Proposed Collection; Comment Request for Form 8849, 4916-4917 [05-1739]

Download as PDF 4916 Federal Register / Vol. 70, No. 19 / Monday, January 31, 2005 / Notices FOR FURTHER INFORMATION CONTACT: Requests for additional information or copies of the regulations should be directed to Larnice Mack at Internal Revenue Service, room 6512, 1111 Constitution Avenue, NW., Washington, DC 20224, or at (202)622–3179, or through the Internet at (Larnice.Mack@irs.gov). SUPPLEMENTARY INFORMATION: Title: Certain Transfers of Property to Regulated Investment Companies (RICs) and Real Estate Investment Trusts (REITs). OMB Number: 1545–1672. Regulation Project Number: REG–142299–01 and REG–209135–88. Abstract: The regulation applies with respect to the net built-in gain of C corporation property that becomes property of a Regulated Investment Company (RIC) or Real Estate Investment Trust (REIT) by the qualification of a C corporation as a RIC or REIT or by the transfer of property of a C corporation to a RIC or REIT in certain tax-free transactions. Depending on the date of the transfer of property or qualification as a RIC or REIT, the regulation provides that either (1) the C corporation will recognize gain as if it had sold the property at fair market value unless the RIC or REIT elects section 1374 treatment or (2) the RIC or REIT will be subject to section 1374 treatment with respect to the net recognized built-in-gain, unless the C corporation elects deemed sale treatment. The regulation provides that a section 1374 election is made by filing a statement, signed by an official authorized to sign the income tax return of the RIC or REIT and attached to the RIC’s or REIT’s Federal income tax return for the taxable year in which the property of the C corporation becomes the property of the RIC or REIT. The regulation provides that a deemed sale election is made by filing a statement, signed by an official authorized to sign the income tax return of the C corporation and attached to the C corporation’s Federal income tax return for the taxable year in which the deemed sale occurs. Current Actions: There are no changes being made to this existing regulation. Type of Review: Extension of currently approved collection. Affected Public: Business or other forprofit organizations. Estimated Number of Respondents: 140. Estimated Time Per Respondent: 30 minutes. Estimated Total Annual Burden Hours: 70. VerDate jul<14>2003 16:59 Jan 28, 2005 Jkt 205001 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: January 21, 2005. Paul Finger, IRS Reports Clearance Officer. [FR Doc. 05–1738 Filed 1–28–05; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Form 8849 Internal Revenue Service (IRS), Treasury. ACTION: Notice and request for comments. AGENCY: SUMMARY: The Department of the Treasury, 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 proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995, Pub. L. 104–13 (44 U.S.C. 3506(c)(2)(A)). PO 00000 Frm 00105 Fmt 4703 Sfmt 4703 Currently, the IRS is soliciting comments concerning Form 8849,Claim for Refund of Excise Taxes. DATES: Written comments should be received on or before April 1, 2005 to be assured of consideration. ADDRESSES: Direct all written comments to Paul Finger, Internal Revenue Service, room 65165, 1111 Constitution Avenue, NW., Washington, DC 20224. FOR FURTHER INFORMATION CONTACT: Requests for additional information or copies of the form and instructions should be directed to Allan Hopkins, at (202) 622–6665, or at Internal Revenue Service, room 6516, 1111 Constitution Avenue, NW., Washington, DC 20224, or through the internet, at Allan.M.Hopkins@irs.gov. SUPPLEMENTARY INFORMATION: Title: Claim for Refund of Excise Taxes. OMB Number: 1545–1420. Form Number: 8849. Abstract: Sections 6402, 6404, sections 301.6402–2, 301.6404–1, and 301.6404–3 of the regulations allow for refunds of taxes (except income taxes) or refund, abatement, or credit or interest, penalties, and additions to tax in the event of errors or certain actions by the IRS. Form 8849 is used by taxpayers to claim refunds of excise taxes. Current Actions: There are no changes being made to the form at this time. Type of Review: Extension of a currently approved collection. Affected Public: Business or other forprofit organizations, individuals or households, and not-for-profit institutions, farms, and Federal, state, local or tribal governments. Estimated Number of Respondents: 125,292. Estimated Time Per Respondent: 14 hours, 56 minutes. Estimated Total Annual Burden Hours: 1,871,713. 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 E:\FR\FM\31JAN1.SGM 31JAN1 Federal Register / Vol. 70, No. 19 / Monday, January 31, 2005 / Notices 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: January 19, 2005. Paul Finger, IRS Reports Clearance Officer. [FR Doc. 05–1739 Filed 1–28–05; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service [REG–120168–97] Proposed Collection; Comment Request for Regulation Project Internal Revenue Service (IRS), Treasury. ACTION: Notice and request for comments. AGENCY: SUMMARY: The Department of the Treasury, 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 proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995, Pub. L. 104–13 (44 U.S.C. 3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning an existing final regulation, REG–120168–97 (TD 8798), Preparer Due Diligence Requirements for Determining Earned Income Credit Eligibility. DATES: Written comments should be received on or before April 1, 2005, to be assured of consideration. ADDRESSES: Direct all written comments to Paul Finger, Internal Revenue Service, room 6416, 1111 Constitution Avenue, NW., Washington, DC 20224. FOR FURTHER INFORMATION CONTACT: Requests for additional information or copies of the regulation should be directed to Allan Hopkins, at (202) 622– 6665, or at Internal Revenue Service, VerDate jul<14>2003 16:59 Jan 28, 2005 Jkt 205001 4917 room 6516, 1111 Constitution Avenue, NW., Washington, DC 20224, or through the Internet, at Allan.M.Hopkins@irs.gov. technology; and (e) estimates of capital or start-up costs and costs of operation, maintenance, and purchase of services to provide information. SUPPLEMENTARY INFORMATION: Approved: January 21, 2005. Paul Finger, IRS Reports Clearance Officer. [FR Doc. 05–1740 Filed 1–28–05; 8:45 am] Title: Preparer Due Diligence Requirements for Determining Earned Income Credit Eligibility. OMB Number: 1545–1570. Regulation Project Number: REG– 120168–97. Abstract: Income tax return preparers who satisfy the due diligence requirements in this regulation will avoid the imposition of the penalty section 6695(g) of the Internal Revenue Code for returns or claims for refund due after December 31, 1997. The due diligence requirements include soliciting the information necessary to determine a taxpayer’s eligibility for, and amount of, the Earned Income Tax Credit and the retention of this information. Current Actions: There are no changes being made to this existing regulation. Type of Review: Extension of a currently approved collection. Affected Public: Business or other forprofit. Estimated Number of Respondents: 100,000. Estimated Time Per Respondent: 5 hours, 4 minutes. Estimated Total Annual Burden Hours: 507,136. 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 PO 00000 Frm 00106 Fmt 4703 Sfmt 4703 BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Open Meeting of the Earned Income Tax Credit Committee of the Taxpayer Advocacy Panel Internal Revenue Service (IRS), Treasury. AGENCY: ACTION: Notice. SUMMARY: An open meeting of the Earned Income Tax Credit Committee of the Taxpayer Advocacy Panel will be conducted (via teleconference). The Committee will be discussing issues pertaining to the IRS administration of the Earned Income Tax Credit. The meeting will be held Thursday, February 17, 2005. DATES: FOR FURTHER INFORMATION CONTACT: Audrey Y. Jenkins at 1–888–912–1227 (toll-free), or 718–488–2085 (non tollfree). Notice is hereby given pursuant to Section 10(a)(2) of the Federal Advisory Committee Act, 5 U.S.C. App. (1988) that an open meeting of the Earned Income Tax Credit Committee of the Taxpayer Advocacy Panel will be held Thursday, February 17, 2005 from 2 p.m. to 3:30 p.m. ET via a telephone conference call. The public is invited to make oral comments. Individual comments will be limited to 5 minutes. Due to limited conference lines, notification of intent to participate in the telephone conference call meeting must be made in advance by contacting Audrey Y. Jenkins. To confirm attendance or for more information, Ms. Jenkins may be reached at 1–888–912– 1227 or (718) 488–2085. If you would like a written statement to be considered, send written comments to Audrey Y. Jenkins, TAP Office, 10 MetroTech Center, 625 Fulton Street, Brooklyn, NY 11201 or post your comments to the Web site: www.improveirs.org. The agenda will include various IRS issues. SUPPLEMENTARY INFORMATION: E:\FR\FM\31JAN1.SGM 31JAN1

