83 FR 55653 - Regulations To Prescribe Return and Time for Filing for Payment of Section 4960, 4966, 4967, and 4968 Taxes and To Update the Abatement Rules for Section 4966 and 4967 Taxes
DEPARTMENT OF THE TREASURY
Internal Revenue Service Federal Register Volume 83, Issue 216 (November 7, 2018)
Internal Revenue Service
Federal Register Volume 83, Issue 216 (November 7, 2018)
| Page Range | 55653-55656 | |
| FR Document | 2018-24285 |
[Federal Register Volume 83, Number 216 (Wednesday, November 7, 2018)] [Proposed Rules] [Pages 55653-55656] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2018-24285] ----------------------------------------------------------------------- DEPARTMENT OF THE TREASURY Internal Revenue Service 26 CFR Part 53 [REG-107163-18] RIN 1545-BO80 Regulations To Prescribe Return and Time for Filing for Payment of Section 4960, 4966, 4967, and 4968 Taxes and To Update the Abatement Rules for Section 4966 and 4967 Taxes AGENCY: Internal Revenue Service (IRS), Treasury. ACTION: Notice of proposed rulemaking. ----------------------------------------------------------------------- SUMMARY: This document contains proposed regulations specifying which return to use to pay certain excise taxes and the time for filing the return. The regulations also implement the statutory addition of two excise taxes to the first-tier taxes subject to abatement. These regulations affect applicable tax-exempt [[Page 55654]] organizations and their related organizations, applicable educational institutions, sponsoring organizations that maintain certain donor advised funds, fund managers of such sponsoring organizations, and certain donors, donor advisors and persons related to a donor or donor advisor of a donor advised fund. DATES: Written or electronic comments and requests for a public hearing must be received by December 7, 2018. ADDRESSES: Send submissions to: CC:PA:LPD:PR (REG-107163-18), Room 5203, Internal Revenue Service, P.O. Box 7604, Ben Franklin Station, Washington, DC 20044. Submissions may be hand-delivered Monday through Friday between the hours of 8 a.m. and 4 p.m. to CC:PA:LPD:PR (REG- 107163-18), Courier's Desk, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224 or sent electronically via the Federal eRulemaking Portal at http://www.regulations.gov (indicate IRS REG- 107163-18). FOR FURTHER INFORMATION CONTACT: Concerning the proposed regulations, Amber L. MacKenzie at (202) 317-4086 or Ward L. Thomas at (202) 317- 6173; concerning submission of comments and request for hearing, Regina Johnson at (202) 317-6901 (not toll-free numbers). SUPPLEMENTARY INFORMATION: Background This document contains proposed regulations amending regulations under section 6011 of the Internal Revenue Code (Code) to specify the return to accompany payment of excise taxes under sections 4960, 4966, 4967, and 4968; amending regulations under section 6071 to specify the time for filing that return; and amending regulations under section 4963 that define the first-tier taxes subject to abatement under section 4962. These regulations affect applicable tax-exempt organizations described in section 4960(c)(1) and their related organizations described in section 4960(c)(4)(B); applicable educational institutions described in section 4968(b)(1); sponsoring organizations described in section 4966(d)(1) that maintain donor advised funds described in section 4966(d)(2); fund managers of such sponsoring organizations described in sections 4966(d)(3); and donors, donor advisors and persons related to a donor or donor advisor of a donor advised fund described in section 4967(d). These regulations implement section 1231 of the Pension Protection Act of 2006, Public Law 109-280, 120 Stat. 780, 1094 (``PPA''), as amended by section 3(h) of the Tax Technical Corrections Act of 2007, Public Law 110-172, 121 Stat. 2473, 2475, and sections 13602 and 13701 of the Tax Cuts and Jobs Act, Public Law 115-97, 131 Stat. 2054, 2157, 2167 (2017) (``TCJA''). The PPA added sections 4966 and 4967 to the Code. These sections impose excise taxes related to certain distributions from donor advised funds (defined in section 4966(d)(2)) maintained by organizations that are defined as sponsoring organizations in section 4966(d)(1). Section 4966(a)(1) imposes a 20 percent excise tax on each ``taxable distribution'' from a donor advised fund, payable by the sponsoring organization of the donor advised fund. Section 4966(a)(2) imposes a separate 5 percent excise tax on the agreement of any fund manager (as defined in section 4966(d)(3)) to the making of the distribution, knowing that it is a taxable distribution. Section 4966(b)(1) states that if more than one fund