Departmental Offices; Proposed Collections; Comment Requests, 55205-55206 [E8-22339]
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Federal Register / Vol. 73, No. 186 / Wednesday, September 24, 2008 / Notices
Estimated Total Burden Hours: 1
hour.
OMB Number: 1545–1591.
Type of Review: Extension.
Title: Reg–251701–96 Electing Small
Business Trusts.
Description: This regulation provides
the time and manner for making the
Electing Small Business Trust election
pursuant to section 1361 (e)(3).
Respondents: Businesses and other
for-profit institutions.
Estimated Total Burden Hours: 7,500
hours.
OMB Number: 1545–1364.
Type of Review: Revision.
Title: EG–144615–02 (NPRM),
Methods to Determine Taxable Income
in Connection with a Cost Sharing
Arrangement.
Description: The collection of
information related to the IRS’s
assessment of whether a cost sharing
arrangement is valid, and whether each
participant’s share of costs is
proportionate to the participants share
of benefits, and whether arm’s length
compensation has been paid to those
participants providing external
contributions such that an appropriate
return is provided to those participants
for putting their funds at risk to a greater
extent than the other participants.
Respondents: Businesses or other forprofit institutions.
Estimated Total Burden Hours: 9,350
hours.
OMB Number: 1545–1005.
Type of Review: Extension.
Title: PS–62–87 (Final) Low-Income
Housing Credit for Federally-Assisted
Buildings.
Description: The rule requires the
taxpayer (low-income building owner)
to seek a waiver in writing from the IRS
concerning low-income buildings
acquired during a special 10-year period
in order to avert a claim against a
Federal mortgage insurance fund.
Respondents: Businesses or other forprofit institutions.
Estimated Total Burden Hours: 3,000
hours.
OMB Number: 1545–0819.
Type of Review: Extension.
Title: 26 CFR 601.201 Instructions for
Requesting Rulings and Determination
Letters.
Description: The National Office
issues ruling letters and Area Directors
issue determination letters to taxpayers
interpreting and applying the tax laws
to a specific set of facts. The National
Office also issues other types of letters.
The procedural regulations set forth the
instructions for requesting ruling and
determination letters.
Respondents: Businesses or other forprofit institutions.
VerDate Aug<31>2005
17:26 Sep 23, 2008
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55205
Estimated Total Burden Hours:
248,496 hours.
Executive Office Building, Washington,
DC 20503.
OMB Number: 1545–1937.
Type of Review: Extension.
Title: Notice 2005–41, Guidance
Regarding Qualified Intellectual
Property Contributions.
Description: This notice explains new
section 170(e)(1)(B)(iii) and 170(m) as
added by section 882 of the American
Jobs Creation Act of 2004. Under section
170(e)(1)(B)(iii), a donor’s initial
charitable contribution deduction for a
gift of qualified intellectual property is
limited to the lesser of the donor’s
adjusted basis is the property or its fair
market value. Under section 170(m), the
donor may claim additional deduction
in subsequent years if the property
produces income.
Respondents: Businesses and other
for-profit institutions.
Estimated Total Burden Hours: 30
hours.
Robert Dahl,
Treasury PRA Clearance Officer.
[FR Doc. E8–22325 Filed 9–23–08; 8:45 am]
OMB Number: 1545–1936.
Type of Review: Extension.
Title: Revenue Procedure 2005–24,
Waiver of Spousal Election.
Description: This revenue procedure
provides guidance on the procedures for
waiving a spousal election right with
respect to charitable remainder annuity
trusts under section 664(d)(1) and
charitable remainder unitrusts under
section 664(d)(2) that are established
after the date that is 90 days after the
date the Rev. Proc. is published in the
IRB.
Respondents: Businesses or other forprofit institutions.
Estimated Total Burden Hours:
150,000 hours.
OMB Number: 1545–1490.
Type of Review: Extension.
Title: FI–28–96 (Final) Arbitrage
Restrictions on Tax-Exempt Bonds.
Description: The recordkeeping
requirements are necessary for the
Service to determine that an issuer of
tax-exempt bonds has not paid more
than fair market value for nonpurpose
investments under section 148 of the
Internal Revenue Code.
Respondents: State, Local, or Tribal
Governments.
Estimated Total Burden Hours: 1,425
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
PO 00000
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BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Departmental Offices; Proposed
Collections; Comment Requests
Notice and request for
comments.
