82_FR_3391 82 FR 3384 - Proposed Collection; Comment Request on Capitalization of Interest

82 FR 3384 - Proposed Collection; Comment Request on Capitalization of Interest

DEPARTMENT OF THE TREASURY
Internal Revenue Service

Federal Register Volume 82, Issue 7 (January 11, 2017)

Page Range3384-3385
FR Document2017-00332

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 8584, capitalization of interest.

Federal Register, Volume 82 Issue 7 (Wednesday, January 11, 2017)
[Federal Register Volume 82, Number 7 (Wednesday, January 11, 2017)]
[Notices]
[Pages 3384-3385]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-00332]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request on Capitalization of 
Interest

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 
8584, capitalization of interest.

DATES: Written comments should be received on or before March 13, 2017 
to be assured of consideration.

ADDRESSES: Direct all written comments to Tuawana Pinkston, Internal 
Revenue Service, Room 6528, 1111 Constitution Avenue NW., Washington, 
DC 20224.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the information collection should be directed to R. Joseph 
Durbala (202) 317-5746, or at Internal Revenue Service, Room 6129, 1111 
Constitution Avenue NW., Washington DC 20224, or through the internet, 
at RJoseph.Durbala@irs.gov.
    Title: Capitalization of Interest.
    OMB Number: 1545-1265.
    Regulation Project Number: TD 8584
    Abstract: Internal Revenue Code section 263A(f) requires taxpayers 
to estimate the length of the production period and total cost of 
tangible personal property to determine if Interest capitalization is 
required. This regulation requires taxpayers to maintain 
contemporaneous written records of production period estimates, to file 
a ruling request to segregate activities in applying the interest 
capitalization rules, and to request the consent of the Commissioner to 
change their methods of accounting for the capitalization of interest.
    Current Actions: There is no change to this existing regulation.
    Type of Review: Extension of a currently approved approval.
    Affected Public: Individuals or households, and business or other 
for-profit organizations.
    Estimated Number of Respondents: 500,050.
    Estimated Time per Respondent: 14 Minutes.
    Estimated Total Annual Burden Hours: 116,767 Hours.
    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 information shall have practical utility;

[[Page 3385]]

(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: December 28, 2016.
R. Joseph Durbala,
Tax Analyst, IRS.
[FR Doc. 2017-00332 Filed 1-10-17; 8:45 am]
 BILLING CODE 4830-01-P



