9026 Federal Register / Vol. 75, No. 38 / Friday, February 26, 2010 / Notices 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

Proposed Collection; Comment 

Request for Form 8038–T 

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 

8038–T, Arbitrage Rebate and Penalty in 

Lieu of Arbitrage Rebate. 

DATES: Written comments should be 

received on or before April 27, 2010 to 

be assured of consideration. 

ADDRESSES: Direct all written comments 

to R. Joe Durbala, 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 Elaine Christophe, 

(202) 622–3179, or at Internal Revenue 

Service, Room 6129, 1111 Constitution 

Avenue, NW., Washington DC 20224, or 

through the Internet, at 

Elaine.H.Christophe@irs.gov. 

SUPPLEMENTARY INFORMATION: 

Title: Arbitrage Rebate and Penalty in 

Lieu of Arbitrage Rebate. 

OMB Number: 1545–1219. 

Form Number: 8038–T. 

Abstract: Form 8038–T is used by 

issuers of tax exempt bonds to report 

and pay the arbitrage rebate and to elect 

and/or pay various penalties associated 

with arbitrage bonds. The issuers 

include state and local governments. 

Current Actions: There are no changes 

being made to the form at this time. 

Type of Review: Extension of a 

currently approved collection. 

Affected Public: State, local or tribal 

governments. 

Estimated Number of Respondents: 

2,500. 

Estimated Time per Response: 22 

hours, 11 minutes. 

Estimated Total Annual Burden 

Hours: 55,475. 

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: February 19, 2010. 

R. Joe Durbala, 

IRS Supervisory Tax Analyst. 

[FR Doc. 2010–3932 Filed 2–25–10; 8:45 am] 

BILLING CODE 4830–01–P 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

[REG–209682–94] 

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 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 final 

regulation, REG–209682–94 (TD 8847), 

Adjustments Following Sales of 

Partnership Interests, (§§ 1.732–1 and 

1.743–1). 

DATES: Written comments should be 

received on or before April 27, 2010 to 

be assured of consideration. 

ADDRESSES: Direct all written comments 

to R. Joseph Durbala, Internal Revenue 

Service, room 6129, 1111 Constitution 

Avenue, NW., Washington, DC 20224. 

FOR FURTHER INFORMATION CONTACT: 

Requests for additional information or 

copies of regulations should be directed 

to Dawn Bidne, at Internal Revenue 

Service, room 6129, 1111 Constitution 

Avenue, NW., Washington, DC 20224, 

or at (202) 622–3933, or through the 

Internet at Dawn.E.Bidne@irs.gov. 

SUPPLEMENTARY INFORMATION: 

Title: Adjustments Following Sales of 

Partnership Interests. 

OMB Number: 1545–1588. 

Regulation Project Number: REG– 

209682–94. 

Abstract: Partnerships, with a section 

754 election in effect, are required to 

adjust the basis of partnership property 

following certain transfers of 

partnership interests. This regulation 

relates to the optional adjustments to 

the basis of partnership property 

following certain transfers of 

partnership interests under section 743, 

the calculation of gain or loss under 

section 751(a) following the sale or 

exchange of a partnership interest, the 

allocation of basis adjustments among 

partnership assets under section 755, 

the allocation of a partner’s basis in its 

partnership interest to properties 

distributed to the partner by the 

partnership under section 732(c), and 

the computation of a partner’s 

proportionate share of the adjusted basis 

of depreciable property (or depreciable 

real property) under section 1017. 

Current Actions: There are no changes 

being made to the regulation at this 

time. 

Type of Review: Extension of a 

currently approved collection. 

Affected Public: Business or other forprofit organizations. 

Estimated Number of Respondents/ 

Recordkeepers: 226,000. 

Estimated Time per Respondent/ 

Recordkeeper: 4 hrs. 

Estimated Total Annual Burden 

Hours: 904,000. 

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 


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