ACTION:
SUMMARY: The Department of the
Treasury, as part of its continuing effort
to reduce paperwork burdens, invites
the general public and other Federal
agencies to comment on the revision of
an information collection that is
proposed for approval by the Office of
Management and Budget. The Office of
International Affairs within the
Department of the Treasury is soliciting
comments concerning Treasury
International Capital Form S, Purchases
and Sales of Long-term Securities by
Foreigners.
DATES: Written comments should be
received on or before November 24,
2008 to be assured of consideration.
ADDRESSES: Direct all written comments
to Dwight Wolkow, International
Portfolio Investment Data Systems,
Department of the Treasury, Room 5422,
1500 Pennsylvania Avenue NW.,
Washington, DC 20220. In view of
possible delays in mail delivery, please
also notify Mr. Wolkow by e-mail
(dwight.wolkow@do.treas.gov), FAX
(202–622–2009) or telephone (202–622–
1276).
FOR FURTHER INFORMATION CONTACT:
Copies of the proposed forms and
instructions are available on the
Treasury’s TIC Forms Web page, https://
www.treas.gov/tic/forms.html. Requests
for additional information should be
directed to Mr. Wolkow.
SUPPLEMENTARY INFORMATION:
Title: Treasury International Capital
Form S, Purchases and Sales of Longterm Securities by Foreigners.
OMB Control Number: 1505–0001.
Abstract: Form S is part of the
Treasury International Capital (TIC)
reporting system, which is required by
law (22 U.S.C. 286f; 22 U.S.C. 3103; E.O.
10033; 31 CFR part 128), and is
designed to collect timely information
on international portfolio capital
movements. Form S is a monthly report
used to cover transactions in long-term
marketable securities undertaken
DIRECTLY with foreigners by banks,
other depository institutions, brokers,
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jlentini on PROD1PC65 with NOTICES
55206
Federal Register / Vol. 73, No. 186 / Wednesday, September 24, 2008 / Notices
dealers, underwriting groups and other
individuals and institutions. This
information is necessary for compiling
the U.S. balance of payments and
international investment position
accounts, and for formulating U.S.
international financial and monetary
policies.
Current Actions: (a) Under the
‘‘Grand Total’’ row (9999–6), an
additional row will be added to record
the total of transactions in asset-backedsecurities (ABS) that is included in the
‘‘Grand Total’’ row. In the new row,
entries will be required under the
columns for ‘‘Bonds of U.S Gov’t
Corporations and Federally-Sponsored
Agencies’’, for ‘‘Corporate and Other
Bonds’’, and for ‘‘Foreign Bonds’’
(columns 3,4,5,6,9,10). The new row
will also be included in the addendum
section of the form that covers
transactions with foreign official
institutions. The additional information
will satisfy a minimum need for more
timely information on such transactions.
The information will increase the
reporting burden modestly as compared
with the alternative burden of adding
new columns because columns would
require the data by country. The
additional information will move
toward providing information already
available in the less timely annual
reports on holdings of securities.
Comments from TIC respondents
indicate that their computerized
database systems can produce the data
on ABS; (b) the instructions will be
revised to cover the additional row
proposed above; (c) the instructions will
be revised to add coverage of reporting
by prime brokers; (d) the instructions
(section D of the General Instructions)
will be revised to require that foreign
currency transactions be converted to
U.S. dollars as of the settlement date,
instead of the current requirement to
convert as of the report date; (e) the
instructions (section F of the General
Instructions) will be revised to require
that data reporters, once the exemption
level is exceeded, continue to report for
the remainder of the current calendar
year, instead of the current requirement
to continue reporting for that period
plus the following calendar year; and (d)
these changes will be effective
beginning with the reports as of March
31, 2009.
Type of Review: Revision of a
currently approved collection.
Affected Public: Business or other forprofit organizations.
Form S (1505–0001)
Estimated Number of Respondents:
254
VerDate Aug<31>2005
17:26 Sep 23, 2008
Jkt 214001
Estimated Average Time per
Respondent: Six hours per respondent
per filing. This estimate includes 0.4
hours for the Current Actions proposed
above. The estimated average time per
respondent varies from 10.8 hours for
the approximately 30 major reporters to
5.4 hours for the other reporters.
Estimated Total Annual Burden
Hours: 18,400 hours, based on 12
reporting periods per year.
