Submission for OMB Review; Comment Request, 57407-57409 [E8-23179]
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Federal Register / Vol. 73, No. 192 / Thursday, October 2, 2008 / Notices
Documentation
The vessel chosen to receive the MSP
Operating Agreement, if a foreign-flag
vessel, must be documented as a U.S.flag vessel under 46 U.S.C. chapter 121
prior to being eligible for MSP
payments. Further, proof of U.S. Coast
Guard vessel documentation and all
relevant charter and management
agreements for the chosen vessel must
be approved by the Maritime
Administration before the vessel is
eligible to receive MSP payments.
Vessel Operation
The vessel chosen to receive the MSP
Operating Agreement must be operated
exclusively in the U.S.-foreign trade or
in mixed foreign and domestic trade
allowed under a registry endorsement
issued under 46 U.S.C. 12105, except for
tankers, which may be operated in
foreign-to-foreign commerce, and shall
not otherwise be operated in the
coastwise trade of the United States.
Obligation of the U.S. Government
The amounts payable as MSP
payments under an MSP Operating
Agreement shall constitute a contractual
obligation of the United States
Government to the extent of available
appropriations.
Merchant Marine Academy Cadets
The MSP Operator shall agree to carry
two Merchant Marine Academy cadets,
if available, on each voyage.
Approval
The Secretary in conjunction with the
SecDef may approve applications to
enter into an MSP Operating Agreement
and make MSP Payments with respect
to vessels that are determined by the
Secretary to be the most commercially
viable and those that are deemed by the
SecDef to be most militarily useful for
meeting the sealift needs of the United
States in time of war or national
emergencies.
By Order of the Maritime Administrator.
Dated: September 26, 2008.
Murray A. Bloom,
Acting Secretary, Maritime Administration.
[FR Doc. E8–23189 Filed 10–1–08; 8:45 am]
BILLING CODE 4910–81–P
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DEPARTMENT OF THE TREASURY
Submission for OMB Review;
Comment Request
September 22, 2008.
The Department of Treasury will
submit the following public information
collection requirement(s) to OMB for
VerDate Aug<31>2005
17:52 Oct 01, 2008
Jkt 217001
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 November 3, 2008
to be assured of consideration.
Internal Revenue Service (IRS)
OMB Number: 1545–2099.
Type of Review: Extension.
Title: Excise Tax on Certain Transfers
of Qualifying Geothermal or Mineral
Interests.
Forms: 8924.
Description: Form 8924, Excise Tax
on Certain Transfers of Qualifying
Geothermal or Mineral Interests, is
required by Section 403 of the Tax
Relief and Health Care Act of 2006
which imposes an excise tax on certain
transfers of qualifying mineral or
geothermal interests.
Respondents: Businesses or other forprofit institutions.
Estimated Total Burden Hours: 555
hours.
OMB Number: 1545–1073.
Type of Review: Extension.
Title: Credit for Prior Year Minimum
Tax—Individuals, Estates and Trusts.
Forms: 8801.
Description: Form 8801 is used by
individuals, estates, and trusts to
compute the minimum tax credit, if any,
available from a tax year beginning after
1986 to be used in the current year or
to be carried forward for use in a future
year.
Respondents: Individuals or
Households.
Estimated Total Burden Hours: 89,107
hours.
OMB Number: 1545–1498.
Type of Review: Extension.
Title: REG–209826–96 (NPRM)
Application of the Grantor Trust Rules
to Nonexempt Employees’ Trusts.
Description: The regulations provide
rules for the application of the grantor
trust rules to certain nonexempt
employees’ trusts. Taxpayers must
indicate on a return that they are relying
on a special rule to reduce the
overfunded amount of the trust.
Respondents: Businesses or other forprofit institutions.
Estimated Total Burden Hours: 1,000
hours.
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OMB Number: 1545–0090.
Type of Review: Revision.
Title: Form 1040–SS, U.S. SelfEmployment Tax Return; Form 1040–
PR, Planilla Para La Declaracion De La
Contribucion Federal Sobre El Trabajo
Por Cuenta Propia—Puerto Rico; and
Anejo H–PR.
