69372 Federal Register / Vol. 65, No. 222 / Thursday, November 16, 2000 / Notices

DEPARTMENT OF THE TREASURY

Internal Revenue Service

[LR–236–81]

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, LR–236–81 (TD

8251), Credit for Increasing Research

Activity (Section 1.41–8(d)).

DATES: Written comments should be

received on or before January 16, 2001

to be assured of consideration.

ADDRESSES: Direct all written comments

to Garrick R. Shear, Internal Revenue

Service, room 5244, 1111 Constitution

Avenue NW., Washington, DC 20224.

FOR FURTHER INFORMATION CONTACT:

Requests for additional information or

copies of the regulation should be

directed to Martha R. Brinson, (202)

622-3869, Internal Revenue Service,

room 5244, 1111 Constitution Avenue

NW., Washington, DC 20224.

SUPPLEMENTARY INFORMATION:

Title: Credit for Increasing Research

Activity.

OMB Number: 1545–0732.

Regulation Project Number: LR–236–

81.

Abstract: This regulation provides

rules for the credit for increasing

research activities. Internal Revenue

Code section 41(f) provides that

commonly controlled groups of

taxpayers shall compute the credit as if

they are a single taxpayer. The credit

allowed to a member of the group is a

portion of the group’s credit. Section

1.41–8(d) of the regulation permits a

corporation that is a member of more

than one group to designate which

controlled group they will be aggregated

with for purposes of Code section 41(f).

Current Actions: There is no change to

this existing regulation.

Type of Review: Extension of a

currently approved collection.

Affected Public: Business or other forprofit organizations.

Estimated Number of Respondents:

250.

Estimated Time Per Respondent: 15

hr.

Estimated Total Annual Burden

Hours: 63.

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: November 1, 2000.

Garrick R. Shear,

IRS Reports Clearance Officer.

[FR Doc. 00–29275 Filed 11–15–00; 8:45 am]

BILLING CODE 4830–01–U

DEPARTMENT OF THE TREASURY

Internal Revenue Service

[REG–209835–86]

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, REG–209835–

86 (TD 8708), Computation of Foreign

Taxes Deemed Paid Under Section 902

Pursuant to a Pooling Mechanism for

Undistributed Earnings and Foreign

Taxes (§ 1.902–1).

DATES: Written comments should be

received on or before January 16, 2001

to be assured of consideration.

ADDRESSES: Direct all written comments

to Garrick R. Shear, Internal Revenue

Service, room 5244, 1111 Constitution

Avenue NW., Washington, DC 20224.

FOR FURTHER INFORMATION CONTACT:

Requests for additional information or

copies of the regulation should be

directed to Larnice Mack, (202) 622–

3179, Internal Revenue Service, room

5244, 1111 Constitution Avenue NW.,

Washington, DC 20224.

SUPPLEMENTARY INFORMATION:

Title: Computation of Foreign Taxes

Deemed Paid Under Section 902

Pursuant to a Pooling Mechanism for

Undistributed Earnings and Foreign

Taxes.

OMB Number: 1545–1458.

Regulation Project Number: Reg–

209835–86 (formerly INTL–933–86).

Abstract: This regulation provides

rules for computing foreign taxes

deemed paid under Internal Revenue

Code section 902. The regulation affects

foreign corporations and their United

States corporate shareholders that own

directly at least 10% of the voting stock

of the foreign corporation.

Current Actions: There are no changes

being made to this existing regulation.

Type of Review: Extension of a

currently approved collection.

Affected Public: Business or other forprofit organizations.

The burden for the collection of

information is reflected in the burden

for Form 1118, Foreign Tax CreditCorporations.

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.