Proposed Collection; Comment Request for Revenue Procedure 99-32, 55212 [E8-22392]
Download as PDF
<![CDATA[
jlentini on PROD1PC65 with NOTICES
55212
Federal Register / Vol. 73, No. 186 / Wednesday, September 24, 2008 / Notices
Income of Certain Controlled
Corporations under Section 954(j).
OMB Number: 1545–1799.
Notice Number: Notice 2002–69.
Abstract: Notice 2002–69 allows U.S.
shareholders of a foreign insurance
company to use the foreign insurance
company’s historical loss payment
patterns in computing the company’s
insurance reserves provided the
company has a certain number of years
of data and makes an election to use that
data. A domestic insurance company
can elect to use its own historical data
in computing its reserves provided
certain requirements are satisfied and an
election is made. This notice allows a
foreign insurance company to elect to
calculate its insurance reserves in a
manner similar to a domestic insurance
company. Also, this notice provides
guidance on how to determine a foreign
insurance company’s foreign loss
payment patterns.
Current Actions: There are no changes
being made to the notice at this time.
Type of Review: Extension of
currently approved collection.
Affected Public: Business or other forprofit organizations.
Estimated Number of Respondents:
300.
Estimated Time per Respondent: 1
hour.
Estimated Total Annual Burden
Hours: 300.
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
VerDate Aug<31>2005
17:26 Sep 23, 2008
Jkt 214001
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: September 16, 2008.
Glenn Kirkland,
IRS Reports Clearance Officer.
[FR Doc. E8–22390 Filed 9–23–08; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment
Request for Revenue Procedure 99–32
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
Revenue Procedure 99–32, Conforming
Adjustments Subsequent to Section 482
Allocations.
DATES: Written comments should be
received on or before November 24,
2008 to be assured of consideration.
ADDRESSES: Direct all written comments
to Glenn 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 Allan Hopkins at Internal
Revenue Service, room 6129, 1111
Constitution Avenue, NW., Washington,
DC 20224, or at (202) 622–6665, or
through the Internet at
Allan.M.Hopkins@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Conforming Adjustments
Subsequent to Section 482 Allocations.
OMB Number: 1545–1657.
Revenue Procedure Number: Revenue
Procedure 99–32.
Abstract: Revenue Procedure 99–32
provides guidance for conforming a
taxpayer’s accounts to reflect a primary
adjustment under Internal Revenue
Code section 482. The revenue
procedure prescribes the applicable
PO 00000
Frm 00192
Fmt 4703
Sfmt 4703
procedures for the repatriation of cash
by a United States taxpayer via an
interest-bearing account receivable or
payable in an amount corresponding to
the amount allocated under Code
section 482 from, or to, a related person
with respect to a controlled transaction.
Current Actions: There are no changes
being made to the revenue procedure at
this time.
Type of Review: Extension of a
currently approved collection.
Affected Public: Business or other forprofit organizations.
Estimated Number of Respondents:
180
Estimated Time per Respondent: 9
hours.
Estimated Total Annual Burden
Hours: 1,620.
The following paragraph applies to all
the collections of information covered
by this notice:
An agency may not conduct or
sponsor, and a person is not required to
respond to, a collection of information
unless the collection of information
displays a valid OMB control number.
Books or records relating to a collection
of information must be retained as long
as their contents may become material
in the administration of any internal
revenue law. Generally, tax returns and
tax return information are confidential,
as required by 26 U.S.C. 6103.
Request for Comments: Comments
submitted in response to this notice will
be summarized and/or included in the
request for OMB approval. All
comments will become a matter of
public record. Comments are invited on:
(a) Whether the collection of
information is necessary for the proper
performance of the functions of the
agency, including whether the
information shall have practical utility;
(b) the accuracy of the agency’s estimate
of the burden of the collection of
information; (c) ways to enhance the
quality, utility, and clarity of the
information to be collected; (d) ways to
minimize the burden of the collection of
information on respondents, including
through the use of automated collection
techniques or other forms of information
technology; and (e) estimates of capital
or start-up costs and costs of operation,
maintenance, and purchase of services
to provide information.
Approved: September 12, 2008.
Glenn Kirkland,
IRS Reports Clearance Officer.
[FR Doc. E8–22392 Filed 9–23–08; 8:45 am]
BILLING CODE 4830–01–P
E:\FR\FM\24SEN1.SGM
24SEN1
]]>Agencies
[Federal Register Volume 73, Number 186 (Wednesday, September 24, 2008)]
[Notices]
[Page 55212]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-22392]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment Request for Revenue Procedure 99-32
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
Revenue Procedure 99-32, Conforming Adjustments Subsequent to Section
482 Allocations.
DATES: Written comments should be received on or before November 24,
2008 to be assured of consideration.
ADDRESSES: Direct all written comments to Glenn 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 Allan Hopkins at
Internal Revenue Service, room 6129, 1111 Constitution Avenue, NW.,
Washington, DC 20224, or at (202) 622-6665, or through the Internet at
Allan.M.Hopkins@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Conforming Adjustments Subsequent to Section 482
Allocations.
OMB Number: 1545-1657.
Revenue Procedure Number: Revenue Procedure 99-32.
Abstract: Revenue Procedure 99-32 provides guidance for conforming
a taxpayer's accounts to reflect a primary adjustment under Internal
Revenue Code section 482. The revenue procedure prescribes the
applicable procedures for the repatriation of cash by a United States
taxpayer via an interest-bearing account receivable or payable in an
amount corresponding to the amount allocated under Code section 482
from, or to, a related person with respect to a controlled transaction.
Current Actions: There are no changes being made to the revenue
procedure at this time.
Type of Review: Extension of a currently approved collection.
Affected Public: Business or other for-profit organizations.
Estimated Number of Respondents: 180
Estimated Time per Respondent: 9 hours.
Estimated Total Annual Burden Hours: 1,620.
The following paragraph applies to all the collections of
information covered by this notice:
An agency may not conduct or sponsor, and a person is not required
to respond to, a collection of information unless the collection of
information displays a valid OMB control number. Books or records
relating to a collection of information must be retained as long as
their contents may become material in the administration of any
internal revenue law. Generally, tax returns and tax return information
are confidential, as required by 26 U.S.C. 6103.
Request for Comments: Comments submitted in response to this notice
will be summarized and/or included in the request for OMB approval. All
comments will become a matter of public record. Comments are invited
on: (a) Whether the collection of information is necessary for the
proper performance of the functions of the agency, including whether
the information shall have practical utility; (b) the accuracy of the
agency's estimate of the burden of the collection of information; (c)
ways to enhance the quality, utility, and clarity of the information to
be collected; (d) ways to minimize the burden of the collection of
information on respondents, including through the use of automated
collection techniques or other forms of information technology; and (e)
estimates of capital or start-up costs and costs of operation,
maintenance, and purchase of services to provide information.
Approved: September 12, 2008.
Glenn Kirkland,
IRS Reports Clearance Officer.
[FR Doc. E8-22392 Filed 9-23-08; 8:45 am]
BILLING CODE 4830-01-P