Forms: 1040–SS, 1040–PR, Anexo H–
PR.
Description: Form 1040–S (Virgin
Islands, Guam, American Samoa, and
the Northern Mariana Islands) and
1040–PR (Puerto Rico) are used by selfemployed individuals to figure and
report self-employment tax under IRC
chapter 2 of Subtitle A, and provide
credit to the taxpayer’s social security
account. Anejo H–PR is used to
compute household employment taxes.
Form 1040–SS and Form 1040–PR are
also used by bona-fide residents of
Puerto Rico to claim the additional
child tax credit.
Respondents: Individuals or
Households.
Estimated Total Burden Hours:
2,880,460 hours.
OMB Number: 1545–1796.
Type of Review: Extension.
Title: REG–106879–00 (Final)
Consolidated Loss Recapture Events.
Description: This document contains
final regulations under section 1503(d)
regarding the events that require the
recapture of dual consolidated losses.
These regulations are issued to facilitate
compliance by taxpayers with the dual
consolidated loss provisions. The
regulations generally provide that
certain events will not trigger recapture
of a dual consolidated loss or payment
of the associated interest charge. The
regulations provide for the filing of
certain agreements in such cases. This
document also makes clarifying and
conforming changes to the current
regulations.
Respondents: Businesses or other forprofit institutions.
Estimated Total Burden Hours: 60
hours.
OMB Number: 1545–1935.
Type of Review: Extension.
Title: Notice 2005–40, election to
defer net experience loss in a
multiemployer plan.
Description: This notice describes the
election that must be filed by an eligible
multiemployer plan’s enrolled actuary
to the Service in order to defer a net
experience loss. The notice also
describes the notification that must be
given to plan participants and
beneficiaries, to labor organizations, to
contributing employers and to the
Pension Benefit Guaranty Corporation
within 30 days of making an election
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57408
Federal Register / Vol. 73, No. 192 / Thursday, October 2, 2008 / Notices
with the Service and the certification
that must be filed if a restricted
amendment is adopted.
Respondents: Businesses or other forprofit institutions.
Estimated Total Burden Hours: 960
hours.
OMB Number: 1545–0714.
Type of Review: Extension.
Title: Employers Annual Information
Return of Tip Income and Allocated
Tips (Form 8027); Transmittal of
Employer’s Annual Information Return
of Tip Income and Allocated Tips (Form
8027–T).
Forms: 8027, 8027–T.
Description: To help IRS in its
examination of returns filed by tipped
employees large food or beverage
establishments are required to report
annually information concerning food
or beverage operations receipts, tips,
reported by employees, and in certain
cases, the employer must allocate tips to
certain employees.
Respondents: Businesses or other forprofit institutions.
Estimated Total Burden Hours:
488,161 hours.
OMB Number: 1545–1675.
Type of Review: Extension.
Title: REG–122450–98 (Final) Real
Estate Mortgage Investment Conduits;
REG–100276–97; REG–122450–98
(NPRM) Financial Asset Securitization
Investment Trusts; Real Estate Mortgage
Investment (TD 9004).
Description: REG–122450–98 Sections
1.860E–1(c)(4)–(10) of the Treasury
Regulations provide circumstances
under which a transferor of a
noneconomic residual interest in a Real
Estate Mortgage Investment Conduit
(REMIC) meeting the investigation, and
two representation requirements may
avail itself of the safe harbor by
satisfying either the formula test or asset
test. REG–100276–97; REG–122450–98
This regulation provides start-up and
transitional rules applicable to financial
asset securitization investment trust.
Respondents: Businesses or other forprofit institutions.
Estimated Total Burden Hours: 1,220
hours.
OMB Number: 1545–0619.
Type of Review: Extension.
Title: Credit for Increasing Research
Activities.
Forms: 6765.
Description: IRC section 38 allows a
credit against income tax (determined
under IRC section 41) for an increase in
research activities in a trade or business.
Form 6765 is used by businesses
individuals engaged in a trade or
business to figure and report the credit.
The data is used to verify that the credit
claimed is correct.
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Respondents: Businesses or other forprofit institutions.
