81_FR_51986 81 FR 51835 - Election Into the Partnership Audit Regime Under the Bipartisan Budget Act of 2015

81 FR 51835 - Election Into the Partnership Audit Regime Under the Bipartisan Budget Act of 2015

DEPARTMENT OF THE TREASURY
Internal Revenue Service

Federal Register Volume 81, Issue 151 (August 5, 2016)

Page Range51835-51836
FR Document2016-18632

This document contains proposed regulations pursuant to section 1101(g)(4) of the Bipartisan Budget Act of 2015 regarding an election to apply the new partnership audit regime enacted by that act to certain returns of a partnership. The regulations provide the time, form, and manner for making this election. The regulations affect any partnership that wishes to elect to have the new partnership audit regime apply to its returns filed for certain taxable years beginning before January 1, 2018.

Federal Register, Volume 81 Issue 151 (Friday, August 5, 2016) 
[Federal Register Volume 81, Number 151 (Friday, August 5, 2016)]
[Proposed Rules]
[Pages 51835-51836]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-18632]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 301

[REG-105005-16]
RIN 1545-BN33


Election Into the Partnership Audit Regime Under the Bipartisan 
Budget Act of 2015

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice of proposed rulemaking by cross-reference to temporary 
regulations.

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SUMMARY: This document contains proposed regulations pursuant to 
section 1101(g)(4) of the Bipartisan Budget Act of 2015 regarding an 
election to apply the new partnership audit regime enacted by that act 
to certain returns of a partnership. The regulations provide the time, 
form, and manner for making this election. The regulations affect any 
partnership that wishes to elect to have the new partnership audit 
regime apply to its returns filed for certain taxable years beginning 
before January 1, 2018.

DATES: Written or electronic comments and requests for a public hearing 
must be received by October 4, 2016.

ADDRESSES: Send submissions to: CC:PA:LPD:PR (REG-105005-16), Room 
5207, Internal Revenue Service, P.O. Box 7604, Ben Franklin Station, 
Washington, DC 20044. Submissions may be hand delivered Monday through 
Friday between the hours of 8 a.m. and 4 p.m. to: CC:PA:LPD:PR (REG-
105005-16), Courier's Desk, Internal Revenue Service, 1111 Constitution 
Avenue NW., Washington, DC 20224, or sent electronically via the 
Federal eRulemaking Portal at http://www.regulations.gov (IRS REG-
105005-16). The public hearing will be held in the Auditorium, Internal 
Revenue Service Building, 1111 Constitution Avenue NW., Washington, DC 
20224.

FOR FURTHER INFORMATION CONTACT: Jenni M. Black at (202) 317-6834 (not 
a toll-free number).

Background and Explanation of Provisions

    This notice of proposed rulemaking cross-references to temporary 
regulations published in the Rules and Regulations section of this 
issue of the Federal Register. The temporary regulations amend the 
Procedure and Administration Regulations (26 CFR part 301) to provide 
rules for the time, form, and manner of making the election under 
section 1101(g)(4) of the Bipartisan Budget Act of 2015, Public Law 
114-74 (BBA) for taxable years beginning after November 2, 2015 and 
before January 1, 2018. The BBA was enacted on November 2, 2015, and 
was amended by the Protecting Americans from Tax Hikes Act of 2015, 
Public Law 114-113, div. Q (PATH Act) on December 18, 2015.
    The text of the temporary regulations also serves as the text of 
these proposed regulations. The Background and Explanation of 
Provisions contained in the preamble to the temporary regulations 
explains these proposed regulations.

