Proposed Collection; Comment Request for Regulation Project, 9692-9693 [E9-4689]

Download as PDF 9692 Federal Register / Vol. 74, No. 42 / Thursday, March 5, 2009 / Notices DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Form 5472 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 Form 5472, Information Return of a 25% Foreign-Owned U.S. Corporation or a Foreign Corporation Engaged in a U.S. Trade or Business. DATES: Written comments should be received on or before May 4, 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 form and instructions should be directed to Carolyn N. Brown, at (202) 622–6688, Internal Revenue Service, room 6129, 1111 Constitution Avenue NW., Washington, DC 20224 or through the internet at Carolyn.N.Brown@irs.gov. jlentini on PROD1PC65 with NOTICES SUPPLEMENTARY INFORMATION: Title: Information Return of a 25% Foreign-Owned U.S. Corporation or a Foreign Corporation Engaged in a U.S. Trade or Business. OMB Number: 1545–0805. Form Number: 5472. Abstract: Form 5472 is used to report information about transactions between a U.S. corporation that is 25% foreign owned or a foreign corporation that is engaged in a U.S. trade or business and related foreign parties. The IRS uses Form 5472 to determine if inventory or other costs deducted by the U.S. or foreign corporation are correct. Current Actions: Due to a 2007 revision of Form 5472, a line item was added causing the burden to decrease to 2,544,784. Type of Review: Revision of a currently approved collection. Affected Public: Business or other forprofit organizations. VerDate Nov<24>2008 16:13 Mar 04, 2009 Jkt 217001 Estimated Number of Responses: 103,784. Estimated Time Per Response: 24 hrs. 31 min. Estimated Total Annual Burden Hours: 2,544,784. 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: February 13, 2009. R. Joseph Durbala, IRS Reports Clearance Officer. [FR Doc. E9–4688 Filed 3–4–09; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service [REG–125071–06 (TD 9308)] 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 PO 00000 Frm 00109 Fmt 4703 Sfmt 4703 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 a final Regulation 125071–06 (TD 9308), Reporting Requirements for Widely Held Fixed Investment Trusts (§ 1.671–5). DATES: Written comments should be received on or before May 4, 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 regulation should be directed to Carolyn N. Brown, (202) 622–6688, Internal Revenue Service, room 6129, 1111 Constitution Avenue NW., Washington, DC 20224, or through the Internet at Carolyn.N.Brown@irs.gov. SUPPLEMENTARY INFORMATION: Title: Reporting Requirements for Widely Held Fixed Investment Trusts. OMB Number: 1545–1540. Regulation Project Number: REG– 125071–06 (TD 9308). Abstract: Under regulation section 1.671–5, the trustee or the middleman who holds an interest in a widely held fixed investment trust for an investor will be required to provide a Form 1099 to the IRS and a tax information statement to the investor. The trust is also required to provide more detailed tax information to middlemen and certain other persons, upon request. Current Actions: There is no change to this existing regulation. Type of Review: Extension of a currently approved collection. Affected Public: Business or other forprofit organizations. Estimated Number of Respondents: 1,200. Estimated Time per Respondent: 2 hours. Estimated Total Annual Burden Hours: 2,400. 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 E:\FR\FM\05MRN1.SGM 05MRN1 Federal Register / Vol. 74, No. 42 / Thursday, March 5, 2009 / Notices 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: February 25, 2009. R. Joseph Durbala, IRS Reports Clearance Officer. [FR Doc. E9–4689 Filed 3–4–09; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Form 8832 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 Form 8832, Entity Classification Election. DATES: Written comments should be received on or before May 4, 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 VerDate Nov<24>2008 16:13 Mar 04, 2009 Jkt 217001 copies of the form and instructions should be directed to Carolyn N. Brown, (202) 622–6688, at Internal Revenue Service, room 6129, 1111 Constitution Avenue, NW., Washington, DC 20224, or through the Internet at Carolyn.N.Brown@irs.gov. SUPPLEMENTARY INFORMATION: Title: Entity Classification Election. OMB Number: 1545–1516. Form Number: Form 8832. Abstract: An eligible entity that chooses not to be classified under the default rules or that wishes to change its current classification must file Form 8832 to elect a classification. 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: 5,000. Estimated Time per Respondent: 4 hours 38 minutes. Estimated Total Annual Burden Hours: 23,200. 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. PO 00000 Frm 00110 Fmt 4703 Sfmt 4703 9693 Approved: February 13, 2009. R. Joseph Durbala, IRS Reports Clearance Officer. [FR Doc. E9–4690 Filed 3–4–09; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Open Meeting of the Area 1 Taxpayer Advocacy Panel (Including the States of New York, Connecticut, Massachusetts, Rhode Island, New Hampshire, Vermont and Maine) AGENCY: Internal Revenue Service (IRS) Treasury. ACTION: Notice of meeting. SUMMARY: An open meeting of the Area 1 Taxpayer Advocacy Panel will be conducted. The Taxpayer Advocacy Panel is soliciting public comments, ideas and suggestions on improving customer service at the Internal Revenue Service. DATES: The meeting will be held Tuesday, April 21, 2009. FOR FURTHER INFORMATION CONTACT: Audrey Y. Jenkins at 1–888–912–1227 or 718–488–2085. Notice is hereby given pursuant to section 10(a)(2) of the Federal Advisory Committee Act, 5 U.S.C. App. (1988) that an open meeting of the Area 1 Taxpayer Advocacy Panel will be held Tuesday, April 21, 2009, at 10 a.m. Eastern Time via telephone conference. The public is invited to make oral comments or submit written statements for consideration. Due to limited conference lines, notification of intent to participate must be made with Audrey Y. Jenkins. For more information please contact Ms. Jenkins at 1–888–912–1227 or 718–488–2085, or write TAP Office, 10 MetroTech Center, 625 Fulton Street, Brooklyn, NY 11201, or contact us at the Web site: https:// www.improveirs.org. The agenda will include various IRS issues. SUPPLEMENTARY INFORMATION: Dated: February 26, 2009. Shawn F. Collins, Acting Director, Taxpayer Advocacy Panel. [FR Doc. E9–4684 Filed 3–4–09; 8:45 am] BILLING CODE 4830–01–P E:\FR\FM\05MRN1.SGM 05MRN1

