Proposed Collection; Comment Request for Regulation Project, 12251-12252 [E8-4273]
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Federal Register / Vol. 73, No. 45 / Thursday, March 6, 2008 / Notices
Crimes Enforcement Network,
Department of the Treasury, P.O. Box
39, Vienna, Virginia 22183, Attention:
PRA Comments—Designation of Exempt
Person (DOEP), FinCEN Form 110.
Comments also may be submitted by
electronic mail to the following Internet
address: regcomments@fincen.gov, again
with a caption in the body of the text,
‘‘Attention: PRA Comments—
Designation of Exempt Person (DOEP),
FinCEN Form 110’’.
Inspection of comments: Comments
may be inspected, between 10 a.m. and
4 p.m., in the FinCEN reading room in
Vienna, VA. Persons wishing to inspect
the comments submitted must request
an appointment with the Disclosure
Officer by telephoning (703) 905–5034
(Not a toll free call).
FOR FURTHER INFORMATION CONTACT: The
FinCEN Regulatory helpline at (800)
949–2732 and select Option 3.
SUPPLEMENTARY INFORMATION: Pursuant
to the Paperwork Reduction Act of 1995,
Public Law 104–13 (44 U.S.C.
3506(c)(2)(A)), FinCEN is soliciting
comments on the collection of
information described below.
Title: Designation of Exempt Person.
OMB Number: 1506–0012.
Form Number: FinCEN Form 110.
Abstract: The Bank Secrecy Act,
Titles I and II of Public Law 91–508, as
amended, codified at 12 U.S.C. 1829b,
12 U.S.C. 1951–1959, and 31 U.S.C.
5311–5314; 5316–5332, authorizes the
Secretary of the Treasury, among other
things, to issue regulations requiring
records and reports that are determined
to have a high degree of usefulness in
criminal, tax, and regulatory matters.
Regulations implementing Title II of the
Bank Secrecy Act (codified at 31 U.S.C.
5311–5314; 5316–5332) appear at 31
CFR part 103.
The authority of the Secretary to
administer Title II of the Bank Secrecy
Act has been delegated to the Director
of FinCEN.
The reporting by financial institutions
of transactions in currency in excess of
$10,000 has long been a major
component of the Treasury’s
implementation of the Bank Secrecy
Act. The reporting requirement is
imposed by 31 CFR 103.22, a rule issued
under the broad authority granted to the
Secretary of the Treasury by 31 U.S.C.
5313(a) to require reports of domestic
coins and currency transactions.
The Money Laundering Suppression
Act of 1994, Title IV of the Riegle
Community Development and
Regulatory Improvement Act (Pub. L.
103–325) amended 31 U.S.C. 5313. The
statutory amendments mandate
exemptions from currency transaction
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reporting in the case of customers that
are other banks, certain governmental
entities, or businesses for which
reporting would serve little or no law
enforcement purpose. The amendments
also authorize Treasury to exempt
certain other businesses.
On September 8, 1997, and September
30, 1998, Treasury issued final rules
regarding these statutory amendments
(62 FR 47141 and 63 FR 50147,
respectively). The final rules reform and
simplify the process by which banks
may exempt eligible customers. The
final rules, as further amended by 65 FR
46356, are set forth at 31 CFR 103.22(d).
Under the simplified exemption rules,
a key requirement is a ‘‘designation’’
sent to the Treasury indicating that a
customer will be treated by the bank as
an exempt person, so that no further
currency transaction reports will be
filed on the customer’s cash transactions
exceeding $10,000. As part of the
simplification process, Treasury
previously issued a form specifically for
making that designation. The
information collected on the form,
Designation of Exempt Person, FinCEN
Form 110, is required to exempt bank
customers from currency transaction
reporting. The information is used to
help determine whether a bank has
properly exempted its customers. The
collection of information is mandatory.
Current Actions: There are no
proposed changes to the current DOEP,
FinCEN Form 110.
The form is available on the FinCEN
website at: https://www.fincen.gov/
forms/fin110_dep.pdf.
Type of Review: Renewal without
change of a currently approved
collection.
Affected Public: Business or other forprofit institutions.
Frequency: As required.
Estimated Number of Respondents:
19,000.
Estimated Total Annual Responses:
65,000.
Estimated Total Annual Burden
Hours: 97,500 hours. (Reporting average
of 30 minutes per response;
recordkeeping average of 1 hour per
response).
Request for Comments: Comments
submitted in response to this notice will
be summarized and/or included in the
request for Office of Management and
Budget approval. All comments will
become a matter of public record.
Comments are invited on: (1) Whether
the collection of information is
necessary for the proper performance of
the agency, including whether the
information shall have practical utility;
(b) the accuracy of the agency’s estimate
of the burden collection of information;
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12251
(c) ways to enhance 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.
Dated: February 26, 2008.
James H. Freis, Jr.,
Director, Financial Crimes Enforcement
Network.
