Proposed Collection; Comment Request for Regulation Project, 48732-48733 [E7-16738]

Download as PDF 48732 Federal Register / Vol. 72, No. 164 / Friday, August 24, 2007 / Notices DEPARTMENT OF THE TREASURY Internal Revenue Service [REG–209545–92] 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 REG–209545–92, Earnings and Profits of Foreign Corporations (1.964–1(c)(1)(v)). DATES: Written comments should be received on or before October 23, 2007 to be assured of consideration. ADDRESSES: Direct all written comments to David C. Brown, Internal Revenue Service, room 6129, 1111 Constitution Avenue, NW., Washington, DC 20224. FOR FURTHER INFORMATION CONTACT: Requests for copies of the regulation should be directed to Allan Hopkins, at (202) 622–6665, or at Internal Revenue Service, room 6129, 1111 Constitution Avenue, NW., Washington, DC 20224, or through the internet, at Allan.M.Hopkins@irs.gov. yshivers on PROD1PC66 with NOTICES SUPPLEMENTARY INFORMATION: Title: Earnings and Profits of Foreign Corporations. OMB Number: 1545–1318. Regulation Project Number: REG– 209545–92 (formerly INTL–18–92). Abstract: This regulation modifies the computation of earnings and profits of foreign corporations by allowing them to account for inventory costs using capitalization methods used for financial accounting purposes rather than the uniform capitalization rules required by Internal Revenue Code section 263A. The regulation also permits reliance on financial accounting conventions in computing depreciation for foreign corporations deriving less than 20 percent of gross income from U.S. sources and maintaining assets with financial book bases not materially different from tax bases. Use of simplified rules may result in an accounting method change, which would ordinarily require the filing of VerDate Aug<31>2005 14:35 Aug 23, 2007 Jkt 211001 Form 3115, Application for Change in Accounting Method. However, the regulation waives any Form 3115 filing requirements if certain conditions are met. Current Actions: There are no changes to this existing regulation. Type of Review: Extension of a currently approved collection. Affected Public: Business or other forprofit organizations. The burden for the collection of information is reflected in the burden for Form 3115, Application for Change in Accounting Method. 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: August 16, 2007 David C. Brown, IRS Reports Clearance Officer. [FR Doc. E7–16719 Filed 8–23–07; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service [INTL–399–88] Proposed Collection; Comment Request for Regulation Project Internal Revenue Service (IRS), Treasury. AGENCY: PO 00000 Frm 00124 Fmt 4703 Sfmt 4703 Notice and request for comments. ACTION: 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, INTL–399–88 (TD 8434), Treatment of Dual Consolidated Losses (1.1503–2). DATES: Written comments should be received on or before October 23, 2007, to be assured of consideration. ADDRESSES: Direct all written comments to David C. Brown, Internal Revenue Service, room 6129, 1111 Constitution Avenue, NW., Washington, DC 20224. FOR FURTHER INFORMATION CONTACT: Requests for copies of the regulations should be directed to Allan Hopkins at Internal Revenue Service, room 6129, 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: Treatment of Dual Consolidated Losses. OMB Number: 1545–1083. Regulation Project Number: INTL–399–88. Abstract: Internal Revenue Code section 1503(d) denies use of the losses of one domestic corporation by another affiliated domestic corporation where the loss corporation is also subject to the income tax of another country. This regulation allows an affiliate to make use of the loss if the loss has not been used in the foreign country and if an agreement is attached to the income tax return of the dual resident corporation or group, to take the loss into income upon future use of the loss in the foreign country. The regulation also requires separate accounting for a dual consolidated loss where the dual resident corporation files a consolidated return. 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: 500. Estimated Time Per Respondent: 3 hrs., 14 minutes. Estimated Total Annual Burden Hours: 1,620 minutes. E:\FR\FM\24AUN1.SGM 24AUN1 Federal Register / Vol. 72, No. 164 / Friday, August 24, 2007 / Notices 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: August 15, 2007. David C. Brown, IRS Reports Clearance Officer. [FR Doc. E7–16738 Filed 8–23–07; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Open Meeting of the Area 4 Committee of the Taxpayer Advocacy Panel (Including the States of Illinois, Indiana, Kentucky, Michigan, Ohio, Tennessee, and Wisconsin) Internal Revenue Service (IRS) Treasury. ACTION: Notice. yshivers on PROD1PC66 with NOTICES AGENCY: SUMMARY: An open meeting of the Area 4 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. VerDate Aug<31>2005 14:35 Aug 23, 2007 Jkt 211001 The meeting will be held Tuesday, September 18, 2007, at 10 a.m., Central Time. FOR FURTHER INFORMATION CONTACT: Mary Ann Delzer at 1–888–912–1227, or (414) 231–2360. SUPPLEMENTARY INFORMATION: Notice is hereby given pursuant to Section 10(a)(2) of the Federal Advisory Committee Act, 5 U.S.C. App. (1988) that a meeting of the Area 4 Committee of the Taxpayer Advocacy Panel will be held Tuesday, September 18, 2007, at 10 a.m., Central Time via a telephone conference call. Please contact Mary Ann Delzer at 1–888–912–1227 or (414) 231–2360 for dial-in information. You can also submit written comments to the Panel by faxing the comments to (414) 231–2363, or by mail to Taxpayer Advocacy Panel, Stop 1006MIL, 211 West Wisconsin Avenue, Milwaukee, WI 53203–2221, or you can contact us at www.improveirs.org. The agenda will include the following: Various IRS issues. DATES: Dated: August 20, 2007. John Fay, Acting Director, Taxpayer Advocacy Panel. [FR Doc. E7–16714 Filed 8–23–07; 8:45 am] 48733 Panel will be held Wednesday, September 19, 2007, from 2 p.m. to 3:30 p.m. Pacific Time via a telephone conference call. The public is invited to make oral comments. Individual comments will be limited to 5 minutes. Due to limited conference lines, notification of intent to participate in the telephone conference call meeting must be made with Janice Spinks. Miss Spinks can be reached at 1–888–912– 1227 or 206–220–6096. If you would like to have the TAP consider a written statement, please call Janice Spinks at 1–888–912–1227 or 206–220–6096, or write to Janice Spinks, TAP Office, 915 2nd Avenue, MS W–406, Seattle, WA 98174, or you can contact us at www.improveirs.org. The agenda will include the following: Various IRS issues. Dated: August 20, 2007. John Fay, Acting Director, Taxpayer Advocacy Panel. [FR Doc. E7–16720 Filed 8–23–07; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Open Meeting of the Area 7 Committee of the Taxpayer Advocacy Panel (Including the States of Alaska, California, Hawaii, and Nevada) Open Meeting of the Area 2 Committee of the Taxpayer Advocacy Panel (Including the States of Delaware, North Carolina, South Carolina, New Jersey, Maryland, Pennsylvania, Virginia, and West Virginia and the District of Columbia) AGENCY: Internal Revenue Service (IRS), Treasury. ACTION: Notice. SUMMARY: An open meeting of the Area 7 Committee of the Taxpayer Advocacy Panel will be conducted (via teleconference). The Taxpayer Advocacy Panel (TAP) is soliciting public comments, ideas, and suggestions on improving customer service at the Internal Revenue Service. The TAP will use citizen input to make recommendations to the Internal Revenue Service. DATES: The meeting will be held Wednesday, September 19, 2007. FOR FURTHER INFORMATION CONTACT: Janice Spinks at 1–888–912–1227, or 206–220–6096. SUPPLEMENTARY INFORMATION: 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 Area 7 Committee of the Taxpayer Advocacy SUMMARY: An open meeting of the Area 2 Committee of the Taxpayer Advocacy Panel will be conducted (via teleconference). The Taxpayer Advocacy Panel is soliciting public comments, ideas, and suggestions on improving customer service at the Internal Revenue Service. DATES: The meeting will be held Wednesday, September 19, 2007, at 2:30 p.m. ET. FOR FURTHER INFORMATION CONTACT: Inez E. De Jesus at 1–888–912–1227, or 954– 423–7977. SUPPLEMENTARY INFORMATION: 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 Area 2 Committee of the Taxpayer Advocacy Panel will be held Wednesday, September 19, 2007 at 2:30 p.m. ET via a telephone conference call. Due to limited conference lines, notification of Internal Revenue Service (IRS), Treasury. ACTION: Notice. PO 00000 Frm 00125 Fmt 4703 Sfmt 4703 AGENCY: E:\FR\FM\24AUN1.SGM 24AUN1

