81_FR_25022 81 FR 24941 - Open Meeting of the Taxpayer Advocacy Panel Taxpayer Communications Project Committee

81 FR 24941 - Open Meeting of the Taxpayer Advocacy Panel Taxpayer Communications Project Committee

DEPARTMENT OF THE TREASURY
Internal Revenue Service

Federal Register Volume 81, Issue 81 (April 27, 2016)

Page Range24941-24942
FR Document2016-09764

In the Federal Register notice that was originally published on April 14, 2016, (Volume 81, Number 72, Page 22166) the time was written as 3:00 p.m. EST instead of 2:00 p.m. EST. The meeting time is: 2:00 p.m. EST, Thursday, May 19, 2016.

Federal Register, Volume 81 Issue 81 (Wednesday, April 27, 2016) 
[Federal Register Volume 81, Number 81 (Wednesday, April 27, 2016)]
[Notices]
[Pages 24941-24942]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-09764]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Open Meeting of the Taxpayer Advocacy Panel Taxpayer 
Communications Project Committee

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice of meeting; correction.

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SUMMARY: In the Federal Register notice that was originally published 
on April 14, 2016, (Volume 81, Number 72, Page 22166) the time was 
written as 3:00 p.m. EST instead of 2:00 p.m. EST. The meeting time is: 
2:00 p.m. EST, Thursday, May 19, 2016.

DATES: The meeting will be held Thursday, May 19, 2016.

FOR FURTHER INFORMATION CONTACT: Antoinette Ross at 1-888-912-1227 or 
(202) 317-4110.

SUPPLEMENTARY INFORMATION: Notice is hereby given pursuant to Section 
10(a)(2) of the Federal Advisory Committee Act, 5 U.S.C. App. (1988) 
that an open meeting of the Taxpayer Advocacy Panel Taxpayer 
Communications Project Committee will be held Thursday, May 19, 2016, 
at 2:00 p.m. Eastern Time via teleconference. The public is invited to 
make oral

[[Page 24942]]

comments or submit written statements for consideration. Due to limited 
conference lines, notification of intent to participate must be made 
with Antoinette Ross. For more information please contact: Antoinette 
Ross at 1-888-912-1227 or (202) 317-4110, or write TAP Office, 1111 
Constitution Avenue NW., Room 1509--National Office, Washington, DC 
20224, or contact us at the Web site: http://www.improveirs.org.
    The committee will be discussing various issues related to Taxpayer 
Communications and public input is welcome.

    Dated: April 21, 2016.
Antoinette Ross,
Acting Director, Taxpayer Advocacy Panel.
[FR Doc. 2016-09764 Filed 4-26-16; 8:45 am]
 BILLING CODE 4830-01-P

