Submission for OMB Review; Comment Request, 73422-73423 [E7-25116]

Agencies

• DEPARTMENT OF THE TREASURY
• Department of Treasury

[Federal Register Volume 72, Number 247 (Thursday, December 27, 2007)]
[Notices]
[Pages 73422-73423]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-25116]


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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

December 18, 2007.
    The Department of the Treasury will submit the following public 
information collection requirement(s) to OMB for review and clearance 
under the Paperwork Reduction Act of 1995, Public Law 104-13 on or 
after the date of publication of this notice. 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.

Dates: Written comments should be received on or before January 28, 
2008 to be assured of consideration.

Internal Revenue Service (IRS)

    OMB Number: 1545-1339.
    Type of Review: Extension.
    Title: IA-33-92 (Final) Information Reporting for Reimbursements of 
Interest on Qualified Mortgages.
    Description: To encourage compliance with the tax laws relating to 
the mortgage interest deduction, the regulations require the reporting 
on Form 1098 of reimbursements of interest overcharged in a prior year. 
Only businesses that receive mortgage interest in the course of that 
business are affected by this reporting requirement.
    Respondents: Businesses or other for-profit institutions.
    Estimated Total Burden Hours: 1 hour.

    OMB Number: 1545-2078.
    Type of Review: Revision.
    Title: Disclosure by Tax-Exempt Entity Regarding Prohibited Tax 
Shelter Transaction.
    Form: 8886-T.
    Description: Certain tax-exempt entities are required to file Form 
8886-T to disclose information for each prohibited tax shelter 
transaction to which the entity was a party.
    Respondents: Not-for-profit institutions.
    Estimated Total Burden Hours: 70,395 hours.

    OMB Number: 1545-1318.
    Type of Review: Extension.
    Title: REG-209545-92 (NPRM) Earnings and Profits of Foreign 
Corporations
    Description: Application of the proposed regulations may result in 
accounting method changes which ordinarily require the filing of Form 
3115. However, the proposed regulations waive this filing requirement 
if certain conditions are met, with the net result that no burdens are 
imposed.
    Respondents: Businesses and other for-profits.
    Estimated Total Burden Hours: 1 hour.

    OMB Number: 1545-1464.
    Type of Review: Extension.
    Title: IA-44-94 (Final) Deductibility, Substantiation, and 
Disclosure of Certain Charitable Contributions.
    Description: The regulation provides guidance regarding the 
allowance of certain charitable contribution deductions, the 
substantiation requirements for charitable contributions of $250 or 
more, and the disclosure requirements for quid pro quo contributions of 
$75 or more. These regulations will affect donee organizations and 
individuals and entities that make payments to donee organizations.
    Respondents: Individuals or households.
    Estimated Total Burden Hours: 1,975,000 hours.

    OMB Number: 1545-1083.
    Type of Review: Extension.
    Title: INTL-399-88 (Final) Treatment of Dual Consolidated Losses.

[[Page 73423]]

    Description: 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. The regulation allows an affiliate to make use of the loss if 
the loss has not been used in the foreign 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.
    Respondents: Businesses or other for-profit institutions.
    Estimated Total Burden Hours: 1,620 hours.

    OMB Number: 1545-1594.
    Type of Review: Extension.
    Title: REG-251520-96 (Final) Classification of Certain Transactions 
Involving Computer Programs.
    Description: The information requested in regulation Section 1.861-
18(k) is necessary for the Commissioner to determine whether a taxpayer 
properly is requesting to change its method of accounting.
    Respondents: Businesses or other for-profit institutions.
    Estimated Total Burden Hours: 1 hour.

    OMB Number: 1545-1119.
    Type of Review: Extension.
    Title: Form 8804--Annual Return for Partnership Withholding Tax 
(Section 1446); Form 8805--Foreign Partner's Information Statement of 
Section 1446 Withholding Tax (Section 1446); Form 8813--Partnership 
Withholding Tax Payment Voucher (Section 1446).
    Forms: 8804, 8805, and 8813.
    Description: Code section 1446 requires partnerships to pay a 
withholding tax if they have effectively connected taxable income 
allocable to foreign partners. Forms 8804, 8805, and 8813 are used by 
withholding agents to provide IRS and affected partners with data to 
assure proper withholding, crediting to partners' accounts and 
compliance.
    Respondents: Businesses or other for-profit institutions.
    Estimated Total Burden Hours: 152,005 hours.

    OMB Number: 1545-1774.
    Type of Review: Extension.
    Title: REG-135898-04 (Temporary) Extensions of Time to Elect Method 
for Determining Allowable Loss; REG-152524-02 (Temporary) Guidance 
Under Section 1502; REG-102740-02 (Final) Loss Limitation Rules; REG-
152.
    Description: The information is necessary to allow the taxpayer to 
make certain elections to determine the amount of allowable loss under 
Sec. 1.337(d)-2T, Sec. 1.1502-20 as currently in effect or under Sec. 
1.1502-20 as modified; to allow the taxpayer to waive loss carryovers 
up to the amount of the Sec. 1.150-20(g) election and to ensure that 
loss is not disallowed under Sec. 1.337(d)-2T and basis is not reduced 
under Sec. 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.
    Respondents: Businesses or other for-profit institutions.
    Estimated Total Burden Hours: 36,720 hours.

    OMB Number: 1545-1378.
    Type of Review: Extension.
    Title: PS-4-89 (Final) Disposition of an Interest in a Nuclear 
Power Plant.
    Description: The regulations require that certain information be 
submitted as part of a request for a schedule of ruling amounts. The 
regulations also require certain taxpayers to file a request for a 
revised schedule of ruling amounts.
    Respondents: Businesses or other for-profit institutions.
    Estimated Total Burden Hours: 575 hours.

    OMB Number: 1545-1010.
    Type of Review: Revision.
    Title: U.S. Income Tax Return for Regulated Investment Companies.
    Form: 1120-RIC.
    Description: Form 1120-RIC is filed by a domestic corporation 
electing to be taxed as a RIC in order to report its income and 
deductions and to compute its tax liability. IRC uses Form 1120-RIC to 
determine whether the RIC has correctly reported its income, 
deductions, and tax liability.
    Respondents: Businesses or other for-profit institutions.
    Estimated Total Burden Hours: 369,021 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. E7-25116 Filed 12-26-07; 8:45 am]
BILLING CODE 4830-01-P