Proposed Collection; Comment Request For Regulation Project, 21097-21098 [2011-9001]

Download as PDF Federal Register / Vol. 76, No. 72 / Thursday, April 14, 2011 / Notices • Hand Delivery: 1200 New Jersey Avenue, SE., Room W12–140, Washington, DC 20590, between 9 a.m. and 5 p.m., Monday through Friday, except Federal Holidays. Communications received by May 16, 2011 will be considered by FRA before final action is taken. Comments received after that date will be considered as far as practicable. Anyone is able to search the electronic form of any written communications and comments received into any of our dockets by the name of the individual submitting the comment (or signing the comment, if submitted on behalf of an association, business, labor union, etc.). You may review DOT’s complete Privacy Act Statement in the Federal Register published on April 11, 2000 (Volume 65, Number 70; Pages 19477–78) or online at https://www.dot.gov/ privacy.html. Issued in Washington, DC on April 8, 2011. Robert C. Lauby, Deputy Associate Administrator for Regulatory & Legislative Operations. [FR Doc. 2011–8960 Filed 4–13–11; 8:45 am] BILLING CODE 4910–06–P DEPARTMENT OF THE TREASURY Internal Revenue Service 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)). Currently, the IRS is soliciting comments concerning Changes With Respect to Prizes and Awards and Employee Achievement Awards. SUMMARY: Written comments should be received on or before June 13, 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 additional information or mstockstill on DSKH9S0YB1PROD with NOTICES DATES: VerDate Mar<15>2010 20:32 Apr 13, 2011 Jkt 223001 copies of regulation should be directed to Joel Goldberger, (202) 927–9368, Internal Revenue Service, Room 6129, 1111 Constitution Avenue, NW., Washington, DC 20224, or through the Internet at Joel.P.Goldberger@irs.gov. SUPPLEMENTARY INFORMATION: Title: Changes With Respect to Prizes and Awards and Employee Achievement Awards. OMB Number: 1545–1100. Regulation Project Number: REG– 209106–89. Abstract: This regulation requires recipients of prizes and awards to maintain records to determine whether a qualifying designation has been made in accordance with section 74(b)(3) of the Internal Revenue Code. The affected public is prize and award recipients who seek to exclude the cost of a qualifying prize or award. 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: 5,100. Estimated Time per Respondent: 15 minutes. Estimated Total Annual Burden Hours: 1,275. 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 PO 00000 Frm 00158 Fmt 4703 Sfmt 4703 21097 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: April 8, 2011. Yvette B. Lawrence, IRS Reports Clearance Officer. [FR Doc. 2011–8997 Filed 4–13–11; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service 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 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 Treatment of Gain From the Disposition of Interest in Certain Natural Resource Recapture Property by S Corporations and Their Shareholders. DATES: Written comments should be received on or before June 13, 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 additional information or copies of the information collection should be directed to Joel Goldberger, at (202) 927–9368, or at Internal Revenue Service, room 6129, 1111 Constitution Avenue, NW., Washington, DC 20224, or through the Internet, at Joel.P.Goldberger@irs.gov. SUMMARY: SUPPLEMENTARY INFORMATION: Title: Treatment of Gain From the Disposition of Interest in Certain Natural Resource Recapture Property by S Corporations and Their Shareholders. OMB Number: 1545–1493. Regulation Project Number: T.D. 8684. Abstract: This regulation prescribes rules under Code section 1254 relating to the treatment by S corporations and their shareholders of gain from the disposition of natural resource recapture E:\FR\FM\14APN1.SGM 14APN1 mstockstill on DSKH9S0YB1PROD with NOTICES 21098 Federal Register / Vol. 76, No. 72 / Thursday, April 14, 2011 / Notices property and from the sale or exchange of S corporation stock. Section 1.1254– 4(c)(2) of the regulation provides that gain recognized on the sale or exchange of S corporation stock is not treated as ordinary income if the shareholder attaches a statement to his or her return containing information establishing that the gain is not attributable to section 1254 costs. 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, and individuals. Estimated Number of Respondents: 1,000. Estimated Time per Respondent: 1 hour. Estimated Total Annual Burden Hours: 1,000. 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: April 8, 2011. Yvette B. Lawrence, IRS Reports Clearance Officer. [FR Doc. 2011–9001 Filed 4–13–11; 8:45 am] BILLING CODE 4830–01–P VerDate Mar<15>2010 20:32 Apr 13, 2011 Jkt 223001 DEPARTMENT OF THE TREASURY Internal Revenue Service Internal Revenue Service Advisory Council (IRSAC); Nominations Internal Revenue Service, Department of the Treasury. ACTION: Request for applications. AGENCY: The Internal Revenue Service (IRS) requests applications of individuals to be considered for selection as members of the Internal Revenue Service Advisory Council (IRSAC). Nominations should describe and document the proposed member’s qualification for IRSAC membership, including the applicant’s knowledge of Circular 230 regulations and the applicant’s past or current affiliations and dealings with the particular tax segment or segments of the community that the applicant wishes to represent on the council. Applications will be accepted for current vacancies from qualified individuals and from professional and public interest groups that wish to have representatives on the IRSAC. The IRSAC is comprised of no more than thirty-five (35) appointed members; approximately twelve of these appointments will expire in December 2011. It is important that the IRSAC continue to represent a diverse taxpayer and stakeholder base. Accordingly, to maintain membership diversity, selection is based on the applicant’s qualifications as well as areas of expertise, geographic diversity, major stakeholder representation and customer segments. The Internal Revenue Service Advisory Council (IRSAC) provides an organized public forum for IRS officials and representatives of the public to discuss relevant tax administration issues. The council advises the IRS on issues that have a substantive effect on Federal tax administration. As an advisory body designed to focus on broad policy matters, the IRSAC reviews existing tax policy and/or recommends policies with respect to emerging tax administration issues. The IRSAC suggests operational improvements, offers constructive observations regarding current or proposed IRS policies, programs, and procedures, and advises the IRS with respect to issues having substantive effect on Federal tax administration. DATES: Written applications will be accepted from May 2, 2011 through June 17, 2011. ADDRESSES: Applications should be sent to National Public Liaison, CL:NPL:P, Room 7559 IR, 1111 Constitution SUMMARY: PO 00000 Frm 00159 Fmt 4703 Sfmt 4703 Avenue, NW., Washington, DC 20224, Attn: Lorenza Wilds; or by e-mail: *public_liaison@irs.gov. Applications may be submitted by mail to the address above or faxed to 202–927–4123. Application packages are available on the Tax Professional’s Page, which is located on the IRS Internet Web site at https://www.irs.gov/taxpros/. FOR FURTHER INFORMATION CONTACT: Ms. Lorenza Wilds, 202–622–6440 (not a toll-free number). SUPPLEMENTARY INFORMATION: IRSAC was authorized under the Federal Advisory Committee Act, Public Law 92–463. The first Advisory Group to the Commissioner of Internal Revenue—or the Commissioner’s Advisory Group (‘‘CAG’’)—was established in 1953 as a ‘‘national policy and/or issue advisory committee.’’ Renamed in 1998, the Internal Revenue Service Advisory Council (IRSAC) reflects the agencywide scope of its focus as an advisory body to the entire agency. The IRSAC’s primary purpose is to provide an organized public forum for senior IRS executives and representatives of the public to discuss relevant tax administration issues. Conveying the public’s perception of IRS activities, the IRSAC is comprised of individuals who bring substantial, disparate experience and diverse backgrounds on the Council’s activities. Membership is balanced to include representation from the taxpaying public, the tax professional community, small and large businesses, international, wage and investment taxpayers and the knowledge of Circular 230. IRSAC members are nominated by the Commissioner of the Internal Revenue Service with the concurrence of the Secretary of the Treasury to serve a three year term. There are four subcommittees of IRSAC, the Small Business/Self Employed (SB/SE); Large Business and International (LB&I); Wage & Investment (W&I); and the Office of Professional Responsibility (OPR). Members are not paid for their services. However, travel expenses for working sessions, public meetings and orientation sessions, such as airfare, per diem, and transportation to and from airports, train stations, etc., are reimbursed within prescribed Federal travel limitations. An acknowledgment of receipt will be sent to all applicants. In accordance with the Department of the Treasury Directive 21–03, a clearance process including annual tax checks and a practitioner check with the Office of Professional Responsibility will be conducted. In addition, all applicants E:\FR\FM\14APN1.SGM 14APN1

