Proposed Collection; Comment Request for Regulation Project, 58052-58053 [E6-16123]

Download as PDF 58052 Federal Register / Vol. 71, No. 190 / Monday, October 2, 2006 / Notices Type of Review: Extension of a currently approved collection. Affected Public: Individuals. The estimate of the reporting burden in § 1.6015–5 for filing a claim for relief from joint and several liability is reflected in the burden of Form 8857. 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: September 20, 2006. Allan Hopkins, IRS Reports Clearance Officer. [FR Doc. E6–16121 Filed 9–29–06; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service [REG–105946–00] rmajette on PROD1PC67 with NOTICES1 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 VerDate Aug<31>2005 15:07 Sep 29, 2006 Jkt 211001 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–105946– 00 (TD 8995), Mid-Contract Change in Taxpayer (§ 1.460–6). DATES: Written comments should be received on or before December 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 regulations should be directed to Allan Hopkins at Internal Revenue Service, room 6516, 1111 Constitution Avenue NW., Washington, DC 20224, or at (202) 622–6665, or through the Internet at Allan.M.Hopkins@irs.gov. SUPPLEMENTARY INFORMATION: Title: Mid-Contract Change in Taxpayer. OMB Number: 1545–1732. Regulation Project Number: REG– 105946–00. Abstract: The information is needed by taxpayers who assume the obligation to account for the income from longterm contracts as the result of certain nontaxable transactions. 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. Estimated Number of Respondents: 5,000. Estimated Time Per Respondent: 2 hours. Estimated Total Annual Burden Hours: 10,000. 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 PO 00000 Frm 00136 Fmt 4703 Sfmt 4703 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 18, 2006. Glenn Kirkland, IRS Reports Clearance Officer. [FR Doc. E6–16122 Filed 9–29–06; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service [IA–54–90] 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 final regulation, IA–54–90 (TD 8459), Settlement Funds (§§ 1.468B–1, 1.468B–2, 1.468B–3, and 1.468B–5). DATES: Written comments should be received on or before December 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 regulation should be directed to Allan Hopkins at (202) 622– E:\FR\FM\02OCN1.SGM 02OCN1 Federal Register / Vol. 71, No. 190 / Monday, October 2, 2006 / Notices 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. rmajette on PROD1PC67 with NOTICES1 SUPPLEMENTARY INFORMATION: Title: Settlement Funds. OMB Number: 1545–1299. Regulation Project Number: IA–54– 90. Abstract: This regulation prescribes reporting requirements for settlement funds, which are funds established or approved by a governmental authority to resolve or satisfy certain liabilities, such as those involving tort or breach of contract. The regulation relates to the tax treatment of transfers to these funds, the taxation of income earned by the funds, and the tax treatment of distributions made by the funds. Current Actions: There is no change to this existing regulation. Type of Review: Extension of a currently approved collection. Affected Public: Individuals, business or other for-profit organizations, not forprofit institutions, farms and Federal, State, local or tribal governments. Estimated Number of Respondents: 1,500. Estimated Time Per Respondent: 2 hours, 22 minutes. Estimated Total Annual Burden Hours: 3,542. 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 VerDate Aug<31>2005 15:07 Sep 29, 2006 Jkt 211001 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 18, 2006. Glenn Kirkland, IRS Reports Clearance Officer. [FR Doc. E6–16123 Filed 9–29–06; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service [REG–246249–96] 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 final regulation, REG–246249– 96 (TD 9010), Information Reporting Requirements for Certain Payments Made on Behalf of Another Person, Payments to Joint Payees, and Payments of Gross Proceeds From Sales Involving Investment Advisers (§§ 1.6041–1 and 1.6045–1). DATES: Written comments should be received on or before December 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 regulations should be directed to Allan Hopkins, at Internal Revenue Service, room 6516, 1111 Constitution Avenue NW., Washington, DC 20224, or at (202) 622–6665, or through the Internet at Allan.M.Hopkins@irs.gov. SUPPLEMENTARY INFORMATION: Title: Information Reporting Requirements for Certain Payments Made on Behalf of Another Person, Payments to Joint Payees, and Payments PO 00000 Frm 00137 Fmt 4703 Sfmt 4703 58053 of Gross Proceeds From Sales Involving Investment Advisers. OMB Number: 1545–1705. Regulation Project Number: REG– 246249–96. Abstract: This regulation under section 6041 clarifies who is the payee for information reporting purposes if a check or other instrument is made payable to joint payees, provides information reporting requirements for escrow agents and other persons making payments on behalf of another person, and clarifies that the amount to be reported as paid is the gross amount of the payment. The regulation also removes investment advisers from the list of exempt recipients for information reporting purposes under section 6045. 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. The estimate of the reporting burden in § 1.6041–1 is reflected in the burden of Form 1099-MISC. The estimate of the reporting burden in § 1.6045–1 is reflected in the burden of Form 1099– B. 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, E:\FR\FM\02OCN1.SGM 02OCN1

Agencies

[Federal Register Volume 71, Number 190 (Monday, October 2, 2006)]
[Notices]
[Pages 58052-58053]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-16123]


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

DEPARTMENT OF THE TREASURY

Internal Revenue Service

[IA-54-90]


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, IA-54-90 (TD 8459), Settlement 
Funds(Sec. Sec.  1.468B-1, 1.468B-2, 1.468B-3, and 1.468B-5).

DATES: Written comments should be received on or before December 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 regulation should be directed to Allan Hopkins at (202) 
622-

[[Page 58053]]

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: Settlement Funds.
    OMB Number: 1545-1299.
    Regulation Project Number: IA-54-90.
    Abstract: This regulation prescribes reporting requirements for 
settlement funds, which are funds established or approved by a 
governmental authority to resolve or satisfy certain liabilities, such 
as those involving tort or breach of contract. The regulation relates 
to the tax treatment of transfers to these funds, the taxation of 
income earned by the funds, and the tax treatment of distributions made 
by the funds.
    Current Actions: There is no change to this existing regulation.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals, business or other for-profit 
organizations, not for-profit institutions, farms and Federal, State, 
local or tribal governments.
    Estimated Number of Respondents: 1,500.
    Estimated Time Per Respondent: 2 hours, 22 minutes.
    Estimated Total Annual Burden Hours: 3,542.
    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: September 18, 2006.
Glenn Kirkland,
IRS Reports Clearance Officer.
 [FR Doc. E6-16123 Filed 9-29-06; 8:45 am]
BILLING CODE 4830-01-P
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.