[Federal Register Volume 75, Number 112 (Friday, June 11, 2010)]
[Notices]
[Pages 33384-33385]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-14012]
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
[INTL-952-86]
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 notice of proposed rulemaking and temporary regulation, INTL-
952-86 (TD 8228; TD 8410), Allocation and Apportionment of Interest
Expense and Certain Other Expenses (Sec. Sec. 1.861-9T, and 1.861-
12T).
DATES: Written comments should be received on or before August 10, 2010
to be assured of consideration.
ADDRESSES: Direct all written comments to Gerald J. Shields, 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 R. Joseph Durbala at
Internal Revenue Service, Room 6129, 1111 Constitution Avenue, NW.,
Washington, DC 20224, or at (202) 622-3634, or through the Internet at
[email protected].
SUPPLEMENTARY INFORMATION: Title: Allocation and Apportionment of
Interest Expense and Certain Other Expenses.
OMB Number: 1545-1072.
Regulation Project Number: INTL-952-86 (TD 8228; TD 8410-final).
Abstract: Section 864(e) of the Internal Revenue Code provides
rules concerning the allocation and apportionment of interest and
certain other expenses to foreign source income for purposes of
computing the foreign tax credit limitation. These regulations provide
for the affirmative election of either the gross income method or the
asset method of apportionment in the case of a controlled foreign
corporation.
Current Actions: There is no change to these existing regulations.
Type of Review: Extension of a currently approved collection.
Affected Public: Individuals or households, and business or other
for-profit organizations.
Estimated Number of Respondents/Recordkeepers: 15,000.
Estimated Time per Respondent/Recordkeeper: 15 minutes.
Estimated Total Annual Reporting/Recordkeeping Hours: 3,750.
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,
[[Page 33385]]
maintenance, and purchase of services to provide information.
Approved: June 4, 2010.
Gerald J. Shields,
IRS Reports Clearance Officer.
[FR Doc. 2010-14012 Filed 6-10-10; 8:45 am]
BILLING CODE 4830-01-P