13862 Federal Register / Vol. 72, No. 56 / Friday, March 23, 2007 / Notices 

Approved: March 12, 2007. 

Glenn Kirkland, 

IRS Reports Clearance Officer. 

[FR Doc. E7–5273 Filed 3–22–07; 8:45 am] 

BILLING CODE 4830–01–P 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

Proposed Collection; Comment 

Request for Form 8855 

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 

8855, Election To Treat a Qualified 

Revocable Trust as Party of an Estate. 

DATES: Written comments should be 

received on or before May 22, 2007 to 

be assured of consideration. 

ADDRESSES: Direct all written comments 

to Glenn Kirkland Internal Revenue 

Service, room 6516, 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 Larnice Mack at 

Internal Revenue Service, room 6512, 

1111 Constitution Avenue, NW., 

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

3179, or through the Internet at 

Larnice.Mack@irs.gov. 

SUPPLEMENTARY INFORMATION: 

Title: Election To Treat a Qualified 

Revocable Trust as Party of an Estate. 

OMB Number: 1545–1881. 

Form Number: 8855. 

Abstract: Form 8855 is used to make 

a section 645 election that allows a 

qualified revocable trust to be treated 

and taxed (for income tax purposes) as 

part of its related estate during the 

election period. 

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: Business or other forprofit organizations. 

Estimated Number of Respondents: 

5,000. 

Estimated Time per Respondent: 5 

hours, 38 minutes. 

Estimated Total Annual Burden 

Hours: 28,200. 

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, 2007. 

Glenn Kirkland, 

IRS Reports Clearance Officer. 

[FR Doc. E7–5274 Filed 3–22–07; 8:45 am] 

BILLING CODE 4830–01–P 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

Proposed Collection; Comment 

Request for Form 1118 

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 

1118, Foreign Tax Credit-Corporations. 

DATES: Written comments should be 

received on or before May 22, 2007 to 

be assured of consideration. 

ADDRESSES: Direct all written comments 

to Glenn Kirkland, Internal Revenue 

Service, room 6512, 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 Larnice Mack at 

Internal Revenue Service, room 6512, 

1111 Constitution Avenue, NW., 

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

3179, or through the Internet at 

Larnice.Mack@irs.gov. 

SUPPLEMENTARY INFORMATION: 

Title: Foreign Tax CreditCorporations. 

OMB Number: 1545–0122. 

Form Number: 1118. 

Abstract: Form 1118 and separate 

Schedules I and J are used by domestic 

and foreign corporations to claim a 

credit for taxes paid to foreign countries. 

The IRS uses Form 1118 and related 

schedules to determine if the 

corporation has computed the foreign 

tax credit correctly. 

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: Business or other forprofit organizations. 

Estimated Number of Respondents: 

30,950. 

Estimated Time per Respondents: 130 

hours, 16 minutes. 

Estimated Total Annual Burden 

Hours: 4,031,736. 

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: 


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