Proposed Collection; Comment Request for Regulation Project, 63993 [2011-26680]

Download as PDF Federal Register / Vol. 76, No. 199 / Friday, October 14, 2011 / Notices 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: October 5, 2011. Yvette B. Lawrence, IRS Reports Clearance Officer. [FR Doc. 2011–26679 Filed 10–13–11; 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 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 BelowMarket Loans. DATES: Written comments should be received on or before December 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 regulation 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: tkelley on DSK3SPTVN1PROD with NOTICES SUMMARY: VerDate Mar<15>2010 15:20 Oct 13, 2011 Jkt 226001 Title: Below-Market Loans. OMB Number: 1545–0913. Regulation Project Number: FI–165–84 (Notice of Proposed rulemaking). Abstract: Internal Revenue Code section 7872 recharacterizes a belowmarket loan as a market rate loan and an additional transfer by the lender to the borrower equal to the amount of imputed interest. The regulation requires both the lender and the borrower to attach a statement to their respective income tax returns for years in which they have imputed income or claim imputed deductions under Code section 7872. Current Actions: There is no change to this existing regulation. Type of Review: Extension of a currently approved collection. Affected Public: Individuals or households, and business or other forprofit organizations. Estimated Number of Respondents: 1,631,202. Estimated Time per Respondent: 18 min. Estimated Total Annual Burden Hours: 481,722. 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. PO 00000 Frm 00093 Fmt 4703 Sfmt 4703 63993 Approved: October 5, 2011. Yvette B. Lawrence, IRS Reports Clearance Officer. [FR Doc. 2011–26680 Filed 10–13–11; 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 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 the Implementation of Form 990. DATES: Written comments should be received on or before December 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 regulations should be directed to Elaine Christophe at Internal Revenue Service, Room 6129, 1111 Constitution Avenue NW., Washington, DC 20224, or at (202) 622–3179, or through the Internet at Elaine.H.Christophe@irs.gov. SUMMARY: SUPPLEMENTARY INFORMATION: Title: Implementation of Form 990. OMB Number: 1545–2117. Regulation Project Number: TD 9423 & TD 9549. Abstract: This document contains final regulations necessary to implement the redesigned Form 990, ‘‘Return of Organization Exempt From Income Tax.’’ The final regulations contained in TD 9549 make revisions to the regulations to allow for new threshold amounts for reporting compensation, to require that compensation be reported on a calendar year basis, and to modify the scope of organizations subject to information reporting requirements upon a substantial contraction. The final regulations also eliminate the advance ruling process for new organizations, E:\FR\FM\14OCN1.SGM 14OCN1

Agencies

[Federal Register Volume 76, Number 199 (Friday, October 14, 2011)]
[Notices]
[Page 63993]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-26680]


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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.

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

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 
Below-Market Loans.

DATES: Written comments should be received on or before December 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 regulation 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: Below-Market Loans.
    OMB Number: 1545-0913. Regulation Project Number: FI-165-84 (Notice 
of Proposed rulemaking).
    Abstract: Internal Revenue Code section 7872 recharacterizes a 
below-market loan as a market rate loan and an additional transfer by 
the lender to the borrower equal to the amount of imputed interest. The 
regulation requires both the lender and the borrower to attach a 
statement to their respective income tax returns for years in which 
they have imputed income or claim imputed deductions under Code section 
7872.
    Current Actions: There is no change to this existing regulation.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals or households, and business or other 
for-profit organizations.
    Estimated Number of Respondents: 1,631,202.
    Estimated Time per Respondent: 18 min.
    Estimated Total Annual Burden Hours: 481,722.
    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: October 5, 2011.
Yvette B. Lawrence,
IRS Reports Clearance Officer.
[FR Doc. 2011-26680 Filed 10-13-11; 8:45 am]
BILLING CODE 4830-01-P
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