[Federal Register Volume 75, Number 23 (Thursday, February 4, 2010)]
[Notices]
[Pages 5860-5861]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-2369]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Regulation Project

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

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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, REG-120882-97 (TD 8898), Continuity of 
Interest (Sec. Sec.  1.368-1(e)(1)(ii) and 1.368-1(e)(2)(ii)).

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 <a href="/cdn-cgi/l/email-protection#45042929242b6b086b0d2a352e2c2b36052c37366b222a33"><span class="__cf_email__" data-cfemail="51103d3d303f7f1c7f193e213a383f22113823227f363e27">[email protected]</span></a>.

SUPPLEMENTARY INFORMATION:
    Title: Continuity of Interest.
    OMB Number: 1545-1691.
    Regulation Project Number: REG-120882-97.
    Abstract: Taxpayers who entered into a binding agreement on or 
after January 28, 1998 (the effective date of Sec.  1.368-1T), and 
before the effective date of the final regulations under Sec.  1.368-
1(e) may request a private letter ruling permitting them to apply Sec.  
1.368-1(e) to their transaction. A private letter ruling will not be 
issued unless the taxpayer establishes to the satisfaction of the IRS, 
that there is not a significant risk of different parties to the 
transaction taking inconsistent positions, for U.S. tax purposes with 
respect to the applicability of Sec.  1.368-1(e) to the transaction.
    Current Actions: There is no change in the paperwork burden 
previously approved by OMB. This regulation is being submitted for 
renewal purposes only.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Businesses and other for-profit organizations.
    Estimated Number of Respondents: 10.
    Estimated Time per Respondent: 150 hours.
    Estimated Total Annual Burden Hours: 1,500.
    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

[[Page 5861]]

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 4, 2010.
R. Joseph Durbala,
Supervisory Tax Analyst.
[FR Doc. 2010-2369 Filed 2-3-10; 8:45 am]
BILLING CODE 4830-01-P


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