Submission for OMB Review; Comment Request, 50667-50671 [E8-19809]
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Federal Register / Vol. 73, No. 167 / Wednesday, August 27, 2008 / Notices
Pennsylvania Avenue, NW. Washington,
DC 20220.
DATES: Written comments should be
received on or before September 26,
2008 to be assured of consideration.
Office of Foreign Assets Control
OMB Number: 1505–0168.
Type of Review: Extension.
Title: Travel Service Provider and
Carrier Service Provider Submission
Description: Submissions will provide
the U.S. Government with information
to be used in enforcing various
economic sanctions programs
administered by OFAC under 31 CFR
Chapter V.
Respondents: Businesses and other
for-profit institutions.
Estimated Total Reporting Burden:
19,000 hours.
OMB Number: 1505–0202.
Type of Review: Extension.
Title: Request for a Specific License to
Visit an Immediate Family Member.
Forms: TD-F–90–22.60, TD-F–90–
22.60 (SP).
Description: Submissions will provide
the U.S. Government with information
to be used in enforcing the limitations
on Cuba travel-related transactions
incident to visiting immediate family
members by persons subject to U.S.
jurisdiction.
Respondents: Individuals or
households.
Estimated Total Reporting Burden:
5,833 hours.
Clearance Officer: Office of Foreign
Assets Control, (202) 622–0596, Office
of the Chief Counsel, Room 2176
Treasury Annex, Washington, DC
20220.
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. E8–19808 Filed 8–26–08; 8:45 am]
BILLING CODE 4810–25–P
DEPARTMENT OF THE TREASURY
Submission for OMB Review;
Comment Request
sroberts on PROD1PC70 with NOTICES
August 21, 2008.
The Department of 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
VerDate Aug<31>2005
18:52 Aug 26, 2008
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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, and 1750
Pennsylvania Avenue, NW.,
Washington, DC 20220.
Dates: Written comments should be
received on or before September 26,
2008 to be assured of consideration.
Internal Revenue Service (IRS)
OMB Number: 1545–0001.
Type of Review: Extension.
Title: Employer’s Annual Railroad
Retirement Tax Return.
Forms: CT–1.
Description: Railroad employers are
required to file an annual return to
report employer and employee Railroad
Retirement Tax Act (RRTA). Form CT–
1 is used for this purpose. IRS uses the
information to insure that the employer
has paid the correct tax.
Respondents: Businesses or other forprofit institutions.
Estimated Total Burden Hours: 46,359
hours.
OMB Number: 1545–0058.
Type of Review: Extension.
Title: Application for Recognition of
Exemption Under Section 521 of the
Internal Revenue Code.
Form: 1028.
Description: Farmers’ cooperatives
must file Form 1028 to apply for
exemption from Federal income tax as
being organizations described in IRC
section 521. The information on Form
1028 provides the basis for determining
whether the applicants are exempt.
Respondents: Businesses and other
for-profit institutions, farms.
Estimated Total Burden Hours: 2,545
hours.
OMB Number: 1545–1794.
Type of Review: Extension.
Title: Compensatory Stock Options
Under Section 482.
Description: The information will be
used to determine whether the
participants in a qualified cost sharing
arrangement are sharing stock-based
compensation costs attributable to the
intangible development area in
proportion to reasonably anticipated
benefits as required by the proposed
amendment to the cost sharing
regulations.
Respondents: Businesses or other forprofit institutions.
Estimated Total Burden Hours: 2,000
hours.
OMB Number: 1545–1269.
Type of Review: Extension.
Title: PS–7–90 (Final) Nuclear
Decommissioning Fund Qualification
Requirements.
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Description: If a taxpayer requests, in
connection with a request for a schedule
of ruling amounts, a ruling as to the
classification of certain unincorporated
organizations, the taxpayer is required
to submit a copy of the documents
establishing or governing the
organization.
Respondents: Businesses and other
for-profit institutions.
Estimated Total Burden Hours: 150
hours.
OMB Number: 1545–1762.
Type of Review: Extension.
Title: Direct Deposit of Corporate Tax
Refund.
Form: 8050.
Description: This form is used to
request a deposit of a tax refund directly
into an account at any U.S. bank or
other financial institution.
Respondents: Businesses and other
for-profit institutions.
Estimated Total Burden Hours:
348,600 hours.
OMB Number: 1545–1407.
Type of Review: Extension.
Title: Consent To Extend the Time To
Assess the Branch Profits Tax Under
Regulations Sections 1.884–2(a) and (c).
Form: 8848.
Description: Form 8848 is used by
foreign corporations that have (a)
completely terminated all of their U.S.
trade or business within the meaning of
Temporary Regulations section 1.884–
2T(a) during the tax year or (b)
transferred their U.S. assets to a
domestic corporation in a transaction
described in Code section 381(a), if the
foreign corporation was engaged in a
U.S. trade or business at that time.
Respondents: Businesses and other
for-profit institutions.
Estimated Total Burden Hours: 22,500
hours.
OMB Number: 1545–1922.
Type of Review: Extension.
Title: Survey Questionnaire.
Form: 12884.
Description: Form 12884 is used to
collect statistical information regarding
advertising sources and RNO data.
Respondents: Individuals or
households.
Estimated Total Burden Hours: 2,757
hours.
OMB Number: 1545–1776.
Type of Review: Extension.
Title: U.S. Income Tax Return for
Electing Alaska Native Settlement
Trusts.
Form: 1041–N.
Description: An Alaska Native
Settlement Trust (ANST) may elect
under section 646 to have the special
income tax treatment of that section
apply to the trust and its beneficiaries.
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Federal Register / Vol. 73, No. 167 / Wednesday, August 27, 2008 / Notices
This one-time election is made by filing
Form 1041–N and the form is used by
the ANST to report its income, etc., and
to compute and pay any income tax.
Form 1041–N is also used for the special
information reporting requirements that
apply to ANSTs.
Respondents: Businesses or other forprofit institutions.
Estimated Total Burden Hours: 680
hours.
OMB Number: 1545–1767.
Type of Review: Extension.
Title: REG–107644–98 (Final) DollarValue LIFO Regulations; Inventory Price
Index Computation Method.
