Proposed Collection; Comment Request for Regulation Project, 15382 [E5-1308]

Download as PDF 15382 Federal Register / Vol. 70, No. 57 / Friday, March 25, 2005 / Notices accounting for regulatory reporting purposes when there is at least a 95 percent change in ownership. This approach is generally consistent with accounting interpretations issued by the staff of the Securities and Exchange Commission. The OTS requires the use of push-down accounting when there is at least a 90 percent change in ownership. Dated: March 15, 2005. Julie L. Williams, Acting Comptroller of the Currency. By order of the Board of Governors of the Federal Reserve System, March 17, 2005. Jennifer J. Johnson, Secretary of the Board. Dated in Washington, DC, this 14th day of March, 2005. Federal Deposit Insurance Corporation. Robert E. Feldman, Executive Secretary. Dated: March 14, 2005. By the Office of Thrift Supervision. James Gilleran, Director. [FR Doc. 05–5931 Filed 3–24–05; 8:45 am] BILLING CODE 4810–33–P, 6210–01–P, 6714–01–P, 6720–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service [PS–4–96] 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, Public Law 104–13 (44 U.S.C. 3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning an existing final regulation, PS–4–89 (TD 8743), Sale of Residence From Qualified Personal Residence Trust (§ 25.2702–5). DATES: Written comments should be received on or before May 24, 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 VerDate jul<14>2003 16:11 Mar 24, 2005 Jkt 205001 copies of this regulation 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: Sale of Residence From Qualified Personal Residence Trust. OMB Number: 1545–1485. Regulation Project Number: PS–4–96. Abstract: Internal Revenue Code section 2702(a)(3) provides special favorable valuation rules for valuing the gift of a personal residence trust. Regulation section 25.2702–5(a)(2) provides that if the trust fails to comply with the requirements contained in the regulations, the trust will be treated as complying if a statement is attached to the gift tax return reporting the gift stating that a proceeding has been commenced to reform the instrument to comply with the requirements of the regulations. Current Actions: There is no change to this existing regulation. Type of Review: Extension of a currently approved collection. Affected Public: Individuals or households. Estimated Number of Respondents: 200. Estimated Time Per Respondent: 3 hours, 7 min. Estimated Total Annual Burden Hours: 625 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 PO 00000 Frm 00107 Fmt 4703 Sfmt 4703 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 23, 2005. Glenn P. Kirkland, IRS Reports Clearance Officer. [FR Doc. E5–1308 Filed 3–24–05; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service [REG–164754–01 (NPRM)] 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, Public Law 104–13 (44 U.S.C. 3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning an existing final regulation, REG–164754– 01 (NPRM), Split-Dollar Life Insurance Arrangements. DATES: Written comments should be received on or before May 24, 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 regulations 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: Split-Dollar Life Insurance Arrangements. OMB Number: 1545–1792. Regulation Project Number: REG– 164754–01 (NPRM). Abstract: The regulations relate to the income, employment, and gift taxation of split-dollar life insurance arrangements. The final regulations E:\FR\FM\25MRN1.SGM 25MRN1

Agencies

[Federal Register Volume 70, Number 57 (Friday, March 25, 2005)]
[Notices]
[Page 15382]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E5-1308]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

[PS-4-96]


Proposed Collection; Comment Request for Regulation Project

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 an 
existing final regulation, PS-4-89 (TD 8743), Sale of Residence From 
Qualified Personal Residence Trust (Sec.  25.2702-5).

DATES: Written comments should be received on or before May 24, 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 this regulation 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: Sale of Residence From Qualified Personal Residence Trust.
    OMB Number: 1545-1485.
    Regulation Project Number: PS-4-96.
    Abstract: Internal Revenue Code section 2702(a)(3) provides special 
favorable valuation rules for valuing the gift of a personal residence 
trust. Regulation section 25.2702-5(a)(2) provides that if the trust 
fails to comply with the requirements contained in the regulations, the 
trust will be treated as complying if a statement is attached to the 
gift tax return reporting the gift stating that a proceeding has been 
commenced to reform the instrument to comply with the requirements of 
the regulations.
    Current Actions: There is no change to this existing regulation.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals or households.
    Estimated Number of Respondents: 200.
    Estimated Time Per Respondent: 3 hours, 7 min.
    Estimated Total Annual Burden Hours: 625 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: March 23, 2005.
Glenn P. Kirkland,
IRS Reports Clearance Officer.
[FR Doc. E5-1308 Filed 3-24-05; 8:45 am]
BILLING CODE 4830-01-P
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