Submission for OMB Review; Comment Request, 51108-51109 [2012-20722]

Download as PDF 51108 Federal Register / Vol. 77, No. 164 / Thursday, August 23, 2012 / Notices were successful and an agreement was reached between LSI and the Michigan Department of Natural Resources (MDNR). MRI now seeks to reinstitute rail service over Segment 2 as a successor in interest to LSI, an action with which LSI expressly concurs. The remaining portion of the railbanked right-of-way subject to the NITU south of Humboldt (milepost 87.56) would continue to be railbanked and used by MDNR as a recreational trail and is not at issue here.1 MRI certifies that its projected annual revenues as a result of this transaction will not exceed those that would qualify it as a Class III rail carrier, and that the projected annual revenues of MRI to be created by the subject transaction do not exceed $5 million. The transaction is scheduled to be consummated on or after September 6, 2012 (30 days after the exemption is filed). If the notice contains false or misleading information, the exemption is void ab initio. Petitions to revoke the exemption under 49 U.S.C. 10502(d) may be filed at any time. The filing of a petition to revoke does not automatically stay the transaction. Petitions to stay must be filed no later than August 30, 2012 (at least seven days before the exemption becomes effective). An original and 10 copies of all pleadings, referring to Docket No. FD 35658 must be filed with the Surface Transportation Board, 395 E Street SW., Washington, DC 20423–0001. In addition, a copy of each pleasing must be served on Thomas F. McFarland, 208 South LaSalle Street, Suite 1890, Chicago, IL 60604–1112. Board decisions and notices are available on our Web site at www.stb.dot.gov. Decided: August 20, 2012. By the Board, Rachel D. Campbell, Director, Office of Proceedings. Raina S. White, Clearance Clerk. [FR Doc. 2012–20754 Filed 8–22–12; 8:45 am] tkelley on DSK3SPTVN1PROD with NOTICES BILLING CODE 4915–01–P 1 MRI simultaneously filed a petition for partial vacation of the NITU issued in Lake Superior & Ishpeming Railroad—Abandonment Exemption—in Marquette County, Mich., AB 68 (Sub-No. 4X) (STB served Jan. 19, 2005). The petition will be addressed in a separate decision. VerDate Mar<15>2010 16:59 Aug 22, 2012 Jkt 226001 August 20, 2012. The Department of the Treasury will submit the following information collection request to the Office of Management and Budget (OMB) for review and clearance in accordance with the Paperwork Reduction Act of 1995, Public Law 104–13, on or after the date of publication of this notice. DATES: Comments should be received on or before September 24, 2012 to be assured of consideration. ADDRESSES: Send comments regarding the burden estimate, or any other aspect of the information collection, including suggestion for reducing the burden, to (1) Office of Information and Regulatory Affairs, Office of Management and Budget, Attention: Desk Officer for Treasury, New Executive Office Building, Room 10235, Washington, DC 20503, or email at OIRA_Submission@OMB.EOP.GOV and (2) Treasury PRA Clearance Officer, 1750 Pennsylvania Ave. NW., Suite 8140, Washington, DC 20220, or email at PRA@treasury.gov. FOR FURTHER INFORMATION CONTACT: Copies of the submission(s) may be obtained by calling (202) 927–5331, email at PRA@treasury.gov, or the entire information collection request maybe found at www.reginfo.gov. month extension of time to file their income tax returns. The information is needed by IRS to determine whether Form 7004 was timely filed so as not to impose a late filing penalty in error and also to insure that the proper amount of tax was computed and deposited. Affected Public: Private Sector: Business or other for-profits. Estimated Total Burden Hours: 19,216,744. OMB Number: 1545–0805. Type of Review: Extension without change of a currently approved collection. Title: Information return on a 25% Foreign Owned U.S. Corporation or a Foreign Corporation Engaged in a U.S. Trade or Business. Form: 5472. Abstract: Form 5472 is used to report information about transactions between a U.S. corporation that is 25% foreign owned or a foreign corporation that is engaged in a U.S. trade or business and related foreign parties. The IRS uses Form 5472 to determine if inventory or other costs deducted by the U.S. or