Federal Register / Vol. 75, No. 95 / Tuesday, May 18, 2010 / Notices 27859 

member need not be a representative or 

a member of the full committee. 

If you have expertise in the subject 

matter and wish to become a member of 

the working group, write to the person 

listed under the caption FOR FURTHER

INFORMATION CONTACT expressing that 

desire. Describe your interest in the task 

and state the expertise you would bring 

to the working group. We must receive 

all requests by May 3, 2010. The 

assistant chair, the assistant executive 

director, and the working group cochairs will review the requests and 

advise you whether or not your request 

is approved. 

If you are chosen for membership on 

the working group, you must represent 

your aviation community segment and 

actively participate in the working 

group by attending all meetings and 

providing written comments when 

requested to do so. You must devote the 

resources necessary to support the 

working group in meeting any assigned 

deadlines. You must keep your 

management chain and those you may 

represent advised of working group 

activities and decisions to ensure that 

the proposed technical solutions do not 

conflict with your sponsoring 

organization’s position when the subject 

being negotiated is presented to ARAC 

for approval. Once the working group 

has begun deliberations, members will 

not be added or substituted without the 

approval of the assistant chair, the 

assistant executive director, and the 

working group co-chairs. 

The Secretary of Transportation 

determined that the formation and use 

of the ARAC is necessary and in the 

public interest in connection with the 

performance of duties imposed on the 

FAA by law. 

Meetings of the ARAC are open to the 

public. Meetings of the Avionics 

Systems Harmonization Working Group 

will not be open to the public, except 

to the extent individuals with an 

interest and expertise are selected to 

participate. The FAA will make no 

public announcement of working group 

meetings. 

Issued in Washington, DC, on May 12, 

2010. 

Pamela Hamilton-Powell, 

Executive Director, Aviation Rulemaking 

Advisory Committee. 

[FR Doc. 2010–11796 Filed 5–17–10; 8:45 am] 

BILLING CODE 4910–13–P 

DEPARTMENT OF THE TREASURY 

Submission for OMB Review; 

Comment Request 

May 12, 2010. 

The Department of the Treasury will 

submit the following public information 

collection requirements to OMB for 

review and clearance under the 

Paperwork Reduction Act of 1995, 

Public Law 104–13 on or after the date 

of publication of this notice. A copy of 

the submissions may be obtained by 

calling the Treasury Bureau Clearance 

Officer listed. Comments regarding 

these information collections should be 

addressed to the OMB reviewer listed 

and to the Treasury PRA Clearance 

Officer, Department of the Treasury, 

1750 Pennsylvania Avenue, NW., Suite 

11010, Washington, DC 20220. 

Dates: Written comments should be 

received on or before June 17, 2010 to 

be assured of consideration. 

Internal Revenue Service 

OMB Number: 1545–0043. 

Type of Review: Extension without 

change of a currently approved 

collection. 

Title: Consent of Shareholder to 

Include Specific Amount in Gross 

Income. 

Form: 972. 

Abstract: Form 972 is filed by 

shareholders of corporations to elect to 

include an amount in gross income as 

a dividend. The IRS uses Form 972 as 

a check to see if an amended return is 

filed to include the amount in income 

and to determine if the corporation 

claimed the correct amount. 

Respondents: Individuals and 

Households. 

Estimated Total Burden Hours: 385 

hours. 

OMB Number: 1545–0145. 

Type of Review: Extension without 

change of a currently approved 

collection. 

Title: Notice to Shareholder of 

Undistributed Long-Term Capital Gains. 

Form: 2439. 

Abstract: Form 2439 is sent by 

regulated investment companies and 

real estate investment trusts to report 

undistributed capital gains and the 

amount of tax paid on these gains 

designated under IRC section 

852(b)(3)(D) or 857(b)(3)(D). The 

company, the trust, and the shareholder 

file copies of Form 2439 with IRS. IRS 

uses the information to check 

shareholder compliance. 

Respondents: Private Sector: 

Businesses or other for-profits. 

Estimated Total Burden Hours: 29,995 

hours. 

OMB Number: 1545–0889. 

Type of Review: Revision of a 

currently approved collection. 

Title: Disclosure Statement (Form 

8275), and Regulation Disclosure 

Statement (Form 8275–R). 

Form(s): 8275, 8275–R. 

Abstract: IRC section 6662 imposes 

accuracy related penalties for 

substantial understatement of tax 

liability or negligence or disregard of 

rules and regulations. Section 6694 

imposes similar penalties on return 

preparers. Regulations section 1.6662– 

4(e) and (f) provide for reduction of 

these penalties if adequate disclosure of 

the tax treatment is made on Form 8275 

or, if the position is contrary to a 

regulation on Form 8275–R. 

