Submission for OMB Review; Comment Request, 27859-27861 [2010-11834]
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member need not be a representative or
a member of the full committee.
If you have expertise in the subject
matter and wish to become a member of
the working group, write to the person
listed under the caption FOR FURTHER
INFORMATION CONTACT expressing that
desire. Describe your interest in the task
and state the expertise you would bring
to the working group. We must receive
all requests by May 3, 2010. The
assistant chair, the assistant executive
director, and the working group cochairs will review the requests and
advise you whether or not your request
is approved.
If you are chosen for membership on
the working group, you must represent
your aviation community segment and
actively participate in the working
group by attending all meetings and
providing written comments when
requested to do so. You must devote the
resources necessary to support the
working group in meeting any assigned
deadlines. You must keep your
management chain and those you may
represent advised of working group
activities and decisions to ensure that
the proposed technical solutions do not
conflict with your sponsoring
organization’s position when the subject
being negotiated is presented to ARAC
for approval. Once the working group
has begun deliberations, members will
not be added or substituted without the
approval of the assistant chair, the
assistant executive director, and the
working group co-chairs.
The Secretary of Transportation
determined that the formation and use
of the ARAC is necessary and in the
public interest in connection with the
performance of duties imposed on the
FAA by law.
Meetings of the ARAC are open to the
public. Meetings of the Avionics
Systems Harmonization Working Group
will not be open to the public, except
to the extent individuals with an
interest and expertise are selected to
participate. The FAA will make no
public announcement of working group
meetings.
Issued in Washington, DC, on May 12,
2010.
Pamela Hamilton-Powell,
Executive Director, Aviation Rulemaking
Advisory Committee.
[FR Doc. 2010–11796 Filed 5–17–10; 8:45 am]
BILLING CODE 4910–13–P
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DEPARTMENT OF THE TREASURY
Submission for OMB Review;
Comment Request
May 12, 2010.
The Department of the Treasury will
submit the following public information
collection requirements 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. A copy of
the submissions may be obtained by
calling the Treasury Bureau Clearance
Officer listed. Comments regarding
these information collections should be
addressed to the OMB reviewer listed
and to the Treasury PRA Clearance
Officer, Department of the Treasury,
1750 Pennsylvania Avenue, NW., Suite
11010, Washington, DC 20220.
Dates: Written comments should be
received on or before June 17, 2010 to
be assured of consideration.
Internal Revenue Service
OMB Number: 1545–0043.
Type of Review: Extension without
change of a currently approved
collection.
Title: Consent of Shareholder to
Include Specific Amount in Gross
Income.
Form: 972.
Abstract: Form 972 is filed by
shareholders of corporations to elect to
include an amount in gross income as
a dividend. The IRS uses Form 972 as
a check to see if an amended return is
filed to include the amount in income
and to determine if the corporation
claimed the correct amount.
Respondents: Individuals and
Households.
Estimated Total Burden Hours: 385
hours.
OMB Number: 1545–0145.
Type of Review: Extension without
change of a currently approved
collection.
Title: Notice to Shareholder of
Undistributed Long-Term Capital Gains.
Form: 2439.
Abstract: Form 2439 is sent by
regulated investment companies and
real estate investment trusts to report
undistributed capital gains and the
amount of tax paid on these gains
designated under IRC section
852(b)(3)(D) or 857(b)(3)(D). The
company, the trust, and the shareholder
file copies of Form 2439 with IRS. IRS
uses the information to check
shareholder compliance.
Respondents: Private Sector:
Businesses or other for-profits.
Estimated Total Burden Hours: 29,995
hours.
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27859
OMB Number: 1545–0889.
Type of Review: Revision of a
currently approved collection.
Title: Disclosure Statement (Form
8275), and Regulation Disclosure
Statement (Form 8275–R).
Form(s): 8275, 8275–R.
Abstract: IRC section 6662 imposes
accuracy related penalties for
substantial understatement of tax
liability or negligence or disregard of
rules and regulations. Section 6694
imposes similar penalties on return
preparers. Regulations section 1.6662–
4(e) and (f) provide for reduction of
these penalties if adequate disclosure of
the tax treatment is made on Form 8275
or, if the position is contrary to a
regulation on Form 8275–R.
Respondents: Private Sector:
Businesses or other for-profits.
