Proposed Collection; Comment Request for Revenue Procedure 99-17, 13232-13233 [E5-1189]

Download as PDF 13232 Federal Register / Vol. 70, No. 52 / Friday, March 18, 2005 / Notices DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Form 8842 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 Form 8842, Election To Use Different Annualization Periods for Corporate Estimated Tax. DATES: Written comments should be received on or before May 17, 2005 to be assured of consideration. ADDRESSES: Direct all written comments to Glenn P. Kirkland, Internal Revenue Service, room 6516, 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 R. Joseph Durbala, (202) 622–3634, Internal Revenue Service, room 6516, 1111 Constitution Avenue, NW., Washington, DC 20224, or through the Internet at RJoseph.Durbala@irs.gov. SUPPLEMENTARY INFORMATION: Title: Election To Use Different Annualization Periods for Corporate Estimated Tax. OMB Number: 1545–1409. Form Number: 8842. Abstract: Form 8842 is used by corporations, tax-exempt organizations subject to the unrelated business income tax, and private foundations to annually elect the use of an annualization period under Internal Revenue Code section 6655(e)(2)(C)(i) or (ii) for purposes of figuring the corporation’s estimated tax payments under the annualized income installment method. Current Actions: There are no changes being made to the Form 8842 at this time. Type of Review: Extension of a current OMB approval. Affected Public: Business, or other for-profit organizations. Estimated Number of Respondents: 1700. Estimated Time Per Respondent: 3 hrs., 33 min. VerDate jul<14>2003 16:14 Mar 17, 2005 Jkt 205001 Estimated Total Annual Burden Hours: 4335. 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: March 11, 2005. Glenn P. Kirkland, IRS Reports Clearance Officer. [FR Doc. E5–1187 Filed 3–17–05; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Revenue Procedure 99–17 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, PO 00000 Frm 00074 Fmt 4703 Sfmt 4703 Public Law 104–13 (44 U.S.C. 3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning Revenue Procedure 99–17, Mark to Market Election for Commodities Dealers and Securities and Commodities Traders. DATES: Written comments should be received on or before May 17, 2005 to be assured of consideration. ADDRESSES: Direct all written comments to Glenn P. Kirkland, Internal Revenue Service, Room 6516, 1111 Constitution Avenue, NW., Washington, DC 20224. FOR FURTHER INFORMATION CONTACT: Requests for additional information or copies of revenue procedure should be directed to R. Joseph Durbala, (202) 622–3634, Internal Revenue Service, Room 6516, 1111 Constitution Avenue NW., Washington, DC 20224, or through the Internet at RJoseph.Durbala@irs.gov. SUPPLEMENTARY INFORMATION: Title: Mark to Market Election for Commodities Dealers and Securities and Commodities Traders. OMB Number: 1545–1641. Revenue Procedure Number: Revenue Procedure 99–17. Abstract: This 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 sections 475(e) and (f) of the Internal Revenue Code. The collections of information in this revenue procedure are required by the IRS in order to facilitate monitoring taxpayers changing accounting methods resulting from making the elections under Code section 475(e) or (f). Current Actions: There are no changes being made to the revenue procedure at this time. Type of Review: Extension of a currently approved collection. Affected Public: Business or other forprofit organizations. The reporting burden for the collections of information in section 5.01–5.04 of this revenue procedure is as follows: Estimated Number of Respondents/ Recordkeepers: 1,000. Estimated Time Per Respondent/ Recordkeeper: 30 minutes. Estimated Total Annual Reporting/ Recordkeeping 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 E:\FR\FM\18MRN1.SGM 18MRN1 Federal Register / Vol. 70, No. 52 / Friday, March 18, 2005 / Notices of information must beretained 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: March 11, 2005. Glenn P. Kirkland, IRS Reports Clearance Officer. [FR Doc. E5–1189 Filed 3–17–05; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Form 8050 Internal Revenue Service (IRS), Treasury. AGENCY: Notice and request for comments. ACTION: 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, Public Law 104–13 (44 U.S.C. 3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning Form 8050, Direct Deposit of Corporate Tax Refund. Written comments should be received on or before May 17, 2005, to be assured of consideration. DATES: VerDate jul<14>2003 16:14 Mar 17, 2005 Jkt 205001 Direct all written comments to Glenn P. Kirkland, Internal Revenue Service, room 6516, 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 R. Joseph Durbala, (202) 622–3634, Internal Revenue Service, room 6516, 1111 Constitution Avenue, NW., Washington, DC 20224, or through the Internet at RJoseph.Durbala@irs.gov. ADDRESSES: SUPPLEMENTARY INFORMATION: Title: Direct Deposit of Corporate Tax Refund. OMB Number: 1545–1762. Form Number: 8050. Abstract: Form 8050 is used to request that the IRS deposit a tax refund of ($1 million or more) directly into an account at any U.S. bank or other financial institution (such as a mutual fund, credit union, or brokerage firm) that accepts direct deposits. 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, and individuals or households. Estimated Number of Respondents: 210,000. Estimated Time Per Respondent: 1 hour, 40 minutes. Estimated Total Annual Burden Hours: 348,600. 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 PO 00000 Frm 00075 Fmt 4703 Sfmt 4703 13233 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: March 11, 2005. Glenn P. Kirkland, IRS Reports Clearance Officer. [FR Doc. E5–1190 Filed 3–17–05; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Low Income Taxpayer Clinic Grant Program; Availability of 2005 Supplementary Grant Application Package Internal Revenue Service (IRS), Treasury. ACTION: Notice. AGENCY: SUMMARY: This document contains a notice that the IRS has made available a supplemental period within which organizations may apply for a Low Income Taxpayer Clinic (LITC) matching grant for the remainder of the 2005 grant cycle (the 2005 grant cycle runs January 1, 2005, through December 31, 2005). The supplemental application period shall run from March 15, 2005, to April 15, 2005. As a result of increased funding made available by enactment of the Consolidated Appropriations Act of 2005, Public Law 108–447, the IRS now has an additional $500,000 available to be awarded to qualifying organizations, subject to the limitations of Internal Revenue Code section 7526, for Low Income Taxpayer Clinic matching grants. Despite the IRS’s efforts to foster parity in availability and accessibility in the selection of organizations receiving LITC matching grants and the continued increase in clinic services nationwide, there remain communities that are underrepresented by clinics. For the supplemental application cycle, the IRS will focus on those geographic areas where there is limited or no clinic representation. The IRS will award up to $500,000 in additional funding to new qualifying organizations in the following underserved or underrepresented states or areas within a state: E:\FR\FM\18MRN1.SGM 18MRN1