manager is liable for the tax, all such managers are jointly and severally liable with respect to the taxable distribution. Section 4966(b)(2) provides that the maximum amount of tax that may be imposed on all fund managers for any one taxable distribution is $10,000. Section 4966(c)(1) defines the term ``taxable distribution'' as any distribution from a donor advised fund: (A) To any natural person; or (B) to any other person if (i) the distribution is for any purpose other than one specified in section 170(c)(2)(B), or (ii) the sponsoring organization does not exercise expenditure responsibility in accordance with section 4945(h) with respect to such distribution. Section 4966(c)(2) excepts from the definition of taxable distribution: (A) Distributions to any organization described in section 170(b)(1)(A), other than a disqualified supporting organization (as defined in section 4966(d)(4)); (B) distributions to the sponsoring organization of such donor advised fund; and (C) distributions to any other donor advised fund. Section 4967(a)(1) imposes a tax on the advice of a donor, donor advisor, or related person, described in subsection (d), if a distribution from a donor advised fund results in such person (or any other person described in subsection (d)) receiving, directly or indirectly, a more than incidental benefit (a ``prohibited benefit''). The tax, which is equal to 125 percent of the amount of the prohibited benefit, is paid by any person described in subsection (d) who advises as to a distribution or who receives a prohibited benefit as a result of the distribution. Section 4967(c)(1) provides that if more than one person is liable for the tax under section 4967(a)(1), then all such persons are jointly and severally liable for the tax. Section 4967(a)(2) imposes a tax on a fund manager (defined in section 4966(d)(3)) who agrees to the making of a distribution described in section 4967(a)(1), knowing that it would confer a more than incidental benefit on a donor, donor advisor, or related person. Section 4967(a)(2) states that the tax is equal to 10 percent of the amount of the prohibited benefit. Section 4967(c)(1) provides that if more than one fund manager is liable for the tax, all such fund managers are jointly and severally liable. Section 4967(c)(2) provides that the maximum amount of tax under section 4967(a)(2) on all fund managers for any one prohibited benefit transaction is $10,000. Section 4967(b) provides that no tax is imposed under section 4967 if a tax has been imposed with respect to the distribution under section 4958 (taxing excess benefit transactions). In 2006, the PPA added section 4966 and section 4967 taxes to the definitions of ``first tier tax'' in section 4963(a) and ``taxable event'' in section 4963(c). In 2007, section 4962(b) was amended by the Tax Technical Corrections Act of 2007, Public Law 110-172, sec. 3(h), 121 Stat. 2473, 2475, to add subchapter G of chapter 42 (i.e., section 4966 and section 4967 taxes) to the definition of ``qualified first tier tax'' for purposes of tax abatement. Thus under the Code, section 4966 and section 4967 taxes are subject to abatement under the generally applicable rules. Treas. Reg. Sec. 53.4963-1 sets forth definitions with respect to abatement of taxes. The TCJA added sections 4960 and 4968 to the Code. Section 4960 imposes an excise tax equal to the product of the rate of tax under section 11 and the sum of (1) so much of the remuneration paid (other than any excess parachute payment) by an applicable tax-exempt organization for the taxable year with respect to employment of any covered employee in excess of $1,000,000, plus (2) any excess parachute payment paid by such an organization to any covered employee. Section 4960(c)(4)(A) provides that remuneration of a covered employee by an applicable tax-exempt organization includes any remuneration paid with respect to employment of such employee by any related person or governmental entity. Section 4960(c)(4)(C) provides that when remuneration from more than one [[Page 55655]] employer is taken into account in determining the tax imposed by subsection (a), each such employer is liable for a pro rata share of the tax imposed by subsection (a) based on the ratio of the amount of remuneration paid by such employer with respect to such employee to the amount of remuneration paid by all such employers to such employee. Separately, section 4968 imposes an excise tax on each applicable educational institution based on the net investment income of such institution (including certain income of related organizations) for the taxable year. Section 6011(a) generally provides that when required by regulations