Estimated Total Burden Hours:
338,227 hours.
OMB Number: 1545–1218.
Type of Review: Extension.
Title: CO–25–96 (TD 8824—Final)
Regulations Under Section 1502 of the
Internal Revenue Code of 1986;
Limitations on Net Operating Loss
Carryforwards and Certain Built-in
Losses and Credits Following.
Description: Section 1502 provides for
the promulgation of regulations with
respect to corporations that file
consolidated income tax returns.
Section 382 limits the amount of income
that can be offset by loss carryovers and
credits after an ownership change.
These final regulations provide rules for
applying section 382 to groups of
corporations that file a consolidated
return.
Respondents: Businesses or other forprofit institutions.
Estimated Total Burden Hours: 662
hours.
OMB Number: 1545–1518.
Type of Review: Extension.
Title: HSA, Archer MSA, or Medicare
Advantage MSA Information.
Forms: 5498–SA.
Description: Section 220(h) requires
trustees to report to the IRS and medical
savings accountholders contributions to
and the year-end fair market value of
any contributions made to a medical
savings account (MSA). Congress
requires Treasury to report to them the
total contributions made to an MSA for
the current tax year. Section 1201 of the
Medicare prescription Drug,
Improvement, and Modernization Act of
2003 (P.L. 108–173) created new Code
section 223. Section 223(h) requires the
reporting of contributions to and the
year-end fair market value of health
savings accounts for tax years beginning
after December 31, 2003.
Respondents: Businesses or other forprofit institutions.
Estimated Total Burden Hours: 6,988
hours.
OMB Number: 1545–1424.
Type of Review: Revision.
Title: Cancellation of Debt.
Forms: 1099–C.
Description: Form 1099–C is used for
reporting canceled debt, as required by
section 6050P of the Internal Revenue
Code. It is used to verify that debtors are
correctly reporting their income.
Respondents: Businesses or other forprofit institutions.
Estimated Total Burden Hours:
102,939 hours.
OMB Number: 1545–1492.
Type of Review: Extension.
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Title: Request for Closing Agreement
Relating to Advance Refunding Issue
Under Sections 148 and 7121 and
Revenue Procedure 96–41.
Forms: 10001.
Description: Form 10001 is used in
conjunction with a closing agreement
program involving certain issuers of taxexempt advance refunding bonds.
Revenue Procedure 96–41 established
this voluntary compliance program and
prescribed the filing of Form 10001 to
request a closing agreement.
Respondents: State, local, and Tribal
Governments.
Estimated Total Burden Hours: 300
hours.
OMB Number: 1545–0184.
Type of Review: Extension.
Title: Sales of Business Property.
Forms: 4797.
Description: Form 4797 is used by
taxpayers to report sales, exchanges, or
involuntary conversion of assets, other
than capital assets, and involuntary
conversion of capital assets held more
than one year. It is also used to compute
ordinary income from recapture and the
recapture of prior year section 1231
losses.
Respondents: Individuals or
Households.
Estimated Total Burden Hours:
100,633,248 hours.
OMB Number: 1545–0120.
Type of Review: Extension.
Title: Certain Government Payments.
Forms: 1099–G.
Description: Form 1099–G is used by
governments (primarily state and local)
to report to the IRS (and notify
recipients of) certain payments (e.g.,
unemployment compensation and
income tax refunds). IRS uses the
information to insure that the income is
being properly reported by the
recipients on their returns.
Respondents: Federal Government.
Estimated Total Burden Hours:
12,200,000 hours.
OMB Number: 1545–1091.
Type of Review: Extension.
Title: Corporate Passive Activity Loss
and Credit Limitations.
Forms: 8810.
Description: Under section 469, losses
and credits from passive activities, to
the extent they exceed passive income
(or, in the case of credits, the tax
attributable to met passive income), are
not allowed. Form 8810 is used by
personal service corporations and
closely held corporations to figure the
passive activity loss and credits allowed
and the amount of loss and credit to be
reported on their tax return.
Respondents: Businesses or other forprofit institutions.
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Federal Register / Vol. 73, No. 192 / Thursday, October 2, 2008 / Notices
Estimated Total Burden Hours:
3,749,000 hours.
