Proposed Collection; Comment Request for Regulation Project, 68897 [E6-20083]
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Federal Register / Vol. 71, No. 228 / Tuesday, November 28, 2006 / Notices
DEPARTMENT OF THE TREASURY
Internal Revenue Service
[REG–115795–97]
Proposed Collection; Comment
Request for Regulation Project
Internal Revenue Service (IRS),
Treasury.
ACTION: Notice and request for
comments.
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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–115795–
97, (TD 8870), General Rules for Making
and Maintaining Qualified Electing
Fund Elections (§§ 1.1295–1 and 1.295–
3).
DATES: Written comments should be
received on or before January 29, 2007
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.
SUPPLEMENTARY INFORMATION:
Title: General Rules for Making and
Maintaining Qualified Electing Fund
Elections.
OMB Number: 1545–1555.
Regulation Project Number: REG–
115795–97.
Abstract: This regulation provides
guidance to passive foreign investment
company (PFIC) shareholder that makes
the election under Code section 1295 to
treat PFIC as a qualified electing fund
(QEF), and for PFIC shareholders that
wish to make a section 1295 election
that will apply on a retroactive basis.
Guidance is also provided on revoking
such elections.
Current Actions: There is no change to
this existing regulation.
Type of Review: Extension of
currently approved collection.
Affected Public: Individuals or
households, business or other for-profit
VerDate Aug<31>2005
15:42 Nov 27, 2006
Jkt 211001
organization, and not-to-profit
institutions.
Estimated Number of Respondents:
1,290.
Estimated Time Per Respondent: 29
minutes.
Estimated Total Annual Burden
Hours: 623.
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: November 13, 2006.
Glenn Kirkland,
IRS Reports Clearance Officer.
[FR Doc. E6–20083 Filed 11–27–06; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment
Request for Notice 97–64
Internal Revenue Service (IRS),
Treasury.
ACTION: Notice and request for
comments.
AGENCY:
SUMMARY: The Department of the
Treasury, as part of its continuing effort
PO 00000
Frm 00104
Fmt 4703
Sfmt 4703
68897
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
97–64, Temporary Regulations To Be
Issued Under Section 1(h) of the
Internal Revenue Code (Applying
Section 1(h) to Capital Gain Dividends
of RICs and REITs).
DATES: Written comments should be
received on or before January 29, 2007
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 notice 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: Temporary Regulations To Be
Issued Under Section 1(h) of the
Internal Revenue Code (Applying
Section 1(h) to Capital Gain Dividends
of RICs and REITs).
OMB Number: 1545–1565.
Notice Number: Notice 97–64.
Abstract: Notice 97–64 describes
temporary regulations that will permit
Regulated Investment Companies (RICs)
and Real Estate Investment Trusts
(REITs) to distribute multiple classes of
capital gain dividends.
Current Actions: There are no changes
being made to the notice at this time.
This submission is being made for
renewal purposes only.
Type of Review: Extension of a
currently approved collection.
Affected Public: Business or other forprofit organizations, and individuals.
The burden for the collection of
information in sections 9 and 10 of
Notice 97–64 is reflected in the burden
for Form 1099–DIV and Form 2439.
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
E:\FR\FM\28NON1.SGM
28NON1
]]>Agencies
[Federal Register Volume 71, Number 228 (Tuesday, November 28, 2006)]
[Notices]
[Page 68897]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-20083]
[[Page 68897]]
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
[REG-115795-97]
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-115795-97, (TD 8870), General Rules for
Making and Maintaining Qualified Electing Fund Elections (Sec. Sec.
1.1295-1 and 1.295-3).
DATES: Written comments should be received on or before January 29,
2007 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.
SUPPLEMENTARY INFORMATION:
Title: General Rules for Making and Maintaining Qualified Electing
Fund Elections.
OMB Number: 1545-1555.
Regulation Project Number: REG-115795-97.
Abstract: This regulation provides guidance to passive foreign
investment company (PFIC) shareholder that makes the election under
Code section 1295 to treat PFIC as a qualified electing fund (QEF), and
for PFIC shareholders that wish to make a section 1295 election that
will apply on a retroactive basis. Guidance is also provided on
revoking such elections.
Current Actions: There is no change to this existing regulation.
Type of Review: Extension of currently approved collection.
Affected Public: Individuals or households, business or other for-
profit organization, and not-to-profit institutions.
Estimated Number of Respondents: 1,290.
Estimated Time Per Respondent: 29 minutes.
Estimated Total Annual Burden Hours: 623.
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: November 13, 2006.
Glenn Kirkland,
IRS Reports Clearance Officer.
[FR Doc. E6-20083 Filed 11-27-06; 8:45 am]
BILLING CODE 4830-01-P