prescribed by the Secretary, any person liable for any tax imposed by the Code shall make a return or statement according to the forms and regulations prescribed by the Secretary. Section 6071 generally provides that when not otherwise provided for under the Code, return filing dates are prescribed by regulation. Treas. Reg. Sec. Sec. 53.6011-1 and 53.6071-1 require persons subject to certain enumerated excise taxes under Chapter 42 of the Code to file a Form 4720 to accompany payment of those excise taxes and provide the time for filing the return. (Form 4720 is denominated ``Return of Certain Excise Taxes Under Chapters 41 and 42 of the Internal Revenue Code.'') Sections 4960, 4966, 4967, and 4968 were added to Chapter 42 of the Code, but are not enumerated in Treas. Reg. Sec. Sec. 53.6011-1 and 53.6071-1. Explanation of Provisions 1. Section 4962 Abatement These proposed regulations add section 4966 and section 4967 taxes to the definitions of ``first tier tax'' and ``taxable event'' in Treas. Reg. Sec. 53.4963-1. Qualified first tier taxes are subject to abatement under section 4962. 2. Requirement To File a Form 4720 These proposed regulations amend Treas. Reg. Sec. 53.6011-1(b) to provide that persons (including governmental entities) that are liable for section 4960, 4966, 4967, or 4968 excise taxes are required to file a return on Form 4720. 3. Deadline for Filing a Form 4720 Under Sec. 53.6071-1(i) of these proposed regulations, a person required to file a Form 4720 to report an excise tax under section 4960, 4966, 4967, or 4968 must file a Form 4720 by the 15th day of the fifth month after the end of the person's taxable year during which the excise tax liability was incurred. Thus, for example, an organization reporting on a calendar-year basis that incurred excise tax during the calendar year ending December 31, 2018, would be required to file a Form 4720 and pay the tax due by May 15, 2019. 4. Effective/Applicability Date These regulations are proposed to apply as of the date of publication of the final rule in the Federal Register. Special Analyses This regulation is not subject to review under section 6(b) of Executive Order 12866 pursuant to the Memorandum of Agreement (April 11, 2018) between the Department of the Treasury and the Office of Management and Budget regarding review of tax regulations. It is hereby certified that the collection of information in these regulations will not have a significant economic impact on a substantial number of small entities. This rule merely provides guidance as to the timing and filing of Form 4720 for persons liable for the specified excise taxes and who have a statutory filing obligation. Completing the applicable portion of the Form 4720 imposes little incremental burden in time or expense as compared to any other filing method. In addition, a person may already be required to file the Form 4720 under the existing final regulations in Sec. Sec. 53.6011-1 and 53.6071-1 if it is liable for another excise tax for which filing of the Form is required. Therefore, a regulatory flexibility analysis under the Regulatory Flexibility Act (5 U.S.C. chapter 6) is not required. Pursuant to section 7805(f) of the Code, this regulation will be submitted to the Chief Counsel for Advocacy of the Small Business Administration for comment on its impact on small entities. Comments and Requests for Public Hearing Before these proposed regulations are adopted as final regulations, consideration will be given to any comments that are timely submitted to the IRS as prescribed in the preamble under the ADDRESSES section. All comments submitted will be made available at www.regulations.gov or upon request. A public hearing will be scheduled if requested in writing by any person that timely submits written comments. If a public hearing is scheduled, notice of the date, time, and place for the hearing will be published in the Federal Register. Drafting Information The principal authors of these regulations are Amber L. MacKenzie and Ward L. Thomas, Office of Associate Chief Counsel (Tax Exempt and Government Entities). However, other personnel from the IRS and Treasury Department participated in their development. List of Subjects in 26 CFR Part 53 Excise taxes, Foundations, Investments, Lobbying, Reporting and recordkeeping requirements. Proposed Amendments to the Regulations Accordingly, 26 CFR part 53 is proposed to be amended as follows: PART 53--FOUNDATION AND SIMILAR EXCISE TAXES 0 Paragraph 1. The authority citation for part 53 continues to read, in part, as follows: Authority: 26 U.S.C. 7805 * * * Sec. 53.4963-1 [Amended] 0 Par. 2. Section 53.4963-1 is amended as follows: 0 1. Paragraph (a) is amended by removing the language ``4958, 4971'' and adding ``4958, 4966, 4967, 4971'' in its place. 