Proposed Collection; Comment Request for Revenue Procedure 2006-XX, 27899-27900 [E7-9532]

Download as PDF Federal Register / Vol. 72, No. 95 / Thursday, May 17, 2007 / Notices pwalker on PROD1PC71 with NOTICES Internal Revenue Service (IRS) OMB Number: 1545–0959. Type of Review: Extension. Title: LR–213–76 (Final) Estate and Gift Taxes; Qualified Disclaimers of Property. Description: Section 2518 allows a person to disclaim an interest in property received by gift or inheritance. The interest is treated as if the disclaimant never received or transferred such interest for Federal gift tax purposes. A qualified disclaimer must be in writing and delivered to the transferor or trustee. Respondents: Individuals or households. Estimated Total Burden Hours: 1,000 hours. OMB Number: 1545–0181. Type of Review: Revision. Title: Application for Extension of Time to File a Return and/or Pay U.S. Estate (and Generation-Skipping Transfer) Taxes. Form: 4768. Description: Form 4768 is used by estates to request an extension of time to file an estate (and GST) tax return and/or to pay the estate (and GST) taxes and to explain why the extension should be granted. IRS uses the information to decide whether the extension should be granted. Respondents: Businesses and other for-profit institutions. Estimated Total Burden Hours: 30,710 hours. OMB Number: 1545–1668. Type of Review: Revision. Title: Return of U.S. Persons With Respect to Certain Foreign Partnerships. Form: 8865. Description: The Taxpayer Relief Act of 1997 significantly modified the information reporting requirements with respect to foreign partnerships. The Act made the following three changes (1) expanded section 6038B to require U.S. persons transferring property to foreign partnerships in certain transactions to report those transfers; (2) expanded section 6038 to require certain U.S. Partners of controlled foreign partnerships to report information about the partnerships; and (3) modified the reporting required under section 6046A with respect to acquisitions and dispositions of foreign partnership interests. Respondents: Businesses or other forprofit institutions. Estimated Total Burden Hours: 296,124 hours. OMB Number: 1545–1592. Type of Review: Extension. Title: Revenue Procedure 98–20, Certification for No Information VerDate Aug<31>2005 17:15 May 16, 2007 Jkt 211001 Reporting on the Sale of a Principal Residence. Description: The revenue procedure applies only to the sale of a principal residence for $250,000 or less ($500,000 or less if the seller is married). The revenue procedure provides the written assurances that are acceptable to the Service for exempting a real estate reporting person from information reporting requirements for the sale of a principal residence. Respondents: Individuals or households. Estimated Total Burden Hours: 420,500 hours. OMB Number: 1545–1212. Type of Review: Extension. Title: U.S. Estate Tax Return for Qualified Domestic Trusts. Form: 706–QDT. Description: Form 706–QDT is used by the trustee or the designated filer to compute and report the Federal estate tax imposed on qualified domestic trusts by C section 2056A. IRS uses the information to enforce this tax and to verify that the tax has been properly computed. Respondents: Individuals or households. Estimated Total Burden Hours: 357 hours. Clearance Officer: Glenn P. Kirkland, (202) 622–3428, Internal Revenue Service, Room 6516, 1111 Constitution Avenue, NW., Washington, DC 20224. OMB Reviewer: Alexander T. Hunt, (202) 395–7316, Office of Management and Budget, Room 10235, New Executive Office Building, Washington, DC 20503. Robert Dahl, Treasury PRA Clearance Officer. [FR Doc. E7–9514 Filed 5–16–07; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Revenue Procedure 2006– XX 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 PO 00000 Frm 00100 Fmt 4703 Sfmt 4703 27899 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 2006–XX, Rotable Spare Parts Safe Harbor Method. DATES: Written comments should be received on or before July 16, 2007 to be assured of consideration. ADDRESSES: Direct all written comments to Glenn P. Kirkland, Internal Revenue Service, room 6411, 1111 Constitution Avenue, NW., Washington, DC 20224. FOR FURTHER INFORMATION CONTACT: Requests for additional information or copies of revenue procedures 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: Rotable Spare Parts Safe Harbor Method. OMB Number: 1545–2070. Revenue Procedure Number: Rev. Proc. 2006–XX. Abstract: The information for which the agency is requesting to collect will support a taxpayer’s claim for eligibility to use the safe harbor method of accounting for rotable spare parts provided in the proposed revenue procedures. The information will be submitted as a supporting schedule for the Form 3115, Application for Change in Accounting Method. Current Actions: There are no changes being made to the revenue procedures at this time. Type of Review: Extension of a currently approved collection. Affected Public: Business or other forprofit organizations. Estimated Number of Respondents: 300. Estimated Time per Respondent: 15 minutes. Estimated Total Annual Burden Hours: 75. 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 E:\FR\FM\17MYN1.SGM 17MYN1 27900 Federal Register / Vol. 72, No. 95 / Thursday, May 17, 2007 / Notices 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 3, 2007. Joseph R. Durbala, IRS Reports Clearance Officer. [FR Doc. E7–9532 Filed 5–16–07; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Open Meeting of the Earned Income Tax Credit Committee of the Taxpayer Advocacy Panel Internal Revenue Service (IRS), Treasury. ACTION: Amended notice. AGENCY: pwalker on PROD1PC71 with NOTICES SUMMARY: An open meeting of the Earned Income Tax Credit Committee of the Taxpayer Advocacy Panel will be conducted at the Internal Revenue Service, 1750 Pennsylvania Avenue, Washington, DC 20006. The Committee will be discussing issues pertaining to the IRS administration of the Earned Income Tax Credit. DATES: The meeting will be held Friday, June 1, 2007, 9 a.m. to 4:30 p.m., and VerDate Aug<31>2005 17:15 May 16, 2007 Jkt 211001 Saturday, June 2, 2007, from 9 a.m. to 12 Noon ET. ACTION: FOR FURTHER INFORMATION CONTACT: SUMMARY: An open meeting of the Joint Committee of the Taxpayer Advocacy Panel will be conducted via teleconference. The Taxpayer Advocacy Panel is soliciting public comment, ideas, and suggestions on improving customer service at the Internal Revenue Service. Audrey Y. Jenkins at 1–888–912–1227 (toll-free), or 718–488–2085 (non tollfree). Notice is hereby given pursuant to Section 10(a)(2) of the Federal Advisory Committee Act, 5 U.S.C. App. (1988) that an open meeting of the Earned Income Tax Credit Committee of the Taxpayer Advocacy Panel will be held Friday, June 1, 2007, 9 a.m. to 4:30 p.m., and Saturday, June 2, 2007, from 9 a.m. to 12 p.m. ET, at 1750 Pennsylvania Avenue, Washington, DC 20006. The public is invited to make oral comments. Individual comments will be limited to 5 minutes. For information contact Audrey Y. Jenkins as noted above. Notification of intent to participate in the meeting must be made with Ms. Jenkins. If you would like a written statement to be considered, send written comments to Ms. Audrey Y. Jenkins, TAP Office, 10 MetroTech Center, 625 Fulton Street, Brooklyn, NY 11201 or post your comments to the Web site: https://www.improveirs.org. The agenda will include the following: Various issues pertaining to the IRS administration of the Earned Income Tax Credit. SUPPLEMENTARY INFORMATION: Dated: May 10, 2007. John Fay, Acting Director, Taxpayer Advocacy Panel. [FR Doc. E7–9531 Filed 5–16–07; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Open Meeting of the Joint Committee of the Taxpayer Advocacy Panel Internal Revenue Service (IRS), Treasury. AGENCY: PO 00000 Frm 00101 Fmt 4703 Sfmt 4703 Notice. The meeting will be held Wednesday, June 6, 2007, at 1 p.m., Eastern Time. DATES: FOR FURTHER INFORMATION CONTACT: Barbara Toy at 1–888–912–1227, or (414) 231–2360. Notice is hereby given pursuant to Section 10(a)(2) of the Federal Advisory Committee Act, 5 U.S.C. App. (1988) that an open meeting of the Joint Committee of the Taxpayer Advocacy Panel (TAP) will be held Wednesday, June 6, 2007, at 1 p.m. Eastern Time via a telephone conference call. If you would like to have the Joint Committee of TAP consider a written statement, please call 1–888–912–1227 or (414) 231–2360, or write Barbara Toy, TAP Office, MS–1006–MIL, PO Box 3205, Milwaukee, WI 53201–2105, or FAX to (414) 231–2363, or you can contact us at https://www.improveirs.org. Due to limited conference lines, notification of intent to participate in the telephone conference call meeting must be made with Barbara Toy. The agenda will include the following: Discussion of issues and responses brought to the Joint Committee, office report, and discussion of next meeting. SUPPLEMENTARY INFORMATION: Dated: May 10, 2007. John Fay, Acting Director, Taxpayer Advocacy Panel. [FR Doc. E7–9537 Filed 5–16–07; 8:45 am] BILLING CODE 4830–01–P E:\FR\FM\17MYN1.SGM 17MYN1