OMB Number: 1545–1012.
Type of Review: Extension.
Title: Salary Reduction Simplified
Employee Pension-Individual
Retirement Accounts Contribution
Agreement.
Forms: FORM–5305A–SEP.
Description: Form 5305–A–SEP is
used by an employer to make an
agreement to provide benefits to all
employees under a salary reduction
Simplified Employee Pension (SEP)
described in section 408(k). This form is
not to be filed with IRS, but is to be
retained in the employer’s records as
proof of establishing such a plan,
thereby justifying a deduction for
contributions made to the SEP. The data
is used to verify the deduction.
Respondents: Businesses or other forprofit institutions.
Estimated Total Burden Hours:
972,000 hours.
OMB Number: 1545–0928.
Type of Review: Extension.
Title: REG–124667–02 (Final)
Disclosure of Relative Values of
Optional Forms of Benefit; EE–35–85
(Final) Income Tax: Taxable Years
Beginning After December 31, 1953;
OMB Control Number Under The.
Description: These final regulations
are required by statute and must be
provided by employers to retirement
plan participants to inform participants
of their rights under the plan or under
the law. Failure to timely notify
participant of their rights may result in
loss of plan benefits.
Respondents: Businesses or other forprofit institutions.
Estimated Total Burden Hours:
385,000 hours.
OMB Number: 1545–0967.
Type of Review: Extension.
Title: U.S. Estate or Trust Income Tax
Declaration and Signature for Electronic
and Magnetic Media Filing.
Forms: 8879–F, 8453–F.
Description: This form is used to
secure taxpayer signatures and
declarations in conjunction with
electronic and magnetic media filing of
trust and fiduciary income tax returns.
This form, together with the electronic
and magnetic media transmission, will
comprise the taxpayer’s income tax
return (Form 1041).
Respondents: Businesses or other forprofit institutions.
Estimated Total Burden Hours: 1,750
hours.
OMB Number: 1545–0238.
Type of Review: Extension.
Title: Certain Gambling Winnings.
Forms: W–2G.
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17:52 Oct 01, 2008
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Description: IRC section 6041 requires
payers of certain gambling winnings to
report them to IRS. If applicable, section
3402(g) and section 3406 require tax
withholding on these winnings. We use
the information to ensure taxpayer
income reporting compliance.
Respondents: Businesses or other forprofit institutions.
Estimated Total Burden Hours:
1,272,479 hours.
OMB Number: 1545–1008.
Type of Review: Extension.
Title: Passive Activity Loss
Limitations.
Forms: 8582.
Description: Under Internal Revenue
Code section 469, losses from passive
activities, to the extent that they exceed
income from passive activities, cannot
be deducted against nonpassive income.
Form 8582 is used to figure the passive
activity loss allowed and the loss to be
reported on the tax return.
Respondents: Businesses or other forprofit institutions.
Estimated Total Burden Hours:
11,373,963 hours.
OMB Number: 1545–1150.
Type of Review: Revision.
Title: Short Form Return of
Organization Exempt From Income Tax.
Forms: 990–EZ, Schedule A (Form
990 or 990–EZ), Schedule B (Form 990,
990–EZ or 990–PF), Schedule C (Form
990 or 990–EZ), Schedule E (Form 990
or 990–EZ), Schedule G (Form 990 or
990–EZ), Schedule L (Form 990 or 990–
EZ), Schedule N (Form 990 or 990–EZ).
Description: Form 990–EZ is needed
to determine that IRS section 501(a) taxexempt organizations fulfill the
operating conditions within the
limitations of their tax exemption. IRS
uses the information from this form to
determine if the filers are operating
within the rules of their exemption.
Respondents: Not-for-profit
institutions.
Estimated Total Burden Hours:
43,656,636 hours.
OMB Number: 1545–1257.
Type of Review: Extension.
Title: Credit for Prior Year Minimum
Tax—Corporations.
Forms: 8827.
Description: Section 53(d), as revised,
allows corporations a minimum tax
credit based on the full amount of
alternative minimum tax incurred in tax
years beginning after 1989, or a
carryforward for use in a future year.
