Treasury PRA effectiveness of the Program. Section information will have practical utility; Clearance Officer, 1750 Pennsylvania 111(h)(2) of the 2015 Reauthorization (b) the accuracy of the agency’s estimate Ave. NW., Suite 8117, Washington, DC Act requires the Secretary to submit a of the burden of the collection of 20220, or email at PRA@treasury.gov. report by June 30, 2016 to Committees information; (c) ways to enhance the SUPPLEMENTARY INFORMATION: of the House of Representatives and of quality, utility, and clarity of the OMB Control Number: 1505–NEW. the Senate on the overall effectiveness information to be collected; (d) ways to Title: Collection of Data From of the Program, among other things. minimize the burden of the collection of Property and Casualty Insurers for a Proposed rules addressing data information on respondents, including Report on the Effectiveness of the collection are now pending OMB the use of automated collection Terrorism Risk Insurance Program. review. Treasury sought emergency techniques or other forms of information Abstract: This information collection clearance and review for the 2016 data technology; and (e) estimates of capital is made necessary by the provisions of collection only, as the normal public or start-up costs and costs of operation, the Terrorism Risk Insurance Program review and comment processes will not maintenance, and purchase of services Reauthorization Act of 2015 (Pub. L. permit the collection of data under the to provide information. 114–1, 129 Stat. 3). Title I of the proposed rules in time for Treasury to Terrorism Risk Insurance Act of 2002 complete a June 30, 2016 Report to Dated: March 7, 2016. (Pub. L. 107–297, 116 Stat. 2322) (the Congress. Treasury intends to make the Brenda Simms, Act) establishes a temporary federal initial request voluntary on the part of Treasury PRA Clearance Officer. program of shared public and private participating insurers. Each entity that [FR Doc. 2016–05364 Filed 3–9–16; 8:45 am] compensation for insured commercial meets the Act’s definition of insurer BILLING CODE 4810–25–P mstockstill on DSK4VPTVN1PROD with NOTICES VerDate Sep<11>2014 17:55 Mar 09, 2016 Jkt 238001 PO 00000 Frm 00106 Fmt 4703 Sfmt 9990 E:\FR\FM\10MRN1.SGM 10MRN1$

Document Created: 2018-02-02 15:11:54
Document Modified: 2018-02-02 15:11:54

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 9, 2016 to be assured of consideration.
Contact		Requests for additional information should be directed to Treasury PRA Clearance Officer, 1750 Pennsylvania Ave. NW., Suite 8117, Washington, DC 20220, or email at [email protected]
FR Citation		81 FR 12784