Description: The primary reason for
obtaining this information is to ensure
compliance by taxpayers electing to use
both the LIFO inventory method and the
IPIC method of accounting for their
dollar-value inventory pools. Most
respondents will be manufacturers,
wholesalers, and retailers of tangible
personal property.
Respondents: Businesses or other forprofit institutions.
Estimated Total Burden Hours: 1
hour.
OMB Number: 1545–1768.
Type of Review: Extension.
Title: Revenue Procedure 2003–84,
Optional Election to Make Monthly Sec.
706 Allocations.
Description: This revenue procedure
allows certain partnerships with money
market fund partners to make an
optional election to close the
partnership’s books on a monthly basis
with respect to the money market fund
partners.
Respondents: Businesses or other forprofit institutions.
Estimated Total Burden Hours: 500
hours.
OMB Number: 1545–1204.
Type of Review: Revision.
Title: Low-Income Housing Credit
Agencies Report of Noncompliance or
Building Disposition.
Form: 8823.
Description: Form 8823 is used by
housing agencies to report
noncompliance with the low-income
housing provisions of Code section 42.
Respondents: State, local, or tribal
governments.
Estimated Total Burden Hours:
372,200 hours.
OMB Number: 1545–1783.
Type of Review: Extension.
Title: TD 8989 (final) Guidance
Necessary to Facilitate Electronic Tax
Administration.
Description: The regulations provide a
regulatory statement of IRS authority to
prescribe what return information or
documentation must be filed with a
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return, statement or other document
required to be made under any
provision of the internal revenue laws
or regulations. In addition, the
regulations eliminate regulatory
impediments to electronic filing of Form
1040.
Respondents: Individuals or
households.
Estimated Total Burden Hours: 1
hours.
OMB Number: 1545–0256.
Type of Review: Extension.
Title: Supporting Statement to Correct
Information (Form 941c); Planilla Para
La Correccion de Informacion (Form
941cPR).
Form: 941C.
Description: This form is used by
employers to correct previously
reported FICA or income tax data. It
may be used to support a credit or
adjustment claimed on a current return
for an error in a prior return period. The
information is used to reconcile wages
and taxes previously reported or used to
support a claim for refund, credit, or
adjustment of FICA or income tax.
Respondents: Businesses and other
for-profit institutions.
Estimated Total Burden Hours:
9,442,616 hours.
OMB Number: 1545–1493.
Type of Review: Extension.
Title: PS–7–89 (Final) Treatment of
Gain From the Disposition of Interest in
Certain Natural Resource Recapture
Property by S Corporations and Their
Shareholders.
Description: The regulation prescribes
rules under section 1254 relating to the
treatment by S corporations and their
shareholders of gain from the
disposition of natural resource recapture
property and from the sale or exchange
of S corporation stock. Shareholders
that sell or exchange stock may submit
a statement to rebut presumption of gain
treatment.
Respondents: Businesses and other
for-profit institutions.
Estimated Total Burden Hours: 1,000
hours.
OMB Number: 1545–1646.
Type of Review: Extension.
Title: REG–209060–86 Final, Return
Requirement for United States Persons
who acquire or dispose of an interest in
a foreign partnership, or whose
proportional interest in a foreign
partnership changes.
Description: Section 6046A requires
U.S. persons to provide certain
information with respect to the
acquisition or disposition of a 10percent change in ownership of a
foreign partnership. This regulation
provides reporting rules to identify U.S.
persons with respect to these interests.
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Respondents: Businesses and other
for-profit institutions.
Estimated Total Burden Hours: 1
hour.
OMB Number: 1545–1920.
Type of Review: Revision.
Title: Notice Regarding Repayment of
a Buyout Prior to Re-employment with
the Federal Government.
Form: 1311.
Description: Form 12311 is used to
identify former Federal Employees who
received a buyout within the past 5
years and are requesting re-employment.
Respondents: Individuals or
households.
Estimated Total Burden Hours: 2,757
hours.
OMB Number: 1545–1926.
Type of Review: Extension.
Title: Notice 2005–10, Domestic
Reinvestment Plans and Other Guidance
under Section 965 (NOT–102132–05).
Description: 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 CFC’s.
Section 965(f) provides that taxpayers
may elect the application of section 965
for either the taxpayer’s last taxable year
which begins before October 22, 2004,
or the taxpayer’s first 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 provide
specified documentation.
Respondents: Businesses or other forprofit institutions.
Estimated Total Burden Hours:
3,750,000 hours.
OMB Number: 1545–1924.
Type of Review: Extension.
Title: Biodiesel Fuels Credit.
Forms: 8864.
Description: IRC section 40A provides
a credit for biodiesel or qualified
biodiesel mixtures. IRC section 38(b)(17)
allows a nonrefundable income tax
credit for businesses that sell or use
biodiesel. Form 8864 is used to figure
the credits.
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Respondents: Businesses or other forprofit institutions.
Estimated Total Burden Hours: 310
hours.
OMB Number: 1545–1759.
Type of Review: Extension.
Title: Amended Quarterly Federal
Excise Tax Return.
Form: 720X.
Description: Representatives of the
motor fuel industry, state governments,
and the Federal government are working
to ensure compliance with excise taxes
on motor fuels. This joint effort has
resulted in a system to track the
movement of all product to and from
terminals. Form 720–TO is an
information return that will be used by
terminal operators to report their
monthly receipts and disbursements of
products.
Respondents: Businesses and other
for-profit institutions.
Estimated Total Burden Hours:
152,460 hours.
OMB Number: 1545–1658.
Type of Review: Extension.
Title: REG–107069–97 (Final)
Purchase Price Allocations in Deemed
Actual Asset Acquisitions.
Description: Section 338 of the
Internal Revenue Code provides rules
under which a qualifying stock
acquisition is treated as an asset
acquisition (as ‘‘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 person liable for such tax
and to determine the bases of assets
acquired in the deemed asset
acquisition.
Respondents: Businesses or other forprofit institutions.
Estimated Total Burden Hours: 25
hours.
OMB Number: 1545–1435.
Type of Review: Extension.
