83_FR_11631 83 FR 11580 - Proposed Extension of Information Collection Request Submitted for Public Comment; Qualified Lessee Construction Allowances for Short-Term Leases

83 FR 11580 - Proposed Extension of Information Collection Request Submitted for Public Comment; Qualified Lessee Construction Allowances for Short-Term Leases

DEPARTMENT OF THE TREASURY
Internal Revenue Service

Federal Register Volume 83, Issue 51 (March 15, 2018)

Page Range11580-11581
FR Document2018-05305

The Internal Revenue Service, as part of its continuing effort to reduce paperwork and respondent burden, invites the 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 information collection requirements related to qualified lessee construction allowances for short-term leases.

Federal Register, Volume 83 Issue 51 (Thursday, March 15, 2018) 
[Federal Register Volume 83, Number 51 (Thursday, March 15, 2018)]
[Notices]
[Pages 11580-11581]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-05305]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Extension of Information Collection Request Submitted 
for Public Comment; Qualified Lessee Construction Allowances for Short-
Term Leases

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

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SUMMARY: The Internal Revenue Service, as part of its continuing effort 
to reduce paperwork and respondent burden, invites the 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 information collection requirements related to qualified 
lessee construction allowances for short-term leases.

DATES: Written comments should be received on or before May 14, 2018 to 
be assured of consideration.

ADDRESSES: Direct all written comments to Roberto Mora-Figueroa, 
Internal Revenue Service, Room 6129, 1111 Constitution Avenue NW, 
Washington, DC 20224. Requests for additional information or copies of 
the regulations should be directed to R. Joseph Durbala, at Internal 
Revenue Service, Room 6129, 1111 Constitution Avenue NW, Washington DC 
20224, or through the internet, at [email protected].

[[Page 11581]]


SUPPLEMENTARY INFORMATION: 
    Title: Qualified Lessee Construction Allowances for Short-Term 
Leases.
    OMB Number: 1545-1661.
    Regulation Project Number: TD 8901.
    Abstract: This document contains final regulations concerning an 
exclusion from gross income for qualified lessee construction 
allowances provided by a lessor to a lessee for the purpose of 
constructing long-lived property to be used by the lessee pursuant to a 
short-term lease. The final regulations affect a lessor and a lessee 
paying and receiving, respectively, qualified lessee construction 
allowances that are depreciated by a lessor as nonresidential real 
property and excluded from the lessee's gross income. The final 
regulations provide guidance on the exclusion, the information required 
to be furnished by the lessor and the lessee, and the time and manner 
for providing that information to the IRS.
    Current Actions: There is no change to the burden previously 
approved.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents: 10,000.
    Estimated Time per Respondent: 1 hour.
    Estimated Total Annual Burden Hours: 10,000.
    The following paragraph applies to all 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 if 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.
    Desired Focus of Comments: The Internal Revenue Service (IRS) is 
particularly interested in comments that:
     Evaluate whether the proposed collection of information is 
necessary for the proper performance of the functions of the agency, 
including whether the information will have practical utility;
     Evaluate the accuracy of the agency's estimate of the 
burden of the proposed collection of information, including the 
validity of the methodology and assumptions used;
     Enhance the quality, utility, and clarity of the 
information to be collected; and
     Minimize the burden of the collection of information on 
those who are to respond, including using appropriate automated, 
electronic, mechanical, or other technological collection techniques or 
other forms of information technology, e.g., by permitting electronic 
submissions of responses.
    Comments submitted in response to this notice will be summarized 
and/or included in the ICR for OMB approval of the extension of the 
information collection; they will also become a matter of public 
record.