Federal Register / Vol. 81, No. 81 / Wednesday, April 27, 2016 / Notices 24941 include any information in your Respondents are financial institutions guidance should have this flexibility in comment or supporting materials that with leveraged lending activities as setting the parameters of their leveraged you consider confidential or defined in the guidance. lending and risk management programs. inappropriate for public disclosure. Title: Leveraged Lending. Comments continue to be requested Additionally, please send a copy of OMB Control No.: 1557–0315. on: your comments by mail to: OCC Desk Frequency of Response: Annual. (a) Whether the information Officer, 1557–0315, U.S. Office of Affected Public: Financial institutions collections are necessary for the proper Management and Budget, 725 17th with leveraged lending. performance of the OCC’s functions, Burden Estimates: including whether the information has Street NW., #10235, Washington, DC Estimated number of respondents: 29. 20503, or by email to: oira submission@ practical utility; Estimated total annual burden: 39,162 (b) The accuracy of the OCC’s omb.eop.gov. hours to build; 49,462 hours for ongoing estimates of the burden of the FOR FURTHER INFORMATION CONTACT: use. information collections, including the Shaquita Merritt, Clearance Officer, Total estimated annual burden: validity of the methodology and (202) 649–5490 or, for persons who are 88,624 hours. assumptions used; deaf or hard of hearing, TTY, (202) 649– Comments: On February 17, 2016, the (c) Ways to enhance the quality, 5597, Legislative and Regulatory OCC published a notice for 60 days of utility, and clarity of the information to Activities Division, Office of the comment regarding the collection, 81 FR be collected; Comptroller of the Currency, 400 7th 8126. The OCC received one comment (d) Ways to minimize the burden of Street SW., Washington, DC 20219. on the 60-day notice from an individual. information collections on respondents, SUPPLEMENTARY INFORMATION: The OCC The commenter questioned the utility including through the use of automated is proposing to extend OMB approval of and benefit of the information collection collection techniques or other forms of the following information collection: aspects of the guidance compared with information technology; and the burden. Specifically, the commenter (e) Estimates of capital or startup costs Title: Leveraged Lending. stated the information collections on and costs of operation, maintenance, OMB Control No.: 1557–0315. stress-testing for leveraged lending, and purchase of services to provide Description: On March 22, 2013, the including for pipeline exposures, is information. agencies 1 issued guidance stating that already contained in other OCC or they expected financial institutions 2 to Dated: April 21, 2016. interagency guidance. The commenter properly evaluate and monitor Mary Hoyle Gottlieb, also suggested that the OCC should underwritten credit risks in leveraged define a leveraged loan and clarify the Regulatory Specialist, Office of the loans, to understand the effect of Comptroller of the Currency. limits of acceptable leveraged lending changes in borrowers’ business risk. [FR Doc. 2016–09878 Filed 4–26–16; 8:45 am] valuations on credit portfolio quality, The OCC believes that the information BILLING CODE 4810–33–P and to assess the sensitivity of future collections provide utility and benefit, credit losses to these changes in as they can allow banks to monitor more business valuations.3 In underwriting closely their leveraged lending activity. DEPARTMENT OF THE TREASURY such credits, financial institutions Increased monitoring can improve a should ensure that borrowers are able to Internal Revenue Service bank’s response to potential repay credits when due and that deteriorations in the leveraged lending borrowers have sustainable capital Open Meeting of the Taxpayer portfolio. Regarding burden, the Advocacy Panel Taxpayer structures, including bank borrowings leveraged lending information and other debt, to support their Communications Project Committee collections are voluntary. If a bank continued operations through economic decides that the burdens of certain AGENCY: Internal Revenue Service (IRS), cycles. Financial institutions also collections would outweigh the costs, Treasury. should be able to demonstrate they then the bank can choose not to ACTION: Notice of meeting; correction. understand the risks and the potential implement those collections. While the impact of stressful events and OCC has issued other guidance SUMMARY: In the Federal Register notice circumstances on borrowers’ financial documents on stress-testing, either that was originally published on April condition. standalone or on an interagency basis, 14, 2016, (Volume 81, Number 72, Page The final guidance stated that those documents provide higher-level 22166) the time was written as 3:00 p.m. financial institutions should have: (i) guidance for stress-testing of all assets EST instead of 2:00 p.m. EST. The Underwriting policies for leveraged and liabilities. The leveraged lending meeting time is: 2:00 p.m. EST, lending, including stress-testing guidance provides additional Thursday, May 19, 2016. procedures for leveraged credits; (ii) risk considerations for stress-testing DATES: The meeting will be held management policies, including stress- specifically related to leveraged lending, Thursday, May 19, 2016. testing procedures for pipeline which is not present in other OCC or FOR FURTHER INFORMATION CONTACT: exposures; and, (iii) policies and interagency guidance. Antoinette Ross at 1–888–912–1227 or procedures for incorporating the results During the initial issuance of the (202) 317–4110. of leveraged credit and pipeline stress leveraged lending guidance, the OCC SUPPLEMENTARY INFORMATION: Notice is tests into the firm’s overall stress-testing considered whether to establish a single hereby given pursuant to Section asabaliauskas on DSK3SPTVN1PROD with NOTICES framework. definition of leveraged loan or leveraged 10(a)(2) of the Federal Advisory lending. However, the agencies Committee Act, 5 U.S.C. App. (1988) 1 OCC, Board of Governors of the Federal Reserve concluded that leveraged lending is not that an open meeting of the Taxpayer System, and Federal Deposit Insurance Corporation. homogenous across industries or banks, Advocacy Panel Taxpayer 2 For the OCC, the term ‘‘financial institution’’ or and did not believe that a ‘‘one-size-fits- Communications Project Committee will ‘‘institution’’ includes national banks, Federal savings associations, and Federal branches and all’’ definition was appropriate. The be held Thursday, May 19, 2016, at 2:00 agencies supervised by the OCC. OCC continues to believe that those p.m. Eastern Time via teleconference. 3 78 FR 17766 (March 22, 2013). banks following the leveraged lending The public is invited to make oral VerDate Sep<11>2014 17:29 Apr 26, 2016 Jkt 238001 PO 00000 Frm 00159 Fmt 4703 Sfmt 4703 E:\FR\FM\27APN1.SGM 27APN1

