82_FR_21543 82 FR 21456 - Proposed Collection; Comment Request for Form 4952

82 FR 21456 - Proposed Collection; Comment Request for Form 4952

DEPARTMENT OF THE TREASURY
Internal Revenue Service

Federal Register Volume 82, Issue 87 (May 8, 2017)

Page Range21456-21457
FR Document2017-09265

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. Currently, the IRS is soliciting comments concerning Form 4952, Investment Interest Expense Deduction.

Federal Register, Volume 82 Issue 87 (Monday, May 8, 2017) 
[Federal Register Volume 82, Number 87 (Monday, May 8, 2017)]
[Notices]
[Pages 21456-21457]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-09265]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Form 4952

AGENCY: Internal Revenue Service (IRS), 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 take this opportunity to comment 
on proposed and/or continuing information collections, as required by 
the Paperwork Reduction Act of 1995. Currently, the IRS is soliciting 
comments concerning Form 4952, Investment Interest Expense Deduction.

DATES: Written comments should be received on or before July 7, 2017 to 
be assured of consideration.

ADDRESSES: Direct all written comments to Laurie Brimmer, Internal 
Revenue Service, Room 6526, 1111 Constitution Avenue NW., Washington, 
DC 20224. Requests for additional information or copies of the form and 
instructions should be directed to LaNita Van Dyke, at Internal Revenue 
Service, Room 6526, 1111 Constitution Avenue NW., Washington, DC 20224, 
or at or through the internet at [email protected].

SUPPLEMENTARY INFORMATION:
    Title: Investment Interest Expense Deduction.
    OMB Number: 1545-0191.
    Form Number: Form 4952.
    Abstract: Interest expense paid by an individual, estate, or trust 
on a loan allocable to property held for investment may not be fully 
deductible in the current year. Form 4952 is used to compute the amount 
of investment interest expense deductible for the current year and the 
amount, if any, to carry forward to future years.
    Current Actions: There are no changes being made to the form at 
this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals or households and business or other 
for-profit organizations.
    Estimated Number of Respondents: 137,064.
    Estimated Time per Respondent: 1 hour, 30 minutes.
    Estimated Total Annual Burden Hours: 205,596.
    The following paragraph applies to all of the collections of 
information covered by this notice:
    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

[[Page 21457]]

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: May 1, 2017.
Laurie Brimmer,
IRS Reports Clearance Officer.
[FR Doc. 2017-09265 Filed 5-5-17; 8:45 am]
BILLING CODE 4830-01-P