Title: TD 8706 (Final) Electronic
Filing of Form W–4.
Description: Information is required
by the Internal Revenue Service to
verify compliance with section
31.3402(f)(5)–1, which authorizes
employers to establish electronic
systems for use by employees in filing
their withholding exemption
certificates. The affected respondents
are employers that choose to make
electronic filing of Forms W–4 available
to their employees.
Respondents: Businesses and other
for-profit institutions.
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Estimated Total Burden Hours: 40,000
hours.
OMB Number: 1545–1649.
Type of Review: Extension.
Title: Rev. Proc. 99–21 Disability
Suspension.
Description: The information is
needed to establish a claim that a
taxpayer was financially disabled for
purposes of section 6511(h) of the
Internal Revenue Code (which was
added by section 3203 of the Internal
Revenue Service Restructuring and
Reform Act of 1998). Under section
6511(h), the statute of limitations on
claims for credit or refund is suspended
for any period of an individual
taxpayer’s life during which the
taxpayer is unable to manage his or her
financial affairs because of a medically
determinable mental or physical
impairment, if the impairment can be
expected to result in death, or has lasted
(or can be expected to last) for a
continuous period of not less than 12
months. Section 6511(h)(2)(A) requires
that proof of the taxpayer’s financial
disability be furnished to the Internal
Revenue Service.
Respondents: Individuals or
households.
Estimated Total Burden Hours: 24,100
hours.
OMB Number: 1545–1100.
Type of Review: Extension.
Title: REG–209106–89 (formerly EE–
84–89)(NPRM) Changes With Respect to
Prizes and Awards and Employee
Achievement Awards.
Form: 8848.
Description: This regulation requires
recipients of prizes and awards to
maintain records to determine whether
a qualifying designation has been made.
The affected public are prize and award
recipients who seek to exclude the cost
of a qualifying prize or award.
Respondents: Individuals or
households.
Estimated Total Burden Hours: 1,275
hours.
OMB Number: 1545–1638.
Type of Review: Extension.
Title: Small Business Tax Product
Order Blank For IRS Designated
Partners.
Form: 12196.
Description: Form 12196 is to be used
by small business outlets to order IRS
tax forms and publications. The form
can be faxed directly to the IRS Area
Distribution Center for order fulfillment,
packaging and mailing.
Respondents: Businesses and other
for-profit institutions.
Estimated Total Burden Hours: 42
hours.
OMB Number: 1545–1773.
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Type of Review: Extension.
Title: Revenue Procedure 2002–23,
Taxation of Canadian Retirement Plans
Under U.S.—Canada Income Tax Treaty.
Description: This Revenue Procedure
provides guidance for the application by
U.S. citizens and residents of the U.S.—
Canada Income Tax Treaty, as amended
by the 1995 protocol, in order to defer
U.S. Income taxes on income accrued in
certain Canadian retirement plans.
Respondents: Individuals or
households.
Estimated Total Burden Hours: 10,000
hours.
OMB Number: 1545–0003.
Type of Review: Extension.
Title: SS–4, Application for Employer
Identification Number; SS–4PR,
Solicitud de Numero de Identificacion
Patronal (EIN).
Form: SS–4.
Description: Taxpayers required to
have an identification number for use
on any return, statement, or other
document must prepare and file Form
SS–4 of Form SS–4PR (Puerto Rico
only) to obtain a number. The
information is used by the IRS and the
SSA in tax administration and by the
Bureau of the Census for business
statistics.
Respondents: Businesses or other forprofit institutions.
Estimated Total Burden Hours:
15,941,913 hours.
OMB Number: 1545–1486.
Type of Review: Extension.
Title: REG–209793–95 (Final)
Simplification of Entity Classification
Rules.
Description: These rules allow certain
unincorporated business organizations
to elect to be treated as corporations or
partnerships for federal tax purposes.
The information collected on the
election will be used to verify the
classification of electing organizations.
Respondents: Businesses or other forprofit institutions.
Estimated Total Burden Hours: 1
hour.
OMB Number: 1545–1919.
Type of Review: Extension.
Title: Prior Government Service
Information.
Form: 12854.
Description: Form 12854 is used to
record prior government service,
annuitant information, and advice on
probationary periods.
Respondents: Individuals or
households.
Estimated Total Burden Hours: 6,203
hours.
OMB Number: 1545–0152.
Type of Review: Revision.
Title: Application for Change in
Accounting Method.
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Form: 3115.
Description: Form 3115 is used by
taxpayers who wish to change their
method of computing their taxable
income. The form is used by the IRS to
determine if electing taxpayers have met
the requirements and are able to change
to the method requested.
Respondents: Individuals or
households.
Estimated Total Burden Hours:
929,066 hours.
OMB Number: 1545–0024.
Type of Review: Revision.
Title: Claim for Refund and Request
for Abatement.
Form: 843.
Description: IRC section 6402, 6404,
and sections 301.6404–2, and 301.6404–
3 of the regulations allow for refunds of
taxes (except income taxes) or refund,
abatement, or credit of interest,
penalties, and additions to tax in the
event of errors or certain action by the
IRS. Form 843 is used by taxpayers to
claim these refunds, credits, or
abatements.
Respondents: Individuals or
households.
Estimated Total Burden Hours:
850,980 hours.
OMB Number: 1545–0284.
Type of Review: Extension.
Title: Application for Determination
of Employee Stock Ownership Plan.
Form: 5309.
Description: Form 5309 is used in
conjunction with Form 5300 or Form
5303 when applying for a determination
letter as to a deferred compensation
plan’s qualification status under section
409 or 4975(e)(7) of the Internal
Revenue Code. The information is used
to determine whether the plan qualifies.
Respondents: Businesses and other
for-profit institutions.
Estimated Total Burden Hours: 5,300
hours.
OMB Number: 1545–1491.
Type of Review: Extension.
Title: REG–209798–95 (Final)
Amortizable Bond Premium.
Description: The information
requested is necessary for the Service to
determine whether a holder of a bond
has elected to amortize bond premium
and to determine whether an issuer or
a holder has changed its method of
accounting for premium.
Respondents: Businesses and other
for-profit institutions.