24942 Federal Register / Vol. 81, No. 81 / Wednesday, April 27, 2016 / Notices comments or submit written statements Dated: April 21, 2016. FOR FURTHER INFORMATION CONTACT: For for consideration. Due to limited Antoinette Ross, information regarding the application conference lines, notification of intent Acting Director, Taxpayer Advocacy Panel. from the Board of Trustees of the Iron to participate must be made with [FR Doc. 2016–09763 Filed 4–26–16; 8:45 am] Workers Local Union 16 Pension Fund, Antoinette Ross. For more information BILLING CODE 4830–01–P please contact Treasury at (202) 622– please contact: Antoinette Ross at 1– 1534 (not a toll-free number). 888–912–1227 or (202) 317–4110, or SUPPLEMENTARY INFORMATION: The write TAP Office, 1111 Constitution DEPARTMENT OF THE TREASURY Multiemployer Pension Reform Act of Avenue NW., Room 1509—National Multiemployer Pension Plan 2014 (MPRA) amended the Internal Office, Washington, DC 20224, or Application To Reduce Benefits Revenue Code to permit a contact us at the Web site: http:// multiemployer plan that is projected to www.improveirs.org. AGENCY: Department of the Treasury. have insufficient funds to reduce The committee will be discussing ACTION:Notice of availability; request pension benefits payable to participants various issues related to Taxpayer for comments. and beneficiaries if certain conditions Communications and public input is are satisfied. In order to reduce benefits, welcome. SUMMARY: The Board of Trustees of the the plan sponsor is required to submit Dated: April 21, 2016. Iron Workers Local Union 16 Pension an application to the Secretary of the Fund, a multiemployer pension plan, Treasury, which Treasury, in Antoinette Ross, has submitted an application to consultation with the Pension Benefit Acting Director, Taxpayer Advocacy Panel. Treasury to reduce benefits under the [FR Doc. 2016–09764 Filed 4–26–16; 8:45 am] Guaranty Corporation (PBGC) and the plan in accordance with the Department of Labor, is required to BILLING CODE 4830–01–P Multiemployer Pension Reform Act of approve or deny. 2014 (MPRA). The purpose of this notice is to announce that the On March 26, 2016, the Board of DEPARTMENT OF THE TREASURY application submitted by the Board of Trustees of the Iron Workers Local Trustees of the Iron Workers Local Union 16 Pension Fund submitted an Internal Revenue Service application for approval to reduce Union 16 Pension Fund has been published on the Web site of the benefits under the plan. As required by Open Meeting of the Taxpayer MPRA, that application has been Advocacy Panel Joint Committee Department of the Treasury (Treasury), and to request public comments on the published on Treasury’s Web site at AGENCY: Internal Revenue Service (IRS), application from interested parties, https://auth.treasury.gov/services/ Treasury. including contributing employers, Pages/Plan-Applications.aspx. Treasury employee organizations, and is publishing this notice in the Federal ACTION: Notice of meeting. Register, in consultation with PBGC and participants and beneficiaries of the Iron Workers Local Union 16 Pension Fund. the Department of Labor, to solicit SUMMARY: An open meeting of the public comments on all aspects of the Taxpayer Advocacy Panel Joint DATES: Comments must be received by Iron Workers Local Union 16 Pension Committee will be conducted. The June 9, 2016. Fund application. Taxpayer Advocacy Panel is