81 FR 79117 - Proposed Collection; Comment Request for Regulation Project

DEPARTMENT OF THE TREASURY
Internal Revenue Service

Federal Register Volume 81, Issue 218 (November 10, 2016)

Page Range		79117-79118
FR Document		2016-27103

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 TD 8449, Election, Revocation, Termination, and Tax Effect of Subchapter S Status.

Federal Register, Volume 81 Issue 218 (Thursday, November 10, 2016)

[Federal Register Volume 81, Number 218 (Thursday, November 10, 2016)]
[Notices]
[Pages 79117-79118]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-27103]


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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 TD 
8449, Election, Revocation, Termination, and Tax Effect of Subchapter S 
Status.

DATES: Written comments should be received on or before January 9, 2017 
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 regulation should be directed to Martha R. Brinson, 
Internal Revenue Service, Room 6129, 1111 Constitution Avenue NW., 
Washington,

[[Page 79118]]

DC 20224, or through the Internet at [email protected].

SUPPLEMENTARY INFORMATION: 
    Title: Election, Revocation, Termination, and Tax Effect of 
Subchapter S Status.
    OMB Number: 1545-1308.
    Regulation Project Number: TD 8449.
    Abstract: Section 1362 of the Internal Revenue Code provides for 
the election, termination, and tax effect of subchapter S status. 
Sections 1.1362-1 through 1.1362-7 of this regulation provides the 
specific procedures and requirements necessary to implement Code 
section 1362, including the filing of various elections and statements 
with the Internal Revenue Service.
    Current Actions: There is no change in the paperwork burden 
previously approved by OMB.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals or households, business or other for-
profit organizations, and farms.
    Estimated Number of Respondents: 133.
    Estimated Time per Respondent: 2 hours, 25 minutes.
    Estimated Total Annual Burden Hours: 322.
    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 
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: October 18, 2016.
Tuawana Pinkston,
IRS Reports Clearance Officer.
[FR Doc. 2016-27103 Filed 11-9-16; 8:45 am]
 BILLING CODE 4830-01-P

Federal Register / Vol. 81, No. 218 / Thursday, November 10, 2016 / Notices 79117

Last name First name Middle name/initials

WILLIAMS .......................................................... KATHARINA ..................................................... ESTELL PATRICIA
WILLIAMS .......................................................... TINA ................................................................. WATTS
WILLIAMSON ..................................................... DOUGLAS ........................................................ WAYNE
WILLIS ............................................................... BARBARA
WILLIS ............................................................... RANDOLPH ..................................................... KENT
WILLMOTT ......................................................... GLENN ............................................................. ALLAN
WILSON ............................................................. CHARLES ........................................................ HAMANN
WILSON ............................................................. CHRISTOPHER ............................................... ROBERTSON
WILSON ............................................................. CYNTHIA .......................................................... ANN
WILSON ............................................................. JANE ................................................................ ELIZABETH
WINEGARTEN ................................................... AVRIL ............................................................... RUTH
WINGFIELD ....................................................... ANNA
WINSLADE ........................................................ PAUL ................................................................ ELLIOTT
WINTER ............................................................. MARK
WIRTH ............................................................... CHRISTIAN ...................................................... NIKLAUS
WOLCOUGH ...................................................... VICTORIA ........................................................ WENDELL
WOLF ................................................................. SABINE ............................................................ EVA
WOLFE .............................................................. CHRISTINA ...................................................... ROSEMARY SARA
WONG ................................................................ GLENN ............................................................. TULSA
WONG ................................................................ SO .................................................................... NUI AMY
WONG ................................................................ VINCENT .......................................................... HIN KEI
WOOD ................................................................ JOHN ................................................................ FIRBANK
WOOD ................................................................ MARGARET ..................................................... SUSAN
WOODFORD-HOLLICK ..................................... GEORGINA
WOODRUFF ...................................................... PETER ............................................................. ARTHUR
WOODWORTH .................................................. VIRGINIA .......................................................... RENNEE
WOU .................................................................. CONSTANCE ................................................... CHEN-HWA
WRIGHT ............................................................. ALISON ............................................................ GRACE
WRIGHT ............................................................. TIMOTHY ......................................................... JAMES
WRINKLE ........................................................... GAIL ................................................................. ERIN KELLY
WU ..................................................................... SELENA ........................................................... TSAN
WUTHOLEN ....................................................... MARINA ........................................................... VALERIE
WUWER ............................................................. JACEK .............................................................. MARIUSZ
WYVILL .............................................................. SHAUN ............................................................. PETER
YALAMANCHILI ................................................. SUSHMA .......................................................... S
YANG ................................................................. YU .................................................................... CHING
YAP .................................................................... PAULINE
YASSIN .............................................................. NA’AMAN ......................................................... H
YAU .................................................................... EMILY ............................................................... GUADALUPE
YEUNG .............................................................. JASPER
YI ........................................................................ SUNG ............................................................... HI
YU ...................................................................... PIK .................................................................... KI
YU ...................................................................... SUK .................................................................. HUI
ZABOLOTSKIKH ................................................ ALEXEY
ZANDER ............................................................ ELIZABETH ...................................................... JANE
ZAYAC ............................................................... SUCHONG ....................................................... CHAE
ZEHNDER .......................................................... REGINA ............................................................ JOAN
ZESCHIN ........................................................... ELIZABETH ...................................................... ANNE
ZHU .................................................................... SU
ZINSER .............................................................. EMILY ............................................................... CLAIRE
ZURMUEHLE ..................................................... CINDY .............................................................. LOUISE
ZWAHLEN .......................................................... JUDIT ............................................................... CECILIA