Special Analyses

    Certain IRS regulations, including this one, are exempt from the 
requirements of Executive Order 12866, as supplemented and reaffirmed 
by Executive Order 13563. Therefore, a regulatory impact assessment is 
not required.
    Pursuant to the Regulatory Flexibility Act (5 U.S.C. chapter 6), it 
is hereby certified that the collection of information contained in 
this regulation will not have a significant economic impact on a 
substantial number of small entities. This certification is based on 
the fact that the collection of information contained in this 
regulation is voluntary and will only occur if a partnership elects 
into the new partnership audit regime enacted by the BBA for taxable 
years beginning after November 2, 2015 and before January 1, 2018. In 
addition, the new partnership audit regime is new, and the IRS has yet 
to provide guidance on the application of the new partnership audit 
regime generally. As a result, the IRS estimates that there will not be 
a substantial number of small entities that elect into the regime for 
an eligible taxable year. However, even if a substantial number of 
small entities elect into the new BBA regime for an eligible taxable 
year, the election under this regulation requires only a short 
statement containing limited and readily available information. 
Therefore, the IRS estimates that the economic impact on electing small 
entities will not be significant. Accordingly, a regulatory flexibility 
analysis is not required.
    Pursuant to section 7805(f) of the Code, these regulations were 
submitted to the Chief Counsel for Advocacy of the Small Business 
Administration for comment on its impact on small business.

Comments and Request for a Public Hearing

    Before these proposed regulations are adopted as final regulations, 
consideration will be given to any electronic and written comments (a 
signed original and eight (8) copies) that are submitted timely to the 
IRS. The IRS and Treasury request comments on all aspects of the 
proposed rules. All comments will be available for public inspection 
and copying. A public hearing may be scheduled if requested in writing 
by a person that timely submits written comments. If a public hearing 
is scheduled, notice of the date, time, and place of the hearing will 
be published in the Federal Register.

Drafting Information

    The principal author of these proposed regulations is Jenni M. 
Black of the Office of the Associate Chief Counsel (Procedure and 
Administration). However, other personnel from the Treasury Department 
and the IRS participated in their development.

List of Subjects in 26 CFR Part 301

    Income taxes, Penalties, Reporting and recordkeeping requirements.

Proposed Amendments to the Regulations

    Accordingly, 26 CFR part 301 is amended as follows:

PART 301--PROCEDURE AND ADMINISTRATION

0
Paragraph 1. The authority citation for part 301 is amended by adding 
an entry in numerical order to read as follows:

    Authority: 26 U.S.C. 7805 * * *
* * * * *
    Section 301.9100-22 also issued under section 1101(g)(4) of Pub. 
L. 114-74.
* * * * *
0
Par. 2. Section 301.9100-22 is added to read as follows:


Sec.  301.9100-22  Time, form, and manner of making the election under 
section 1101(g)(4) of the Bipartisan Budget Act of 2015 for taxable 
years beginning after November 2, 2015 and before January 1, 2018.

    [The text of this proposed section is the same as the text of Sec.  
301.9100-22T

[[Page 51836]]

published elsewhere in this issue of the Federal Register].

John Dalrymple,
Deputy Commissioner for Services and Enforcement.
[FR Doc. 2016-18632 Filed 8-4-16; 8:45 am]
 BILLING CODE 4830-01-P

