12416 Federal Register / Vol. 76, No. 44 / Monday, March 7, 2011 / Notices 

had sold the property at fair market 

value unless the RIC or REIT elects 

section 1374 treatment or (2) the RIC or 

REIT will be subject to section 1374 

treatment with respect to the net 

recognized built-in-gain, unless the C 

corporation elects deemed sale 

treatment. The regulation provides that 

a section 1374 election is made by filing 

a statement, signed by an official 

authorized to sign the income tax return 

of the RIC or REIT and attached to the 

RIC’s or REIT’s Federal income tax 

return for the taxable year in which the 

property of the C corporation becomes 

the property of the RIC or REIT. The 

regulation provides that a deemed sale 

election is made by filing a statement, 

signed by an official authorized to sign 

the income tax return of the C 

corporation and attached to the C 

corporation’s Federal income tax return 

for the taxable year in which the 

deemed sale occurs. 

Current Actions: There are no changes 

being made to this existing regulation. 

Type of Review: Extension of 

currently approved collection. 

Affected Public: Business or other forprofit organizations. 

Estimated Number of Respondents: 

140. 

Estimated Time per Respondent: 30 

minutes. 

Estimated Total Annual Burden 

Hours: 70. 

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: March 1, 2011. 

Allan Hopkins, 

Tax Analyst. 

[FR Doc. 2011–5003 Filed 3–4–11; 8:45 am] 

BILLING CODE 4830–01–P 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

Proposed Collection; Comment 

Request for Form 8834 

AGENCY: Internal Revenue Service (IRS), 

Treasury. 

ACTION: Notice and request for 

comments. 

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 Form 

8834, Qualified Electric Vehicle Credit. 

DATES: Written comments should be 

received on or before May 6, 2011 to be 

assured of consideration. 

ADDRESSES: Direct all written comments 

to Allan Hopkins, Internal Revenue 

Service, room 6129, 1111 Constitution 

Avenue, NW., Washington, DC 20224. 

FOR FURTHER INFORMATION CONTACT: 

Requests for additional information or 

copies of the form and instructions 

should be directed to Ralph Terry at 

Internal Revenue Service, room 6129, 

1111 Constitution Avenue, NW., 

Washington, DC 20224, or at (202) 622– 

8144, or through the Internet at 

Ralph.M.Terry@irs.gov. 

SUPPLEMENTARY INFORMATION: 

Title: Qualified Electric Vehicle 

Credit. 

OMB Number: 1545–1374. 

Form Number: Form 8834. 

Abstract: Internal Revenue Code 

section 30 allows a 10% tax credit, not 

to exceed $4,000, for qualified electric 

vehicles placed in service after June 30, 

1993. Form 8834 is used to compute the 

allowable credit. The IRS uses the 

information on the form to determine 

that the credit is allowable and has been 

properly computed. 

Current Actions: There are no changes 

being made to the form at this time. 

Type of Review: Extension of a 

currently approved collection. 

Affected Pubic: Individuals or 

households and businesses or other forprofit organizations. 

Estimated Number of Respondents: 

500. 

Estimated Time per Respondent: 8 

hours, 47 minutes. 

Estimated Total Annual Burden 

Hours: 4,395. 

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: March 1, 2011. 

Allan Hopkins, 

Tax Analyst. 

[FR Doc. 2011–5001 Filed 3–4–11; 8:45 am] 

BILLING CODE 4830–01–P 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

Proposed Collection; Comment 

Request for Form 8939 

AGENCY: Internal Revenue Service (IRS), 

Treasury. 


srobinson on DSKHWCL6B1PROD with NOTICES
Federal Register / Vol. 76, No. 44 / Monday, March 7, 2011 / Notices 12417 

ACTION: Notice and request for 

comments. 

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 Form 

8939, Allocation of Increase in Basis for 

Property Acquired From a Decedent. 

DATES: Written comments should be 

received on or before May 6, 2011 to be 

assured of consideration. 

