Proposed Collection; Comment Request for Regulation Project, 11815 [E9-5963]
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Federal Register / Vol. 74, No. 52 / Thursday, March 19, 2009 / Notices
sroberts on PROD1PC70 with NOTICES
treatment for transfers of securities
pursuant to a securities lending
agreement. The agreement must be in
writing and is used by the taxpayer, in
a tax audit situation, to justify
nonrecognition treatment of gain or loss
on the exchange of the securities.
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, individuals, and
not-for-profit institutions.
Estimated Number of Respondents:
11,742.
Estimated Time Per Respondent: 50
minutes.
Estimated Total Annual Burden
Hours: 9,781.
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: March 9, 2009.
R. Joseph Durbala,
IRS Reports Clearance Officer.
[FR Doc. E9–5949 Filed 3–18–09; 8:45 am]
BILLING CODE 4830–01–P
VerDate Nov<24>2008
17:17 Mar 18, 2009
Jkt 217001
DEPARTMENT OF THE TREASURY
Internal Revenue Service
[FI–7–94; FI–36–92]
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 existing
final regulations, FI–7–94 (TD 8718; TD
8538) and FI–36–92 (TD 8476),
Arbitrage Restrictions on Tax-Exempt
Bonds (Sec. Sec. 1.148–2, 1.148–3,
1.148–4, 1.148–7, and 1.148–11).
DATES: Written comments should be
received on or before May 18, 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 regulations should be directed
to R. Joseph Durbala, at (202) 622–3634,
or 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: Arbitrage Restrictions on TaxExempt Bonds.
OMB Number: 1545–1347.
Regulation Project Numbers: FI–36–
92; FI–7–94.
Abstract: Section 148 of the Internal
Revenue Code requires issuers of taxexempt bonds to rebate certain arbitrage
profits earned on nonpurpose
investments acquired with the bond
proceeds. Under FI–36–92, issuers are
required to file a Form 8038–T and
remit the rebate.
Issuers are also required to keep
records of certain interest rate hedges so
that the hedges are taken into account
in determining arbitrage profits. Under
FI–7–94, the scope of interest rate
hedging transactions covered by the
arbitrage regulations was broadened by
requiring that hedges entered into prior
to the sale date of the bonds are covered
as well.
PO 00000
Frm 00107
Fmt 4703
Sfmt 4703
11815
Current Actions: There is no change to
these existing regulations.
Type of Review: Extension of a
currently approved collection.
Affected Public: State, local or Tribal
governments.
Estimated Number of Respondents:
3,100.
Estimated Time per Respondent: 14
hr., 34 min.
Estimated Total Annual Burden
Hours: 42,050.
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
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: March 3, 2009.
R. Joseph Durbala,
IRS Reports Clearance Officer.
[FR Doc. E9–5963 Filed 3–18–09; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
[IA–14–91]
Proposed Collection; Comment
Request for Regulation Project
AGENCY: Internal Revenue Service (IRS),
Treasury.
E:\FR\FM\19MRN1.SGM
19MRN1
]]>Agencies
[Federal Register Volume 74, Number 52 (Thursday, March 19, 2009)]
[Notices]
[Page 11815]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-5963]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
[FI-7-94; FI-36-92]
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
existing final regulations, FI-7-94 (TD 8718; TD 8538) and FI-36-92 (TD
8476), Arbitrage Restrictions on Tax-Exempt Bonds (Sec. Sec. 1.148-2,
1.148-3, 1.148-4, 1.148-7, and 1.148-11).
DATES: Written comments should be received on or before May 18, 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 regulations should be directed to R. Joseph Durbala, at (202)
622-3634, or 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: Arbitrage Restrictions on Tax-Exempt Bonds.
OMB Number: 1545-1347.
Regulation Project Numbers: FI-36-92; FI-7-94.
Abstract: Section 148 of the Internal Revenue Code requires issuers
of tax-exempt bonds to rebate certain arbitrage profits earned on
nonpurpose investments acquired with the bond proceeds. Under FI-36-92,
issuers are required to file a Form 8038-T and remit the rebate.
Issuers are also required to keep records of certain interest rate
hedges so that the hedges are taken into account in determining
arbitrage profits. Under FI-7-94, the scope of interest rate hedging
transactions covered by the arbitrage regulations was broadened by
requiring that hedges entered into prior to the sale date of the bonds
are covered as well.
Current Actions: There is no change to these existing regulations.
Type of Review: Extension of a currently approved collection.
Affected Public: State, local or Tribal governments.
Estimated Number of Respondents: 3,100.
Estimated Time per Respondent: 14 hr., 34 min.
Estimated Total Annual Burden Hours: 42,050.
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
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: March 3, 2009.
R. Joseph Durbala,
IRS Reports Clearance Officer.
[FR Doc. E9-5963 Filed 3-18-09; 8:45 am]
BILLING CODE 4830-01-P