    Approved: March 6, 2018.
R. Joseph Durbala,
IRS Tax Analyst.
[FR Doc. 2018-05305 Filed 3-14-18; 8:45 am]
 BILLING CODE 4830-01-P

11580 Federal Register / Vol. 83, No. 51 / Thursday, March 15, 2018 / Notices Percent things, extend the term of the trackage SUMMARY: The FAA published a rights to December 31, 2016.1 document in the Federal Register of Non-Profit Organizations with- The earliest this transaction may be February 27, 2018, concerning requests out Credit Available Else- consummated is March 29, 2018, the for comments on its intent to rule on where ..................................... 2.500 effective date of the exemption (30 days request to release airport property at the after the verified notice of exemption Northeast Philadelphia Airport, The number assigned to this disaster was filed). Philadelphia, PA. The document for physical damage is 154468 and for As a condition to this exemption, any contained incorrect dates. economic injury is 154470. employees affected by the trackage FOR FURTHER INFORMATION CONTACT: Ms. (Catalog of Federal Domestic Assistance rights will be protected by the Cayla D. Morgan, (425) 227–2653. Number 59008) conditions imposed in Norfolk & Western Railway—Trackage Rights— Correction James E. Rivera, Burlington Northern, Inc., 354 I.C.C. 605 In the Federal Register of February Associate Administrator for Disaster (1978), as modified in Mendocino Coast 27, 2018, in FR Doc. 2018–03954, on Assistance. Railway—Lease & Operate—California page 8566, in the second column, [FR Doc. 2018–05241 Filed 3–14–18; 8:45 am] Western Railroad, 360 I.C.C. 653 (1980). correct the DATES caption to read: BILLING CODE 8025–01–P This notice is filed under 49 CFR DATES: Comments must be received on 1180.2(d)(7). If the notice contains false or before April 16, 2018. or misleading information, the exemption is void ab initio. Petitions to Issued in Camp Hill, PA, on February 27, SURFACE TRANSPORTATION BOARD revoke the exemption under 49 U.S.C. 2018. 10502(d) may be filed at any time. The Lori K. Pagnanelli, filing of a petition to revoke will not Manager, Harrisburg Airports District Office. [Docket No. FD 36165] automatically stay the effectiveness of [FR Doc. 2018–04581 Filed 3–14–18; 8:45 am] Toledo, Peoria & Western Railway the exemption. Stay petitions must be BILLING CODE 4910–13–P Corp.—Trackage Rights Renewal filed by March 22, 2018 (at least seven Exemption—Tazewell & Peoria days before the exemption becomes Railroad, Inc. effective). DEPARTMENT OF THE TREASURY An original and 10 copies of all The Tazewell & Peoria Railroad, Inc. pleadings, referring to Docket No. Internal Revenue Service (TZPR), has agreed to renew overhead 36165, must be filed with the Surface trackage rights to Toledo, Peoria & Transportation Board, 395 E Street, SW, Proposed Extension of Information Western Railway Corp. (TPW). The Washington, DC 20423–0001. In Collection Request Submitted for trackage rights extend between TPW addition, a copy of each pleading must Public Comment; Qualified Lessee milepost 109.4 at East Peoria, Ill., and be served on Erik M. Hocky, Clark Hill, Construction Allowances for Short- TPW milepost 113.9 at Peoria, Ill. (the PLC, One Commerce Square, 2005 Term Leases Line), a distance of approximately 4.7 Market Street, Suite 1000, Philadelphia, AGENCY: Internal Revenue Service (IRS), miles, including overhead trackage PA 19103. Treasury. rights to handle intermodal traffic from Board decisions and notices are ACTION: Notice and request for the intermediate point of the connection available on our website at comments. between TZPR and BNSF Railway ‘‘WWW.STB.GOV.’’ Company (BNSF) near Darst Street to Decided: March 12, 2018. SUMMARY: The Internal Revenue Service, TPW milepost 109.4 in East Peoria. By the Board, Scott M. Zimmerman, Acting as part of its continuing effort to reduce TPW states that the purpose of the Director, Office of Proceedings. paperwork and respondent burden, transaction is to renew trackage rights Jeffrey Herzig, invites the public and other Federal originally granted to TPW by Peoria & Clearance Clerk. agencies to take this opportunity to Pekin Union Railway Company (PPU) in [FR Doc. 2018–05289 Filed 3–14–18; 8:45 am] comment on proposed and/or 1995. Toledo, Peoria & W. Ry.— continuing information collections, as BILLING CODE 4915–01–P Trackage Rights Exemption—Peoria & required by the Paperwork Reduction Pekin Union Ry., FD 32654 (ICC served Act of 1995. Currently, the IRS is Feb. 6, 1995). In 2001, the trackage soliciting comments concerning DEPARTMENT OF TRANSPORTATION information collection requirements rights were amended to include an intermediate connection with BNSF for Federal Aviation Administration related to qualified lessee construction handling intermodal traffic. Toledo, allowances for short-term leases. Peoria & W. Ry.—Trackage Rights Notice of Intent To Rule on Request To DATES: Written comments should be Exemption—Peoria & Pekin Union Ry., Release Airport Property at the received on or before May 14, 2018 to FD 34009 (STB served Feb. 23, 2001). In Northeast Philadelphia Airport (PNE), be assured of consideration. 2004, the Board authorized TZPR to Philadelphia, Pennsylvania; Correction ADDRESSES: Direct all written comments lease the Line, and other lines, from to Roberto Mora-Figueroa, Internal AGENCY: Federal Aviation PPU. Tazewell & Peoria RR—Lease & Revenue Service, Room 6129, 1111 Operation Exemption—Peoria & Pekin Administration, (FAA), DOT. Constitution Avenue NW, Washington, sradovich on DSK3GMQ082PROD with NOTICES Union Ry., FD 34544 (STB served Sept. ACTION : Notice; correction. DC 20224. Requests for additional 28, 2004). TPW states that on August 1, information or copies of the regulations 2006, TZPR and TPW entered into an 1 TWP did not seek or receive Board authorization should be directed to R. Joseph Durbala, amended and restated trackage rights for the transaction encompassed in the 2006 at Internal Revenue Service, Room 6129, agreement (2006 Restated Agreement) Restated Agreement. This notice of exemption is published nevertheless because the same class 1111 Constitution Avenue NW, that did not change the scope of the exemption applies to trackage rights acquisitions Washington DC 20224, or through the trackage rights, but did, among other and renewals. See 49 CFR 1180.2(d)(7). internet, at RJoseph.Durbala@irs.gov. VerDate Sep<11>2014 17:34 Mar 14, 2018 Jkt 244001 PO 00000 Frm 00093 Fmt 4703 Sfmt 4703 E:\FR\FM\15MRN1.SGM 15MRN1

