Proposed Collection; Comment Request for Notice 2005-32, 25650-25651 [E5-2398]

Download as PDF 25650 Federal Register / Vol. 70, No. 92 / Friday, May 13, 2005 / Notices 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 an existing final regulation, FI–28–96 (TD 8801), Arbitrage Restrictions on TaxExempt Bonds (§ 1.148–5). DATES: Written comments should be received on or before July 12, 2005 to be assured of consideration. ADDRESSES: Direct all written comments to Glenn 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 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: Arbitrage Restrictions on TaxExempt Bonds. OMB Number: 1545–1490. Regulation Project Number: FI–28–96. Abstract: This regulation provides guidance concerning the arbitrage restrictions applicable to tax-exempt bonds issued by state and local governments and contains rules regarding the use of proceeds of state and local bonds to acquire higher yielding investments. The regulation provides safe harbors for establishing the fair market value of all investments purchased for yield restricted defeasance escrows. Further, the regulation requires that issuers must retain certain records and information with the bond documents. The recordkeeping requirements are necessary for the IRS to determine that an issuer of tax-exempt bonds has not paid more than fair market value for nonpurpose investments under section 148 of the Internal Revenue Code. Current Actions: There is no change to this existing regulation. Type of Review: Extension of currently approved collection. Affected Public: State, local, or tribal governments, and not-for-profit institutions. Estimated Number of Respondents: 1,400. VerDate jul<14>2003 15:59 May 12, 2005 Jkt 205001 Estimated Time Per Respondent: 1 hour. Estimated Total Annual Burden Hours: 1,425. 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: May 4, 2005. Glenn Kirkland, IRS Reports Clearance Officer. [FR Doc. E5–2397 Filed 5–12–05; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Notice 2005–32 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 PO 00000 Frm 00130 Fmt 4703 Sfmt 4703 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 Notice 2005–32, Notification requirement for transfer of partnership interest in Electing Investment Partnership (EIP). DATES: Written comments should be received on or before July 12, 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: Notification requirement for transfer of partnership interest in Electing Investment Partnership (EIP). OMB Number: 1545–1939. Notice Number: Notice 2005–32. Abstract: The American Jobs Creation Act of 2004 amended §§ 734, 743, and 6031 of the Internal Revenue Code. The amendment necessitated the creation of new reporting requirements and procedures for the mandatory basis adjustment provisions of §§ 734 and 743, the procedures for making an electing investment partnership election under § 743(e), and the reporting requirements for electing investment partnerships and their partners. This notice provides interim procedures for partnerships and partners to comply with the mandatory basis adjustment provisions of sections 734 and 743. This notice also provides interim procedures for electing investment partnerships and their partners to comply with sections 743(e) and 6031(f). Current Actions: There are no changes being made to the notice at this time. Type of Review: Extension of a currently approved collection. Affected Public: Business or other forprofit organization, individuals, or households. Estimated Number of Respondents: 266,400. Estimated Time Per Respondent: 2 Hours, 4 minutes. Estimated Total Annual Burden Hours: 522,100. 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 E:\FR\FM\13MYN1.SGM 13MYN1 Federal Register / Vol. 70, No. 92 / Friday, May 13, 2005 / Notices 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: May 5, 2005. Glenn P. Kirkland, IRS Reports Clearance Officer. [FR Doc. E5–2398 Filed 5–12–05; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY United States Mint Request for Citizens Coinage Advisory Committee Membership Applications SUMMARY: Pursuant to United States Code, Title 31, section 5135 (b), the United States Mint is accepting applications for appointment to the Citizens Coinage Advisory Committee (CCAC) for a member specially qualified to serve by virtue of his or her education, training or experience in American History. The CCAC was established to: • Advise the Secretary of the Treasury on any theme or design proposals relating to circulating coinage, VerDate jul<14>2003 15:59 May 12, 2005 Jkt 205001 bullion coinage, Congressional Gold Medals, and national and other medals produced by the United States Mint. • Advise the Secretary of the Treasury with regard to the events, persons, or places that the CCAC recommends to be commemorated by the issuance of commemorative coins in each of the five calendar years succeeding the year in which a commemorative coin designation is made. • Make recommendations with respect to the mintage level for any commemorative coin recommended. Total membership consists of eleven voting members appointed by the Secretary of the Treasury: • One person specially qualified by virtue of his or her education, training or experience as nationally or internationally recognized curator in the United States of a numismatic collection; • One person specially qualified by virtue of his or her experience in the medallic arts or sculpture; • One person specially qualified by virtue of his or her education, training, or experience in American history; • One person specially qualified by virtue of his or her education, training, or experience in numismatics; • Three persons who can represent the interests of the general public in the coinage of the United States; and • Four persons appointed by the Secretary of the Treasury on the basis of the recommendations by the House and Senate leadership. Members are appointed for a term of four years. No individual may be appointed to the CCAC while serving as an officer or employee of the Federal Government. The CCAC is subject to the direction of the Secretary of the Treasury. Meetings of the CCAC are open to the public and are held approximately six to eight times per year. The United States Mint is responsible for providing the necessary support, technical services and advice to the CCAC. CCAC members are not paid for their time or services, but, consistent with Federal Travel Regulations, members are reimbursed for their travel and lodging expenses to attend meetings. Members are Special Government Employees and are subject to the Standards of Ethical PO 00000 Frm 00131 Fmt 4703 Sfmt 4703 25651 Conduct for Employees of the Executive Branch (5 CFR part 2653). The United States Mint will review all submissions and will forward its recommendations to the Secretary of the Treasury for appointment consideration. Candidates should include specific skills, abilities, talents, and credentials to support their applications. The United States Mint is also interested in candidates who have demonstrated leadership skills, who have received recognition by their peers in their field of interest, who have a record of participation in public service or activities, and who are willing to commit the time and effort to participate in the CCAC meetings and related activities. Application Deadline: May 27, 2005. Receipt of Applications: Any member of the public wishing to be considered for participation on the CCAC should submit a resume and cover letter describing qualifications for membership, by fax to (202) 756–6830, or by mail to the United States Mint, 801 9th Street, NW., Washington, DC 20220, Attn: Madelyn Simmons Marchessault. Submissions must be postmarked no later than May 27, 2005. Notice Concerning Delivery of FirstClass and Priority Mail: The delivery of first-class mail to the United States Mint has been delayed since mid-October 2001, and delays are expected to continue. Until normal mail service resumes, please consider using alternate delivery services when sending timesensitive material. Some or all of the first-class and priority mail we receive may be put through an irradiation process to protect against biological contamination. Support materials put through this process may suffer irreversible damage. We encourage you to consider using alternate delivery services. FOR FURTHER INFORMATION CONTACT: Madelyn Simmons Marchessault, United States Mint Liaison to the CCAC; 801 9th Street, NW., Washington, DC 20220; or call (202) 354–7200. Dated: May 9, 2005. Henrietta Holsman Fore, Director, United States Mint. [FR Doc. 05–9543 Filed 5–12–05; 8:45 am] BILLING CODE 4810–37–P E:\FR\FM\13MYN1.SGM 13MYN1