Estimated Total Burden Hours:
3,716,664 hours.
OMB Number: 1545–1459.
Type of Review: Extension without
change of a currently approved
collection.
Title: Program Sponsor Agreement for
Continuing Education for Enrolled
Agents.
Form: 8498.
Abstract: This information relates to
the approval of continuing professional
education programs for the individuals
enrolled to practice before the Internal
Revenue Service (enrolled agents).
Respondents: Individuals or
Households.
Estimated Total Burden Hours: 300
hours.
OMB Number: 1545–1556.
Type of Review: Extension without
change of a currently approved
collection.
Title: REG–251985–96 (TD 8786—
Final) Source of Income From Sales of
Inventory Partly From Sources Within a
Possession of the United States; Also,
Source of Income Derived From Certain
Purchases From A.
Abstract: The information requested
in section 1.863–3(f) (6) is necessary for
the Service to audit taxpayers’ return to
ensure taxpayers are properly
determining the source of their income.
Respondents: Private Sector:
Businesses or other for-profits.
Estimated Total Burden Hours: 500
hours.
OMB Number: 1545–0045.
Type of Review: Extension without
change of a currently approved
collection.
Title: Claim for Deficiency Dividends
Deductions by a Personal Holding
Company, Regulated Investment
Company, or Real Estate Investment
Trust.
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Federal Register / Vol. 75, No. 95 / Tuesday, May 18, 2010 / Notices
Form: 976.
Abstract: Form 976 is filed by
corporations that wish to claim a
deficiency dividend deduction. The
deduction allows the corporation to
eliminate all or a portion of a tax
deficiency. The IRS uses Form 976 to
determine if shareholders have included
amounts in gross income.
Respondents: Private Sector:
Businesses or other for-profits.
Estimated Total Burden Hours: 3,830
hours.
OMB Number: 1545–0746.
Type of Review: Extension without
change of a currently approved
collection.
Title: LR–100–78 (Final) Creditability
of Foreign Taxes.
Abstract: The information needed is a
statement by the taxpayer that it has
elected to apply the safe harbor formula
of section 1.901–2A (e) of the foreign tax
credit regulations. This statement is
necessary in order that the IRS may
properly determine the taxpayer’s tax
liability.
Respondents: Private Sector:
Businesses or other for-profits and
Farms.
Estimated Total Burden Hours: 37
hours.
OMB Number: 1545–1566.
Type of Review: Revision of a
currently approved collection.
Title: Notice 97–66, Certain Payments
Made Pursuant to a Securities Lending
Transaction; NOT–152783–09—
Guidance Regarding Prevention of OverWithholding and U.S. Tax Avoidance
with Respect to Certain Subst...
Abstract: Notice 97–66 modifies final
regulations which are effective
November 14, 1997. The Notice relaxes
the statement requirement with respect
to substitute interest payments relating
to securities loans and repurchased
transactions. It also provides a
withholding mechanism to eliminate
excessive withholding on multiple
payments in a chain of substitute
dividend payments. NOT–152783–09
modifies Notice 97–66, by providing
necessary information to ensure
taxpayers are not subject to excessive
tax pursuant to IRC section 871(l). The
information will allow a withholding
agent to make a substitute dividend
payment to certain counterparties in a
series of securities lending transactions
without withholding and depositing
additional excessive tax.
Respondents: Private Sector:
Businesses or other for-profits.
Estimated Total Burden Hours: 62,750
hours.
OMB Number: 1545–1224.
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Type of Review: Extension without
change of a currently approved
collection.
Title: INTL–112–88 (Final) Allocation
and Apportionment of Deduction for
State Income Taxes.
Abstract: This regulation provides
guidance on when and how the
deduction for state income taxes is to be
allocated and apportioned between
gross income from sources within and
without the United States in order to
determine the amount of taxable income
from those sources. The reporting
requirements in the regulation affect
those taxpayers claiming foreign tax
credits who elect to use an alternative
method from that described in the
regulation to allocate and apportion
deductions for state income taxes.
Respondents: Private Sector:
Businesses or other for-profits.
Estimated Total Burden Hours: 1,000
hours.
OMB Number: 1545–0429.
Type of Review: Extension without
change of a currently approved
collection.
Title: Request for Copy of Tax Return.
Form: 4605.