Estimated Total Burden Hours: 7,500
hours.
OMB Number: 1545–1641.
Type of Review: Extension.
Title: Rev. Proc. 99–17 Mark to Market
Election for Commodities Dealers and
Securities and Commodities Traders.
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Description: The revenue procedure
prescribes the time and manner for
dealers in commodities and traders in
securities or commodities to elect to use
the mark-to-market method of
accounting under Sec. 475(e) or (f) of
the Internal Revenue Code. The
collections of information in sections 5
and 6 of this revenue procedure are
required by the IRS in order to facilitate
monitoring taxpayers changing
accounting methods resulting from
making the elections under Sec. 475(e)
or (f).
Respondents: Individuals or
households.
Estimated Total Burden Hours: 500
hours.
OMB Number: 1545–1581.
Type of Review: Extension.
Title: Continuation Coverage
Requirements Applicable to Group
Health Plans—Final (REG–209485–86).
Description: The statute and the
regulations require group health plans
to provide notices to individuals who
are entitled to elect COBRA
continuation coverage of their election
rights. Individuals who wish to obtain
the benefits provided under the statute
are required to provide plans notices in
the cases of divorce from the covered
employee, a dependent child’s ceasing
to be a dependent under the terms of the
plan, and disability. Most plans will
require that elections of COBRA
continuation coverage be made in
writing. In cases where qualified
beneficiaries are short by an
insignificant amount in a payment made
to the plan, the regulations require the
plan to notify the qualified beneficiary
if the plan does not wish to treat the
tendered payment as full payment. If a
health care provider contacts a plan to
confirm coverage of a qualified
beneficiary, the regulations require that
the plan disclose the qualified
beneficiary’s complete rights to
coverage.
Respondents: Businesses or other forprofit institutions.
Estimated Total Burden Hours:
404,640 hours.
OMB Number: 1545–1643.
Type of Review: Extension.
Title: REG–209484–87 (Final) Federal
Insurance Contributions Act (FICA)
Taxation of Amounts Under Employee
Benefit Plans.
Description: This regulation provides
guidance as to when amounts deferred
under or paid from a nonqualified
deferred compensation plan are taken
into account as wages for purposes of
the employment taxes imposed by the
Federal Insurance Contributions Act
(FICA). Section 31.3121(v)(2)–1(a)(2)
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requires that the material terms of a plan
be set forth in writing.
Respondents: Businesses and other
for-profit institutions.
Estimated Total Burden Hours: 12,500
hours.
OMB Number: 1545–1409.
Type of Review: Extension.
Title: Application for Determination
of Employee Stock Ownership Plan.
Form: 8842.
Description: Form 8842 is used by
corporations (including S corporations),
tax-exempt organizations subject to the
unrelated business income tax, and
private foundations to annually elect the
use of an annualization period in
section 6655(e)(2)(c)(i) or (ii) for
purpose of figuring the corporation’s
estimated tax payments under the
annualized income installment method.
Respondents: Businesses and other
for-profit institutions.
Estimated Total Burden Hours: 4,335
hours.
OMB Number: 1545–1765.
Type of Review: Extension.
Title: REG–119436–01 Final (TD
9171) New Markets Tax Credit.
Description: The regulations provide
guidance for taxpayers claiming the new
markets tax credit under section 45D of
the Internal Revenue Code. The
reporting requirements in the
regulations require a qualified
community development entity (CDE) to
provide written notice to: (1) Any
taxpayer who acquires an equity
investment in the CDE at its original
issue that the equity investment is a
qualified equity investment entitling the
taxpayer to claim the new markets tax
credits; and (2) each holder of a
qualified equity investment, including
all prior holders of that investment that
a recapture event has occurred. CDE’s
must comply with such reporting
requirements to the Secretary as the
Secretary may prescribe.
Respondents: Businesses and other
for-profit institutions.
Estimated Total Burden Hours: 210
hours.
OMB Number: 1545–0216.
Type of Review: Revision.
Title: International Boycott Report.
Form: 5713.
Description: Form 5713 and related
Schedules A, B, and C are used by any
entity that has operations in a
‘‘boycotting’’ country. If that entity
cooperates with or participates in an
international boycott it loses a portion
of the foreign tax credit, or deferral of
FSC and IC–DISC benefits. The IRS uses
Form 5713 to determine if any of the
above benefits should be lost. The
information is also used as the basis for
a report to the Congress.
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Respondents: Businesses or other forprofit institutions.
Estimated Total Burden Hours: 69,495
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. E8–19809 Filed 8–26–08; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Submission for OMB Review;
Comment Request
August 20, 2008.
The Department of 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, and 1750
Pennsylvania Avenue, NW.,
Washington, DC 20220.
DATES: Written comments should be
received on or before September 26,
2008 to be assured of consideration.
sroberts on PROD1PC70 with NOTICES
Internal Revenue Service (IRS)
OMB Number: 1545–1946.
Type of Review: Extension (correction
to notice published July 29, 2008, 73 FR
43976. Comments on this collection
should be in before August 29, 2008).
Title: REG–102144–04 (Final) Dual
Consolidated Losses.
Description: 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. This final
regulation permits the domestic use of
the loss if the loss has not been used in
the foreign country provided a domestic
use agreement is filed with the income
tax return of the domestic affiliated
group or domestic owner agreeing to
recapture the loss into income upon a
future foreign use of the loss.
VerDate Aug<31>2005
18:52 Aug 26, 2008
Jkt 214001
Respondents: Businesses or other forprofit institutions.
Estimated Total Burden Hours: 2,740
hours.
OMB Number: 1545–1375.
Type of Review: Extension.
Title: IA–5–92 (Final) Carryover of
Passive Activity Losses and Credits and
At Risk Losses to Bankruptcy Estates of
Individuals.
Description: These regulations
provide for a joint election to have the
regulations apply to certain bankruptcy
cases. In a chapter 7 case, the written
consent of the trustee must be obtained.
In chapter 11 case, the election must be
in the reorganization plan or in a court
order.
Respondents: Individuals or
households.
Estimated Total Burden Hours: 100
hours.
OMB Number: 1545–0922.
