Proposed Collection; Comment Request for Form 8697, 47648-47649 [2011-19845]
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erowe on DSKG8SOYB1PROD with NOTICES
47648
Federal Register / Vol. 76, No. 151 / Friday, August 5, 2011 / Notices
OMB Number: 1545–1662.
Form Number: REG–121063–97; TD
8972 (Final).
Abstract: Section 1301 of the Internal
Revenue Code allows an individual
engaged in a farming business to elect
to reduce his or her regular tax liability
by treating all or a portion of the current
year’s farming income as if it had been
earned in equal proportions over the
prior three years. To take advantage of
income averaging, § 1301 requires that
the taxpayer calculate the § 1 tax using
the three prior year’s tax tables and, if
applicable, Schedule D, Capital Gains
and Losses, (to apply the maximum
capital gains tax rates), as well as the
current year’s tax tables or tax rate
schedules. The regulation requires the
taxpayer to use Schedule J of Form 1040
to record and total the amount of tax for
each year of the four year calculation.
Current Actions: There are no changes
to this existing regulation.
Type of Review: Extension of a
currently approved collection.
The burden for this requirement is
reflected in the burden estimate for
Schedule J of Form 1040.
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
15:16 Aug 04, 2011
Jkt 223001
Approved: July 27, 2011.
Yvette B. Lawrence,
IRS Reports Clearance Officer.
[FR Doc. 2011–19840 Filed 8–4–11; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment
Request for Form 8850
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
8850, Pre-Screening Notice and
Certification Request for the Work
Opportunity and Welfare-to-Work
Credits.
DATES: Written comments should be
received on or before October 4, 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 form and instructions
should be directed to Elaine Christophe,
at (202) 622–3179, or at Internal
Revenue Service, Room 6129, 1111
Constitution Avenue, NW., Washington,
DC 20224, or through the Internet at
Elaine.H.Christophe@irs.gov.
SUPPLEMENTARY INFORMATION: Title: PreScreening Notice and Certification
Request for the Work Opportunity and
Welfare-to-Work Credits.
OMB Number: 1545–1500.
Form Number: 8850.
Abstract: Employers use Form 8850 as
part of a written request to a state
employment security agency to certify
an employee as a member of a targeted
group for purposes of qualifying for the
work opportunity credit or the welfareto-work credit. The work opportunity
credit and the welfare-to-work credit
cover individuals who begin work for
the employer before July 1, 1999.
Current Actions: There are no changes
being made to Form 8850 at this time.
SUMMARY:
PO 00000
Frm 00112
Fmt 4703
Sfmt 4703
Type of Review: Extension of a
currently approved collection.
Affected Public: Businesses or other
for-profit organizations.
Estimated Number of Respondents:
440,000.
Estimated Time per Respondent: 4 hr.,
44 min.
Estimated Total Annual Burden
Hours: 2,081,200.
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: July 27, 2011.
Yvette B. Lawrence,
IRS Reports Clearance Officer.
[FR Doc. 2011–19843 Filed 8–4–11; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment
Request for Form 8697
Internal Revenue Service (IRS),
Treasury.
ACTION: Notice and request for
comments.
AGENCY:
E:\FR\FM\05AUN1.SGM
05AUN1
Federal Register / Vol. 76, No. 151 / Friday, August 5, 2011 / Notices
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
8697, Interest Computation Under the
Look-Back Method for Completed LongTerm Contracts.
DATES: Written comments should be
received on or before October 4, 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 form and instructions
should be directed to Elaine Christophe
at Internal Revenue Service, room 6512,
1111 Constitution Avenue, NW.,
Washington, DC 20224, or at (202) 622–
3179, or through the internet at
Elaine.H.Christophe@irs.gov.
SUMMARY:
erowe on DSKG8SOYB1PROD with NOTICES
SUPPLEMENTARY INFORMATION:
Title: Interest Computation Under the
Look-Back Method for Completed LongTerm Contracts.
OMB Number: 1545–1031.
Form Number: Form 8697.
Abstract: Taxpayers who are required
to account for all or part of any longterm contract entered into after February
28, 1986, under the percentage of
completion method must use Form 8697
to compute and report interest due or to
be refunded under Internal Revenue
Code section 460(b). The IRS uses Form
8697 to determine if the interest has
been figured correctly.
Current Actions: There are no changes
being made to the Form 8697 at this
time.
Type of Review: Extension of a
currently approved collection.
