Federal Register / Vol. 82, No. 188 / Friday, September 29, 2017 / Notices 45675 

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, 

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 

certain returned magazines, paperbacks, 

or records. 

DATES: Written comments should be 

received on or before November 28, 

2017 to be assured of consideration. 

ADDRESSES: Direct all written comments 

to L. Brimmer, Internal Revenue 

Service, Room 6526, 1111 Constitution 

Avenue NW., Washington, DC 20224. 

Requests for additional information or 

copies of the regulation should be 

directed to Sara Covington, at Internal 

Revenue Service, Room 6526, 1111 

Constitution Avenue NW., Washington, 

DC 20224 or, through the Internet, at 

Sara.L.Covington@irs.gov. 

SUPPLEMENTARY INFORMATION: 

Title: Certain Returned Magazines, 

Paperbacks, or Records. 

OMB Number: 1545–0879. Regulation 

Project Number: TD 8426 (IA–195–78). 

Abstract: The regulations provide 

rules relating to an exclusion from gross 

income for certain returned 

merchandise. The regulations provide 

that in addition to physical return of the 

merchandise, a written statement listing 

certain information may constitute 

evidence of the return. Taxpayers who 

receive physical evidence of the return 

may, in lieu of retaining physical 

evidence, retain documentary evidence 

of the return. Taxpayers in the trade or 

business of selling magazines, 

paperbacks, or records, who elect a 

certain method of accounting, are 

affected. 

Current Actions: There is no change to 

this existing regulation. 

Type of Review: Extension of a 

currently approved collection. 

Affected Public: Business or other forprofit organizations. 

Estimated Number of Respondents: 

19,500. 

Estimated Time per Respondent: 25 

minutes. 

Estimated Total Annual Burden 

Hours: 8,125 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; 

(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: September 21, 2017. 

L. Brimmer, 

Senior Tax Analyst. 

[FR Doc. 2017–20874 Filed 9–28–17; 8:45 am] 

BILLING CODE 4830–01–P 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

Proposed Collection; Comment 

Request for Form 1099–C and TD 9793 

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 information 

collections, as required by the 

Paperwork Reduction Act of 1995. The 

IRS is soliciting comments concerning 

cancellation of debt and removal of the 

36-month non-payment testing period 

rule. 

DATES: Written comments should be 

received on or before November 28, 

2017 to be assured of consideration. 

ADDRESSES: Direct all written comments 

to L. Brimmer, Internal Revenue 

Service, Room 6526, 1111 Constitution 

Avenue NW., Washington, DC 20224. 

Requests for additional information or 

copies of the form and instructions 

should be directed to Sara Covington, at 

Internal Revenue Service, Room 6526, 

1111 Constitution Avenue NW., 

Washington, DC 20224 or through the 

Internet at Sara.L.Covington@irs,gov. 

SUPPLEMENTARY INFORMATION: 

Title: Cancellation of Debt. 

OMB Number: 1545–1424. 

Form Number: 1099–C. 

Regulation Project Number: TD 9793. 

Abstract: Form 1099–C is used by 

Federal government agencies, financial 

institutions, and credit unions to report 

the cancellation or forgiveness of a debt 

of $600 or more, as required by section 

6050P of the Internal Revenue Code. 

The IRS uses the form to verify 

compliance with the reporting rules and 

to verify that the debtor has included 

the proper amount of canceled debt in 

income on his or her income tax return. 

TD: 9793. 

Abstract: These regulations under 

section 6050P of the Internal Revenue 

Code (Code), relating to the rule in 

§ 1.6050P–1(b)(2)(iv) that the 36-month 

non-payment testing period is an 

identifiable event triggering an 

information reporting obligation on 

Form 1099–C for discharge of 

indebtedness by certain entities. 

Current Actions: There are no major 

changes being made to the form or 

regulations. However, there are changes 

to the estimated number of filers 

(3,885,872 to 6,540,900) will result in a 

total burden increase of 584,106 

(854,892 to 1,438,998). 

Type of Review: Revision of a 

currently approved collection. 

Affected Public: Business or other forprofit organizations, not-for-profit 

institutions, and the Federal 

government. 

Estimated Number of Responses: 

6,540,900. 

Estimated Time per Response: 13 min. 

Estimated Total Annual Burden 

Hours: 1,438,998. 

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. 


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