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###### Department of the Treasury

###### Internal Revenue Service

          - [REG-105346-03]

# 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 proposed regulation, REG-105346-03, Partnership Equity for Services.

# 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 this regulation should be directed to Joel Goldberger, at (202) 927-9368, or at Internal Revenue Service, room 6129, 1111 Constitution Avenue, NW., Washington, DC 20224, or through the Internet, at                         *Joel.Goldberger@irs.gov.*

# SUPPLEMENTARY INFORMATION:

*Title:*                     Partnership Equity for Services.                

*OMB Number:*                     1545-1947.                

*Regulation Project Number:*                     REG-105346-03.                

*Abstract:*                     The regulations provide that the transfer of a partnership interest in connection with the performance of services is subject to section 83 of the Code and provide rules for coordinating section 83 with partnership taxation principles.                

*Current Actions:*                     There is no change to this proposed regulation.                

*Type of Review:*                     Extension of a currently approved collection.                

*Affected Public:*                     Businesses or other for-profit organizations and individuals or households.                

*Estimated Number of Respondents:*                     150,000.                

*Estimated Total Burden Hours:*                     112,500.                

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 7, 2011.

Yvette B. Lawrence,

IRS Reports Clearance Officer.

[FR Doc. 2011-5572 Filed 3-10-11; 8:45 am]

BILLING CODE 4830-01-P