Affected Public: Business or other forprofit organizations and individuals.
Estimated Number of Respondents:
3,333.
Estimated Time per Respondent: 16
hrs, 45 minutes.
Estimated Total Annual Burden
Hours: 55,828.
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.
VerDate Mar<15>2010
15:16 Aug 04, 2011
Jkt 223001
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: July 27, 2011.
Yvette B. Lawrence,
IRS Reports Clearance Officer.
[FR Doc. 2011–19845 Filed 8–4–11; 8:45 am]
BILLING CODE P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
[Notice 2005–38]
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 Notice
2005–38, Limitations on Dividends
Received Deduction and Other
Guidance.
SUMMARY:
PO 00000
Frm 00113
Fmt 4703
Sfmt 4703
47649
Written comments should be
received on or before October 4, 2011 to
be assured of consideration.
ADDRESSES: Direct all written comments
to Yvette Lawrence, Internal Revenue
Service, room 6516, 1111 Constitution
Avenue, NW., Washington, DC 20224.
FOR FURTHER INFORMATION CONTACT:
Requests for additional information or
copies of the regulation should be
directed to Elaine Christophe, at (202)
622–3179, or at Internal Revenue
Service, room 6512, 1111 Constitution
Avenue, NW., Washington, DC 20224,
or through the Internet, at
(Elaine.H.Christophe@irs.gov.)
DATES:
SUPPLEMENTARY INFORMATION:
Title: Limitations on Dividends
Received Deduction and Other
Guidance.
OMB Number: 1545–1943.
Regulation Project Number: Notice—
2005–38.
Abstract: This document provides
guidance under new section 965, which
was enacted by the American Jobs
Creation Act of 2004 (Pub. L. 108–357).
In general, and subject to limitations
and conditions, section 975(a) provides
that a corporation that is a U.S.
shareholder of a controlled foreign
corporation (CFC) may elect, for one
taxable year, an 85 percent dividends
received deduction (DRD) with respect
to certain cash dividends it receives
from its CFCs. This document addresses
limitations imposed on the maximum
amount of section 965(a) DRD under
section 965(b)(1) (under which the
maximum amount of an eligible
dividend is the greatest of $500 million,
or earnings permanently reinvested
outside the United States), section
965(b)(2) (regarding certain base-period
repatriations), section 965(b)(3)
(regarding certain increases in related
party indebtedness), and certain
miscellaneous limitations (related to the
foreign tax credit).
Current Actions: There is no change to
this notice.
Type of Review: Extension of OMB
approval.
Affected Public: Business or other forprofit organizations.
Estimated Number of Respondents:
25,000.
Estimated Time per Respondent: 50
hours.
Estimated Total Annual Burden
Hours: 1,250,000.
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
E:\FR\FM\05AUN1.SGM
05AUN1
]]>Agencies
[Federal Register Volume 76, Number 151 (Friday, August 5, 2011)]
[Notices]
[Pages 47648-47649]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-19845]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment Request for Form 8697
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Notice and request for comments.
-----------------------------------------------------------------------
[[Page 47649]]
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
Form 8697, Interest Computation Under the Look-Back Method for
Completed Long-Term Contracts.
DATES: Written comments should be received on or before October 4, 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 form and instructions should be directed to Elaine
Christophe at Internal Revenue Service, room 6512, 1111 Constitution
Avenue, NW., Washington, DC 20224, or at (202) 622-3179, or through the
internet at Elaine.H.Christophe@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Interest Computation Under the Look-Back Method for
Completed Long-Term Contracts.
OMB Number: 1545-1031.
Form Number: Form 8697.
Abstract: Taxpayers who are required to account for all or part of
any long-term contract entered into after February 28, 1986, under the
percentage of completion method must use Form 8697 to compute and
report interest due or to be refunded under Internal Revenue Code
section 460(b). The IRS uses Form 8697 to determine if the interest has
been figured correctly.
Current Actions: There are no changes being made to the Form 8697
at this time.
Type of Review: Extension of a currently approved collection.
Affected Public: Business or other for-profit organizations and
individuals.
Estimated Number of Respondents: 3,333.
Estimated Time per Respondent: 16 hrs, 45 minutes.
Estimated Total Annual Burden Hours: 55,828.
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: July 27, 2011.
Yvette B. Lawrence,
IRS Reports Clearance Officer.
[FR Doc. 2011-19845 Filed 8-4-11; 8:45 am]
BILLING CODE P