Respondents: Private Sector: 

Businesses or other for-profits. 

Estimated Total Burden Hours: 

3,716,664 hours. 

OMB Number: 1545–1459. 

Type of Review: Extension without 

change of a currently approved 

collection. 

Title: Program Sponsor Agreement for 

Continuing Education for Enrolled 

Agents. 

Form: 8498. 

Abstract: This information relates to 

the approval of continuing professional 

education programs for the individuals 

enrolled to practice before the Internal 

Revenue Service (enrolled agents). 

Respondents: Individuals or 

Households. 

Estimated Total Burden Hours: 300 

hours. 

OMB Number: 1545–1556. 

Type of Review: Extension without 

change of a currently approved 

collection. 

Title: REG–251985–96 (TD 8786— 

Final) Source of Income From Sales of 

Inventory Partly From Sources Within a 

Possession of the United States; Also, 

Source of Income Derived From Certain 

Purchases From A. 

Abstract: The information requested 

in section 1.863–3(f) (6) is necessary for 

the Service to audit taxpayers’ return to 

ensure taxpayers are properly 

determining the source of their income. 

Respondents: Private Sector: 

Businesses or other for-profits. 

Estimated Total Burden Hours: 500 

hours. 

OMB Number: 1545–0045. 

Type of Review: Extension without 

change of a currently approved 

collection. 

Title: Claim for Deficiency Dividends 

Deductions by a Personal Holding 

Company, Regulated Investment 

Company, or Real Estate Investment 

Trust. 

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27860 Federal Register / Vol. 75, No. 95 / Tuesday, May 18, 2010 / Notices 

Form: 976. 

Abstract: Form 976 is filed by 

corporations that wish to claim a 

deficiency dividend deduction. The 

deduction allows the corporation to 

eliminate all or a portion of a tax 

deficiency. The IRS uses Form 976 to 

determine if shareholders have included 

amounts in gross income. 

Respondents: Private Sector: 

Businesses or other for-profits. 

Estimated Total Burden Hours: 3,830 

hours. 

OMB Number: 1545–0746. 

Type of Review: Extension without 

change of a currently approved 

collection. 

Title: LR–100–78 (Final) Creditability 

of Foreign Taxes. 

Abstract: The information needed is a 

statement by the taxpayer that it has 

elected to apply the safe harbor formula 

of section 1.901–2A (e) of the foreign tax 

credit regulations. This statement is 

necessary in order that the IRS may 

properly determine the taxpayer’s tax 

liability. 

Respondents: Private Sector: 

Businesses or other for-profits and 

Farms. 

Estimated Total Burden Hours: 37 

hours. 

OMB Number: 1545–1566. 

Type of Review: Revision of a 

currently approved collection. 

Title: Notice 97–66, Certain Payments 

Made Pursuant to a Securities Lending 

Transaction; NOT–152783–09— 

Guidance Regarding Prevention of OverWithholding and U.S. Tax Avoidance 

with Respect to Certain Subst... 

Abstract: Notice 97–66 modifies final 

regulations which are effective 

November 14, 1997. The Notice relaxes 

the statement requirement with respect 

to substitute interest payments relating 

to securities loans and repurchased 

transactions. It also provides a 

withholding mechanism to eliminate 

excessive withholding on multiple 

payments in a chain of substitute 

dividend payments. NOT–152783–09 

modifies Notice 97–66, by providing 

necessary information to ensure 

taxpayers are not subject to excessive 

tax pursuant to IRC section 871(l). The 

information will allow a withholding 

agent to make a substitute dividend 

payment to certain counterparties in a 

series of securities lending transactions 

without withholding and depositing 

additional excessive tax. 

Respondents: Private Sector: 

Businesses or other for-profits. 

Estimated Total Burden Hours: 62,750 

hours. 

OMB Number: 1545–1224. 

Type of Review: Extension without 

change of a currently approved 

collection. 

Title: INTL–112–88 (Final) Allocation 

and Apportionment of Deduction for 

State Income Taxes. 

Abstract: This regulation provides 

guidance on when and how the 

deduction for state income taxes is to be 

allocated and apportioned between 

gross income from sources within and 

without the United States in order to 

determine the amount of taxable income 

from those sources. The reporting 

requirements in the regulation affect 

those taxpayers claiming foreign tax 

credits who elect to use an alternative 

method from that described in the 

regulation to allocate and apportion 

deductions for state income taxes. 

Respondents: Private Sector: 

Businesses or other for-profits. 

Estimated Total Burden Hours: 1,000 

hours. 

OMB Number: 1545–0429. 

Type of Review: Extension without 

change of a currently approved 

collection. 

Title: Request for Copy of Tax Return. 

