[Federal Register Volume 76, Number 51 (Wednesday, March 16, 2011)]
[Notices]
[Pages 14458-14459]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2011-6113]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Submission for OMB Review; Comment Request
March 10, 2011.
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 April 15, 2011
to be assured of consideration.
Internal Revenue Service (IRS)
OMB Number: 1545-0200.
Type of Review: Revision of a currently approved collection.
Title: Application for Determination for Adopters of Master or
Prototype or Volume Submitter Plans.
Form: 5307.
Abstract: This form is filed by employers or plan administrators
who have adopted a prototype plan approved by the IRS National Office
or a regional prototype plan approved by the IRS District Director to
obtain a ruling that the plan adopted is qualified under IRC sections
401(a) and 501(a). It may not be used to request a letter for a
multiple employer plan.
Respondents: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 5,139,000 hours.
OMB Number: 1545-1083.
Type of Review: Extension without change of a currently approved
collection.
Title: INTL-399-88 (TD 8483) Treatment of Dual Consolidated Losses.
Abstract: Section 1503(d) denies use of the losses of one domestic
corporation by another affiliated domestic corporation where the loss
corporation is also subject to the income tax of another country. The
regulation allows an affiliate to make use of the loss if the loss has
not been used in the foreign group, to take the loss into income upon
future use of the loss in the foreign country. The regulation also
requires separate accounting for a dual consolidated loss where the
dual resident corporation files a consolidated return.
Respondents: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 1,620 hours.
OMB Number: 1545-1384.
Type of Review: Revision of a currently approved collection.
Title: Taxpayer Statement Regarding Refund.
Form: 3911.
Abstract: If taxpayer inquires about their non-receipt of refund
(or lost or stolen refund) and the refund has been issued, the
information and taxpayer signature are needed to begin tracing action.
Respondents: Individuals or Households.
Estimated Total Burden Hours: 1,660 hours.
OMB Number: 1545-1394.
Type of Review: Revision of a currently approved collection.
Title: U.S. Income Tax Return for Settlement Funds (Under Section
468B).
Form: 1120-SF.
Abstract: Form 1120-SF is used by settlement funds to report income
and taxes on earnings of the fund. The fund may be established by court
order, a breach of contract, a violation of law, an arbitration panel,
or the Environmental Protection Agency. The IRS uses Form 1120-SF to
determine if income and taxes are correctly computed.
Respondents: Private Sector: Business or other for-profits.
Estimated Total Burden Hours: 26,310 hours.
OMB Number: 1545-1423.
Type of Review: Extension without change of a currently approved
collection.
Title: PS-106-91, (TD 8563) State Housing Credit Ceiling and other
Rules Relating to the Low-Income Housing Credit.
Abstract: This document contains final regulations concerning the
low-income housing credit under section 42 of the Internal Revenue
Code. The regulations provide rules relating to the order in which
housing credit dollar amounts are allocated from each State's housing
credit ceiling under section 42(h)(3)(C) and the determination of which
States qualify to receive credit
[[Page 14459]]
from a national pool of credit under section 42(h)(3)(D). The
regulations affect State and local housing credit agencies and
taxpayers receiving credit allocations, and provide them guidance for
complying with section 42. The final regulations also amend Sec. 1.42-
5 to provide a cross reference to section 42(g)(8)(B).
Respondents: Private Sector: Business or other for-profits.
Estimated Total Burden Hours: 275 hours.
OMB Number: 1545-1471.
Type of Review: Extension without change of a currently approved
collection.
Title: REG-209626-93 (TD 8796) Notice, Consent, and Election
Requirements under Sections 411(a)(11) and 417.
Abstract: Regulation section 1.411(a)-11(c) provides that a
participant's consent to a distribution under code section 411(a)(11)
is not valid unless the participant receives a notice of his or her
rights under the plan no more than 90 and no less than 30 days prior to
the annuity starting date. Regulation section 1.417(e)-1 sets forth the
same 90/30-day time period for providing the notice explaining the
qualified joint and survivor annuity and waiver rights under Code
section 417(a)(3).
Respondents: Private Sector: Business or other for-profits.
Estimated Total Burden Hours: 8,333 hours.
OMB Number: 1545-1476.
Type of Review: Extension without change of a currently approved
collection.
