Federal Register / Vol. 63, No. 122 /Thursday, June 25, 1998 / Notices 34683

5569, 1111 Constitution Avenue NW.,

Washington, DC 20224.

SUPPLEMENTARY INFORMATION:

Title: Certain Elections Under the

Technical and Miscellaneous Revenue

Act of 1988 and the Redesignation of

Certain Other Temporary Elections

Regulations.

OMB Number: 1545–1112.

Regulation Project Number: IA–96–

88.

Abstract: Regulation section

301.9100–8, formerly section 5h.6,

provides final income, estate and gift,

and employment tax regulations relating

to elections made under the Technical

and Miscellaneous Revenue Act of 1988.

This regulation enables taxpayers to

take advantage of various benefits

provided by the Internal Revenue Code.

Current Actions: There is no change to

this existing regulation.

Type of Review: Extension of a

currently approved collection.

Affected Public: Individuals or

households, business or other for-profit

organizations, not-for-profit institutions,

farms, and state, local, or tribal

governments.

Estimated Number of Respondents:

24,305.

Estimated Time Per Respondent: 17

minutes.

Estimated Total Annual Burden

Hours: 6,712.

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: June 17, 1998.

Garrick R. Shear,

IRS Reports Clearance Officer.

[FR Doc. 98–16844 Filed 6–24–98; 8:45 am]

BILLING CODE 4830–01–P

DEPARTMENT OF THE TREASURY

Internal Revenue Service

[INTL–399–88]

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 an

existing final regulation, INTL–399–88

(TD 8434), Treatment of Dual

Consolidated Losses (§ 1.1503–2).

DATES: Written comments should be

received on or before August 24, 1998

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 regulation 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: Treatment of Dual Consolidated

Losses.

OMB Number: 1545–1083.

Regulation Project Number: INTL–

399–88.

Abstract: Internal Revenue Code

section 1503(d) denies use of the losses

of one domestic corporation by another

affiliated domestic corporation where

the loss corporation is also subject to the

income tax of another country. This

regulation allows an affiliate to make

use of the loss if the loss has not been

used in the foreign country and if an

agreement is attached to the income tax

return of the dual resident corporation

or group, to take the loss into income

upon future use of the loss in the foreign

country. The regulation also requires

separate accounting for a dual

consolidated loss where the dual

resident corporation files a consolidated

return.

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:

500.

Estimated Time Per Respondent: 2 hr.,

23 min.

Estimated Total Annual Burden

Hours: 1,195.

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: June 17, 1998.

Garrick R. Shear,

IRS Reports Clearance Officer.

[FR Doc. 98–16846 Filed 6–24–98; 8:45 am]

BILLING CODE 4830–01–U