Agencies

[Federal Register Volume 72, Number 164 (Friday, August 24, 2007)]
[Notices]
[Pages 48732-48733]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-16738]


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

DEPARTMENT OF THE TREASURY

Internal Revenue Service

[INTL-399-88]


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, INTL-399-88 (TD 8434), Treatment of Dual 
Consolidated Losses (1.1503-2).

DATES: Written comments should be received on or before October 23, 
2007, to be assured of consideration.

ADDRESSES: Direct all written comments to David C. Brown, Internal 
Revenue Service, room 6129, 1111 Constitution Avenue, NW., Washington, 
DC 20224.

FOR FURTHER INFORMATION CONTACT: Requests for copies of the regulations 
should be directed to Allan Hopkins at Internal Revenue Service, room 
6129, 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: Treatment of Dual Consolidated Losses.
    OMB Number: 1545-1083. Regulation Project Number: INTL-399-88.
    Abstract: Internal Revenue Code section 1503(d) denies use of the 
losses of one domestic corporation by another affiliated domestic 
corporation where the loss corporation is also subject to the income 
tax of another country. This regulation allows an affiliate to make use 
of the loss if the loss has not been used in the foreign country and if 
an agreement is attached to the income tax return of the dual resident 
corporation or group, to take the loss into income upon future use of 
the loss in the foreign country. The regulation also requires separate 
accounting for a dual consolidated loss where the dual resident 
corporation files a consolidated return.
    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: 500.
    Estimated Time Per Respondent: 3 hrs., 14 minutes.
    Estimated Total Annual Burden Hours: 1,620 minutes.

[[Page 48733]]

    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: August 15, 2007.
David C. Brown,
IRS Reports Clearance Officer.
[FR Doc. E7-16738 Filed 8-23-07; 8:45 am]
BILLING CODE 4830-01-P

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