Proposed Collection; Comment Request for Regulation Project, 2564 [E8-580]
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Federal Register / Vol. 73, No. 10 / Tuesday, January 15, 2008 / Notices
confidential business information
provisions of 49 CFR part 512.
Requesters are not required to keep
copies of any records or reports
submitted to us. As a result, the cost
imposed to keep records would be zero
hours and zero costs.
Number of Respondents: We estimate
that there will be approximately 450
requests per year.
Summary of the Collection of
Information: Any entity seeking
confidential treatment for information
submitted to the agency will be required
to request confidential treatment from
the agency and to justify that request. To
obtain confidential treatment of
submitted information, the submitting
entity must comply with the
requirements in NHTSA’s CBI
regulation and satisfy the requirements
for one of the exemptions provided
under the FOIA, 5 U.S.C. 552(b).
ADDRESSES: Send comments, within 30
days, to the Office of Information and
Regulatory Affairs, Office of
Management and Budget, 725 17th
Street, NW., Washington, DC 20503,
Attention NHTSA Desk Officer.
Comments are invited on: Whether
the proposed collection of information
is necessary for the proper performance
of the functions of the Department,
including whether the information will
have practical utility; the accuracy of
the Department’s estimate of the burden
of the proposed information collection;
ways to enhance the quality, utility and
clarity of the information to be
collected; and ways to minimize the
burden of the collection of information
on respondents, including the use of
automated collection techniques or
other forms of information technology.
A comment to OMB is most effective if
OMB receives it within 30 days of
publication.
Issued on: January 9, 2008.
Lloyd S. Guerci,
Assistant Chief Counsel for Litigation and
Enforcement.
[FR Doc. E8–487 Filed 1–14–08; 8:45 am]
BILLING CODE 4910–59–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
rwilkins on PROD1PC63 with NOTICES
[REG–142299–01 & REG–209135–88]
Proposed Collection; Comment
Request for Regulation Project
Internal Revenue Service (IRS),
Treasury.
ACTION: Notice and request for
comments.
AGENCY:
VerDate Aug<31>2005
17:48 Jan 14, 2008
Jkt 214001
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 existing
final regulations, REG–142299–01 and
REG–209135–88, Certain Transfers of
Property to Regulated Investment
Companies (RICs) and Real Estate
Investment Trusts (REITs).
DATES: Written comments should be
received on or before March 17, 2008 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 regulations should be
directed to Carolyn N. Brown at Internal
Revenue Service, Room 6129, 1111
Constitution Avenue, NW., Washington,
DC 20224, or at (202) 622–6688, or
through the Internet at
Carolyn.N.Brown@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Certain Transfers of Property to
Regulated Investment Companies (RICs)
and Real Estate Investment Trusts
(REITs).
OMB Number: 1545–1672.
Regulation Project Number: REG–
142299–01 and REG–209135–88.
Abstract: The regulation applies with
respect to the net built-in gain of C
corporation property that becomes
property of a Regulated Investment
Company (RIC) or Real Estate
Investment Trust (REIT) by the
qualification of a C corporation as a RIC
or REIT or by the transfer of property of
a C corporation to a RIC or REIT in
certain tax-free transactions. Depending
on the date of the transfer of property
or qualification as a RIC or REIT, the
regulation provides that either (1) the C
corporation will recognize gain as if it
had sold the property at fair market
value unless the RIC or REIT elects
section 1374 treatment or (2) the RIC or
REIT will be subject to section 1374
treatment with respect to the net
recognized built-in-gain, unless the C
corporation elects deemed sale
treatment. The regulation provides that
a section 1374 election is made by filing
a statement, signed by an official
authorized to sign the income tax return
of the RIC or REIT and attached to the
RIC’s or REIT’s Federal income tax
PO 00000
Frm 00124
Fmt 4703
Sfmt 4703
return for the taxable year in which the
property of the C corporation becomes
the property of the RIC or REIT. The
regulation provides that a deemed sale
election is made by filing a statement,
signed by an official authorized to sign
the income tax return of the C
corporation and attached to the C
corporation’s Federal income tax return
for the taxable year in which the
deemed sale occurs.
Current Actions: There are no changes
being made to this existing regulation.
Type of Review: Extension of
currently approved collection.
Affected Public: Business or other forprofit organizations.
Estimated Number of Respondents:
140.
Estimated Time per Respondent: 30
minutes.
Estimated Total Annual Burden
Hours: 70.
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: January 9, 2008.
R. Joseph Durbala,
IRS Reports Clearance Officer.
[FR Doc. E8–580 Filed 1–14–08; 8:45 am]
BILLING CODE 4830–01–P
E:\FR\FM\15JAN1.SGM
15JAN1
]]>Agencies
[Federal Register Volume 73, Number 10 (Tuesday, January 15, 2008)]
[Notices]
[Page 2564]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-580]
=======================================================================
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
[REG-142299-01 & REG-209135-88]
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
existing final regulations, REG-142299-01 and REG-209135-88, Certain
Transfers of Property to Regulated Investment Companies (RICs) and Real
Estate Investment Trusts (REITs).
DATES: Written comments should be received on or before March 17, 2008
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 regulations should be directed to Carolyn N. Brown at
Internal Revenue Service, Room 6129, 1111 Constitution Avenue, NW.,
Washington, DC 20224, or at (202) 622-6688, or through the Internet at
Carolyn.N.Brown@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Certain Transfers of Property to Regulated Investment
Companies (RICs) and Real Estate Investment Trusts (REITs).
OMB Number: 1545-1672.
Regulation Project Number: REG-142299-01 and REG-209135-88.
Abstract: The regulation applies with respect to the net built-in
gain of C corporation property that becomes property of a Regulated
Investment Company (RIC) or Real Estate Investment Trust (REIT) by the
qualification of a C corporation as a RIC or REIT or by the transfer of
property of a C corporation to a RIC or REIT in certain tax-free
transactions. Depending on the date of the transfer of property or
qualification as a RIC or REIT, the regulation provides that either (1)
the C corporation will recognize gain as if it had sold the property at
fair market value unless the RIC or REIT elects section 1374 treatment
or (2) the RIC or REIT will be subject to section 1374 treatment with
respect to the net recognized built-in-gain, unless the C corporation
elects deemed sale treatment. The regulation provides that a section
1374 election is made by filing a statement, signed by an official
authorized to sign the income tax return of the RIC or REIT and
attached to the RIC's or REIT's Federal income tax return for the
taxable year in which the property of the C corporation becomes the
property of the RIC or REIT. The regulation provides that a deemed sale
election is made by filing a statement, signed by an official
authorized to sign the income tax return of the C corporation and
attached to the C corporation's Federal income tax return for the
taxable year in which the deemed sale occurs.
Current Actions: There are no changes being made to this existing
regulation.
Type of Review: Extension of currently approved collection.
Affected Public: Business or other for-profit organizations.
Estimated Number of Respondents: 140.
Estimated Time per Respondent: 30 minutes.
Estimated Total Annual Burden Hours: 70.
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: January 9, 2008.
R. Joseph Durbala,
IRS Reports Clearance Officer.
[FR Doc. E8-580 Filed 1-14-08; 8:45 am]
BILLING CODE 4830-01-P