                                                3384                        Federal Register / Vol. 82, No. 7 / Wednesday, January 11, 2017 / Notices

                                                tools, reporting, and record-keeping                    displays a valid OMB control number.                   Service, Room 6528, 1111 Constitution
                                                requirements:                                           Books or records relating to a collection              Avenue NW., Washington, DC 20224.
                                                   Title: Collection of Qualitative                     of information must be retained as long                FOR FURTHER INFORMATION CONTACT:
                                                Feedback on Agency Service Delivery                     as their contents may become material                  Requests for additional information or
                                                   OMB Number: 1545–2256.                               in the administration of any internal                  copies of the information collection
                                                   Form Number: N/A.                                    revenue law. Generally, tax returns and                should be directed to R. Joseph Durbala
                                                   Abstract: Executive Order 12862                      tax return information are confidential,               (202) 317–5746, or at Internal Revenue
                                                directs Federal agencies to provide                     as required by 26 U.S.C. 6103.                         Service, Room 6129, 1111 Constitution
                                                service to the public that matches or                      Request for Comments: Comments                      Avenue NW., Washington DC 20224, or
                                                exceeds the best service available in the               submitted in response to this notice will              through the internet, at
                                                private sector. Executive Order 13571                   be summarized and/or included in the                   RJoseph.Durbala@irs.gov.
                                                expands on this concept to include                      request for OMB approval. All                             Title: Capitalization of Interest.
                                                recent developments in private sector                   comments will become a matter of                          OMB Number: 1545–1265.
                                                advances in internet customer service                   public record. Comments are invited on:                   Regulation Project Number: TD 8584
                                                technologies. In order to work                          (a) Whether the collection of                             Abstract: Internal Revenue Code
                                                continuously to ensure that our online                  information is necessary for the proper                section 263A(f) requires taxpayers to
                                                products and services are effective and                 performance of the functions of the                    estimate the length of the production
                                                meet our customers’ needs, The Internal                 agency, including whether the                          period and total cost of tangible
                                                Revenue Service (hereafter ‘‘the                        information shall have practical utility;
                                                                                                                                                               personal property to determine if
                                                Agency’’) seeks to obtain OMB approval                  (b) the accuracy of the agency’s estimate
                                                                                                                                                               Interest capitalization is required. This
                                                of a generic Clearance for the Collection               of the burden of the collection of
                                                                                                                                                               regulation requires taxpayers to
                                                of Qualitative Feedback on Agency                       information; (c) ways to enhance the
                                                                                                                                                               maintain contemporaneous written
                                                Service Delivery. By routine customer                   quality, utility, and clarity of the
                                                                                                                                                               records of production period estimates,
                                                feedback we mean information that                       information to be collected; (d) ways to
                                                                                                                                                               to file a ruling request to segregate
                                                focuses on the awareness,                               minimize the burden of the collection of
                                                                                                                                                               activities in applying the interest
                                                understanding, attitudes, preferences, or               information on respondents, including
                                                                                                                                                               capitalization rules, and to request the
                                                experiences of customers or other                       through the use of automated collection
                                                                                                                                                               consent of the Commissioner to change
                                                stakeholders relating to existing or                    techniques or other forms of information
                                                                                                                                                               their methods of accounting for the
                                                future services or products, but are not                technology; and (e) estimates of capital
                                                                                                                                                               capitalization of interest.
                                                statistical surveys that yield quantitative             or start-up costs and costs of operation,
                                                                                                                                                                  Current Actions: There is no change to
                                                results that can be generalized to the                  maintenance, and purchase of services
                                                                                                                                                               this existing regulation.
                                                population of study.                                    to provide information.
                                                   Current Actions: Extension of                                                                                  Type of Review: Extension of a
                                                                                                          Approved: December 28, 2016.                         currently approved approval.
                                                currently approved collection.                          R. Joseph Durbala,
                                                   Type of Review: Extension request.                                                                             Affected Public: Individuals or
                                                   Affected Public: This collection of                  Tax Analyst, IRS.                                      households, and business or other for-
                                                information is necessary to enable the                  [FR Doc. 2017–00335 Filed 1–10–17; 8:45 am]            profit organizations.
                                                Agency to garner customer and                           BILLING CODE 4830–01–P                                    Estimated Number of Respondents:
                                                stakeholder feedback in an efficient,                                                                          500,050.
                                                timely manner, in accordance with our                                                                             Estimated Time per Respondent: 14
                                                commitment to improving service                         DEPARTMENT OF THE TREASURY                             Minutes.
                                                delivery. The information collected                                                                               Estimated Total Annual Burden
                                                                                                        Internal Revenue Service                               Hours: 116,767 Hours.
                                                from our customers and stakeholders
                                                will help ensure that users have an                                                                               The following paragraph applies to all
                                                                                                        Proposed Collection; Comment
                                                effective, efficient, and satisfying                                                                           of the collections of information covered
                                                                                                        Request on Capitalization of Interest
                                                experience with the Agency’s programs.                                                                         by this notice:
                                                This feedback will provide insights into                AGENCY: Internal Revenue Service (IRS),                   An agency may not conduct or
                                                customer or stakeholder perceptions,                    Treasury.                                              sponsor, and a person is not required to
                                                experiences and expectations, provide                   ACTION: Notice and request for                         respond to, a collection of information
                                                an early warning of issues with service,                comments.                                              unless the collection of information
                                                or focus attention on areas where                                                                              displays a valid OMB control number.
                                                                                                        SUMMARY:   The Department of the                       Books or records relating to a collection
                                                communication, training or changes in
                                                                                                        Treasury, as part of its continuing effort             of information must be retained as long
                                                operations might improve delivery of
                                                                                                        to reduce paperwork and respondent                     as their contents may become material
                                                products or services. It will also allow
                                                                                                        burden, invites the general public and                 in the administration of any internal
                                                feedback to contribute directly to the
                                                                                                        other Federal agencies to take this                    revenue law. Generally, tax returns and
                                                improvement of program management.
                                                                                                        opportunity to comment on proposed                     tax return information are confidential,
                                                   Estimated Number of Respondents:
                                                                                                        and/or continuing information                          as required by 26 U.S.C. 6103.
                                                1,000,050.
                                                   Estimated Time per Respondent: 1 hr.,                collections, as required by the                           Request for Comments: Comments
                                                18 min.                                                 Paperwork Reduction Act of 1995,                       submitted in response to this notice will
                                                   Estimated Total Annual Burden                        Public Law 104–13 (44 U.S.C.                           be summarized and/or included in the
                                                                                                        3506(c)(2)(A)). Currently, the IRS is                  request for OMB approval. All
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                                                Hours: 266,680.
                                                   The following paragraph applies to all               soliciting comments concerning TD                      comments will become a matter of
                                                of the collections of information covered               8584, capitalization of interest.                      public record. Comments are invited on:
                                                by this notice:                                         DATES: Written comments should be                      (a) Whether the collection of
                                                   An agency may not conduct or                         received on or before March 13, 2017 to                information is necessary for the proper
                                                sponsor, and a person is not required to                be assured of consideration.                           performance of the functions of the
                                                respond to, a collection of information                 ADDRESSES: Direct all written comments                 agency, including whether the
                                                unless the collection of information                    to Tuawana Pinkston, Internal Revenue                  information shall have practical utility;