Federal Register / Vol. 81, No. 151 / Friday, August 5, 2016 / Proposed Rules 51835 Appendix to Commodity Pool Operator Background and Explanation of significant. Accordingly, a regulatory Annual Report—Commission Voting Provisions flexibility analysis is not required. Summary Pursuant to section 7805(f) of the This notice of proposed rulemaking Code, these regulations were submitted On this matter, Chairman Massad and cross-references to temporary to the Chief Counsel for Advocacy of the Commissioners Bowen and Giancarlo voted regulations published in the Rules and in the affirmative. No Commissioner voted in Small Business Administration for Regulations section of this issue of the the negative. comment on its impact on small Federal Register. The temporary business. [FR Doc. 2016–18400 Filed 8–4–16; 8:45 am] regulations amend the Procedure and BILLING CODE 6351–01–P Administration Regulations (26 CFR Comments and Request for a Public part 301) to provide rules for the time, Hearing form, and manner of making the Before these proposed regulations are DEPARTMENT OF THE TREASURY election under section 1101(g)(4) of the adopted as final regulations, Bipartisan Budget Act of 2015, Public consideration will be given to any Internal Revenue Service Law 114–74 (BBA) for taxable years electronic and written comments (a beginning after November 2, 2015 and signed original and eight (8) copies) that 26 CFR Part 301 before January 1, 2018. The BBA was are submitted timely to the IRS. The IRS [REG–105005–16] enacted on November 2, 2015, and was and Treasury request comments on all amended by the Protecting Americans aspects of the proposed rules. All RIN 1545–BN33 from Tax Hikes Act of 2015, Public Law comments will be available for public 114–113, div. Q (PATH Act) on inspection and copying. A public Election Into the Partnership Audit December 18, 2015. Regime Under the Bipartisan Budget hearing may be scheduled if requested The text of the temporary regulations in writing by a person that timely Act of 2015 also serves as the text of these proposed submits written comments. If a public AGENCY: Internal Revenue Service (IRS), regulations. The Background and hearing is scheduled, notice of the date, Treasury. Explanation of Provisions contained in time, and place of the hearing will be the preamble to the temporary published in the Federal Register. ACTION: Notice of proposed rulemaking regulations explains these proposed by cross-reference to temporary Drafting Information regulations. regulations. Special Analyses The principal author of these SUMMARY: This document contains proposed regulations is Jenni M. Black proposed regulations pursuant to Certain IRS regulations, including this of the Office of the Associate Chief section 1101(g)(4) of the Bipartisan one, are exempt from the requirements Counsel (Procedure and Budget Act of 2015 regarding an of Executive Order 12866, as Administration). However, other election to apply the new partnership supplemented and reaffirmed by personnel from the Treasury audit regime enacted by that act to Executive Order 13563. Therefore, a Department and the IRS participated in certain returns of a partnership. The regulatory impact assessment is not their development. regulations provide the time, form, and required. Pursuant to the Regulatory Flexibility List of Subjects in 26 CFR Part 301 manner for making this election. The regulations affect any partnership that Act (5 U.S.C. chapter 6), it is hereby Income taxes, Penalties, Reporting wishes to elect to have the new certified that the collection of and recordkeeping requirements. partnership audit regime apply to its information contained in this regulation will not have a significant economic Proposed Amendments to the returns filed for certain taxable years Regulations beginning before January 1, 2018. impact on a substantial number of small entities. This certification is based on Accordingly, 26 CFR part 301 is DATES: Written or electronic comments amended as follows: the fact that the collection of and requests for a public hearing must information contained in this regulation be received by October 4, 2016. is voluntary and will only occur if a PART 301—PROCEDURE AND ADDRESSES: Send submissions to: partnership elects into the new ADMINISTRATION CC:PA:LPD:PR (REG–105005–16), Room partnership audit regime enacted by the 5207, Internal Revenue Service, P.O. ■ Paragraph 1. The authority citation BBA for taxable years beginning after for part 301 is amended by adding an Box 7604, Ben Franklin Station, November 2, 2015 and before January 1, Washington, DC 20044. Submissions entry in numerical order to read as 2018. In addition, the new partnership follows: may be hand delivered Monday through audit regime is new, and the IRS has yet Friday between the hours of 8 a.m. and to provide guidance on the application Authority: 26 U.S.C. 7805 * * * 4 p.m. to: CC:PA:LPD:PR (REG–105005– of the new partnership audit regime * * * * * 16), Courier’s Desk, Internal Revenue generally. As a result, the IRS estimates Section 301.9100–22 also issued under Service, 1111 Constitution Avenue NW., that there will not be a substantial section 1101(g)(4) of Pub. L. 114–74. Washington, DC 20224, or sent number of small entities that elect into * * * * * electronically via the Federal the regime for an eligible taxable year. ■ Par. 2. Section 301.9100–22 is added eRulemaking Portal at http:// However, even if a substantial number to read as follows: mstockstill on DSK3G9T082PROD with PROPOSALS www.regulations.gov (IRS REG–105005– of small entities elect into the new BBA § 301.9100–22 Time, form, and manner of 16). The public hearing will be held in regime for an eligible taxable year, the making the election under section the Auditorium, Internal Revenue election under this regulation requires 1101(g)(4) of the Bipartisan Budget Act of Service Building, 1111 Constitution only a short statement containing 2015 for taxable years beginning after Avenue NW., Washington, DC 20224. limited and readily available November 2, 2015 and before January 1, FOR FURTHER INFORMATION CONTACT: information. Therefore, the IRS 2018. Jenni M. Black at (202) 317–6834 (not a estimates that the economic impact on [The text of this proposed section is toll-free number). electing small entities will not be the same as the text of § 301.9100–22T VerDate Sep<11>2014 16:15 Aug 04, 2016 Jkt 238001 PO 00000 Frm 00024 Fmt 4702 Sfmt 4702 E:\FR\FM\05AUP1.SGM 05AUP1