Form: 4605. 

Abstract: 26 USC 7513 allows for 

taxpayers to request a copy of a tax 

return. Form 4506 is used by a taxpayer 

to request a copy of a Federal tax form. 

The information provided will be used 

for research to locate the tax form and 

to ensure that the requester is the 

taxpayer or someone authorized by the 

taxpayer. 

Respondents: Individuals or 

Households. 

Estimated Total Burden Hours: 

260,000 hours. 

OMB Number: 1545–0755. 

Type of Review: Extension without 

change of a currently approved 

collection. 

Title: LR–58–83 (TD 7959—Final) 

Related Group Election With Respect to 

Qualified Investments in Foreign Base 

Company Shipping Operations. 

Abstract: The election described in 

the attached justification converted an 

annual election to an election effective 

until revoked. The computational 

information required is necessary to 

assure that the U.S. shareholder 

correctly reports any shipping income of 

its controlled foreign corporations 

which is taxable to that shareholder. 

Respondents: Private Sector: 

Businesses or other for-profits. 

Estimated Total Burden Hours: 205 

hours. 

OMB Number: 1545–1316. 

Type of Review: Extension without 

change of a currently approved 

collection. 

Title: Filing Assistance Program (Do 

you have to file a tax return?). 

Form: 9452. 

Abstract: The RUF (Reduce 

Unnecessary Filing) Program was 

initiated in 1992. Each year 

approximately 72% of the taxpayers 

contacted through the RUF Program 

stop filing unnecessary returns. This has 

reduced taxpayer burden and been cost 

effective for the service. This is in 

accord with the Service’s compliance 

and burden reduction initiatives. 

Respondents: Individuals or 

Households. 

Estimated Total Burden Hours: 

825,000 hours. 

OMB Number: 1545–1455. 

Type of Review: Extension without 

change of a currently approved 

collection. 

Title: PS–80–93 (TD 8645—Final) 

Rules for Certain Rental Real Estate 

Activities. 

Abstract: The regulation provides 

rules relating to the treatment of rental 

real estate activities of certain taxpayers 

under the passive activity loss and 

credit limitations on Internal Revenue 

Code section 469. 

Respondents: Individuals or 

Households. 

Estimated Total Burden Hours: 3,015 

hours. 

OMB Number: 1545–1719. 

Type of Review: Extension without 

change of a currently approved 

collection. 

Title: REG–106446–98 (TD 9003— 

Final) Relief From Joint and Several 

Liability. 

Abstract: This document contains 

final regulations relating to relief from 

joint and several liability under section 

6015 of the Internal Revenue Code. The 

regulations reflect changes in the law 

made by the Internal Revenue Service 

Restructuring and Reform Act of 1998 

and by the Community Renewal Tax 

Relief Act of 2000. The regulations 

provide guidance to married individuals 

filing joint returns who seek relief from 

joint and several liability. 

Respondents: Individuals or 

Households. 

Estimated Total Burden Hours: 1 

hour. 

OMB Number: 1545–1452. 

Type of Review: Extension without 

change of a currently approved 

collection. 

Title: FI–43–94 (TD 8649—Final) 

Regulations Under Section 1258 of the 

Internal Revenue Code of 1986; Netting 

Rule for Certain Conversion 

Transactions. 

Abstract: Section 1258 recharacterizes 

capital gains from conversion 

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Federal Register / Vol. 75, No. 95 / Tuesday, May 18, 2010 / Notices 27861 

transactions as ordinary income to the 

extent of the time value element. This 

regulation provides that certain gains 

and losses may be netted for purposes 

of determining the amount of gain 

recharacterized. 

Respondents: Private Sector: 

Businesses or other for-profits. 

Estimated Total Burden Hours: 5,000 

hours. 

OMB Number: 1545–0159. 

Type of Review: Revision of a 

currently approved collection. 

Title: Annual Return To Report 

Transactions With Foreign Trusts and 

Receipts of Certain Foreign Gifts. 

Form: 3520. 

Abstract: Form 3520 is filed by U.S. 

persons who create a foreign trust, 

transfer property to a foreign trust, 

receive a distribution from a foreign 

trust, or receive a large gift from a 

foreign source. IRS uses the form to 

identify the U.S. persons who may have 

transactions that may trigger a taxable 

event in the future. 

Respondents: Private Sector: 

Businesses or other for-profits. 

Estimated Total Burden Hours: 72,059 

hours. 

OMB Number: 1545–1098. 

Type of Review: Extension without 

change of a currently approved 

collection. 

Title: Arbitrage Restrictions on TaxExempt Bonds TD 8418 Final (FI–91- 

86; FI–90–86; FI–90–91; and FI–1–90). 

