Proposed Collection; Comment Request for Form 1120, Schedule D, Schedule H, Schedule N, and Schedule PH, 44767-44768 [E6-12669]

Download as PDF Federal Register / Vol. 71, No. 151 / Monday, August 7, 2006 / Notices Estimated Time Per Respondent: 3 hours and 29 minutes. Estimated Total Annual Burden Hours: 764. Comments: Comments submitted in response to this notice will be summarized and/or included in the request for Office of Management and Budget 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. Dated: July 27, 2006. Michael Colarusso, Acting Assistant Commissioner, Regional Operations. [FR Doc. 06–6735 Filed 8–4–06; 8:45 am] BILLING CODE 4810–35–M DEPARTMENT OF THE TREASURY Internal Revenue Service [FI–88–86] Proposed Collection; Comment Request For Regulation Project Internal Revenue Service (IRS), Treasury. ACTION: Notice and request for comments. sroberts on PROD1PC70 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 an existing final regulation, FI–88–86 (TD 8458), Real Estate Mortgage Investment Conduits (§§ 1.860E–2(a)(5), 1.860E– 2(a)(7), and 1.860E–2(b)(2)). DATES: Written comments should be received on or before October 6, 2006 to be assured of consideration. VerDate Aug<31>2005 17:19 Aug 04, 2006 Jkt 208001 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 information collection 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. ADDRESSES: SUPPLEMENTARY INFORMATION: Title: Real Estate Mortgage Investment Conduits. OMB Number: 1545–1276. Regulation Project Number: FI–88–86. Abstract: Internal Revenue Code section 860E(e) imposes an excise tax on the transfer of a residual interest in a real estate mortgage investment conduit (REMIC) to a disqualified party. The amount of the tax is based on the present value of the remaining anticipated excess inclusions. This regulation requires the REMIC to furnish, on request of the party responsible for the tax, information sufficient to compute the present value of the anticipated excess inclusions. The regulation also provides that the tax will not be imposed if the record holder furnishes to the pass-thru or transferor an affidavit stating that the record holder is not a disqualified party. Current Actions: There is no change to this existing regulation. Type of Review: Extension of OMB approval. Affected Public: Business or other forprofit organizations. Estimated Number of Respondents: 1,600. Estimated Time Per Respondent: 20 minutes. Estimated Total Annual Burden Hours: 525. 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 PO 00000 Frm 00163 Fmt 4703 Sfmt 4703 44767 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: July 17, 2006. Glenn P. Kirkland, IRS Reports Clearance Officer. [FR Doc. E6–12668 Filed 8–4–06; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Form 1120, Schedule D, Schedule H, Schedule N, and Schedule PH 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 Form 1120, Schedule D, Schedule H, Section 280H and Schedule N. DATES: Written comments should be received on or before October 6, 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., E:\FR\FM\07AUN1.SGM 07AUN1 44768 Federal Register / Vol. 71, No. 151 / Monday, August 7, 2006 / Notices Washington, DC 20224, or at (202) 622– 3179, or through the internet at (Larnice.Mack@irs.gov). sroberts on PROD1PC70 with NOTICES SUPPLEMENTARY INFORMATION: Title: U.S. Corp. Income Tax Return, Schedule D, Capital Gains and Losses, Schedule H, Section 280H Limitations for a Personal Service Corporation (PSC), Schedule N, Foreign Operations of U.S. Corporations, and Schedule PH, U.S. Personal Holding. OMB Number: 1545–0123. Form Number: 1120, Schedule D, Schedule H, Schedule N and Schedule PH. Abstract: Form 1120 is used by corporations to compute their taxable income and tax liability. Schedule D (Form 1120) is used by corporations to report gains and losses from the sale of capital assets. Schedule PH (Form 1120) is used by personal holding companies to figure the personal holding company tax under section 541. Schedule H (Form 1120) is used by personal service corporations to determine if they have met the minimum distribution requirements of section 280H. Schedule N (1120) is used by corporations that have assets in or business operations in a foreign country or a U.S. possession. The IRS uses these forms to determine whether corporations have correctly computed their tax liability. Current Actions: There are 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 and farms. Estimated Number of Respondents: 4,807,967. Estimated Time Per Respondent: 77 hours, 9 minutes. Estimated Total Annual Burden Hours: 370,939,155. 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 VerDate Aug<31>2005 17:19 Aug 04, 2006 Jkt 208001 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: July 21, 2006. Glenn Kirkland, IRS Reports Clearance Officer. [FR Doc. E6–12669 Filed 8–4–06; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Notice 2006–46 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 2006–25, Announcement of Rules to be Included in Final Regulations under Section 897(d) and (e) of the Internal Revenue Code. DATES: Written comments should be received on or before October 6, 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 regulations 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). PO 00000 Frm 00164 Fmt 4703 Sfmt 4703 SUPPLEMENTARY INFORMATION: Title: Announcement of Rules to be Included in Final Regulations under Section 897(d) and (e) of the Internal Revenue Code. Notice Number: 1545–2017. Abstract: This notice announces that the IRS and Treasury Department will issue final regulations under section 897(d) and (e) of the Internal Revenue Code that will revise the rules under Temp. Treas. Reg. § 1.897–5T, Notice 89–85, and Temp. Treas. Reg. § 1.897– 6T to take into account statutory mergers and consolidations under foreign or possessions law which may now qualify for nonrecognition treatment under section 368(a)(1)(A). The specific collections of information are contained in Temp. Treas. Reg. §§ 1.897–5T(c)(4)(ii)(C) and 1.897– 6T(b)(1). These reporting requirements notify the IRS of the transfer and enable it to verify that the transferor qualifies for nonrecognition and that the transferee will be subject to U.S. tax on a subsequent disposition of the U.S. real property interest. Current Actions: There are no changes being made to the notice at this time. Type of Review: Extension of currently approved collection. Affected Public: Business or other-forprofit organizations. Estimated Number of Respondents: 500. Estimated Time per Respondent: 1 minute. Estimated Total Annual Reporting Burden Hours: 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 a nd 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 E:\FR\FM\07AUN1.SGM 07AUN1