Federal Register / Vol. 83, No. 51 / Thursday, March 15, 2018 / Notices 11581 SUPPLEMENTARY INFORMATION: • Enhance the quality, utility, and OMB Number: 1545–0725. Title: Qualified Lessee Construction clarity of the information to be Form Number: 928. Allowances for Short-Term Leases. collected; and Abstract: Under IRC section 4101(b) OMB Number: 1545–1661. • Minimize the burden of the Secretary may require, as a condition of Regulation Project Number: TD 8901. collection of information on those who registration under 4101(a), that the Abstract: This document contains are to respond, including using applicant give a bond in an amount that final regulations concerning an appropriate automated, electronic, the Secretary determines is appropriate. exclusion from gross income for mechanical, or other technological Applicant’s that do not meet all the qualified lessee construction allowances collection techniques or other forms of applicable registration tests for Form provided by a lessor to a lessee for the information technology, e.g., by 637 registration must secure a federal purpose of constructing long-lived permitting electronic submissions of bond, from an acceptable surety or property to be used by the lessee responses. reinsurer listed in Circular 570, prior to pursuant to a short-term lease. The final Comments submitted in response to receiving a Form 637 registration under regulations affect a lessor and a lessee this notice will be summarized and/or section 4101. Form 928 is used for this paying and receiving, respectively, included in the ICR for OMB approval purpose. qualified lessee construction allowances of the extension of the information Current Actions: There is no change to that are depreciated by a lessor as collection; they will also become a the burden previously approved. matter of public record. Type of Review: Extension of a nonresidential real property and currently approved collection. excluded from the lessee’s gross income. Approved: March 6, 2018. Affected Public: Business or other for- The final regulations provide guidance R. Joseph Durbala, profit organizations. on the exclusion, the information IRS Tax Analyst. Estimated Number of Respondents: required to be furnished by the lessor 500. [FR Doc. 2018–05305 Filed 3–14–18; 8:45 am] and the lessee, and the time and manner Estimated Time per Respondent: 2.56 BILLING CODE 4830–01–P for providing that information to the hours. IRS. Estimated Total Annual Burden Current Actions: There is no change to DEPARTMENT OF THE TREASURY Hours: 1,280. the burden previously approved. The following paragraph applies to all Type of Review: Extension of a Internal Revenue Service the collections of information covered currently approved collection. by this notice: Affected Public: Business or other for- Proposed Extension of Information An agency may not conduct or profit organizations. Collection Request Submitted for sponsor, and a person is not required to Estimated Number of Respondents: Public Comment; Rules Relating to respond to, a collection of information 10,000. Registration unless the collection of information Estimated Time per Respondent: 1 displays a valid OMB control number. hour. AGENCY: Internal Revenue Service (IRS), Books or records relating to a Estimated Total Annual Burden Treasury. collection of information must be Hours: 10,000. ACTION: Notice and request for retained if their contents may become The following paragraph applies to all comments. material in the administration of any the collections of information covered internal revenue law. Generally, tax SUMMARY: The Internal Revenue Service, returns and tax return information are by this notice: as part of its continuing effort to reduce confidential, as required by 26 U.S.C. An agency may not conduct or paperwork and respondent burden, 6103. sponsor, and a person is not required to invites the public and other Federal Desired Focus of Comments: The respond to, a collection of information agencies to take this opportunity to Internal Revenue Service (IRS) is unless the collection of information comment on proposed and/or particularly interested in comments displays a valid OMB control number. continuing information collections, as that: Books or records relating to a required by the Paperwork Reduction • Evaluate whether the proposed collection of information must be Act of 1995. Currently, the IRS is collection of information is necessary retained if their contents may become soliciting comments concerning for the proper performance of the material in the administration of any information collection requirements functions of the agency, including internal revenue law. Generally, tax related to the rules relating to whether the information will have returns and tax return information are registration under section 4101. practical utility; confidential, as required by 26 U.S.C. • Evaluate the accuracy of the 6103. DATES: Written comments should be received on or before May 14, 2018 to agency’s estimate of the burden of the Desired Focus of Comments: The proposed collection of information, Internal Revenue Service (IRS) is be assured of consideration. including the validity of the particularly interested in comments ADDRESSES: Direct all written comments methodology and assumptions used; that: to Roberto Mora-Figueroa, Internal • Enhance the quality, utility, and • Evaluate whether the proposed Revenue Service, Room 6129, 1111 clarity of the information to be collection of information is necessary Constitution Avenue NW, Washington, collected; and for the proper performance of the DC 20224. Requests for additional • Minimize the burden of the functions of the agency, including information or copies of the regulations sradovich on DSK3GMQ082PROD with NOTICES collection of information on those who whether the information will have should be directed to R. Joseph Durbala, are to respond, including using practical utility; at Internal Revenue Service, Room 6129, appropriate automated, electronic, • Evaluate the accuracy of the 1111 Constitution Avenue NW, mechanical, or other technological agency’s estimate of the burden of the Washington DC 20224, or through the collection techniques or other forms of proposed collection of information, internet, at RJoseph.Durbala@irs.gov. information technology, e.g., by including the validity of the SUPPLEMENTARY INFORMATION: permitting electronic submissions of methodology and assumptions used; Title: Taxable Fuel; registration. responses. VerDate Sep<11>2014 17:34 Mar 14, 2018 Jkt 244001 PO 00000 Frm 00094 Fmt 4703 Sfmt 4703 E:\FR\FM\15MRN1.SGM 15MRN1


Document Created: 2018-03-15 02:37:49
Document Modified: 2018-03-15 02:37:49
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 May 14, 2018 to be assured of consideration.
FR Citation83 FR 11580 
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