Dated: October 24, 2016. Notice and request for
ACTION: Termination, and Tax Effect of
Maureen Manieri, comments. Subchapter S Status.
Manager Classification Team 82413,
Examinations Operations—Philadelphia
DATES: Written comments should be
SUMMARY: The Department of the received on or before January 9, 2017 to
Compliance Services. Treasury, as part of its continuing effort
[FR Doc. 2016-27108 Filed 11-9-16; 8:45 am]
be assured of consideration.
to reduce paperwork and respondent
BILLING CODE 4830-01-P burden, invites the general public and ADDRESSES: Direct all written comments
other Federal agencies to take this to Tuawana Pinkston, Internal Revenue
asabaliauskas on DSK3SPTVN1PROD with NOTICES

opportunity to comment on proposed Service, Room 6526, 1111 Constitution
DEPARTMENT OF THE TREASURY Avenue NW., Washington, DC 20224.
and/or continuing information
Internal Revenue Service collections, as required by the FOR FURTHER INFORMATION CONTACT:
Paperwork Reduction Act of 1995, Requests for additional information or
Proposed Collection; Comment Public Law 104–13 (44 U.S.C. copies of the regulation should be
Request for Regulation Project 3506(c)(2)(A)). Currently, the IRS is directed to Martha R. Brinson, Internal
soliciting comments concerning TD Revenue Service, Room 6129, 1111
AGENCY: Internal Revenue Service (IRS),
Treasury. 8449, Election, Revocation, Constitution Avenue NW., Washington,

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79118 Federal Register / Vol. 81, No. 218 / Thursday, November 10, 2016 / Notices

