81 FR 19715 - Proposed Collection; Comment Request for Regulation Project

DEPARTMENT OF THE TREASURY
Internal Revenue Service

Federal Register Volume 81, Issue 65 (April 5, 2016)

Page Range		19715-19716
FR Document		2016-07755

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 Nonaccrual-Experience Method of Accounting Under Section 448(d)(5).

Federal Register, Volume 81 Issue 65 (Tuesday, April 5, 2016)

[Federal Register Volume 81, Number 65 (Tuesday, April 5, 2016)]
[Notices]
[Pages 19715-19716]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-07755]


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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 
Nonaccrual-Experience Method of Accounting Under Section 448(d)(5).

DATES: Written comments should be received on or before June 6, 2016 to 
be assured of consideration.

ADDRESSES: Direct all written comments to Tuawana Pinkston, Internal 
Revenue Service, Room 6526, 1111 Constitution Avenue NW., Washington, 
DC 20224.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the regulations should be directed to Kerry Dennis at 
Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW., 
Washington, DC 20224, or through the internet at [email protected].

SUPPLEMENTARY INFORMATION: 
    Title: Nonaccrual-Experience Method of Accounting Under Section 
448(d)(5).
    OMB Number: 1545-1855. Regulation Project Number: TD 9285.
    Abstract: This document contains final regulations relating to the 
use of a nonaccrual-experience method of accounting by taxpayers using 
an accrual method of accounting and performing services. The final 
regulations reflect amendments under the Job Creation and Worker 
Assistance Act of 2002. The final regulations affect qualifying 
taxpayers that want to adopt, change to, or change a nonaccrual-
experience method of accounting under section 448(d)(5) of the Internal 
Revenue Code (Code).
    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: 8,000.
    Estimated Time per Respondent: 3 hours.
    Estimated Total Annual Burden Hours: 24,000.
    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

[[Page 19716]]

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 16, 2016.
Tuawana Pinkston,
IRS Reports Clearance Officer.
[FR Doc. 2016-07755 Filed 4-4-16; 8:45 am]
 BILLING CODE 4830-01-P