Respondents: Businesses or other forprofit institutions.
Estimated Total Burden Hours: 25,000
hours.
Clearance Officer: Glenn P. Kirkland,
(202) 622–3428, Internal Revenue
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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. E8–23179 Filed 10–1–08; 8:45 am]
BILLING CODE 4830–01–P
UNITED STATES INSTITUTE OF
PEACE
Notice of Meeting
Agency: United States Institute of
Peace.
Date/Time: Thursday, October 16,
2008, 9:30 a.m.–3:30 p.m.
Location: 1200 17th Street, NW., Suite
200, Washington, DC 20036–3011.
Status: Open Session—Portions may
be closed pursuant to Subsection (c) of
Section 552(b) of Title 5, United States
Code, as provided in subsection
1706(h)(3) of the United States Institute
of Peace Act, Public Law 98–525.
Agenda: October 16, 2008 Board
Meeting; Approval of Minutes of the
One Hundred Thirtieth Meeting (June 6,
2008) of the Board of Directors;
Chairman’s Report; Presidents Report;
Election of Officers; Selection of
National Peace Essay contest topics;
Fellow’s Report; Other General Issues.
Contact: Tessie F. Higgs, Executive
Office, Telephone: (202) 429–3836.
Dated: September 26, 2008.
Michael Graham,
Acting Executive Vice President, United
States Institute of Peace.
[FR Doc. E8–23164 Filed 10–1–08; 8:45 am]
BILLING CODE 6820–AR–M
DEPARTMENT OF VETERANS
AFFAIRS
Veterans’ Advisory Committee on
Rehabilitation (VACOR); Notice of
Meeting
The Department of Veterans Affairs
(VA) gives notice under Public Law 92–
463 (Federal Advisory Committee Act)
that a meeting of the Veterans’ Advisory
Committee on Rehabilitation will be
held on October 15–16, 2008, at the
Paralyzed Veterans of American
Building, 801 18th Street, NW.,
Washington, DC. The meeting sessions
will be held from 8 a.m. to 4 p.m. on
October 15 and from 8 a.m. to 2 p.m. on
October 16. The meeting is open to the
public.
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]]>Agencies
[Federal Register Volume 73, Number 192 (Thursday, October 2, 2008)]
[Notices]
[Pages 57407-57409]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-23179]
=======================================================================
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DEPARTMENT OF THE TREASURY
Submission for OMB Review; Comment Request
September 22, 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 November 3,
2008 to be assured of consideration.
Internal Revenue Service (IRS)
OMB Number: 1545-2099.
Type of Review: Extension.
Title: Excise Tax on Certain Transfers of Qualifying Geothermal or
Mineral Interests.
Forms: 8924.
Description: Form 8924, Excise Tax on Certain Transfers of
Qualifying Geothermal or Mineral Interests, is required by Section 403
of the Tax Relief and Health Care Act of 2006 which imposes an excise
tax on certain transfers of qualifying mineral or geothermal interests.
Respondents: Businesses or other for-profit institutions.
Estimated Total Burden Hours: 555 hours.
OMB Number: 1545-1073.
Type of Review: Extension.
Title: Credit for Prior Year Minimum Tax--Individuals, Estates and
Trusts.
Forms: 8801.
Description: Form 8801 is used by individuals, estates, and trusts
to compute the minimum tax credit, if any, available from a tax year
beginning after 1986 to be used in the current year or to be carried
forward for use in a future year.
Respondents: Individuals or Households.
Estimated Total Burden Hours: 89,107 hours.
OMB Number: 1545-1498.
Type of Review: Extension.
Title: REG-209826-96 (NPRM) Application of the Grantor Trust Rules
to Nonexempt Employees' Trusts.
Description: The regulations provide rules for the application of
the grantor trust rules to certain nonexempt employees' trusts.
Taxpayers must indicate on a return that they are relying on a special
rule to reduce the overfunded amount of the trust.
Respondents: Businesses or other for-profit institutions.
Estimated Total Burden Hours: 1,000 hours.
OMB Number: 1545-0090.
Type of Review: Revision.
