Proposed Collection; Comment Request for Regulation Project, 61828-61829 [E6-17395]
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cprice-sewell on PROD1PC66 with NOTICES
61828
Federal Register / Vol. 71, No. 202 / Thursday, October 19, 2006 / Notices
Abstract: Section 1.195–1 of the
regulation provides that start-up
expenditures may, at the discretion of
the taxpayer, be amortized over a period
of not less than 60 months beginning
with the month the active trade or
business begins. Taxpayers may elect to
amortize start-up expenditures by filing
a statement with their tax return for the
taxable year in which the trade or
business begins.
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:
150,000.
Estimated Time Per Respondent: 15
minutes.
Estimated Total Annual Burden
Hours: 37,500.
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.
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 P. Kirkland,
IRS Reports Clearance Officer.
[FR Doc. 06–8758 Filed 10–18–06; 8:45 am]
BILLING CODE 4830–01–M
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14:50 Oct 18, 2006
Jkt 211001
DEPARTMENT OF THE TREASURY
Internal Revenue Service
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–120882–
97 (TD 8898), Continuity of Interest
(§§ 1.368–1(e)(1)(ii) and 1.368–
1(e)(2)(ii)).
Written comments should be
received on or before December 18, 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.
DATES:
SUPPLEMENTARY INFORMATION:
Title: Continuity of Interest.
OMB Number: 1545–1691.
Regulation Project Number: REG–
120882–97.
Abstract: Taxpayers who entered into
a binding agreement on or after January
28, 1998 (the effective date of § 1.368–
1T), and before the effective date of the
final regulations under § 1.368–1(e) may
request a private letter ruling permitting
them to apply § 1.368–1(e) to their
transaction. A private letter ruling will
not be issued unless the taxpayer
establishes to the satisfaction of the IRS,
that there is not a significant risk of
different parties to the transaction
taking inconsistent positions, for U.S.
tax purposes with respect to the
applicability of § 1.368–1(e) to the
transaction.
Current Actions: There is no change
in the paperwork burden previously
approved by OMB. This regulation is
PO 00000
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Fmt 4703
Sfmt 4703
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:
10.
Estimated Time Per Respondent: 150
hours.
Estimated Total Annual Burden
Hours: 1,500.
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.
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 26, 2006.
Glenn P. Kirkland,
IRS Reports Clearance Officer.
[FR Doc. E6–17393 Filed 10–18–06; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
[FI–59–91]
Proposed Collection; Comment
Request for Regulation Project
Internal Revenue Service (IRS),
Treasury.
AGENCY:
E:\FR\FM\19OCN1.SGM
19OCN1
Federal Register / Vol. 71, No. 202 / Thursday, October 19, 2006 / Notices
Notice and request for
comments.
cprice-sewell on PROD1PC66 with NOTICES
ACTION:
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–59–91 (TD
8674), Debt Instructions With Original
Issue Discount; Contingent Payment;
Anti-Abuse Rule (§§ 1.1275–2, 1.1275–
3, 1.1275–4, and 1.275–6).
DATES: Written comments should be
received on or before December 18, 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–
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: Desk Instruments With Original
Issue Discount; Contingent Payments;
Anti-Abuse Rule.
OMB Number: 1545–1450.
Regulation Project Number: FI–59–91.
Abstract: This regulation relates to the
tax treatment of debt instruments that
provide for one or more contingent
payments. The regulation also treats a
debt instrument and a related hedge as
an integrated transaction. The regulation
provides general rules, definitions, and
reporting and recordkeeping
requirements for contingent payment
debt instruments and for integrated debt
instruments.
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, individuals, and
state, local, or tribal governments.
Estimated Number of Respondents:
180,000.
Estimated Time Per Respondent: 30
minutes.
Estimated Total Annual Burden
Hours: 89,000.
The following paragraph applies to all
of the collections of information covered
by this notice:
VerDate Aug<31>2005
14:50 Oct 18, 2006
Jkt 211001
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 29, 2006.
Allan Hopkins,
IRS Reports Clearance Officer.
[FR Doc. E6–17395 Filed 10–18–06; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
[INTL–656–87]
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
PO 00000
Frm 00124
Fmt 4703
Sfmt 4703
61829
existing final regulation, INTL–656–87
(TD 8701), Treatment of Shareholders of
Certain Passive Foreign Investment
Companies (§§ 1.1291–9(d) and 1.1291–
10(d)).
DATES: Written comments should be
received on or before December 18, 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 R. Joseph Durbala, at (202)
622–3634, Internal Revenue Service,
room 6516, 1111 Constitution Avenue
NW., Washington, DC 20224, or through
the internet at RJoseph.Durbala@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Treatment of Shareholders of
Certain Passive Foreign Investment
Companies.
OMB Number: 1545–1507.
Regulation Project Number: INTL–
656–87.
Abstract: The reporting requirements
affect United States persons that are
direct and indirect shareholders of
passive foreign investment companies
(PFICSs). The requirements enable the
Internal Revenue Service to identify
PFICs, United States shareholders, and
transactions subject to PFIC taxation
and verify income inclusions, excess
distributions, and deferred tax amounts.
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, and
not-for-profit institutions.
Estimated Number of Respondents:
131,250.
Estimated Time Per Respondent: 46
minutes.
Estimated Total Annual Burden
Hours: 100,000.
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
E:\FR\FM\19OCN1.SGM
19OCN1
]]>Agencies
[Federal Register Volume 71, Number 202 (Thursday, October 19, 2006)]
[Notices]
[Pages 61828-61829]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-17395]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
[FI-59-91]
Proposed Collection; Comment Request for Regulation Project
AGENCY: Internal Revenue Service (IRS), Treasury.
[[Page 61829]]
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, FI-59-91 (TD 8674), Debt Instructions With
Original Issue Discount; Contingent Payment; Anti-Abuse Rule
(Sec. Sec. 1.1275-2, 1.1275-3, 1.1275-4, and 1.275-6).
DATES: Written comments should be received on or before December 18,
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)
622-6665, 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: Desk Instruments With Original Issue Discount; Contingent
Payments; Anti-Abuse Rule.
OMB Number: 1545-1450.
Regulation Project Number: FI-59-91.
Abstract: This regulation relates to the tax treatment of debt
instruments that provide for one or more contingent payments. The
regulation also treats a debt instrument and a related hedge as an
integrated transaction. The regulation provides general rules,
definitions, and reporting and recordkeeping requirements for
contingent payment debt instruments and for integrated debt
instruments.
Current Actions: There is no change to this existing regulation.
Type of Review: Extension of a currently approved collection.
Affected Public: Business or other for-profit organizations,
individuals, and state, local, or tribal governments.
Estimated Number of Respondents: 180,000.
Estimated Time Per Respondent: 30 minutes.
Estimated Total Annual Burden Hours: 89,000.
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: September 29, 2006.
Allan Hopkins,
IRS Reports Clearance Officer.
[FR Doc. E6-17395 Filed 10-18-06; 8:45 am]
BILLING CODE 4830-01-P
