Proposed Collection; Comment Request for Regulation Project, 52955 [E7-18286]

Download as PDF Federal Register / Vol. 72, No. 179 / Monday, September 17, 2007 / Notices 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: September 7, 2007. R. Joseph Durbala, IRS Reports Clearance Officer. [FR Doc. E7–18285 Filed 9–14–07; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service [REG–104072–97] Proposed Collection; Comment Request for Regulation Project Internal Revenue Service (IRS), Treasury. ACTION: Notice and request for comments. AGENCY: jlentini on PROD1PC65 with 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 regulation, REG–104072– 97 (TD 8853), Recharacterizing Financing Arrangements Involving FastPay Stock (§ 1.7701(l)–3). DATES: Written comments should be received on or before November 16, 2007 to be assured of consideration. ADDRESSES: Direct all written comments to R. Joseph Durbala, Internal Revenue Service, room 6129, 1111 Constitution Avenue, NW., Washington, DC 20224. FOR FURTHER INFORMATION CONTACT: Requests for additional information or copies of the regulation should be directed to Robert Black, at (202) 622– 6665, or at Internal Revenue Service, room 6129, 1111 Constitution Avenue, NW., Washington, DC 20224, or through the Internet, at Robert.G.Black@irs.gov. SUPPLEMENTARY INFORMATION: Title: Recharacterizing Financing Arrangements Involving Fast-Pay Stock. OMB Number: 1545–1642. Regulation Project Number: REG– 104072–97. VerDate Aug<31>2005 17:00 Sep 14, 2007 Jkt 211001 Abstract: Section 1.7701(l)–3 recharacterizes fast-pay arrangements. Certain participants in such arrangements must file a statement that includes the name of the corporation that issued the fast-pay stock, and (to the extent the filing taxpayer knows or has reason to know) the terms of the fast-pay stock, the date on which it was issued, and the names and taxpayer identification numbers of any shareholders of any class of stock that is not traded on an established securities market. Current Actions: There is no change to this existing regulation. Type of review: Extension of OMB approval. Affected Public: Business or other forprofit organizations. Estimated Number of Respondents: 50. Estimated Time per Respondent: 1 hour. Estimated Total Annual Burden Hours: 50. 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, PO 00000 Frm 00109 Fmt 4703 Sfmt 4703 52955 maintenance, and purchase of services to provide information. Approved: September 7, 2007. R. Joseph Durbala, IRS Reports Clearance Officer. [FR Doc. E7–18286 Filed 9–14–07; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Open Meeting of the Area 5 Committee of the Taxpayer Advocacy Panel (Including the States of Iowa, Kansas, Minnesota, Missouri, Nebraska, Oklahoma, and Texas) Internal Revenue Service (IRS), Treasury. AGENCY: ACTION: Notice of meeting. SUMMARY: An open meeting of the Area 5 Committee of the Taxpayer Advocacy Panel will be conducted. The Taxpayer Advocacy Panel is soliciting public comment, ideas, and suggestions on improving customer service at the Internal Revenue Service. The meeting will be held Tuesday, October 9, 2007, at 9:30 a.m. Central Time. DATES: FOR FURTHER INFORMATION CONTACT: Mary Ann Delzer 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 a meeting of the Area 5 Taxpayer Advocacy Panel will be held Tuesday, October 9, 2007, at 9:30 a.m. Central Time via a telephone conference call. You can submit written comments to the Panel by faxing to (414) 231–2363, or by mail to Taxpayer Advocacy Panel, Stop1006MIL, 211 West Wisconsin Avenue, Milwaukee, WI 53203–2221, or you can contact us at www.improveirs.org. Please contact Mary Ann Delzer at 1–888–912–1227 or (414) 231–2360 for dial-in information. The agenda will include the following: Various IRS issues. SUPPLEMENTARY INFORMATION: Dated: September 11, 2007. John Fay, Acting Director, Taxpayer Advocacy Panel. [FR Doc. E7–18287 Filed 9–14–07; 8:45 am] BILLING CODE 4830–01–P E:\FR\FM\17SEN1.SGM 17SEN1

Agencies

[Federal Register Volume 72, Number 179 (Monday, September 17, 2007)]
[Notices]
[Page 52955]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-18286]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

[REG-104072-97]


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, REG-104072-97 (TD 8853), Recharacterizing 
Financing Arrangements Involving Fast-Pay Stock (Sec.  1.7701(l)-3).

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

ADDRESSES: Direct all written comments to R. Joseph Durbala, Internal 
Revenue Service, room 6129, 1111 Constitution Avenue, NW., Washington, 
DC 20224.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the regulation should be directed to Robert Black, at (202) 
622-6665, or at Internal Revenue Service, room 6129, 1111 Constitution 
Avenue, NW., Washington, DC 20224, or through the Internet, at 
Robert.G.Black@irs.gov.

SUPPLEMENTARY INFORMATION: 
    Title: Recharacterizing Financing Arrangements Involving Fast-Pay 
Stock.
    OMB Number: 1545-1642.
    Regulation Project Number: REG-104072-97.
    Abstract: Section 1.7701(l)-3 recharacterizes fast-pay 
arrangements. Certain participants in such arrangements must file a 
statement that includes the name of the corporation that issued the 
fast-pay stock, and (to the extent the filing taxpayer knows or has 
reason to know) the terms of the fast-pay stock, the date on which it 
was issued, and the names and taxpayer identification numbers of any 
shareholders of any class of stock that is not traded on an established 
securities market.
    Current Actions: There is no change to this existing regulation.
    Type of review: Extension of OMB approval.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents: 50.
    Estimated Time per Respondent: 1 hour.
    Estimated Total Annual Burden Hours: 50.
    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: September 7, 2007.
R. Joseph Durbala,
IRS Reports Clearance Officer.
[FR Doc. E7-18286 Filed 9-14-07; 8:45 am]
BILLING CODE 4830-01-P

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