Type of Review: Extension.
Title: Form 8329, Lender’s
Information Return for Mortgage Credit
Certificates (MCCs); Form 8330, Issuer’s
Quarterly Information Return for
Mortgage Credit Certificates (MCCs).
Forms: 8329, 8330.
Description: Form 8329 is used by
lending institutions and Form 8330 is
used by state and local governments to
report on mortgage credit certificates
(MCCs) authorized under IRC Section
25. IRS matches the information
supplied by lenders and issuers to
ensure that the credit is computed
properly.
Respondents: Businesses or other forprofit institutions.
Estimated Total Burden Hours: 73,720
hours.
OMB Number: 1545–1655.
Type of Review: Extension.
Title: REG–121946–98 (Final) Private
Foundation Disclosure Rules.
Description: The collections of
information in section 301.6104(d)-1,
301.6104 (d)-2 and 301.6104(d)-3 are
necessary so that private foundations
can make copies of their applications for
tax-exemption and annual information
returns available to the public.
Respondents: Not-for-profit
institutions.
Estimated Total Burden Hours: 32,596
hours.
OMB Number: 1545–1633.
Type of Review: Extension.
Title: REG–209121–89 (Final) Certain
Asset Transfers to a Tax-Exempt Entity.
Description: The written
representation requested from a taxexempt entity in regulations section
1.337(d)-4(b)(1)(A) concerns its plans to
use assets received from a taxable
corporation in a taxable unrelated trade
PO 00000
Frm 00085
Fmt 4703
Sfmt 4703
50671
or business. The taxable corporation is
not taxable on gain if the assets are used
in a taxable unrelated trade or business.
Respondents: Not-for-profit
institutions.
Estimated Total Burden Hours: 125
hours.
OMB Number: 1545–1485.
Type of Review: Extension.
Title: PS–4–96 (Final) Sale of
Residence From Qualified Personal
Residence Trust.
Description: Internal Revenue Code
section 2702(a)(3) provides special
favorable valuation rules for valuing the
gift of a personal residence trust.
Regulation section 25.2702–5(a)(2)
provides that if the trust fails to comply
with the requirements contained in the
regulations, the trust will be treated as
complying if a statement is attached to
the gift tax return reporting the gift
stating that a proceeding has been
commenced to reform the instrument to
comply with the requirements of the
regulations.
Respondents: Individuals or
Households.
Estimated Total Burden Hours: 625
hours.
OMB Number: 1545–0723.
Type of Review: Extension.
Title: LR–115–72 (Final)
Manufacturers Excise Taxes and
Sporting Goods and Firearms and Other
Administrative Provisions of Special
Application to Manufacturers and
Retailers Excise Taxes.
Description: Chapters 31 & 32 of the
Internal Revenue Code impose excise
taxes on the sale or use of certain
articles. Section 6416 allows a credit or
refund of the tax to manufacturers in
certain cases. Sections 6420, 6421, and
6427 allow credits or refunds of the tax
to certain users of the articles.
Respondents: Businesses and other
for-profit institutions.
Estimated Total Burden Hours:
475,000 hours.
OMB Number: 1545–1496.
Type of Review: Extension.
Title: REG–209673–93 Mark to Market
for Dealers in Securities(TD 8700
(final)).
Description: Under section
1.475(b)–4, the information required to
be recorded is required by the IRS to
determine whether exemption from
mark-to-market treatment is properly
claimed, and will be used to make that
determination upon audit of taxpayer’s
books and records. Also, under section
1.475(c)–1(a)(3)(iii), the information is
necessary for the Service to determine
whether a consolidated group has
elected to disregard inter-member
transactions in determining a member’s
status as a dealer in securities.
E:\FR\FM\27AUN1.SGM
27AUN1
]]>Agencies
[Federal Register Volume 73, Number 167 (Wednesday, August 27, 2008)]
[Notices]
[Pages 50667-50671]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-19809]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Submission for OMB Review; Comment Request
August 21, 2008.
The Department of 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, and 1750
Pennsylvania Avenue, NW., Washington, DC 20220.
Dates: Written comments should be received on or before September
26, 2008 to be assured of consideration.
Internal Revenue Service (IRS)
OMB Number: 1545-0001.
Type of Review: Extension.
Title: Employer's Annual Railroad Retirement Tax Return.
Forms: CT-1.
Description: Railroad employers are required to file an annual
return to report employer and employee Railroad Retirement Tax Act
(RRTA). Form CT-1 is used for this purpose. IRS uses the information to
insure that the employer has paid the correct tax.
Respondents: Businesses or other for-profit institutions.
Estimated Total Burden Hours: 46,359 hours.
OMB Number: 1545-0058.
Type of Review: Extension.
Title: Application for Recognition of Exemption Under Section 521
of the Internal Revenue Code.
Form: 1028.
Description: Farmers' cooperatives must file Form 1028 to apply for
exemption from Federal income tax as being organizations described in
IRC section 521. The information on Form 1028 provides the basis for
determining whether the applicants are exempt.
Respondents: Businesses and other for-profit institutions, farms.
Estimated Total Burden Hours: 2,545 hours.
OMB Number: 1545-1794.
Type of Review: Extension.
Title: Compensatory Stock Options Under Section 482.
Description: The information will be used to determine whether the
participants in a qualified cost sharing arrangement are sharing stock-
based compensation costs attributable to the intangible development
area in proportion to reasonably anticipated benefits as required by
the proposed amendment to the cost sharing regulations.
Respondents: Businesses or other for-profit institutions.
Estimated Total Burden Hours: 2,000 hours.
OMB Number: 1545-1269.
Type of Review: Extension.
Title: PS-7-90 (Final) Nuclear Decommissioning Fund Qualification
Requirements.
Description: If a taxpayer requests, in connection with a request
for a schedule of ruling amounts, a ruling as to the classification of
certain unincorporated organizations, the taxpayer is required to
submit a copy of the documents establishing or governing the
organization.
Respondents: Businesses and other for-profit institutions.
Estimated Total Burden Hours: 150 hours.
OMB Number: 1545-1762.
Type of Review: Extension.
Title: Direct Deposit of Corporate Tax Refund.