21456 Federal Register / Vol. 82, No. 87 / Monday, May 8, 2017 / Notices Affected Public: Business or other for- SUMMARY: An open meeting of the comments concerning Form 4952, profit organizations and individuals, Taxpayer Advocacy Panel Taxpayer Investment Interest Expense Deduction. individuals or households, not-for-profit Communications Project Committee will DATES: Written comments should be institutions, Federal government, and be conducted. The Taxpayer Advocacy received on or before July 7, 2017 to be state, local or tribal governments. Panel is soliciting public comments, assured of consideration. Estimated Number of Responses: ideas, and suggestions on improving ADDRESSES: Direct all written comments 37,830,463. customer service at the Internal Revenue Estimated Time per Respondent: to Laurie Brimmer, Internal Revenue Service. Service, Room 6526, 1111 Constitution 10.265 hours. DATES: The meeting will be held Estimated Total Annual Burden Avenue NW., Washington, DC 20224. Thursday, June 1, 2017. Requests for additional information or Hours: 388,311,964. The following paragraph applies to all FOR FURTHER INFORMATION CONTACT: copies of the form and instructions of the collections of information covered Antoinette Ross at 1–888–912–1227 or should be directed to LaNita Van Dyke, by this notice: (202) 317–4110. at Internal Revenue Service, Room 6526, An agency may not conduct or SUPPLEMENTARY INFORMATION: Notice is 1111 Constitution Avenue NW., sponsor, and a person is not required to hereby given pursuant to Section Washington, DC 20224, or at or through respond to, a collection of information 10(a)(2) of the Federal Advisory the internet at Lanita.VanDyke@irs.gov. unless the collection of information Committee Act, 5 U.S.C. App. (1988) SUPPLEMENTARY INFORMATION: displays a valid OMB control number. that an open meeting of the Taxpayer Title: Investment Interest Expense Books or records relating to a collection Advocacy Panel Taxpayer Deduction. of information must be retained as long Communications Project Committee will OMB Number: 1545–0191. as their contents may become material be held Thursday, June 1, 2017, at 1:00 Form Number: Form 4952. in the administration of any internal p.m. Eastern Time via teleconference. Abstract: Interest expense paid by an revenue law. Generally, tax returns and The public is invited to make oral individual, estate, or trust on a loan tax return information are confidential, comments or submit written statements allocable to property held for as required by 26 U.S.C. 6103. for consideration. Due to limited investment may not be fully deductible Request for Comments: Comments conference lines, notification of intent in the current year. Form 4952 is used submitted in response to this notice will to participate must be made with to compute the amount of investment be summarized and/or included in the Antoinette Ross. For more information interest expense deductible for the request for OMB approval. All please contact: Antoinette Ross at 1– current year and the amount, if any, to comments will become a matter of 888–912–1227 or (202) 317–4110, or carry forward to future years. public record. write TAP Office, 1111 Constitution Current Actions: There are no changes Comments are invited on: (a) Whether Avenue NW., Room 1509- National being made to the form at this time. the collection of information is Office, Washington, DC 20224, or Type of Review: Extension of a necessary for the proper performance of contact us at the Web site: http:// currently approved collection. the functions of the agency, including www.improveirs.org. Affected Public: Individuals or whether the information shall have The committee will be discussing households and business or other for- practical utility; (b) the accuracy of the various issues related to Taxpayer profit organizations. agency’s estimate of the burden of the Communications and public input is Estimated Number of Respondents: collection of information; (c) ways to welcome. 137,064. enhance the quality, utility, and clarity Estimated Time per Respondent: 1 of the information to be collected; (d) Dated: May 1, 2017. hour, 30 minutes. ways to minimize the burden of the Javier Hernandez, Estimated Total Annual Burden collection of information on Acting Director, Taxpayer Advocacy Panel. Hours: 205,596. respondents, including through the use [FR Doc. 2017–09256 Filed 5–5–17; 8:45 am] The following paragraph applies to all of automated collection techniques or BILLING CODE 4830–01–P of the collections of information covered other forms of information technology; by this notice: and (e) estimates of capital or start-up An agency may not conduct or costs and costs of operation, DEPARTMENT OF THE TREASURY sponsor, and a person is not required to maintenance, and purchase of services respond to, a collection of information to provide information. Internal Revenue Service unless the collection of information Approved: May 2, 2017. displays a valid OMB control number. Proposed Collection; Comment Laurie Brimmer, Books or records relating to a collection Request for Form 4952 Senior Tax Analyst. of information must be retained as long [FR Doc. 2017–09266 Filed 5–5–17; 8:45 am] AGENCY: Internal Revenue Service (IRS), as their contents may become material Treasury. in the administration of any internal BILLING CODE 4830–01–P ACTION: Notice and request for revenue law. Generally, tax returns and comments. tax return information are confidential, DEPARTMENT OF THE TREASURY as required by 26 U.S.C. 6103. SUMMARY: The Department of the Request for Comments: Comments Treasury, as part of its continuing effort submitted in response to this notice will asabaliauskas on DSK3SPTVN1PROD with NOTICES Internal Revenue Service to reduce paperwork and respondent be summarized and/or included in the Open Meeting of the Taxpayer burden, invites the general public and request for OMB approval. All Advocacy Panel Taxpayer other Federal agencies to take this comments will become a matter of Communications Project Committee opportunity to comment on proposed public record. Comments are invited on: AGENCY: Internal Revenue Service (IRS), and/or continuing information (a) Whether the collection of Treasury. collections, as required by the information is necessary for the proper Paperwork Reduction Act of 1995. performance of the functions of the ACTION: Notice of meeting. Currently, the IRS is soliciting agency, including whether the VerDate Sep<11>2014 18:27 May 05, 2017 Jkt 241001 PO 00000 Frm 00093 Fmt 4703 Sfmt 4703 E:\FR\FM\08MYN1.SGM 08MYN1