Abstract: This regulation requires 

state and local governmental issuers of 

tax-exempt bonds to rebate arbitrage 

profits earned on nonpurpose 

investments acquired with the bond 

proceeds. Issuers are required to submit 

a form with the rebate. The regulations 

provide for several elections, all of 

which must be in writing. 

Respondents: State, Local, and Tribal 

governments. 

Estimated Total Burden Hours: 8,550 

hours. 

OMB Number: 1545–1718. 

Type of Review: Extension without 

change of a currently approved 

collection. 

Title: REG–106030–98 (TD 9305— 

final) Source of Income from Certain 

Space and Ocean Activities; Also, 

Source of Communications Income. 

Abstract: This document contains 

final regulations under section 863(d) 

governing the source of income from 

certain space and ocean activities. It 

also contains final regulations under 

section 863(a), (d), and (e) governing the 

source of income from certain 

communications activities. In addition, 

this document contains final regulations 

under section 863(a) and (b), amending 

the regulations in § 1.863–3 to conform 

those regulations to these final 

regulations. The final regulations 

primarily affect persons who derive 

income from activities conducted in 

space, or on or under water not within 

the jurisdiction of a foreign country, 

possession of the United States, or the 

United States (in international water). 

The final regulations also affect persons 

who derive income from transmission of 

communications. 

Respondents: Private Sector: 

Businesses or other for-profits. 

Estimated Total Burden Hours: 1,250 

hours. 

OMB Number: 1545–0117. 

Type of Review: Extension without 

change of a currently approved 

collection. 

Title: Original Issue Discount. 

Form: 1099–OID. 

Abstract: Form 1099–OID is used for 

reporting original issue discount as 

required by section 6049 of the Internal 

Revenue Code. It is used to verify that 

income earned on discount obligations 

is properly reported by the recipient. 

Respondents: Private Sector: 

Businesses or other for-profits. 

Estimated Total Burden Hours: 

1,142,324 hours. 

OMB Number: 1545–1572. 

Type of Review: Extension without 

change of a currently approved 

collection. 

Title: T.D. 8775 (Final) Election Not to 

Apply Look-Back Methods in De 

Minimis Cases (REG–120200–97). 

Abstract: The regulation requires 

taxpayers to attach a notification 

statement to their returns when they 

elect not to apply the look-back method 

to long-term contracts in de minimis 

cases. 

Respondents: Private Sector: 

Businesses or other for-profits. 

Estimated Total Burden Hours: 4,000 

hours. 

OMB Number: 1545–1870. 

Type of Review: Extension without 

change of a currently approved 

collection. 

Title: T.D. 9107 (Final)—Guidance 

Regarding Deduction and Capitalization 

of Expenditures (REG–125638–01). 

Abstract: Final regulations require 

that a taxpayer’s nonaccrual-experience 

method must be self-tested against the 

taxpayer’s experience to determine 

whether the nonaccrual-experience 

method clearly reflects the taxpayer’s 

experience. The information required to 

be retained by taxpayers will constitute 

sufficient documentation for purposes 

of substantiating a deduction. The 

information will be used by the agency 

on audit to determine the taxpayer’s 

entitlement to a deduction. The 

respondents include taxpayers who 

engage in certain transactions involving 

the acquisition of a trade or business or 

an ownership interest in a legal entity. 

Respondents: Private Sector: 

Businesses or other for-profits. 

Estimated Total Burden Hours: 3,000 

hours. 

Bureau Clearance Officer: R. Joseph 

Durbala, Internal Revenue Service, 1111 

Constitution Avenue, NW., Room 6129, 

Washington, DC 20224; (202) 622–3634. 

OMB Reviewer: Shagufta Ahmed, 

Office of Management and Budget, New 

Executive Office Building, Room 10235, 

Washington, DC 20503; (202) 395–7873. 

Celina Elphage, 

Treasury PRA Clearance Officer. 

[FR Doc. 2010–11834 Filed 5–17–10; 8:45 am] 

BILLING CODE 4830–01–P 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

Proposed Collection; Comment 

Request for Form 970 

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 

970, Application To Use LIFO Inventory 

Method. 

DATES: Written comments should be 

received on or before July 19, 2010 to be 

assured of consideration. 

ADDRESSES: Direct all written comments 

to Gerald Shields Internal Revenue 

Service, room 6129, 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 Elaine Christophe, 

(202) 622–3179, or at Internal Revenue 

Service, Room 6129, 1111 Constitution 

Avenue, NW., Washington DC 20224, or 

through the Internet, at 

Elaine.H.Christophe@irs.gov. 

SUPPLEMENTARY INFORMATION: 

Title: Application To Use LIFO 

Inventory Method. 

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