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[Federal Register Volume 70, Number 52 (Friday, March 18, 2005)]
[Notices]
[Pages 13232-13233]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E5-1189]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Revenue Procedure 99-17

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

-----------------------------------------------------------------------

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, Public Law 104-13 (44 U.S.C. 
3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning 
Revenue Procedure 99-17, Mark to Market Election for Commodities 
Dealers and Securities and Commodities Traders.

DATES: Written comments should be received on or before May 17, 2005 to 
be assured of consideration.

ADDRESSES: Direct all written comments to Glenn P. Kirkland, Internal 
Revenue Service, Room 6516, 1111 Constitution Avenue, NW., Washington, 
DC 20224.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of revenue procedure should be directed to R. Joseph Durbala, 
(202) 622-3634, Internal Revenue Service, Room 6516, 1111 Constitution 
Avenue NW., Washington, DC 20224, or through the Internet at 
RJoseph.Durbala@irs.gov.

SUPPLEMENTARY INFORMATION:
    Title: Mark to Market Election for Commodities Dealers and 
Securities and Commodities Traders.
    OMB Number: 1545-1641.
    Revenue Procedure Number: Revenue Procedure 99-17.
    Abstract: This 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 sections 
475(e) and (f) of the Internal Revenue Code. The collections of 
information in this revenue procedure are required by the IRS in order 
to facilitate monitoring taxpayers changing accounting methods 
resulting from making the elections under Code section 475(e) or (f).
    Current Actions: There are no changes being made to the revenue 
procedure at this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations.
    The reporting burden for the collections of information in section 
5.01-5.04 of this revenue procedure is as follows:
    Estimated Number of Respondents/Recordkeepers: 1,000.
    Estimated Time Per Respondent/Recordkeeper: 30 minutes.
    Estimated Total Annual Reporting/Recordkeeping 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

[[Page 13233]]

of information must beretained 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: March 11, 2005.
Glenn P. Kirkland,
IRS Reports Clearance Officer.
[FR Doc. E5-1189 Filed 3-17-05; 8:45 am]
BILLING CODE 4830-01-P

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