Proposed Collection; Comment Request for Notice 102132-05, 19589-19590 [E8-7531]

Download as PDF mstockstill on PROD1PC66 with NOTICES Federal Register / Vol. 73, No. 70 / Thursday, April 10, 2008 / Notices 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: Split-Dollar Life Insurance Arrangements. OMB Number: 1545–1792. Regulation Project Number: REG– 164754–01 (Final). Abstract: The regulations relate to the income, employment, and gift taxation of split-dollar life insurance arrangements. The final regulations provide needed guidance to persons who enter into split-dollar life insurance arrangements. Current Actions: There is no change to this existing regulation. Type of Review: Extension of a currently approved collection. Affected Public: Not-for-profit institutions. Estimated Number of Respondents: 115,000. Estimated Time per Respondent: 17 minutes. Estimated Total Annual Burden Hours: 32,500. 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. VerDate Aug<31>2005 16:48 Apr 09, 2008 Jkt 214001 Approved: March 19, 2008. Glenn P. Kirkland, IRS Reports Clearance Officer. [FR Doc. E8–7530 Filed 4–9–08; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Notice 102132–05 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 Notice 102132–05, Domestic Reinvestment Plans and Other Guidance under Section 965. DATES: Written comments should be received on or before June 9, 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 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: Domestic Reinvestment and Other Guidance under Section 965. OMB Number: 1545–1926. Regulation Project Number: 102132– 05. Abstract: This document provides guidance under new section 965 enacted by the American Jobs Creation Act of 2004 (Pub. L. 108–357). In general, and subject to limitations and conditions, section 965(a) provides that a corporation that is a U.S. shareholder of a controlled foreign corporation (CFC) may elect, for one taxable year, an 85 percent dividends received deduction (DRD) with respect to certain cash dividends it receives from its CFCs. PO 00000 Frm 00136 Fmt 4703 Sfmt 4703 19589 Section 965(f) provides that taxpayers may elect the application of section 965 for either the taxpayer’s last taxable year which began before October 22, 2004, or the taxpayer’s first taxable year which began during the one-year period beginning on October 22, 2004. In general, a taxpayer elects to apply section 965 to a taxable year by filing Form 8895 with its timely-filed tax return (including extensions) for such taxable year. If however, a taxpayer files its tax return for the taxable year to which the taxpayer intends to elect section 965 to apply prior to the issuance of Form 8895, the election must be made on a statement that is attached to its timely-filed tax return (including extensions) for such taxable year. In addition, because the taxpayer must establish to the satisfaction of the Commissioner that it has satisfied the conditions to take the DRD, the taxpayer is required under this guidance to report specified information and provides specified documentation. Current Actions: There is no change to this existing regulation. Type of Review: Extension of currently approved collection. Affected Public: Business or other forprofit organizations. Estimated Number of Respondents: 25,000. Estimated Time per Respondent: 150 hours. Estimated Total Annual Burden Hours: 3,750,000. 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 E:\FR\FM\10APN1.SGM 10APN1 19590 Federal Register / Vol. 73, No. 70 / Thursday, April 10, 2008 / Notices 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: March 28, 2008. Glenn P. Kirkland, IRS Reports Clearance Officer. [FR Doc. E8–7531 Filed 4–9–08; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF VETERANS AFFAIRS DEPARTMENT OF DEFENSE Department of the Navy National Cemetery Administration; Record of Decision for the Annex to the Fort Rosecrans National Cemetery at Marine Corps Air Station Miramar, San Diego, CA National Cemetery Administration, DVA and Department of the Navy, DoD. ACTION: Notice of Record of Decision. mstockstill on PROD1PC66 with NOTICES AGENCY: SUMMARY: Pursuant to Section 102(2)(c) of the National Environmental Policy Act (NEPA) of 1969, 42 U.S.C. 4332(2)(c), and the regulations of the Council on Environmental Quality that implement NEPA procedures, 40 CFR Parts 1500–1508, the Department of Veterans Affairs, National Cemetery Administration (VA) and the Department of the Navy (DON) announce their decision to enter into a land use agreement for the construction and operation of an annex to the existing Fort Rosecrans National Cemetery at Marine Corps Air Station (MCAS) Miramar, in San Diego, California. The land use agreement between the DON and the VA will govern the construction and operation of the cemetery annex at MCAS Miramar at Site 2, the preferred alternative, as described in the Final Environmental Impact Statement (FEIS) of July 2007. FOR FURTHER INFORMATION CONTACT: Ms. Hiphil Clemente, Naval Facilities Engineering Command, Southwest, 1220 Pacific Highway, San Diego, California 92132–5190, telephone: 619–532–3781, e-mail hiphil.clemente@navy.mil. SUPPLEMENTARY INFORMATION: The VA operates the Fort Rosecrans National Cemetery, located on the Point Loma Submarine Base, San Diego, California. The VA identified a need for additional VerDate Aug<31>2005 16:48 Apr 09, 2008 Jkt 214001 burial space for the approximately 253,000 San Diego area military veterans over the next 20 to 30 years. The purpose of the proposed action is to meet the mission of the VA to provide burial space on federal land for military veterans in the San Diego area. Fort Rosecrans National Cemetery, the only national cemetery in San Diego County, has been closed to casketed burials since 1966. It is scheduled to be closed to burials of cremated remains by 2008 and has no additional land available for expansion. Alternatives Considered: A screening process, based upon criteria set out in the EIS, identified a reasonable range of alternatives that would satisfy the VA’s purpose and need while preserving the capabilities of DON to conduct military training. Two site alternatives and the no action alternative were analyzed in detail in the EIS. The preferred alternative, Site 2, is 323 acres in size and located in the northwest corner of MCAS Miramar. The development footprint for Site 2 is approximately 214 acres. The site is bounded by Miramar Road to the north, the commuter/freight railway to the south and east, and the western boundary of MCAS Miramar to the west. Vehicular access will be via Miramar Road to the north and Nobel Drive to the northwest. Based on the conceptual site plan, Site 2 will provide 50,000 casketed gravesites and 40,000 columbarium niches. As part of cemetery annex establishment, a Public Information Center and Visitor Orientation Facility will be constructed near the main entrance and cortege assembly area. It will consist of a combination building/covered plaza and will include a small visitor parking area separate from the cortege assembly area, and public restrooms and electronic gravesite locator for visitors. Two Committal Service Shelters will be provided for away-from-gravesite internment services. The cemetery annex will have a stand-alone flag area, designed and landscaped to maximize the attractiveness and dignity of the place. The area will include a flagpole, a turf assembly area for ceremonies and small gatherings, and a focal point that could be used by speakers. Separate Administrative and Maintenance Complexes will be constructed, including office and workspace for cemetery staff. The Maintenance Complex will include a 13,700-square feet maintenance yard to accommodate the unloading of a tractor-trailer truck. The cemetery annex will include parking for visitors and staff, signage, benches, recycling and trash receptacles, and flower containers. With PO 00000 Frm 00137 Fmt 4703 Sfmt 4703 the selection of the Site 2 Alternative, master planning and design of the new cemetery annex will take place. The facilities and burial sites to be developed will stay within the project footprint identified in the Final EIS. The Site 4 Alternative is located in the south-central portion of MCAS Miramar in the former Camp Elliott area and is approximately 175 acres. The site is completely surrounded by limitedaccess highways with State Route 163 to the west, State Route 52 to the south, and Interstate 15 to the east. Kearny Villa Road traverses the site in a northsouth direction. The Site 4 Alternative would be developed similar to the Site 2 Alternative. The maximum number of casketed gravesites would be 31,000 and 26,000 columbarium niches for cremated remains. Under the no action alternative, there would be no land use agreement between the DON and the VA for the construction and operation of an annex to Fort Rosecrans National Cemetery. The no action alternative is the environmentally preferred alternative because it does not involve any change to the physical environment. However, this alternative does not meet the purpose and need of the Proposed Action to provide needed burial space on federal land for military veterans in the San Diego area. Other alternatives were considered, but dismissed as not being practicable. These include 2 other sites on MCAS Miramar, other Federal lands in the San Diego area, and purchase of land by the VA for the cemetery annex. Environmental Impacts: The VA and the DON prepared an EIS to evaluate the potential environmental impacts associated with the implementation of each of the alternatives for the following resource areas: Land use; socioeconomics/environmental justice; utilities; public services; visual resources; cultural resources; biological resources; soils and geology; water resources; public health and safety; traffic/circulation; air quality; and noise. Chapter 4 of the FEIS provides a detailed discussion of impacts and mitigation measures. The preferred alternative, Site 2, presents no significant impacts to land use, socioeconomics/environmental justice, utilities, public services, visual resources, cultural resources, soils and geology, water resources, public health and safety, traffic/circulation; and air quality; thus no mitigation measures are offered for those resources. Implementation of the preferred alternative will result in impacts to biological resources and land use E:\FR\FM\10APN1.SGM 10APN1