Title: Form 1040-SS, U.S. Self-Employment Tax Return; Form 1040-PR,
Planilla Para La Declaracion De La Contribucion Federal Sobre El
Trabajo Por Cuenta Propia--Puerto Rico; and Anejo H-PR.
Forms: 1040-SS, 1040-PR, Anexo H-PR.
Description: Form 1040-S (Virgin Islands, Guam, American Samoa, and
the Northern Mariana Islands) and 1040-PR (Puerto Rico) are used by
self-employed individuals to figure and report self-employment tax
under IRC chapter 2 of Subtitle A, and provide credit to the taxpayer's
social security account. Anejo H-PR is used to compute household
employment taxes. Form 1040-SS and Form 1040-PR are also used by bona-
fide residents of Puerto Rico to claim the additional child tax credit.
Respondents: Individuals or Households.
Estimated Total Burden Hours: 2,880,460 hours.
OMB Number: 1545-1796.
Type of Review: Extension.
Title: REG-106879-00 (Final) Consolidated Loss Recapture Events.
Description: This document contains final regulations under section
1503(d) regarding the events that require the recapture of dual
consolidated losses. These regulations are issued to facilitate
compliance by taxpayers with the dual consolidated loss provisions. The
regulations generally provide that certain events will not trigger
recapture of a dual consolidated loss or payment of the associated
interest charge. The regulations provide for the filing of certain
agreements in such cases. This document also makes clarifying and
conforming changes to the current regulations.
Respondents: Businesses or other for-profit institutions.
Estimated Total Burden Hours: 60 hours.
OMB Number: 1545-1935.
Type of Review: Extension.
Title: Notice 2005-40, election to defer net experience loss in a
multiemployer plan.
Description: This notice describes the election that must be filed
by an eligible multiemployer plan's enrolled actuary to the Service in
order to defer a net experience loss. The notice also describes the
notification that must be given to plan participants and beneficiaries,
to labor organizations, to contributing employers and to the Pension
Benefit Guaranty Corporation within 30 days of making an election
[[Page 57408]]
with the Service and the certification that must be filed if a
restricted amendment is adopted.
Respondents: Businesses or other for-profit institutions.
Estimated Total Burden Hours: 960 hours.
OMB Number: 1545-0714.
Type of Review: Extension.
Title: Employers Annual Information Return of Tip Income and
Allocated Tips (Form 8027); Transmittal of Employer's Annual
Information Return of Tip Income and Allocated Tips (Form 8027-T).
Forms: 8027, 8027-T.
Description: To help IRS in its examination of returns filed by
tipped employees large food or beverage establishments are required to
report annually information concerning food or beverage operations
receipts, tips, reported by employees, and in certain cases, the
employer must allocate tips to certain employees.
Respondents: Businesses or other for-profit institutions.
Estimated Total Burden Hours: 488,161 hours.
OMB Number: 1545-1675.
Type of Review: Extension.
Title: REG-122450-98 (Final) Real Estate Mortgage Investment
Conduits; REG-100276-97; REG-122450-98 (NPRM) Financial Asset
Securitization Investment Trusts; Real Estate Mortgage Investment (TD
9004).
Description: REG-122450-98 Sections 1.860E-1(c)(4)-(10) of the
Treasury Regulations provide circumstances under which a transferor of
a noneconomic residual interest in a Real Estate Mortgage Investment
Conduit (REMIC) meeting the investigation, and two representation
requirements may avail itself of the safe harbor by satisfying either
the formula test or asset test. REG-100276-97; REG-122450-98 This
regulation provides start-up and transitional rules applicable to
financial asset securitization investment trust.
Respondents: Businesses or other for-profit institutions.
Estimated Total Burden Hours: 1,220 hours.
OMB Number: 1545-0619.
Type of Review: Extension.
Title: Credit for Increasing Research Activities.
Forms: 6765.
Description: IRC section 38 allows a credit against income tax
(determined under IRC section 41) for an increase in research
activities in a trade or business. Form 6765 is used by businesses
individuals engaged in a trade or business to figure and report the
credit. The data is used to verify that the credit claimed is correct.
