Proposed Collection; Comment Request for Regulation Project, 38870-38871 [2010-16259]

Download as PDF 38870 Federal Register / Vol. 75, No. 128 / Tuesday, July 6, 2010 / Notices 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. wwoods2 on DSK1DXX6B1PROD with NOTICES_PART 1 SUPPLEMENTARY INFORMATION: Title: Generation-Skipping Transfer Tax. OMB Number: 1545–0985 (TD 8644). Regulation Project Number: PS–127– 86; PS–128–86; PS–73–88 (TD 8644). Abstract: This regulation provides rules relating to the effective date, return requirements, definitions, and certain rules covering the generationskipping transfer tax. The information required by the regulation will require individuals and/or fiduciaries to report information on Forms 706, 706NA, 706GS (D), 706GS (D–1), 706GS (T), 709, and 843 in connection with the generation skipping transfer tax. The information will facilitate the assessment of the tax and taxpayer examinations. Current Actions: There is no change to this existing regulation. Type of Review: Extension of OMB approval. Affected Public: Individuals and households, and Business or other forprofit organizations. Estimated Number of Respondents: 10. Estimated Time per Respondent: 30 minutes. Estimated Total Annual Burden Hours: 50. 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 VerDate Mar<15>2010 14:52 Jul 02, 2010 Jkt 220001 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: June 22, 2010. Gerald Shields, IRS Supervisory Tax Analyst. [FR Doc. 2010–16232 Filed 7–2–10; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service [REG–153841–02] 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, REG–153841– 02, Election Out of GST Deemed Allocations. DATES: Written comments should be received on or before September 7, 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 regulations 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: Election Out of GST Deemed Allocations. OMB Number: 1545–1892. Regulation Project Number: REG– 153841–02. PO 00000 Frm 00107 Fmt 4703 Sfmt 4703 Abstract: This information is required by the IRS for taxpayers who elect to have the automatic allocation rules not apply to the current transfer and/or to future transfers to the trust or to terminate such election. This information is also required by the IRS for taxpayers who elect to treat trusts described in section 2632(c)(3)(B)(i) through (vi) as GST trusts or to terminate such election. This information will be used to identify the trusts to which the election or termination of election will apply. Current Actions: There is no change to this existing regulation. Type of Review: Extension of a currently approved collection. Affected Public: Individuals or households. Estimated Number of Respondents: 25,000. Estimated Time per Respondent: 30 minutes. Estimated total annual burden hours: 12,500. 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\06JYN1.SGM 06JYN1 Federal Register / Vol. 75, No. 128 / Tuesday, July 6, 2010 / Notices Approved: June 24, 2010. Gerald Shields, IRS Tax Supervisory Analyst. [FR Doc. 2010–16259 Filed 7–2–10; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Revenue Procedure 2004– 29 wwoods2 on DSK1DXX6B1PROD with NOTICES_PART 1 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 Procedure 2004–29, Statistical Sampling in § 274 Context. DATES: Written comments should be received on or before September 7, 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 revenue procedure 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: Statistical Sampling in § 274 Contest. OMB Number: 1545–1847. Revenue Procedure Number: Revenue Procedure 2004–29. Abstract: Revenue Procedure 2004–29 prescribes the statistical sampling methodology by which taxpayers under examination, making claims for refunds or filing original returns may establish the amounts of substantiated meal and entertainment expenses that are excepted from the 50% deduction disallowance of § 274(n)(1) under § 274(n)(2)(A), (C), (D), or (E). Current Actions: There are no changes being made to the revenue procedure at this time. VerDate Mar<15>2010 14:52 Jul 02, 2010 Jkt 220001 Type of Review: Extension of a currently approved collection. Affected Public: Business or other forprofit organizations. Estimated Number of Respondents: 400. Estimated Annual Average Time per Respondent: 8 hours. Estimated Total Annual Hours: 3,200. 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: June 24, 2010. Gerald Shields, IRS Supervisory Tax Analyst. [FR Doc. 2010–16257 Filed 7–2–10; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Form 8866 AGENCY: Internal Revenue Service (IRS), Treasury. ACTION: Notice and request for comments. SUMMARY: The Department of the Treasury, as part of its continuing effort PO 00000 Frm 00108 Fmt 4703 Sfmt 4703 38871 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 8866, Interest Computation Under the Look-Back Method for Property Depreciated Under the Income Forecast Method. DATES: Written comments should be received on or before September 7, 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: Interest Computation Under the Look-Back Method for Property Depreciated Under the Income Forecast Method. OMB Number: 1545–1622. Form Number: Form 8866. Abstract: Taxpayers depreciating property under the income forecast method and placed in service after September 13, 1995, must use Form 8866 to compute and report interest due or to be refunded under Internal Revenue Code 167(g)(2). The Internal Revenue Service uses the information on Form 8866 to determine if the interest has been figured correctly. Current Actions: There are no changes being made to the form at this time. Type of Review: Extension of a currently approved collection. Affected Public: Individuals or households, and business or other forprofit organizations. Estimated Number of Respondents: 3,300. Estimated Time per Respondent: 13 hours, 22 minutes. Estimated Total Annual Burden Hours: 44,121. 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. E:\FR\FM\06JYN1.SGM 06JYN1

Agencies

[Federal Register Volume 75, Number 128 (Tuesday, July 6, 2010)]
[Notices]
[Pages 38870-38871]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-16259]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

[REG-153841-02]


Proposed Collection; Comment Request for Regulation Project

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

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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, REG-153841-02, Election Out of GST Deemed 
Allocations.

DATES: Written comments should be received on or before September 7, 
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 regulations 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: Election Out of GST Deemed Allocations.
    OMB Number: 1545-1892.
    Regulation Project Number: REG-153841-02.
    Abstract: This information is required by the IRS for taxpayers who 
elect to have the automatic allocation rules not apply to the current 
transfer and/or to future transfers to the trust or to terminate such 
election. This information is also required by the IRS for taxpayers 
who elect to treat trusts described in section 2632(c)(3)(B)(i) through 
(vi) as GST trusts or to terminate such election. This information will 
be used to identify the trusts to which the election or termination of 
election will apply.
    Current Actions: There is no change to this existing regulation.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals or households.
    Estimated Number of Respondents: 25,000.
    Estimated Time per Respondent: 30 minutes.
    Estimated total annual burden hours: 12,500.
    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.


[[Page 38871]]


    Approved: June 24, 2010.
Gerald Shields,
IRS Tax Supervisory Analyst.
[FR Doc. 2010-16259 Filed 7-2-10; 8:45 am]
BILLING CODE 4830-01-P