foreign corporation are correct. Affected Public: Private Sector: Business or other for-profits. Estimated Total Burden Hours: 2,544,784. DEPARTMENT OF THE TREASURY Submission for OMB Review; Comment Request Internal Revenue Service (IRS) OMB Number: 1545–0022. Type of Review: Extension without change of a currently approved collection. Title: Life Insurance Statement. Form: 712. Abstract: Form 712 is used to establish the value of life insurance policies for estate and gift tax purposes. The tax is based on the value of these policies. The form is completed by life insurance companies. Affected Public: Private Sector: Business or other for-profits. Estimated Total Burden Hours: 1,120,200. OMB Number: 1545–0233. Type of Review: Extension without change of a currently approved collection. Title: Application for Automatic Extension of Time to File Certain Business Income Tax, Information, and Other Returns. Form: 7004. Abstract: Form 7004 is used by corporations and certain non-profit institutions to request an automatic 6- PO 00000 Frm 00130 Fmt 4703 Sfmt 4703 OMB Number: 1545–1099. Type of Review: Extension without change of a currently approved collection. Title: Information Return for Real Estate Mortgage Investment Conduits (REMICs) and Issuers of Collateralized Debt Obligations. Form: 8811. Abstract: Form 8811 is used to collect name, address, and phone number of a representative of a REMIC who can provide brokers with the correct income amounts that the broker’s clients must report on their income tax returns. The form allows the IRS to provide the REMIC industry the information necessary to issue correct information returns to investors. Affected Public: Private Sector: Business or other for-profits. Estimated Total Burden Hours: 4,380. OMB Number: 1545–1120. Type of Review: Extension without change of a currently approved collection. Title: TD 8352 (temp & final) Final Regulations Under Sections 382 and 383 of the Internal Revenue Code of 1986; Pre-change Attributes; TD 8531—Final Regulations Under Section 382. Abstract: These regulations (CO–69– 87 and CO–68–87) require reporting by a corporation after it undergoes an ‘‘ownership change’’ under sections 382 E:\FR\FM\23AUN1.SGM 23AUN1 Federal Register / Vol. 77, No. 164 / Thursday, August 23, 2012 / Notices tkelley on DSK3SPTVN1PROD with NOTICES and 383. Corporations required to report under these regulations include those with capital loss carryovers and excess credits. These regulations (CO–18–90) provide rules for the treatment of options under IRC section 382 for purposes of determining whether a corporation undergoes an ownership change. The regulation allows for certain elections for corporations whose stock is subject to options. Affected Public: Private Sector: Business or other for-profits. Estimated Total Burden Hours: 220,575. OMB Number: 1545–1254. Type of Review: Extension without change of a currently approved collection. Title: TD 8396—Conclusive Presumption of Worthlessness of Debts Held by Banks (FI–34–91). Abstract: Paragraph (d)(3) of section 1.166–2 of the regulations allows banks and thrifts to elect to conform their tax accounting for bad debts with their regulatory accounting. An election, or revocation thereof, is a change in method of accounting. The collection of information required in section 1.166– 2(d)(3) is necessary to monitor the elections. Affected Public: Private Sector: Business or other for-profits. Estimated Total Burden Hours: 50. OMB Number: 1545–1412. Type of Review: Extension without change of a currently approved collection. Title: FI–54–93 (Final) Clear Reflection of Income in the Case of Hedging Transactions Abstract: This information is required by the Internal Revenue Service to verify compliance with section 416 of the Internal Revenue Code. This information will be used to determine that the amount of tax has been computed correctly. Affected Public: Private Sector: Business or other for-profits. Estimated Total Burden Hours: 22,000. OMB Number: 1545–1431. Type of Review: Extension without change of a currently approved collection. Title: Substantiation Requirement for Certain Contributions IA–74–93 (Final) Abstract: These regulations provide that, for purposes of substantiation for certain charitable contributions, consideration does not include de minimis goods or services. It also provides