Proposed Collection; Comment Request for Regulation Project, 26682-26683 [E7-8915]

Download as PDF 26682 Federal Register / Vol. 72, No. 90 / Thursday, May 10, 2007 / Notices DC, between 9 a.m. and 5 p.m., Monday through Friday, except Federal holidays. Communications received within 45 days of the date of this notice will be considered by FRA before final action is taken. Comments received after that date will be considered as far as practicable. All written communications concerning these proceedings are available for examination during regular business hours (9 a.m.–5 p.m.) at the above facility. All documents in the public docket are also available for inspection and copying on the Internet at the docket facility’s Web site at https://dms.dot.gov. FRA wishes to inform all potential commenters that anyone is able to search the electronic form of all comments received into any of our dockets by the name of the individual submitting the comment (or signing the comment, if submitted on behalf of an association, business, labor union, etc.). You may review DOT’s complete Privacy Act Statement in the Federal Register published on April 11, 2000 (Volume 65, Number 70; Pages 19477– 78) or you may visit https://dms.dot.gov. FRA expects to be able to determine these matters without an oral hearing. However, if a specific request for an oral hearing is accompanied by a showing that the party is unable to adequately present his or her position in a written statement, an application may be set for public hearing. Issued in Washington, DC, on May 2, 2007. Grady C. Cothen, Jr., Deputy Associate Administrator for Safety Standards and Program Development. [FR Doc. E7–9029 Filed 5–9–07; 8:45 am] BILLING CODE 4910–06–P DEPARTMENT OF THE TREASURY Submission for OMB Review; Comment Request pwalker on PROD1PC71 with NOTICES May 4, 2007. The Department of the Treasury has submitted the following public information collection requirement(s) to OMB for review and clearance under the Paperwork Reduction Act of 1995, Public Law 104–13. Copies of the submission(s) may be obtained by calling the Treasury Bureau Clearance Officer listed. Comments regarding this information collection should be addressed to the OMB reviewer listed and to the Treasury Department Clearance Officer, Department of the Treasury, Room 11000, 1750 Pennsylvania Avenue, NW., Washington, DC 20220. VerDate Aug<31>2005 15:04 May 09, 2007 Jkt 211001 Written comments should be received on or before June 11, 2007 to be assured of consideration. DATES: Internal Revenue Service (IRS) OMB Number: 1545–1836. Type of Review: Extension. Title: Support Schedule for Advance Ruling Period. Form: 8734. Description: Form 8734 is used by charities to furnish financial information that Exempt Organization Determinations of IRS can use to classify a charity as a public charity. Respondents: Non-profit institutions. Estimated Total Burden Hours: 549,120 hours. OMB Number: 1545–1877. Type of Review: Extension. Title: Revenue Procedure 2004–18, Average Area Purchase Price Safe Harbors and Nationwide Purchase Prices under section 143. Description: Revenue Procedure 2004–18 provides issuers of qualified mortgage bonds, as defined in section 143(a) of the Internal Revenue Code, and issuers of mortgage credit certificates, as defined in section 25(c), with (1) nationwide average purchase prices for residences located in the Untied States, and (2) average area purchase price safe harbors for residences located in statistical areas in each state, the District of Columbia, Puerto Rico, the Northern Mariana Islands, American Samoa, the Virgin Islands, and Guam. Respondents: State, local, and tribal governments. Estimated Total Burden Hours: 15 hours. OMB Number: 1545–2049. Type of Review: Extension. Title: Notice 2006–107— Diversification Requirements for Qualified Defined Contribution Plans Holding Publicly Traded Employer Securities. Description: This notice contains two model forms that may be used by employers to notify plan participants of their diversification rights under sections 901 and 507 of the Pension Protection Act of 2006. Respondents: Businesses or other forprofit institutions. Estimated Total Burden Hours: 7,725 hours. OMB Number: 1545–2041. Type of Review: Extension. Title: Expenses Paid by Certain Whaling Captains in Support of Native Alaskan Subsistence Whaling. Description: This document provides guidelines under section 170(n) for substantiating certain expenses of PO 00000 Frm 00095 Fmt 4703 Sfmt 4703 carrying out sanctioned whaling activities. Respondents: Individuals and households. Estimated Total Burden Hours: 48 hours. OMB Number: 1545–0134. Type of Review: Revision. Title: Application to Adopt, Change, or Retain a Tax Year. Form: 1128. Description: Form 1128 is needed in order to process taxpayers’ request to change their tax year. All information requested is used to determine whether the application should be approved. Respondents are taxable and nontaxable entities including individuals, partnerships, corporations, estates, taxexempt organizations and cooperatives. Respondents: Businesses and other for-profit institutions. Estimated Total Burden Hours: 232,066 hours. OMB Number: 1545–1599. Type of Review: Extension. Title: REG–208299–90 (NPRM) Allocation and Sourcing of Income and Deductions Among Taxpayers Engaged in a Global Dealing Operation. Description: The information requested in sections 1.475(g)–2(b), 1.482–8(b)(3), (c)(3), (e)(5), (e)(6), (d)(3), and 1.863–3(h) is necessary for Service to determine whether the taxpayer has entered into controlled transactions at an arm’s length price. Respondents: Businesses and other for-profit institutions. Estimated Total Burden Hours: 20,000 hours. Clearance Officer: Glenn P. Kirkland, Internal Revenue Service, Room 6516, 1111 Constitution Avenue, NW., Washington, DC 20224, (202) 622–3428. OMB Reviewer: Alexander T. Hunt, Office of Management and Budget, Room 10235, New Executive Office Building, Washington, DC 20503, (202) 395–7316. Robert Dahl, Treasury PRA Clearance Officer. [FR Doc. E7–9032 Filed 5–9–07; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service [REG–208985–89] Proposed Collection; Comment Request for Regulation Project Internal Revenue Service (IRS), Treasury. ACTION: Notice and request for comments. AGENCY: E:\FR\FM\10MYN1.SGM 10MYN1 Federal Register / Vol. 72, No. 90 / Thursday, May 10, 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 notice of proposed rulemaking, REG–208985–89, Taxable Year of Certain Foreign Corporations Beginning After July 10, 1989 (§§ 1.563– 3, 1.898–3, and 1.898–4). DATES: Written comments should be received on or before July 9, 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). pwalker on PROD1PC71 with NOTICES SUPPLEMENTARY INFORMATION: Title: Taxable Year of Certain Foreign Corporations Beginning After July 10, 1989. OMB Number: 1545–1355. Regulation Project Number: REG– 208985–89 (formerly INTL–848–89). Abstract: This regulation provides guidance concerning Internal Revenue Code section 898, which seeks to eliminate the deferral of income and, therefore, the understatement in income, by United States shareholders of certain controlled foreign corporations and foreign personal holding companies. The elimination of deferral is accomplished by requiring a specified foreign corporation to conform its taxable year to the majority U.S. shareholder year. The information collected will be used by the IRS to assess the reported tax and determine whether taxpayers have complied with Code section 898. Current Actions: There is no change to this existing regulation. Type of Review: Extension of currently approved collection. Affected Public: Business or other forprofit organizations. Estimated Number of Respondents: 700. Estimated Time per Respondent: 1 hour. VerDate Aug<31>2005 15:04 May 09, 2007 Jkt 211001 Estimate Total Annual Burden Hours: 700. 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. 26683 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 existing final regulations, PS–78–91 (TD 8430), Procedure for Monitoring Compliance With Low-Income Housing Credit Requirements; PS–50–92 (TD 8521), Rules To Carry Out the Purposes of Section 42 and for Correcting Administrative Errors and Omissions; and REG–114664–97 (TD 8859), Compliance Monitoring and Miscellaneous Issues Relating to the Low-Income Housing Credit (§§ 1.42–5, 1.42–13, and 1.42–17). DATES: Written comments should be received on or before July 9, 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 (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: PS–78–91, Procedure for Monitoring Compliance With LowIncome Housing Credit Requirements; PS–50–92, Rules To Carry Out the Purposes of Section 42 and for Correcting Administrative Errors and Omissions; and REG–114664–97, Approved: May 1, 2007. Compliance Monitoring and Glenn Kirkland, Miscellaneous Issues Relating to the IRS Reports Clearance Officer. Low-Income Housing Credit. OMB Number: 1545–1357. [FR Doc. E7–8915 Filed 5–9–07; 8:45 am] Regulation Project Numbers: PS–78– BILLING CODE 4830–01–P 91; PS–50–92; and REG–114664–97. Abstract: PS–78–91. This regulation requires DEPARTMENT OF THE TREASURY state allocation plans to provide a Internal Revenue Service procedure for state and local housing credit agencies to monitor for [PS–78–91; PS–50–92; and REG–114664–97] compliance with the requirements of Code section 42 and report any Proposed Collection; Comment noncompliance to the IRS. Request for Regulation Project PS–50–92. This regulation concerns the Secretary of the Treasury’s authority AGENCY: Internal Revenue Service (IRS), to provide guidance under Code section Treasury. 42 and allows state and local housing ACTION: Notice and request for credit agencies to correct administrative comments. errors and omissions made in SUMMARY: The Department of the connection with allocations of lowTreasury, as part of its continuing effort income housing credit dollar amounts to reduce paperwork and respondent and recordkeeping within a reasonable burden, invites the general public and period after their discovery. REG–114664–97. This regulation other Federal agencies to take this amends the procedures for state and opportunity to comment on proposed local housing credit agencies’ and/or continuing information PO 00000 Frm 00096 Fmt 4703 Sfmt 4703 E:\FR\FM\10MYN1.SGM 10MYN1

