[Federal Register Volume 75, Number 140 (Thursday, July 22, 2010)]
[Notices]
[Pages 42821-42823]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-17918]
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DEPARTMENT OF THE TREASURY
Submission for OMB Review; Comment Request
July 16, 2010.
The Department of the Treasury will submit the following public
information collection requirements to OMB for review and clearance
under the Paperwork Reduction Act of 1995, Public Law 104-13 on or
after the date of publication of this notice. A copy of the submissions
may be obtained by calling the Treasury Bureau Clearance Officer
listed. Comments regarding these information collections should be
addressed to the OMB reviewer listed and to the Treasury PRA Clearance
Officer, Department of the Treasury, 1750 Pennsylvania Avenue, NW.,
Suite 11010, Washington, DC 20220.
DATES: Written comments should be received on or before August 23, 2010
to be assured of consideration.
Internal Revenue Service (IRS)
OMB Number: 1545-0041.
Type of Review: Revision of a currently approved collection.
Title: Corporation Dissolution or Liquidation.
Form: 966.
Abstract: Form 966 is filed by a corporation whose shareholders
have agreed to liquidate the corporation. As a result of the
liquidation, the shareholders receive the property of the corporation
in exchange for their stock. The IRS uses Form 966 to determine if the
liquidation election was properly made and if any taxes are due on the
transfers of property.
Respondents: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 209,820 hours.
OMB Number: 1545-0181.
Type of Review: Extension without change of a currently approved
collection.
Title: Application for Extension of Time to File a Return and/or
Pay U.S. Estate (and Generation-Skipping Transfer) Taxes.
Form: 4768.
Abstract: Form 4768 is used by estates to request an extension of
time to file an estate (and GST) tax return and/or to pay the estate
(and GST) taxes and to explain why the extension should be granted. IRS
uses the information to decide whether the extension should be granted.
Respondents: Individuals or Households.
Estimated Total Burden Hours: 30,710 hours.
OMB Number: 1545-0242.
Type of Review: Extension without change of a currently approved
collection.
Title: Gas Guzzler Tax.
Form: 6197.
Abstract: Form 6197 is used to compute the gas guzzler tax on
automobiles whose fuel economy does not meet certain standard for fuel
economy. The tax is reported quarterly of Form 720. Form 6197 is filed
each quarter with Form 720 for manufacturers. Individuals can make a
one-time filing if they import a gas guzzler auto for personal use. The
IRS uses the information to verify computation of the tax and
compliance with the law.
Respondents: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 4,659 hours.
OMB Number: 1545-0704.
Type of Review: Revision of a currently approved collection.
Title: Information Return of U.S. Persons with Respect To Certain
Foreign Corporations.
Form: 5471.
Abstract: Form 5471 and related schedules are used by U.S. persons
that have an interest in a foreign corporation. The form is used to
report income from the foreign corporation. The form and schedules are
used to satisfy the reporting requirements of sections 6035, 6038 and
6046 and the regulations there under pertaining to the involvement of
U.S. persons with certain foreign corporations.
Respondents: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 4,280,244 hours.
OMB Number: 1545-1564.
Type of Review: Extension without change of a currently approved
collection.
Title: REG-103330-97 (Final) (T.D. 8839) IRS Adoption Taxpayer
Identification Numbers.
Abstract: The regulations provide rules for obtaining IRS adoption
taxpayer identification numbers (ATINs), which are used to identify
children placed for adoption. To obtain an ATIN, a prospective adoptive
parent must file Form W-7A. The regulations assist prospective adoptive
parents in claiming tax benefits with respect to these children.
Respondents: Individuals or Households.
Estimated Total Burden Hours: 1 hour.
OMB Number: 1545-1595.
Type of Review: Extension without change of a currently approved
collection.
[[Page 42822]]
Title: Revenue Procedure 98-25, Automatic Data Processing.
Abstract: Rev. Proc. 98-25 specifies the basic requirements that
the IRS considers to be essential in cases where a taxpayers's records
are maintained within an Automatic Data Processing System (ADP). If
machine-sensible records are lost, stolen, destroyed, or materially
inaccurate, the Rev. Proc. requires that a taxpayer promptly notify its
District Director and submit a plan to replace the affected records.
The District Director will notify the taxpayer of any objection(s) to
the taxpayer's plan. Also, the Rev. Proc. provides that a taxpayer who
maintains machine-sensible records may request to enter into a Record
Retention. * * *
Respondents: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 120,000 hours.
OMB Number: 1545-1578.
Type of Review: Extension without change of a currently approved
collection.
Title: REG-106542-98 (Final), Election to Treat Trust as Part of an
Estate.
Abstract: REG-106542-98 and Rev. Proc. 98-13 relate to an election
to have certain revocable trusts treated and taxed as part of an
estate, and provides the procedures and requirements for making the
section 645 election.
Respondents: Individuals or Households.
Estimated Total Burden Hours: 5,000 hours.
OMB Number: 1545-1736.
Type of Review: Extension without change of a currently approved
collection.
Title: Revenue Procedure 2001-24, Advanced Insurance Commissions.
Abstract: A taxpayer that wants to obtain automatic consent to
change its method of accounting for cash advances on commissions paid
to its agents must agree to the specified terms and conditions under
the revenue procedure. This agreement is ratified by attaching the
required statement to the Federal income tax return for the year of
change.
Respondents: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 1,318 hours.
