Proposed Collection; Comment Request for Notice 2003-67, 42161-42162 [E9-19947]

Download as PDF Federal Register / Vol. 74, No. 160 / Thursday, August 20, 2009 / Notices Approved: August 10, 2009. R. Joseph Durbala, IRS Reports Clearance Officer. [FR Doc. E9–19950 Filed 8–19–09; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Revenue Procedures 97– 36, 97–38, 97–39, 2002–9, 2008–52, and 2009–XX 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 Revenue Procedures 97–36, 97–38, 97– 39, and 2002–9, Changes in Methods of Accounting. DATES: Written comments should be received on or before October 19, 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 Dawn Bidne at Internal Revenue Service, Room 6129, 1111 Constitution Avenue, NW., Washington, DC 20224, or at (202) 622–3933, or through the Internet at Dawn.E.Bidne@irs.gov. sroberts on DSKD5P82C1PROD with NOTICES SUPPLEMENTARY INFORMATION: Title: Changes in Methods of Accounting. OMB Number: 1545–1551. Revenue Procedure Number: Revenue Procedures 97–36, 97–38, 97–39, 2002–9. 2008–52, and 2009–XX. Abstract: The information collected in the four revenue procedures is required in order for the Commissioner to determine whether the taxpayer properly is requesting to change its method of accounting and the terms and conditions of the change. Current Actions: Revenue Procedure 2009–XX is being added to this VerDate Nov<24>2008 16:07 Aug 19, 2009 Jkt 217001 collection and modifies the collections currently associated with this OMB number. This action resulted in a burden increase of 1215.85 hours and 815 new filers affected by this collection. Type of Review: Revision of a currently approved collection. Affected Public: Individuals or households, business or other for-profit organizations, not-for-profit institutions, and farms. Estimated Number of Respondents: 14,065. Estimated Time per Respondent: 1 hour, 5 minutes. Estimated Total Annual Burden Hours: 15,191.85. The following paragraph applies to all 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. R. Joseph Durbala, IRS Reports Clearance Officer. [FR Doc. E9–19948 Filed 8–19–09; 8:45 am] BILLING CODE 4830–01–P PO 00000 Frm 00115 Fmt 4703 Sfmt 4703 42161 DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Notice 2003–67 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 2003–67, Notice on Information Reporting for Payments in Lieu of Dividends. DATES: Written comments should be received on or before October 19, 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 Dawn Bidne at Internal Revenue Service, Room 6129, 1111 Constitution Avenue, NW., Washington, DC 20224, or at (202) 622–3933, or through the Internet at Dawn.E.Bidne@irs.gov. SUPPLEMENTARY INFORMATION: Title: Notice on Information Reporting for Payments in Lieu of Dividends. Notice Number: 1545–1858. Abstract: Notice 2003–67 provides guidance to brokers and individuals regarding provisions in the Jobs and Growth Tax Relief Reconciliation Act of 2003. The notice provides rules for brokers to use in determining loanable shares and rules for allocating transferred shares for purposes of determining payments in lieu of dividend reportable to individuals. These rules require brokers to comply with certain recordkeeping requirements to use the favorable rules for determining loanable shares and for allocating transferred shares that may give rise to payments in lieu of dividends. Current Actions: There are no changes being made to the notice at this time. Type of Review: Extension of a currently approved collection. E:\FR\FM\20AUN1.SGM 20AUN1 42162 Federal Register / Vol. 74, No. 160 / Thursday, August 20, 2009 / Notices Affected Public: Business or other-forprofit organizations. Estimated Number of Respondents: 600 hours. Estimated Average Time per Respondent: 100 hours. Estimated Total Annual Burden Hours: 60,000. 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: August 10, 2009. R. Joseph Durbala, IRS Reports Clearance Officer. [FR Doc. E9–19947 Filed 8–19–09; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY sroberts on DSKD5P82C1PROD with NOTICES Internal Revenue Service Proposed Collection; Comment Request for Form 1120, Schedule B, Schedule D, Schedule G, Schedule H, Schedule M–3, Schedule N, Schedule O, and Schedule PH AGENCY: Internal Revenue Service (IRS), Treasury. ACTION: Notice and request for comments. VerDate Nov<24>2008 16:07 Aug 19, 2009 Jkt 217001 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 1120, U.S. Corp. Income Tax Return and its affiliated schedules. DATES: Written comments should be received on or before October 19, 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 Dawn Bidne at Internal Revenue Service, Room 6129, 1111 Constitution Avenue, NW., Washington, DC 20224, or at (202) 622– 3933, or through the Internet at Dawn.E.Bidne@irs.gov. SUPPLEMENTARY INFORMATION: Title: Form 1120—U.S. Corp. Income Tax Return, Schedule B—Additional Information for Schedule M–3 Filers, Schedule D—Capital Gains and Losses, Schedule G—Information of Certain Persons Owning the Corporation’s Voting Stock, Schedule H—Section 280H Limitations for a Personal Service Corporation (PSC), Schedule M–3—Net Income (Loss) Reconciliation for Corporations with Total Assets of $10 Million or More, Schedule N—Foreign Operations of U.S. Corporations, Schedule O—Consent Plan and Apportionment Schedule for a Controlled Group, and Schedule PH— U.S. Personal Holding. OMB Number: 1545–0123. Form Number: 1120, Schedule B, Schedule D, Schedule G, Schedule H, Schedule M–3, Schedule N, Schedule O, and Schedule PH. Abstract: Form 1120 is used by corporations to compute their taxable income and tax liability. Schedule D (Form 1120) is used by corporations to report gains and losses from the sale of capital assets. Schedule H (Form 1120) is used by personal service corporations to determine if they have met the minimum distribution requirements of section 280H. Schedule N (1120) is used by corporations that have assets in or business operations in a foreign country or a U.S. possession. Schedule O (Form 1120) will be used by corporations that are members of a controlled group to PO 00000 Frm 00116 Fmt 4703 Sfmt 4703 show the adoption, amendment, or termination of an apportionment plan. It will also be used to show the apportionment of taxable income, income tax, and other tax benefits for members of the controlled group. Schedule PH (Form 1120) is used by personal holding companies to figure the personal holding company tax under section 541. The IRS uses these forms to determine whether corporations have correctly computed their tax liability. Current Actions: Schedule G has been added to this collection resulting in a burden increase of 236,250 hours. In addition, various changes have been made to other forms under this approval number which decreased the burden by 16,487,149 hours. The new burden total for this collection is 345,452,006 hours. Type of Review: Revision of a currently approved collection. Affected Public: Business, or other for-profit organizations and farms. Estimated Number of Respondents: 5,775,633. Estimated Time per Respondent: 61 hours, 22 minutes. Estimated Total Annual Burden Hours: 354,453,006 hours. 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. E:\FR\FM\20AUN1.SGM 20AUN1

