Proposed Collection; Comment Request for Regulation Project, 9857-9858 [E8-3349]

Download as PDF mstockstill on PROD1PC66 with NOTICES Federal Register / Vol. 73, No. 36 / Friday, February 22, 2008 / Notices Estimated Total Burden Hours: 2,458 hours. OMB Number: 1545–1478. Type of Review: Extension. Title: INTL–9–95 (Final) Certain Transfers of Domestic Stock or Securities by U.S. Persons to Foreign Corporation’s (TD 8702). Description: Transfers of stock or securities by U.S. persons in tax-free transactions are treated as taxable transactions when the acquirer is a foreign corporation, unless an exception applies (section 367(a)). Under the regulations, no U.S. person will qualify for an exception unless the U.S. target company complies with certain reporting requirements. Respondents: Businesses or other forprofit institutions. Estimated Total Burden Hours: 1,000 hours. OMB Number: 1545–2084. Type of Review: Extension. Title: Foreign Based Importers—NonFilers. Description: Foreign corporations are subject to tax on income that is effectively connected with a U.S. trade or business and are required to file form 1120, 1120–f or 1065 reporting taxable income. The respondents will be foreign corporations. The information gathered will be used to determine if the foreign corporation has a U.S. trade or business and is required to file a U.S. Income Tax return. Respondents: Businesses or other forprofit institutions. Estimated Total Burden Hours: 30 hours. OMB Number: 1545–1770. Type of Review: Extension. Title: REG–115054–01 (Final) Treatment of Community Income for Certain Individuals Not Filing Joint Returns. Description: The regulations provide rules to determine how community income is treated under section 66 for certain married individuals in community property states who do not file joint individual Federal income tax returns. The regulations also reflect changes in the law made by the IRS Restructuring and Reform Act of 1998. Respondents: Businesses or other forprofit institutions. Estimated Total Burden Hours: 1 hour. OMB Number: 1545–2083. Type of Review: Extension. Title: Form 8921—Applicable Insurance Contracts Information Return. Description: To comply with IRC section 6050V, as added by the Pension Protection Act of 2006, an applicable exempt organization must file a Form VerDate Aug<31>2005 16:38 Feb 21, 2008 Jkt 214001 8921 for each structured transaction under which it makes reportable acquisitions of applicable insurance contracts. The information gathered will be used by the Treasury to issue a twoyear report to Congress. Respondents: Businesses or other forprofit institutions. Estimated Total Burden Hours: 1,796,500 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. E8–3305 Filed 2–21–08; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service [REG–209060–86] 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 final regulation, REG– 209060–86 (TD 8851), Return Requirement for United States Persons Acquiring or Disposing of an Interest in a Foreign Partnership, or Whose Proportional Interest in a Foreign Partnership Changes (§ 1.6046-A). DATES: Written comments should be received on or before April 22, 2008 to be assured of consideration. ADDRESSES: Direct all written comments to Glenn P. Kirkland, Internal Revenue Service, Room 6129, 1111 Constitution Avenue, NW., Washington, DC 20224. FOR FURTHER INFORMATION CONTACT: Requests for additional information or copies of this regulation should be directed to R. Joseph Durbala, (202) PO 00000 Frm 00101 Fmt 4703 Sfmt 4703 9857 622–3634, Internal Revenue Service, Room 6129, 1111 Constitution Avenue, NW., Washington, DC 20224, or through the Internet at RJoseph.Durbala@irs.gov. SUPPLEMENTARY INFORMATION: Title: Return Requirement for United States Persons Acquiring or Disposing of an Interest in a Foreign Partnership, or Whose Proportional Interest in a Foreign Partnership Changes. OMB Number: 1545–1646. Regulation Project Number: REG– 209060–86. Abstract: Section 6046A requires U.S. persons to provide certain information with respect to the acquisition or disposition of a 10-percent interest in, or a 10-percent change in ownership of, a foreign partnership. This regulation provides reporting rules to identify U.S. persons with significant interests in foreign partnerships to ensure the correct reporting of items with respect to these interests. 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, individuals or households and not-for-profit institutions. The burden is reflected in the burden of Form 8865. 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 E:\FR\FM\22FEN1.SGM 22FEN1 9858 Federal Register / Vol. 73, No. 36 / Friday, February 22, 2008 / Notices 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: February 13, 2008. Glenn P. Kirkland, IRS Reports Clearance Officer. [FR Doc. E8–3349 Filed 2–21–08; 8:45 am] SUPPLEMENTARY INFORMATION: BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service [REG–107069–97] Proposed Collection; Comment Request for Regulation Project Internal Revenue Service (IRS), Treasury. ACTION: Notice and request for comments. AGENCY: mstockstill on PROD1PC66 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 existing final regulation, REG–107069–97 (TD 8940), Purchase Price Allocations in Deemed and Actual Asset Acquisitions (§§ 1.338–2, 1.338–5, 1.338–10, 1/ 338(h)(10)–1, and 1.1060–1). DATES: Written comments should be received on or before April 22, 2008 to be assured of consideration. ADDRESSES: Direct all written comments to Glenn P. Kirkland, Internal Revenue Service, Room 6510, 1111 Constitution Avenue, NW., Washington, DC 20224. FOR FURTHER INFORMATION CONTACT: Requests for additional information or VerDate Aug<31>2005 16:38 Feb 21, 2008 Jkt 214001 copies of the regulations should be directed to R. Joseph Durbala, at Internal Revenue Service, Room 6129, 1111 Constitution Avenue, NW., Washington, DC 20224, or at (202) 622–3634, or through the Internet at RJoseph.Durbala@irs.gov. Title: Purchase Price Allocation in Deemed and Actual Asset Acquisition. OMB Number: 1545–1658. Regulation Project Number: REG– 107069–97. Abstract: Section 338 of the Internal Revenue Code provides rules under which a qualifying stock acquisition is treated as an asset acquisition (a ‘‘deemed asset acquisition’’) when an appropriate election is made. Section 1060 provides rules for the allocation of consideration when a trade or business is transferred. The collection of information is necessary to make the election, to calculate and collect the appropriate amount of tax liability when a qualifying stock acquisition is made, to determine the persons liable for such tax, and to determine the bases of assets acquired in the deemed asset acquisition. Current Actions: There are no changes to the paperwork burden previously approved by OMB. This document is being submitted for renewal purposes only. Type of Review: Extension of OMB approval. Affected Public: Business or other forprofit organizations, and farms. The regulation provides that a section 338 election is made by filing Form 8023. The burden for this requirement is reflected in the burden of Form 8023. The regulation also provides that both a seller and a purchaser must each file an asset acquisition statement on Form 8594. The burden for this requirement is reflected in the burden of Form 8594. The burden for the collection of information in § 1.338–2T(e)(4) is as follows: PO 00000 Frm 00102 Fmt 4703 Sfmt 4703 Estimated Number of Respondents/ Recordkeeper: 45. Estimated Average Annual Burden Per Respondent/Recordkeeper: 34 minutes. Estimated Total Annual Reporting/ Recordkeeping Hours: 25. 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: February 13, 2008. Glenn P. Kirkland, IRS Reports Clearance Officer. [FR Doc. E8–3351 Filed 2–21–08; 8:45 am] BILLING CODE 4830–01–P E:\FR\FM\22FEN1.SGM 22FEN1