Agencies

[Federal Register Volume 71, Number 151 (Monday, August 7, 2006)]
[Notices]
[Pages 44767-44768]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-12669]


-----------------------------------------------------------------------

DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Form 1120, Schedule D, 
Schedule H, Schedule N, and Schedule PH

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 
Form 1120, Schedule D, Schedule H, Section 280H and Schedule N.

DATES: Written comments should be received on or before October 6, 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.,

[[Page 44768]]

Washington, DC 20224, or at (202) 622-3179, or through the internet at 
(Larnice.Mack@irs.gov).

SUPPLEMENTARY INFORMATION:
    Title: U.S. Corp. Income Tax Return, Schedule D, Capital Gains and 
Losses, Schedule H, Section 280H Limitations for a Personal Service 
Corporation (PSC), Schedule N, Foreign Operations of U.S. Corporations, 
and Schedule PH, U.S. Personal Holding.
    OMB Number: 1545-0123.
    Form Number: 1120, Schedule D, Schedule H, Schedule N and Schedule 
PH.
    Abstract: Form 1120 is used by corporations to compute their 
taxable income and tax liability. Schedule D (Form 1120) is used by 
corporations to report gains and losses from the sale of capital 
assets. Schedule PH (Form 1120) is used by personal holding companies 
to figure the personal holding company tax under section 541. Schedule 
H (Form 1120) is used by personal service corporations to determine if 
they have met the minimum distribution requirements of section 280H. 
Schedule N (1120) is used by corporations that have assets in or 
business operations in a foreign country or a U.S. possession. The IRS 
uses these forms to determine whether corporations have correctly 
computed their tax liability.
    Current Actions: There are 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 and 
farms.
    Estimated Number of Respondents: 4,807,967.
    Estimated Time Per Respondent: 77 hours, 9 minutes.
    Estimated Total Annual Burden Hours: 370,939,155.
    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: July 21, 2006.
Glenn Kirkland,
IRS Reports Clearance Officer.
 [FR Doc. E6-12669 Filed 8-4-06; 8:45 am]
BILLING CODE 4830-01-P

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.