Proposed Collection; Comment Request for Notice 99-43, 53832-53833 [E5-4952]
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53832
Federal Register / Vol. 70, No. 175 / Monday, September 12, 2005 / Notices
Preparers Who Understate Taxpayer’s
Liability on a Federal Income Tax
Return or a Claim for Refund
(§§ 1.6694–2(c) and 1.6694–3(e)).
DATES: Written comments should be
received on or before November 14,
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 6407, 1111 Constitution Avenue,
NW., Washington, DC 20224, or through
the Internet at RJoseph.Durbala@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Penalty on Income Tax Return
Preparers Who Understate Taxpayer’s
Liability on a Federal Income Tax
Return or Claim for Refund.
OMB Number: 1545–1231.
Regulation Project Number: IA–38–90
(Final).
Abstract: These regulations set forth
rules under section 6694 of the Internal
Revenue Code regarding the penalty for
understatement of a taxpayer’s liability
on a Federal income tax return or claim
for refund. In certain circumstances, the
preparer may avoid the penalty by
disclosing on a Form 8275 or by
advising the taxpayer or another
preparer that disclosure is necessary.
Current Actions: There is no change to
this existing regulation.
Type of Review: Extension of a
currently approved collection.
Affected Public: Business or other forprofit organizations, and individuals or
households.
Estimated Number of Respondents:
100,000.
Estimated Time Per Respondent: 30
min.
Estimated Total Annual Burden
Hours: 50,000 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
VerDate Aug<18>2005
15:25 Sep 09, 2005
Jkt 205001
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: September 2, 2005.
Glenn Kirkland,
IRS Reports Clearance Officer.
[FR Doc. E5–4951 Filed 9–9–05; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment
Request for Notice 99–43
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 Notice
99–43, Nonrecognition Exchanges under
Section 897.
DATES: Written comments should be
received on or before November 14,
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
PO 00000
Frm 00060
Fmt 4703
Sfmt 4703
NW., Washington, DC 20224, or through
the Internet at RJoseph.Durbala@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Nonrecognition Exchanges
under Section 897.
OMB Number: 1545–1660.
Notice Number: Notice 99–43.
Abstract: Notice 99–43 announces
modification of the current rules under
Temporary Regulation section 1.897–
6T(a)(1) regarding transfers, exchanges
and other dispositions of U.S. real
property interests in nonrecognition
transactions occurring after June 18,
1980. The notice provides that, contrary
to section 1.897–6T(a)(1), a foreign
taxpayer will not recognize a gain under
Code 897(e) for an exchange described
in Code section 368(a)(1)(E) or (F),
provided the taxpayer receives
substantially identical shares of the
same domestic corporation with the
same divided rights, voting power,
liquidation preferences, and
convertability as the shares exchanged
without any additional rights or
features.
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 organizations, and individuals or
households.
Estimated Number of Respondents:
100.
Estimated Time Per Respondent: 2
hours.
Estimated Total Annual Burden
Hours: 200.
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.
E:\FR\FM\12SEN1.SGM
12SEN1
Federal Register / Vol. 70, No. 175 / Monday, September 12, 2005 / Notices
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: September 6, 2005.
Glenn Kirkland,
IRS Reports Clearance Officer.
[FR Doc. E5–4952 Filed 9–9–05; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
[REG–209040–88]
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 notice of proposed rulemaking,
REG–209040–88, Qualified Electing
Fund Elections (§ 1.1295).
DATES: Written comments should be
received on or before November 14,
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 Aug<18>2005
17:17 Sep 09, 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: Qualified Electing Fund
Elections.
OMB Number: 1545–1514.
Regulation Project Number: REG–
209040–88.
Abstract: This regulation permits
certain shareholders to make a special
election under Internal Revenue Code
section 1295 with respect to certain
preferred shares of a passive foreign
investment company. This special
election operates in lieu of the regular
section 1295 election and requires less
annual reporting. Electing preferred
shareholders must account for dividend
income under the special rules of the
regulation, rather than under the general
income inclusion rules of section 1293.
Current Actions: There is no change to
this existing regulation.
Type of Review: Extension of a
currently approved collection.
Affected Public: Business or other forprofit organizations, not-for-profit
organizations, and individuals.
Estimated Number of Respondents:
1,030.
Estimated Time Per Respondent:
Varies.
Estimated Total Annual Burden
Hours: 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
quality, utility, and clarity of the
PO 00000
Frm 00061
Fmt 4703
Sfmt 4703
53833
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: September 2, 2005.
Glenn P. Kirkland,
IRS Reports Clearance Officer.
[FR Doc. E5–4953 Filed 9–9–05; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment
Request for REG–110311–98 (Final)
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 REG–
110311–98 (Final), Corporate Tax
Shelter Registration.
DATES: Written comments should be
received on or before November 14,
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, at Internal Revenue
Service, room 6516, 1111 Constitution
Avenue, NW., Washington, DC 20224,
or through the Internet at
RJoseph.Durbala@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Corporate Tax Shelter
Registration.
OMB Number: 1545–1687.
Form Number: REG–110311–98
(Final).
Abstract: The regulations finalize the
rules relating to the filing of certain
E:\FR\FM\12SEN1.SGM
12SEN1
]]>Agencies
[Federal Register Volume 70, Number 175 (Monday, September 12, 2005)]
[Notices]
[Pages 53832-53833]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E5-4952]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment Request for Notice 99-43
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 99-43, Nonrecognition Exchanges under Section 897.
DATES: Written comments should be received on or before November 14,
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: Nonrecognition Exchanges under Section 897.
OMB Number: 1545-1660.
Notice Number: Notice 99-43.
Abstract: Notice 99-43 announces modification of the current rules
under Temporary Regulation section 1.897-6T(a)(1) regarding transfers,
exchanges and other dispositions of U.S. real property interests in
nonrecognition transactions occurring after June 18, 1980. The notice
provides that, contrary to section 1.897-6T(a)(1), a foreign taxpayer
will not recognize a gain under Code 897(e) for an exchange described
in Code section 368(a)(1)(E) or (F), provided the taxpayer receives
substantially identical shares of the same domestic corporation with
the same divided rights, voting power, liquidation preferences, and
convertability as the shares exchanged without any additional rights or
features.
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 organizations, and
individuals or households.
Estimated Number of Respondents: 100.
Estimated Time Per Respondent: 2 hours.
Estimated Total Annual Burden Hours: 200.
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.
[[Page 53833]]
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: September 6, 2005.
Glenn Kirkland,
IRS Reports Clearance Officer.
[FR Doc. E5-4952 Filed 9-9-05; 8:45 am]
BILLING CODE 4830-01-P
