[Federal Register Volume 74, Number 99 (Tuesday, May 26, 2009)]
[Notices]
[Pages 24900-24901]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E9-12130]


-----------------------------------------------------------------------

DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

May 19, 2009.
    The Department of the Treasury will submit the following public 
information collection requirement(s) 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. Copies of the 
submission(s) may be obtained by calling the Treasury Bureau Clearance 
Officer listed. Comments regarding this information collection should 
be addressed to the OMB reviewer listed and to the Treasury Department 
Clearance Officer, Department of the Treasury, Room 11000, 1750 
Pennsylvania Avenue, NW., Washington, DC 20220.

DATES: Written comments should be received on or before June 25, 2009 
to be assured of consideration.

Internal Revenue Service (IRS)

    OMB Number: 1545-1822.
    Type of Review: Extension.
    Title: Revenue Procedure 2003-11, Offshore Voluntary Compliance 
Initiative.
    Description: Revenue Procedure 2003-11 describes the Offshore 
Voluntary Compliance Initiative, which is directed at taxpayers that 
have under-reported their tax liability through financial arrangements 
outside the United States that rely on the use of credit, debit, or 
charge cards (offshore credit cards) or foreign banks, financial 
institutions, corporations, partnership, trusts, or other entities 
(offshore financial arrangements). Taxpayers that participate in the 
initiative and provide the information and material that their 
participation requires can avoid certain penalties.
    Respondents: Individuals or Households.
    Estimated Total Burden Hours: 100,000 hours.
    OMB Number: 1545-1516.
    Type of Review: Extension.
    Form: 8832.
    Title: Entity Classification Election.
    Description: An eligible entity that chooses not to be classified 
under the default rules or that wishes to change its current 
classification must file Form 8832 to elect a classification.
    Respondents: Businesses or other for-profits.
    Estimated Total Burden Hours: 23,200 hours.
    OMB Number: 1545-1434.
    Type of Review: Extension.
    Title: CO-26-96 (Final) Regulations Under Section 382 of the 
Internal Revenue Code of 1986; Application of Section 382 in Short 
Taxable Years and With Respect to Controlled Groups.
    Description: Section 382 limits the amount of income that can be 
offset by loss carryovers after an ownership change. These regulations 
provide rules for applying section 382 in the case of short taxable 
years and with respect to controlled groups.
    Respondents: Businesses or other for-profits.
    Estimated Total Burden Hours: 875 hours.
    OMB Number: 1545-1380.
    Type of Review: Extension.
    Title: IA-17-90 (Final) Reporting Requirements for Recipients of 
Points paid on residential mortgages.
    Description: To encourage compliance with the tax laws relating to 
the mortgage interest deduction, the regulations require the reporting 
on Form 1098 of points paid on residential mortgage. Only businesses 
that receive mortgage interest in the course of a trade or business are 
affected by this reporting requirement.
    Respondents: Businesses or other for-profits.
    Estimated Total Burden Hours: 283,056 hours.
    OMB Number: 1545-1241.
    Type of Review: Extension.
    Title: PS-92-90 (Final) Special Valuation Rules.
    Description: Section 2701 of the Internal Revenue Code allows 
various elections by family members who make gifts of common stock or 
partnership interests and retain senior interest. The elections affect 
the value of the gifted interests and the retained interests.
    Respondents: Individuals or Households.
    Estimated Total Burden Hours: 496 hours.
    OMB Number: 1545-1225.
    Type of Review: Extension.
    Form: 5310-A.
    Title: Notice of Plan Merger or Consolidation, Spinoff, or Transfer 
of Plan Assets or Liabilities; Notice of Qualified Separate Lines of 
Business.
    Description: Plan administrators are required to notify IRS of any 
plan mergers, consolidations, spinoffs, or transfers of plan assets or 
liabilities to another plan. Employers are required to notify IRS of 
separate lines of business for their deferred compensation plans. Form 
5310-A is used to make these notifications.
    Respondents: Businesses or other for-profits.
    Estimated Total Burden Hours: 158,800 hours.
    OMB Number: 1545-1540.
    Type of Review: Extension.
    Title: REG-125071-06 (Final) Reporting Requirements for Widely Held 
Fixed Investment Trusts (TD 9308) (previously TD 9279).
    Description: The regulations clarify the reporting requirements of 
trustees and middlemen involved with widely held fixed investment 
trusts.
    Respondents: Businesses or other for-profits.
    Estimated Total Burden Hours: 2,400 hours.
    OMB Number: 1545-1673.
    Type of Review: Extension.
    Title: Revenue Procedure 2008-50 Employee Plans Compliance 
Resolution System (previously RP 2006-27).
    Description: The information requested in Revenue Procedure 2008-50 
is required to enable the Internal Revenue Service to make 
determinations on the issuance of various types of closing agreements 
and compliance statements. The issuance of the agreements and 
statements allows individual plans to maintain their tax-qualified 
status. As a result, the favorable tax treatment of the benefits of the 
eligible employees is retained.
    Respondents: Businesses or other for-profits.
    Estimated Total Burden Hours: 76,222 hours.
    OMB Number: 1545-1979.
    Type of Review: Extension.
    Form: 8908.
    Title: Energy Efficient New Home Credit.
    Description: Contractors will use Form 8908 to claim the new energy 
efficient home credit for homes substantially completed after August 8, 
2005 and sold for use as personal residences after January 1, 2006.
    Respondents: Businesses or other for-profits.
    Estimated Total Burden Hours: 512,820 hours.
    OMB Number: 1545-1952.
    Type of Review: Extension.
    Title: Automatic Consent for Eligible Educational Institution to 
Change Reporting Methods.
    Description: This revenue procedure prescribes how an eligible 
educational institution may obtain automatic

[[Page 24901]]

consent from the Service to change its method of reporting under 
section 6050S of the Code and the Income Tax Regulations.
    Respondents: Not-for-profit institutions.
    Estimated Total Burden Hours: 300 hours.
    Clearance Officer: R. Joseph Durbala; (202) 622-3634, Internal 
Revenue Service, Room 6516, 1111 Constitution Avenue, NW., Washington, 
DC 20224.
    OMB Reviewer: Shagufta Ahmed; (202) 395-7873, Office of Management 
and Budget, Room 10235, New Executive Office Building, Washington, DC 
20503.

Celina Elphage,
Treasury PRA Clearance Officer.
 [FR Doc. E9-12130 Filed 5-22-09; 8:45 am]
BILLING CODE 4830-01-P