ADDRESSES: Direct all written comments 

to Allan Hopkins, Internal Revenue 

Service, Room 6129, 1111 Constitution 

Avenue, NW., Washington, DC 20224. 

FOR FURTHER INFORMATION CONTACT: 

Requests for additional information or 

copies of the form and instructions 

should be directed to Ralph Terry, (202) 

622–8144, at Internal Revenue Service, 

Room 6129, 1111 Constitution Avenue, 

NW., Washington, DC 20224, or through 

the Internet at Ralph.M.Terry@irs.gov. 

SUPPLEMENTARY INFORMATION: 

Title: Allocation of Increase in Basis 

for Property Acquired From a Decedent. 

OMB Number: 1545–2203. 

Form Number: Form 8939. 

Abstract: Section 6018 of the Internal 

Revenue Code requires this return to be 

filed by an executor the fair market 

value of all property (other than cash) 

acquired from the decedent is more than 

$1.3 million; in the case of a decedent 

who was a nonresident not a citizen of 

the United States, the fair market value 

of tangible property situated in the 

United States and other property 

acquired from the decedent by a United 

States person is greater than $60,000; or 

appreciated property is acquired from 

the decedent that the decedent acquired 

by gift within three years of death and 

a gift tax return was required to be filed 

on the transfer to the decedent. Section 

6018(e) also requires executors who 

must file Form 8939 to provide the same 

information to recipients of the property 

as the executor must provide to the IRS. 

Current Actions: There is no change 

in the paperwork burden previously 

approved by OMB. 

Type of Review: Extension of a 

currently approved collection. 

Affected Public: Individuals or 

households, business or other for-profit 

groups, not-for-profit institutions, farms, 

Federal Government, State, Local, or 

Tribal Governments. 

Estimated Number of Respondents: 

188,000. 

Estimated Time per Respondent: 9 

hours 11 minutes. 

Estimated Total Annual Burden 

Hours: 1,725,090. 

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: March 1, 2011. 

Allan Hopkins, 

Tax Analyst. 

[FR Doc. 2011–4998 Filed 3–4–11; 8:45 am] 

BILLING CODE 4830–01–P 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

Proposed Collection; Comment 

Request for Form 8925 

AGENCY: Internal Revenue Service (IRS), 

Treasury. 

ACTION: Notice and request for 

comments. 

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 Form 

8925, Report of Employer-Owned Life 

Insurance Contracts. 

DATES: Written comments should be 

received on or before May 6, 2011 to be 

assured of consideration. 

ADDRESSES: Direct all written comments 

to Allan Hopkins, Internal Revenue 

Service, room 6129, 1111 Constitution 

Avenue, NW., Washington, DC 20224. 

FOR FURTHER INFORMATION CONTACT: 

Requests for additional information or 

copies of the form and instructions 

should be directed to Ralph Terry, (202) 

622–8144, at Internal Revenue Service, 

room 6129, 1111 Constitution Avenue, 

NW., Washington, DC 20224, or through 

the Internet at Ralph.M.Terry@irs.gov. 

SUPPLEMENTARY INFORMATION: 

Title: Report of Employer-Owned Life 

Insurance Contracts. 

OMB Number: 1545–2089. 

Form Number: Form 8925. 

Abstract: Form 8925, Report of 

Employer-Owned Life Insurance 

Contracts, is used by a policyholder 

(who is engaged in a trade or business 

which employs the person insured and 

who is a direct or indirect beneficiary) 

to report certain information concerning 

the number of employees covered by 

employer-owned life insurance in force 

on those employees at the end of the tax 

year. 

Current Actions: There is no change 

in the paperwork burden previously 

approved by OMB. This form is being 

submitted for renewal purposes only. 

Type of Review: Extension of a 

currently approved collection. 

Affected Public: Businesses and other 

for-profit organizations, Farms. 

Estimated Number of Respondents: 

16,000. 

Estimated Time per Respondent: 4 

hours 28 minutes. 

Estimated Total Annual Burden 

Hours: 71,360. 

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. 


srobinson on DSKHWCL6B1PROD with NOTICES