Agencies

[Federal Register Volume 70, Number 92 (Friday, May 13, 2005)]
[Notices]
[Pages 25650-25651]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E5-2398]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Notice 2005-32

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 
Notice 2005-32, Notification requirement for transfer of partnership 
interest in Electing Investment Partnership (EIP).

DATES: Written comments should be received on or before July 12, 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: Notification requirement for transfer of partnership 
interest in Electing Investment Partnership (EIP).
    OMB Number: 1545-1939.
    Notice Number: Notice 2005-32.
    Abstract: The American Jobs Creation Act of 2004 amended Sec. Sec.  
734, 743, and 6031 of the Internal Revenue Code. The amendment 
necessitated the creation of new reporting requirements and procedures 
for the mandatory basis adjustment provisions of Sec. Sec.  734 and 
743, the procedures for making an electing investment partnership 
election under Sec.  743(e), and the reporting requirements for 
electing investment partnerships and their partners. This notice 
provides interim procedures for partnerships and partners to comply 
with the mandatory basis adjustment provisions of sections 734 and 743. 
This notice also provides interim procedures for electing investment 
partnerships and their partners to comply with sections 743(e) and 
6031(f).
    Current Actions: There are no changes being made to the notice at 
this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organization, 
individuals, or households.
    Estimated Number of Respondents: 266,400.
    Estimated Time Per Respondent: 2 Hours, 4 minutes.
    Estimated Total Annual Burden Hours: 522,100.
    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

[[Page 25651]]

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: May 5, 2005.
Glenn P. Kirkland,
IRS Reports Clearance Officer.
[FR Doc. E5-2398 Filed 5-12-05; 8:45 am]
BILLING CODE 4830-01-P

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