0 2. Paragraph (c) is amended by removing the language ``4958, 4971'' and adding ``4958, 4966, 4967, 4971'' in its place. 0 Par. 3. Section 53.6011-1 is amended by: 0 1. Revising the first sentence of paragraph (b). 0 2. Removing from the third sentence of paragraph (b) the language ``4958(a), or 4965(a),'' and adding ``4958(a), 4960(a), 4965(a), 4966(a), or 4967(a),'' in its place. The revision reads as follows: Sec. 53.6011-1 General requirement of return, statement or list. * * * * * (b) Every person (including a governmental entity) liable for tax imposed by sections 4941(a), 4942(a), 4943(a), 4944(a), 4945(a), 4955(a), 4958(a), 4959, 4960(a), 4965(a), 4966(a), 4967(a), or 4968(a), and every private foundation and every trust described in section 4947(a)(2) which has engaged in an act of self-dealing (as defined in section 4941(d)) (other than an act giving rise to no tax under section 4941(a)) shall file an annual return on Form 4720 and shall include therein the information required by such form and [[Page 55656]] the instructions issued with respect thereto. * * * * * * * * Sec. 53.6071-1 [Amended] 0 Par. 4. Section 53.6071-1 is amended by: 0 1. Redesignating paragraph (i) as paragraph (j). 0 2. Adding new paragraphs (i) and (j)(3). The additions read as follows: Sec. 53.6071-1 Time for filing returns. * * * * * (i) Taxes under section 4960, 4966, 4967, or 4968. A person (including a governmental entity) required by Sec. 53.6011-1(b) to file a return for a tax imposed by section 4960(a), 4966(a), 4967(a), or 4968(a) in a taxable year must file the Form 4720 on or before the 15th day of the fifth month after the end of the person's taxable year (or, if the person has not established a taxable year for Federal income tax purposes, the person's annual accounting period). (j) * * * (3) Paragraph (i) of this section applies on and after the date of publication of the Treasury decision adopting these rules as final regulations in the Federal Register. Kirsten Wielobob, Deputy Commissioner for Services and Enforcement. [FR Doc. 2018-24285 Filed 11-5-18; 4:15 pm] BILLING CODE 4830-01-P
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The rules of 26 CFR 601.601(a)(3) ■ 1. Removing ‘‘section 846(f)(3)’’ from section 846(d)(2)(A) and (B). However,
apply to the hearing. Persons who wish the first sentence of paragraph (a)(1) and the Secretary may adjust the loss
to present oral comments at the hearing adding ‘‘section 846(e)(3)’’ in its place. payment pattern for any line of business
must submit written or electronic ■ 2. Removing ‘‘and § 1.846–3(b) as provided in paragraph (d)(2) of this
comments and an outline of the topics contains guidance relating to discount section.
to be discussed and the time to be factors applicable to accident years prior (2) Smoothing adjustments. The
devoted to each topic by December 7, to the 1987 accident year’’ from the Secretary may adjust the loss payment
2018. Such persons should submit a third sentence of paragraph (a)(1). pattern for any line of business using a
signed paper original and eight (8) ■ 3. Removing the last sentence of methodology described by the Secretary
copies or an electronic copy. A period paragraph (a)(1). in other published guidance if necessary
of ten (10) minutes will be allotted to ■ 4. Removing paragraph (a)(2) and to avoid negative payment amounts and
each person for making comments. An redesignating paragraphs (a)(3) and (4) otherwise produce a stable pattern of
agenda showing the scheduling of the as paragraphs (a)(2) and (3), positive discount factors less than one.
speakers will be prepared after the respectively. (e) Applicability date. (1) Except as
deadline for receiving outlines has ■ 5. In the first sentence of paragraph provided in paragraph (e)(2) of this
passed. Copies of the agenda will be (b)(1), removing ‘‘section 846(f)(6)’’ and section, this section applies to taxable
available free of charge at the hearing. adding ‘‘section 846(e)(6)’’ in its place; years beginning after December 31,
and removing ‘‘, in § 1.846–2 (relating to 1986.
Drafting Information a taxpayer’s election to use its own (2) Paragraphs (c) and (d) of this
The principal author of these historical loss payment pattern)’’. section apply to taxable years beginning
■ 6. Removing ‘‘for accident years after after December 31, 2017.
regulations is Kathryn M. Sneade, Office
of Associate Chief Counsel (Financial 1987’’ from the heading for paragraph
(b)(3)(i). § 1.846–2 [Removed]
Institutions and Products), IRS.
■ 7. Removing the designation ‘‘(A)’’ ■ Par. 4. Section 1.846–2 is removed.
