81 FR 5164 - Proposed Collection; Comment Request

DEPARTMENT OF THE TREASURY

Federal Register Volume 81, Issue 20 (February 1, 2016)

Page Range		5164-5165
FR Document		2016-01768

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)). Currently, the Office of the Fiscal Assistant Secretary, within the Department of the Treasury, is soliciting comments concerning grants to states for low-income housing projects in lieu of tax credits.

Federal Register, Volume 81 Issue 20 (Monday, February 1, 2016)

[Federal Register Volume 81, Number 20 (Monday, February 1, 2016)]
[Notices]
[Pages 5164-5165]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-01768]


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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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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)). Currently, 
the Office of the Fiscal Assistant Secretary, within the Department of 
the Treasury, is soliciting comments concerning grants to states for 
low-income housing projects in lieu of tax credits.

DATES: Written comments should be received on or before April 1, 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 Sustanchia Gladden, Department of the Treasury, 
1500 Pennsylvania Avenue NW., Room 1050, Washington, DC 20020 or to 
[email protected].

FOR FURTHER INFORMATION CONTACT: Requests for additional information 
should be directed to Sustanchia Gladden, Department of the Treasury, 
1500 Pennsylvania Avenue NW., Room 1050, Washington, DC 20020 or to 
[email protected].

SUPPLEMENTARY INFORMATION:
    OMB Control Number: 1505-0218.
    Title: Grants to States for Low-Income Housing Projects in lieu of 
Tax Credits.
    Abstract: Authorized under the American Recovery and Reinvestment 
Act (ARRA) (Pub. L. 111-5), the Department of the Treasury implemented 
several provisions of the Act, more specifically Division B--Tax, 
Unemployment, Health, State Fiscal Relief, and Other Provisions. Among 
these components is a program which requires Treasury to make payments, 
in lieu of a tax credit, to state housing credit agencies. State 
housing credit agencies use the funds to make subawards to finance the 
construction or acquisition and rehabilitation of qualified low-income 
buildings. The collection of information from the agencies is necessary 
to properly monitor compliance with program requirements.
    Type of Review: Extension of a currently approved collection.
    Affected Public: State, Local, or Tribal Governments.
    Estimated Number of Respondents: 55.
    Estimated Annual Hours per Response: 0.5 hours.
    Estimated Total Annual Burden Hours: 57.
    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

[[Page 5165]]

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: January 27, 2016.
Brenda Simms,
Treasury PRA Clearance Officer.
[FR Doc. 2016-01768 Filed 1-29-16; 8:45 am]
 BILLING CODE 4810-25-P

