Proposed Collection; Comment Request for Regulation Project, 8061-8062 [E7-2927]
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Federal Register / Vol. 72, No. 35 / Thursday, February 22, 2007 / Notices
rwilkins on PROD1PC63 with NOTICES
income. The record-keeping and
election procedures allow the U.S.
shareholders and the IRS to know the
amount of the controlled foreign
corporation’s subpart F income.
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/
Recordkeepers: 50,500.
Estimated Time per Respondent/
Recordkeeper: 1 hour.
Estimated Total Annual Reporting/
Recordkeeping Hours: 50,417.
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 9, 2007.
Glenn P. Kirkland,
IRS Reports Clearance Officer.
[FR Doc. E7–2925 Filed 2–21–07; 8:45 am]
BILLING CODE 4830–01–P
VerDate Aug<31>2005
14:11 Feb 21, 2007
Jkt 211001
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment
Request for Revenue Procedure 98–20
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
Revenue Procedure 98–20, Certification
for No Information Reporting on the
Sale of a Principal Residence.
DATES: Written comments should be
received on or before April 23, 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 the revenue procedure should
be directed to R. Joseph Durbala at
Internal Revenue Service, Room 6516,
1111 Constitution Avenue, NW.,
Washington, DC 20224, or at (202) 622–
3634, or through the internet at
RJoseph.Durbala@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Certification for No Information
Reporting on the Sale of a Principal
Residence.
OMB Number: 1545–1592.
Revenue Procedure Number: Revenue
Procedure 98–20.
Abstract: This revenue procedure sets
forth the acceptable form of the written
assurances (certification) that a real
estate reporting person must obtain from
the seller of a principal residence to
except such sale or exchange from the
information reporting requirements for
real estate transactions under section
6045(e)(5) of the Internal Revenue Code.
Current Actions: There are no changes
being made to the revenue procedure at
this time.
Type of Review: Extension of a
currently approved collection.
Affected Public: Individuals or
households, and business or other forprofit organizations.
Estimated Number of Respondents:
2,300,000.
PO 00000
Frm 00111
Fmt 4703
Sfmt 4703
8061
Estimated Time Per Respondent: 10
minutes.
Estimated Total Annual Burden
Hours for Respondents: 383,000.
Estimated Number of Recordkeepers:
90,000.
Estimated Time Per Recordkeeper: 25
minutes.
Estimated Total Annual Burden
Hours for Recordkeepers: 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: February 12, 2007.
Glenn P. Kirkland,
IRS Reports Clearance Officer.
[FR Doc. E7–2926 Filed 2–21–07; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
[TD 6629, LR–7]
Proposed Collection; Comment
Request for Regulation Project
Internal Revenue Service (IRS),
Treasury.
ACTION: Notice and request for
comments.
AGENCY:
E:\FR\FM\22FEN1.SGM
22FEN1
rwilkins on PROD1PC63 with NOTICES
8062
Federal Register / Vol. 72, No. 35 / Thursday, February 22, 2007 / Notices
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, LR–7 (TD
6629). Limitation on Reduction in
Income Tax Liability Incurred to the
Virgin Islands (§ 1.934–1).
DATES: Written comments should be
received on or before April 23, 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:
Limitation on Reduction in Income Tax
Liability Incurred to the Virgin Islands.
OMB Number: 1545–0782.
Regulation Project Number: TD 6629.
Abstract: Internal Revenue Code
section 934(a) (1954 code) provides that
the tax liability incurred to the Virgin
Islands shall not be reduced except to
the extent provided in Code section
934(b) and (c). Taxpayers applying for
tax rebates or subsidies under section
934 of the 1954 Code must provide
certain information in order to obtain
these benefits.
Current Actions: There is no change to
this existing regulation.
Type of Review: Extension of
currently approved collection.
Affected Public: Individuals or
households and business or other forprofit organizations.
Estimated Number of Respondents:
500.
Estimated Time Per Respondent: 22
minutes.
Estimated Total Annual Burden
Hours: 184.
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.
VerDate Aug<31>2005
14:11 Feb 21, 2007
Jkt 211001
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 8, 2007.
Glenn Kirkland,
IRS Reports Clearance Officer.
[FR Doc. E7–2927 Filed 2–21–07; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment
Request for Notice 89–61
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
89–61, Imported Substances; Rules for
Filing a Petition.
DATES: Written comments should be
received on or before April 23, 2007 to
be assured of consideration.
ADDRESSES: Direct all written comments
to Glenn P. Kirkland, Internal Revenue
PO 00000
Frm 00112
Fmt 4703
Sfmt 4703
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 Carolyn N. Brown,
at (202) 622–6688, or at Internal
Revenue Service, Room 6516, 1111
Constitution Avenue, NW., Washington,
DC 20224, or through the internet, at
Carolyn.N.Brown@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Imported Substances; Rules for
Filing a Petition.
OMB Number: 1545–1117.
Notice Number: Notice 89–61.
Abstract: Section 4671 of the Internal
Revenue Code imposes a tax on the sale
or use of certain imported taxable
substances by the importer. Code
section 4672 provides an initial list of
taxable substances and provides that
importers and exporters may petition
the Secretary of the Treasury to modify
the list. Notice 89–61 sets forth the
procedures to be followed in petitioning
the Secretary.
Current Actions: There are no changes
being made to the notice at this time.
Type of Review: Extension of a
currently approved collection.
Affected Public: Business or other forprofit organizations.
Estimated Number of Respondents:
100.
Estimated Time Per Respondent: 1
hour.
Estimated Total Annual Burden
Hours: 100.
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
E:\FR\FM\22FEN1.SGM
22FEN1
]]>Agencies
[Federal Register Volume 72, Number 35 (Thursday, February 22, 2007)]
[Notices]
[Pages 8061-8062]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-2927]
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
[TD 6629, LR-7]
Proposed Collection; Comment Request for Regulation Project
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Notice and request for comments.
-----------------------------------------------------------------------
[[Page 8062]]
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, LR-7 (TD 6629). Limitation on Reduction in
Income Tax Liability Incurred to the Virgin Islands (Sec. 1.934-1).
DATES: Written comments should be received on or before April 23, 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: Limitation on Reduction in Income Tax
Liability Incurred to the Virgin Islands.
OMB Number: 1545-0782.
Regulation Project Number: TD 6629.
Abstract: Internal Revenue Code section 934(a) (1954 code) provides
that the tax liability incurred to the Virgin Islands shall not be
reduced except to the extent provided in Code section 934(b) and (c).
Taxpayers applying for tax rebates or subsidies under section 934 of
the 1954 Code must provide certain information in order to obtain these
benefits.
Current Actions: There is no change to this existing regulation.
Type of Review: Extension of currently approved collection.
Affected Public: Individuals or households and business or other
for-profit organizations.
Estimated Number of Respondents: 500.
Estimated Time Per Respondent: 22 minutes.
Estimated Total Annual Burden Hours: 184.
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 8, 2007.
Glenn Kirkland,
IRS Reports Clearance Officer.
[FR Doc. E7-2927 Filed 2-21-07; 8:45 am]
BILLING CODE 4830-01-P