However, other personnel from the
Treasury Department and the IRS and the accompanying heading
§ 1.846–2T [Removed]
participated in their development. ‘‘Accident years after 1991’’ after the
heading of paragraph (b)(3)(ii). ■ Par. 5. Section 1.846–2T is removed.
Statement of Availability of IRS ■ 8. Removing paragraphs (b)(3)(ii)(B),
§ 1.846–3 [Removed]
Documents and (b)(3)(iii) and (iv).
■ 9. Removing paragraph (b)(4) and
■ Par. 6. Section 1.846–3 is removed.
The IRS notices and revenue redesignating paragraph (b)(5) as § 1.846–4 [Removed]
procedures cited in this preamble are paragraph (b)(4).
published in the Internal Revenue ■ Par. 7. Section 1.846–4 is removed.
■ 10. Adding paragraphs (c), (d), and (e).
Bulletin (or Cumulative Bulletin) and The additions read as follows: § 1.846–4T [Removed]
are available from the Superintendent of
§ 1.846–1 Application of discount factors. ■ Par. 8. Section 1.846–4T is removed.
Documents, U.S. Government
Publishing Office, Washington, DC * * * * * Kirsten Wielobob,
20402, or by visiting the IRS website at (c) Determination of annual rate. The Deputy Commissioner for Services and
http://www.irs.gov. applicable interest rate is the annual Enforcement.
rate determined by the Secretary for any [FR Doc. 2018–24367 Filed 11–5–18; 4:15 pm]
List of Subjects in 26 CFR Part 1
calendar year on the basis of the BILLING CODE 4830–01–P
Income taxes, Reporting and corporate bond yield curve (as defined
recordkeeping requirements. in section 430(h)(2)(D)(i), determined by
substituting ‘‘60-month period’’ for ‘‘24- DEPARTMENT OF THE TREASURY
Proposed Amendments to the month period’’ therein). The annual rate
Regulations for any calendar year is determined on Internal Revenue Service
Accordingly, 26 CFR part 1 is the basis of a yield curve that reflects
the average, for the most recent 60- 26 CFR Part 53
proposed to be amended as follows:
month period ending before the [REG–107163–18]
PART 1—INCOME TAXES beginning of the calendar year, of
monthly yields on corporate bonds RIN 1545–BO80
■ Paragraph 1. The authority citation described in section 430(h)(2)(D)(i). The
Regulations To Prescribe Return and
for part 1 is amended by removing the annual rate is the average of that yield
Time for Filing for Payment of Section
entry for § 1.846–2(d), removing the curve’s monthly spot rates with times to
4960, 4966, 4967, and 4968 Taxes and
entry for §§ 1.846–1 through 1.846–4, maturity of not more than seventeen and
To Update the Abatement Rules for
and adding an entry in numerical order one-half years.
(d) Determination of loss payment Section 4966 and 4967 Taxes
for § 1.846–1. The addition reads in part
as follows: pattern—(1) In general. Under section AGENCY: Internal Revenue Service (IRS),
846(d)(1), the loss payment pattern Treasury.
Authority: 26 U.S.C. 7805 * * *
determined by the Secretary for each ACTION: Notice of proposed rulemaking.
* * * * * line of business is determined by
amozie on DSK3GDR082PROD with PROPOSALS1
Section 1.846–1 also issued under 26 reference to the historical loss payment SUMMARY: This document contains
U.S.C. 846.
pattern applicable to such line of proposed regulations specifying which
* * * * * business determined in accordance with return to use to pay certain excise taxes
§ 1.846–0 [Removed] the method of determination set forth in and the time for filing the return. The
section 846(d)(2) and the computational regulations also implement the statutory
■ Par. 2. Section 1.846–0 is removed. rules prescribed in section 846(d)(3) on addition of two excise taxes to the first-
■ Par. 3. Section 1.846–1 is amended the basis of the annual statement data tier taxes subject to abatement. These
by: from annual statements described in regulations affect applicable tax-exempt
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![Federal Register / Vol. 83, No. 216 / Wednesday, November 7, 2018 / Proposed Rules 55655
employer is taken into account in Thus, for example, an organization Drafting Information
determining the tax imposed by reporting on a calendar-year basis that
The principal authors of these
subsection (a), each such employer is incurred excise tax during the calendar
regulations are Amber L. MacKenzie
liable for a pro rata share of the tax year ending December 31, 2018, would
and Ward L. Thomas, Office of
imposed by subsection (a) based on the be required to file a Form 4720 and pay
Associate Chief Counsel (Tax Exempt
ratio of the amount of remuneration the tax due by May 15, 2019. and Government Entities). However,
paid by such employer with respect to
4. Effective/Applicability Date other personnel from the IRS and
such employee to the amount of
Treasury Department participated in
remuneration paid by all such These regulations are proposed to their development.