5164 Federal Register / Vol. 81, No. 20 / Monday, February 1, 2016 / Notices

Dated: January 25, 2016. to postpone a determination as to of the information collection, including
Robert W. Errett, whether an activity is entered into for suggestions for reducing the burden, to
Deputy Secretary. profit or is in the nature of a Sustanchia Gladden, Department of the
[FR Doc. 2016–01716 Filed 1–29–16; 8:45 am] nondeductible hobby. The election is Treasury, 1500 Pennsylvania Avenue
BILLING CODE 8011–01–P made on Form 5213. NW., Room 1050, Washington, DC
Affected Public: Businesses or other 20020 or to Sustanchia.Gladden@
for-profits; Individuals. treasury.gov.
DEPARTMENT OF THE TREASURY Estimated Total Annual Burden FOR FURTHER INFORMATION CONTACT:
Hours: 2,762. Requests for additional information
Submission for OMB Review; OMB Control Number: 1545–1837. should be directed to Sustanchia
Comment Request Type of Review: Extension of a Gladden, Department of the Treasury,
currently approved collection. 1500 Pennsylvania Avenue NW., Room
January 26, 2016. Title: Revenue Procedure 2003–36,
The Department of the Treasury will 1050, Washington, DC 20020 or to
Industry Issue Resolution Program. Sustanchia.Gladden@treasury.gov.
submit the following information Abstract: Rev. Proc. 2003–36
collection requests to the Office of SUPPLEMENTARY INFORMATION:
describes procedures for business
Management and Budget (OMB) for OMB Control Number: 1505–0218.
taxpayers, industry associations, and
review and clearance in accordance Title: Grants to States for Low-Income
other interested parties to submit issues
with the Paperwork Reduction Act of Housing Projects in lieu of Tax Credits.
for consideration under the Internal Abstract: Authorized under the
1995, Public Law 104–13, on or after the Revenue Service’s Industry Issue
date of publication of this notice. American Recovery and Reinvestment
Resolution (IIR) Program. The objective Act (ARRA) (Pub. L. 111–5), the
DATES: Comments should be received on of the IIR Program is to identify
or before March 2, 2016 to be assured Department of the Treasury
frequently disputed or burdensome tax implemented several provisions of the
of consideration. issues that are common to a significant
ADDRESSES: Send comments regarding
Act, more specifically Division B—Tax,
number of business taxpayers that may Unemployment, Health, State Fiscal
the burden estimates, or any other be resolved through published or other
aspect of the information collections, Relief, and Other Provisions. Among
administrative guidance. these components is a program which
including suggestions for reducing the Affected Public: Businesses or other
burden, to (1) Office of Information and requires Treasury to make payments, in
for-profits.
Regulatory Affairs, Office of lieu of a tax credit, to state housing
Estimated Average Annual Burden
Management and Budget, Attention: credit agencies. State housing credit
per Response: 40 hours.
Desk Officer for Treasury, New Estimated Total Annual Burden agencies use the funds to make
Executive Office Building, Room 10235, Hours: 2,000. subawards to finance the construction
Washington, DC 20503, or email at or acquisition and rehabilitation of
OIRA_Submission@OMB.EOP.gov and
Brenda Simms, qualified low-income buildings. The
(2) Treasury PRA Clearance Officer, Treasury PRA Clearance Officer. collection of information from the
1750 Pennsylvania Ave. NW., Suite [FR Doc. 2016–01710 Filed 1–29–16; 8:45 am] agencies is necessary to properly
8117, Washington, DC 20220, or email BILLING CODE 4810–01–P monitor compliance with program
at PRA@treasury.gov. requirements.
Type of Review: Extension of a
FOR FURTHER INFORMATION CONTACT:
DEPARTMENT OF THE TREASURY currently approved collection.
Copies of the submissions may be Affected Public: State, Local, or Tribal
obtained by emailing PRA@treasury.gov, Proposed Collection; Comment Governments.
calling (202) 622–1295, or viewing the Request Estimated Number of Respondents:
entire information collection request at 55.
www.reginfo.gov. Departmental Offices, Treasury.
AGENCY:
Estimated Annual Hours per
Internal Revenue Service (IRS) Notice and request for
ACTION: Response: 0.5 hours.
comments. Estimated Total Annual Burden
OMB Control Number: 1545–0166.
Type of Review: Extension of a Hours: 57.
SUMMARY: The Department of the
currently approved collection. Request for Comment: Comments
Treasury, as part of its continuing effort
Title: Recapture of Investment Credit. submitted in response to this notice will
to reduce paperwork and respondent
Abstract: Form 4255 is used to figure be summarized and included in the
burden, invites the general public and
the increase in tax for the recapture of request for Office of Management and
other Federal agencies to comment on
investment credit claimed and for the Budget approval. Comments may
an extension of an existing information
recapture of a qualifying therapeutic become a matter of public record. The
collection, as required by the Paperwork
discovery project grant. public is invited to submit comments
Reduction Act of 1995, Public Law 104–
Affected Public: Businesses or other concerning: (a) Whether the collection
13 (44 U.S.C. 3506(c)(2)(A)). Currently,
for-profits. of information is necessary for the
the Office of the Fiscal Assistant
Estimated Total Annual Burden proper performance of the functions of
Secretary, within the Department of the
Hours: 129,492. the agency, including whether the
Treasury, is soliciting comments
OMB Control Number: 1545–0195. information will have practical utility;
concerning grants to states for low-
Type of Review: Extension of a (b) the accuracy of the agency’s estimate
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income housing projects in lieu of tax
currently approved collection. of the burden of the collection of
credits.
Title: Election to Postpone information; (c) ways to enhance the
Determination as to Whether the DATES: Written comments should be quality, utility, and clarity of the
Presumption Applies that an activity is received on or before April 1, 2016 to information to be collected; (d) ways to
engaged in for profit. be assured of consideration. minimize the burden of the collection of
Abstract: Section 183 of the Internal ADDRESSES: Send comments regarding information on respondents, including
Revenue Code allows taxpayers to elect the burden estimate, or any other aspect the use of automated collection

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Federal Register / Vol. 81, No. 20 / Monday, February 1, 2016 / Notices 5165

