51726 Federal Register / Vol. 86, No. 177 / Thursday, September 16, 2021 / Notices 

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: August 26, 2021. 

Chakinna B. Clemons, 

Supervisory Tax Analyst. 

[FR Doc. 2021–20018 Filed 9–15–21; 8:45 am] 

BILLING CODE 4830–01–P 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

Proposed Collection; Comment 

Request for Rev. Proc. 99–17 

AGENCY: Internal Revenue Service (IRS), 

Treasury. 

ACTION: Notice and request for 

comments. 

SUMMARY: The Internal Revenue Service 

(IRS), 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 information 

collections, as required by the 

Paperwork Reduction Act of 1995. The 

IRS is soliciting comments concerning 

Mark to Market Election for 

Commodities Dealers and Securities and 

Commodities Traders. 

DATES: Written comments should be 

received on or before November 15, 

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 this revenue procedure should 

be directed to LaNita Van Dyke, (202) 

317–6009, or at Internal Revenue 

Service, Room 6526, 1111 Constitution 

Avenue NW, Washington, DC 20224, or 

through the internet at 

Lanita.VanDyke@irs.gov. 

SUPPLEMENTARY INFORMATION: 

Title: Mark to Market Election for 

Commodities Dealers and Securities and 

Commodities Traders. 

OMB Number: 1545–1641 Revenue 

Procedure Number: Rev. Proc. 99–17 

(Revenue Procedure 99–17 is modified 

by Revenue Procedure 99–49). 

Abstract: The revenue procedure 

prescribes the time and manner for 

dealers in commodities and traders in 

securities or commodities to elect to use 

the mark-to-market method of 

accounting under Sec. 475(e) or (f) of 

the Internal Revenue Code. The 

collections of information of this 

revenue procedure are required by the 

IRS in order to facilitate monitoring 

taxpayers changing accounting methods 

resulting from making the elections 

under Sec. 475(e) or (f). 

Current Actions: There are no changes 

being made to this Rev. Proc. at this 

time. 

Type of Review: Extension of a 

currently approved collection. 

Affected Public: Business or other forprofit organizations. 

Estimated Number of Respondents: 

1,000. 

Estimated Time per Respondent: 30 

mins. 

Estimated Total Annual Burden 

Hours: 500. 

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. Comments 

will be 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 has 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 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: August 26, 2021. 

Chakinna B. Clemons, 

Supervisory Tax Analyst. 

[FR Doc. 2021–20021 Filed 9–15–21; 8:45 am] 

BILLING CODE 4830–01–P 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

Proposed Collection; Comment 

Request for Regulation Project 

AGENCY: Internal Revenue Service (IRS), 

Treasury. 

ACTION: Notice and request for 

comments. 

SUMMARY: The Internal Revenue Service 

(IRS), 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 information 

collections, as required by the 

Paperwork Reduction Act of 1995. The 

IRS is soliciting comments concerning 

Bad Debt Reserves of Banks. 

DATES: Written comments should be 

received on or before November 15, 

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 regulation should be 

directed to LaNita Van Dyke, (202) 317– 

6009, or at Internal Revenue Service, 

Room 6526, 1111 Constitution Avenue 

NW, Washington, DC 20224, or through 

the internet at Lanita.VanDyke@irs.gov. 

SUPPLEMENTARY INFORMATION: 

Title: Bad Debt Reserves of Banks. 

OMB Number: 1545–1290. 

Regulation Project Number: TD 8513. 

Abstract: Section 585(c) of the 

Internal Revenue Code requires large 

banks to change from reserve method of 

accounting to the specific charge off 

method of accounting for bad debts. 

Section 1.585–8 of the regulation 

contains reporting requirements in cases 

in which large banks elect (1) to include 

in income an amount greater than that 

prescribed by the Code; (2) to use the 

elective cut-off method of accounting; or 

(3) to revoke any elections previously 

made. 

Current Actions: There is no change to 

this existing regulation. 

Type of Review: Extension of a 

currently approved collection.