employers to such employee. apply as of the date of publication of the
Separately, section 4968 imposes an final rule in the Federal Register. List of Subjects in 26 CFR Part 53
excise tax on each applicable
educational institution based on the net Special Analyses Excise taxes, Foundations,
investment income of such institution Investments, Lobbying, Reporting and
(including certain income of related This regulation is not subject to recordkeeping requirements.
organizations) for the taxable year. review under section 6(b) of Executive Proposed Amendments to the
Section 6011(a) generally provides Order 12866 pursuant to the Regulations
that when required by regulations Memorandum of Agreement (April 11,
prescribed by the Secretary, any person 2018) between the Department of the Accordingly, 26 CFR part 53 is
liable for any tax imposed by the Code Treasury and the Office of Management proposed to be amended as follows:
shall make a return or statement and Budget regarding review of tax
PART 53—FOUNDATION AND SIMILAR
according to the forms and regulations regulations. It is hereby certified that the
EXCISE TAXES
prescribed by the Secretary. Section collection of information in these
6071 generally provides that when not regulations will not have a significant ■ Paragraph 1. The authority citation
otherwise provided for under the Code, economic impact on a substantial for part 53 continues to read, in part, as
return filing dates are prescribed by number of small entities. This rule follows:
regulation. Treas. Reg. §§ 53.6011–1 and merely provides guidance as to the
53.6071–1 require persons subject to timing and filing of Form 4720 for Authority: 26 U.S.C. 7805 * * *
certain enumerated excise taxes under persons liable for the specified excise § 53.4963–1 [Amended]
Chapter 42 of the Code to file a Form taxes and who have a statutory filing
4720 to accompany payment of those ■ Par. 2. Section 53.4963–1 is amended
obligation. Completing the applicable
excise taxes and provide the time for as follows:
portion of the Form 4720 imposes little
filing the return. (Form 4720 is ■ 1. Paragraph (a) is amended by
incremental burden in time or expense
denominated ‘‘Return of Certain Excise as compared to any other filing method. removing the language ‘‘4958, 4971’’
Taxes Under Chapters 41 and 42 of the In addition, a person may already be and adding ‘‘4958, 4966, 4967, 4971’’ in
Internal Revenue Code.’’) Sections 4960, required to file the Form 4720 under the its place.
4966, 4967, and 4968 were added to existing final regulations in §§ 53.6011– ■ 2. Paragraph (c) is amended by
Chapter 42 of the Code, but are not 1 and 53.6071–1 if it is liable for another removing the language ‘‘4958, 4971’’
enumerated in Treas. Reg. §§ 53.6011–1 excise tax for which filing of the Form and adding ‘‘4958, 4966, 4967, 4971’’ in
and 53.6071–1. is required. Therefore, a regulatory its place.
flexibility analysis under the Regulatory ■ Par. 3. Section 53.6011–1 is amended
Explanation of Provisions
Flexibility Act (5 U.S.C. chapter 6) is by:
1. Section 4962 Abatement not required. Pursuant to section 7805(f) ■ 1. Revising the first sentence of
These proposed regulations add of the Code, this regulation will be paragraph (b).
section 4966 and section 4967 taxes to submitted to the Chief Counsel for ■ 2. Removing from the third sentence
the definitions of ‘‘first tier tax’’ and Advocacy of the Small Business of paragraph (b) the language ‘‘4958(a),
‘‘taxable event’’ in Treas. Reg. Administration for comment on its or 4965(a),’’ and adding ‘‘4958(a),
§ 53.4963–1. Qualified first tier taxes are impact on small entities. 4960(a), 4965(a), 4966(a), or 4967(a),’’ in
subject to abatement under section its place.
4962. Comments and Requests for Public The revision reads as follows:
Hearing
2. Requirement To File a Form 4720 § 53.6011–1 General requirement of return,
Before these proposed regulations are statement or list.
