Proposed Collection; Comment Request for Regulation Project, 58372 [E9-27206]
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58372
Federal Register / Vol. 74, No. 217 / Thursday, November 12, 2009 / Notices
Approved: November 5, 2009.
R. Joseph Durbala,
IRS Supervisory Tax Analyst.
[FR Doc. E9–27205 Filed 11–10–09; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
[LR–100–78]
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 an
existing final regulation, LR–100–78
(T.D. 7918), Creditability of Foreign
Taxes (§§ 1.901–2 and 1.901–2A).
DATES: Written comments should be
received on or before January 11, 2010
to be assured of consideration.
ADDRESSES: Direct all written comments
to Glenn Kirkland, Internal Revenue
Service, Room 6242, 1111 Constitution
Avenue, NW., Washington, DC 20224.
FOR FURTHER INFORMATION CONTACT:
Requests for additional information or
copies of the information collection
should be directed to R. Joseph Durbala,
at (202) 622–3634, or at Internal
Revenue Service, Room 6516, 1111
Constitution Avenue, NW., Washington,
DC 20224, or through the Internet, at
RJoseph.Durbala@irs.gov.
jlentini on DSKJ8SOYB1PROD with NOTICES
SUPPLEMENTARY INFORMATION:
Title: Creditability of Foreign Taxes.
OMB Number: 1545–0746.
Regulation Project Number: LR–100–
78.
Abstract: Section 1.901–2A of the
regulation contains special rules that
apply to taxpayers engaging in business
transactions with a foreign government
that is also taxing them. In general, such
taxpayers must establish what portion of
a payment made pursuant to a foreign
levy is actually tax and not
compensation for a economic benefit
received from the foreign government.
One way a taxpayer can do this is by
electing to apply the safe harbor formula
VerDate Nov<24>2008
16:12 Nov 10, 2009
Jkt 220001
of section 1,901–2A by filing a
statement with the IRS.
Current Actions: There is no change to
this existing regulation.
Type of Review: Extension of a
currently approved collection.
Affected Public: Individuals or
households, and business or other forprofit organizations.
Estimated Number of Respondents:
110.
Estimated Time per Respondent: 20
minutes,
Estimated Total Annual Burden
Hours: 37.
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: November 5, 2009.
R. Joseph Durbala,
IRS Supervisory Tax Analyst.
[FR Doc. E9–27206 Filed 11–10–09; 8:45 am]
BILLING CODE 4830–01–P
PO 00000
Frm 00134
Fmt 4703
Sfmt 4703
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment
Request for Form 3520
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
3520, Annual Return To Report
Transactions With Foreign Trusts and
Receipts of Certain Foreign Gifts.
DATES: Written comments should be
received on or before January 11, 2010
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,
or through the internet at
RJoseph.Durbala@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Annual Return To Report
Transactions With Foreign Trusts and
Receipts of Certain Foreign Gifts.
OMB Number: 1545–0159.
Form Number: Form 3520.
Abstract: U.S. persons who create a
foreign trust or transfer property to a
foreign trust must file Form 3520 to
report the establishment of the trust or
the transfer of property to the trust.
Form 3520 must also be filed by U.S.
persons who are treated as owners of
any part of the assets of a trust under
subpart E of Part I or subchapter J of
Chapter 1; who received a distribution
from a foreign trust; or who received
large gifts during the tax year from a
foreign person.
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.
E:\FR\FM\12NON1.SGM
12NON1
]]>Agencies
[Federal Register Volume 74, Number 217 (Thursday, November 12, 2009)]
[Notices]
[Page 58372]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-27206]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
[LR-100-78]
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 an
existing final regulation, LR-100-78 (T.D. 7918), Creditability of
Foreign Taxes (Sec. Sec. 1.901-2 and 1.901-2A).
DATES: Written comments should be received on or before January 11,
2010 to be assured of consideration.
ADDRESSES: Direct all written comments to Glenn Kirkland, Internal
Revenue Service, Room 6242, 1111 Constitution Avenue, NW., Washington,
DC 20224.
FOR FURTHER INFORMATION CONTACT: Requests for additional information or
copies of the information collection should be directed to R. Joseph
Durbala, at (202) 622-3634, or at Internal Revenue Service, Room 6516,
1111 Constitution Avenue, NW., Washington, DC 20224, or through the
Internet, at RJoseph.Durbala@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Creditability of Foreign Taxes.
OMB Number: 1545-0746.
Regulation Project Number: LR-100-78.
Abstract: Section 1.901-2A of the regulation contains special rules
that apply to taxpayers engaging in business transactions with a
foreign government that is also taxing them. In general, such taxpayers
must establish what portion of a payment made pursuant to a foreign
levy is actually tax and not compensation for a economic benefit
received from the foreign government. One way a taxpayer can do this is
by electing to apply the safe harbor formula of section 1,901-2A by
filing a statement with the IRS.
Current Actions: There is no change to this existing regulation.
Type of Review: Extension of a currently approved collection.
Affected Public: Individuals or households, and business or other
for-profit organizations.
Estimated Number of Respondents: 110.
Estimated Time per Respondent: 20 minutes,
Estimated Total Annual Burden Hours: 37.
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: November 5, 2009.
R. Joseph Durbala,
IRS Supervisory Tax Analyst.
[FR Doc. E9-27206 Filed 11-10-09; 8:45 am]
BILLING CODE 4830-01-P
