Proposed Collection; Comment Request for Regulation Project, 11938-11939 [E7-4613]

Download as PDF 11938 Federal Register / Vol. 72, No. 49 / Wednesday, March 14, 2007 / Notices Affected Public: Individuals or households and Business or other forprofit organizations. Estimated Number of Respondents: 160. Estimated Time per Respondent: 3 hours, 25 minutes. Estimated Total Annual Burden Hours: 546. 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: March 1, 2007. Glenn P. Kirkland, IRS Reports Clearance Officer. [FR Doc. E7–4611 Filed 3–13–07; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service cprice-sewell on PROD1PC66 with NOTICES [PS–55–89] Proposed Collection; Comment Request for Regulation Project Internal Revenue Service (IRS), Treasury. ACTION: Notice and request for comments. AGENCY: VerDate Aug<31>2005 15:03 Mar 13, 2007 Jkt 211001 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, PS–55–89 (TD 8566), General Asset Accounts under the Accelerated Cost Recovery System (§ 1.168(i)–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 the regulations 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: General Asset Accounts under the Accelerated Cost Recovery System. OMB Number: 1545–1331. Regulation Project Number: PS–55– 89. Abstract: Section 168(i)(4) of the Internal Revenue Code authorizes the Secretary of the Treasury to provide rules under which a taxpayer may elect to account for property in one or more general asset accounts for depreciation purposes. The regulations describe the time and manner of making the election described in Code section 168(i)(4). Basic information regarding this election is necessary to monitor compliance with the rules of Code section 168. 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 Farms. Estimated Number of Respondents: 1,000. Estimated Time per Respondent: 15 minutes. Estimated Total Annual Burden Hours: 250. 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 PO 00000 Frm 00116 Fmt 4703 Sfmt 4703 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: March 6, 2007. Glenn P. Kirkland, IRS Reports Clearance Officer. [FR Doc. E7–4612 Filed 3–13–07; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service [INTL–952–86] 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 notice of proposed rulemaking E:\FR\FM\14MRN1.SGM 14MRN1 cprice-sewell on PROD1PC66 with NOTICES Federal Register / Vol. 72, No. 49 / Wednesday, March 14, 2007 / Notices and temporary regulation, INTL–952–86 (TD 8228), Allocation and Apportionment of Interest Expense and Certain Other Expenses (§§ 1.861–9T, and 1.861–12T). 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 regulations 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: Allocation and Apportionment of Interest Expense and Certain Other Expenses. OMB Number: 1545–1072. Regulation Project Number: INTL– 952–86. Abstract: Section 864(e) of the Internal Revenue Code provides rules concerning the allocation and apportionment of interest and certain other expenses to foreign source income for purposes of computing the foreign tax credit limitation. These regulations provide for the affirmative election of either the gross income method or the asset method of apportionment in the case of a controlled foreign corporation. Current Actions: There is no change to these existing regulations. Type of Review: Extension of a currently approved collection. Affected Public: Individuals or households, and Business or other forprofit organizations. Estimated Number of Respondents/ Recordkeepers: 15,000. Estimated Time per Respondent/ Recordkeeper: 15 minutes. Estimated Total Annual Reporting/ Recordkeeping Hours: 3,750. 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 VerDate Aug<31>2005 15:03 Mar 13, 2007 Jkt 211001 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. E7–4613 Filed 3–13–07; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service [Regulation Section 1.6001–1] 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, Pub. L. 104–13 (44 U.S.C. 3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning an existing final regulation, regulation section 1.6001–1, Records. 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 regulation section should be directed to Carolyn N. Brown at PO 00000 Frm 00117 Fmt 4703 Sfmt 4703 11939 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: Records (26 CFR 1.6001–1). OMB Number: 1545–1156. Regulation Project Number: Regulation section 1.6001–1. Abstract: Internal Revenue Code section 6001 requires, in part, that every person liable for tax, or for the collection of that tax, keep such records and comply with such rules and regulations as the Secretary (of the Treasury) may from time to time prescribe. It also allows the Secretary, in his or her judgment, to require any person to keep such records that are sufficient to show whether or not that person is liable for tax. Under regulation section 1.6001–1, in general, any person subject to tax, or any person required to file an information return, must keep permanent books of account or records, including inventories, that are sufficient to establish the amount of gross income, deductions, credits or other matters required to be shown by such person in any tax return or information return. Books and records are to be kept available for inspection by authorized internal revenue officers or employees and are to be retained so long as their contents any became material in the administration of any internal revenue law. Current Actions: There is no change to these existing regulations. Type of Review: Extension of a currently approved collection. Affected Public: Individuals or households, and Business or other forprofit organizations, Not-for-profit institutions, Farms, and Federal, State, Local or Tribal Governments. The recordkeeping burden in this regulation is already reflected in the burden of all tax forms. 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\14MRN1.SGM 14MRN1

Agencies

[Federal Register Volume 72, Number 49 (Wednesday, March 14, 2007)]
[Notices]
[Pages 11938-11939]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-4613]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

[INTL-952-86]


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 notice of proposed rulemaking

[[Page 11939]]

and temporary regulation, INTL-952-86 (TD 8228), Allocation and 
Apportionment of Interest Expense and Certain Other Expenses 
(Sec. Sec.  1.861-9T, and 1.861-12T).

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 regulations 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: Allocation and Apportionment of Interest Expense and Certain 
Other Expenses.
    OMB Number: 1545-1072.
    Regulation Project Number: INTL-952-86.
    Abstract: Section 864(e) of the Internal Revenue Code provides 
rules concerning the allocation and apportionment of interest and 
certain other expenses to foreign source income for purposes of 
computing the foreign tax credit limitation. These regulations provide 
for the affirmative election of either the gross income method or the 
asset method of apportionment in the case of a controlled foreign 
corporation.
    Current Actions: There is no change to these existing regulations.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals or households, and Business or other 
for-profit organizations.
    Estimated Number of Respondents/Recordkeepers: 15,000.
    Estimated Time per Respondent/Recordkeeper: 15 minutes.
    Estimated Total Annual Reporting/Recordkeeping Hours: 3,750.
    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: March 6, 2007.
Glenn P. Kirkland,
IRS Reports Clearance Officer.
 [FR Doc. E7-4613 Filed 3-13-07; 8:45 am]
BILLING CODE 4830-01-P
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