Respondents: Businesses or other for-profit institutions.
Estimated Total Burden Hours: 338,227 hours.
OMB Number: 1545-1218.
Type of Review: Extension.
Title: CO-25-96 (TD 8824--Final) Regulations Under Section 1502 of
the Internal Revenue Code of 1986; Limitations on Net Operating Loss
Carryforwards and Certain Built-in Losses and Credits Following.
Description: Section 1502 provides for the promulgation of
regulations with respect to corporations that file consolidated income
tax returns. Section 382 limits the amount of income that can be offset
by loss carryovers and credits after an ownership change. These final
regulations provide rules for applying section 382 to groups of
corporations that file a consolidated return.
Respondents: Businesses or other for-profit institutions.
Estimated Total Burden Hours: 662 hours.
OMB Number: 1545-1518.
Type of Review: Extension.
Title: HSA, Archer MSA, or Medicare Advantage MSA Information.
Forms: 5498-SA.
Description: Section 220(h) requires trustees to report to the IRS
and medical savings accountholders contributions to and the year-end
fair market value of any contributions made to a medical savings
account (MSA). Congress requires Treasury to report to them the total
contributions made to an MSA for the current tax year. Section 1201 of
the Medicare prescription Drug, Improvement, and Modernization Act of
2003 (P.L. 108-173) created new Code section 223. Section 223(h)
requires the reporting of contributions to and the year-end fair market
value of health savings accounts for tax years beginning after December
31, 2003.
Respondents: Businesses or other for-profit institutions.
Estimated Total Burden Hours: 6,988 hours.
OMB Number: 1545-1424.
Type of Review: Revision.
Title: Cancellation of Debt.
Forms: 1099-C.
Description: Form 1099-C is used for reporting canceled debt, as
required by section 6050P of the Internal Revenue Code. It is used to
verify that debtors are correctly reporting their income.
Respondents: Businesses or other for-profit institutions.
Estimated Total Burden Hours: 102,939 hours.
OMB Number: 1545-1492.
Type of Review: Extension.
Title: Request for Closing Agreement Relating to Advance Refunding
Issue Under Sections 148 and 7121 and Revenue Procedure 96-41.
Forms: 10001.
Description: Form 10001 is used in conjunction with a closing
agreement program involving certain issuers of tax-exempt advance
refunding bonds. Revenue Procedure 96-41 established this voluntary
compliance program and prescribed the filing of Form 10001 to request a
closing agreement.
Respondents: State, local, and Tribal Governments.
Estimated Total Burden Hours: 300 hours.
OMB Number: 1545-0184.
Type of Review: Extension.
Title: Sales of Business Property.
Forms: 4797.
Description: Form 4797 is used by taxpayers to report sales,
exchanges, or involuntary conversion of assets, other than capital
assets, and involuntary conversion of capital assets held more than one
year. It is also used to compute ordinary income from recapture and the
recapture of prior year section 1231 losses.
Respondents: Individuals or Households.
Estimated Total Burden Hours: 100,633,248 hours.
OMB Number: 1545-0120.
Type of Review: Extension.
Title: Certain Government Payments.
Forms: 1099-G.
Description: Form 1099-G is used by governments (primarily state
and local) to report to the IRS (and notify recipients of) certain
payments (e.g., unemployment compensation and income tax refunds). IRS
uses the information to insure that the income is being properly
reported by the recipients on their returns.
Respondents: Federal Government.
Estimated Total Burden Hours: 12,200,000 hours.
OMB Number: 1545-1091.
Type of Review: Extension.
Title: Corporate Passive Activity Loss and Credit Limitations.
Forms: 8810.
Description: Under section 469, losses and credits from passive
activities, to the extent they exceed passive income (or, in the case
of credits, the tax attributable to met passive income), are not
allowed. Form 8810 is used by personal service corporations and closely
held corporations to figure the passive activity loss and credits
allowed and the amount of loss and credit to be reported on their tax
return.
Respondents: Businesses or other for-profit institutions.
[[Page 57409]]
Estimated Total Burden Hours: 3,749,000 hours.
OMB Number: 1545-1012.
Type of Review: Extension.