Abstract: 26 USC 7513 allows for
taxpayers to request a copy of a tax
return. Form 4506 is used by a taxpayer
to request a copy of a Federal tax form.
The information provided will be used
for research to locate the tax form and
to ensure that the requester is the
taxpayer or someone authorized by the
taxpayer.
Respondents: Individuals or
Households.
Estimated Total Burden Hours:
260,000 hours.
OMB Number: 1545–0755.
Type of Review: Extension without
change of a currently approved
collection.
Title: LR–58–83 (TD 7959—Final)
Related Group Election With Respect to
Qualified Investments in Foreign Base
Company Shipping Operations.
Abstract: The election described in
the attached justification converted an
annual election to an election effective
until revoked. The computational
information required is necessary to
assure that the U.S. shareholder
correctly reports any shipping income of
its controlled foreign corporations
which is taxable to that shareholder.
Respondents: Private Sector:
Businesses or other for-profits.
Estimated Total Burden Hours: 205
hours.
OMB Number: 1545–1316.
Type of Review: Extension without
change of a currently approved
collection.
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Title: Filing Assistance Program (Do
you have to file a tax return?).
Form: 9452.
Abstract: The RUF (Reduce
Unnecessary Filing) Program was
initiated in 1992. Each year
approximately 72% of the taxpayers
contacted through the RUF Program
stop filing unnecessary returns. This has
reduced taxpayer burden and been cost
effective for the service. This is in
accord with the Service’s compliance
and burden reduction initiatives.
Respondents: Individuals or
Households.
Estimated Total Burden Hours:
825,000 hours.
OMB Number: 1545–1455.
Type of Review: Extension without
change of a currently approved
collection.
Title: PS–80–93 (TD 8645—Final)
Rules for Certain Rental Real Estate
Activities.
Abstract: The regulation provides
rules relating to the treatment of rental
real estate activities of certain taxpayers
under the passive activity loss and
credit limitations on Internal Revenue
Code section 469.
Respondents: Individuals or
Households.
Estimated Total Burden Hours: 3,015
hours.
OMB Number: 1545–1719.
Type of Review: Extension without
change of a currently approved
collection.
Title: REG–106446–98 (TD 9003—
Final) Relief From Joint and Several
Liability.
Abstract: This document contains
final regulations relating to relief from
joint and several liability under section
6015 of the Internal Revenue Code. The
regulations reflect changes in the law
made by the Internal Revenue Service
Restructuring and Reform Act of 1998
and by the Community Renewal Tax
Relief Act of 2000. The regulations
provide guidance to married individuals
filing joint returns who seek relief from
joint and several liability.
Respondents: Individuals or
Households.
Estimated Total Burden Hours: 1
hour.
OMB Number: 1545–1452.
Type of Review: Extension without
change of a currently approved
collection.
Title: FI–43–94 (TD 8649—Final)
Regulations Under Section 1258 of the
Internal Revenue Code of 1986; Netting
Rule for Certain Conversion
Transactions.
Abstract: Section 1258 recharacterizes
capital gains from conversion
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Federal Register / Vol. 75, No. 95 / Tuesday, May 18, 2010 / Notices
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.
Respondents: Private Sector:
Businesses or other for-profits.
Estimated Total Burden Hours: 5,000
hours.
OMB Number: 1545–0159.
Type of Review: Revision of a
currently approved collection.
Title: Annual Return To Report
Transactions With Foreign Trusts and
Receipts of Certain Foreign Gifts.
Form: 3520.
Abstract: Form 3520 is filed by U.S.
persons who create a foreign trust,
transfer property to a foreign trust,
receive a distribution from a foreign
trust, or receive a large gift from a
foreign source. IRS uses the form to
identify the U.S. persons who may have
transactions that may trigger a taxable
event in the future.
Respondents: Private Sector:
Businesses or other for-profits.
Estimated Total Burden Hours: 72,059
hours.
OMB Number: 1545–1098.
Type of Review: Extension without
change of a currently approved
collection.
Title: Arbitrage Restrictions on TaxExempt Bonds TD 8418 Final (FI–9186; FI–90–86; FI–90–91; and FI–1–90).
Abstract: This regulation requires
state and local governmental issuers of
tax-exempt bonds to rebate arbitrage
profits earned on nonpurpose
investments acquired with the bond
proceeds. Issuers are required to submit
a form with the rebate. The regulations
provide for several elections, all of
which must be in writing.