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. The
public is invited to submit written
comments concerning: (a) Whether
Form S is necessary for the proper
performance of the functions of the
Office, including whether the
information will have practical uses; (b)
the accuracy of the above estimate of the
burdens; (c) ways to enhance the
quality, usefulness and clarity of the
information to be collected; (d) ways to
minimize the reporting and/or record
keeping burdens on respondents,
including the use of information
technologies to automate the collection
of the data; and (e) estimates of capital
or start-up costs of operation,
maintenance and purchase of services to
provide information.
Dwight Wolkow,
Administrator, International Portfolio
Investment Data Systems.
[FR Doc. E8–22339 Filed 9–23–08; 8:45 am]
BILLING CODE 4810–25–P
DEPARTMENT OF THE TREASURY
Establishment of Advisory Committee
on the Ten Year Framework for Energy
and Environment Cooperation With
China and Request for Nominations
Department of the Treasury,
Departmental Offices. Office of the
Special Envoy for China and the
Strategic Economic Dialogue.
ACTION: Notice of Intent to Establish and
Request for Nominations.
AGENCY:
SUMMARY: The Department of the
Treasury (the ‘‘Department’’) intends to
establish the Advisory Committee on
the Ten Year Framework for Energy and
Environment Cooperation with China
(the ‘‘Advisory Committee’’) to provide
advice and recommendations on how
best the United States can cooperate
with China on shared energy and
environmental challenges pursuant to
the ‘‘Framework for the Ten Year
Cooperation on the Energy and
Environment between the Government
PO 00000
Frm 00186
Fmt 4703
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of the United States of America and the
Government of the People’s Republic of
China’’ (signed on 6/18/08 in
Washington, DC). The Department is
seeking nominations of individuals to
be considered for selection as Advisory
Committee members, and names of
professional and public interest groups
that should be represented on the
Committee.
DATES: Nominations must be received
before or on September 29, 2008.
ADDRESSES: Nominations should be sent
to mary.kertz@do.treas.gov or by hard
copy to Advisory Committee on the Ten
Year Framework for Energy and
Environment Cooperation with China,
Office of the Special Envoy for China
and the Strategic Economic Dialogue,
Department of the Treasury, Main
Treasury Building, Room 1308, 1500
Pennsylvania Avenue, NW.,
Washington, DC 20220.
FOR FURTHER INFORMATION CONTACT:
Mary Kertz, Special Advisor to
Ambassador Alan Holmer, Office of the
Special Envoy for China and the
Strategic Economic Dialogue,
Department of the Treasury, Main
Treasury Building, Room 1308, 1500
Pennsylvania Avenue, NW.,
Washington, DC 20220, (202) 622–2208
(not a toll-free number).
SUPPLEMENTARY INFORMATION: In
accordance with the requirements of the
Federal Advisory Committee Act, 5
U.S.C. App., the Department is
publishing this notice that the
Department intends to establish the
Advisory Committee. The Advisory
Committee’s objective will be to provide
advice and recommendations to the U.S.
chair of the joint U.S.-China Steering
Committee for Energy and Environment
Cooperation (the ‘‘Joint Steering
Committee’’), which is currently
occupied by the Secretary of the
Treasury. In particular, the Advisory
Committee will make periodic
recommendations to the U.S. chair of
the Joint Steering Committee on the
status of energy and environment
cooperation with China; on prioritizing
energy and environment challenges
facing the United States and China; and
on the means to further promote and
enhance cooperation on energy and
environment challenges that face both
the United States and China through the
Ten Year Framework.
The charter will provide that the
duties of the Advisory Committee shall
be solely advisory and shall extend only
to responding to requests from the U.S.
Chair of the Joint Steering Committee,
which is currently occupied by the
Secretary of the Treasury. Such
responses may be in the form of advice
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]]>Agencies
[Federal Register Volume 73, Number 186 (Wednesday, September 24, 2008)]
[Notices]
[Pages 55205-55206]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-22339]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Departmental Offices; Proposed Collections; Comment Requests
ACTION: Notice and request for comments.
-----------------------------------------------------------------------
SUMMARY: The Department of the Treasury, as part of its continuing
effort to reduce paperwork burdens, invites the general public and
other Federal agencies to comment on the revision of an information
collection that is proposed for approval by the Office of Management
and Budget. The Office of International Affairs within the Department
of the Treasury is soliciting comments concerning Treasury
International Capital Form S, Purchases and Sales of Long-term
Securities by Foreigners.
