13448 Federal Register / Vol. 76, No. 48 / Friday, March 11, 2011 / Notices 

Title: Product Liability Losses and 

Accumulations for Product Liability 

Losses. 

OMB Number: 1545–0863. Regulation 

Project Number: TD 8096. 

Abstract: This document provides 

final regulation relating to product 

liability losses and accumulations for 

the payment of reasonable anticipated 

product liability losses. Changes to the 

applicable tax law were made by the 

Revenue Act of 1978. The regulations 

would provide the public with guidance 

needed lo comply with the applicable 

parts of act. 

Current Actions: There is no change to 

this existing regulation. 

Type of Review: Extension of 

currently approved collection. 

Affected Public: Business or other forprofit organizations. 

Estimated Number of Respondents: 

5,000. 

Estimated Average Time per 

Respondent: 30 minutes. 

Estimated Total Annual Burden 

Hours: 2,500. 

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 3, 2011. 

Yvette Lawrence, 

IRS Reports Clearance Officer. 

[FR Doc. 2011–5565 Filed 3–10–11; 8:45 am] 

BILLING CODE 4830–01–P 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

[REG–209365–89] (T.D. 9013) 

Proposed Collection; Comment 

Request for Regulation Project 

AGENCY: Internal Revenue Service (IRS), 

Treasury. 

ACTION: Notice and request for 

comments. 

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)). The IRS is soliciting 

comments concerning a final regulation, 

REG–209365–89 (T.D. 9013), 

Limitations on Passive Activity Losses 

and Credits—Treatment of Self-Charged 

Items of Income and Expense (Section 

1.469–7(f)). 

DATES: Written comments should be 

received on or before May 10, 2011 to 

be assured of consideration. 

ADDRESSES: Direct all written comments 

to Yvette B. Lawrence, Internal Revenue 

Service, Room 6129, 1111 Constitution 

Avenue, NW., Washington, DC 20224. 

FOR FURTHER INFORMATION CONTACT: 

Requests for copies of the regulations 

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 

Joel.P.Goldberger@irs.gov. 

SUPPLEMENTARY INFORMATION: 

Title: Limitation on Passive Activity 

Losses and Credits—Treatment of SelfCharged Items of Income and Expense. 

OMB Number: 1545–1244. 

Regulation Project Number: REG– 

209365–89 (T.D. 9013). 

Abstract: Section 1.469–7(f)(1) of this 

regulation permits entities to elect to 

avoid application of the regulation in 

the event the pass-through entity 

chooses to not have the income from 

leading transactions with owners of 

interests in the entity re-characterized as 

passive activity gross income. The IRS 

will use this information to determine 

whether the entity has made a proper 

timely election and to determine that 

taxpayers are complying with the 

election in the taxable year of the 

election and subsequent taxable years. 

Current Actions: There is no change to 

this existing regulation. 

Type of Review: Extension of 

currently approved collection. 

Affected Public: Individuals and 

business or other for-profit 

organizations. 

Estimated Number of Respondents: 

1,000. 

Estimated Total Annual Burden 

Hours: 150. 

The following paragraph applies to all 

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 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 2, 2011. 

Yvette B. Lawrence, 

IRS Reports Clearance Officer. 

[FR Doc. 2011–5566 Filed 3–10–11; 8:45 am] 

BILLING CODE 4830–01–P 


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