Search Results for agency_names:"Agency Information Collection Activities

The Treasury Department and the Internal Revenue Service have issued final regulations about deductions under section 162(f) of the Internal Revenue Code. These rules clarify when taxpayers can deduct fines, penalties, or settlement payments related to law violations. Under these new regulations, businesses generally cannot deduct payments to government entities made because they violated a law, but exceptions exist for certain restitution and remediation payments. Additionally, section 6050X introduces information reporting requirements for governments when payments exceed $50,000, aiming to ensure proper tax reporting and compliance while minimizing burdens on small entities.

The final rule published by the Food and Nutrition Service (FNS) modifies SNAP's Employment and Training (E&T) program following the 2018 Agriculture Improvement Act. The rule aims to strengthen support systems for SNAP participants by introducing several changes: it replaces traditional job search activities with supervised job search, requires case management for all participants, adds apprenticeships and subsidized employment activities, and enforces a minimum period for job retention services. The rule also mandates more robust state accountability measures, including detailed participant notifications about their work requirements and better data collection on participant outcomes.

The Treasury Department's Internal Revenue Service (IRS) is requesting public comments on forms used by business entities, as part of efforts to reduce paperwork and respondent burden. This request is in compliance with the Paperwork Reduction Act of 1995 and involves forms such as 1065, 1120, and others related to business income tax returns. The IRS estimates that 13.9 million respondents will spend an average of 67 hours and 25 minutes, with a total annual monetized time valued at $56,152,000,000, and total out-of-pocket costs at $71,617,000,000. Comments are to be received by January 21, 2025, to ensure consideration.

The Office of Surface Mining Reclamation and Enforcement, part of the Interior Department, has announced a proposal to renew an information collection under the Paperwork Reduction Act of 1995. This collection concerns the bond and insurance requirements for companies involved in surface coal mining and reclamation operations. They are seeking public comments on aspects such as the necessity, timeliness, and accuracy of this collection process. Interested parties are encouraged to submit their feedback by February 4, 2025.

The Securities and Exchange Commission (SEC) is seeking public comments on the information collection requirements set forth in Rule 6a-3 under the Securities Exchange Act of 1934. This rule mandates national securities exchanges to provide the SEC with certain information, such as reports and materials issued to exchange members. The SEC estimates that these exchanges collectively spend 156 hours annually fulfilling these requirements. Comments are welcomed on the necessity and usefulness of the rule, estimated burdens, and potential improvements, and must be submitted by February 18, 2025.

The National Marine Fisheries Service (NMFS) is proposing a rule to set annual catch limits for Pacific bluefin tuna in the eastern Pacific Ocean for 2021. This rule follows an international agreement to help preserve this overfished species. The total limit for U.S. commercial fishing is set at 425 metric tons with specific trip limits that decrease as cumulative catches increase throughout the year, ensuring tighter control over the fishing activities. Comments on this proposal must be submitted by February 4, 2021.

The U.S. Environmental Protection Agency (EPA) has proposed a new rule focusing on the labeling of E15 fuel dispensers and the compatibility of underground storage tanks (USTs) with ethanol blends. The proposal includes potential changes to or removal of current E15 labels that alert consumers to the appropriate use of the fuel. Additionally, the EPA seeks to ensure that USTs can satisfactorily contain high ethanol blends and proposes rule revisions for future installations or component replacements to meet these compatibility requirements. Public comments on these proposals are invited, emphasizing efforts to adapt fueling infrastructure to evolving fuel standards while maintaining environmental safety.

The Securities and Exchange Commission (SEC) is asking for public comments on a rule regarding information collection under the Paperwork Reduction Act. This rule, known as Rule 0-4, provides guidelines for submitting applications to the SEC for exemptions from certain requirements of the Investment Advisers Act. The SEC estimates that it receives around seven applications per year, with varying costs based on complexity—these costs range from approximately $15,259 to $238,762. The public can submit comments on the necessity and efficiency of this information collection until May 19, 2025.

The Securities and Exchange Commission (SEC) is seeking to extend its current rules on collecting information under the Paperwork Reduction Act of 1995. Rule 22e-3 allows money market funds to suspend redemptions temporarily if it helps with an orderly fund liquidation, but they must notify the SEC of such suspensions. The SEC estimates that compliance with this rule will involve minimal effort, requiring about an hour of a lawyer's time each year. The public is invited to comment on the necessity and burden of this information collection by February 14, 2025.

The Securities and Exchange Commission (SEC) is seeking public comments on its plan to extend the information collection required under Rule 12b-1. This rule allows investment funds to cover costs related to distributing their shares if certain conditions are met. It mandates funds to have a written plan approved by directors and shareholders, and to maintain records for oversight. The rule aims to protect investors by ensuring funds are transparent about their distribution expenses. Comments on the necessity, burden, and improvement of this information collection are invited by March 31, 2025.