Agencies

[Federal Register Volume 74, Number 160 (Thursday, August 20, 2009)]
[Notices]
[Pages 42161-42162]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-19947]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Notice 2003-67

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 2003-67, Notice on Information Reporting for Payments in Lieu of 
Dividends.

DATES: Written comments should be received on or before October 19, 
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 Dawn Bidne at Internal 
Revenue Service, Room 6129, 1111 Constitution Avenue, NW., Washington, 
DC 20224, or at (202) 622-3933, or through the Internet at 
Dawn.E.Bidne@irs.gov.

SUPPLEMENTARY INFORMATION:
    Title: Notice on Information Reporting for Payments in Lieu of 
Dividends.
    Notice Number: 1545-1858.
    Abstract: Notice 2003-67 provides guidance to brokers and 
individuals regarding provisions in the Jobs and Growth Tax Relief 
Reconciliation Act of 2003. The notice provides rules for brokers to 
use in determining loanable shares and rules for allocating transferred 
shares for purposes of determining payments in lieu of dividend 
reportable to individuals. These rules require brokers to comply with 
certain recordkeeping requirements to use the favorable rules for 
determining loanable shares and for allocating transferred shares that 
may give rise to payments in lieu of dividends.
    Current Actions: There are no changes being made to the notice at 
this time.
    Type of Review: Extension of a currently approved collection.

[[Page 42162]]

    Affected Public: Business or other-for-profit organizations.
    Estimated Number of Respondents: 600 hours.
    Estimated Average Time per Respondent: 100 hours.
    Estimated Total Annual Burden Hours: 60,000.
    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: August 10, 2009.
R. Joseph Durbala,
IRS Reports Clearance Officer.
[FR Doc. E9-19947 Filed 8-19-09; 8:45 am]
BILLING CODE 4830-01-P