[FR Doc. E8–4290 Filed 3–5–08; 8:45 am]
BILLING CODE 4810–02–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
[REG–102144–04]
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 final regulation, REG–102144–
04 (TD 9315), Dual Consolidated Losses
and NOT–138529–05, Announcement of
Rules Adopting Reasonable Cause
Standard for Section 1503(d) Filings.
DATES: Written comments should be
received on or before May 5, 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 the regulation should be
directed to Carolyn N. Brown, (202)
622–6688, Internal Revenue Service,
room 6129, 1111 Constitution Avenue,
NW., Washington, DC 20224, or through
the internet at Carolyn.N.Brown@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: (Final) Dual Consolidated
Losses.
OMB Number: 1545–1946.
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12252
Federal Register / Vol. 73, No. 45 / Thursday, March 6, 2008 / Notices
Regulation Project Number: REG–
102144–04/NOT–2006–13.
Abstract: Section 1503(d) denies the
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 a foreign country. These final
regulations address various dual
consolidated loss issues, including
exceptions to the general prohibition
against using a dual consolidated loss to
reduce the taxable income of any other
member of the affiliated group.
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:
1,780.
Estimated Time per Respondent: 1
hour, 32 minutes.
Estimated Total Annual Burden
Hours: 2,740.
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.
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16:57 Mar 05, 2008
Jkt 214001
Approved: February 22, 2008.
Glenn P. Kirkland,
IRS Reports Clearance Officer.
[FR Doc. E8–4273 Filed 3–5–08; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
[LR–115–72]
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 final regulation, LR–115–72 (TD
8043), Manufacturers Excise Taxes on
Sporting Goods and Firearms and Other
Administrative Provisions of Special
Application to Manufacturers and
Retailers Excise Taxes (§§ 48.4161,
48.6416, 48.6420, 48.6421, 48.6424, and
48.6427).
DATES: Written comments should be
received on or before May 5, 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 the regulation should be
directed to Carolyn N. Brown, (202)
622–6688, Internal Revenue Service,
room 6129, 1111 Constitution Avenue,
NW., Washington, DC 20224, or through
the internet at Carolyn.N.Brown@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Manufacturers Excise Taxes on
Sporting Goods and Firearms and Other
Administrative Provisions of Special
Application to Manufacturers and
Retailers Excise Taxes.
OMB Number: 1545–0723.
Regulation Project Number: LR–115–
72.
Abstract: Chapters 31 and 32 of the
Internal Revenue Code impose excise
taxes on the sale or use of certain
articles. Code section 6416 allows a
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credit or refund of the tax to
manufacturers in certain cases. Code
sections 6420, 6421, and 6427 allow
credits or refunds of the tax to certain
users of the articles. This regulation
contains reporting and recordkeeping
requirements that enable the IRS and
taxpayers to verify that the proper
amount of tax is reported or excluded.
Current Actions: There is no change to
this existing regulation.
Type of Review: Extension of a
currently approved collection.
Affected Public: Individuals, business
or other for-profit organizations, not-forprofit institutions, farms, and state,
local, or tribal governments.
Estimated Number of Respondents:
1,500,000.
Estimated Time per Respondent: 19
minutes.
Estimated Total Annual Burden
Hours: 475,000.
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 22, 2008.
Glenn P. Kirkland,
IRS Reports Clearance Officer.
[FR Doc. E8–4274 Filed 3–5–08; 8:45 am]
BILLING CODE 4830–01–P
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]]>Agencies
[Federal Register Volume 73, Number 45 (Thursday, March 6, 2008)]
[Notices]
[Pages 12251-12252]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-4273]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
[REG-102144-04]
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-102144-04 (TD 9315), Dual Consolidated
Losses and NOT-138529-05, Announcement of Rules Adopting Reasonable
Cause Standard for Section 1503(d) Filings.
DATES: Written comments should be received on or before May 5, 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 the regulation should be directed to Carolyn N. Brown, (202)
622-6688, Internal Revenue Service, room 6129, 1111 Constitution
Avenue, NW., Washington, DC 20224, or through the internet at
Carolyn.N.Brown@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: (Final) Dual Consolidated Losses.
OMB Number: 1545-1946.
[[Page 12252]]
Regulation Project Number: REG-102144-04/NOT-2006-13.
Abstract: Section 1503(d) denies the 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 a foreign
country. These final regulations address various dual consolidated loss
issues, including exceptions to the general prohibition against using a
dual consolidated loss to reduce the taxable income of any other member
of the affiliated group.
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: 1,780.
Estimated Time per Respondent: 1 hour, 32 minutes.
Estimated Total Annual Burden Hours: 2,740.
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 22, 2008.
Glenn P. Kirkland,
IRS Reports Clearance Officer.
[FR Doc. E8-4273 Filed 3-5-08; 8:45 am]
BILLING CODE 4830-01-P
