Proposed Collection: Comment Request for Regulation Project, 61241 [2010-24756]

Download as PDF Federal Register / Vol. 75, No. 191 / Monday, October 4, 2010 / 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: September 15, 2010. Gerald Shields, IRS Supervisory Tax Analyst. [FR Doc. 2010–24761 Filed 10–1–10; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service [REG–157711–02] 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 notice of proposed rulemaking, REG–157711–02 (TD 9424—final), Unified Rule for Loss on Subsidiary Stock. DATES: Written comments should be received on or before December 3, 2010 to be assured of consideration. ADDRESSES: Direct all written comments to Gerald J. 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 jlentini on DSKJ8SOYB1PROD with NOTICES SUMMARY: VerDate Mar<15>2010 17:23 Oct 01, 2010 Jkt 223001 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: Unified Rule for Loss on Subsidiary Stock. OMB Number: 1545–2096. Regulation Project Number: REG– 157711–02 (TD 9424—final). Abstract: This document contains final regulations under sections 358, 362(e)(2), and 1502 of the Internal Revenue Code (Code). The regulations apply to corporations filing consolidated returns, and corporations that enter into certain tax-free reorganizations. The regulations provide rules for determining the tax consequences of a member’s transfer (including by deconsolidation and worthlessness) of loss shares of subsidiary stock. In addition, the regulations provide that section 362(e)(2) generally does not apply to transactions between members of a consolidated group. Finally, the regulations conform or clarify various provisions of the consolidated return regulations, including those relating to adjustments to subsidiary stock basis. 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. Estimated Number of Respondents: 100. Estimated Time per Respondent: 15 minutes. Estimated Total Annual Burden Hours: 25. 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 PO 00000 Frm 00123 Fmt 4703 Sfmt 4703 61241 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: September 28, 2010. R. Joseph Durbala, IRS Tax Analyst. [FR Doc. 2010–24756 Filed 10–1–10; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Form 8838 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 8838, Consent To Extend the Time To Assess Tax Under Section 367—Gain Recognition Agreement. DATES: Written comments should be received on or before December 3, 2010 to be assured of consideration. ADDRESSES: Direct all written comments to Gerald J. Shields, Internal Revenue Service, room 6129, 1111 Constitution Avenue, NW., Washington, DC 20224. FOR FURTHER INFORMATION CONTACT: Requests for copies of the form and instructions should be directed to R. Joseph Durbala at Internal Revenue Service, room 6129, 1111 Constitution Avenue, NW., Washington, DC 20224, or at (202) 622–3634, or through the Internet at RJoseph.Durbala@irs.gov. SUPPLEMENTARY INFORMATION: Title: Consent To Extend the Time To Assess Tax Under Section 367—Gain Recognition Agreement. SUMMARY: E:\FR\FM\04OCN1.SGM 04OCN1

Agencies

[Federal Register Volume 75, Number 191 (Monday, October 4, 2010)]
[Notices]
[Page 61241]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-24756]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

[REG-157711-02]


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 notice of proposed rulemaking, REG-157711-02 (TD 9424--final), 
Unified Rule for Loss on Subsidiary Stock.

DATES: Written comments should be received on or before December 3, 
2010 to be assured of consideration.

ADDRESSES: Direct all written comments to Gerald J. 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 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: Unified Rule for Loss on Subsidiary Stock.
    OMB Number: 1545-2096.
    Regulation Project Number: REG-157711-02 (TD 9424--final).
    Abstract: This document contains final regulations under sections 
358, 362(e)(2), and 1502 of the Internal Revenue Code (Code). The 
regulations apply to corporations filing consolidated returns, and 
corporations that enter into certain tax-free reorganizations. The 
regulations provide rules for determining the tax consequences of a 
member's transfer (including by deconsolidation and worthlessness) of 
loss shares of subsidiary stock. In addition, the regulations provide 
that section 362(e)(2) generally does not apply to transactions between 
members of a consolidated group. Finally, the regulations conform or 
clarify various provisions of the consolidated return regulations, 
including those relating to adjustments to subsidiary stock basis.
    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.
    Estimated Number of Respondents: 100.
    Estimated Time per Respondent: 15 minutes.
    Estimated Total Annual Burden Hours: 25.
    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: September 28, 2010.
R. Joseph Durbala,
IRS Tax Analyst.
[FR Doc. 2010-24756 Filed 10-1-10; 8:45 am]
BILLING CODE 4830-01-P