Federal Register / Vol. 81, No. 65 / Tuesday, April 5, 2016 / Notices 19715

SUMMARY: The Department of the Request for Comments: Comments Revenue Service, Room 6526, 1111
Treasury, as part of its continuing effort submitted in response to this notice will Constitution Avenue NW., Washington,
to reduce paperwork and respondent be summarized and/or included in the DC 20224, or through the internet at
burden, invites the general public and request for OMB approval. All Kerry.Dennis@irs.gov.
other Federal agencies to take this comments will become a matter of SUPPLEMENTARY INFORMATION:
opportunity to comment on proposed public record. Comments are invited on: Title: Nonaccrual-Experience Method
and/or continuing information (a) Whether the collection of of Accounting Under Section 448(d)(5).
collections, as required by the information is necessary for the proper OMB Number: 1545–1855. Regulation
Paperwork Reduction Act of 1995, performance of the functions of the Project Number: TD 9285.
Public Law 104–13 (44 U.S.C. agency, including whether the Abstract: This document contains
3506(c)(2)(A)). Currently, the IRS is information shall have practical utility; final regulations relating to the use of a
soliciting comments concerning Form (b) the accuracy of the agency’s estimate nonaccrual-experience method of
706–GS(T), Generation-Skipping of the burden of the collection of accounting by taxpayers using an
Transfer Tax Return For Terminations. information; (c) ways to enhance the accrual method of accounting and
DATES: Written comments should be quality, utility, and clarity of the performing services. The final
received on or before June 6, 2016 to be information to be collected; (d) ways to regulations reflect amendments under
assured of consideration. minimize the burden of the collection of the Job Creation and Worker Assistance
ADDRESSES: Direct all written comments information on respondents, including Act of 2002. The final regulations affect
to Tuawana Pinkston, Internal Revenue through the use of automated collection qualifying taxpayers that want to adopt,
Service, Room 6129, 1111 Constitution techniques or other forms of information change to, or change a nonaccrual-
Avenue NW., Washington, DC 20224. technology; and (e) estimates of capital experience method of accounting under
or start-up costs and costs of operation, section 448(d)(5) of the Internal
FOR FURTHER INFORMATION CONTACT:
maintenance, and purchase of services Revenue Code (Code).
Requests for additional information or
to provide information. Current Actions: There is no change to
copies of the form and instructions
should be directed to Martha R. Brinson, Approved: March 10, 2016. this existing regulation.
Internal Revenue Service, Room 6129, Tuawana Pinkston, Type of Review: Extension of a
1111 Constitution Avenue NW., IRS Reports Clearance Officer. currently approved collection.
Washington, DC 20224, or through the [FR Doc. 2016–07760 Filed 4–4–16; 8:45 am]
Affected Public: Business or other for-
Internet at Martha.R.Brinson@irs.gov. profit organizations.
BILLING CODE 4830–01–P
SUPPLEMENTARY INFORMATION:
Estimated Number of Respondents:
Title: Generation-Skipping Transfer 8,000.
Tax Return For Terminations. DEPARTMENT OF THE TREASURY Estimated Time per Respondent: 3
OMB Number: 1545–1145. hours.
Form Number: 706–GS(T). Internal Revenue Service Estimated Total Annual Burden
Abstract: Form 706–GS(T) is used by Hours: 24,000.
trustees to compute and report the tax Proposed Collection; Comment The following paragraph applies to all
due on generation-skipping transfers Request for Regulation Project of the collections of information covered
that result from the termination of by this notice:
AGENCY: Internal Revenue Service (IRS),
interests in a trust. The IRS uses the An agency may not conduct or
Treasury.
information to verify that the tax has sponsor, and a person is not required to
ACTION: Notice and request for respond to, a collection of information
been properly computed. comments.
Current Actions: There are no changes unless the collection of information
being made to the form at this time. SUMMARY: The Department of the displays a valid OMB control number.
Type of Review: Extension of a Treasury, as part of its continuing effort Books or records relating to a
currently approved collection. to reduce paperwork and respondent collection of information must be
Affected Public: Individuals or burden, invites the general public and retained as long as their contents may
households. other Federal agencies to take this become material in the administration
Estimated Number of Respondents: opportunity to comment on proposed of any internal revenue law. Generally,
500. and/or continuing information tax returns and tax return information
Estimated Number of Response: 1 collections, as required by the are confidential, as required by 26
hour, 22 minutes. Paperwork Reduction Act of 1995, U.S.C. 6103.
Estimated Total Annual Burden Public Law 104–13(44 U.S.C. Request for Comments: Comments
Hours: 684. 3506(c)(2)(A)). Currently, the IRS is submitted in response to this notice will
The following paragraph applies to all soliciting comments concerning be summarized and/or included in the
of the collections of information covered Nonaccrual-Experience Method of request for OMB approval. All
by this notice: Accounting Under Section 448(d)(5). comments will become a matter of
An agency may not conduct or public record. Comments are invited on:
DATES: Written comments should be
sponsor, and a person is not required to (a) Whether the collection of
respond to, a collection of information received on or before June 6, 2016 to be information is necessary for the proper
unless the collection of information assured of consideration. performance of the functions of the
asabaliauskas on DSK3SPTVN1PROD with NOTICES

displays a valid OMB control number. ADDRESSES: Direct all written comments agency, including whether the
Books or records relating to a collection to Tuawana Pinkston, Internal Revenue information shall have practical utility;
of information must be retained as long Service, Room 6526, 1111 Constitution (b) the accuracy of the agency’s estimate
as their contents may become material Avenue NW., Washington, DC 20224. of the burden of the collection of
in the administration of any internal FOR FURTHER INFORMATION CONTACT: information; (c) ways to enhance the
revenue law. Generally, tax returns and Requests for additional information or quality, utility, and clarity of the
tax return information are confidential, copies of the regulations should be information to be collected; (d) ways to
as required by 26 U.S.C. 6103. directed to Kerry Dennis at Internal minimize the burden of the collection of

VerDate Sep<11>2014 17:18 Apr 04, 2016 Jkt 238001 PO 00000 Frm 00167 Fmt 4703 Sfmt 4703 E:\FR\FM\05APN1.SGM 05APN1