These proposed regulations amend adopted as final regulations,
Treas. Reg. § 53.6011–1(b) to provide * * * * *
consideration will be given to any
that persons (including governmental (b) Every person (including a
comments that are timely submitted to governmental entity) liable for tax
entities) that are liable for section 4960,
the IRS as prescribed in the preamble imposed by sections 4941(a), 4942(a),
4966, 4967, or 4968 excise taxes are
under the ADDRESSES section. All 4943(a), 4944(a), 4945(a), 4955(a),
required to file a return on Form 4720.
comments submitted will be made 4958(a), 4959, 4960(a), 4965(a), 4966(a),
3. Deadline for Filing a Form 4720 available at www.regulations.gov or 4967(a), or 4968(a), and every private
amozie on DSK3GDR082PROD with PROPOSALS1
Under § 53.6071–1(i) of these upon request. foundation and every trust described in
proposed regulations, a person required A public hearing will be scheduled if section 4947(a)(2) which has engaged in
to file a Form 4720 to report an excise requested in writing by any person that an act of self-dealing (as defined in
tax under section 4960, 4966, 4967, or timely submits written comments. If a section 4941(d)) (other than an act
4968 must file a Form 4720 by the 15th public hearing is scheduled, notice of giving rise to no tax under section
day of the fifth month after the end of the date, time, and place for the hearing 4941(a)) shall file an annual return on
the person’s taxable year during which will be published in the Federal Form 4720 and shall include therein the
the excise tax liability was incurred. Register. information required by such form and
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![55656 Federal Register / Vol. 83, No. 216 / Wednesday, November 7, 2018 / Proposed Rules
the instructions issued with respect for the proposed rule until December 10, ‘‘we,’’ ‘‘us,’’ or ‘‘our’’ is used, we mean
thereto. * * * 2018. the EPA.
* * * * * DATES: Written comments must be On October 11, 2018 (83 FR 51403),
received on or before December 10, we published in the Federal Register a
§ 53.6071–1 [Amended] 2018. proposed rule pertaining to revisions to
■ Par. 4. Section 53.6071–1 is amended the regional haze SIP and FIP for
ADDRESSES: Submit your comments,
by: Wyoming and requested comment by
identified by Docket ID No. EPA–R08–
■ 1. Redesignating paragraph (i) as November 13, 2018. Specifically, the
OAR–2018–0606, to the Federal
paragraph (j). SIP revisions modify the sulfur dioxide
Rulemaking Portal: https://
■ 2. Adding new paragraphs (i) and (SO2) emissions reporting requirements
www.regulations.gov. Follow the online
(j)(3). for Laramie River Station Units 1 and 2.
instructions for submitting comments.
The additions read as follows: The revisions to the FIP revise the
Once submitted, comments cannot be
nitrogen oxides (NOX) best available
§ 53.6071–1 Time for filing returns. edited or removed from
retrofit technology (BART) emission
www.regulations.gov. The EPA may
* * * * * limits for Laramie River Units 1—3 and
publish any comment received to its
(i) Taxes under section 4960, 4966, establish a SO2 emission limit averaged
public docket. Do not submit
4967, or 4968. A person (including a annually across both Laramie River
electronically any information you
governmental entity) required by Station Units 1 and 2.
consider to be Confidential Business
§ 53.6011–1(b) to file a return for a tax We received a request from several
Information (CBI) or other information
imposed by section 4960(a), 4966(a), organizations to extend the comment
whose disclosure is restricted by statute.
4967(a), or 4968(a) in a taxable year period and, in response, we are
Multimedia submissions (audio, video,
must file the Form 4720 on or before the extending the comment period to
etc.) must be accompanied by a written
15th day of the fifth month after the end December 10, 2018.1
comment. The written comment is
of the person’s taxable year (or, if the considered the official comment and List of Subjects in 40 CFR Part 52
person has not established a taxable should include discussion of all points
year for Federal income tax purposes, Environmental protection, Air
you wish to make. The EPA will pollution control, Incorporation by
the person’s annual accounting period). generally not consider comments or
(j) * * * reference, Intergovernmental relations,
comment contents located outside of the Nitrogen dioxide, Particulate matter,
(3) Paragraph (i) of this section primary submission (i.e., on the web,
applies on and after the date of Sulfur oxides.
cloud, or other file sharing system). For
publication of the Treasury decision additional submission methods, the full Authority: 42 U.S.C. 7401 et seq.
adopting these rules as final regulations EPA public comment policy, Dated: November 2, 2018.
in the Federal Register. information about CBI or multimedia Douglas Benevento,
Kirsten Wielobob, submissions, and general guidance on Regional Administrator, Region 8.
