Proposed Collection; Comment Request for Revenue Procedures 2003-79, 2007-64, and 2006-46, 54350-54351 [2014-21602]

Download as PDF mstockstill on DSK4VPTVN1PROD with NOTICES 54350 Federal Register / Vol. 79, No. 176 / Thursday, September 11, 2014 / Notices an extension of time to make certain elections, including changes in accounting method and accounting period. In addition, the regulation provides the standards that the IRS will use in determining whether to grant taxpayers extensions of time to make these elections. Current Actions: There is no change to this existing regulation. Type of Review: Extension of currently approved collection. Affected Public: Business or other forprofit organizations, individuals, notfor-profit institutions, and farms. Estimated Number of Respondents: 500. Estimated Time per Respondent: 10 hours. Estimated Total Annual Burden Hours: 5,000. 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: September 3, 2014. R. Joseph Durbala, IRS Reports Clearance Officer. [FR Doc. 2014–21595 Filed 9–10–14; 8:45 am] BILLING CODE 4830–01–P VerDate Mar<15>2010 18:29 Sep 10, 2014 Jkt 232001 DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Forms 8329 and 8330 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 8329, Lender’s Information Return for Mortgage Credit Certificates (MCCs) and Form 8330, Issuer’s Quarterly Information Return for Mortgage Credit Certificates (MCCs). DATES: Written comments should be received on or before November 10, 2014 to be assured of consideration. ADDRESSES: Direct all written comments to Christie Preston, Internal Revenue Service, Room 6129, 1111 Constitution Avenue NW., Washington, DC 20224. FOR FURTHER INFORMATION CONTACT: Requests for additional information or copies of the form(s) and instructions should be directed to Allan Hopkins, 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: Form 8329, Lender’s Information Return for Mortgage Credit Certificates (MCCs) and Form 8330, Issuer’s Quarterly Information Return for Mortgage Credit Certificates (MCCs). OMB Number: 1545–0922. Form Number: Forms 8329 and 8330. Abstract: Form 8329 is used by lending institutions and Form 8330 is used by state and local governments to provide the IRS with information on the issuance of mortgage credit certificates (MCCs) authorized under Internal Revenue Code section 25. IRS matches the information supplied by lenders and issuers to ensure that the credit is computed properly. Current Actions: There are no changes being made to these forms at this time. Type of Review: Extension of a currently approved collection. Affected Public: Business or other forprofit organizations, and state, local or tribal governments. SUMMARY: PO 00000 Frm 00089 Fmt 4703 Sfmt 4703 Estimated Number of Responses: 10,000—Form 8329; 2,000—Form 8330. Estimated Time per Response: 5 hours, 53 minutes—Form 8329; 7 hours, 28 minutes—Form 8330. Estimated Total Annual Burden Hours: 58,800—Form 8329; 14,920— Form 8330. 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 informationdisplays 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: August 27, 2014. Christie Preston, IRS Reports Clearance Officer. [FR Doc. 2014–21599 Filed 9–10–14; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request for Revenue Procedures 2003–79, 2007–64, and 2006–46 Internal Revenue Service (IRS), Treasury. ACTION: Notice and request for comments. AGENCY: E:\FR\FM\11SEN1.SGM 11SEN1 Federal Register / Vol. 79, No. 176 / Thursday, September 11, 2014 / Notices 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 Revenue Procedures 2003–79, 2007–64, 2006–46, Changes in Periods of Accounting. DATES: Written comments should be received on or before November 10, 2014 to be assured of consideration. ADDRESSES: Direct all written comments to Christie Preston, Internal Revenue Service, Room 6129, 1111 Constitution Avenue NW., Washington, DC 20224. FOR FURTHER INFORMATION CONTACT: Requests for additional information or copies of revenue procedures should be directed to R. Joseph Durbala, (202) 622–3634, Internal Revenue Service, Room 6129, 1111 Constitution Avenue NW., Washington, DC 20224, or through the internet at RJoseph.Durbala@irs.gov. SUPPLEMENTARY INFORMATION: Title: Changes in Periods of Accounting. OMB Number: 1545–1786. Revenue Procedure Numbers: Revenue Procedures 2003–79, 2007–64, and 2006–46. Abstract: Revenue Procedures 2003– 79, 2007–64, and 2006–46, provide the comprehensive administrative rules and guidance, for affected taxpayers adopting, changing, or retaining annual accounting periods, for federal income tax purposes. In order to determine whether a taxpayer has properly adopted, changed to, or retained an annual accounting period, certain information regarding the taxpayer’s qualification for and use of the requested annual accounting period is required. The revenue procedures request the information necessary to make that determination when the information is not otherwise available. Current Actions: There are no changes being made to these revenue procedures at this time. Type of Review: Extension of a currently approved collection. Affected Public: Business or other forprofit organization, individuals, not-forprofit institutions and farms. Estimated Number of Respondents: 800. Estimated Average Time per Respondent: 53 minutes. Estimated Total Annual Burden Hours: 700. mstockstill on DSK4VPTVN1PROD with NOTICES SUMMARY: VerDate Mar<15>2010 18:29 Sep 10, 2014 Jkt 232001 Also, the burden is reflected in the burdens of Forms 1128 and 2553. 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: September 3, 2014. R. Joseph Durbala, IRS Reports Clearance Officer. [FR Doc. 2014–21602 Filed 9–10–14; 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 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, SUMMARY: PO 00000 Frm 00090 Fmt 4703 Sfmt 4703 54351 Public Law 104–13 (44 U.S.C. 3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning financial asset securitization investment trust; real estate mortgage investment conduits; real estate mortgage investment conduits. DATES: Written comments should be received on or before November 10, 2014 to be assured of consideration. ADDRESSES: Direct all written comments to Christie Preston, 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 through the Internet at Allan.M.Hopkins@irs.gov. SUPPLEMENTARY INFORMATION: Title: Financial Asset Securitization Investment Trusts; Real Estate Mortgage Investment Conduits. OMB Number: 1545–1675. Regulation Project Number: [REG– 100276–97; REG–122450–98]; TD 9004 (final). Abstract: REG–122450–98 Sections 1.860E–1(c)(4)–(10) of the Treasury Regulations provide circumstances under which a transferor of a noneconomic residual interest in a Real Estate Mortgage Investment Conduit (REMIC) meeting the investigation, and two representation requirements may avail itself of the safe harbor by satisfying either the formula test or asset test. This regulation provides start-up and transitional rules applicable to financial asset securitization investment trust. TD 9004 contains final regulations relating to safe harbor transfers of noneconomic residual interests in real estate mortgage investment conduits (REMICs). The final regulations provide additional limitations on the circumstances under which transferors may claim safe harbor treatment. Current Actions: There are no changes being made to this existing regulation. Type of Review: Extension of currently approved collection. Affected Public: Business or other forprofit. Estimated Number of Respondents and/or Record-Keeping: 620. Estimated Average Annual Burden Hours per Respondent and/or RecordKeeping: 1 hour 58 minutes. Estimated Total Annual Reporting and/or Record Keeping Burden: 1,220. 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 E:\FR\FM\11SEN1.SGM 11SEN1

