Proposed Collection; Comment Request for Regulation Project, 16916 [2013-06228]

Download as PDF 16916 Federal Register / Vol. 78, No. 53 / Tuesday, March 19, 2013 / Notices 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 allocation and apportionment of deduction for state income. DATES: Written comments should be received on or before May 20, 2013 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 regulations should be directed to Allan Hopkins at Internal Revenue Service, room 6129, 1111 Constitution Avenue NW., Washington, DC 20224, or at (202) 622–6665, or through the Internet at Allan.M.Hopkins@irs.gov. SUMMARY: tkelley on DSK3SPTVN1PROD with NOTICES SUPPLEMENTARY INFORMATION: Title: Allocation and Apportionment of Deduction for State Income Taxes. OMB Number: 1545–1224. Regulation Project Number: INTL– 112–88. Abstract: This regulation provides guidance on when and how the deduction for state income taxes is to be allocated and apportioned between gross income from sources within and without the United States in order to determine the amount of taxable income from those sources. The reporting requirements in the regulation affect those taxpayers claiming foreign tax credits who elect to use an alternative method from that described in the regulation to allocate and apportion deductions for state income taxes. Current Actions: There is no change to this existing regulation. Type of Review: Extension of a currently approved collection. Affected Public: Business or other forprofit organizations. VerDate Mar<15>2010 17:00 Mar 18, 2013 Jkt 229001 Estimated Number of Respondents: 1,000. Estimated Time per Respondent: 1 hour. Estimated Total Annual Burden Hours: 1,000. The following paragraph applies to all 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: March 8, 2013. Yvette Lawrence, IRS Reports Clearance Officer. [FR Doc. 2013–06228 Filed 3–18–13; 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 00087 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)). Currently, the IRS is soliciting comments concerning general rules for making and maintaining qualified electing fund elections. DATES: Written comments should be received on or before May 20, 2013 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, (202) 622– 6665, or at Internal Revenue Service, Room 6129, 1111 Constitution Avenue NW., Washington, DC 20224, or through the internet at Allan.M.Hopkins@irs.gov. SUPPLEMENTARY INFORMATION: Title: General Rules for Making and Maintaining Qualified Electing Fund Elections. OMB Number: 1545–1555. Regulation Project Number: REG– 115795–97. Abstract: This regulation provides guidance to a passive foreign investment company (PFIC) shareholder that makes the election under Code section 1295 to treat the PFIC as a qualified electing fund (QEF), and for PFIC shareholders that wish to make a section 1295 election that will apply on a retroactive basis. Guidance is also provided on revoking such elections. Current Actions: There is no change to this existing regulation. Type of Review: Extension of a currently approved collection. Affected Public: Individuals or households, business or other for-profit organization, and not-for-profit institutions. Estimated Number of Respondents: 1,290. Estimated Time per Respondent: 29 minutes. Estimated Total Annual Burden Hours: 623. 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, E:\FR\FM\19MRN1.SGM 19MRN1

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[Federal Register Volume 78, Number 53 (Tuesday, March 19, 2013)]
[Notices]
[Page 16916]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-06228]



[[Page 16916]]

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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 
allocation and apportionment of deduction for state income.

DATES: Written comments should be received on or before May 20, 2013 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 regulations should be directed to Allan Hopkins at 
Internal Revenue Service, room 6129, 1111 Constitution Avenue NW., 
Washington, DC 20224, or at (202) 622-6665, or through the Internet at 
Allan.M.Hopkins@irs.gov.

SUPPLEMENTARY INFORMATION:
    Title: Allocation and Apportionment of Deduction for State Income 
Taxes.
    OMB Number: 1545-1224.
    Regulation Project Number: INTL-112-88.
    Abstract: This regulation provides guidance on when and how the 
deduction for state income taxes is to be allocated and apportioned 
between gross income from sources within and without the United States 
in order to determine the amount of taxable income from those sources. 
The reporting requirements in the regulation affect those taxpayers 
claiming foreign tax credits who elect to use an alternative method 
from that described in the regulation to allocate and apportion 
deductions for state income taxes.
    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: 1,000.
    Estimated Time per Respondent: 1 hour.
    Estimated Total Annual Burden Hours: 1,000.
    The following paragraph applies to all 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: March 8, 2013.
Yvette Lawrence,
IRS Reports Clearance Officer.
[FR Doc. 2013-06228 Filed 3-18-13; 8:45 am]
BILLING CODE 4830-01-P