$19716 Federal Register / Vol. 81, No. 65 / Tuesday, April 5, 2016 / Notices information on respondents, including Service, Room 6526, 1111 Constitution An agency may not conduct or through the use of automated collection Avenue NW., Washington, DC 20224. sponsor, and a person is not required to techniques or other forms of information FOR FURTHER INFORMATION CONTACT: respond to, a collection of information technology; and (e) estimates of capital Requests for additional information or unless the collection of information or start-up costs and costs of operation, copies of the notice should be directed displays a valid OMB control number. maintenance, and purchase of services to Kerry Dennis, at Internal Revenue Books or records relating to a collection to provide information. Service, room 6526, 1111 Constitution of information must be retained as long Approved: March 16, 2016. Avenue NW., Washington, DC 20224, or as their contents may become material Tuawana Pinkston, through the internet at Kerry.Dennis@ in the administration of any internal IRS Reports Clearance Officer. irs.gov. revenue law. Generally, tax returns and [FR Doc. 2016–07755 Filed 4–4–16; 8:45 am] SUPPLEMENTARY INFORMATION: tax return information are confidential, BILLING CODE 4830–01–P Title: Highly Compensated Employee as required by 26 U.S.C. 6103. Definition. Request for Comments: Comments OMB Number: 1545–1550. Notice Number: Notice 97–45. submitted in response to this notice will DEPARTMENT OF THE TREASURY Abstract: Notice 97–45 provides be summarized and/or included in the Internal Revenue Service guidance on the definition of highly request for OMB approval. All compensated employee (HCE) within comments will become a matter of Proposed Collection; Comment the meaning of section 414(q) of the public record. Comments are invited on: Request for Notice 97–45 Internal Revenue Code, as simplified by (a) Whether the collection of AGENCY: Internal Revenue Service (IRS), section 1431 of the Small Business Job information is necessary for the proper Treasury. Protection Act of 1996, including an performance of the functions of the employer’s option to make a top-paid agency, including whether the ACTION: Notice and request for group election under section information shall have practical utility; comments. 414(q)(1)(B)(ii). The notice requires (b) the accuracy of the agency’s estimate SUMMARY: The Department of the qualified retirement plans that contain a of the burden of the collection of Treasury, as part of its continuing effort definition of HCE to be amended to information; (c) ways to enhance the to reduce paperwork and respondent reflect the statutory changes to section quality, utility, and clarity of the burden, invites the general public and 414(q). information to be collected; (d) ways to other Federal agencies to take this Current Actions: There are no changes minimize the burden of the collection of opportunity to comment on proposed being made to the notice at this time. information on respondents, including and/or continuing information Type of Review: Extension of a currently approved collection. through the use of automated collection collections, as required by the techniques or other forms of information Paperwork Reduction Act of 1995, Affected Public: Business or other for- profit organizations, and not-for-profit technology; and (e) estimates of capital Public Law 104–13 (44 U.S.C. institutions. or start-up costs and costs of operation, 3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning Notice Estimated Number of Respondents: maintenance, and purchase of services 97–45, Highly Compensated Employee 218,683. to provide information. Definition. Estimated Time per Respondent: 18 Approved: March 16, 2016. minutes. DATES: Written comments should be Estimated Total Annual Burden Tuawana Pinkston, received on or before June 6, 2016 to be Hours: 65,605. IRS Reports Clearance Officer. assured of consideration. The following paragraph applies to all [FR Doc. 2016–07756 Filed 4–4–16; 8:45 am] ADDRESSES: Direct all written comments of the collections of information covered BILLING CODE 4830–01–P to Tuawana Pinkston, Internal Revenue by this notice: asabaliauskas on DSK3SPTVN1PROD with NOTICES VerDate Sep<11>2014 17:18 Apr 04, 2016 Jkt 238001 PO 00000 Frm 00168 Fmt 4703 Sfmt 9990 E:\FR\FM\05APN1.SGM 05APN1$

Document Created: 2018-02-07 13:53:55
Document Modified: 2018-02-07 13:53:55

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 June 6, 2016 to be assured of consideration.
Contact		Requests for additional information or copies of the regulations should be directed to Kerry Dennis at Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW., Washington, DC 20224, or through the internet at [email protected]
FR Citation		81 FR 19715

81 FR 19715 - Proposed Collection; Comment Request for Regulation Project

DEPARTMENT OF THE TREASURYInternal Revenue Service

Federal Register Volume 81, Issue 65 (April 5, 2016)

DEPARTMENT OF THE TREASURY
Internal Revenue Service