soliciting ADDRESSES: You may submit comments electronically through the Federal Comments are requested from public comments, ideas, and eRulemaking Portal at http:// interested parties, including suggestions on improving customer www.regulations.gov, in accordance contributing employers, employee service at the Internal Revenue Service. with the instructions on that site. organizations, and participants and The meeting will be held DATES: Electronic submissions through beneficiaries of the Iron Workers Local Wednesday, May 25, 2016. www.regulations.gov are encouraged. Union 16 Pension Fund. Consideration FOR FURTHER INFORMATION CONTACT: Kim Comments may also be mailed to the will be given to any comments that are Vinci at 1–888–912–1227 or 916–974– Department of the Treasury, MPRA timely received by Treasury. 5086. Office, 1500 Pennsylvania Avenue, Dated: April 20, 2016. NW., Room 1224, Washington, DC David R. Pearl, SUPPLEMENTARY INFORMATION: Notice is 20220. Attn: Deva Kyle. Comments sent Executive Secretary, Department of the hereby given pursuant to Section via facsimile and email will not be Treasury. 10(a)(2) of the Federal Advisory accepted. [FR Doc. 2016–09836 Filed 4–26–16; 8:45 am] Committee Act, 5 U.S.C. App. (1988) Additional Instructions. All BILLING CODE 4810–25–P that an open meeting of the Taxpayer comments received, including Advocacy Panel Joint Committee will be attachments and other supporting held Wednesday, May 25, 2016, at 1:00 materials, will be made available to the DEPARTMENT OF THE TREASURY p.m. Eastern Time via teleconference. public. Do not include any personally The public is invited to make oral identifiable information (such as Social Submission for OMB Review; comments or submit written statements Security number, name, address, or Comment Request for consideration. For more information other contact information) or any other please contact: Kim Vinci at 1–888– information in your comment or April 22, 2016. asabaliauskas on DSK3SPTVN1PROD with NOTICES 912–1227 or 916–974–5086, TAP Office, supporting materials that you do not The Department of the Treasury will 4330 Watt Ave., Sacramento, CA 95821, want publicly disclosed. Treasury will submit the following information or contact us at the Web site: http:// make comments available for public collection requests to the Office of www.improveirs.org. inspection and copying on Management and Budget (OMB) for The agenda will include various www.regulations.gov or upon request. review and clearance in accordance committee issues for submission to the Comments posted on the Internet can be with the Paperwork Reduction Act of IRS and other TAP related topics. Public retrieved by most Internet search 1995, Public Law 104–13, on or after the input is welcomed. engines. date of publication of this notice. VerDate Sep<11>2014 17:29 Apr 26, 2016 Jkt 238001 PO 00000 Frm 00160 Fmt 4703 Sfmt 4703 E:\FR\FM\27APN1.SGM 27APN1


Document Created: 2018-02-07 13:55:46
Document Modified: 2018-02-07 13:55:46
CategoryRegulatory Information
CollectionFederal Register
sudoc ClassAE 2.7:
GS 4.107:
AE 2.106:
PublisherOffice of the Federal Register, National Archives and Records Administration
SectionNotices
ActionNotice of meeting; correction.
DatesThe meeting will be held Thursday, May 19, 2016.
ContactAntoinette Ross at 1-888-912-1227 or (202) 317-4110.
FR Citation81 FR 24941 
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