Respondents: State, Local, and Tribal
governments.
Estimated Total Burden Hours: 8,550
hours.
OMB Number: 1545–1718.
Type of Review: Extension without
change of a currently approved
collection.
Title: REG–106030–98 (TD 9305—
final) Source of Income from Certain
Space and Ocean Activities; Also,
Source of Communications Income.
Abstract: This document contains
final regulations under section 863(d)
governing the source of income from
certain space and ocean activities. It
also contains final regulations under
section 863(a), (d), and (e) governing the
source of income from certain
communications activities. In addition,
this document contains final regulations
under section 863(a) and (b), amending
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the regulations in § 1.863–3 to conform
those regulations to these final
regulations. The final regulations
primarily affect persons who derive
income from activities conducted in
space, or on or under water not within
the jurisdiction of a foreign country,
possession of the United States, or the
United States (in international water).
The final regulations also affect persons
who derive income from transmission of
communications.
Respondents: Private Sector:
Businesses or other for-profits.
Estimated Total Burden Hours: 1,250
hours.
OMB Number: 1545–0117.
Type of Review: Extension without
change of a currently approved
collection.
Title: Original Issue Discount.
Form: 1099–OID.
Abstract: Form 1099–OID is used for
reporting original issue discount as
required by section 6049 of the Internal
Revenue Code. It is used to verify that
income earned on discount obligations
is properly reported by the recipient.
Respondents: Private Sector:
Businesses or other for-profits.
Estimated Total Burden Hours:
1,142,324 hours.
OMB Number: 1545–1572.
Type of Review: Extension without
change of a currently approved
collection.
Title: T.D. 8775 (Final) Election Not to
Apply Look-Back Methods in De
Minimis Cases (REG–120200–97).
Abstract: The regulation requires
taxpayers to attach a notification
statement to their returns when they
elect not to apply the look-back method
to long-term contracts in de minimis
cases.
Respondents: Private Sector:
Businesses or other for-profits.
Estimated Total Burden Hours: 4,000
hours.
OMB Number: 1545–1870.
Type of Review: Extension without
change of a currently approved
collection.
Title: T.D. 9107 (Final)—Guidance
Regarding Deduction and Capitalization
of Expenditures (REG–125638–01).
Abstract: Final regulations require
that a taxpayer’s nonaccrual-experience
method must be self-tested against the
taxpayer’s experience to determine
whether the nonaccrual-experience
method clearly reflects the taxpayer’s
experience. The information required to
be retained by taxpayers will constitute
sufficient documentation for purposes
of substantiating a deduction. The
information will be used by the agency
on audit to determine the taxpayer’s
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27861
entitlement to a deduction. The
respondents include taxpayers who
engage in certain transactions involving
the acquisition of a trade or business or
an ownership interest in a legal entity.
Respondents: Private Sector:
Businesses or other for-profits.
Estimated Total Burden Hours: 3,000
hours.
Bureau Clearance Officer: R. Joseph
Durbala, Internal Revenue Service, 1111
Constitution Avenue, NW., Room 6129,
Washington, DC 20224; (202) 622–3634.
OMB Reviewer: Shagufta Ahmed,
Office of Management and Budget, New
Executive Office Building, Room 10235,
Washington, DC 20503; (202) 395–7873.
Celina Elphage,
Treasury PRA Clearance Officer.
[FR Doc. 2010–11834 Filed 5–17–10; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment
Request for Form 970
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
970, Application To Use LIFO Inventory
Method.
DATES: Written comments should be
received on or before July 19, 2010 to be
assured of consideration.
ADDRESSES: Direct all written comments
to Gerald Shields 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 Elaine Christophe,
(202) 622–3179, or at Internal Revenue
Service, Room 6129, 1111 Constitution
Avenue, NW., Washington DC 20224, or
through the Internet, at
Elaine.H.Christophe@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Application To Use LIFO
Inventory Method.
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]]>Agencies
[Federal Register Volume 75, Number 95 (Tuesday, May 18, 2010)]
[Notices]
[Pages 27859-27861]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-11834]
=======================================================================
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DEPARTMENT OF THE TREASURY
Submission for OMB Review; Comment Request
May 12, 2010.
