Proposed Collection; Comment Request for Regulation Project., 60031 [E9-27766]
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Federal Register / Vol. 74, No. 222 / Thursday, November 19, 2009 / Notices
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 12, 2009.
R. Joseph Durbala,
IRS Supervisory Tax Analyst.
[FR Doc. E9–27767 Filed 11–18–09; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
[FI–43–94]
Proposed Collection; Comment
Request for Regulation Project.
erowe on DSK5CLS3C1PROD 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 an
existing final regulation, FI–43–94 (TD
8649), Regulations Under Section 1258
of the Internal Revenue Code of 1986;
Netting Rule for Certain Conversion
Transactions (§ 1.1258–1).
DATES: Written comments should be
received on or before January 19, 2010
to be assured of consideration.
ADDRESSES: Direct all written comments
to Glenn P. Kirkland, Internal Revenue
Service, Room 6242, 1111 Constitution
Avenue, NW., Washington, DC 20224.
FOR FURTHER INFORMATION CONTACT:
Requests for additional information or
VerDate Nov<24>2008
15:22 Nov 18, 2009
Jkt 220001
copies of the information collection
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: Regulations Under Section 1258
of the Internal Revenue Code of 1986;
Netting Rule for Certain Conversion
Transactions.
OMB Number: 1545–1452.
Regulation Project Number: FI–43–94.
Abstract: Internal Revenue Code
section 1258 recharacterizes capital
gains from conversion transactions as
ordinary income to the extent of the
time value element. This regulation
provides that certain gains and losses
may be netted for purposes of
determining the amount of gain
recharacterized. To be eligible for
netting relief, the taxpayer must identify
on its books and records all the
positions that are part of the conversion
transaction. This must be done before
the close of the day on which the
positions become part of the conversion
transaction.
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, and not-for-profit
institutions.
Estimated Number of Respondents:
50,000.
Estimated Time per Respondent: 6
minutes.
Estimated Total Annual Burden
Hours: 5,000.
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
PO 00000
Frm 00074
Fmt 4703
Sfmt 4703
60031
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 12, 2009.
R. Joseph Durbala,
IRS Supervisory Tax Analyst.
[FR Doc. E9–27766 Filed 11–18–09; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
[PS–80–93]
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, PS–80–93 (TD
8645), Rules for Certain Rental Real
Estate Activities (Section 1.469–9).
DATES: Written comments should be
received on or before January 19, 2010
to be assured of consideration.
ADDRESSES: Direct all written comments
to Glenn P. Kirkland, Internal Revenue
Service, room 6242, 1111 Constitution
Avenue, NW., Washington, DC 20224.
FOR FURTHER INFORMATION CONTACT:
Requests for additional information or
copies of this regulation should be
directed to R. Joseph Durbala, at (202)
622–3634, Internal Revenue Service,
room 6129, 1111 Constitution Avenue,
NW., Washington, DC 20224, or through
the Internet at RJoseph.Durbala@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Rules for Certain Rental Real
Estate Activities.
OMB Number: 1545–1455.
E:\FR\FM\19NON1.SGM
19NON1
]]>Agencies
[Federal Register Volume 74, Number 222 (Thursday, November 19, 2009)]
[Notices]
[Page 60031]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-27766]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
[FI-43-94]
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, FI-43-94 (TD 8649), Regulations Under
Section 1258 of the Internal Revenue Code of 1986; Netting Rule for
Certain Conversion Transactions (Sec. 1.1258-1).
DATES: Written comments should be received on or before January 19,
2010 to be assured of consideration.
ADDRESSES: Direct all written comments to Glenn P. 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 6129,
1111 Constitution Avenue, NW., Washington, DC 20224, or through the
Internet, at RJoseph.Durbala@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Regulations Under Section 1258 of the Internal Revenue Code
of 1986; Netting Rule for Certain Conversion Transactions.
OMB Number: 1545-1452.
Regulation Project Number: FI-43-94.
Abstract: Internal Revenue Code section 1258 recharacterizes
capital gains from conversion transactions as ordinary income to the
extent of the time value element. This regulation provides that certain
gains and losses may be netted for purposes of determining the amount
of gain recharacterized. To be eligible for netting relief, the
taxpayer must identify on its books and records all the positions that
are part of the conversion transaction. This must be done before the
close of the day on which the positions become part of the conversion
transaction.
Current Actions: There is no change to this existing regulation.
Type of Review: Extension of a currently approved collection.
Affected Public: Business or other for-profit organizations, and
not-for-profit institutions.
Estimated Number of Respondents: 50,000.
Estimated Time per Respondent: 6 minutes.
Estimated Total Annual Burden Hours: 5,000.
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: November 12, 2009.
R. Joseph Durbala,
IRS Supervisory Tax Analyst.
[FR Doc. E9-27766 Filed 11-18-09; 8:45 am]
BILLING CODE 4830-01-P
