Proposed Collection; Comment Request for Regulation Project, 20964-20965 [E5-1888]

Download as PDF 20964 Federal Register / Vol. 70, No. 77 / Friday, April 22, 2005 / Notices comments concerning Form 1099–DIV, Dividends and Distributions. DATES: Written comments should be received on or before June 21, 2005 to be assured of consideration. ADDRESSES: Direct all written comments to Glenn Kirkland Internal Revenue Service, room 6512, 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 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). Approved: April 12, 2005. Glenn Kirkland, IRS Reports Clearance Officer. [FR Doc. E5–1887 Filed 4–21–05; 8:45 am] SUPPLEMENTARY INFORMATION: BILLING CODE 4830–01–P Title: Dividends and Distributions. OMB Number: 1545–0110. Form Number: 1099–DIV. Abstract: Form 1099–DIV is used by the IRS to insure that dividends are properly reported as required by Internal Revenue Code section 6042, that liquidation distributions are correctly reported as required by Code section 6043, and to determine whether payees are correctly reporting their income. 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. Estimated Number of Responses: 111,922,150. Estimated Time Per Response: 20 minutes. Estimated Total Annual Burden Hours: 38,156,519. 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 VerDate jul<14>2003 15:27 Apr 21, 2005 Jkt 205001 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. DEPARTMENT OF THE TREASURY Internal Revenue Service [REG–107069–97] 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 existing final regulation, REG–107069–97 (TD 8940), Purchase Price Allocations in Deemed and Actual Asset Acquisitions (§§ 1.338–2, 1.338–5, 1.338–10, 1/ 338(h)(10)-1, and 1.1060–1). DATES: Written comments should be received on or before June 21, 2005 to be assured of consideration. ADDRESSES: Direct all written comments to Glenn Kirkland, Internal Revenue Service, Room 6510, 1111 Constitution Avenue NW., Washington, DC 20224. 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: PO 00000 Frm 00110 Fmt 4703 Sfmt 4703 Title: Purchase Price Allocation in Deemed and Actual Asset Acquisition. OMB Number: 1545–1658. Regulation Project Number: REG– 107069–97. Abstract: Section 338 of the Internal Revenue Code provides rules under which a qualifying stock acquisition is treated as an asset acquisition (a ‘‘deemed asset acquisition’’) when an appropriate election is made. Section 1060 provides rules for the allocation of consideration when a trade or business is transferred. The collection of information is necessary to make the election, to calculate and collect the appropriate amount of tax liability when a qualifying stock acquisition is made, to determine the persons liable for such tax, and to determine the bases of assets acquired in the deemed asset acquisition. Current Actions: There are no change to this existing regulation. Type of Review: Extension of OMB approval. Affected Public: Business or other forprofit organizations, and farms. The regulation provides that a section 338 election is made by filing Form 8023. The burden for this requirement is reflected in the burden of Form 8023. The regulation also provides that both a seller and a purchaser must each file an asset acquisition statement on Form 8594. The burden for this requirement is reflected in the burden of Form 8594. The burden for the collection of information in § 1.338–2T(e)(4) is as follows: Estimated Number of Respondents/ Recordkeeper: 45. Estimated Average Annual Burden Per Respondent/Recordkeeper: 34 minutes. Estimated Total Annual Reporting/ Recordkeeping Hours: 25. 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. E:\FR\FM\22APN1.SGM 22APN1 Federal Register / Vol. 70, No. 77 / Friday, April 22, 2005 / Notices 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: April 12, 2005. Glenn Kirkland, IRS Reports Clearance Officer. [FR Doc. E5–1888 Filed 4–21–05; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service [REG–107184–00] 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 existing final regulation, REG–107184–00, Guidance Necessary to Facilitate Electronic Tax Administration. DATES: Written comments should be received on or before June 21, 2005, to be assured of consideration. ADDRESSES: Direct all written comments to Glenn Kirkland, Internal Revenue Service, room 6510, 1111 Constitution Avenue, NW., Washington, DC 20224. 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 VerDate jul<14>2003 15:27 Apr 21, 2005 Jkt 205001 through the Internet at Larnice.Mack@irs.gov. SUPPLEMENTARY INFORMATION: Title: Guidance Necessary To Facilitate Electronic Tax Administration. OMB Number: 1545–1783. Regulation Project Number: REG– 107184–00. Abstract: The regulations provide a regulatory statement of IRS authority to prescribe what return information or documentation must be filed with a return, statement or other document required to be made under any provision of the internal revenue laws or regulations. In addition, the regulations eliminate regulatory impediments to electronic filing of Form 1040. 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 and individuals or households. Estimated Number of Respondents: 1. Estimated Time per Respondent: 6 minutes. Estimated Total Annual Burden Hours: 1. 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 PO 00000 Frm 00111 Fmt 4703 Sfmt 4703 20965 or start-up costs and costs of operation, maintenance, and purchase of services to provide information. Approved: April 12, 2005. Glenn Kirkland, IRS Reports Clearance Officer. [FR Doc. E5–1889 Filed 4–21–05; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service [REG–106359–02] 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 existing final regulation, REG–106359–02, Compensatory Stock Options Under Section 482. DATES: Written comments should be received on or before June 21, 2005, to be assured of consideration. ADDRESSES: Direct all written comments to Glenn Kirkland, Internal Revenue Service, room 6510, 1111 Constitution Avenue, NW., Washington, DC 20224. 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: Compensatory Stock Options Under Section 482. OMB Number: 1545–1794. Regulation Project Number: REG– 106359–02. Abstract: The information will be used to determine whether the participants in a qualified cost sharing arrangement are sharing stock-based compensation costs attributable to the intangible development area in proportion to reasonably anticipated E:\FR\FM\22APN1.SGM 22APN1