Agencies

[Federal Register Volume 73, Number 70 (Thursday, April 10, 2008)]
[Notices]
[Pages 19589-19590]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-7531]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Notice 102132-05

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 
Notice 102132-05, Domestic Reinvestment Plans and Other Guidance under 
Section 965.

DATES: Written comments should be received on or before June 9, 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 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: Domestic Reinvestment and Other Guidance under Section 965.
    OMB Number: 1545-1926.
    Regulation Project Number: 102132-05.
    Abstract: This document provides guidance under new section 965 
enacted by the American Jobs Creation Act of 2004 (Pub. L. 108-357). In 
general, and subject to limitations and conditions, section 965(a) 
provides that a corporation that is a U.S. shareholder of a controlled 
foreign corporation (CFC) may elect, for one taxable year, an 85 
percent dividends received deduction (DRD) with respect to certain cash 
dividends it receives from its CFCs. Section 965(f) provides that 
taxpayers may elect the application of section 965 for either the 
taxpayer's last taxable year which began before October 22, 2004, or 
the taxpayer's first taxable year which began during the one-year 
period beginning on October 22, 2004. In general, a taxpayer elects to 
apply section 965 to a taxable year by filing Form 8895 with its 
timely-filed tax return (including extensions) for such taxable year. 
If however, a taxpayer files its tax return for the taxable year to 
which the taxpayer intends to elect section 965 to apply prior to the 
issuance of Form 8895, the election must be made on a statement that is 
attached to its timely-filed tax return (including extensions) for such 
taxable year. In addition, because the taxpayer must establish to the 
satisfaction of the Commissioner that it has satisfied the conditions 
to take the DRD, the taxpayer is required under this guidance to report 
specified information and provides specified documentation.
    Current Actions: There is no change to this existing regulation.
    Type of Review: Extension of currently approved collection.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents: 25,000.
    Estimated Time per Respondent: 150 hours.
    Estimated Total Annual Burden Hours: 3,750,000.
    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

[[Page 19590]]

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: March 28, 2008.
Glenn P. Kirkland,
IRS Reports Clearance Officer.
 [FR Doc. E8-7531 Filed 4-9-08; 8:45 am]
BILLING CODE 4830-01-P

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