Proposed Collection; Comment Request for Regulation Project, 44225-44226 [E7-15265]

Download as PDF Federal Register / Vol. 72, No. 151 / Tuesday, August 7, 2007 / Notices DEPARTMENT OF THE TREASURY Internal Revenue Service [REG–135898–04] 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 and temporary regulation, REG–135898– 04, Extension of Time to Elect Method for Determining Allowable Loss; REG– 152524–02, Guidance Under Section 1502, Amendment of Waiver of Loss Carryovers from Separate Return Limitation Years; REG–123305–02, REG–102740–02, Loss Limitation Rules. DATES: Written comments should be received on or before October 9, 2007 to be assured of consideration. ADDRESSES: Direct all written comments to R. Joseph Durbala, 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 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. jlentini on PROD1PC65 with NOTICES SUPPLEMENTARY INFORMATION: Title: REG–135898–04 (NPRM and Temporary Regulations) Extension of Time to Elect Method for Determining Allowable Loss; REG–152524–02 (NPRM and Temporary Regulations) Guidance Under Section 1502; Amendment of Waiver of Loss Carryovers from Separate Return Limitation Years; REG–123305–02 (formerly REG–102305–02) (NPRM and Temporary Regulations); REG–102740– 02 (NPRM and Temporary Regulations) Loss Limitation Rules. OMB Number: 1545–1774. Regulation Project Number: REG– 135898–04. VerDate Aug<31>2005 17:20 Aug 06, 2007 Jkt 211001 Abstract: The information is necessary to allow the taxpayer to make certain elections to determine the amount of allowable loss under § 1.337(d)–2T, § 1.1502–20 as currently in effect or under § 1.1502–20 as modified; to allow the taxpayer to waive loss carryovers up to the amount of the § 1.1502–20(g) election; and to ensure that loss is not disallowed under § 1.337(d)–2T and basis is not reduced under § 1.337(d)-2T to the extent the taxpayer establishes that the loss or basis is not attributable to the recognition of built in gain on the disposition of an asset. With respect to § 1.1502–20T, the information also is necessary to allow the common parent of the selling group to reapportion a separate, subgroup or consolidated section 382 limitation when the acquiring group amends its § 1.1502– 32(b)(4) election. Furthermore, regarding § 1.1502–32(b)(4), the information also is necessary to allow the taxpayer that acquired a subsidiary of a consolidated group to amend its election under § 1.1502–32(b)(4), so that the acquiring group can use the acquired subsidiary’s losses to offset its income. The information also is necessary to allow the taxpayer to make certain elections to determine the amount of allowable loss pursuant to a new due date, and to amend or revoke certain prior elections to determine the amount of allowable loss. Current Actions: There is no change to this existing regulation. Type of Review: Extension of OMB approval. Affected Public: Business or other forprofit. Estimated Number of Respondents: 18,360. Estimated Time per Respondent: 2 hours. Estimated Total Annual Hours: 36,720. 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 PO 00000 Frm 00150 Fmt 4703 Sfmt 4703 44225 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: July 25, 2007. R. Joseph Durbala, IRS Reports Clearance Officer. [FR Doc. E7–15262 Filed 8–6–07; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service [PS–4–89] 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, PS–4–89 (TD 8580), Disposition of an Interest in a Nuclear Power Plant (§ 1.468A–3). DATES: Written comments should be received on or before October 9, 2007. ADDRESSES: Direct all written comments to R. Joseph Durbala, 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 Robert Black at Internal Revenue Service, room 6516, 1111 Constitution Avenue, NW., Washington, DC 20224, or at (202) 622–6665, or E:\FR\FM\07AUN1.SGM 07AUN1 44226 Federal Register / Vol. 72, No. 151 / Tuesday, August 7, 2007 / Notices through the internet at Robert.G.Black@irs.gov. jlentini on PROD1PC65 with NOTICES SUPPLEMENTARY INFORMATION: Title: Disposition of an Interest in a Nuclear Power Plant. OMB Number: 1545–1378. Regulation Project Number: PS–4–89 (Final). Abstract: This regulation relates to certain Federal income tax consequences of a disposition of an interest in a nuclear power plant by a taxpayer that has maintained a nuclear decommissioning fund with respect to that plant. The regulation affects taxpayers that transfer or acquire interests in nuclear power plants by providing guidance on the tax consequences of these transfers. In addition, the regulation extends the benefits of Internal Revenue Code section 468A to electing taxpayers with an interest in a nuclear power plant under the jurisdiction of the Rural Electrication Administration. 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: 70. Estimated Time per Respondent: 8 hrs., 13 minutes. Estimated Total Annual Burden Hours: 575 hours. 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 VerDate Aug<31>2005 15:56 Aug 06, 2007 Jkt 211001 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: July 27, 2007. R. Joseph Durbala, IRS Reports Clearance Officer. [FR Doc. E7–15265 Filed 8–6–07; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Revenue Procedure 2007– 37 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 2007–37, Substitute Mortality Tables for Single Employer Defined Benefit Plans. DATES: Written comments should be received on or before October 9, 2007 to be assured of consideration. ADDRESSES: Direct all written comments to Joseph Durbala, 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 Allan Hopkins at Internal Revenue Service, Room 6516, 1111 Constitution Avenue, NW., Washington, DC 20224, or at (202) 622–6665, or through the internet at Allan.M.Hopkins@irs.gov. SUPPLEMENTARY INFORMATION: Title: Substitute Mortality Tables for Single Employer Defined Benefit Plans. OMB Number: 1545–2073. Revenue Procedure Number: Revenue Procedure 2007–37. Abstract: Revenue Procedure 2007–37 describes the process for obtaining a letter ruling as to the acceptability of PO 00000 Frm 00151 Fmt 4703 Sfmt 4703 substitute mortality tables under section 430(h)(3)(C) of the 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: Business or other forprofit organizations, not-for-profit institutions and farms. Estimated Number of Responses: 450. Estimated Annual Average Time per Response: 56 hrs., 25 min. Estimated Total Annual Hours: 25,400. 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: July 25, 2007. R. Joseph Durbala, IRS Reports Clearance Officer. [FR Doc. E7–15266 Filed 8–6–07; 8:45 am] BILLING CODE 4830–01–P E:\FR\FM\07AUN1.SGM 07AUN1