Title: Salary Reduction Simplified Employee Pension-Individual
Retirement Accounts Contribution Agreement.
Forms: FORM-5305A-SEP.
Description: Form 5305-A-SEP is used by an employer to make an
agreement to provide benefits to all employees under a salary reduction
Simplified Employee Pension (SEP) described in section 408(k). This
form is not to be filed with IRS, but is to be retained in the
employer's records as proof of establishing such a plan, thereby
justifying a deduction for contributions made to the SEP. The data is
used to verify the deduction.
Respondents: Businesses or other for-profit institutions.
Estimated Total Burden Hours: 972,000 hours.
OMB Number: 1545-0928.
Type of Review: Extension.
Title: REG-124667-02 (Final) Disclosure of Relative Values of
Optional Forms of Benefit; EE-35-85 (Final) Income Tax: Taxable Years
Beginning After December 31, 1953; OMB Control Number Under The.
Description: These final regulations are required by statute and
must be provided by employers to retirement plan participants to inform
participants of their rights under the plan or under the law. Failure
to timely notify participant of their rights may result in loss of plan
benefits.
Respondents: Businesses or other for-profit institutions.
Estimated Total Burden Hours: 385,000 hours.
OMB Number: 1545-0967.
Type of Review: Extension.
Title: U.S. Estate or Trust Income Tax Declaration and Signature
for Electronic and Magnetic Media Filing.
Forms: 8879-F, 8453-F.
Description: This form is used to secure taxpayer signatures and
declarations in conjunction with electronic and magnetic media filing
of trust and fiduciary income tax returns. This form, together with the
electronic and magnetic media transmission, will comprise the
taxpayer's income tax return (Form 1041).
Respondents: Businesses or other for-profit institutions.
Estimated Total Burden Hours: 1,750 hours.
OMB Number: 1545-0238.
Type of Review: Extension.
Title: Certain Gambling Winnings.
Forms: W-2G.
Description: IRC section 6041 requires payers of certain gambling
winnings to report them to IRS. If applicable, section 3402(g) and
section 3406 require tax withholding on these winnings. We use the
information to ensure taxpayer income reporting compliance.
Respondents: Businesses or other for-profit institutions.
Estimated Total Burden Hours: 1,272,479 hours.
OMB Number: 1545-1008.
Type of Review: Extension.
Title: Passive Activity Loss Limitations.
Forms: 8582.
Description: Under Internal Revenue Code section 469, losses from
passive activities, to the extent that they exceed income from passive
activities, cannot be deducted against nonpassive income. Form 8582 is
used to figure the passive activity loss allowed and the loss to be
reported on the tax return.
Respondents: Businesses or other for-profit institutions.
Estimated Total Burden Hours: 11,373,963 hours.
OMB Number: 1545-1150.
Type of Review: Revision.
Title: Short Form Return of Organization Exempt From Income Tax.
Forms: 990-EZ, Schedule A (Form 990 or 990-EZ), Schedule B (Form
990, 990-EZ or 990-PF), Schedule C (Form 990 or 990-EZ), Schedule E
(Form 990 or 990-EZ), Schedule G (Form 990 or 990-EZ), Schedule L (Form
990 or 990-EZ), Schedule N (Form 990 or 990-EZ).
Description: Form 990-EZ is needed to determine that IRS section
501(a) tax-exempt organizations fulfill the operating conditions within
the limitations of their tax exemption. IRS uses the information from
this form to determine if the filers are operating within the rules of
their exemption.
Respondents: Not-for-profit institutions.
Estimated Total Burden Hours: 43,656,636 hours.
OMB Number: 1545-1257.
Type of Review: Extension.
Title: Credit for Prior Year Minimum Tax--Corporations.
Forms: 8827.
Description: Section 53(d), as revised, allows corporations a
minimum tax credit based on the full amount of alternative minimum tax
incurred in tax years beginning after 1989, or a carryforward for use
in a future year.
Respondents: Businesses or other for-profit institutions.
Estimated Total Burden Hours: 25,000 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. E8-23179 Filed 10-1-08; 8:45 am]
BILLING CODE 4830-01-P
