Proposed Collection; Comment Request for Regulation Project, 23244-23245 [E9-11448]

Download as PDF 23244 Federal Register / Vol. 74, No. 94 / Monday, May 18, 2009 / Notices copies of the form and instructions should be directed to Carolyn N. Brown, at (202) 622–6688, or at Internal Revenue Service, room 6129, 1111 Constitution Avenue, NW., Washington, DC 20224, or through the Internet, at Carolyn.N.Brown@irs.gov. cprice-sewell on PRODPC61 with NOTICES SUPPLEMENTARY INFORMATION: Title: Election To Postpone Determination as To Whether the Presumption Applies That an Activity Is Engaged in for Profit. OMB Number: 1545–0195. Form Number: 5213. Abstract: Section 183 of the Internal Revenue Code allows taxpayers to elect to postpone a determination as to whether an activity is entered into for profit or is in the nature of a nondeductible hobby. The election is made on Form 5213 and allows taxpayers 5 years (7 years for breeding, training, showing, or racing horses) to show a profit from an activity. Current Actions: There are no changes being made to the form at this time. Type of Review: Extension of a currently approved collection. Affected Public: Business or other forprofit organizations and individuals. Estimated Number of Respondents: 3,541. Estimated Time Per Respondent: 47 minutes. Estimated Total Annual Burden Hours: 2,762. 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 VerDate Nov<24>2008 14:36 May 15, 2009 Jkt 217001 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: May 1, 2009. R. Joseph Durbala, IRS Reports Clearance Officer. [FR Doc. E9–11454 Filed 5–15–09; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service [EE–63–88; IA–140–86; REG–209785–95] 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 regulations, EE–63–88 (Final and temporary regulations) Taxation of Fringe Benefits and Exclusions From Gross Income for Certain Fringe Benefits; IA–140–86 (Temporary) Fringe Benefits; Listed Property; and REG– 209785–95 (Final) Substantiation of Business Expenses (1.61–2, 1.132–5, and 1.274–5). DATES: Written comments should be received on or before July 17, 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 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: EE–63–88 (Final and temporary regulations) Taxation of Fringe Benefits and Exclusions From Gross Income for PO 00000 Frm 00078 Fmt 4703 Sfmt 4703 Certain Fringe Benefits; IA–140–86 (Temporary) Fringe Benefits; Listed Property; and REG–209785–95 (Final) Substantiation of Business Expenses. OMB Number: 1545–0771. Regulation Project Number: EE–63– 88; IA–140–86; and REG–209785–95. Abstract: EE–63–88—This regulation provides guidance on the tax treatment of taxable and nontaxable fringe benefits and general and specific rules for the valuation of taxable fringe benefits in accordance with Code sections 61 and 132. The regulation also provides guidance on exclusions from gross income for certain fringe benefits. IA– 140–86—This regulation provides guidance relating to the requirement that any deduction or credit with respect to business travel, entertainment, and gift expenses be substantiated with adequate records in accordance with Code section 274(d). The regulation also provides guidance on the taxation of fringe benefits and clarifies the types of records that are generally necessary to substantiate any deduction or credit for listed property. REG–209785–95—This regulation provides that taxpayers who deduct, or reimburse employees for, business expenses for travel, entertainment, gifts, or listed property are required to maintain certain records, including receipts, for expenses of $75 or more. Current Actions: There are no changes to these existing regulations. Type of Review: Extension of a currently approved collection. Affected Public: Individuals or households, business or other for-profit organizations, not-for-profits institutions, farms and Federal, State, local or tribal governments. Estimated Number of Respondents: 28,582,150. Estimated Time per Respondent: 1 hr., 20 min. Estimated Total Annual Burden Hours: 37,922,688. 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 E:\FR\FM\18MYN1.SGM 18MYN1 Federal Register / Vol. 74, No. 94 / Monday, May 18, 2009 / Notices 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: May 7, 2009. R. Joseph Durbala, IRS Reports Clearance Officer. [FR Doc. E9–11448 Filed 5–15–09; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Notice 2009–41 cprice-sewell on PRODPC61 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 Notice 2009–41, Credit for Residential Energy Efficient Property. DATES: Written comments should be received on or before July 17, 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, VerDate Nov<24>2008 14:36 May 15, 2009 Jkt 217001 or through the Internet at RJoseph.Durbala@irs.gov. SUPPLEMENTARY INFORMATION: Title: Credit for Residential Energy Efficient Property. OMB Number: 1545–2134. Form Number: Notice 2009–41. Abstract: This notice sets forth interim guidance, pending the issuance of regulations, relating to the credit for residential energy efficient property under 25D of the Internal Revenue Code. Specifically, this notice provides procedures that manufacturers may follow to certify property as a qualified residential energy efficient property, as well as guidance regarding the conditions under which taxpayers seeking to claim the 25D credit may rely on a manufacturer’s certification. The Internal Revenue Service (Service) and the Treasury Department expect that the regulations will incorporate the rules set forth in this notice. 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: Individuals, Businesses and other for-profit organizations. Estimated Number of Respondents: 140. Estimated Time Per Respondent: 2 Hours, 30 minutes. Estimated Total Annual Burden Hours: 350. 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 PO 00000 Frm 00079 Fmt 4703 Sfmt 4703 23245 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: April 27, 2009. R. Joseph Durbala, IRS Reports Clearance Officer. [FR Doc. E9–11446 Filed 5–15–09; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Notice 2006–47 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 Notice 2006–47, Elections Created of Effected by the American Jobs Creation Act of 2004. DATES: Written comments should be received on or before July 17, 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 notice 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: Elections Created or Effected by the American Jobs Creation Act of 2004. OMB Number: 1545–1986. Notice Number: Notice 2006–47. Abstract: The American Jobs Creation Act of 2004, Public Law No. 108–357, 118 Stat. 1418 (the Act), created various elections and permits taxpayers to E:\FR\FM\18MYN1.SGM 18MYN1