Agencies

[Federal Register Volume 72, Number 151 (Tuesday, August 7, 2007)]
[Notices]
[Pages 44225-44226]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-15265]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

[PS-4-89]


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, PS-4-89 (TD 8580), Disposition of an 
Interest in a Nuclear Power Plant (Sec.  1.468A-3).

DATES: Written comments should be received on or before October 9, 
2007.

ADDRESSES: Direct all written comments to R. Joseph Durbala, 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 Robert Black at 
Internal Revenue Service, room 6516, 1111 Constitution Avenue, NW., 
Washington, DC 20224, or at (202) 622-6665, or

[[Page 44226]]

through the internet at Robert.G.Black@irs.gov.

SUPPLEMENTARY INFORMATION:
    Title: Disposition of an Interest in a Nuclear Power Plant.
    OMB Number: 1545-1378.
    Regulation Project Number: PS-4-89 (Final).
    Abstract: This regulation relates to certain Federal income tax 
consequences of a disposition of an interest in a nuclear power plant 
by a taxpayer that has maintained a nuclear decommissioning fund with 
respect to that plant. The regulation affects taxpayers that transfer 
or acquire interests in nuclear power plants by providing guidance on 
the tax consequences of these transfers. In addition, the regulation 
extends the benefits of Internal Revenue Code section 468A to electing 
taxpayers with an interest in a nuclear power plant under the 
jurisdiction of the Rural Electrication Administration.
    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: 70.
    Estimated Time per Respondent: 8 hrs., 13 minutes.
    Estimated Total Annual Burden Hours: 575 hours.
    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: July 27, 2007.
R. Joseph Durbala,
IRS Reports Clearance Officer.
[FR Doc. E7-15265 Filed 8-6-07; 8:45 am]
BILLING CODE 4830-01-P

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