Proposed Collection; Comment Request for Notice 2005-64, 67215 [E5-6108]
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Federal Register / Vol. 70, No. 213 / Friday, November 4, 2005 / Notices
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 20, 2005.
Glenn P. Kirkland,
IRS Reports Clearance Officer.
[FR Doc. E5–6107 Filed 11–3–05; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment
Request for Notice 2005–64
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
2005–64, Foreign Tax Credit and Other
Guidance under Section 965.
DATES: Written comments should be
received on or before January 3, 2006 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: Foreign Tax Credit and Other
Guidance under Section 965.
VerDate Aug<31>2005
22:35 Nov 03, 2005
Jkt 208001
OMB Number: 1545–1957.
Form Number: Notice 2005–64.
Abstract: This document provides
guidance under new section 965
enacted by the American Jobs Creation
Act of 2004 (Pub. L. 108–357). In
general, and subject to limitations and
conditions, section 965(a) provides that
a corporation that is a U.S. shareholder
of a controlled foreign corporation (CFC)
may elect, for one taxable year, an 85
percent dividends received deduction
(DRD) with respect to certain cash
dividends it receives from its CFCs.
Section 965(f) provides that taxpayers
may elect the application of section 965
for either the taxpayer’s last taxable year
which begins before October 22, 2004,
or the taxpayer’s first taxable year which
begins during the one-year period
beginning on October 22, 2004.
Current Actions: There is no change
in the paperwork burden previously
approved by OMB. This form is being
submitted for renewal purposes only.
Type of Review: Extension of a
currently approved collection.
Affected Public: Businesses and other
for-profit organizations.
Estimated Number of Respondents:
25,000.
Estimated Time per Respondent: 10
hours.
Estimated Total Annual Burden
Hours: 250,000.
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
PO 00000
Frm 00081
Fmt 4703
Sfmt 4703
67215
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 20, 2005.
Glenn P. Kirkland,
IRS Reports Clearance Officer.
[FR Doc. E5–6108 Filed 11–3–05; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment
Request for Rev. Proc 2005–51
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 Rev.
Proc 2005–51, Revenue Procedures
regarding I.R.C. 6707A(e) and Disclosure
with the SEC.
DATES: Written comments should be
received on or before January 3, 2006 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:
Revenue Procedures regarding I.R.C.
6707A(e) and Disclosure with the SEC.
OMB Number: 1545–1956.
Form Number: Rev. Proc. 2005–51.
Abstract: This revenue procedure
provides guidance to persons who are
required to disclose payment of certain
penalties arising from participation in
reportable transactions on forms filed
with the Securities and Exchange
Commission.
Current Actions: There is no change
in the paperwork burden previously
E:\FR\FM\04NON1.SGM
04NON1
]]>Agencies
[Federal Register Volume 70, Number 213 (Friday, November 4, 2005)]
[Notices]
[Page 67215]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E5-6108]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment Request for Notice 2005-64
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 2005-64, Foreign Tax Credit and Other Guidance under Section
965.
DATES: Written comments should be received on or before January 3, 2006
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: Foreign Tax Credit and Other Guidance under Section 965.
OMB Number: 1545-1957.
Form Number: Notice 2005-64.
Abstract: This document provides guidance under new section 965
enacted by the American Jobs Creation Act of 2004 (Pub. L. 108-357). In
general, and subject to limitations and conditions, section 965(a)
provides that a corporation that is a U.S. shareholder of a controlled
foreign corporation (CFC) may elect, for one taxable year, an 85
percent dividends received deduction (DRD) with respect to certain cash
dividends it receives from its CFCs. Section 965(f) provides that
taxpayers may elect the application of section 965 for either the
taxpayer's last taxable year which begins before October 22, 2004, or
the taxpayer's first taxable year which begins during the one-year
period beginning on October 22, 2004.
Current Actions: There is no change in the paperwork burden
previously approved by OMB. This form is being submitted for renewal
purposes only.
Type of Review: Extension of a currently approved collection.
Affected Public: Businesses and other for-profit organizations.
Estimated Number of Respondents: 25,000.
Estimated Time per Respondent: 10 hours.
Estimated Total Annual Burden Hours: 250,000.
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 20, 2005.
Glenn P. Kirkland,
IRS Reports Clearance Officer.
[FR Doc. E5-6108 Filed 11-3-05; 8:45 am]
BILLING CODE 4830-01-P
