Submission for OMB Review; Comment Request, 24900-24901 [E9-12130]

Download as PDF 24900 Federal Register / Vol. 74, No. 99 / Tuesday, May 26, 2009 / Notices Network, P.O. Box 39, Vienna, VA 22183. OMB Reviewer: Shagufta Ahmed (202) 395–7873, Office of Management and Budget, Room 10235, New Executive Office Building, Washington, DC 20503. Celina Elphage, Treasury PRA Clearance Officer. [FR Doc. E9–12126 Filed 5–22–09; 8:45 am] BILLING CODE 4810–02–P DEPARTMENT OF THE TREASURY Submission for OMB Review; Comment Request May 19, 2009. The Department of the Treasury will submit the following public information collection requirement(s) to OMB for review and clearance under the Paperwork Reduction Act of 1995, Public Law 104–13 on or after the date of publication of this notice. Copies of the submission(s) may be obtained by calling the Treasury Bureau Clearance Officer listed. Comments regarding this information collection should be addressed to the OMB reviewer listed and to the Treasury Department Clearance Officer, Department of the Treasury, Room 11000, 1750 Pennsylvania Avenue, NW., Washington, DC 20220. DATES: Written comments should be received on or before June 25, 2009 to be assured of consideration. Internal Revenue Service (IRS) OMB Number: 1545–1822. Type of Review: Extension. Title: Revenue Procedure 2003–11, Offshore Voluntary Compliance Initiative. Description: Revenue Procedure 2003–11 describes the Offshore Voluntary Compliance Initiative, which is directed at taxpayers that have underreported their tax liability through financial arrangements outside the United States that rely on the use of credit, debit, or charge cards (offshore credit cards) or foreign banks, financial institutions, corporations, partnership, trusts, or other entities (offshore financial arrangements). Taxpayers that participate in the initiative and provide the information and material that their participation requires can avoid certain penalties. Respondents: Individuals or Households. Estimated Total Burden Hours: 100,000 hours. OMB Number: 1545–1516. Type of Review: Extension. Form: 8832. VerDate Nov<24>2008 20:08 May 22, 2009 Jkt 217001 Title: Entity Classification Election. Description: 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. Respondents: Businesses or other forprofits. Estimated Total Burden Hours: 23,200 hours. OMB Number: 1545–1434. Type of Review: Extension. Title: CO–26–96 (Final) Regulations Under Section 382 of the Internal Revenue Code of 1986; Application of Section 382 in Short Taxable Years and With Respect to Controlled Groups. Description: Section 382 limits the amount of income that can be offset by loss carryovers after an ownership change. These regulations provide rules for applying section 382 in the case of short taxable years and with respect to controlled groups. Respondents: Businesses or other forprofits. Estimated Total Burden Hours: 875 hours. OMB Number: 1545–1380. Type of Review: Extension. Title: IA–17–90 (Final) Reporting Requirements for Recipients of Points paid on residential mortgages. Description: To encourage compliance with the tax laws relating to the mortgage interest deduction, the regulations require the reporting on Form 1098 of points paid on residential mortgage. Only businesses that receive mortgage interest in the course of a trade or business are affected by this reporting requirement. Respondents: Businesses or other forprofits. Estimated Total Burden Hours: 283,056 hours. OMB Number: 1545–1241. Type of Review: Extension. Title: PS–92–90 (Final) Special Valuation Rules. Description: Section 2701 of the Internal Revenue Code allows various elections by family members who make gifts of common stock or partnership interests and retain senior interest. The elections affect the value of the gifted interests and the retained interests. Respondents: Individuals or Households. Estimated Total Burden Hours: 496 hours. OMB Number: 1545–1225. Type of Review: Extension. Form: 5310–A. Title: Notice of Plan Merger or Consolidation, Spinoff, or Transfer of Plan Assets or Liabilities; Notice of Qualified Separate Lines of Business. Description: Plan administrators are required to notify IRS of any plan PO 00000 Frm 00132 Fmt 4703 Sfmt 4703 mergers, consolidations, spinoffs, or