Deputy Commissioner for Services and making effective comments, please visit [FR Doc. 2018–24366 Filed 11–6–18; 8:45 am]
Enforcement. http://www.epa.gov/dockets/ BILLING CODE 6560–50–P
[FR Doc. 2018–24285 Filed 11–5–18; 4:15 pm] commenting-epa-dockets.
Docket: All documents in the docket
BILLING CODE 4830–01–P
are listed in the www.regulations.gov ENVIRONMENTAL PROTECTION
index. Although listed in the index, AGENCY
some information is not publicly
ENVIRONMENTAL PROTECTION available, e.g., CBI or other information 40 CFR Part 52
AGENCY whose disclosure is restricted by statute.
[EPA–R08–OAR–2018–0607; FRL–9986–03–
Certain other material, such as
40 CFR Part 52 Region 8]
copyrighted material, will be publicly
[EPA–R08–OAR–2018–0606; FRL–9986–09– available only in hard copy. Publicly Approval and Promulgation of Air
Region 8] available docket materials are available Quality Implementation Plans;
either electronically in Wyoming; Revisions to Regional Haze
Approval and Promulgation of Air www.regulations.gov or in hard copy at State Implementation Plan
Quality Implementation Plans; the Air Program, Environmental
Wyoming; Revisions to Regional Haze Protection Agency (EPA), Region 8, AGENCY: Environmental Protection
State Implementation Plan; Revisions 1595 Wynkoop Street, Denver, Colorado Agency (EPA).
to Regional Haze Federal 80202–1129. The EPA requests that, if at ACTION: Proposed rule.
Implementation Plan all possible, you contact the individual
SUMMARY: The Environmental Protection
AGENCY: Environmental Protection listed in the FOR FURTHER INFORMATION
Agency (EPA) is proposing to approve a
Agency (EPA). CONTACT section to view the hard copy
source-specific revision to the Wyoming
of the docket. You may view the hard
ACTION: Proposed rule; extension of State Implementation Plan (SIP) that
copy of the docket Monday through
comment period. provides an alternative to Best Available
Friday, 8:00 a.m. to 4:00 p.m., excluding
Retrofit Technology (BART) for Unit 3 at
SUMMARY: On October 11, 2018, the federal holidays.
the Naughton Power Plant (‘‘the SIP
amozie on DSK3GDR082PROD with PROPOSALS1
Environmental Protection Agency (EPA) FOR FURTHER INFORMATION CONTACT: revision’’) that is owned and operated
published in the Federal Register a Jaslyn Dobrahner, Air Program, EPA, by PacifiCorp. The EPA proposes to find
proposed rule pertaining to revisions to Region 8, Mailcode 8P–AR, 1595 that the BART alternative for Naughton
the regional haze State Implementation Wynkoop Street, Denver, Colorado, Unit 3 would provide greater reasonable
Plan (SIP) and Federal Implementation 80202–1129, (303) 312–6252, progress toward natural visibility
Plan (FIP) for Wyoming and requested dobrahner.jaslyn@epa.gov.
comments by November 13, 2018. The SUPPLEMENTARY INFORMATION: 1 A copy of the letter requesting the extension
EPA is extending the comment period Throughout this document wherever appears in the docket for this action.
VerDate Sep<11>2014 17:02 Nov 06, 2018 Jkt 247001 PO 00000 Frm 00014 Fmt 4702 Sfmt 4702 E:\FR\FM\07NOP1.SGM 07NOP1](https://thefederalregister.org/doc/83_FR_55869/page/4.svg)
Document Created: 2018-11-07 00:04:43
Document Modified: 2018-11-07 00:04:43
| 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 | Proposed Rules | |
| Action | Notice of proposed rulemaking. | |
| Dates | Written or electronic comments and requests for a public hearing must be received by December 7, 2018. | |
| Contact | Concerning the proposed regulations, Amber L. MacKenzie at (202) 317-4086 or Ward L. Thomas at (202) 317- 6173; concerning submission of comments and request for hearing, Regina Johnson at (202) 317-6901 (not toll-free numbers). | |
| FR Citation | 83 FR 55653 | |
| RIN Number | 1545-BO80 | |
| CFR Associated | Excise Taxes; Foundations; Investments; Lobbying and Reporting and Recordkeeping Requirements |
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