Proposed Collection; Comment Request for Regulation Project, 49026 [2010-19873]
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49026
Federal Register / Vol. 75, No. 155 / Thursday, August 12, 2010 / Notices
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 3, 2010.
Gerald Shields,
Supervisory Tax Analyst.
[FR Doc. 2010–19880 Filed 8–11–10; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
[PS–276–76]
Proposed Collection; Comment
Request for Regulation Project
Internal Revenue Service (IRS),
Treasury.
ACTION: Notice and request for
comments.
AGENCY:
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–276–76 (TD
8586), Treatment of Gain From
Disposition of Certain Natural Resource
Recapture Property (Sections 1.1254–
1(c)(3) and 1.1254–5(d)(2)).
jlentini on DSKJ8SOYB1PROD with NOTICES
SUMMARY:
VerDate Mar<15>2010
16:22 Aug 11, 2010
Jkt 220001
Written comments should be
received on or before October 12, 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 regulation should be
directed to Allan Hopkins at Internal
Revenue Service, room 6129, 1111
Constitution Avenue, NW., Washington,
DC 20224 or at (202) 622–6665, or
through the Internet at
Allan.M.Hopkins@irs.gov.
DATES:
SUPPLEMENTARY INFORMATION:
Title: Treatment of Gain From
Disposition of Certain Natural Resource
Recapture Property.
OMB Number: 1545–1352.
Regulation Project Number: PS–276–
76.
Abstract: This regulation prescribes
rules for determining the tax treatment
of gain from the disposition of natural
resource recapture property in
accordance with Internal Revenue Code
section 1254. Gain is treated as ordinary
income in an amount equal to the
intangible drilling and development
costs and depletion deductions taken
with respect to the property. The
information that taxpayers are required
to retain will be used by the IRS to
determine whether a taxpayer has
properly characterized gain on the
disposition of section 1254 property.
Current Actions: There is no change to
this existing regulation.
Type of Review: Extension of OMB
approval.
Affected Public: Individuals and
business or other for-profit
organizations.
Estimated Number of Respondents:
400.
Estimated Time per Respondent: 5
hours.
Estimated Total Annual Burden
Hours: 2,000.
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
PO 00000
Frm 00106
Fmt 4703
Sfmt 4703
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 3, 2010.
Gerald Shields,
Supervisory Tax Analyst.
[FR Doc. 2010–19873 Filed 8–11–10; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment
Request for Form 8877
Internal Revenue Service (IRS),
Treasury.
ACTION: Notice and request for
comments.
AGENCY:
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
8877, Request for Waiver of Annual
Income Recertification Requirement for
the Low-Income Housing Credit.
DATES: Written comments should be
received on or before October 12, 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 Allan Hopkins at
Internal Revenue Service, room 6129,
SUMMARY:
E:\FR\FM\12AUN1.SGM
12AUN1
]]>Agencies
[Federal Register Volume 75, Number 155 (Thursday, August 12, 2010)]
[Notices]
[Page 49026]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-19873]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
[PS-276-76]
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-276-76 (TD 8586), Treatment of Gain From
Disposition of Certain Natural Resource Recapture Property (Sections
1.1254-1(c)(3) and 1.1254-5(d)(2)).
DATES: Written comments should be received on or before October 12,
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 regulation should be directed to Allan Hopkins at
Internal Revenue Service, room 6129, 1111 Constitution Avenue, NW.,
Washington, DC 20224 or at (202) 622-6665, or through the Internet at
Allan.M.Hopkins@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Treatment of Gain From Disposition of Certain Natural
Resource Recapture Property.
OMB Number: 1545-1352.
Regulation Project Number: PS-276-76.
Abstract: This regulation prescribes rules for determining the tax
treatment of gain from the disposition of natural resource recapture
property in accordance with Internal Revenue Code section 1254. Gain is
treated as ordinary income in an amount equal to the intangible
drilling and development costs and depletion deductions taken with
respect to the property. The information that taxpayers are required to
retain will be used by the IRS to determine whether a taxpayer has
properly characterized gain on the disposition of section 1254
property.
Current Actions: There is no change to this existing regulation.
Type of Review: Extension of OMB approval.
Affected Public: Individuals and business or other for-profit
organizations.
Estimated Number of Respondents: 400.
Estimated Time per Respondent: 5 hours.
Estimated Total Annual Burden Hours: 2,000.
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 3, 2010.
Gerald Shields,
Supervisory Tax Analyst.
[FR Doc. 2010-19873 Filed 8-11-10; 8:45 am]
BILLING CODE 4830-01-P
