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