[Federal Register Volume 75, Number 162 (Monday, August 23, 2010)]
[Notices]
[Pages 51880-51881]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-20879]
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
[REG-106012-98] (TD 8936)
Proposed Collection; Comment Request for Regulation Project
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Notice and request for comments.
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[[Page 51881]]
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)).
Currently, the IRS is soliciting comments concerning an existing final
regulation, REG-106012-98 (TD 8936), Definition of Contribution in Aid
of Construction Under Section 118(c)(Sec. 1.118-2).
DATES: Written comments should be received on or before October 22,
2010 to be assured of consideration.
ADDRESSES: Direct all written comments to Gerald Fields, Internal
Revenue Service, room 6129, 1111 Constitution Avenue, NW., Washington,
DC 20224.
FOR FURTHER INFORMATION CONTACT: Requests for copies of the regulation
should be directed to Joel Goldberger at Internal Revenue Service, room
6129, 1111 Constitution Avenue, NW., Washington, DC 20224, or at (202)
927-9368, or through the Internet at [email protected].
SUPPLEMENTARY INFORMATION:
Title: Definition of Contribution in Aid of Construction Under
Section 118(c).
OMB Number: 1545-1639.
Regulation Project Number: REG-106012-98 (TD 8936).
Abstract: This regulation provides guidance with respect to section
118(c), which provides that a contribution in aid of construction
received by a regulated public water or sewage utility is treated as a
contribution to the capital of the utility and excluded from gross
income.
Current Actions: There is no change to these existing regulations.
Type of Review: Extension of a currently approved collection.
Affected Public: Business or other for-profit organizations.
Estimated Number of Respondents: 300.
Estimated Average Time Per Respondent: 1 hour.
Estimated Total Annual Reporting Hours: 300.
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: August 10, 2010.
Gerald Shields,
IRS Supervisory Tax Analyst.
[FR Doc. 2010-20879 Filed 8-20-10; 8:45 am]
BILLING CODE 4830-01-P