Proposed Collection; Comment Request for Regulation Project, 72767 [2011-30419]

Agencies

• Internal Revenue Service
• DEPARTMENT OF THE TREASURY

[Federal Register Volume 76, Number 227 (Friday, November 25, 2011)]
[Notices]
[Page 72767]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-30419]


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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 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 real estate mortgage conduits; 
reporting requirements and other administrative matters; and allocation 
of allocable investment expense; original issue discount reporting 
requirements.

DATES: Written comments should be received on or before January 24, 
2012 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, 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: T.D. 8366, Real Estate Mortgage Investment Conduits; 
Reporting Requirements and Other Administrative Matters. T.D. 8431, 
Allocation of Allocable Investment Expense; Original Issue Discount 
Reporting Requirements.
    OMB Number: 1545-1018.
    Regulation Project Number: T.D. 8366 and T.D. 8431
    Abstract: T.D. 8366 contains temporary and final regulations 
relating to real estate mortgage investment conduits (REMICS). T.D. 
8431 contains final regulations relating to reporting requirements with 
respect to single-class real estate mortgage investment conduits 
(REMICs) and the market discount fraction reported with other REMIC 
information. This document also contains final regulations that require 
an issuer of publicly offered debt instruments with original issue 
discount (OID) to file an information return with the Internal Revenue 
Service. The relevant provisions in the Internal Revenue Code were 
added or amended by the Tax Reform Act of 1984, the Tax Reform Act of 
1986, and by the Technical and Miscellaneous Revenue Act of 1988.
    Current Actions: There is no change to these existing regulations.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Responses: 9,725.
    Estimated Total Annual Burden Hours: 978.
    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: November 10, 2011.
Yvette B. Lawrence,
IRS Reports Clearance Officer.
[FR Doc. 2011-30419 Filed 11-23-11; 8:45 am]
BILLING CODE 4830-01-P