30904 Federal Register / Vol. 75, No. 105 / Wednesday, June 2, 2010 / Notices 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

[CO–11–91] (TD 8597); [CO–24–95] (TD8660) 

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, CO–11–91 (TD 8597), 

Consolidated Groups and Controlled 

Groups-Intercompany Transactions and 

Related Rules (§ 1.1502–13), and CO– 

24–95 (TD 8660), Consolidated GroupsIntercompany Transactions and Related 

Rules. 

DATES: Written comments should be 

received on or before August 2, 2010 to 

be assured of consideration. 

ADDRESSES: Direct all written comments 

to Gerald Shields, Room 6129, 1111 

Constitution Avenue, NW., Washington, 

DC 20224. 

FOR FURTHER INFORMATION CONTACT: 

Requests for additional information or 

copies of the regulation 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: CO–11–91, Consolidated Groups 

and Controlled Groups-Intercompany 

Transactions and Related Rules, and 

CO–24–95, Consolidated GroupsIntercompany Transactions and Related 

Rules. 

OMB Number: 1545–1433. 

Regulation Project Number: CO–11– 

91 (TD 8597). CO–24–95 (TD 8660). 

Abstract: The regulations require 

common parents that make elections 

under regulation section 1.1502–13 to 

provide certain information. The 

information will be used to identify and 

assure that the amount, location, timing 

and attributes of intercompany 

transactions and corresponding items 

are properly maintained. 

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: 

2,200. 

Estimated Time per Respondent: 30 

minutes. 

Estimated Total Annual Burden 

Hours: 1,050. 

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: May 25, 2010. 

Gerald Shields, 

IRS Reports Clearance Officer. 

[FR Doc. 2010–13236 Filed 6–1–10; 8:45 am] 

BILLING CODE 4830–01–P 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

[INTL–870–89] 

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 notice of proposed rulemaking, 

INTL–870–89, Earnings Stripping 

(Section 163(j)). 

DATES: Written comments should be 

received on or before August 2, 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 regulations 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: Earnings Stripping (Section 

163(j)). 

OMB Number: 1545–1255. 

Regulation Project Number: INTL– 

870–89. 

Abstract: Internal Revenue Code 

section 163(j) concerns the limitation on 

the deduction for certain interest paid 

by a corporation to a related person. 

This provision generally does not apply 

to an interest expense arising in a 

taxable year in which the payer 

corporation’s debt-equity ratio is 1.5 to 

1 or less. Regulation section § 1.163(j)– 

5(d) provides a special rule for adjusting 

the basis of assets acquired in a 

qualified stock purchase. This rule 

allows the taxpayer, in computing its 

debt-equity ratio, to elect to write off the 

basis of the stock of the acquired 

corporation over a fixed stock write-off 

period, instead of using the adjusted 

basis of the assets of the acquired 

corporation. 

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: 

2,300. 

Estimated Time per Respondent: 31 

minutes. 


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