Agencies

[Federal Register Volume 74, Number 42 (Thursday, March 5, 2009)]
[Notices]
[Pages 9692-9693]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-4689]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

[REG-125071-06 (TD 9308)]


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 a 
final Regulation 125071-06 (TD 9308), Reporting Requirements for Widely 
Held Fixed Investment Trusts (Sec.  1.671-5).

DATES: Written comments should be received on or before May 4, 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 regulation should be directed to Carolyn N. Brown, (202) 
622-6688, Internal Revenue Service, room 6129, 1111 Constitution Avenue 
NW., Washington, DC 20224, or through the Internet at 
Carolyn.N.Brown@irs.gov.

SUPPLEMENTARY INFORMATION:
    Title: Reporting Requirements for Widely Held Fixed Investment 
Trusts.
    OMB Number: 1545-1540.
    Regulation Project Number: REG-125071-06 (TD 9308).
    Abstract: Under regulation section 1.671-5, the trustee or the 
middleman who holds an interest in a widely held fixed investment trust 
for an investor will be required to provide a Form 1099 to the IRS and 
a tax information statement to the investor. The trust is also required 
to provide more detailed tax information to middlemen and certain other 
persons, upon request.
    Current Actions: There is no change to this existing regulation.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents: 1,200.
    Estimated Time per Respondent: 2 hours.
    Estimated Total Annual Burden Hours: 2,400.
    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

[[Page 9693]]

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: February 25, 2009.
R. Joseph Durbala,
IRS Reports Clearance Officer.
[FR Doc. E9-4689 Filed 3-4-09; 8:45 am]
BILLING CODE 4830-01-P

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