[Federal Register Volume 72, Number 242 (Tuesday, December 18, 2007)]
[Notices]
[Page 71740]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E7-24406]
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
[PS-262-82]
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 an
existing final regulation, PS-262-82 (TD 8600), Definition of an S
Corporation (Sec. 1.1361-3).
DATES: Written comments should be received on or before February 19,
2008 to be assured of consideration.
ADDRESSES: Direct all written comments to Glenn Kirkland, 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 Larnice Mack at
Internal Revenue Service, room 6129, 1111 Constitution Avenue, NW.,
Washington, DC 20224, or at (202)622-3179, or through the Internet at
([email protected]).
SUPPLEMENTARY INFORMATION:
Title: Definition of an S Corporation.
OMB Number: 1545-0731.
Regulation Project Number: PS-262-82.
Abstract: This regulation provides the procedures and the
statements to be filed by certain individuals for making the election
under Internal Revenue Code section 136(d)(2), the refusal to consent
to the election, or the revocation of that election. The statements
required to be filed are used to verify that taxpayers are complying
with requirements imposed by Congress under subchapter S.
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 and
individuals.
Estimated Number of Respondents: 1,005.
Estimated Time Per Respondent: 1 hour.
Estimated Total Annual Burden Hours: 1,005.
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: December 6, 2007.
Glenn Kirkland,
IRS Reports Clearance Officer.
[FR Doc. E7-24406 Filed 12-17-07; 8:45 am]
BILLING CODE 4830-01-P