techniques or other forms of information Estimated Total Annual Burden OMB Control Number: 1545–0996.
technology; and (e) estimates of capital Hours: 40,800. Type of Review: Extension of a
or start-up costs and costs of operation, OMB Control Number: 1545–0644. currently approved collection.
maintenance, and purchase of services Type of Review: Revision of a Title: REG–130477–00; REG–130481–
to provide information. currently approved collection. 00 (TD 8987—Final), Required
Dated: January 27, 2016. Title: Gains and Losses from Section Distributions From Retirement Plans.
1256 Contracts and Straddles. Abstract: The regulations relate to the
Brenda Simms,
Form: Form 6781. required minimum distribution from
Treasury PRA Clearance Officer.
Abstract: Form 6781 is used to report qualified plans, individual retirement
[FR Doc. 2016–01768 Filed 1–29–16; 8:45 am] plans, deferred compensation plans
any gain or loss on Internal Revenue
BILLING CODE 4810–25–P
Code section 1256 contracts under the under section 457, and section 403(b)
mark-to-market rules and gains and annuity contracts, custodial accounts,
losses under section 1092 from straddle and retirement income accounts.
DEPARTMENT OF THE TREASURY Affected Public: State, Local, or Tribal
positions.
Submission for OMB Review; Affected Public: Businesses or other Governments.
Comment Request for-profits. Estimated Total Annual Burden
Estimated Average Annual Burden Hours: 8,400.
January 26, 2016. per Response: 15.89 hours. OMB Control Number: 1545–1020.
The Department of the Treasury will Estimated Total Annual Burden Type of Review: Extension of a
submit the following information Hours: 903,236. currently approved collection.
collection requests to the Office of OMB Control Number: 1545–0745. Title: Form 1041–T—Allocation of
Management and Budget (OMB) for Type of Review: Extension of a Estimated Tax Payments to
review and clearance in accordance currently approved collection. Beneficiaries.
with the Paperwork Reduction Act of Title: LR–27–83 (TD 7882—final) Form: Form 1041–T.
1995, Public Law 104–13, on or after the Floor Stocks Credits or Refunds and Abstract: A trust or, for its final tax
date of publication of this notice. Consumer Credits or Refunds With year, a decedent’s estate may elect
DATES: Comments should be received on Respect to Certain Tax-Repealed under Internal Revenue Code section
or before March 2, 2016 to be assured Articles; Excise Tax on Heavy Trucks; 643(g) to have any part of its estimated
of consideration. LR–54–85 (TD 8050) Excise Tax. tax payments (but not income tax
ADDRESSES: Send comments regarding Abstract: LR–27–83 (TD 7882), withheld) treated as made by a
the burden estimates, or any other requires sellers of trucks, trailers and beneficiary or beneficiaries. The
aspect of the information collections, semitrailers, and tractors to maintain fiduciary files Form 1041–T to make the
including suggestions for reducing the records of the gross vehicle weights of election. Once made, the election is
burden, to (1) Office of Information and articles sold to verify taxability. LR–54– irrevocable.
Regulatory Affairs, Office of 85 (TD 8050), requires that if the sale is Affected Public: Businesses or other
Management and Budget, Attention: to be treated as exempt, the seller and for-profits.
Desk Officer for Treasury, New the purchaser must be registered and the Estimated Average Annual Burden
Executive Office Building, Room 10235, purchaser must give the seller a resale per Response: 0.99 hour.
Washington, DC 20503, or email at certificate. Estimated Total Annual Burden
OIRA_Submission@OMB.EOP.gov and Affected Public: Businesses or other Hours: 990.
(2) Treasury PRA Clearance Officer, for-profits. OMB Control Number: 1545–1131.
1750 Pennsylvania Ave. NW., Suite Estimated Total Annual Burden Type of Review: Extension of a
8117, Washington, DC 20220, or email Hours: 4,140. currently approved collection.
at PRA@treasury.gov. OMB Control Number: 1545–0887. Title: TD 8400—(Final) Taxation of
FOR FURTHER INFORMATION CONTACT: Type of Review: Extension of a Gain or Loss from Certain
Copies of the submissions may be currently approved collection. Nonfunctional Currency Transactions
obtained by emailing PRA@treasury.gov, Title: Information Return for Publicly (Section 988 Transactions).
calling (202) 622–1295, or viewing the Offered Original Issue Discount Abstract: TD 8400 contains final
entire information collection request at Instruments. regulations regarding the taxation of
www.reginfo.gov. Form: Form 8281. gain or loss from certain foreign
Abstract: Form 8281 is filed by the currency transactions and applies to
Internal Revenue Service (IRS) issuer of a publicly offered debt taxpayers engaging in such transactions.
OMB Control Number: 1545–0239. instrument having OID. The information Section 988 of the Internal Revenue
Type of Review: Extension of a is used to update Pub. 1212, Guide to Code concerns the taxation of exchange
currently approved collection. Original Issue Discount (OID) gain or loss on certain foreign currency
Title: Statement by Person(s) Instruments, to enable brokers and other denominated transactions. Such gains
Receiving Gambling Winnings. middlemen to identify publicly traded and losses are characterized as ordinary
Form: Form 5754. OID obligations, which they may hold income or loss. However, under section
Abstract: Form 5754 is completed by as nominees for the true owners, so that 988(a)(1)(B) taxpayers may elect to
taxpayers who receive gambling they can meet the requirement to file characterize exchange gain or loss on
winnings either for someone else or as Forms 1099–INT and 1099–OID as certain transactions as capital gain or
rmajette on DSK2TPTVN1PROD with NOTICES

a member of a group of two or more required by section 6049. loss. Section 1.988–3(b) of the
people sharing the winnings, such as by Affected Public: Businesses or other regulations provides the procedure for
sharing the same winning ticket. for-profits. making the election. Under section
Affected Public: Individuals or Estimated Average Annual Burden 988(c)(1)(D)(ii), taxpayers may elect to
households. per Response: 6.12 hours. have regulated futures contracts and
Estimated Average Annual Burden Estimated Total Annual Burden certain options (which generally are not
per Response: 12 minutes. Hours: 3.060. subject to section 988) treated as section

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Document Created: 2016-01-30 01:17:04
Document Modified: 2016-01-30 01:17:04

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 April 1, 2016 to be assured of consideration.
Contact		Requests for additional information should be directed to Sustanchia Gladden, Department of the Treasury, 1500 Pennsylvania Avenue NW., Room 1050, Washington, DC 20020 or to [email protected]
FR Citation		81 FR 5164