guidance on how taxpayers may satisfy the substantiation requirement for contributions of $250 or more. VerDate Mar<15>2010 16:59 Aug 22, 2012 Jkt 226001 Affected Public: Private Sector: Business or other for-profits. Estimated Total Burden Hours: 51,500. OMB Number: 1545–1503. Type of Review: Extension without change of a currently approved collection. Title: Revenue Procedure 2006–9 (formerly Rev. Proc. 96–53), Section 482—Allocations Between Related Parties. Abstract: The information requested is required to enable the Internal Revenue Service to give advice on filing Advance Pricing Agreement applications, to process such applications and negotiate agreements, and to verify compliance with agreements and whether agreements require modification. Affected Public: Private Sector: Business or other for-profits. Estimated Total Burden Hours: 8,200. OMB Number: 1545–1530. Type of Review: Extension without change of a currently approved collection. Title: Rev. Proc. 2007–32—Tip Rate Determination Agreement (Gaming Industry); Gaming Industry Tip Compliance Agreement Program. Abstract: Tip Rate Determination Agreement (Gaming Industry) Information is required by the Internal Revenue Service in its Compliance efforts to assist employers and their employees in understanding and complying with section 6053(a), which requires employees to report all their tips monthly to their employers. Gaming Industry Tip Compliance Agreement Program Taxpayers who operate gaming establishments may enter into an agreement with the Internal Revenue Service to establish tip rates and occupational categories for all tipped employees of the taxpayer. The agreements will require substantiation of the tip rates as well. Affected Public: Private Sector: Business or other for-profits. Estimated Total Burden Hours: 10,467. OMB Number: 1545–1806. Type of Review: Revision of currently approved collection. Title: Asset Allocation Statement Under 338. Form: 8883. Abstract: Form 8883 is used to report information regarding transactions involving the deemed sale of corporate assets under section 338. Affected Public: Private Sector: Business or other for-profits. Estimated Total Burden Hours: 5,755. OMB Number: 1545–1820. PO 00000 Frm 00131 Fmt 4703 Sfmt 4703 51109 Type of Review: Extension without change of a currently approved collection. Title: Rev. Proc. 2003–33—Section 9100 Relief for 338 Elections. Abstract: Pursuant to Sec. 301.9100– 3 of the Procedure and Administration Regulations, this procedure grants certain taxpayers an extension of time to file an election described in Sec. 338(a) or Sec. 338(h)(10) of the Internal Revenue Code to treat the purchase of the stock of a corporation as an asset acquisition. Affected Public: Private Sector: Business or other for-profits. Estimated Total Burden Hours: 300. OMB Number: 1545–1932. Type of Review: Revision of currently approved collection. Title: TD 9392—Information Return by Donees Relating to Qualified Intellectual Property Contributions (REG–158138–04). Abstract: These regulations provide guidance for filing information returns by donees relating to qualified intellectual property contributions. The regulations affect donees receiving qualified intellectual property contributions after June 3, 2004. Affected Public: Private Sector: Notfor-profit institutions. Estimated Total Burden Hours: 200. Dawn D. Wolfgang, Treasury PRA Clearance Officer. [FR Doc. 2012–20722 Filed 8–22–12; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Submission for OMB Review; Comment Request August 20, 2012. The Department of the Treasury will submit the following information collection request to the Office of Management and Budget (OMB) for review and clearance in accordance with the Paperwork Reduction Act of 1995, Public Law 104–13, on or after the date of publication of this notice. DATES: Comments should be received on or before September 24, 2012 to be assured of consideration. ADDRESSES: Send comments regarding the burden estimate, or any other aspect of the information collection, including suggestion for reducing the burden, to the (1) Office of Information and Regulatory Affairs, Office of Management and Budget, Attention: Desk Officer for Treasury, New Executive Office Building, Room 10235, Washington, DC 20503, or email at OIRA_Submission@OMB.EOP.GOV and E:\FR\FM\23AUN1.SGM 23AUN1

