35868 Federal Register / Vol. 86, No. 127 / Wednesday, July 7, 2021 / Notices 

the Order, or any other sanctions 

program implemented by the Office of 

Foreign Assets Control. 

Except to the extent otherwise 

provided by law or unless licensed or 

otherwise authorized by the Office of 

Foreign Assets Control, the following 

are also prohibited: (1) Any transaction 

that evades or avoids, has the purpose 

of evading or avoiding, causes a 

violation of, or attempts to violate any 

of the prohibitions contained in this 

Directive; and (2) any conspiracy 

formed to violate any of the prohibitions 

in this Directive. April 15, 2021. 

Dated: June 30, 2021. 

Bradley T. Smith, 

Acting Director, Office of Foreign Assets 

Control. 

[FR Doc. 2021–14339 Filed 7–6–21; 8:45 am] 

BILLING CODE 4810–AL–P 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

Proposed Collection; Comment 

Request for Information Collection 

Tools Relating to the Offshore 

Voluntary Disclosure Program (OVDP) 

AGENCY: Internal Revenue Service (IRS), 

Treasury. 

ACTION: Notice and request for 

comments. 

SUMMARY: The Internal Revenue Service, 

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 continuing 

information collections, as required by 

the Paperwork Reduction Act of 1995. 

The IRS is soliciting comments 

concerning the offshore voluntary 

disclosure program. 

DATES: Written comments should be 

received on or before September 7, 2021 

to be assured of consideration. 

ADDRESSES: Direct all written comments 

to Kinna Brewington, Internal Revenue 

Service, Room 6526, 1111 Constitution 

Avenue NW, Washington, DC 20224. 

FOR FURTHER INFORMATION CONTACT: 

Requests for additional information or 

copies of the form should be directed to 

Kerry Dennis, at (202) 317–5751 or 

Internal Revenue Service, Room 6526, 

1111 Constitution Avenue NW, 

Washington, DC 20224, or through the 

internet, at Kerry.Dennis@irs.gov. 

SUPPLEMENTARY INFORMATION: 

Title: Offshore Voluntary Disclosure 

Program (OVDP). 

OMB Number: 1545–2241. 

Form Number(s): 14452, 14453, 

14454, 14457, 14467, 14653, 14654, and 

14708. 

Abstract: The IRS is offering people 

with undisclosed income from offshore 

accounts an opportunity to get current 

with their tax returns. Taxpayers with 

undisclosed foreign accounts or entities 

should make a voluntary disclosure 

because it enables them to become 

compliant, avoid substantial civil 

penalties and generally eliminate the 

risk of criminal prosecution. The 

objective is to bring taxpayers that have 

used undisclosed foreign accounts and 

undisclosed foreign entities to avoid or 

evade tax into compliance with United 

States tax laws. 

Current Actions: There is no change 

in the paperwork burden previously 

approved by OMB procedure. 

Type of Review: Extension of a 

currently approved collection. 

Affected Public: Individuals or 

Households. 

Estimated Number of Respondents: 

474,569. 

Estimated Time per Response: 1 hour, 

49 min. 

Estimated Total Annual Burden 

Hours: 863,638. 

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. 

Request for Comments: Comments 

submitted in response to this notice will 

be summarized and/or included in the 

request for OMB approval. All 

comments will become a matter of 

public record. Comments are invited on: 

(a) Whether the collection of 

information is necessary for the proper 

performance of the functions of the 

agency, including whether the 

information shall have practical utility; 

(b) the accuracy of the agency’s estimate 

of the burden of the collection of 

information; (c) ways to enhance the 

quality, utility, and clarity of the 

information to be collected; (d) ways to 

minimize the burden of the collection of 

information on respondents, including 

through the use of automated collection 

techniques or other forms of information 

technology; and (e) estimates of capital 

or start-up costs and costs of operation, 

maintenance, and purchase of services 

to provide information. 

Approved: June 30, 2021. 

Kerry L. Dennis, 

Tax Analyst. 