Agencies

[Federal Register Volume 74, Number 94 (Monday, May 18, 2009)]
[Notices]
[Pages 23244-23245]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-11448]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

[EE-63-88; IA-140-86; REG-209785-95]


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 regulations, EE-63-88 (Final and temporary regulations) 
Taxation of Fringe Benefits and Exclusions From Gross Income for 
Certain Fringe Benefits; IA-140-86 (Temporary) Fringe Benefits; Listed 
Property; and REG-209785-95 (Final) Substantiation of Business Expenses 
(1.61-2, 1.132-5, and 1.274-5).

DATES: Written comments should be received on or before July 17, 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 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: EE-63-88 (Final and temporary regulations) Taxation of 
Fringe Benefits and Exclusions From Gross Income for Certain Fringe 
Benefits; IA-140-86 (Temporary) Fringe Benefits; Listed Property; and 
REG-209785-95 (Final) Substantiation of Business Expenses.
    OMB Number: 1545-0771.
    Regulation Project Number: EE-63-88; IA-140-86; and REG-209785-95.
    Abstract: EE-63-88--This regulation provides guidance on the tax 
treatment of taxable and nontaxable fringe benefits and general and 
specific rules for the valuation of taxable fringe benefits in 
accordance with Code sections 61 and 132. The regulation also provides 
guidance on exclusions from gross income for certain fringe benefits. 
IA-140-86--This regulation provides guidance relating to the 
requirement that any deduction or credit with respect to business 
travel, entertainment, and gift expenses be substantiated with adequate 
records in accordance with Code section 274(d). The regulation also 
provides guidance on the taxation of fringe benefits and clarifies the 
types of records that are generally necessary to substantiate any 
deduction or credit for listed property. REG-209785-95--This regulation 
provides that taxpayers who deduct, or reimburse employees for, 
business expenses for travel, entertainment, gifts, or listed property 
are required to maintain certain records, including receipts, for 
expenses of $75 or more.
    Current Actions: There are no changes to these existing 
regulations.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals or households, business or other for-
profit organizations, not-for-profits institutions, farms and Federal, 
State, local or tribal governments.
    Estimated Number of Respondents: 28,582,150.
    Estimated Time per Respondent: 1 hr., 20 min.
    Estimated Total Annual Burden Hours: 37,922,688.
    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

[[Page 23245]]

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: May 7, 2009.
R. Joseph Durbala,
IRS Reports Clearance Officer.
[FR Doc. E9-11448 Filed 5-15-09; 8:45 am]
BILLING CODE 4830-01-P

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