transfers of plan assets or liabilities to another plan. Employers are required to notify IRS of separate lines of business for their deferred compensation plans. Form 5310–A is used to make these notifications. Respondents: Businesses or other forprofits. Estimated Total Burden Hours: 158,800 hours. OMB Number: 1545–1540. Type of Review: Extension. Title: REG–125071–06 (Final) Reporting Requirements for Widely Held Fixed Investment Trusts (TD 9308) (previously TD 9279). Description: The regulations clarify the reporting requirements of trustees and middlemen involved with widely held fixed investment trusts. Respondents: Businesses or other forprofits. Estimated Total Burden Hours: 2,400 hours. OMB Number: 1545–1673. Type of Review: Extension. Title: Revenue Procedure 2008–50 Employee Plans Compliance Resolution System (previously RP 2006–27). Description: The information requested in Revenue Procedure 2008– 50 is required to enable the Internal Revenue Service to make determinations on the issuance of various types of closing agreements and compliance statements. The issuance of the agreements and statements allows individual plans to maintain their taxqualified status. As a result, the favorable tax treatment of the benefits of the eligible employees is retained. Respondents: Businesses or other forprofits. Estimated Total Burden Hours: 76,222 hours. OMB Number: 1545–1979. Type of Review: Extension. Form: 8908. Title: Energy Efficient New Home Credit. Description: Contractors will use Form 8908 to claim the new energy efficient home credit for homes substantially completed after August 8, 2005 and sold for use as personal residences after January 1, 2006. Respondents: Businesses or other forprofits. Estimated Total Burden Hours: 512,820 hours. OMB Number: 1545–1952. Type of Review: Extension. Title: Automatic Consent for Eligible Educational Institution to Change Reporting Methods. Description: This revenue procedure prescribes how an eligible educational institution may obtain automatic E:\FR\FM\26MYN1.SGM 26MYN1 Federal Register / Vol. 74, No. 99 / Tuesday, May 26, 2009 / Notices consent from the Service to change its method of reporting under section 6050S of the Code and the Income Tax Regulations. Respondents: Not-for-profit institutions. Estimated Total Burden Hours: 300 hours. Clearance Officer: R. Joseph Durbala; (202) 622–3634, Internal Revenue Service, Room 6516, 1111 Constitution Avenue, NW., Washington, DC 20224. OMB Reviewer: Shagufta Ahmed; (202) 395–7873, Office of Management and Budget, Room 10235, New Executive Office Building, Washington, DC 20503. Celina Elphage, Treasury PRA Clearance Officer. [FR Doc. E9–12130 Filed 5–22–09; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Low Income Taxpayer Clinic Grant Program; Availability of 2010 Grant Application Package AGENCY: Internal Revenue Service (IRS), Treasury. ACTION: Notice. SUMMARY: This document contains a Notice that the IRS has made available the grant application package and guidelines (Publication 3319) for organizations interested in applying for a Low Income Taxpayer Clinic (LITC) matching grant for the 2010 grant cycle (the 2010 grant cycle runs January 1, 2010, through December 31, 2010). The application period shall run from May 20, 2009, through July 7, 2009. The IRS will award a total of up to $6,000,000 (unless otherwise provided by specific Congressional appropriation) to qualifying organizations, subject to the limitations of Internal Revenue Code section 7526, for matching grants. A qualifying organization may receive a matching grant of up to $100,000 per year. Qualifying organizations that provide representation for free or for a nominal fee to low income taxpayers involved in tax controversies with the IRS or that provide education on taxpayer rights and responsibilities to taxpayers for whom English is a second language can apply for a grant for the 2010 grant cycle. Examples of qualifying organizations include: (1) Clinical programs at accredited law, business or accounting schools, whose students represent low income taxpayers in tax controversies with the IRS, and (2) organizations VerDate Nov<24>2008 20:08 May 22, 2009 Jkt 217001 exempt from tax under I.R.C. § 501(a) which represent