Form: 8050.
Description: This form is used to request a deposit of a tax refund
directly into an account at any U.S. bank or other financial
institution.
Respondents: Businesses and other for-profit institutions.
Estimated Total Burden Hours: 348,600 hours.
OMB Number: 1545-1407.
Type of Review: Extension.
Title: Consent To Extend the Time To Assess the Branch Profits Tax
Under Regulations Sections 1.884-2(a) and (c).
Form: 8848.
Description: Form 8848 is used by foreign corporations that have
(a) completely terminated all of their U.S. trade or business within
the meaning of Temporary Regulations section 1.884-2T(a) during the tax
year or (b) transferred their U.S. assets to a domestic corporation in
a transaction described in Code section 381(a), if the foreign
corporation was engaged in a U.S. trade or business at that time.
Respondents: Businesses and other for-profit institutions.
Estimated Total Burden Hours: 22,500 hours.
OMB Number: 1545-1922.
Type of Review: Extension.
Title: Survey Questionnaire.
Form: 12884.
Description: Form 12884 is used to collect statistical information
regarding advertising sources and RNO data.
Respondents: Individuals or households.
Estimated Total Burden Hours: 2,757 hours.
OMB Number: 1545-1776.
Type of Review: Extension.
Title: U.S. Income Tax Return for Electing Alaska Native Settlement
Trusts.
Form: 1041-N.
Description: An Alaska Native Settlement Trust (ANST) may elect
under section 646 to have the special income tax treatment of that
section apply to the trust and its beneficiaries.
[[Page 50668]]
This one-time election is made by filing Form 1041-N and the form is
used by the ANST to report its income, etc., and to compute and pay any
income tax. Form 1041-N is also used for the special information
reporting requirements that apply to ANSTs.
Respondents: Businesses or other for-profit institutions.
Estimated Total Burden Hours: 680 hours.
OMB Number: 1545-1767.
Type of Review: Extension.
Title: REG-107644-98 (Final) Dollar-Value LIFO Regulations;
Inventory Price Index Computation Method.
Description: The primary reason for obtaining this information is
to ensure compliance by taxpayers electing to use both the LIFO
inventory method and the IPIC method of accounting for their dollar-
value inventory pools. Most respondents will be manufacturers,
wholesalers, and retailers of tangible personal property.
Respondents: Businesses or other for-profit institutions.
Estimated Total Burden Hours: 1 hour.
OMB Number: 1545-1768.
Type of Review: Extension.
Title: Revenue Procedure 2003-84, Optional Election to Make Monthly
Sec. 706 Allocations.
Description: This revenue procedure allows certain partnerships
with money market fund partners to make an optional election to close
the partnership's books on a monthly basis with respect to the money
market fund partners.
Respondents: Businesses or other for-profit institutions.
Estimated Total Burden Hours: 500 hours.
OMB Number: 1545-1204.
Type of Review: Revision.
Title: Low-Income Housing Credit Agencies Report of Noncompliance
or Building Disposition.
Form: 8823.
Description: Form 8823 is used by housing agencies to report
noncompliance with the low-income housing provisions of Code section
42.
Respondents: State, local, or tribal governments.
Estimated Total Burden Hours: 372,200 hours.
OMB Number: 1545-1783.
Type of Review: Extension.
Title: TD 8989 (final) Guidance Necessary to Facilitate Electronic
Tax Administration.
Description: The regulations provide a regulatory statement of IRS
authority to prescribe what return information or documentation must be
filed with a return, statement or other document required to be made
under any provision of the internal revenue laws or regulations. In
addition, the regulations eliminate regulatory impediments to
electronic filing of Form 1040.
Respondents: Individuals or households.
Estimated Total Burden Hours: 1 hours.
OMB Number: 1545-0256.
Type of Review: Extension.
Title: Supporting Statement to Correct Information (Form 941c);
Planilla Para La Correccion de Informacion (Form 941cPR).
Form: 941C.
Description: This form is used by employers to correct previously
reported FICA or income tax data. It may be used to support a credit or
adjustment claimed on a current return for an error in a prior return
period. The information is used to reconcile wages and taxes previously
reported or used to support a claim for refund, credit, or adjustment
of FICA or income tax.
Respondents: Businesses and other for-profit institutions.
Estimated Total Burden Hours: 9,442,616 hours.
OMB Number: 1545-1493.
Type of Review: Extension.
Title: PS-7-89 (Final) Treatment of Gain From the Disposition of
Interest in Certain Natural Resource Recapture Property by S
Corporations and Their Shareholders.
Description: The regulation prescribes rules under section 1254
relating to the treatment by S corporations and their shareholders of
gain from the disposition of natural resource recapture property and
from the sale or exchange of S corporation stock. Shareholders that
sell or exchange stock may submit a statement to rebut presumption of
gain treatment.
Respondents: Businesses and other for-profit institutions.
Estimated Total Burden Hours: 1,000 hours.
OMB Number: 1545-1646.
Type of Review: Extension.
Title: REG-209060-86 Final, Return Requirement for United States
Persons who acquire or dispose of an interest in a foreign partnership,
or whose proportional interest in a foreign partnership changes.
Description: Section 6046A requires U.S. persons to provide certain
information with respect to the acquisition or disposition of a 10-
percent change in ownership of a foreign partnership. This regulation
provides reporting rules to identify U.S. persons with respect to these
interests.
Respondents: Businesses and other for-profit institutions.
Estimated Total Burden Hours: 1 hour.
OMB Number: 1545-1920.
Type of Review: Revision.
Title: Notice Regarding Repayment of a Buyout Prior to Re-
employment with the Federal Government.
Form: 1311.
Description: Form 12311 is used to identify former Federal
Employees who received a buyout within the past 5 years and are
requesting re-employment.
Respondents: Individuals or households.
Estimated Total Burden Hours: 2,757 hours.
OMB Number: 1545-1926.
Type of Review: Extension.
Title: Notice 2005-10, Domestic Reinvestment Plans and Other
Guidance under Section 965 (NOT-102132-05).