Title: INTL-3-95 (TD 8687) Source of Income from Sales of Inventory
and Natural Resources Produced in One Jurisdiction and Sold in Another
Jurisdiction.
Abstract: The information requested is necessary for the Service to
audit taxpayers' returns to ensure taxpayers have properly determined
the source of income from sales of inventory produced in one country
and sold in another.
Respondents: Private Sector: Business or other for-profits.
Estimated Total Burden Hours: 1,125 hours.
OMB Number: 1545-1637.
Type of Review: Extension without change of a currently approved
collection.
Title: REG-106177-98(TD 8845) Adequate Disclosure of Gifts.
Abstract: The information requested in regulation section
301.6501(c)-1(f) (2) that must be provided on a gift tax return is
necessary to give the IRS a complete and accurate description of the
transfer in order to begin the running of the statute of limitations on
the gift. Prior to the expiration of the statute of limitations, a gift
tax may be assessed and the value may be adjusted in order to determine
the value of prior taxable gifts for estate and gift tax purposes.
Respondents: Individuals or Households.
Estimated Total Burden Hours: 1 hour.
OMB Number: 1545-1925.
Type of Review: Extension without change of a currently approved
collection.
Title: REG-125628-01 (TD 9243) Revision of Income Tax Regulations
under Sections 358, 367, 884, and 6038B Dealing with Statutory Mergers
or Consolidations Under Section 368(a)(1)(A) involving One or More
Foreign Corporations, and Guidance Necessary To Facilitate Business
Electronic Filing Under Section 6038B.
Abstract: The regulations provide rules regarding the merger or
consolidation of domestic or foreign corporations.
Respondents: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 50 hours.
OMB Number: 1545-2095.
Type of Review: Extension without change of a currently approved
collection.
Title: REG-139236-07--Measurement of Assets and Liabilities for
Pension Funding Purposes.
Abstract: These final regulations under sections 430(d), 430(g),
430(h)(2), and 430(i) provide guidance on the determination of benefit
liabilities and the valuation of plan assets for purposes of the
funding requirements that apply to single employer defined benefit
plans pursuant to changes made by the Pension Protection Act of 2006.
In order to implement the statutory provisions under section 430(h)(2),
the regulations provide for the sponsor of a defined benefit plan to
make any of several elections related to the interest rate used for
minimum funding purposes and require written notification of any such
election to be provided to the plan's enrolled actuary. These final
regulations provide for the sponsor of a defined benefit pension plan
to make any of several elections.
Respondents: Private Sector: Businesses or other for-profits, Not-
for-profit institutions.
Estimated Total Burden Hours: 54,000 hours.
OMB Number: 1545-2190.
Type of Review: Extension without change of a currently approved
collection.
Title: IRS Paid Preparer Tax Identification Number (PTIN)
Application.
Form: W-12.
Abstract: Paid tax return preparers will be required to get a
preparer tax identification number (PTIN), and to pay the fee required
with the application. A third party will administer the PTIN
application process. Most applications will be filled out on-line. Form
W-12 is being developed to replace Form W-7P. Form W-12 will be used to
collect the information the new regulations require and to collect the
information the third party needs to administer the PTIN application
process.
Respondents: Individuals or Households.
Estimated Total Burden Hours: 1,464,000 hours.
OMB Number: 1545-2192.
Type of Review: Extension without change of a currently approved
collection.
Title: Report of Branded Prescription Drug Information.
Form: 8947.
Abstract: Per Section 9008 of the Patient Protection and Affordable
Care Act (ACA), Public Law 111-148 (124 Stat. 119 (2010)), Form 8947 is
used to report controlled group status and information on orphan drug
credits allowed for covered pharmaceutical manufacturers and importers.
Respondents: Private Sector: Businesses or other for-profits.
Estimated Total Burden Hours: 3,680 hours.
Bureau Clearance Officer: Yvette Lawrence, Internal Revenue
Service, 1111 Constitution Avenue, NW., Washington, DC 20224; (202)
927-4374.
OMB Reviewer: Shagufta Ahmed, Office of Management and Budget, New
Executive Office Building, Room 10235, Washington, DC 20503; (202) 395-
7873.
Dawn D. Wolfgang,
Treasury PRA Clearance Officer.
[FR Doc. 2011-6113 Filed 3-15-11; 8:45 am]
BILLING CODE 4830-01-P