Agencies

[Federal Register Volume 70, Number 77 (Friday, April 22, 2005)]
[Notices]
[Pages 20964-20965]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E5-1888]


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

DEPARTMENT OF THE TREASURY

Internal Revenue Service

[REG-107069-97]


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, Pub. L. 104-13(44 U.S.C. 
3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning 
existing final regulation, REG-107069-97 (TD 8940), Purchase Price 
Allocations in Deemed and Actual Asset Acquisitions (Sec. Sec.  1.338-
2, 1.338-5, 1.338-10, 1/338(h)(10)-1, and 1.1060-1).

DATES: Written comments should be received on or before June 21, 2005 
to be assured of consideration.

ADDRESSES: Direct all written comments to Glenn Kirkland, Internal 
Revenue Service, Room 6510, 1111 Constitution Avenue NW., Washington, 
DC 20224.

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: Purchase Price Allocation in Deemed and Actual Asset 
Acquisition.
    OMB Number: 1545-1658.
    Regulation Project Number: REG-107069-97.
    Abstract: Section 338 of the Internal Revenue Code provides rules 
under which a qualifying stock acquisition is treated as an asset 
acquisition (a ``deemed asset acquisition'') when an appropriate 
election is made. Section 1060 provides rules for the allocation of 
consideration when a trade or business is transferred. The collection 
of information is necessary to make the election, to calculate and 
collect the appropriate amount of tax liability when a qualifying stock 
acquisition is made, to determine the persons liable for such tax, and 
to determine the bases of assets acquired in the deemed asset 
acquisition.
    Current Actions: There are no change to this existing regulation.
    Type of Review: Extension of OMB approval.
    Affected Public: Business or other for-profit organizations, and 
farms.
    The regulation provides that a section 338 election is made by 
filing Form 8023. The burden for this requirement is reflected in the 
burden of Form 8023. The regulation also provides that both a seller 
and a purchaser must each file an asset acquisition statement on Form 
8594. The burden for this requirement is reflected in the burden of 
Form 8594.
    The burden for the collection of information in Sec.  1.338-
2T(e)(4) is as follows:
    Estimated Number of Respondents/Recordkeeper: 45.
    Estimated Average Annual Burden Per Respondent/Recordkeeper: 34 
minutes.
    Estimated Total Annual Reporting/Recordkeeping Hours: 25.
    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.

[[Page 20965]]

    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: April 12, 2005.
Glenn Kirkland,
IRS Reports Clearance Officer.
[FR Doc. E5-1888 Filed 4-21-05; 8:45 am]
BILLING CODE 4830-01-P

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