Proposed Collection; Comment Request for Regulation Project, 43534 [2014-17596]
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emcdonald on DSK67QTVN1PROD with NOTICES
43534
Federal Register / Vol. 79, No. 143 / Friday, July 25, 2014 / Notices
returns that apply to other tax-exempt
organizations. These final regulations
provide guidance for private
foundations required to make copies of
applications for recognition of
exemption and annual information
return available for public inspection
and to comply with requests for copies
of those documents.
Current Actions: There is no change to
this existing regulation.
Type of Review: Extension of a
currently approved collection.
Affected Public: Not-for-profit
institutions.
Estimated Number of Respondents:
65,065.
Estimated Time per Respondent: 30
minutes.
Estimated Total Annual Burden
Hours: 32,596.
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.
VerDate Mar<15>2010
18:34 Jul 24, 2014
Jkt 232001
Approved: July 14, 2014.
R. Joseph Durbala,
IRS Reports Clearance Officer.
[FR Doc. 2014–17593 Filed 7–24–14; 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 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
limitations on passive activity losses
and credits-treatment of self-charged
items of income and expense.
DATES: Written comments should be
received on or before September 23,
2014 to be assured of consideration.
ADDRESSES: Direct all written comments
to, R. Joseph Durbala, Internal Revenue
Service, Room 6129, 1111 Constitution
Avenue NW., Washington, DC 20224.
FOR FURTHER INFORMATION CONTACT:
Requests for copies of the regulations
should be directed to Sara Covington at
Internal Revenue Service, Room 6129,
1111 Constitution Avenue NW.,
Washington, DC 20224, or through the
Internet at Sara.L.Covington@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Limitation on Passive Activity
Losses and Credits-Treatment of SelfCharged Items of Income and Expense.
OMB Number: 1545–1244.
Regulation Project Number: (T.D.
9013).
Abstract: Section 1.469–7(f)(1) of this
regulation permits entities to elect to
avoid application of the regulation in
the event the pass-through entity
chooses to not have the income from
leading transactions with owners of
interests in the entity re-characterized as
SUMMARY:
PO 00000
Frm 00147
Fmt 4703
Sfmt 9990
passive activity gross income. The IRS
will use this information to determine
whether the entity has made a proper
timely election and to determine that
taxpayers are complying with the
election in the taxable year of the
election and subsequent taxable years.
Current Actions: There is no change to
this existing regulation.
Type of Review: Extension of
currently approved collection.
Affected Public: Individuals and
business or other for-profit
organizations.
Estimated Number of Respondents:
1,000.
Estimated Total Annual Burden
Hours: 150.
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 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: July 14, 2014.
R. Joseph Durbala,
IRS Reports Clearance Officer.
[FR Doc. 2014–17596 Filed 7–24–14; 8:45 am]
BILLING CODE 4830–01–P
E:\FR\FM\25JYN1.SGM
25JYN1
]]>Agencies
[Federal Register Volume 79, Number 143 (Friday, July 25, 2014)]
[Notices]
[Page 43534]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-17596]
-----------------------------------------------------------------------
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 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 limitations on passive activity losses and
credits-treatment of self-charged items of income and expense.
DATES: Written comments should be received on or before September 23,
2014 to be assured of consideration.
ADDRESSES: Direct all written comments to, R. Joseph Durbala, Internal
Revenue Service, Room 6129, 1111 Constitution Avenue NW., Washington,
DC 20224.
FOR FURTHER INFORMATION CONTACT: Requests for copies of the regulations
should be directed to Sara Covington at Internal Revenue Service, Room
6129, 1111 Constitution Avenue NW., Washington, DC 20224, or through
the Internet at Sara.L.Covington@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Limitation on Passive Activity Losses and Credits-Treatment
of Self-Charged Items of Income and Expense.
OMB Number: 1545-1244.
Regulation Project Number: (T.D. 9013).
Abstract: Section 1.469-7(f)(1) of this regulation permits entities
to elect to avoid application of the regulation in the event the pass-
through entity chooses to not have the income from leading transactions
with owners of interests in the entity re-characterized as passive
activity gross income. The IRS will use this information to determine
whether the entity has made a proper timely election and to determine
that taxpayers are complying with the election in the taxable year of
the election and subsequent taxable years.
Current Actions: There is no change to this existing regulation.
Type of Review: Extension of currently approved collection.
Affected Public: Individuals and business or other for-profit
organizations.
Estimated Number of Respondents: 1,000.
Estimated Total Annual Burden Hours: 150.
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
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: July 14, 2014.
R. Joseph Durbala,
IRS Reports Clearance Officer.
[FR Doc. 2014-17596 Filed 7-24-14; 8:45 am]
BILLING CODE 4830-01-P