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                                                                            Federal Register / Vol. 82, No. 7 / Wednesday, January 11, 2017 / Notices                                              3385

                                                (b) the accuracy of the agency’s estimate               requesting rewards for submitting                      DEPARTMENT OF VETERANS
                                                of the burden of the collection of                      information concerning alleged                         AFFAIRS
                                                information; (c) ways to enhance the                    violations of the tax laws by other
                                                quality, utility, and clarity of the                    persons. Such rewards are authorized by                Notice of Availability of a Record of
                                                information to be collected; (d) ways to                Internal Revenue Code section 7623.                    Decision (ROD) for the Reconfiguration
                                                minimize the burden of the collection of                The data is used to determine and pay                  of VA Black Hills Health Care System
                                                information on respondents, including                   rewards to those persons who                           (BHHCS)
                                                through the use of automated collection                 voluntarily submit information.                        AGENCY:   Department of Veterans Affairs
                                                techniques or other forms of information                   Current Actions: There are no changes               (VA).
                                                technology; and (e) estimates of capital                being made to form 211 at this time.
                                                or start-up costs and costs of operation,                                                                      ACTION:   Notice of Availability.
                                                maintenance, and purchase of services                      Type of Review: Extension of a
                                                                                                        currently approved collection.                         SUMMARY:    VA announces the availability
                                                to provide information.                                                                                        of the ROD for the Reconfiguration of
                                                  Approved: December 28, 2016.                             Affected Public: Individuals or                     VA Black Hills Health Care System
                                                R. Joseph Durbala,                                      households.                                            (BHHCS). The ROD states the decision
                                                Tax Analyst, IRS.                                          Estimated Number of Responses:                      to implement VA’s preferred alternative
                                                [FR Doc. 2017–00332 Filed 1–10–17; 8:45 am]             20,000.                                                as described in the Final EIS.
                                                BILLING CODE 4830–01–P                                     Estimated Time per Response: 45                     Environmental consequences of the
                                                                                                        minutes.                                               action are discussed in the ROD, along
                                                                                                                                                               with the required minimization and
                                                                                                           Estimated Total Annual Burden                       mitigation measures.
                                                DEPARTMENT OF THE TREASURY
                                                                                                        Hours: 15,000.
                                                                                                                                                               DATES: The ROD is effective January 11,
                                                Internal Revenue Service                                   The following paragraph applies to all              2017.
                                                                                                        of the collections of information covered              ADDRESSES: The ROD may be viewed
                                                Proposed Collection; Comment                            by this notice:
                                                Request for Form 211                                                                                           online at www.blackhills.va.gov/
                                                                                                           An agency may not conduct or                        vablackhillsfuture/. Copies of the ROD
                                                AGENCY: Internal Revenue Service (IRS),                 sponsor, and a person is not required to               are also available in the following
                                                Treasury.                                               respond to, a collection of information                public locations: Hot Springs; Rapid
                                                ACTION: Notice and request for                          unless the collection of information                   City Downtown; Sturgis; Chadron;
                                                comments.                                               displays a valid OMB control number.                   Alliance; Lied Scottsbluff; and Pierre
                                                                                                        Books or records relating to a collection              (Rawlins Municipal) public libraries, as
                                                SUMMARY:    The Department of the                       of information must be retained as long                well as in Pine Ridge at the Oglala
                                                Treasury, as part of its continuing effort              as their contents may become material                  Lakota College Pine Ridge Center library
                                                to reduce paperwork and respondent                      in the administration of any internal                  on the high school campus.
                                                burden, invites the general public and                  revenue law. Generally, tax returns and                FOR FURTHER INFORMATION CONTACT: Staff
