Proposed Collection; Comment Request for REG-106486-98 (TD 9157-Final), 73389 [E8-28524]

Download as PDF Federal Register / Vol. 73, No. 232 / Tuesday, December 2, 2008 / Notices Type of Review: Revision of a currently approved collection. Affected Public: Tax Exempt organizations, Employee plans, tax exempt bonds, or government entities. Estimated Number of Respondents: 9,000. Estimated Time Per Respondent: 4 hours 10 minutes. Estimated Total Annual Burden Hours: 37,530. The following paragraph applies to all of the collections of information covered by this notice: An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless the collection of information displays a valid OMB control number. Books or records relating to a collection of information must be retained as long as their contents may become material in the administration of any internal revenue law. Generally, tax returns and tax return information are confidential, as required by 26 U.S.C. 6103. Request for Comments: Comments submitted in response to this notice will be summarized and/or included in the request for OMB approval. All comments will become a matter of public record. Comments are invited on: (a) Whether the collection of information is necessary for the proper performance of the functions of the agency, including whether the information shall have practical utility; (b) the accuracy of the agency’s estimate of the burden of the collection of information; (c) ways to enhance the quality, utility, and clarity of the information to be collected; (d) ways to minimize the burden of the collection of information on respondents, including through the use of automated collection techniques or other forms of information technology; and (e) estimates of capital or start-up costs and costs of operation, maintenance, and purchase of services to provide information. Approved: November 21, 2008. R. Joseph Durbala, IRS Reports Clearance Officer. [FR Doc. E8–28523 Filed 12–1–08; 8:45 am] jlentini on PROD1PC65 with NOTICES BILLING CODE 4830–01–P VerDate Aug<31>2005 20:52 Dec 01, 2008 Jkt 217001 DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for REG–106486–98 (TD 9157– Final) 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 REG– 106486–98 (TD 9157– Final), Guidance Regarding the Treatment of Certain Contingent Payment Debt Instructions with one or more Payments that are Denominated in, or Determined by Reference to, a Nonfunctional Currency. DATES: Written comments should be received on or before February 2, 2009 to be assured of consideration. ADDRESSES: Direct all written comments to Glenn P. Kirkland, Internal Revenue Service, room 6129, 1111 Constitution Avenue NW., Washington, DC 20224. FOR FURTHER INFORMATION CONTACT: Requests for additional information or copies of the form and instructions should be directed to R. Joseph Durbala, (202) 622–3634, at Internal Revenue Service, room 6129, 1111 Constitution Avenue NW., Washington, DC 20224, or through the Internet at RJoseph.Durbala@irs.gov. SUPPLEMENTARY INFORMATION: Title: Guidance Regarding the Treatment of Certain Contingent Payment Debt Instructions with one or more Payments that are Denominated in, or Determined by Reference to, a Nonfunctional Currency. OMB Number: 1545–1831. Form Number: REG–106486–98 (TD 9157 Final). Abstract: This document contains final regulations regarding the treatment of contingent payment debt instruments for which one or more payments are denominated in, or determined by reference to, a currency other than the taxpayer’s functional currency. These regulations are necessary because PO 00000 Frm 00150 Fmt 4703 Sfmt 4703 73389 current regulations do not provide guidance concerning the tax treatment of such instruments. The regulations affect issuers and holders of such instruments. Current Actions: There is no change in the paperwork burden previously approved by OMB. This form is being submitted for renewal purposes only. Type of Review: Extension of a currently approved collection. Affected Public: Businesses and other for-profit organizations, Farms. Estimated Number of Respondents: 100. Estimated Time Per Respondent: 1 hour. Estimated Total Annual Burden Hours: 100. The following paragraph applies to all of the collections of information covered by this notice: An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless the collection of information displays a valid OMB control number. Books or records relating to a collection of information must be retained as long as their contents may become material in the administration of any internal revenue law. Generally, tax returns and tax return information are confidential, as required by 26 U.S.C. 6103. Request for Comments: Comments submitted in response to this notice will be summarized and/or included in the request for OMB approval. All comments will become a matter of public record. Comments are invited on: (a) Whether the collection of information is necessary for the proper performance of the functions of the agency, including whether the information shall have practical utility; (b) the accuracy of the agency’s estimate of the burden of the collection of information; (c) ways to enhance the quality, utility, and clarity of the information to be collected; (d) ways to minimize the burden of the collection of information on respondents, including through the use of automated collection techniques or other forms of information technology; and (e) estimates of capital or start-up costs and costs of operation, maintenance, and purchase of services to provide information. Approved: November 21, 2008. R. Joseph Durbala, IRS Reports Clearance Officer. [FR Doc. E8–28524 Filed 12–1–08; 8:45 am] BILLING CODE 4830–01–P E:\FR\FM\02DEN1.SGM 02DEN1