Agencies

[Federal Register Volume 70, Number 19 (Monday, January 31, 2005)]
[Notices]
[Pages 4916-4917]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 05-1739]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Form 8849

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

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SUMMARY: The Department of the Treasury, 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 proposed and/or continuing information collections, as required by 
the Paperwork Reduction Act of 1995, Pub. L. 104-13 (44 U.S.C. 
3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning 
Form 8849,Claim for Refund of Excise Taxes.

DATES: Written comments should be received on or before April 1, 2005 
to be assured of consideration.

ADDRESSES: Direct all written comments to Paul Finger, Internal Revenue 
Service, room 65165, 1111 Constitution Avenue, NW., Washington, DC 
20224.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the form and instructions should be directed to Allan 
Hopkins, at (202) 622-6665, or at Internal Revenue Service, room 6516, 
1111 Constitution Avenue, NW., Washington, DC 20224, or through the 
internet, at Allan.M.Hopkins@irs.gov.

SUPPLEMENTARY INFORMATION:
    Title: Claim for Refund of Excise Taxes.
    OMB Number: 1545-1420.
    Form Number: 8849.
    Abstract: Sections 6402, 6404, sections 301.6402-2, 301.6404-1, and 
301.6404-3 of the regulations allow for refunds of taxes (except income 
taxes) or refund, abatement, or credit or interest, penalties, and 
additions to tax in the event of errors or certain actions by the IRS. 
Form 8849 is used by taxpayers to claim refunds of excise taxes.
    Current Actions: There are no changes being made to the form at 
this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations, 
individuals or households, and not-for-profit institutions, farms, and 
Federal, state, local or tribal governments.
    Estimated Number of Respondents: 125,292.
    Estimated Time Per Respondent: 14 hours, 56 minutes.
    Estimated Total Annual Burden Hours: 1,871,713.
    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

[[Page 4917]]

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: January 19, 2005.
Paul Finger,
IRS Reports Clearance Officer.
[FR Doc. 05-1739 Filed 1-28-05; 8:45 am]
BILLING CODE 4830-01-P