The Department of the Treasury will submit the following public
information collection requirements 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. A copy of the submissions
may be obtained by calling the Treasury Bureau Clearance Officer
listed. Comments regarding these information collections should be
addressed to the OMB reviewer listed and to the Treasury PRA Clearance
Officer, Department of the Treasury, 1750 Pennsylvania Avenue, NW.,
Suite 11010, Washington, DC 20220.
Dates: Written comments should be received on or before June 17,
2010 to be assured of consideration.
Internal Revenue Service
OMB Number: 1545-0043.
Type of Review: Extension without change of a currently approved
collection.
Title: Consent of Shareholder to Include Specific Amount in Gross
Income.
Form: 972.
Abstract: Form 972 is filed by shareholders of corporations to
elect to include an amount in gross income as a dividend. The IRS uses
Form 972 as a check to see if an amended return is filed to include the
amount in income and to determine if the corporation claimed the
correct amount.
Respondents: Individuals and Households.
Estimated Total Burden Hours: 385 hours.
OMB Number: 1545-0145.
Type of Review: Extension without change of a currently approved
collection.
Title: Notice to Shareholder of Undistributed Long-Term Capital
Gains.
Form: 2439.
Abstract: Form 2439 is sent by regulated investment companies and
real estate investment trusts to report undistributed capital gains and
the amount of tax paid on these gains designated under IRC section
852(b)(3)(D) or 857(b)(3)(D). The company, the trust, and the
shareholder file copies of Form 2439 with IRS. IRS uses the information
to check shareholder compliance.
Respondents: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 29,995 hours.
OMB Number: 1545-0889.
Type of Review: Revision of a currently approved collection.
Title: Disclosure Statement (Form 8275), and Regulation Disclosure
Statement (Form 8275-R).
Form(s): 8275, 8275-R.
Abstract: IRC section 6662 imposes accuracy related penalties for
substantial understatement of tax liability or negligence or disregard
of rules and regulations. Section 6694 imposes similar penalties on
return preparers. Regulations section 1.6662-4(e) and (f) provide for
reduction of these penalties if adequate disclosure of the tax
treatment is made on Form 8275 or, if the position is contrary to a
regulation on Form 8275-R.
Respondents: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 3,716,664 hours.
OMB Number: 1545-1459.
Type of Review: Extension without change of a currently approved
collection.
Title: Program Sponsor Agreement for Continuing Education for
Enrolled Agents.
Form: 8498.
Abstract: This information relates to the approval of continuing
professional education programs for the individuals enrolled to
practice before the Internal Revenue Service (enrolled agents).
Respondents: Individuals or Households.
Estimated Total Burden Hours: 300 hours.
OMB Number: 1545-1556.
Type of Review: Extension without change of a currently approved
collection.
Title: REG-251985-96 (TD 8786--Final) Source of Income From Sales
of Inventory Partly From Sources Within a Possession of the United
States; Also, Source of Income Derived From Certain Purchases From A.
Abstract: The information requested in section 1.863-3(f) (6) is
necessary for the Service to audit taxpayers' return to ensure
taxpayers are properly determining the source of their income.
Respondents: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 500 hours.
OMB Number: 1545-0045.
Type of Review: Extension without change of a currently approved
collection.
Title: Claim for Deficiency Dividends Deductions by a Personal
Holding Company, Regulated Investment Company, or Real Estate
Investment Trust.
[[Page 27860]]
Form: 976.
Abstract: Form 976 is filed by corporations that wish to claim a
deficiency dividend deduction. The deduction allows the corporation to
eliminate all or a portion of a tax deficiency. The IRS uses Form 976
to determine if shareholders have included amounts in gross income.
Respondents: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 3,830 hours.
OMB Number: 1545-0746.
Type of Review: Extension without change of a currently approved
collection.
Title: LR-100-78 (Final) Creditability of Foreign Taxes.
Abstract: The information needed is a statement by the taxpayer
that it has elected to apply the safe harbor formula of section 1.901-
2A (e) of the foreign tax credit regulations. This statement is
necessary in order that the IRS may properly determine the taxpayer's
tax liability.
Respondents: Private Sector: Businesses or other for-profits and
Farms.
Estimated Total Burden Hours: 37 hours.
OMB Number: 1545-1566.
Type of Review: Revision of a currently approved collection.
