7828 Federal Register / Vol. 62, No. 34 / Thursday, February 20, 1997 / Notices

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 13, 1997.

Garrick R. Shear,

IRS Reports Clearance Officer.

[FR Doc. 97–4187 Filed 2–19–97; 8:45 am]

BILLING CODE 4830–01–U

[FI–46–93]

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 an

existing final regulation, FI–46–93 (TD

8555), Hedging Transactions (§ 1.1221–

2).

DATES: Written comments should be

received on or before April 21, 1997 to

be assured of consideration.

ADDRESSES: Direct all written comments

to Garrick R. Shear, Internal Revenue

Service, Room 5571, 1111 Constitution

Avenue NW., Washington, DC 20224.

FOR FURTHER INFORMATION CONTACT:

Requests for additional information or

copies of the information collection

should be directed to Carol Savage,

(202) 622–3945, Internal Revenue

Service, Room 5569, 1111 Constitution

Avenue NW., Washington, DC 20224.

SUPPLEMENTARY INFORMATION:

Title: Hedging Transactions.

OMB Number: 1545–1403.

Regulation Project Number: FI–46–93.

Abstract: This regulation clarifies the

character of gain or loss from the sale or

exchange of property that is part of a

business hedge. A taxpayer must

identify the hedging transaction on its

books and records before the close of the

day on which the taxpayer enters into

it and must also identify the item, items,

or aggregate risk being hedged. The

information will be used to verify that

a taxpayer is properly reporting its

business hedging transactions.

Current Actions: There is no change to

this existing regulation.

Type of Review: Extension of OMB

approval.

Affected Public: Business or other forprofit organizations.

Estimated Number of Respondents:

110,000.

Estimated Time Per Respondent: 52

minutes.

Estimated Total Annual Burden

Hours: 95,000.

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

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 14, 1997.

Garrick R. Shear,

IRS Reports Clearance Officer.

[FR Doc. 97–4188 Filed 2–19–97; 8:45 am]

BILLING CODE 4830–01–U

[INTL–372–88; INTL–401–88]

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 existing final

regulations, INTL–372–88 (TD 8632),

Section 482 Cost Sharing Regulations

(§ 1.482–7); INTL–401–88 (TD 8552),

Intercompany Transfer Pricing

Regulations Under Section 482

(§§ 1.482–1, 1.482–4).

DATES: Written comments should be

received on or before April 21, 1997 to

be assured of consideration.

ADDRESSES: Direct all written comments

to Garrick R. Shear, Internal Revenue

Service, room 5571, 1111 Constitution

Avenue NW., Washington, DC 20224.

FOR FURTHER INFORMATION CONTACT:

Requests for additional information or

copies of the information collection

should be directed to Carol Savage,

(202) 622–3945, Internal Revenue

Service, room 5569, 1111 Constitution

Avenue NW., Washington, DC 20224.

SUPPLEMENTARY INFORMATION:

Title: (INTL–372–88) Section 482 Cost

Sharing Regulations; (INTL–401–88)

Intercompany Transfer Pricing

Regulations Under 482.

OMB Number: 1545–1364.

Regulation Project Number: INTL–

372–88; INTL–401–88.

Abstract: The information collections

in INTL–372–88 are necessary to