Agencies

[Federal Register Volume 72, Number 95 (Thursday, May 17, 2007)]
[Notices]
[Pages 27899-27900]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-9532]


-----------------------------------------------------------------------

DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Revenue Procedure 2006-
XX

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 
Revenue Procedure 2006-XX, Rotable Spare Parts Safe Harbor Method.

DATES: Written comments should be received on or before July 16, 2007 
to be assured of consideration.

ADDRESSES: Direct all written comments to Glenn P. Kirkland, Internal 
Revenue Service, room 6411, 1111 Constitution Avenue, NW., Washington, 
DC 20224.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of revenue procedures 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: Rotable Spare Parts Safe Harbor Method.
    OMB Number: 1545-2070.
    Revenue Procedure Number: Rev. Proc. 2006-XX.
    Abstract: The information for which the agency is requesting to 
collect will support a taxpayer's claim for eligibility to use the safe 
harbor method of accounting for rotable spare parts provided in the 
proposed revenue procedures. The information will be submitted as a 
supporting schedule for the Form 3115, Application for Change in 
Accounting Method.
    Current Actions: There are no changes being made to the revenue 
procedures at this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents: 300.
    Estimated Time per Respondent: 15 minutes.
    Estimated Total Annual Burden Hours: 75.
    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

[[Page 27900]]

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 3, 2007.
Joseph R. Durbala,
IRS Reports Clearance Officer.
 [FR Doc. E7-9532 Filed 5-16-07; 8:45 am]
BILLING CODE 4830-01-P

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