Agencies

[Federal Register Volume 73, Number 232 (Tuesday, December 2, 2008)]
[Notices]
[Page 73389]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-28524]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for REG-106486-98 (TD 9157-
Final)

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 
REG-106486-98 (TD 9157- Final), Guidance Regarding the Treatment of 
Certain Contingent Payment Debt Instructions with one or more Payments 
that are Denominated in, or Determined by Reference to, a Nonfunctional 
Currency.

DATES: Written comments should be received on or before February 2, 
2009 to be assured of consideration.

ADDRESSES: Direct all written comments to Glenn P. Kirkland, Internal 
Revenue Service, room 6129, 1111 Constitution Avenue NW., Washington, 
DC 20224.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the form and instructions should be directed to R. Joseph 
Durbala, (202) 622-3634, at Internal Revenue Service, room 6129, 1111 
Constitution Avenue NW., Washington, DC 20224, or through the Internet 
at RJoseph.Durbala@irs.gov.

SUPPLEMENTARY INFORMATION:
    Title: Guidance Regarding the Treatment of Certain Contingent 
Payment Debt Instructions with one or more Payments that are 
Denominated in, or Determined by Reference to, a Nonfunctional 
Currency.
    OMB Number: 1545-1831.
    Form Number: REG-106486-98 (TD 9157 Final).
    Abstract: This document contains final regulations regarding the 
treatment of contingent payment debt instruments for which one or more 
payments are denominated in, or determined by reference to, a currency 
other than the taxpayer's functional currency. These regulations are 
necessary because current regulations do not provide guidance 
concerning the tax treatment of such instruments. The regulations 
affect issuers and holders of such instruments.
    Current Actions: There is no change in the paperwork burden 
previously approved by OMB. This form is being submitted for renewal 
purposes only.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Businesses and other for-profit organizations, 
Farms.
    Estimated Number of Respondents: 100.
    Estimated Time Per Respondent: 1 hour.
    Estimated Total Annual Burden Hours: 100.
    The following paragraph applies to all of the collections of 
information covered by this notice:
    An agency may not conduct or sponsor, and a person is not required 
to respond to, a collection of information unless the collection of 
information displays a valid OMB control number. Books or records 
relating to a collection of information must be retained as long as 
their contents may become material in the administration of any 
internal revenue law. Generally, tax returns and tax return information 
are confidential, as required by 26 U.S.C. 6103.
    Request for Comments: Comments submitted in response to this notice 
will be summarized and/or included in the request for OMB approval. All 
comments will become a matter of public record. Comments are invited 
on: (a) Whether the collection of information is necessary for the 
proper performance of the functions of the agency, including whether 
the information shall have practical utility; (b) the accuracy of the 
agency's estimate of the burden of the collection of information; (c) 
ways to enhance the quality, utility, and clarity of the information to 
be collected; (d) ways to minimize the burden of the collection of 
information on respondents, including through the use of automated 
collection techniques or other forms of information technology; and (e) 
estimates of capital or start-up costs and costs of operation, 
maintenance, and purchase of services to provide information.

    Approved: November 21, 2008.
R. Joseph Durbala,
IRS Reports Clearance Officer.
 [FR Doc. E8-28524 Filed 12-1-08; 8:45 am]
BILLING CODE 4830-01-P