Proposed Collection; Comment Request for Regulation Project, 13448 [2011-5566]

Download as PDF srobinson on DSKHWCL6B1PROD with NOTICES 13448 Federal Register / Vol. 76, No. 48 / Friday, March 11, 2011 / Notices Title: Product Liability Losses and Accumulations for Product Liability Losses. OMB Number: 1545–0863. Regulation Project Number: TD 8096. Abstract: This document provides final regulation relating to product liability losses and accumulations for the payment of reasonable anticipated product liability losses. Changes to the applicable tax law were made by the Revenue Act of 1978. The regulations would provide the public with guidance needed lo comply with the applicable parts of act. Current Actions: There is no change to this existing regulation. Type of Review: Extension of currently approved collection. Affected Public: Business or other forprofit organizations. Estimated Number of Respondents: 5,000. Estimated Average Time per Respondent: 30 minutes. Estimated Total Annual Burden Hours: 2,500. 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. VerDate Mar<15>2010 17:08 Mar 10, 2011 Jkt 223001 Approved: March 3, 2011. Yvette Lawrence, IRS Reports Clearance Officer. [FR Doc. 2011–5565 Filed 3–10–11; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service [REG–209365–89] (T.D. 9013) 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 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)). The IRS is soliciting comments concerning a final regulation, REG–209365–89 (T.D. 9013), Limitations on Passive Activity Losses and Credits—Treatment of Self-Charged Items of Income and Expense (Section 1.469–7(f)). DATES: Written comments should be received on or before May 10, 2011 to be assured of consideration. ADDRESSES: Direct all written comments to Yvette B. Lawrence, Internal Revenue Service, Room 6129, 1111 Constitution Avenue, NW., Washington, DC 20224. FOR FURTHER INFORMATION CONTACT: Requests for copies of the regulations should be directed to Joel Goldberger at Internal Revenue Service, Room 6129, 1111 Constitution Avenue, NW., Washington, DC 20224, or at (202) 927– 9368, or through the Internet at Joel.P.Goldberger@irs.gov. SUMMARY: SUPPLEMENTARY INFORMATION: Title: Limitation on Passive Activity Losses and Credits—Treatment of SelfCharged Items of Income and Expense. OMB Number: 1545–1244. Regulation Project Number: REG– 209365–89 (T.D. 9013). Abstract: Section 1.469–7(f)(1) of this regulation permits entities to elect to avoid application of the regulation in the event the pass-through entity chooses to not have the income from leading transactions with owners of interests in the entity re-characterized as passive activity gross income. The IRS will use this information to determine PO 00000 Frm 00111 Fmt 4703 Sfmt 9990 whether the entity has made a proper timely election and to determine that taxpayers are complying with the election in the taxable year of the election and subsequent taxable years. Current Actions: There is no change to this existing regulation. Type of Review: Extension of currently approved collection. Affected Public: Individuals and business or other for-profit organizations. Estimated Number of Respondents: 1,000. Estimated Total Annual Burden Hours: 150. The following paragraph applies to all 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 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: March 2, 2011. Yvette B. Lawrence, IRS Reports Clearance Officer. [FR Doc. 2011–5566 Filed 3–10–11; 8:45 am] BILLING CODE 4830–01–P E:\FR\FM\11MRN1.SGM 11MRN1

Agencies

[Federal Register Volume 76, Number 48 (Friday, March 11, 2011)]
[Notices]
[Page 13448]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-5566]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

[REG-209365-89] (T.D. 9013)


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 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)). The 
IRS is soliciting comments concerning a final regulation, REG-209365-89 
(T.D. 9013), Limitations on Passive Activity Losses and Credits--
Treatment of Self-Charged Items of Income and Expense (Section 1.469-
7(f)).

DATES: Written comments should be received on or before May 10, 2011 to 
be assured of consideration.

ADDRESSES: Direct all written comments to Yvette B. Lawrence, Internal 
Revenue Service, Room 6129, 1111 Constitution Avenue, NW., Washington, 
DC 20224.

FOR FURTHER INFORMATION CONTACT: Requests for copies of the regulations 
should be directed to Joel Goldberger at Internal Revenue Service, Room 
6129, 1111 Constitution Avenue, NW., Washington, DC 20224, or at (202) 
927-9368, or through the Internet at Joel.P.Goldberger@irs.gov.

SUPPLEMENTARY INFORMATION:
    Title: Limitation on Passive Activity Losses and Credits--Treatment 
of Self-Charged Items of Income and Expense.
    OMB Number: 1545-1244.
    Regulation Project Number: REG-209365-89 (T.D. 9013).
    Abstract: Section 1.469-7(f)(1) of this regulation permits entities 
to elect to avoid application of the regulation in the event the pass-
through entity chooses to not have the income from leading transactions 
with owners of interests in the entity re-characterized as passive 
activity gross income. The IRS will use this information to determine 
whether the entity has made a proper timely election and to determine 
that taxpayers are complying with the election in the taxable year of 
the election and subsequent taxable years.
    Current Actions: There is no change to this existing regulation.
    Type of Review: Extension of currently approved collection.
    Affected Public: Individuals and business or other for-profit 
organizations.
    Estimated Number of Respondents: 1,000.
    Estimated Total Annual Burden Hours: 150.
    The following paragraph applies to all 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 
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: March 2, 2011.
Yvette B. Lawrence,
IRS Reports Clearance Officer.
[FR Doc. 2011-5566 Filed 3-10-11; 8:45 am]
BILLING CODE 4830-01-P