Agencies

[Federal Register Volume 73, Number 36 (Friday, February 22, 2008)]
[Notices]
[Pages 9857-9858]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-3349]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

[REG-209060-86]


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 notice of final regulation, REG-209060-86 (TD 8851), Return 
Requirement for United States Persons Acquiring or Disposing of an 
Interest in a Foreign Partnership, or Whose Proportional Interest in a 
Foreign Partnership Changes (Sec.  1.6046-A).

DATES: Written comments should be received on or before April 22, 2008 
to be assured of consideration.

ADDRESSES: Direct all written comments to Glenn P. Kirkland, Internal 
Revenue Service, Room 6129, 1111 Constitution Avenue, NW., Washington, 
DC 20224.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of this regulation should be directed to R. Joseph Durbala, 
(202) 622-3634, Internal Revenue Service, Room 6129, 1111 Constitution 
Avenue, NW., Washington, DC 20224, or through the Internet at 
RJoseph.Durbala@irs.gov.

SUPPLEMENTARY INFORMATION:
    Title: Return Requirement for United States Persons Acquiring or 
Disposing of an Interest in a Foreign Partnership, or Whose 
Proportional Interest in a Foreign Partnership Changes.
    OMB Number: 1545-1646.
    Regulation Project Number: REG-209060-86.
    Abstract: Section 6046A requires U.S. persons to provide certain 
information with respect to the acquisition or disposition of a 10-
percent interest in, or a 10-percent change in ownership of, a foreign 
partnership. This regulation provides reporting rules to identify U.S. 
persons with significant interests in foreign partnerships to ensure 
the correct reporting of items with respect to these interests.
    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, 
individuals or households and not-for-profit institutions.
    The burden is reflected in the burden of Form 8865.
    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

[[Page 9858]]

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: February 13, 2008.
Glenn P. Kirkland,
IRS Reports Clearance Officer.
 [FR Doc. E8-3349 Filed 2-21-08; 8:45 am]
BILLING CODE 4830-01-P

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