OMB Number: 1545-1873.
Type of Review: Extension without change of a currently approved
collection.
Title: Revenue Procedure 2004-15, Waivers of Minimum Funding
Standards.
Abstract: This revenue procedure describes the process for
obtaining a waiver from the minimum funding standards set forth in
section 412 of the Code.
Respondents: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 4,730 hours.
OMB Number: 1545-1599.
Type of Review: Extension without change of a currently approved
collection.
Title: REG-208299-90 (NPRM) Allocation and Sourcing of Income and
Deductions Among Taxpayers Engaged in a Global Dealing Operation.
Abstract: The information requested in sections 1.475(g)-2(b),
1.482-8(b)(3), (c)(3), (e)(5), (e)(6), (d)(3), and 1.863-3(h) is
necessary for Service to determine whether the taxpayer has entered
into controlled transactions at an arm's length price.
Respondents: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 20,000 hours.
OMB Number: 1545-2045.
Type of Review: Extension without change of a currently approved
collection.
Title: (Announcement 2006-95) Settlement Initiative for Employees
of Foreign Embassies, Foreign Consular Offices and International
Organizations in the United States.
Abstract: The IRS has determined a substantial number of U.S.
citizens and lawful permanent residents working in the international
community have failed to fulfill their U.S. tax obligations. The IRS
needs the information in order to apply the terms of the settlement and
determine the amount of taxes, applicable statutory interest and
penalties. The respondents are individuals employed by foreign
embassies, foreign consular offices or international organizations in
the United States.
Respondents: Individuals or Households.
Estimated Total Burden Hours: 11,000 hours.
OMB Number: 1545-1625.
Type of Review: Extension without change of a currently approved
collection.
Title: REG-105170-97 and REG-112991-01, (Final) Credit for
Increasing Research Activities (TD 8930 & TD 9104).
Abstract: These final regulations relate to the computation of the
credit under section 41(c) and the definition of qualified research
under section 41(d). These regulations are intended to provide (1)
guidance concerning the requirements necessary to qualify for the
credit for increasing research activities, (2) guidance in computing
the credit for increasing research activities, and (3) rules for
electing and revoking the election of the alternative incremental
credit.
Respondents: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 250 hours.
OMB Number: 1545-1669.
Type of Review: Extension without change of a currently approved
collection.
Title: REG-108639-99 (Final) Retirement Plans; Cash or Deferred
Arrangements Under Section 401(k) and Matching Contributions or
Employee Contributions Under Section 401(m); Notice 2000-3.
Abstract: The regulations provide guidance for qualified retirement
plans containing cash or deferred arrangements under section 401(k) and
providing matching contributions or employee contributions under
section 401(m). The IRS needs this information to insure compliance
with sections 401(k) and 401(m).
Respondents: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 26,500 hours.
OMB Number: 1545-1588.
Type of Review: Extension without change of a currently approved
collection.
Title: REG-209682-94 (TD 8847--Final) Adjustments Following Sales
of Partnership Interests.
Abstract: Partnerships, with a section 754 election in effect, are
required to adjust the basis of partnership property following certain
transfers of partnership interests. The regulations require the
partnership to attach a statement to its partnership return indicating
the adjustment and how it was allocated among the partnership property.
Respondents: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 904,000 hours.
OMB Number: 1545-1869.
Type of Review: Extension without change of a currently approved
collection.
Title: Information Return for Acquisition of Control or Substantial
Change in Capital Structure.
Form: 8806.
Abstract: Form 8806 is used to report information regarding
transactions involving acquisition of control or substantial change in
capital structure under section 6043.
Respondents: Private Sector: Businesses or other for-profits.
[[Page 42823]]
Estimated Total Burden Hours: 113 hours.
OMB Number: 1545-2047.
Type of Review: Extension without change of a currently approved
collection.
Title: Rev Proc 2007-21--Revenue Procedure Regarding 6707/6707A
Rescission Request Procedures.
Abstract: This revenue procedure provides guidance to persons who
are assessed a penalty under section 6707A or 6707 of the Internal
Revenue Code, and who may request rescission of those penalties from
the Commissioner.
Respondents: Individuals or Households.
Estimated Total Burden Hours: 430 hours.
OMB Number: 1545-1729.
Type of Review: Extension without change of a currently approved
collection.
Title: TD 9114 (Final) Electronic Payee Statements.
Abstract: In general, under these regulations, a person required to
furnish a statement on Form W-2 under Code sections 6041(d) or 6051, or
Forms 1098-T or 1098-E under Code section 6050S, may furnish these
statements electronically if the recipient consents to receive them
electronically, and if the person furnishing the statement (1) makes
certain disclosures to the recipient, (2) annually notifies the
recipient that the statement is available on a Web site, and (3)
provides access to the statement on that Web site for a prescribed
period of time.
Respondents: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 2,844,950 hours.
Bureau Clearance Officer: R. Joseph Durbala, Internal Revenue
Service, 1111 Constitution Avenue, NW., Room 6129, Washington, DC
20224; (202) 622-3634.
OMB Reviewer: Shagufta Ahmed, Office of Management and Budget, New
Executive Office Building, Room 10235, Washington, DC 20503; (202) 395-
7873.
Celina Elphage,
Treasury PRA Clearance Officer.
[FR Doc. 2010-17918 Filed 7-21-10; 8:45 am]
BILLING CODE 4830-01-P