14644 Federal Register / Vol. 72, No. 59 / Wednesday, March 28, 2007 / Notices 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

Proposed Collection; Comment 

Request for Form 8819 

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 

8819, Dollar Election Under Section 

985. 

DATES: Written comments should be 

received on or before May 29, 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 Allan Hopkins, at 

Internal Revenue Service, room 6516, 

1111 Constitution Avenue, NW., 

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

6665, or through the Internet at 

Allan.M.Hopkins@irs.gov. 

SUPPLEMENTARY INFORMATION: 

Title: Dollar Election Under Section 

985. 

OMB Number: 1545–1189. 

Form Number: 8819. 

Abstract: Form 8819 is filed by U.S. 

and foreign businesses to elect the U.S. 

dollar as their functional currency or as 

the functional currency of their 

controlled entities. The IRS uses Form 

8819 to determine if the election is 

properly made. 

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: 

500. 

Estimated Time per Respondent: 6 

hours, 26 minutes. 

Estimated Total Annual Burden 

Hours: 3,220. 

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 21, 2007. 

Glenn Kirkland, 

IRS Reports Clearance Officer. 

[FR Doc. E7–5600 Filed 3–27–07; 8:45 am] 

BILLING CODE 4830–01–P 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

Proposed Collection; Comment 

Request for Form 1099–S 

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 

1099–S, Proceeds From Real Estate 

Transactions. 

DATES: Written comments should be 

received on or before May 29, 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 Allan Hopkins, at 

(202) 622–6665, or at Internal Revenue 

Service, room 6516, 1111 Constitution 

Avenue, NW., Washington, DC 20224, 

or through the internet, at 

Allan.M.Hopkins@irs.gov. 

SUPPLEMENTARY INFORMATION: 

Title: Proceeds From Real Estate 

Transactions. 

OMB Number: 1545–0997. 

Form Number: 1099–S. 

Abstract: Internal Revenue Code 

section 6045(e) and the regulations 

thereunder require persons treated as 

real estate brokers to submit an 

information return to the IRS to report 

the gross proceeds from real estate 

transactions. Form 1099–S is used for 

this purpose. The IRS uses the 

information on the form to verify 

compliance with the reporting rules 

regarding real estate transactions. 

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 and individuals or 

households. 

Estimated Number of Responses: 

3,646,110. 

Estimated Time per Response: 8 

minutes. 

Estimated Total Annual Burden 

Hours: 510,456. 

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. 


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