Proposed Collection; Comment Request for Regulation Project, 11936-11937 [E7-4605]
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cprice-sewell on PROD1PC66 with NOTICES
11936
Federal Register / Vol. 72, No. 49 / Wednesday, March 14, 2007 / Notices
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–209446–
82 (TD 8852), Passthrough of Items of an
S Corporation to its Shareholders
(§ 1.1366–1).
DATES: Written comments should be
received on or before May 14, 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 regulation should be directed
to Carolyn N. Brown at Internal Revenue
Service, room 6516, 1111 Constitution
Avenue, NW., Washington, DC 20224,
or at (202) 622–6688, or through the
Internet at Carolyn.N.Brown@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Passthrough of Items of an S
Corporation to its Shareholders.
OMB Number: 1545–1613.
Regulation Project Number: REG–
209446–82.
Abstract: Section 1366 requires
shareholders of an S corporation to take
into account their pro rata share of
separately stated items of the S
corporation and nonseparately
computed income or loss. Section
1.1366–1 of the regulation provides that
an S corporation must report, and a
shareholder is required to take into
account in the shareholder’s return, the
shareholder’s pro rata share, whether or
not distributed, of the S corporation’s
items of income, loss, deduction, or
credit.
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, and Individuals or
households.
This reporting requirement is
reflected in the burden of Form 1040,
U.S. Individual Income Tax Return, and
Form 1120S, U.S. Income Tax Return for
an S Corporation.
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
VerDate Aug<31>2005
15:03 Mar 13, 2007
Jkt 211001
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: March 6, 2007.
Glenn P. Kirkland,
IRS Reports Clearance Officer.
[FR Doc. E7–4603 Filed 3–13–07; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
[EE–12–78]
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, EE–12–78 (TD
7611) Nonbank Trustees (§ 1.408–2(e)).
PO 00000
Frm 00114
Fmt 4703
Sfmt 4703
Written comments should be
received on or before May 14, 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 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.
DATES:
SUPPLEMENTARY INFORMATION:
Title: Nonbank Trustees.
OMB Number: 1545–0806.
Regulation Project Number: EE–12–
78.
Abstract: Internal Revenue Code
section 408(a)(2) permits an institution
other than a bank to be the trustee of an
individual retirement account. This
regulation imposes certain reporting and
recordkeeping requirements to enable
the IRS to determine whether an
institution qualifies to be a nonbank
trustee and to insure that accounts are
administered according to sound
fiduciary principles.
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:
23.
Estimated Time per Respondent: 34
minutes.
Estimated Total Annual Burden
Hours: 13.
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
E:\FR\FM\14MRN1.SGM
14MRN1
Federal Register / Vol. 72, No. 49 / Wednesday, March 14, 2007 / Notices
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: March 5, 2007.
Glenn P. Kirkland,
IRS Reports Clearance Officer.
[FR Doc. E7–4605 Filed 3–13–07; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment
Request for Form 5330
Internal Revenue Service (IRS),
Treasury.
ACTION: Notice and request for
comments.
cprice-sewell on PROD1PC66 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 Form
5330, Return of Excise Taxes Related to
Employee Benefit Plans.
DATES: Written comments should be
received on or before May 14, 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 form and instructions
should be directed to Carolyn N. Brown
at Internal Revenue Service, room 6516,
1111 Constitution Avenue, NW.,
Washington, DC 20224, or at (202) 622–
6688, or through the Internet at
(Carolyn.N.Brown@irs.gov).
SUPPLEMENTARY INFORMATION:
Title: Return of Excise Taxes Related
to Employee Benefit Plans.
VerDate Aug<31>2005
15:03 Mar 13, 2007
Jkt 211001
OMB Number: 1545–0575.
Form Number: Form 5330.
Abstract: Internal Revenue Code
sections 4971, 4972, 4973(a), 4975,
4976, 4977, 4978, 4978A, 4978B, 4979,
4979A, and 4980 impose various excise
taxes in connection with employee
benefit plans. Form 5330 is used to
compute and collect these taxes. The
IRS uses the information on the form to
verify that the proper amount of tax has
been reported.
Current Actions: Major changes were
made to the form and instructions to
better serve the taxpayers. These
changes resulted in an increase in
burden hours.
Type of Review: Revision of a
currently approved collection.
Affected Pubic: Individuals and
business or other for-profit
organizations.
Estimated Number of Respondents:
8,403.
Estimated Time per Respondent: 56
hours, 55 minutes.
Estimated Total Annual Burden
Hours: 478,215.
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.
PO 00000
Frm 00115
Fmt 4703
Sfmt 4703
11937
Approved: March 2, 2007.
Glenn P. Kirkland,
IRS Reports Clearance Officer.
[FR Doc. E7–4610 Filed 3–13–07; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment
Request for Form 2032
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, Pub.
L. 104–13 (44 U.S.C. 3506(c)(2)(A)).
Currently, the IRS is soliciting
comments concerning Form 2032,
Contract Coverage Under Title II of the
Social Security Act.
DATES: Written comments should be
received on or before May 14, 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 form and instructions
should be directed to Carolyn N. Brown
at Internal Revenue Service, room 6516,
1111 Constitution Avenue, NW.,
Washington, DC 20224, or at (202) 622–
6688, or through the Internet at
(Carolyn.N.Brown@irs.gov).
SUPPLEMENTARY INFORMATION:
Title: Contract Coverage Under Title II
of the Social Security Act.
OMB Number: 1545–0137.
Form Number: 2032.
Abstract: Citizens and resident aliens
employed abroad by foreign affiliates of
American employers are exempt from
social security taxes. Under Internal
Revenue Code section 3121(1),
American employers may file an
agreement to waive this exemption and
obtain social security coverage for U.S.
citizens and resident aliens employed
abroad by their foreign affiliates. Form
2032 is used for this purpose.
Current Actions: There are no changes
being made to the form at this time.
Type of Review: Extension of a
currently approved collection.
E:\FR\FM\14MRN1.SGM
14MRN1
]]>Agencies
[Federal Register Volume 72, Number 49 (Wednesday, March 14, 2007)]
[Notices]
[Pages 11936-11937]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-4605]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
[EE-12-78]
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, EE-12-78 (TD 7611) Nonbank Trustees (Sec.
1.408-2(e)).
DATES: Written comments should be received on or before May 14, 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 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: Nonbank Trustees.
OMB Number: 1545-0806.
Regulation Project Number: EE-12-78.
Abstract: Internal Revenue Code section 408(a)(2) permits an
institution other than a bank to be the trustee of an individual
retirement account. This regulation imposes certain reporting and
recordkeeping requirements to enable the IRS to determine whether an
institution qualifies to be a nonbank trustee and to insure that
accounts are administered according to sound fiduciary principles.
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.
Estimated Number of Respondents: 23.
Estimated Time per Respondent: 34 minutes.
Estimated Total Annual Burden Hours: 13.
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
[[Page 11937]]
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: March 5, 2007.
Glenn P. Kirkland,
IRS Reports Clearance Officer.
[FR Doc. E7-4605 Filed 3-13-07; 8:45 am]
BILLING CODE 4830-01-P