51836 Federal Register / Vol. 81, No. 151 / Friday, August 5, 2016 / Proposed Rules published elsewhere in this issue of the addition, during the comment period, even if the test result is negative, unless Federal Register]. comments may be viewed online VA first obtains a specific written through the Federal Docket Management authorization that meets title 38 John Dalrymple, System at www.Regulations.gov. regulatory requirements from the Deputy Commissioner for Services and veteran to share the medical FOR FURTHER INFORMATION CONTACT: Enforcement. Stephania H. Griffin, Director, information. Medical information [FR Doc. 2016–18632 Filed 8–4–16; 8:45 am] sharing is crucial to treating a veteran Information Access and Privacy Office BILLING CODE 4830–01–P (10P2C), Department of Veterans Affairs, who has outside medical providers and 810 Vermont Avenue NW., Washington, is significant in making certain that a DC 20420; (704) 245–2492. (This is not veteran is not prescribed a medication DEPARTMENT OF VETERANS a toll-free number.) that may negatively interact with other AFFAIRS SUPPLEMENTARY INFORMATION: The medications. Under section 7332, sickle Veterans Omnibus Health Care Act of cell anemia is also considered protected 38 CFR Part 17 1976, Public Law 94–581, codified at 38 medical information. As with negative RIN 2900–AP73 U.S.C. 7332, ensured confidentiality of HIV test results, the prohibition on medical records relating to drug abuse, sharing negative test results for sickle Release of VA Records Relating to HIV alcoholism, and sickle cell anemia by cell anemia has posed challenges for the establishing sanctions for unauthorized timely provision of medical care. This AGENCY: Department of Veterans Affairs. disclosure of information while meeting rulemaking would eliminate the current ACTION: Proposed rule. the legitimate needs for disclosure restrictions on sharing negative test under certain conditions. In 1988, results of veterans for HIV and sickle SUMMARY: The Department of Veterans cell anemia and would be in line with Public Law 100–322 added to this list Affairs (VA) proposes to amend its the intent of the statute. As for positive the confidentiality of medical records medical regulations governing the HIV or sickle cell anemia test results, relating to infection with the human release of VA medical records. VA would continue to require a immunodeficiency virus (HIV). Section Specifically, VA proposes to eliminate qualifying written authorization from 7332 states that records of the identity, the restriction on protecting a negative the veteran prior to disclosure of such diagnosis, prognosis, or treatment of any test result for the human information. patient or subject which are maintained immunodeficiency virus (HIV). HIV in connection with the performance of Section 1.460 Definitions testing is a common practice today in any program or activity (including Section 1.460 defines terms that apply healthcare and the stigma of testing that education, training, treatment, to §§ 1.460 through 1.499, which cover may have been seen in the 1980s when rehabilitation, or research) of any the release of information from VA HIV was first discovered is no longer patient or subject relating to drug abuse, records relating to drug abuse, prevalent. Continuing to protect alcoholism or alcohol abuse, infection alcoholism or alcohol abuse, infection negative HIV tests causes delays and an with the human immunodeficiency with HIV, or sickle cell anemia. The unnecessary burden to veterans when virus (HIV), or sickle cell anemia shall term ‘‘HIV’’ is defined as the presence VA tries to share electronic medical only be disclosed under certain of laboratory evidence for human information with the veterans’ outside circumstances. The intent of section immunodeficiency virus infection. The providers for their treatment through 7332 is to protect the medical records of definition for ‘‘HIV’’ also states that health information exchange efforts. For