                                                other Federal agencies to take this                     tax return information are confidential,               Assistant to the Director, VA Black Hills
                                                opportunity to comment on proposed                      as required by 26 U.S.C. 6103.                         Health Care System, 113 Comanche
                                                and/or continuing information                                                                                  Road, Fort Meade, SD 57741, or by
                                                collections, as required by the                            Request for Comments: Comments
                                                                                                        submitted in response to this notice will              email to vablackhillsfuture@va.gov.
                                                Paperwork Reduction Act of 1995,
                                                Public Law 104–13(44 U.S.C.                             be summarized and/or included in the                   SUPPLEMENTARY INFORMATION: VA
                                                3506(c)(2)(A)). Currently, the IRS is                   request for OMB approval. All                          BHHCS provides health care to
                                                soliciting comments concerning Form                     comments will become a matter of                       approximately 19,000 Veterans over
                                                211, Application for Reward for Original                public record. Comments are invited on:                100,000 square miles in western South
                                                Information.                                            (a) Whether the collection of                          Dakota (SD), northwestern Nebraska
                                                                                                        information is necessary for the proper                (NE), and eastern Wyoming (WY). VA
                                                DATES: Written comments should be
                                                                                                        performance of the functions of the                    BHHCS consists of two medical centers
                                                received on or before March 13, 2017 to                 agency, including whether the                          at Fort Meade and Hot Springs, eight
                                                be assured of consideration.                            information shall have practical utility;              community-based outpatient clinics
                                                ADDRESSES: Direct all written comments                  (b) the accuracy of the agency’s estimate              (CBOC), and six Compensated Work
                                                to Tuawana Pinkston, Internal Revenue                   of the burden of the collection of                     Therapy locations. VA BHHCS has
                                                Service, Room 6528, 1111 Constitution                   information; (c) ways to enhance the                   identified a need to reconfigure the
                                                Avenue NW., Washington, DC 20224.                       quality, utility, and clarity of the                   health care services to ensure it
                                                FOR FURTHER INFORMATION CONTACT:                        information to be collected; (d) ways to               continues to provide high quality, safe,
                                                Requests for additional information or                  minimize the burden of the collection of               and accessible health care services
                                                copies of the form and instructions                     information on respondents, including                  across its service area. The existing
                                                should be directed to R. Joseph Durbala,                through the use of automated collection                locations and facilities constrain the
                                                at Internal Revenue Service, Room 6129,                 techniques or other forms of information               quality of care, range of services, and
                                                1111 Constitution Avenue NW.,                           technology; and (e) estimates of capital               access to care that VA offers in the
                                                Washington DC 20224, or through the                     or start-up costs and costs of operation,              catchment area. The Hot Springs
                                                internet, at RJoseph.Durbala@irs.gov.                   maintenance, and purchase of services                  campus includes buildings constructed
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                                                SUPPLEMENTARY INFORMATION:                              to provide information.                                in 1907 as part of the Battle Mountain
                                                   Title: Form 211, Application for                       Approved: December 28, 2016.                         Branch of the National Home for
                                                Reward for Original Information.                                                                               Disabled Volunteer Soldiers. The Battle
                                                                                                        R. Joseph Durbala,
                                                   OMB Number: 1545–0409.                                                                                      Mountain Sanitarium was recognized as
                                                   Form Number: Form 211.                               Tax Analyst, IRS.                                      a National Historic Landmark in 2011.
                                                   Abstract: Form 211 is the official                   [FR Doc. 2017–00336 Filed 1–10–17; 8:45 am]               Pursuant to NEPA, VA has identified
                                                application form used by persons                        BILLING CODE 4830–01–P                                 and analyzed potential environmental


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Document Created: 2018-02-01 14:59:01
Document Modified: 2018-02-01 14:59:01
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 March 13, 2017 to be assured of consideration.
ContactRequests for additional information or copies of the information collection should be directed to R. Joseph Durbala (202) 317-5746, or at Internal Revenue Service, Room 6129, 1111 Constitution Avenue NW., Washington DC 20224, or through the internet, at [email protected]
FR Citation82 FR 3384 

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