Proposed Collection; Comment Request for Regulation Project, 61509 [E5-5850]
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Federal Register / Vol. 70, No. 204 / Monday, October 24, 2005 / Notices
the Internet, at
(Allan.M.Hopkins@irs.gov).
SUPPLEMENTARY INFORMATION:
Title: FI–27–89, Real Estate Mortgage
Investment Conduits; Reporting
Requirements and Other Administrative
Matters, and FI–61–91, Allocation of
Allocable Investment Expense; Original
Issue Discount Reporting Requirements.
OMB Number: 1545–1018.
Regulation Project Number: FI–27–89
and FI–61–91.
Abstract: The regulations prescribe
the manner in which an entity elects to
be taxed as a real estate mortgage
investment conduit (REMIC) and the
filing requirements for REMICs and
certain brokers.
Current Actions: There is no change to
these existing regulations.
Type of Review: Extension of a
currently approved collection.
Affected Public: Business or other forprofit organizations.
Estimated Number of Respondents:
655.
Estimated Time Per Respondent: 1
hour, 30 minutes.
Estimated Total Annual Burden
Hours: 978.
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.
VerDate Aug<31>2005
15:19 Oct 21, 2005
Jkt 208001
Approved: October 11, 2005.
Glenn P. Kirkland,
IRS Reports Clearance Officer.
[FR Doc. E5–5849 Filed 10–21–05; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
[FI–165–84]
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,
FI–165–84, Below-Market Loans
(§§ 1.7872–11(g)(l) and 1.7872–11(g)(3)).
DATES: Written comments should be
received on or before December 23, 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 Allan Hopkins, at (202) 622–
6665, or at the Internal Revenue Service,
room 6516, 1111 Constitution Avenue
NW., Washington, DC 20224, or through
the Internet at Allan.M.Hopkins@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Below-Market Loans.
OMB Number: 1545–0913.
Regulation Project Number: FI–165–
84 (Notice of Proposed Rulemaking).
Abstract: Internal Revenue Code
section 7872 recharacterizes a belowmarket loan as a market rate loan and
an additional transfer by the lender to
the borrower equal to the amount of
imputed interest. The regulation
requires both the lender and the
borrower to attach a statement to their
respective income tax returns for years
in which they have imputed income or
claim imputed deductions under Code
section 7872.
Current Actions: There is no change to
this existing regulation.
PO 00000
Frm 00087
Fmt 4703
Sfmt 4703
61509
Type of Review: Extension of a
currently approved collection.
Affected Public: Individuals or
households, and business or other forprofit organizations.
Estimated Number of Respondents:
1,631,202.
Estimated Time per Respondent: 18
minutes.
Estimated Total Annual Burden
Hours: 481,722.
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: October 11, 2005.
Glenn P. Kirkland,
IRS Reports Clearance Officer.
[FR Doc. E5–5850 Filed 10–21–05; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF VETERANS
AFFAIRS
Disruption of Mail Service
October 18, 2005.
Department of Veterans Affairs.
Notice of exception to date of
AGENCY:
ACTION:
receipt.
SUMMARY: On August 29, 2005,
Hurricane Katrina came through the
E:\FR\FM\24OCN1.SGM
24OCN1
]]>Agencies
[Federal Register Volume 70, Number 204 (Monday, October 24, 2005)]
[Notices]
[Page 61509]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E5-5850]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
[FI-165-84]
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 notice of proposed rulemaking, FI-165-84, Below-Market Loans
(Sec. Sec. 1.7872-11(g)(l) and 1.7872-11(g)(3)).
DATES: Written comments should be received on or before December 23,
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 Allan Hopkins, at (202)
622-6665, or at the Internal Revenue Service, room 6516, 1111
Constitution Avenue NW., Washington, DC 20224, or through the Internet
at Allan.M.Hopkins@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Below-Market Loans.
OMB Number: 1545-0913.
Regulation Project Number: FI-165-84 (Notice of Proposed
Rulemaking).
Abstract: Internal Revenue Code section 7872 recharacterizes a
below-market loan as a market rate loan and an additional transfer by
the lender to the borrower equal to the amount of imputed interest. The
regulation requires both the lender and the borrower to attach a
statement to their respective income tax returns for years in which
they have imputed income or claim imputed deductions under Code section
7872.
Current Actions: There is no change to this existing regulation.
Type of Review: Extension of a currently approved collection.
Affected Public: Individuals or households, and business or other
for-profit organizations.
Estimated Number of Respondents: 1,631,202.
Estimated Time per Respondent: 18 minutes.
Estimated Total Annual Burden Hours: 481,722.
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: October 11, 2005.
Glenn P. Kirkland,
IRS Reports Clearance Officer.
[FR Doc. E5-5850 Filed 10-21-05; 8:45 am]
BILLING CODE 4830-01-P