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[Federal Register Volume 76, Number 72 (Thursday, April 14, 2011)]
[Notices]
[Pages 21097-21098]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-9001]


-----------------------------------------------------------------------

DEPARTMENT OF THE TREASURY

Internal Revenue Service


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 
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 Treatment of Gain From the 
Disposition of Interest in Certain Natural Resource Recapture Property 
by S Corporations and Their Shareholders.

DATES: Written comments should be received on or before June 13, 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 additional information or 
copies of the information collection should be directed to Joel 
Goldberger, at (202) 927-9368, or at Internal Revenue Service, room 
6129, 1111 Constitution Avenue, NW., Washington, DC 20224, or through 
the Internet, at Joel.P.Goldberger@irs.gov.

SUPPLEMENTARY INFORMATION:
    Title: Treatment of Gain From the Disposition of Interest in 
Certain Natural Resource Recapture Property by S Corporations and Their 
Shareholders.
    OMB Number: 1545-1493.
    Regulation Project Number: T.D. 8684.
    Abstract: This regulation prescribes rules under Code section 1254 
relating to the treatment by S corporations and their shareholders of 
gain from the disposition of natural resource recapture

[[Page 21098]]

property and from the sale or exchange of S corporation stock. Section 
1.1254-4(c)(2) of the regulation provides that gain recognized on the 
sale or exchange of S corporation stock is not treated as ordinary 
income if the shareholder attaches a statement to his or her return 
containing information establishing that the gain is not attributable 
to section 1254 costs.
    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, and 
individuals.
    Estimated Number of Respondents: 1,000.
    Estimated Time per Respondent: 1 hour.
    Estimated Total Annual Burden Hours: 1,000.
    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: April 8, 2011.
Yvette B. Lawrence,
IRS Reports Clearance Officer.
[FR Doc. 2011-9001 Filed 4-13-11; 8:45 am]
BILLING CODE 4830-01-P

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