[FR Doc. 2021–14375 Filed 7–6–21; 8:45 am] 

BILLING CODE 4830–01–P 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

Proposed Collection; Comment 

Request on Reduction of Tax 

Attributes Due to Discharge of 

Indebtedness 

AGENCY: Internal Revenue Service (IRS), 

Treasury. 

ACTION: Notice and request for 

comments. 

SUMMARY: The Internal Revenue Service, 

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 continuing 

information collections, as required by 

the reduction of tax attributes due to 

discharge of indebtedness. 

DATES: Written comments should be 

received on or before September 7, 2021 

to be assured of consideration. 

ADDRESSES: Direct all written comments 

to Kinna Brewington, Internal Revenue 

Service, Room 6526, 1111 Constitution 

Avenue NW, Washington, DC 20224. 

FOR FURTHER INFORMATION CONTACT: 

Requests for additional information or 

copies of the form should be directed to 

Kerry Dennis, at (202) 317–5751 or 

Internal Revenue Service, Room 6526, 

1111 Constitution Avenue NW, 

Washington, DC 20224, or through the 

internet, at Kerry.Dennis@irs.gov. 

SUPPLEMENTARY INFORMATION: 

Title: Reduction of Tax Attributes Due 

to Discharge of Indebtedness. 

OMB Number: 1545–0046. 

Form Number(s): 982. 

Abstract: Reduction of Tax Attributes 

Due to Discharge of Indebtedness. 

Internal Revenue Code (IRC) section 108 

allows taxpayers to exclude from gross 

income amounts attributable to 

discharge of indebtedness in title 11 

cases, insolvency or a qualified farm 

indebtedness. Section 1081(b) allows 

corporations to exclude from gross 

income amounts attributable to certain 

transfers of property. The data is used 

to verify adjustments to basis of 

property and reduction of tax attributes. 

Current Actions: There is no change 

in the form or paperwork burden 

previously approved by OMB. 


khammond on DSKJM1Z7X2PROD with NOTICES
Federal Register / Vol. 86, No. 127 / Wednesday, July 7, 2021 / Notices 35869 

Type of Review: Extension of a 

currently approved collection. 

Affected Public: Individuals or 

households, Businesses or other for 

profit, Small businesses or 

organizations. 

Estimated Number of Respondents: 

667. 

Estimated Time per Response: 11 

hour, 23 min. 

Estimated Total Annual Burden 

Hours: 7,491. 

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. 

Request for Comments: Comments 

submitted in response to this notice will 

be summarized and/or included in the 

request for OMB approval. All 

comments will become a matter of 

public record. Comments are invited on: 

(a) Whether the collection of 

information is necessary for the proper 

performance of the functions of the 

agency, including whether the 

information shall have practical utility; 

(b) the accuracy of the agency’s estimate 

of the burden of the collection of 

information; (c) ways to enhance the 

quality, utility, and clarity of the 

information to be collected; (d) ways to 

minimize the burden of the collection of 

information on respondents, including 

through the use of automated collection 

techniques or other forms of information 

technology; and (e) estimates of capital 

or start-up costs and costs of operation, 

maintenance, and purchase of services 

to provide information. 

Approved: June 29, 2021. 

Kerry L. Dennis, 

Tax Analyst. 

[FR Doc. 2021–14374 Filed 7–6–21; 8:45 am] 

BILLING CODE 4830–01–P 

DEPARTMENT OF THE TREASURY 

Departmental Offices Debt 

Management Advisory Committee 

Meeting 

Notice is hereby given, pursuant to 5 

U.S.C. App. 2, § 10(a)(2), that a meeting 

will take place via conference call on 

August 3, 2021 at 10:45 a.m. of the 

following debt management advisory 

committee: Treasury Borrowing 

Advisory Committee. 

At this meeting, the Treasury is 

seeking advice from the Committee on 

topics related to the economy, financial 

markets, Treasury financing, and debt 

management. Following the working 

session, the Committee will present a 

written report of its recommendations. 

The meeting will be closed to the 

public, pursuant to 5 U.S.C. App. 2, 

§ 10(d) and Public Law 103–202, 

§ 202(c)(1)(B) (31 U.S.C. 3121 note). 

This notice shall constitute my 

determination, pursuant to the authority 

placed in heads of agencies by 5 U.S.C. 