those veterans who are undergoing ‘‘[f]or the purposes of §§ 1.460 through this same reason, VA would also treatment or have a positive diagnosis 1.499 of this part, the term includes the eliminate negative test results of sickle for the conditions stated in this section. testing of an individual for the presence cell anemia as protected medical Due to the stigma associated with HIV of the virus or antibodies to the virus information. This proposed rule would and HIV testing at the time, VA and information related to such testing eliminate the current barriers to determined that the results of HIV (including tests with negative results).’’ electronic medical information testing should be protected regardless of We propose to modify this definition exchange. the outcome of the test. However, HIV because VA would only restrict the DATES: Comments must be received on testing is common practice today. In the release of health information for or before October 4, 2016. past, VA required health care providers positive results. The proposed ADDRESSES: Written comments may be to counsel patients as part of the definition would define ‘‘HIV’’ to mean submitted through informed consent process prior to ‘‘the presence of laboratory evidence for www.Regulations.gov; by mail or hand- ordering HIV testing. Currently, HIV human immunodeficiency virus delivery to Director, Regulation Policy testing is considered part of routine infection. The term does not include and Management (00REG), Department health care under VA policy, similar to negative results from the testing of an of Veterans Affairs, 810 Vermont other types of diagnostic laboratory individual for the presence of the virus Avenue NW., Room 1068, Washington, testing, and while oral informed consent or antibodies to the virus, or such DC 20420; or by fax to (202) 273–9026. is still required no pre-testing testing of an individual where the Comments should indicate that they are counseling is required. results are negative.’’ As previously submitted in response to ‘‘RIN 2900– The continued protection of negative stated in this rulemaking, negative AP73—Release of VA Records Relating HIV tests has posed significant obstacles results are not protected under this mstockstill on DSK3G9T082PROD with PROPOSALS to HIV.’’ Copies of comments received to the sharing of medical information provision. will be available for public inspection in between VA and non-VA medical The term ‘‘patient’’ is defined in part the Office of Regulation Policy and providers, and also places an undue in § 1.460 to state that it includes an Management, Room 1068, between the burden on veterans. If VA conducts an individual or subject who is tested for hours of 8 a.m. and 4:30 p.m., Monday HIV test on a veteran, VA is prevented infection with HIV or sickle cell anemia. through Friday (except holidays). Please from electronically disclosing the We propose to amend this definition to call (202) 461–4902 for an appointment. veteran’s medical information to the state that the term ‘patient’ for purpose (This is not a toll-free number.) In veteran’s non-VA medical provider, of infection with the human immune VerDate Sep<11>2014 16:15 Aug 04, 2016 Jkt 238001 PO 00000 Frm 00025 Fmt 4702 Sfmt 4702 E:\FR\FM\05AUP1.SGM 05AUP1


Document Created: 2016-08-05 06:43:22
Document Modified: 2016-08-05 06:43:22
CategoryRegulatory Information
CollectionFederal Register
sudoc ClassAE 2.7:
GS 4.107:
AE 2.106:
PublisherOffice of the Federal Register, National Archives and Records Administration
SectionProposed Rules
ActionNotice of proposed rulemaking by cross-reference to temporary regulations.
DatesWritten or electronic comments and requests for a public hearing must be received by October 4, 2016.
ContactJenni M. Black at (202) 317-6834 (not a toll-free number).
FR Citation81 FR 51835 
RIN Number1545-BN33
CFR AssociatedIncome Taxes; Penalties and Reporting and Recordkeeping Requirements
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