Title: Notice 97-66, Certain Payments Made Pursuant to a Securities
Lending Transaction; NOT-152783-09--Guidance Regarding Prevention of
Over-Withholding and U.S. Tax Avoidance with Respect to Certain
Subst...
Abstract: Notice 97-66 modifies final regulations which are
effective November 14, 1997. The Notice relaxes the statement
requirement with respect to substitute interest payments relating to
securities loans and repurchased transactions. It also provides a
withholding mechanism to eliminate excessive withholding on multiple
payments in a chain of substitute dividend payments. NOT-152783-09
modifies Notice 97-66, by providing necessary information to ensure
taxpayers are not subject to excessive tax pursuant to IRC section
871(l). The information will allow a withholding agent to make a
substitute dividend payment to certain counterparties in a series of
securities lending transactions without withholding and depositing
additional excessive tax.
Respondents: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 62,750 hours.
OMB Number: 1545-1224.
Type of Review: Extension without change of a currently approved
collection.
Title: INTL-112-88 (Final) Allocation and Apportionment of
Deduction for State Income Taxes.
Abstract: This regulation provides guidance on when and how the
deduction for state income taxes is to be allocated and apportioned
between gross income from sources within and without the United States
in order to determine the amount of taxable income from those sources.
The reporting requirements in the regulation affect those taxpayers
claiming foreign tax credits who elect to use an alternative method
from that described in the regulation to allocate and apportion
deductions for state income taxes.
Respondents: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 1,000 hours.
OMB Number: 1545-0429.
Type of Review: Extension without change of a currently approved
collection.
Title: Request for Copy of Tax Return.
Form: 4605.
Abstract: 26 USC 7513 allows for taxpayers to request a copy of a
tax return. Form 4506 is used by a taxpayer to request a copy of a
Federal tax form. The information provided will be used for research to
locate the tax form and to ensure that the requester is the taxpayer or
someone authorized by the taxpayer.
Respondents: Individuals or Households.
Estimated Total Burden Hours: 260,000 hours.
OMB Number: 1545-0755.
Type of Review: Extension without change of a currently approved
collection.
Title: LR-58-83 (TD 7959--Final) Related Group Election With
Respect to Qualified Investments in Foreign Base Company Shipping
Operations.
Abstract: The election described in the attached justification
converted an annual election to an election effective until revoked.
The computational information required is necessary to assure that the
U.S. shareholder correctly reports any shipping income of its
controlled foreign corporations which is taxable to that shareholder.
Respondents: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 205 hours.
OMB Number: 1545-1316.
Type of Review: Extension without change of a currently approved
collection.
Title: Filing Assistance Program (Do you have to file a tax
return?).
Form: 9452.
Abstract: The RUF (Reduce Unnecessary Filing) Program was initiated
in 1992. Each year approximately 72% of the taxpayers contacted through
the RUF Program stop filing unnecessary returns. This has reduced
taxpayer burden and been cost effective for the service. This is in
accord with the Service's compliance and burden reduction initiatives.
Respondents: Individuals or Households.
Estimated Total Burden Hours: 825,000 hours.
OMB Number: 1545-1455.
Type of Review: Extension without change of a currently approved
collection.
Title: PS-80-93 (TD 8645--Final) Rules for Certain Rental Real
Estate Activities.
Abstract: The regulation provides rules relating to the treatment
of rental real estate activities of certain taxpayers under the passive
activity loss and credit limitations on Internal Revenue Code section
469.
Respondents: Individuals or Households.
Estimated Total Burden Hours: 3,015 hours.
OMB Number: 1545-1719.
Type of Review: Extension without change of a currently approved
collection.
Title: REG-106446-98 (TD 9003--Final) Relief From Joint and Several
Liability.
Abstract: This document contains final regulations relating to
relief from joint and several liability under section 6015 of the
Internal Revenue Code. The regulations reflect changes in the law made
by the Internal Revenue Service Restructuring and Reform Act of 1998
and by the Community Renewal Tax Relief Act of 2000. The regulations
provide guidance to married individuals filing joint returns who seek
relief from joint and several liability.
Respondents: Individuals or Households.
Estimated Total Burden Hours: 1 hour.
OMB Number: 1545-1452.
Type of Review: Extension without change of a currently approved
collection.
Title: FI-43-94 (TD 8649--Final) Regulations Under Section 1258 of
the Internal Revenue Code of 1986; Netting Rule for Certain Conversion
Transactions.