Agencies

[Federal Register Volume 72, Number 90 (Thursday, May 10, 2007)]
[Notices]
[Pages 26682-26683]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-8915]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

[REG-208985-89]


Proposed Collection; Comment Request for Regulation Project

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

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[[Page 26683]]

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 notice of proposed rulemaking, REG-208985-89, Taxable 
Year of Certain Foreign Corporations Beginning After July 10, 1989 
(Sec. Sec.  1.563-3, 1.898-3, and 1.898-4).

DATES: Written comments should be received on or before July 9, 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: Taxable Year of Certain Foreign Corporations Beginning After 
July 10, 1989.
    OMB Number: 1545-1355.
    Regulation Project Number: REG-208985-89 (formerly INTL-848-89).
    Abstract: This regulation provides guidance concerning Internal 
Revenue Code section 898, which seeks to eliminate the deferral of 
income and, therefore, the understatement in income, by United States 
shareholders of certain controlled foreign corporations and foreign 
personal holding companies. The elimination of deferral is accomplished 
by requiring a specified foreign corporation to conform its taxable 
year to the majority U.S. shareholder year. The information collected 
will be used by the IRS to assess the reported tax and determine 
whether taxpayers have complied with Code section 898.
    Current Actions: There is no change to this existing regulation.
    Type of Review: Extension of currently approved collection.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents: 700.
    Estimated Time per Respondent: 1 hour.
    Estimate Total Annual Burden Hours: 700.
    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: May 1, 2007.
Glenn Kirkland,
IRS Reports Clearance Officer.
 [FR Doc. E7-8915 Filed 5-9-07; 8:45 am]
BILLING CODE 4830-01-P

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