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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 agencys 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. 202120018 Filed 91521; 8:45 am BILLING CODE 483001P

DEPARTMENT OF THE TREASURY
Internal Revenue Service Proposed Collection; Comment Request for Rev. Proc. 9917
Internal Revenue Service IRS, Treasury.
ACTION: Notice and request for comments.
AGENCY:

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
3176009, or at Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW, Washington, DC 20224, or through the internet at Lanita.VanDyke@irs.gov.
SUMMARY:

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SUPPLEMENTARY INFORMATION:

Title: Mark to Market Election for Commodities Dealers and Securities and Commodities Traders.
OMB Number: 15451641 Revenue Procedure Number: Rev. Proc. 9917
Revenue Procedure 9917 is modified by Revenue Procedure 9949.
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. 475e 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. 475e 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 agencys 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;

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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. 202120021 Filed 91521; 8:45 am BILLING CODE 483001P

DEPARTMENT OF THE TREASURY
Internal Revenue Service Proposed Collection; Comment Request for Regulation Project Internal Revenue Service IRS, Treasury.
ACTION: Notice and request for comments.
AGENCY:

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: 15451290.
Regulation Project Number: TD 8513.
Abstract: Section 585c 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 1.5858 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.
SUMMARY:

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