Description: 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 CFC's. Section 965(f) provides that
taxpayers may elect the application of section 965 for either the
taxpayer's last taxable year which begins before October 22, 2004, or
the taxpayer's first 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 provide specified documentation.
Respondents: Businesses or other for-profit institutions.
Estimated Total Burden Hours: 3,750,000 hours.
OMB Number: 1545-1924.
Type of Review: Extension.
Title: Biodiesel Fuels Credit.
Forms: 8864.
Description: IRC section 40A provides a credit for biodiesel or
qualified biodiesel mixtures. IRC section 38(b)(17) allows a
nonrefundable income tax credit for businesses that sell or use
biodiesel. Form 8864 is used to figure the credits.
[[Page 50669]]
Respondents: Businesses or other for-profit institutions.
Estimated Total Burden Hours: 310 hours.
OMB Number: 1545-1759.
Type of Review: Extension.
Title: Amended Quarterly Federal Excise Tax Return.
Form: 720X.
Description: Representatives of the motor fuel industry, state
governments, and the Federal government are working to ensure
compliance with excise taxes on motor fuels. This joint effort has
resulted in a system to track the movement of all product to and from
terminals. Form 720-TO is an information return that will be used by
terminal operators to report their monthly receipts and disbursements
of products.
Respondents: Businesses and other for-profit institutions.
Estimated Total Burden Hours: 152,460 hours.
OMB Number: 1545-1658.
Type of Review: Extension.
Title: REG-107069-97 (Final) Purchase Price Allocations in Deemed
Actual Asset Acquisitions.
Description: Section 338 of the Internal Revenue Code provides
rules under which a qualifying stock acquisition is treated as an asset
acquisition (as ``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 person liable for such tax and to
determine the bases of assets acquired in the deemed asset acquisition.
Respondents: Businesses or other for-profit institutions.
Estimated Total Burden Hours: 25 hours.
OMB Number: 1545-1435.
Type of Review: Extension.
Title: TD 8706 (Final) Electronic Filing of Form W-4.
Description: Information is required by the Internal Revenue
Service to verify compliance with section 31.3402(f)(5)-1, which
authorizes employers to establish electronic systems for use by
employees in filing their withholding exemption certificates. The
affected respondents are employers that choose to make electronic
filing of Forms W-4 available to their employees.
Respondents: Businesses and other for-profit institutions.
Estimated Total Burden Hours: 40,000 hours.
OMB Number: 1545-1649.
Type of Review: Extension.
Title: Rev. Proc. 99-21 Disability Suspension.
Description: The information is needed to establish a claim that a
taxpayer was financially disabled for purposes of section 6511(h) of
the Internal Revenue Code (which was added by section 3203 of the
Internal Revenue Service Restructuring and Reform Act of 1998). Under
section 6511(h), the statute of limitations on claims for credit or
refund is suspended for any period of an individual taxpayer's life
during which the taxpayer is unable to manage his or her financial
affairs because of a medically determinable mental or physical
impairment, if the impairment can be expected to result in death, or
has lasted (or can be expected to last) for a continuous period of not
less than 12 months. Section 6511(h)(2)(A) requires that proof of the
taxpayer's financial disability be furnished to the Internal Revenue
Service.
Respondents: Individuals or households.
Estimated Total Burden Hours: 24,100 hours.
OMB Number: 1545-1100.
Type of Review: Extension.
Title: REG-209106-89 (formerly EE-84-89)(NPRM) Changes With Respect
to Prizes and Awards and Employee Achievement Awards.
Form: 8848.
Description: This regulation requires recipients of prizes and
awards to maintain records to determine whether a qualifying
designation has been made. The affected public are prize and award
recipients who seek to exclude the cost of a qualifying prize or award.
Respondents: Individuals or households.
Estimated Total Burden Hours: 1,275 hours.
OMB Number: 1545-1638.
Type of Review: Extension.
Title: Small Business Tax Product Order Blank For IRS Designated
Partners.
Form: 12196.
Description: Form 12196 is to be used by small business outlets to
order IRS tax forms and publications. The form can be faxed directly to
the IRS Area Distribution Center for order fulfillment, packaging and
mailing.
Respondents: Businesses and other for-profit institutions.
Estimated Total Burden Hours: 42 hours.
OMB Number: 1545-1773.
Type of Review: Extension.
Title: Revenue Procedure 2002-23, Taxation of Canadian Retirement
Plans Under U.S.--Canada Income Tax Treaty.
Description: This Revenue Procedure provides guidance for the
application by U.S. citizens and residents of the U.S.--Canada Income
Tax Treaty, as amended by the 1995 protocol, in order to defer U.S.
Income taxes on income accrued in certain Canadian retirement plans.
Respondents: Individuals or households.
Estimated Total Burden Hours: 10,000 hours.
OMB Number: 1545-0003.
Type of Review: Extension.
Title: SS-4, Application for Employer Identification Number; SS-
4PR, Solicitud de Numero de Identificacion Patronal (EIN).
Form: SS-4.
Description: Taxpayers required to have an identification number
for use on any return, statement, or other document must prepare and
file Form SS-4 of Form SS-4PR (Puerto Rico only) to obtain a number.
The information is used by the IRS and the SSA in tax administration
and by the Bureau of the Census for business statistics.
Respondents: Businesses or other for-profit institutions.
Estimated Total Burden Hours: 15,941,913 hours.
OMB Number: 1545-1486.
Type of Review: Extension.
Title: REG-209793-95 (Final) Simplification of Entity
Classification Rules.
Description: These rules allow certain unincorporated business
organizations to elect to be treated as corporations or partnerships
for federal tax purposes. The information collected on the election
will be used to verify the classification of electing organizations.
Respondents: Businesses or other for-profit institutions.
Estimated Total Burden Hours: 1 hour.
OMB Number: 1545-1919.
Type of Review: Extension.
Title: Prior Government Service Information.
Form: 12854.
Description: Form 12854 is used to record prior government service,
annuitant information, and advice on probationary periods.
Respondents: Individuals or households.
Estimated Total Burden Hours: 6,203 hours.
OMB Number: 1545-0152.
Type of Review: Revision.
Title: Application for Change in Accounting Method.
[[Page 50670]]
Form: 3115.