DATES: Written comments should be received on or before November 24,
2008 to be assured of consideration.
ADDRESSES: Direct all written comments to Dwight Wolkow, International
Portfolio Investment Data Systems, Department of the Treasury, Room
5422, 1500 Pennsylvania Avenue NW., Washington, DC 20220. In view of
possible delays in mail delivery, please also notify Mr. Wolkow by e-
mail (dwight.wolkow@do.treas.gov), FAX (202-622-2009) or telephone
(202-622-1276).
FOR FURTHER INFORMATION CONTACT: Copies of the proposed forms and
instructions are available on the Treasury's TIC Forms Web page, http:/
/www.treas.gov/tic/forms.html. Requests for additional information
should be directed to Mr. Wolkow.
SUPPLEMENTARY INFORMATION:
Title: Treasury International Capital Form S, Purchases and Sales
of Long-term Securities by Foreigners.
OMB Control Number: 1505-0001.
Abstract: Form S is part of the Treasury International Capital
(TIC) reporting system, which is required by law (22 U.S.C. 286f; 22
U.S.C. 3103; E.O. 10033; 31 CFR part 128), and is designed to collect
timely information on international portfolio capital movements. Form S
is a monthly report used to cover transactions in long-term marketable
securities undertaken DIRECTLY with foreigners by banks, other
depository institutions, brokers,
[[Page 55206]]
dealers, underwriting groups and other individuals and institutions.
This information is necessary for compiling the U.S. balance of
payments and international investment position accounts, and for
formulating U.S. international financial and monetary policies.
Current Actions: (a) Under the ``Grand Total'' row (9999-6), an
additional row will be added to record the total of transactions in
asset-backed-securities (ABS) that is included in the ``Grand Total''
row. In the new row, entries will be required under the columns for
``Bonds of U.S Gov't Corporations and Federally-Sponsored Agencies'',
for ``Corporate and Other Bonds'', and for ``Foreign Bonds'' (columns
3,4,5,6,9,10). The new row will also be included in the addendum
section of the form that covers transactions with foreign official
institutions. The additional information will satisfy a minimum need
for more timely information on such transactions. The information will
increase the reporting burden modestly as compared with the alternative
burden of adding new columns because columns would require the data by
country. The additional information will move toward providing
information already available in the less timely annual reports on
holdings of securities. Comments from TIC respondents indicate that
their computerized database systems can produce the data on ABS; (b)
the instructions will be revised to cover the additional row proposed
above; (c) the instructions will be revised to add coverage of
reporting by prime brokers; (d) the instructions (section D of the
General Instructions) will be revised to require that foreign currency
transactions be converted to U.S. dollars as of the settlement date,
instead of the current requirement to convert as of the report date;
(e) the instructions (section F of the General Instructions) will be
revised to require that data reporters, once the exemption level is
exceeded, continue to report for the remainder of the current calendar
year, instead of the current requirement to continue reporting for that
period plus the following calendar year; and (d) these changes will be
effective beginning with the reports as of March 31, 2009.
Type of Review: Revision of a currently approved collection.
Affected Public: Business or other for-profit organizations.
Form S (1505-0001)
Estimated Number of Respondents: 254
Estimated Average Time per Respondent: Six hours per respondent per
filing. This estimate includes 0.4 hours for the Current Actions
proposed above. The estimated average time per respondent varies from
10.8 hours for the approximately 30 major reporters to 5.4 hours for
the other reporters.
Estimated Total Annual Burden Hours: 18,400 hours, based on 12
reporting periods per year.
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. The public is invited to submit written comments
concerning: (a) Whether Form S is necessary for the proper performance
of the functions of the Office, including whether the information will
have practical uses; (b) the accuracy of the above estimate of the
burdens; (c) ways to enhance the quality, usefulness and clarity of the
information to be collected; (d) ways to minimize the reporting and/or
record keeping burdens on respondents, including the use of information
technologies to automate the collection of the data; and (e) estimates
of capital or start-up costs of operation, maintenance and purchase of
services to provide information.
Dwight Wolkow,
Administrator, International Portfolio Investment Data Systems.
[FR Doc. E8-22339 Filed 9-23-08; 8:45 am]
BILLING CODE 4810-25-P
