Proposed Collection; Comment Request for Regulation Project, 2652 [E9-760]
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Federal Register / Vol. 74, No. 10 / Thursday, January 15, 2009 / Notices
DEPARTMENT OF THE TREASURY
Internal Revenue Service
[FI–81–86]
Proposed Collection; Comment
Request for Regulation Project
jlentini on PROD1PC65 with NOTICES
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 an
existing final regulation, FI–81–86 (TD
8513), Bad Debt reserves of Banks
(§ 1.585–8).
DATES: Written comments should be
received on or before March 16, 2009 to
be assured of consideration.
ADDRESSES: Direct all written comments
to R. Joseph Durbala, 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: Bad Debt Reserves of Banks.
OMB Number: 1545–1290.
Regulation Project Number: FI–81–86.
Abstract: Section 585(c) of the
Internal Revenue Code requires large
banks to change from reserve method of
accounting to the specific charge off
method of accounting for bad debts.
Section 1.585–8 of the regulation
contains reporting requirements in cases
in which large banks elect (1) to include
in income an amount greater than that
prescribed by the Code; (2) to use the
elective cut-off method of accounting: or
(3) to revoke any elections previously
made.
Current Actions: There is no change to
these existing regulations.
Type of Review: Extension of
currently approved collection.
Affected Public: Business or other forprofit organizations.
Estimated Number of Respondents:
2,500.
VerDate Nov<24>2008
18:58 Jan 14, 2009
Jkt 217001
Estimated Time per Respondent: 15
min.
Estimated Total Annual Burden
Hours: 625.
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: December 15, 2008.
R. Joseph Durbala,
IRS Reports Clearance Officer.
[FR Doc. E9–760 Filed 1–14–09; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
[FI–27–89; FI–61–91]
Proposed Collection; Comment
Request For Regulation Project
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
PO 00000
Frm 00145
Fmt 4703
Sfmt 4703
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 an
existing final regulations, FI–27–89 (TD
8366), Real Estate Mortgage Conduits;
Reporting Requirements and Other
Administrative Matters, and FI–61–91
(TD 8431), Allocation of Allocable
Investment Expense; Original Issue
Discount Reporting Requirements
(§§ 1.67–3, 1.860D–4, 1.860F–4, 1.6049–
4 and 1.6049–7).
DATES: Written comments should be
received on or before March 16, 2009 to
be assured of consideration.
ADDRESSES: Direct all written comments
to R. Joseph Durbala, Internal Revenue
Service, Room 6129, 1111 Constitution
Avenue, NW., Washington, DC 20224.
FOR FURTHER INFORMATION CONTACT:
Requests for additional information or
copies of this regulation should be
directed to Allan Hopkins, at (202) 622–
6665, or at Internal Revenue Service,
Room 6129, 1111 Constitution Avenue,
NW., Washington, DC 20224, or through
the Internet, at
Allan.M.Hopkins@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: FI–27–89, Real Estate Mortgage
Investment Conduits; Reporting
Requirements and Other Administrative
Matters, and FI–61–91, Allocation of
Allocable Investment Expense; Original
Issue Discount Reporting Requirements.
OMB Number: 1545–1018.
Regulation Project Number: FI–27–89
and FI–61–91.
Abstract: The regulations prescribe
the manner in which an entity elects to
be taxed as a real estate mortgage
investment conduit (REMIC) and the
filing requirements for REMICs and
certain brokers.
Current Actions: There is no change to
these existing regulations.
Type of Review: Extension of a
currently approved collection.
Affected Public: Business or other forprofit organizations.
Estimated Number of Respondents:
655.
Estimated Time per Respondent: 1
hour, 30 minutes.
Estimated Total Annual Burden
Hours: 978.
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.
E:\FR\FM\15JAN1.SGM
15JAN1
]]>Agencies
[Federal Register Volume 74, Number 10 (Thursday, January 15, 2009)]
[Notices]
[Page 2652]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-760]
[[Page 2652]]
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
[FI-81-86]
Proposed Collection; Comment Request for Regulation Project
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 an
existing final regulation, FI-81-86 (TD 8513), Bad Debt reserves of
Banks (Sec. 1.585-8).
DATES: Written comments should be received on or before March 16, 2009
to be assured of consideration.
ADDRESSES: Direct all written comments to R. Joseph Durbala, 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: Bad Debt Reserves of Banks.
OMB Number: 1545-1290.
Regulation Project Number: FI-81-86.
Abstract: Section 585(c) of the Internal Revenue Code requires
large banks to change from reserve method of accounting to the specific
charge off method of accounting for bad debts. Section 1.585-8 of the
regulation contains reporting requirements in cases in which large
banks elect (1) to include in income an amount greater than that
prescribed by the Code; (2) to use the elective cut-off method of
accounting: or (3) to revoke any elections previously made.
Current Actions: There is no change to these existing regulations.
Type of Review: Extension of currently approved collection.
Affected Public: Business or other for-profit organizations.
Estimated Number of Respondents: 2,500.
Estimated Time per Respondent: 15 min.
Estimated Total Annual Burden Hours: 625.
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: December 15, 2008.
R. Joseph Durbala,
IRS Reports Clearance Officer.
[FR Doc. E9-760 Filed 1-14-09; 8:45 am]
BILLING CODE 4830-01-P
