5850 Federal Register / Vol. 75, No. 23 / Thursday, February 4, 2010 / Notices 

Dated: January 26, 2010. 

Sheryl R. Morrow, 

Assistant Commissioner, Payment 

Management. 

[FR Doc. 2010–2077 Filed 2–3–10; 8:45 am] 

BILLING CODE 4810–35–M 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

Proposed Collection; Comment 

Request for REG–166012–02 

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 REG– 

166012–02, Notional Principal 

Contracts; Contingent Nonperiodic 

Payments. 

DATES: Written comments should be 

received on or before April 5, 2010 to 

be assured of consideration. 

ADDRESSES: Direct all written comments 

to R. Joseph Durbala, 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: Notional Principal Contracts; 

Contingent Nonperiodic Payments. 

OMB Number: 1545–1876. 

Form Number: REG–166012–02. 

Abstract: The collection of 

information in the proposed regulations 

is in § 1.446–3(g)(6)(vii) of the Income 

Tax Regulations, requiring Taxpayers to 

maintain in their books and records a 

description of the method used to 

determine the projected amount of a 

contingent payment, the projected 

payment schedules, and the adjustments 

taken into account under the proposed 

regulations. The information is required 

by the IRS to verify compliance with 

section 446 of the Internal Revenue 

Code and the method of accounting 

described in § 1.446–3(g)(6). This 

information will be used to determine 

whether the amount of tax has been 

calculated correctly. The collection of 

information is required to properly 

determine the amount of income or 

deduction to be taken into account. The 

respondents are sophisticated investors 

that enter into notional principal 

contracts with contingent nonperiodic 

payments. 

Current Actions: There is no change 

in the paperwork burden previously 

approved by OMB. This 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: 

4,250. 

Estimated Time per Respondent: 6 

hours. 

Estimated Total Annual Burden 

Hours: 25,500. 

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: January 7, 2010. 

R. Joseph Durbala, 

Supervisory Tax Analyst. 

[FR Doc. 2010–2321 Filed 2–3–10; 8:45 am] 

BILLING CODE 4830–01–P 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

Proposed Collection; Comment 

Request for Notice 2006–97 

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 

2006–97, Taxation and Reporting of 

REIT Excess Inclusion Income. 2006–97, 

Taxation and Reporting of REIT Excess 

Inclusion Income. 

DATES: Written comments should be 

received on or before April 5, 2010 to 

be assured of consideration. 

ADDRESSES: Direct all written comments 

to R. Joe Durbala, 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 at Internal 

Revenue Service, Room 6129, 1111 

Constitution Avenue, NW., Washington, 

DC 20224, or at (202) 622–3179, or 

through the internet at 

(Elaine.H.Christophe@irs.gov). 

SUPPLEMENTARY INFORMATION: 

Title: Notice 2006–97 Taxation and 

Reporting of REIT Excess Inclusion 

Income. 

OMB Number: 1545–2036. 

Abstract: This notice requires certain 

REITs, partnerships and other entities 

that have excess inclusion income to 

disclose the amount and character of 

such income allocable to their record 

interest owners. The record interest 

owners need the information to properly 

report and pay taxes on such income. 

Current Actions: There are no changes 

being made to the notice at this time. 

Type of Review: Extension of a 

currently approved collection. 


srobinson on DSKHWCL6B1PROD with NOTICES