Description: Form 3115 is used by taxpayers who wish to change
their method of computing their taxable income. The form is used by the
IRS to determine if electing taxpayers have met the requirements and
are able to change to the method requested.
Respondents: Individuals or households.
Estimated Total Burden Hours: 929,066 hours.
OMB Number: 1545-0024.
Type of Review: Revision.
Title: Claim for Refund and Request for Abatement.
Form: 843.
Description: IRC section 6402, 6404, and sections 301.6404-2, and
301.6404-3 of the regulations allow for refunds of taxes (except income
taxes) or refund, abatement, or credit of interest, penalties, and
additions to tax in the event of errors or certain action by the IRS.
Form 843 is used by taxpayers to claim these refunds, credits, or
abatements.
Respondents: Individuals or households.
Estimated Total Burden Hours: 850,980 hours.
OMB Number: 1545-0284.
Type of Review: Extension.
Title: Application for Determination of Employee Stock Ownership
Plan.
Form: 5309.
Description: Form 5309 is used in conjunction with Form 5300 or
Form 5303 when applying for a determination letter as to a deferred
compensation plan's qualification status under section 409 or
4975(e)(7) of the Internal Revenue Code. The information is used to
determine whether the plan qualifies.
Respondents: Businesses and other for-profit institutions.
Estimated Total Burden Hours: 5,300 hours.
OMB Number: 1545-1491.
Type of Review: Extension.
Title: REG-209798-95 (Final) Amortizable Bond Premium.
Description: The information requested is necessary for the Service
to determine whether a holder of a bond has elected to amortize bond
premium and to determine whether an issuer or a holder has changed its
method of accounting for premium.
Respondents: Businesses and other for-profit institutions.
Estimated Total Burden Hours: 7,500 hours.
OMB Number: 1545-1641.
Type of Review: Extension.
Title: Rev. Proc. 99-17 Mark to Market Election for Commodities
Dealers and Securities and Commodities Traders.
Description: The revenue procedure prescribes the time and manner
for dealers in commodities and traders in securities or commodities to
elect to use the mark-to-market method of accounting under Sec. 475(e)
or (f) of the Internal Revenue Code. The collections of information in
sections 5 and 6 of this revenue procedure are required by the IRS in
order to facilitate monitoring taxpayers changing accounting methods
resulting from making the elections under Sec. 475(e) or (f).
Respondents: Individuals or households.
Estimated Total Burden Hours: 500 hours.
OMB Number: 1545-1581.
Type of Review: Extension.
Title: Continuation Coverage Requirements Applicable to Group
Health Plans--Final (REG-209485-86).
Description: The statute and the regulations require group health
plans to provide notices to individuals who are entitled to elect COBRA
continuation coverage of their election rights. Individuals who wish to
obtain the benefits provided under the statute are required to provide
plans notices in the cases of divorce from the covered employee, a
dependent child's ceasing to be a dependent under the terms of the
plan, and disability. Most plans will require that elections of COBRA
continuation coverage be made in writing. In cases where qualified
beneficiaries are short by an insignificant amount in a payment made to
the plan, the regulations require the plan to notify the qualified
beneficiary if the plan does not wish to treat the tendered payment as
full payment. If a health care provider contacts a plan to confirm
coverage of a qualified beneficiary, the regulations require that the
plan disclose the qualified beneficiary's complete rights to coverage.
Respondents: Businesses or other for-profit institutions.
Estimated Total Burden Hours: 404,640 hours.
OMB Number: 1545-1643.
Type of Review: Extension.
Title: REG-209484-87 (Final) Federal Insurance Contributions Act
(FICA) Taxation of Amounts Under Employee Benefit Plans.
Description: This regulation provides guidance as to when amounts
deferred under or paid from a nonqualified deferred compensation plan
are taken into account as wages for purposes of the employment taxes
imposed by the Federal Insurance Contributions Act (FICA). Section
31.3121(v)(2)-1(a)(2) requires that the material terms of a plan be set
forth in writing.
Respondents: Businesses and other for-profit institutions.
Estimated Total Burden Hours: 12,500 hours.
OMB Number: 1545-1409.
Type of Review: Extension.
Title: Application for Determination of Employee Stock Ownership
Plan.
Form: 8842.
Description: Form 8842 is used by corporations (including S
corporations), tax-exempt organizations subject to the unrelated
business income tax, and private foundations to annually elect the use
of an annualization period in section 6655(e)(2)(c)(i) or (ii) for
purpose of figuring the corporation's estimated tax payments under the
annualized income installment method.
Respondents: Businesses and other for-profit institutions.
Estimated Total Burden Hours: 4,335 hours.
OMB Number: 1545-1765.
Type of Review: Extension.
Title: REG-119436-01 Final (TD 9171) New Markets Tax Credit.
Description: The regulations provide guidance for taxpayers
claiming the new markets tax credit under section 45D of the Internal
Revenue Code. The reporting requirements in the regulations require a
qualified community development entity (CDE) to provide written notice
to: (1) Any taxpayer who acquires an equity investment in the CDE at
its original issue that the equity investment is a qualified equity
investment entitling the taxpayer to claim the new markets tax credits;
and (2) each holder of a qualified equity investment, including all
prior holders of that investment that a recapture event has occurred.
CDE's must comply with such reporting requirements to the Secretary as
the Secretary may prescribe.
Respondents: Businesses and other for-profit institutions.
Estimated Total Burden Hours: 210 hours.
OMB Number: 1545-0216.
Type of Review: Revision.
Title: International Boycott Report.
Form: 5713.
Description: Form 5713 and related Schedules A, B, and C are used
by any entity that has operations in a ``boycotting'' country. If that
entity cooperates with or participates in an international boycott it
loses a portion of the foreign tax credit, or deferral of FSC and IC-
DISC benefits. The IRS uses Form 5713 to determine if any of the above
benefits should be lost. The information is also used as the basis for
a report to the Congress.
[[Page 50671]]
Respondents: Businesses or other for-profit institutions.
Estimated Total Burden Hours: 69,495 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. E8-19809 Filed 8-26-08; 8:45 am]
BILLING CODE 4830-01-P