low income taxpayers in tax controversies with the IRS or refer those taxpayers to qualified representatives. DATES: Grant applications for the 2010 grant cycle must be electronically filed, postmarked, sent by private delivery service, or hand-delivered to the LITC Program Office in Washington, DC by July 7, 2009. ADDRESSES: Send completed grant applications to: Internal Revenue Service, Taxpayer Advocate Service, LITC Grant Program Administration Office, TA:LITC, 1111 Constitution Avenue, NW., Room 1034, Washington, DC 20224. Copies of the 2009 Grant Application Package and Guidelines, IRS Publication 3319 (Rev. 5–2009), can be downloaded from the IRS Internet site at https://www.irs.gov/advocate or ordered from the IRS Distribution Center by calling 1–800–829–3676. Applicants can also file electronically at https://www.grants.gov. For applicants applying through the Federal Grants Web site, the Funding Number is TREAS–GRANTS–052010–001. FOR FURTHER INFORMATION CONTACT: The LITC Program Office at (202) 622–4711 (not a toll-free number) or by e-mail at LITCProgramOffice@irs.gov. SUPPLEMENTARY INFORMATION: Background Section 7526 of the Internal Revenue Code authorizes the IRS, subject to the availability of appropriated funds, to award organizations matching grants of up to $100,000 per year for the development, expansion, or continuation of qualified low income taxpayer clinics. Section 7526 authorizes the IRS to provide grants to qualified organizations that represent low income taxpayers in controversies with the IRS or inform individuals for whom English is a second language of their taxpayer rights and responsibilities. The IRS may award grants to qualifying organizations to fund one-year, two-year or three-year project periods. Grant funds may be awarded for start-up expenditures incurred by new clinics during the grant cycle. The 2010 Grant Application Package and Guidelines, Publication 3319 (Rev. 5–2009), outlines requirements for the operation of a qualifying LITC program and provides instructions on how to apply for a grant. The costs of preparing and submitting an application are the responsibility of each applicant. Each application will be given due consideration and the LITC Program Office will notify each PO 00000 Frm 00133 Fmt 4703 Sfmt 4703 24901 applicant, no later than November 27, 2009. Selection Consideration Applications that pass the eligibility screening process will be numerically ranked based on the information contained in their proposed program plan. Please note that the IRS Volunteer Income Tax Assistance (VITA) and Tax Counseling for the Elderly (TCE) Programs are independently funded and separate from the LITC Program. Organizations currently participating in the VITA or TCE Programs may be eligible to apply for a LITC grant if they meet the criteria and qualifications outlined in the 2010 Grant Application Package and Guidelines, Publication 3319 (Rev. 5–2009). Organizations that seek to operate VITA and LITC Programs, or TCE and LITC Programs, must maintain separate and distinct programs even if co-located to ensure proper cost allocation for LITC grant funds and adherence to the rules and regulations of the VITA, TCE and LITC Programs, as appropriate. Comments Interested parties are encouraged to provide comments on the IRS’s administration of the grant program on an ongoing basis. Comments may be sent to Internal Revenue Service, Taxpayer Advocate Service, Attn: Deborah L. Jones, LITC Program Office, TA:LITC, 1111 Constitution Avenue, NW., Room 1034, Washington, DC 20224. Nina E. Olson, National Taxpayer Advocate, Internal Revenue Service. [FR Doc. E9–12165 Filed 5–22–09; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Office of Thrift Supervision [Docket ID: OTS–2009–0009] Open Meeting of the OTS Mutual Savings Association Advisory Committee AGENCY: Department of the Treasury, Office of Thrift Supervision. ACTION: Notice of meeting. SUMMARY: The OTS Mutual Savings Associations Advisory Committee (MSAAC) will convene its first meeting on Tuesday, June 9, 2009, in Conference Room 6A of the Office of Thrift Supervision, 1700 G Street, NW., Washington, DC, beginning at 8:30 a.m. Eastern Time. The meeting will be open to the public. E:\FR\FM\26MYN1.SGM 26MYN1