Agencies

[Federal Register Volume 79, Number 176 (Thursday, September 11, 2014)]
[Notices]
[Pages 54350-54351]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-21602]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Revenue Procedures 2003-
79, 2007-64, and 2006-46

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

-----------------------------------------------------------------------

[[Page 54351]]

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 
Revenue Procedures 2003-79, 2007-64, 2006-46, Changes in Periods of 
Accounting.

DATES: Written comments should be received on or before November 10, 
2014 to be assured of consideration.

ADDRESSES: Direct all written comments to Christie Preston, Internal 
Revenue Service, Room 6129, 1111 Constitution Avenue NW., Washington, 
DC 20224.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of revenue procedures should be directed to R. Joseph Durbala, 
(202) 622-3634, Internal Revenue Service, Room 6129, 1111 Constitution 
Avenue NW., Washington, DC 20224, or through the internet at 
RJoseph.Durbala@irs.gov.

SUPPLEMENTARY INFORMATION:
    Title: Changes in Periods of Accounting.
    OMB Number: 1545-1786.
    Revenue Procedure Numbers: Revenue Procedures 2003-79, 2007-64, and 
2006-46.
    Abstract: Revenue Procedures 2003-79, 2007-64, and 2006-46, provide 
the comprehensive administrative rules and guidance, for affected 
taxpayers adopting, changing, or retaining annual accounting periods, 
for federal income tax purposes. In order to determine whether a 
taxpayer has properly adopted, changed to, or retained an annual 
accounting period, certain information regarding the taxpayer's 
qualification for and use of the requested annual accounting period is 
required. The revenue procedures request the information necessary to 
make that determination when the information is not otherwise 
available.
    Current Actions: There are no changes being made to these revenue 
procedures at this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organization, 
individuals, not-for-profit institutions and farms.
    Estimated Number of Respondents: 800.
    Estimated Average Time per Respondent: 53 minutes.
    Estimated Total Annual Burden Hours: 700.
    Also, the burden is reflected in the burdens of Forms 1128 and 
2553.
    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: September 3, 2014.
R. Joseph Durbala,
IRS Reports Clearance Officer.
[FR Doc. 2014-21602 Filed 9-10-14; 8:45 am]
BILLING CODE 4830-01-P

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