Proposed Collection; Comment Request for Regulation Project, 10759-10760 [E6-2913]

Download as PDF Federal Register / Vol. 71, No. 41 / Thursday, March 2, 2006 / Notices Approved: February 22, 2006. Glenn P. Kirkland, IRS Reports Clearance Officer. [FR Doc. E6–2911 Filed 3–1–06; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Form 4255 Internal Revenue Service (IRS), Treasury. ACTION: Notice and request for comments. wwhite on PROD1PC61 with NOTICES 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 Form 4255, Recapture of Investment Credit. DATES: Written comments should be received on or before May 1, 2006 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 form and instructions should be directed to Allan Hopkins, at (202) 622–6665, or at 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: Recapture of Investment Credit. OMB Number: 1545–0166. Form Number: 4255. Abstract: Internal Revenue Code section 50(a) requires that a taxpayer’s income tax be increased by the investment credit recapture tax if the taxpayer disposes of investment credit property before the close of the recapture period used in figuring the original investment credit. Form 4255 provides for the computation of the recapture tax. 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, individuals, and farms. VerDate Aug<31>2005 17:54 Mar 01, 2006 Jkt 208001 Estimated Number of Respondents: 13,200. Estimated Time Per Respondent: 9 hrs. 49 min. Estimated Total Annual Burden Hours: 129,492. 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: February 23, 2006. Glenn Kirkland, IRS Reports Clearance Officer. [FR Doc. E6–2912 Filed 3–1–06; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service [REG–131478–02] 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 PO 00000 Frm 00126 Fmt 4703 Sfmt 4703 10759 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, REG–131478– 02 (TD 9048), Guidance under Section 1502; Suspension of Losses on Certain Stock Disposition. DATES: Written comments should be received on or before May 1, 2006 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. Title: Guidance under Section 1502 Suspension of Losses on Certain Stock Disposition. OMB Number: 1545–1828. Regulation Project Number: REG– 131478–02. Abstract: The information in § 1.1502–35T(c) is necessary to ensure that a consolidated group does not obtain more than one tax benefit from both the utilization of a loss from the disposition of stock and the utilization of a loss or deduction with respect to another asset that reflects the same economic loss; to allow the taxpayer to make an election under § 1.1502– 35T(c)(5) that would benefit the taxpayer; the election in § 1.1502–35T(f) provides taxpayers the choice in the case of worthless subsidiary to utilize a worthless stock deduction or absorb the subsidiary’s losses; and § 1.1502– 35T(g)(3) applies to ensure that taxpayers do not circumvent the loss suspension rule of § 1.1502–35–T(c) by deconsolidating a subsidiary and then re-importing to the group losses of such subsidiary. 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 Respondents and/or Recordkeepers: 7,500. SUPPLEMENTARY INFORMATION: E:\FR\FM\02MRN1.SGM 02MRN1 10760 Federal Register / Vol. 71, No. 41 / Thursday, March 2, 2006 / Notices Estimated Average Annual Burden per Respondent and/or Recordkeeper: 2 hours. Estimated Total Reporting and/or Recordkeeping Burden Annual Burden Hours: 15,000. 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: February 21, 2006. Glenn Kirkland, IRS Reports Clearance Officer. [FR Doc. E6–2913 Filed 3–1–06; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Form 911 Internal Revenue Service (IRS), Treasury. ACTION: Notice and request for comments. wwhite on PROD1PC61 with NOTICES 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 VerDate Aug<31>2005 17:54 Mar 01, 2006 Jkt 208001 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 Form 911, Application for Taxpayer Assistance Order (ATAO). DATES: Written comments should be received on or before May 1, 2006, 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). SUPPLEMENTARY INFORMATION: Title: Application for Taxpayer Assistance Order (ATAO). OMB Number: 1545–1504. Form Number: 911. Abstract: This form is used by taxpayers to apply for relief from a significant hardship which may have already occurred or is about to occur if the IRS takes or fails to take certain actions. This form is submitted to the IRS Taxpayer Advocate Office in the district where the taxpayer lives. 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: Individuals or households, business or other for-profit organizations, not-for-profit institutions, farms and state, local or tribal governments. Estimated Number of Respondents: 93,000. Estimated Time Per Respondent: 30 minutes. Estimated Total Annual Burden Hours: 46,500. 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. PO 00000 Frm 00127 Fmt 4703 Sfmt 4703 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: February 22, 2006. Glenn Kirkland, IRS Reports Clearance Officer. [FR Doc. E6–2914 Filed 3–1–06; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Notice 2006–11 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 2006–11, Relief from Certain LowIncome Housing Requirements Due to Hurricane Rita. DATES: Written comments should be received on or before May 1, 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 E:\FR\FM\02MRN1.SGM 02MRN1

Agencies

[Federal Register Volume 71, Number 41 (Thursday, March 2, 2006)]
[Notices]
[Pages 10759-10760]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-2913]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

[REG-131478-02]


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 final regulation, REG-131478-02 (TD 9048), Guidance under 
Section 1502; Suspension of Losses on Certain Stock Disposition.

DATES: Written comments should be received on or before May 1, 2006 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.

SUPPLEMENTARY INFORMATION: Title: Guidance under Section 1502 
Suspension of Losses on Certain Stock Disposition.
    OMB Number: 1545-1828.
    Regulation Project Number: REG-131478-02.
    Abstract: The information in Sec.  1.1502-35T(c) is necessary to 
ensure that a consolidated group does not obtain more than one tax 
benefit from both the utilization of a loss from the disposition of 
stock and the utilization of a loss or deduction with respect to 
another asset that reflects the same economic loss; to allow the 
taxpayer to make an election under Sec.  1.1502-35T(c)(5) that would 
benefit the taxpayer; the election in Sec.  1.1502-35T(f) provides 
taxpayers the choice in the case of worthless subsidiary to utilize a 
worthless stock deduction or absorb the subsidiary's losses; and Sec.  
1.1502-35T(g)(3) applies to ensure that taxpayers do not circumvent the 
loss suspension rule of Sec.  1.1502-35-T(c) by deconsolidating a 
subsidiary and then re-importing to the group losses of such 
subsidiary.
    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 for-profit organizations.
    Estimated Number of Respondents and/or Recordkeepers: 7,500.

[[Page 10760]]

    Estimated Average Annual Burden per Respondent and/or Recordkeeper: 
2 hours.
    Estimated Total Reporting and/or Recordkeeping Burden Annual Burden 
Hours: 15,000.
    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: February 21, 2006.
Glenn Kirkland,
IRS Reports Clearance Officer.
 [FR Doc. E6-2913 Filed 3-1-06; 8:45 am]
BILLING CODE 4830-01-P

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