Agencies

[Federal Register Volume 77, Number 164 (Thursday, August 23, 2012)]
[Notices]
[Pages 51108-51109]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-20722]


=======================================================================
-----------------------------------------------------------------------

DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

August 20, 2012.
    The Department of the Treasury will submit the following 
information collection request to the Office of Management and Budget 
(OMB) for review and clearance in accordance with the Paperwork 
Reduction Act of 1995, Public Law 104-13, on or after the date of 
publication of this notice.

DATES: Comments should be received on or before September 24, 2012 to 
be assured of consideration.

ADDRESSES: Send comments regarding the burden estimate, or any other 
aspect of the information collection, including suggestion for reducing 
the burden, to (1) Office of Information and Regulatory Affairs, Office 
of Management and Budget, Attention: Desk Officer for Treasury, New 
Executive Office Building, Room 10235, Washington, DC 20503, or email 
at OIRA_Submission@OMB.EOP.GOV and (2) Treasury PRA Clearance Officer, 
1750 Pennsylvania Ave. NW., Suite 8140, Washington, DC 20220, or email 
at PRA@treasury.gov.

FOR FURTHER INFORMATION CONTACT: Copies of the submission(s) may be 
obtained by calling (202) 927-5331, email at PRA@treasury.gov, or the 
entire information collection request maybe found at www.reginfo.gov.

Internal Revenue Service (IRS)

    OMB Number: 1545-0022.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Life Insurance Statement.
    Form: 712.
    Abstract: Form 712 is used to establish the value of life insurance 
policies for estate and gift tax purposes. The tax is based on the 
value of these policies. The form is completed by life insurance 
companies.
    Affected Public: Private Sector: Business or other for-profits.
    Estimated Total Burden Hours: 1,120,200.

    OMB Number: 1545-0233.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Application for Automatic Extension of Time to File Certain 
Business Income Tax, Information, and Other Returns.
    Form: 7004.
    Abstract: Form 7004 is used by corporations and certain non-profit 
institutions to request an automatic 6-month extension of time to file 
their income tax returns. The information is needed by IRS to determine 
whether Form 7004 was timely filed so as not to impose a late filing 
penalty in error and also to insure that the proper amount of tax was 
computed and deposited.
    Affected Public: Private Sector: Business or other for-profits.
    Estimated Total Burden Hours: 19,216,744.

    OMB Number: 1545-0805.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Information return on a 25% Foreign Owned U.S. Corporation 
or a Foreign Corporation Engaged in a U.S. Trade or Business.
    Form: 5472.
    Abstract: Form 5472 is used to report information about 
transactions between a U.S. corporation that is 25% foreign owned or a 
foreign corporation that is engaged in a U.S. trade or business and 
related foreign parties. The IRS uses Form 5472 to determine if 
inventory or other costs deducted by the U.S. or foreign corporation 
are correct.
    Affected Public: Private Sector: Business or other for-profits.
    Estimated Total Burden Hours: 2,544,784.

    OMB Number: 1545-1099.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Information Return for Real Estate Mortgage Investment 
Conduits (REMICs) and Issuers of Collateralized Debt Obligations.
    Form: 8811.
    Abstract: Form 8811 is used to collect name, address, and phone 
number of a representative of a REMIC who can provide brokers with the 
correct income amounts that the broker's clients must report on their 
income tax returns. The form allows the IRS to provide the REMIC 
industry the information necessary to issue correct information returns 
to investors.
    Affected Public: Private Sector: Business or other for-profits.
    Estimated Total Burden Hours: 4,380.

    OMB Number: 1545-1120.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: TD 8352 (temp & final) Final Regulations Under Sections 382 
and 383 of the Internal Revenue Code of 1986; Pre-change Attributes; TD 
8531--Final Regulations Under Section 382.
    Abstract: These regulations (CO-69-87 and CO-68-87) require 
reporting by a corporation after it undergoes an ``ownership change'' 
under sections 382

[[Page 51109]]

and 383. Corporations required to report under these regulations 
include those with capital loss carryovers and excess credits. These 
regulations (CO-18-90) provide rules for the treatment of options under 
IRC section 382 for purposes of determining whether a corporation 
undergoes an ownership change. The regulation allows for certain 
elections for corporations whose stock is subject to options.
    Affected Public: Private Sector: Business or other for-profits.
    Estimated Total Burden Hours: 220,575.