DC 20224, or through the Internet at Approved: October 18, 2016. Estimated Number of Respondents:
Martha.R.Brinson@irs.gov. Tuawana Pinkston, 2,000.
SUPPLEMENTARY INFORMATION: IRS Reports Clearance Officer. Estimated Time per Respondent: 21
Title: Election, Revocation, [FR Doc. 2016–27103 Filed 11–9–16; 8:45 am] hours, 6 minutes.
Termination, and Tax Effect of BILLING CODE 4830–01–P
Estimated Total Annual Reporting
Subchapter S Status. Burden Hours: 42,220.
OMB Number: 1545–1308. The following paragraph applies to all
Regulation Project Number: TD 8449. DEPARTMENT OF THE TREASURY of the collections of information covered
Abstract: Section 1362 of the Internal by this notice:
Revenue Code provides for the election, Internal Revenue Service An agency may not conduct or
termination, and tax effect of subchapter sponsor, and a person is not required to
Proposed Collection; Comment respond to, a collection of information
S status. Sections 1.1362–1 through
Request for Form 970 unless the collection of information
1.1362–7 of this regulation provides the
specific procedures and requirements displays a valid OMB control number.
AGENCY: Internal Revenue Service (IRS), Books or records relating to a collection
necessary to implement Code section Treasury.
1362, including the filing of various of information must be retained as long
ACTION: Notice and request for as their contents may become material
elections and statements with the comments.
Internal Revenue Service. in the administration of any internal
Current Actions: There is no change revenue law. Generally, tax returns and
SUMMARY: The Department of the
in the paperwork burden previously tax return information are confidential,
Treasury, as part of its continuing effort
approved by OMB. as required by 26 U.S.C. 6103.
to reduce paperwork and respondent Request for Comments: Comments
Type of Review: Extension of a burden, invites the general public and submitted in response to this notice will
currently approved collection. other Federal agencies to take this be summarized and/or included in the
Affected Public: Individuals or opportunity to comment on proposed request for OMB approval. All
households, business or other for-profit and/or continuing information comments will become a matter of
organizations, and farms. collections, as required by the public record. Comments are invited on:
Estimated Number of Respondents: Paperwork Reduction Act of 1995, (a) Whether the collection of
133. Public Law 104–13 (44 U.S.C. information is necessary for the proper
Estimated Time per Respondent: 2 3506(c)(2)(A)). Currently, the IRS is performance of the functions of the
hours, 25 minutes. soliciting comments concerning Form agency, including whether the
Estimated Total Annual Burden 970, Application To Use LIFO Inventory information shall have practical utility;
Hours: 322. Method. (b) the accuracy of the agency’s estimate
An agency may not conduct or DATES: Written comments should be of the burden of the collection of
sponsor, and a person is not required to received on or before January 9, 2017 to information; (c) ways to enhance the
respond to, a collection of information be assured of consideration. quality, utility, and clarity of the
unless the collection of information
ADDRESSES: Direct all written comments information to be collected; (d) ways to
displays a valid OMB control number.
to Tuawana Pinkston, Internal Revenue minimize the burden of the collection of
Books or records relating to a collection
Service, Room 6526, 1111 Constitution information on respondents, including
of information must be retained as long
Avenue NW., Washington, DC 20224. through the use of automated collection
as their contents may become material
FOR FURTHER INFORMATION CONTACT: techniques or other forms of information
in the administration of any internal
Requests for additional information or technology; and (e) estimates of capital
revenue law. Generally, tax returns and
copies of the form and instructions or start-up costs and costs of operation,
tax return information are confidential,
should be directed to LaNita VanDyke, maintenance, and purchase of services
as required by 26 U.S.C. 6103.
Internal Revenue Service, Room 6526, to provide information.
Request for Comments: Comments
submitted in response to this notice will 1111 Constitution Avenue NW., Approved: November 1, 2016.
be summarized and/or included in the Washington, DC 20224, or through the Tuawana Pinkston,
request for OMB approval. All internet at Lanita.VanDyke@irs.gov. IRS Reports Clearance Officer.
comments will become a matter of SUPPLEMENTARY INFORMATION: [FR Doc. 2016–27098 Filed 11–9–16; 8:45 am]
public record. Comments are invited on: Title: Application To Use LIFO BILLING CODE 4830–01–P
(a) Whether the collection of Inventory Method.
information is necessary for the proper OMB Number: 1545–0042.
performance of the functions of the Form Number: Form 970. DEPARTMENT OF THE TREASURY
agency, including whether the Abstract: Form 970 is filed by
information shall have practical utility; individuals, partnerships, trusts, estates, Internal Revenue Service
(b) the accuracy of the agency’s estimate or corporations to elect to use the last-
of the burden of the collection of in first-out (LIFO) inventory method or Proposed Collection; Comment
information; (c) ways to enhance the to extend the LIFO method to additional Request for Regulation Project
quality, utility, and clarity of the goods. The IRS uses Form 970 to AGENCY: Internal Revenue Service (IRS),
information to be collected; (d) ways to determine if the election was properly
asabaliauskas on DSK3SPTVN1PROD with NOTICES

Treasury.
minimize the burden of the collection of made. ACTION: Notice and request for
information on respondents, including Current Actions: There are no changes comments.
through the use of automated collection being made to Form 970 at this time.
techniques or other forms of information Type of Review: Extension of a SUMMARY: The Department of the
technology; and (e) estimates of capital currently approved collection. Treasury, as part of its continuing effort
or start-up costs and costs of operation, Affected Public: Business or other for- to reduce paperwork and respondent
maintenance, and purchase of services profit organizations and individual or burden, invites the general public and
to provide information. households. other Federal agencies to take this

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Document Created: 2016-11-10 01:44:11
Document Modified: 2016-11-10 01:44:11

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 January 9, 2017 to be assured of consideration.
Contact		Requests for additional information or copies of the regulation should be directed to Martha R. Brinson, Internal Revenue Service, Room 6129, 1111 Constitution Avenue NW., Washington, DC 20224, or through the Internet at [email protected]
FR Citation		81 FR 79117

81 FR 79117 - Proposed Collection; Comment Request for Regulation Project

DEPARTMENT OF THE TREASURYInternal Revenue Service

Federal Register Volume 81, Issue 218 (November 10, 2016)

DEPARTMENT OF THE TREASURY
Internal Revenue Service