Proposed Collection; Comment Request for Regulation Project, 36623-36624 [2011-15566]

Download as PDF mstockstill on DSK4VPTVN1PROD with NOTICES Federal Register / Vol. 76, No. 120 / Wednesday, June 22, 2011 / Notices properly reported as required by Internal Revenue Code section 6042, that liquidation distributions are correctly reported as required by Code section 6043, and to determine whether payees are correctly reporting their income. Current Actions: Two line items were deleted. Type of Review: Extension of a currently approved collection. Affected Public: Business or other forprofit organizations. Estimated Number of Responses: 111,922,150. Estimated Time per Response: 18 minutes. Estimated Total Annual Burden Hours: 34,695,867. 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: June 16, 2011. Allan Hopkins, Tax Analyst. [FR Doc. 2011–15575 Filed 6–21–11; 8:45 am] BILLING CODE 4830–01–P VerDate Mar<15>2010 16:40 Jun 21, 2011 Jkt 223001 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 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 requirements respecting the adoption or change of accounting method; extensions of time to make elections. DATES: Written comments should be received on or before August 22, 2011 to be assured of consideration. ADDRESSES: Direct all written comments to Yvette 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 regulation should be directed to Allan Hopkins, at (202) 622– 6665, or at Internal Revenue Service, room 6129, 1111 Constitution Avenue, NW., Washington, DC 20224, or through the Internet, at Allan.M.HopkinsAirs.gov. SUPPLEMENTARY INFORMATION: Title: Requirements Respecting the Adoption or Change of Accounting Method; Extensions of Time to Make Elections. OMB Number: 1545–1488. Regulation Project Number: REG–209837–96. Abstract: This final regulation provides the procedures for requesting an extension of time to make certain elections, including changes in accounting method and accounting period. In addition, the regulation provides the standards that the IRS will use in determining whether to grant taxpayers extensions of time to make these elections. 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, individuals, notfor-profit institutions, and farms. Estimated Number of Respondents: 500. SUMMARY: PO 00000 Frm 00112 Fmt 4703 Sfmt 4703 36623 Estimated Time Per Respondent: 10 hours. Estimated Total Annual Burden Hours: 5,000. 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: June 16, 2011. Allan Hopkins, IRS Reports Clearance Officer. [FR Doc. 2011–15564 Filed 6–21–11; 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 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 SUMMARY: E:\FR\FM\22JNN1.SGM 22JNN1 36624 Federal Register / Vol. 76, No. 120 / Wednesday, June 22, 2011 / Notices 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 information collection requirements related to methods to determine taxable income in connection with a cost sharing arrangement. Written comments should be received on or before August 22, 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 this 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: Methods to Determine Taxable Income in Connection with a Cost Sharing Arrangement. OMB Number: 1545–1364. Regulation Project Number: REG– 144615–02 (T.D. 9441). Abstract: The collection of information related to the IRS’s assessment of whether a cost sharing arrangement is valid, and whether each participant’s share of costs is proportionate to the participants share of benefits, and whether arm’s length compensation has been paid to those participants providing external contributions such that an appropriate return is provided to those participants for putting their funds at risk to a greater extent than the other participants. This document contains temporary regulations that provide further guidance and clarification regarding methods under section 482 to determine taxable income in connection with a cost sharing arrangement in order to address issues that have arisen in administering the current regulations. The temporary regulations affect domestic and foreign entities that enter into cost sharing arrangements described in the temporary regulations. The text of these temporary regulations also serves as the text of the proposed regulations set forth in the Proposed Rules section in the issue of the Federal Register dated January 5, 2009, (74 FR 340). Current Actions: There is no change to this existing regulation. Type of Review: Extension of a currently approved collection. mstockstill on DSK4VPTVN1PROD with NOTICES DATES: VerDate Mar<15>2010 16:40 Jun 21, 2011 Jkt 223001 Affected Public: Business or other forprofit organizations. Estimated Number of Respondents: 500. Estimated Total Annual Burden Hours: 9,350. 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: June 14, 2011. Yvette B. Lawrence, IRS Reports Clearance Officer. [FR Doc. 2011–15566 Filed 6–21–11; 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 continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this SUMMARY: PO 00000 Frm 00113 Fmt 4703 Sfmt 4703 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 information collection requirements related to Instructions for Requesting Rulings and Determination Letters. DATES: Written comments should be received on or before August 22, 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 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: Instructions for Requesting Rulings and Determination Letters. OMB Number: 1545–0819. Regulation Project Number: T.D. 9006. Abstract: This document contains final regulations relating to the notice to interested parties requirement. Before the IRS can issue an advance determination regarding the qualification of a retirement plan, a plan sponsor must provide evidence that it has notified all persons who qualify as interested parties that an application for an advance determination will be filed with the IRS. These regulations set forth standards by which a plan sponsor may satisfy the notice to interested parties requirement. The final regulations affect retirement plan sponsors, plan participants and other interested parties with respect to a determination letter application, and certain representatives of interested parties. Current Actions: There is no change to this existing regulation. Type of Review: Extension of a currently approved collection. Affected Public: All Taxpayers. Estimated Number of Respondents: 271,914. The estimated annual burden per respondent varies from 15 minutes to 1 hour, depending on individual circumstances, with an estimated average of 55 minutes. Estimated Total Annual Burden Hours: 248,496. 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 E:\FR\FM\22JNN1.SGM 22JNN1

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[Federal Register Volume 76, Number 120 (Wednesday, June 22, 2011)]
[Notices]
[Pages 36623-36624]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-15566]


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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.

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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

[[Page 36624]]

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 information collection requirements related to methods to 
determine taxable income in connection with a cost sharing arrangement.

DATES: Written comments should be received on or before August 22, 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 this 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: Methods to Determine Taxable Income in Connection with a 
Cost Sharing Arrangement.
    OMB Number: 1545-1364.
    Regulation Project Number: REG-144615-02 (T.D. 9441).
    Abstract: The collection of information related to the IRS's 
assessment of whether a cost sharing arrangement is valid, and whether 
each participant's share of costs is proportionate to the participants 
share of benefits, and whether arm's length compensation has been paid 
to those participants providing external contributions such that an 
appropriate return is provided to those participants for putting their 
funds at risk to a greater extent than the other participants.
    This document contains temporary regulations that provide further 
guidance and clarification regarding methods under section 482 to 
determine taxable income in connection with a cost sharing arrangement 
in order to address issues that have arisen in administering the 
current regulations. The temporary regulations affect domestic and 
foreign entities that enter into cost sharing arrangements described in 
the temporary regulations. The text of these temporary regulations also 
serves as the text of the proposed regulations set forth in the 
Proposed Rules section in the issue of the Federal Register dated 
January 5, 2009, (74 FR 340).
    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: 500.
    Estimated Total Annual Burden Hours: 9,350.
    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: June 14, 2011.
Yvette B. Lawrence,
IRS Reports Clearance Officer.
[FR Doc. 2011-15566 Filed 6-21-11; 8:45 am]
BILLING CODE 4830-01-P