    OMB Number: 1545-1254.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: TD 8396--Conclusive Presumption of Worthlessness of Debts 
Held by Banks (FI-34-91).
    Abstract: Paragraph (d)(3) of section 1.166-2 of the regulations 
allows banks and thrifts to elect to conform their tax accounting for 
bad debts with their regulatory accounting. An election, or revocation 
thereof, is a change in method of accounting. The collection of 
information required in section 1.166-2(d)(3) is necessary to monitor 
the elections.
    Affected Public: Private Sector: Business or other for-profits.
    Estimated Total Burden Hours: 50.

    OMB Number: 1545-1412.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: FI-54-93 (Final) Clear Reflection of Income in the Case of 
Hedging Transactions
    Abstract: This information is required by the Internal Revenue 
Service to verify compliance with section 416 of the Internal Revenue 
Code. This information will be used to determine that the amount of tax 
has been computed correctly.
    Affected Public: Private Sector: Business or other for-profits.
    Estimated Total Burden Hours: 22,000.

    OMB Number: 1545-1431.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Substantiation Requirement for Certain Contributions IA-74-
93 (Final)
    Abstract: These regulations provide that, for purposes of 
substantiation for certain charitable contributions, consideration does 
not include de minimis goods or services. It also provides guidance on 
how taxpayers may satisfy the substantiation requirement for 
contributions of $250 or more.
    Affected Public: Private Sector: Business or other for-profits.
    Estimated Total Burden Hours: 51,500.

    OMB Number: 1545-1503.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Revenue Procedure 2006-9 (formerly Rev. Proc. 96-53), 
Section 482--Allocations Between Related Parties.
    Abstract: The information requested is required to enable the 
Internal Revenue Service to give advice on filing Advance Pricing 
Agreement applications, to process such applications and negotiate 
agreements, and to verify compliance with agreements and whether 
agreements require modification.
    Affected Public: Private Sector: Business or other for-profits.
    Estimated Total Burden Hours: 8,200.

    OMB Number: 1545-1530.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Rev. Proc. 2007-32--Tip Rate Determination Agreement (Gaming 
Industry); Gaming Industry Tip Compliance Agreement Program.
    Abstract: Tip Rate Determination Agreement (Gaming Industry) 
Information is required by the Internal Revenue Service in its 
Compliance efforts to assist employers and their employees in 
understanding and complying with section 6053(a), which requires 
employees to report all their tips monthly to their employers. Gaming 
Industry Tip Compliance Agreement Program Taxpayers who operate gaming 
establishments may enter into an agreement with the Internal Revenue 
Service to establish tip rates and occupational categories for all 
tipped employees of the taxpayer. The agreements will require 
substantiation of the tip rates as well.
    Affected Public: Private Sector: Business or other for-profits.
    Estimated Total Burden Hours: 10,467.

    OMB Number: 1545-1806.
    Type of Review: Revision of currently approved collection.
    Title: Asset Allocation Statement Under 338.
    Form: 8883.
    Abstract: Form 8883 is used to report information regarding 
transactions involving the deemed sale of corporate assets under 
section 338.
    Affected Public: Private Sector: Business or other for-profits.
    Estimated Total Burden Hours: 5,755.

    OMB Number: 1545-1820.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Rev. Proc. 2003-33--Section 9100 Relief for 338 Elections.
    Abstract: Pursuant to Sec. 301.9100-3 of the Procedure and 
Administration Regulations, this procedure grants certain taxpayers an 
extension of time to file an election described in Sec. 338(a) or Sec. 
338(h)(10) of the Internal Revenue Code to treat the purchase of the 
stock of a corporation as an asset acquisition.
    Affected Public: Private Sector: Business or other for-profits.
    Estimated Total Burden Hours: 300.

    OMB Number: 1545-1932.
    Type of Review: Revision of currently approved collection.
    Title: TD 9392--Information Return by Donees Relating to Qualified 
Intellectual Property Contributions (REG-158138-04).
    Abstract: These regulations provide guidance for filing information 
returns by donees relating to qualified intellectual property 
contributions. The regulations affect donees receiving qualified 
intellectual property contributions after June 3, 2004.
    Affected Public: Private Sector: Not-for-profit institutions.
    Estimated Total Burden Hours: 200.

Dawn D. Wolfgang,
Treasury PRA Clearance Officer.
[FR Doc. 2012-20722 Filed 8-22-12; 8:45 am]
BILLING CODE 4830-01-P
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