55210 Federal Register / Vol. 73, No. 186 / Wednesday, September 24, 2008 / Notices 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

Proposed Collection; Comment 

Request for Form 8621–A 

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 

8621–A, Return by a Shareholder 

Making Certain Late Elections To End 

Treatment as a Passive Foreign 

Investment Company. 

DATES: Written comments should be 

received on or before November 24, 

2008 to be assured of consideration. 

ADDRESSES: Direct all written comments 

to Glenn P. Kirkland, 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 Allan Hopkins, 

(202) 622–6665, at Internal Revenue 

Service, room 6129, 1111 Constitution 

Avenue NW., Washington, DC 20224, or 

through the Internet at 

Allan.M.Hopkins@irs.gov. 

SUPPLEMENTARY INFORMATION: 

Title: Return by a Shareholder Making 

Certain Late Elections To End Treatment 

as a Passive Foreign Investment 

Company. 

OMB Number: 1545–1950. 

Form Number: 8621–A. 

Abstract: Form 8621–A is used by 

certain taxpayer/investors to request 

ending of their treatment as investing in 

a Passive Foreign Investment Company. 

New regulations are being written in 

support of the new products. The 

underlying law is in IRC sections 1297 

and 1298. 

Current Actions: There is no change 

in the paperwork burden previously 

approved by OMB. This form is being 

submitted for renewal purposes only. 

Type of Review: Extension of a 

currently approved collection. 

Affected Public: Individuals and 

households, businesses and other forprofit organizations. 

Estimated Number of Respondents: 

2,000. 

Estimated Time per Respondent: 65 

hours, 24 minutes. 

Estimated Total Annual Burden 

Hours: 43,622. 

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: September 16, 2008. 

Glenn P. Kirkland, 

IRS Reports Clearance Officer. 

[FR Doc. E8–22377 Filed 9–23–08; 8:45 am] 

BILLING CODE 4830–01–P 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

Proposed Collection; Comment 

Request for Notice 99–43 

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 Notice 

99–43, Nonrecognition Exchanges under 

Section 897. 

DATES: Written comments should be 

received on or before November 24, 

2008 to be assured of consideration. 

ADDRESSES: Direct all written comments 

to Glenn P. Kirkland, Internal Revenue 

Service, room 6129, 1111 Constitution 

Avenue, NW., Washington, DC 20224. 

FOR FURTHER INFORMATION CONTACT: 

Requests for additional information or 

copies of this regulation should be 

directed to R. Joseph Durbala, (202) 

622–3634, Internal Revenue Service, 

room 6129, 1111 Constitution Avenue, 

NW., Washington, DC 20224, or through 

the Internet at RJoseph.Durbala@irs.gov. 

SUPPLEMENTARY INFORMATION: 

Title: Nonrecognition Exchanges 

under Section 897. 

OMB Number: 1545–1660. 

Notice Number: Notice 99–43. 

Abstract: Notice 99–43 announces 

modification of the current rules under 

Temporary Regulation section 1.897– 

6T(a)(1) regarding transfers, exchanges 

and other dispositions of U.S. real 

property interests in nonrecognition 

transactions occurring after June 18, 

1980. The notice provides that, contrary 

to section 1.897–6T(a)(1), a foreign 

taxpayer will not recognize a gain under 

Code 897(e) for an exchange described 

in Code section 368(a)(1)(E) or (F), 

provided the taxpayer receives 

substantially identical shares of the 

same domestic corporation with the 

same divided rights, voting power, 

liquidation preferences, and 

convertability as the shares exchanged 

without any additional rights or 

features. 

Current Actions: There are no changes 

being made to the notice at this time. 

Type of Review: Extension of a 

currently approved collection. 

Affected Public: Business or other forprofit organizations, and individuals or 

households. 

Estimated Number of Respondents: 

100. 

Estimated Time per Respondent: 2 

hours. 

Estimated Total Annual Burden 

Hours: 200. 

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 


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