Abstract: Section 1258 recharacterizes capital gains from
conversion
[[Page 27861]]
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.
Respondents: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 5,000 hours.
OMB Number: 1545-0159.
Type of Review: Revision of a currently approved collection.
Title: Annual Return To Report Transactions With Foreign Trusts and
Receipts of Certain Foreign Gifts.
Form: 3520.
Abstract: Form 3520 is filed by U.S. persons who create a foreign
trust, transfer property to a foreign trust, receive a distribution
from a foreign trust, or receive a large gift from a foreign source.
IRS uses the form to identify the U.S. persons who may have
transactions that may trigger a taxable event in the future.
Respondents: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 72,059 hours.
OMB Number: 1545-1098.
Type of Review: Extension without change of a currently approved
collection.
Title: Arbitrage Restrictions on Tax-Exempt Bonds TD 8418 Final
(FI-91- 86; FI-90-86; FI-90-91; and FI-1-90).
Abstract: This regulation requires state and local governmental
issuers of tax-exempt bonds to rebate arbitrage profits earned on
nonpurpose investments acquired with the bond proceeds. Issuers are
required to submit a form with the rebate. The regulations provide for
several elections, all of which must be in writing.
Respondents: State, Local, and Tribal governments.
Estimated Total Burden Hours: 8,550 hours.
OMB Number: 1545-1718.
Type of Review: Extension without change of a currently approved
collection.
Title: REG-106030-98 (TD 9305--final) Source of Income from Certain
Space and Ocean Activities; Also, Source of Communications Income.
Abstract: This document contains final regulations under section
863(d) governing the source of income from certain space and ocean
activities. It also contains final regulations under section 863(a),
(d), and (e) governing the source of income from certain communications
activities. In addition, this document contains final regulations under
section 863(a) and (b), amending the regulations in Sec. 1.863-3 to
conform those regulations to these final regulations. The final
regulations primarily affect persons who derive income from activities
conducted in space, or on or under water not within the jurisdiction of
a foreign country, possession of the United States, or the United
States (in international water). The final regulations also affect
persons who derive income from transmission of communications.
Respondents: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 1,250 hours.
OMB Number: 1545-0117.
Type of Review: Extension without change of a currently approved
collection.
Title: Original Issue Discount.
Form: 1099-OID.
Abstract: Form 1099-OID is used for reporting original issue
discount as required by section 6049 of the Internal Revenue Code. It
is used to verify that income earned on discount obligations is
properly reported by the recipient.
Respondents: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 1,142,324 hours.
OMB Number: 1545-1572.
Type of Review: Extension without change of a currently approved
collection.
Title: T.D. 8775 (Final) Election Not to Apply Look-Back Methods in
De Minimis Cases (REG-120200-97).
Abstract: The regulation requires taxpayers to attach a
notification statement to their returns when they elect not to apply
the look-back method to long-term contracts in de minimis cases.
Respondents: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 4,000 hours.
OMB Number: 1545-1870.
Type of Review: Extension without change of a currently approved
collection.
Title: T.D. 9107 (Final)--Guidance Regarding Deduction and
Capitalization of Expenditures (REG-125638-01).
Abstract: Final regulations require that a taxpayer's nonaccrual-
experience method must be self-tested against the taxpayer's experience
to determine whether the nonaccrual-experience method clearly reflects
the taxpayer's experience. The information required to be retained by
taxpayers will constitute sufficient documentation for purposes of
substantiating a deduction. The information will be used by the agency
on audit to determine the taxpayer's entitlement to a deduction. The
respondents include taxpayers who engage in certain transactions
involving the acquisition of a trade or business or an ownership
interest in a legal entity.
Respondents: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 3,000 hours.
Bureau Clearance Officer: R. Joseph Durbala, Internal Revenue
Service, 1111 Constitution Avenue, NW., Room 6129, Washington, DC
20224; (202) 622-3634.
OMB Reviewer: Shagufta Ahmed, Office of Management and Budget, New
Executive Office Building, Room 10235, Washington, DC 20503; (202) 395-
7873.
Celina Elphage,
Treasury PRA Clearance Officer.
[FR Doc. 2010-11834 Filed 5-17-10; 8:45 am]
BILLING CODE 4830-01-P