App. 2, § 10(d) and vested in me by 

Treasury Department Order No. 101–05, 

that the meeting will consist of 

discussions and debates of the issues 

presented to the Committee by the 

Secretary of the Treasury and the 

making of recommendations of the 

Committee to the Secretary, pursuant to 

Public Law 103–202, § 202(c)(1)(B). 

Thus, this information is exempt from 

disclosure under that provision and 5 

U.S.C. 552b(c)(3)(B). In addition, the 

meeting is concerned with information 

that is exempt from disclosure under 5 

U.S.C. 552b(c)(9)(A). The public interest 

requires that such meetings be closed to 

the public because the Treasury 

Department requires frank and full 

advice from representatives of the 

financial community prior to making its 

final decisions on major financing 

operations. Historically, this advice has 

been offered by debt management 

advisory committees established by the 

several major segments of the financial 

community. When so utilized, such a 

committee is recognized to be an 

advisory committee under 5 U.S.C. App. 

2, § 3. 

Although the Treasury’s final 

announcement of financing plans may 

not reflect the recommendations 

provided in reports of the Committee, 

premature disclosure of the Committee’s 

deliberations and reports would be 

likely to lead to significant financial 

speculation in the securities market. 

Thus, this meeting falls within the 

exemption covered by 5 U.S.C. 

552b(c)(9)(A). 

The Office of Debt Management is 

responsible for maintaining records of 

debt management advisory committee 

meetings and for providing annual 

reports setting forth a summary of 

Committee activities and such other 

matters as may be informative to the 

public consistent with the policy of 5 

U.S.C. 552(b). The Designated Federal 

Officer or other responsible agency 

official who may be contacted for 

additional information is Fred 

Pietrangeli, Director for Office of Debt 

Management (202) 622–1876. 

Dated: June 30, 2021. 

Frederick E. Pietrangeli, 

Director, Office of Debt Management. 

[FR Doc. 2021–14394 Filed 7–6–21; 8:45 am] 

BILLING CODE 4810–25–P 

DEPARTMENT OF THE TREASURY 

Renewal of the Charter of the Federal 

Advisory Committee on Insurance 

AGENCY: Departmental Offices, U.S. 

Department of the Treasury. 

ACTION: Notice of charter renewal. 

SUMMARY: The charter for the Federal 

Advisory Committee on Insurance 

(FACI) has been renewed for a two-year 

period beginning June 10, 2021. 

FOR FURTHER INFORMATION CONTACT: Jigar 

Gandhi, Senior Insurance Regulatory 

Policy Analyst, Federal Insurance 

Office, Department of the Treasury, 

1500 Pennsylvania Ave. NW, Room 

1410 MT, Washington, DC 20220, at 

(202) 622–3220 (this is not a toll-free 

number). Persons who have difficulty 

hearing or speaking may access this 

number via TTY by calling the toll-free 

Federal Relay Service at (800) 877–8339. 

SUPPLEMENTARY INFORMATION: Notice is 

hereby given under 41 CFR 102–3.65, 

pursuant to the Federal Advisory 

Committee Act (5 U.S.C. Appendix), 

that the FACI has been renewed for an 

additional two years beginning June 10, 

2021. The purpose of the FACI is to 

present advice and recommendations to 

the Federal Insurance Office (FIO) in 

performing its duties and authorities. 

The advice and recommendations may 

cover specific or general insurance 

topics, processes, studies, and/or 

reports. The duties of the FACI shall be 

solely advisory and shall extend only to 

the submission of advice and 

recommendations, which shall be nonbinding, to FIO. The FACI meets on a 

periodic basis, and its membership is 

balanced to include a cross-section of 

representative views of state and nongovernment persons having an interest 

in the duties and authorities of FIO. 

Dated: July 1, 2021. 

Steven Seitz, 

Performing the Delegable Duties of Assistant 

Secretary for Financial Institutions. 

[FR Doc. 2021–14444 Filed 7–6–21; 8:45 am] 

BILLING CODE 4810–AK–P 


khammond on DSKJM1Z7X2PROD with NOTICES