81 FR 71791 - Submission for OMB Review; Comment Request

DEPARTMENT OF THE TREASURY

Federal Register Volume 81, Issue 201 (October 18, 2016)

The Department of the Treasury will submit the following information collection requests to the Office of Management and Budget (OMB) for review and clearance in accordance with the Paperwork Reduction Act of 1995, Public Law 104-13, on or after the date of publication of this notice.

[Federal Register Volume 81, Number 201 (Tuesday, October 18, 2016)]
[Notices]
[Pages 71791-71792]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-25184]


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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

October 13, 2016.
SUMMARY: The Department of the Treasury will submit the following 
information collection requests to the Office of Management and Budget 
(OMB) for review and clearance in accordance with the Paperwork 
Reduction Act of 1995, Public Law 104-13, on or after the date of 
publication of this notice.

DATES: Comments should be received on or before November 17, 2016 to be 
assured of consideration.

[[Page 71792]]


ADDRESSES: Send comments regarding the burden estimates, or any other 
aspect of the information collections, including suggestions for 
reducing the burden, to (1) Office of Information and Regulatory 
Affairs, Office of Management and Budget, Attention: Desk Officer for 
Treasury, New Executive Office Building, Room 10235, Washington, DC 
20503, or email at [email protected] and (2) Treasury PRA 
Clearance Officer, 1750 Pennsylvania Ave. NW., Suite 8117, Washington, 
DC 20220, or email at [email protected].

FOR FURTHER INFORMATION CONTACT: Copies of the submissions may be 
obtained by emailing [email protected], calling (202) 622-0934, or 
viewing the entire information collection request at www.reginfo.gov.

SUPPLEMENTARY INFORMATION:

Internal Revenue Service (IRS)

    OMB Control Number: 1545-0735.
    Type of Review: Extension of a currently approved collection.
    Title: Final Amortization of Reforestation Expenditures (TD 7927).
    Abstract: A taxpayer elects to claim a section 194 deduction by 
entering the deduction of reforestation expenditures on the taxpayer's 
income tax return (Form 1040 for individuals and Form 1120 for 
corporations) or, for a taxpayer engaged in the trade or business of 
timber production, by claiming the deduction on the Form T. A taxpayer 
must attach a statement with the information required in section 1.194-
4(a) of the regulations to support the determination that expenditures 
qualify under section 194.
    Affected Public: Individuals or households.
    Estimated Total Annual Burden Hours: 6,001.

    OMB Control Number: 1545-1480.
    Type of Review: Reinstatement of a previously approved collection.
    Title: TD 8985--Hedging Transactions.
    Abstract: The information collection is required by the IRS to aid 
it in administering the law and to prevent manipulation. The 
information will be used to verify that a taxpayer is properly 
reporting its business hedging transactions.
    Affected Public: Businesses or other for-profits.
    Estimated Total Annual Burden Hours: 171,050.

Brenda Simms,
Treasury PRA Clearance Officer.
[FR Doc. 2016-25184 Filed 10-17-16; 8:45 am]
 BILLING CODE 4830-01-P