Agencies

[Federal Register Volume 74, Number 99 (Tuesday, May 26, 2009)]
[Notices]
[Pages 24900-24901]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-12130]


-----------------------------------------------------------------------

DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

May 19, 2009.
    The Department of the Treasury will submit the following public 
information collection requirement(s) to OMB for review and clearance 
under the Paperwork Reduction Act of 1995, Public Law 104-13 on or 
after the date of publication of this notice. Copies of the 
submission(s) may be obtained by calling the Treasury Bureau Clearance 
Officer listed. Comments regarding this information collection should 
be addressed to the OMB reviewer listed and to the Treasury Department 
Clearance Officer, Department of the Treasury, Room 11000, 1750 
Pennsylvania Avenue, NW., Washington, DC 20220.

DATES: Written comments should be received on or before June 25, 2009 
to be assured of consideration.

Internal Revenue Service (IRS)

    OMB Number: 1545-1822.
    Type of Review: Extension.
    Title: Revenue Procedure 2003-11, Offshore Voluntary Compliance 
Initiative.
    Description: Revenue Procedure 2003-11 describes the Offshore 
Voluntary Compliance Initiative, which is directed at taxpayers that 
have under-reported their tax liability through financial arrangements 
outside the United States that rely on the use of credit, debit, or 
charge cards (offshore credit cards) or foreign banks, financial 
institutions, corporations, partnership, trusts, or other entities 
(offshore financial arrangements). Taxpayers that participate in the 
initiative and provide the information and material that their 
participation requires can avoid certain penalties.
    Respondents: Individuals or Households.
    Estimated Total Burden Hours: 100,000 hours.
    OMB Number: 1545-1516.
    Type of Review: Extension.
    Form: 8832.
    Title: Entity Classification Election.
    Description: 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.
    Respondents: Businesses or other for-profits.
    Estimated Total Burden Hours: 23,200 hours.
    OMB Number: 1545-1434.
    Type of Review: Extension.
    Title: CO-26-96 (Final) Regulations Under Section 382 of the 
Internal Revenue Code of 1986; Application of Section 382 in Short 
Taxable Years and With Respect to Controlled Groups.
    Description: Section 382 limits the amount of income that can be 
offset by loss carryovers after an ownership change. These regulations 
provide rules for applying section 382 in the case of short taxable 
years and with respect to controlled groups.
    Respondents: Businesses or other for-profits.
    Estimated Total Burden Hours: 875 hours.
    OMB Number: 1545-1380.
    Type of Review: Extension.
    Title: IA-17-90 (Final) Reporting Requirements for Recipients of 
Points paid on residential mortgages.
    Description: To encourage compliance with the tax laws relating to 
the mortgage interest deduction, the regulations require the reporting 
on Form 1098 of points paid on residential mortgage. Only businesses 
that receive mortgage interest in the course of a trade or business are 
affected by this reporting requirement.
    Respondents: Businesses or other for-profits.
    Estimated Total Burden Hours: 283,056 hours.
    OMB Number: 1545-1241.
    Type of Review: Extension.
    Title: PS-92-90 (Final) Special Valuation Rules.
    Description: Section 2701 of the Internal Revenue Code allows 
various elections by family members who make gifts of common stock or 
partnership interests and retain senior interest. The elections affect 
the value of the gifted interests and the retained interests.
    Respondents: Individuals or Households.
    Estimated Total Burden Hours: 496 hours.
    OMB Number: 1545-1225.
    Type of Review: Extension.
    Form: 5310-A.
    Title: Notice of Plan Merger or Consolidation, Spinoff, or Transfer 
of Plan Assets or Liabilities; Notice of Qualified Separate Lines of 
Business.
    Description: Plan administrators are required to notify IRS of any 
plan mergers, consolidations, spinoffs, or transfers of plan assets or 
liabilities to another plan. Employers are required to notify IRS of 
separate lines of business for their deferred compensation plans. Form 
5310-A is used to make these notifications.
    Respondents: Businesses or other for-profits.
    Estimated Total Burden Hours: 158,800 hours.
    OMB Number: 1545-1540.
    Type of Review: Extension.
    Title: REG-125071-06 (Final) Reporting Requirements for Widely Held 
Fixed Investment Trusts (TD 9308) (previously TD 9279).
    Description: The regulations clarify the reporting requirements of 
trustees and middlemen involved with widely held fixed investment 
trusts.
    Respondents: Businesses or other for-profits.
    Estimated Total Burden Hours: 2,400 hours.
    OMB Number: 1545-1673.
    Type of Review: Extension.
    Title: Revenue Procedure 2008-50 Employee Plans Compliance 
Resolution System (previously RP 2006-27).
    Description: The information requested in Revenue Procedure 2008-50 
is required to enable the Internal Revenue Service to make 
determinations on the issuance of various types of closing agreements 
and compliance statements. The issuance of the agreements and 
statements allows individual plans to maintain their tax-qualified 
status. As a result, the favorable tax treatment of the benefits of the 
eligible employees is retained.
    Respondents: Businesses or other for-profits.
    Estimated Total Burden Hours: 76,222 hours.
    OMB Number: 1545-1979.
    Type of Review: Extension.
    Form: 8908.
    Title: Energy Efficient New Home Credit.
    Description: Contractors will use Form 8908 to claim the new energy 
efficient home credit for homes substantially completed after August 8, 
2005 and sold for use as personal residences after January 1, 2006.
    Respondents: Businesses or other for-profits.
    Estimated Total Burden Hours: 512,820 hours.
    OMB Number: 1545-1952.
    Type of Review: Extension.
    Title: Automatic Consent for Eligible Educational Institution to 
Change Reporting Methods.
    Description: This revenue procedure prescribes how an eligible 
educational institution may obtain automatic

[[Page 24901]]

consent from the Service to change its method of reporting under 
section 6050S of the Code and the Income Tax Regulations.
    Respondents: Not-for-profit institutions.
    Estimated Total Burden Hours: 300 hours.
    Clearance Officer: R. Joseph Durbala; (202) 622-3634, Internal 
Revenue Service, Room 6516, 1111 Constitution Avenue, NW., Washington, 
DC 20224.
    OMB Reviewer: Shagufta Ahmed; (202) 395-7873, Office of Management 
and Budget, Room 10235, New Executive Office Building, Washington, DC 
20503.

Celina Elphage,
Treasury PRA Clearance Officer.
 [FR Doc. E9-12130 Filed 5-22-09; 8:45 am]
BILLING CODE 4830-01-P
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