Federal Register / Vol. 82, No. 87 / Monday, May 8, 2017 / Notices 21457 information shall have practical utility; administration. Conveying the public’s Copies of the 2018 Grant Application (b) the accuracy of the agency’s estimate perception on IRS activities to Internal Package and Guidelines, IRS of the burden of the collection of Revenue Service executives, the ACT is Publication 3319 (Rev. 4–2017), can be information; (c) ways to enhance the comprised of individuals who bring downloaded from the IRS internet site at quality, utility, and clarity of the substantial, disparate experience and www.irs.gov/advocate or ordered by information to be collected; (d) ways to diverse backgrounds. Membership is calling the IRS Distribution Center toll- minimize the burden of the collection of balanced to include representation from free at 1–800–829–3676. information on respondents, including employee plans, exempt organizations, FOR FURTHER INFORMATION CONTACT: The through the use of automated collection tax-exempt bonds, and federal, state, LITC Program Office at (202) 317–4700 techniques or other forms of information local, and Indian tribal governments. (not a toll-free number) or by email at technology; and (e) estimates of capital Dated: April 26, 2017. LITCProgramOffice@irs.gov. or start-up costs and costs of operation, Mark O’Donnell, SUPPLEMENTARY INFORMATION: The IRS maintenance, and purchase of services Designated Federal Officer, Tax Exempt and will award a total of up to $6,000,000 to provide information. Government Entities Division, Internal (unless otherwise provided by specific Approved: May 1, 2017. Revenue Service. Congressional appropriation) to Laurie Brimmer, [FR Doc. 2017–09276 Filed 5–5–17; 8:45 am] qualifying organizations, subject to the IRS Reports Clearance Officer. BILLING CODE 4830–01–P limitations of Internal Revenue Code [FR Doc. 2017–09265 Filed 5–5–17; 8:45 am] section 7526. At the time of publication BILLING CODE 4830–01–P of this notice, Congress had not yet DEPARTMENT OF THE TREASURY passed legislation providing full-year funding levels for FY 2017. But for fiscal Internal Revenue Service year 2016, Congress appropriated a total DEPARTMENT OF THE TREASURY Low Income Taxpayer Clinic Grant of $12,000,000 in federal funds for LITC Internal Revenue Service Program; Availability of 2018 Grant grants. See Public Law 114–113. A Application Package qualifying organization may receive a Advisory Group to the Commissioner matching grant of up to $100,000 per of Internal Revenue; Renewal of AGENCY: Internal Revenue Service (IRS), year for up to a three-year project Charter Treasury. period. Qualifying organizations that AGENCY: Internal Revenue Service (IRS); ACTION: Notice. provide representation to low income Treasury. taxpayers involved in a tax controversy SUMMARY: This document contains a with the IRS and educate individuals for ACTION: Notice. notice that the IRS has made available whom English is a second language the 2018 Grant Application Package (ESL) about their rights and SUMMARY: The Charter for the Advisory and Guidelines (Publication 3319) for Committee on Tax Exempt and responsibilities under the Internal organizations interested in applying for Revenue Code are eligible for a grant. Government Entities (ACT) has been a Low-Income Taxpayer Clinic (LITC) renewed for a two-year period beginning An LITC must provide services for free matching grant for the 2018 grant year, or for no more than a nominal fee. April 20, 2017. which runs from January 1, 2018, Examples of qualifying organizations FOR FURTHER INFORMATION CONTACT: through December 31, 2018. The include: (1) A clinical program at an Mark O’Donnell by email at application period runs May 1, 2017, accredited law, business or accounting tege.advisory.comm@irs.gov or by phone through June 20, 2017. school whose students represent low at 202–317–8632 (not a toll free DATES: The IRS is authorized to award income taxpayers in tax controversies number). a multi-year grant not to exceed three with the IRS, and (2) an organization SUPPLEMENTARY INFORMATION: Notice is years. For an organization not currently exempt from tax under IRC § 501(a) hereby given under section 10(a)(2) of receiving a grant for 2017, or an whose employees and volunteers the Federal Advisory Committee Act, 5 organization whose multi-year grant represent low income taxpayers in tax U.S.C. App. (1988), and with the ends in 2017, the organization must controversies with the IRS. approval of the Secretary of Treasury to submit the application electronically at In determining whether to award a announce the renewal of the Advisory www.grants.gov. For an organization grant, the IRS will consider a variety of Committee on Tax Exempt and currently receiving a grant for 2017 factors, including: (1) The number of Government Entities (ACT). The which is requesting funding for the taxpayers who will be assisted by the primary purpose of the ACT is to second or third year of a multi-year organization, including the number of provide an organized public forum for grant, the organization must submit the ESL taxpayers in that geographic area; senior Internal Revenue Service funding request electronically at (2) the existence of other LITCs assisting executives and representatives of the www.grantsolutions.gov. All the same population of low income and public to discuss relevant tax organizations must use the funding ESL taxpayers; (3) the quality of the administration issues. As an advisory number of TREAS–GRANTS–052018– program offered by the organization, body designed to focus on broad policy 001, and applications and funding including the qualifications of its matters, the ACT reviews existing tax requests for the 2018 grant year must be administrators and qualified policy and/or makes recommendations filed by June 20, 2017. The Catalog of representatives, and its record, if any, in asabaliauskas on DSK3SPTVN1PROD with NOTICES with respect to emerging tax Federal Domestic Assistance program providing representation services to administration issues. The ACT suggests number is 21.008. See www.cfda.gov. .low income taxpayers; (4) the quality of operational improvements, offers ADDRESSES: The LITC Program Office is the application, including the constructive observations regarding located at: Internal Revenue Service, reasonableness of the proposed budget; current or proposed IRS policies, Taxpayer Advocate Service, LITC Grant (5) the organization’s compliance with programs, and procedures, and suggests Program Administration Office, TA: all federal tax obligations (filing and improvements with respect to issues LITC, 1111 Constitution Avenue NW., payment); (6) the organization’s having substantive effect on Federal tax Room 1034, Washington, DC 20224. compliance with all federal nontax VerDate Sep<11>2014 18:27 May 05, 2017 Jkt 241001 PO 00000 Frm 00094 Fmt 4703 Sfmt 4703 E:\FR\FM\08MYN1.SGM 08MYN1


Document Created: 2017-05-06 02:21:36
Document Modified: 2017-05-06 02:21:36
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 and request for comments.
DatesWritten comments should be received on or before July 7, 2017 to be assured of consideration.
FR Citation82 FR 21456 
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