Proposed Collection; Comment Request for Regulation Project, 23975 [2013-09462]

Download as PDF Federal Register / Vol. 78, No. 78 / Tuesday, April 23, 2013 / Notices Estimated Average Time per Respondent: 1 hour. Estimated Total Annual Burden Hours: 1,000 hrs. 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: April 11, 2013. Yvette Lawrence, IRS Reports Clearance Officer. [FR Doc. 2013–09449 Filed 4–22–13; 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. mstockstill on DSK4VPTVN1PROD with NOTICES 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 SUMMARY: VerDate Mar<15>2010 17:51 Apr 22, 2013 Jkt 229001 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 definition of a controlled foreign corporation, foreign base company income and foreign personal holding company income of a controlled foreign corporation. DATES: Written comments should be received on or before June 24, 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, (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: Definition of a Controlled Foreign Corporation, Foreign Base Company Income and Foreign Personal Holding Company Income of a Controlled Foreign Corporation. OMB Number: 1545–1068. Regulation Project Number: INTL– 362–88. Abstract: A U.S. shareholder of a controlled foreign corporation is subject to current U.S. taxation on the subpart F income of the foreign corporation, which consists of several categories of income. The election and recordkeeping requirements in the regulation are necessary to exclude certain high-taxed or active business income from subpart F income or to include certain income in the appropriate category of subpart F income. The record-keeping and election procedures allow the U.S. shareholders and the IRS to know the amount of the controlled foreign corporation’s subpart F income. Current Actions: There is no change to this existing regulation. Type of Review: Extension of OMB approval. Affected Public: Business or other forprofit organizations. Estimated Number of Respondents/ Recordkeepers: 50,500. Estimated Time per Respondent/ Recordkeeper: 1 hour. Estimated Total Annual Reporting/ Recordkeeping Hours: 50,417. The following paragraph applies to all of the collections of 1information covered by this notice: An agency may not conduct or sponsor, and a person is not required to PO 00000 Frm 00093 Fmt 4703 Sfmt 4703 23975 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 27, 2013. Yvette Lawrence, IRS Reports Clearance Officer. [FR Doc. 2013–09462 Filed 4–22–13; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Form 4466 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 4466, Corporation Application for Quick Refund of Overpayment of Estimated Tax. SUMMARY: E:\FR\FM\23APN1.SGM 23APN1

Agencies

[Federal Register Volume 78, Number 78 (Tuesday, April 23, 2013)]
[Notices]
[Page 23975]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-09462]


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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)). Currently, the IRS is soliciting comments concerning 
definition of a controlled foreign corporation, foreign base company 
income and foreign personal holding company income of a controlled 
foreign corporation.

DATES: Written comments should be received on or before June 24, 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, (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: Definition of a Controlled Foreign Corporation, Foreign Base 
Company Income and Foreign Personal Holding Company Income of a 
Controlled Foreign Corporation.
    OMB Number: 1545-1068.
    Regulation Project Number: INTL-362-88.
    Abstract: A U.S. shareholder of a controlled foreign corporation is 
subject to current U.S. taxation on the subpart F income of the foreign 
corporation, which consists of several categories of income. The 
election and recordkeeping requirements in the regulation are necessary 
to exclude certain high-taxed or active business income from subpart F 
income or to include certain income in the appropriate category of 
subpart F income. The record-keeping and election procedures allow the 
U.S. shareholders and the IRS to know the amount of the controlled 
foreign corporation's subpart F income.
    Current Actions: There is no change to this existing regulation.
    Type of Review: Extension of OMB approval.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents/Recordkeepers: 50,500.
    Estimated Time per Respondent/Recordkeeper: 1 hour.
    Estimated Total Annual Reporting/Recordkeeping Hours: 50,417.
    The following paragraph applies to all of the collections of 
1information 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 27, 2013.
Yvette Lawrence,
IRS Reports Clearance Officer.
[FR Doc. 2013-09462 Filed 4-22-13; 8:45 am]
BILLING CODE 4830-01-P