[Federal Register Volume 74, Number 122 (Friday, June 26, 2009)]
[Notices]
[Pages 30677-30679]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E9-15030]


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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

June 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, and 1750 
Pennsylvania Avenue, NW., Washington, DC 20220.

DATES: Written comments should be received on or before July 27, 2009 
to be assured of consideration.

Internal Revenue Service (IRS)

    OMB Number: 1545-1347.
    Type of Review: Extension.
    Title: FI-7-94 and FI-36-92 (Final) Arbitrage Restrictions on Tax-
Exempt Bonds.
    Description: The Code limits the ability of State and local 
government issuers of tax-exempt bonds to earn and/or keep arbitrage 
profits earned with bond proceeds. This regulation requires 
recordkeeping of certain interest rate hedges so that the hedges are 
taken into account in determining those profits.
    Respondents: State, Local, and Tribal Governments.
    Estimated Total Burden Hours: 42,050 hours.

    OMB Number: 1545-1815.
    Type of Review: Extension.
    Form: 5498-ESA.
    Title: Coverdell ESA Contribution Information.
    Description: Form 5498-ESA is used by trustees and issuers of 
Coverdell Education Savings accounts to report contributions made to 
these accounts to beneficiaries.
    Respondents: Businesses or other for-profits.
    Estimated Total Burden Hours: 18,000 hours.

    OMB Number: 1545-0169.
    Type of Review: Extension.
    Form: 4461, 4461-A, 4461-B.
    Title: Form 4461, Application for Approval of Master or Prototype 
Defined Contribution Plan; Form 4461-A, Application for Approval of 
Master or Prototype Defined Benefit Plan; Form 4461-B.
    Description: The IRS uses these forms to determine from the 
information submitted whether the applicant plan qualifies under 
section 401(a) of the Internal Revenue Code for plan approval. The 
application is also used to determine if the related trust qualifies 
for tax exempt status under Code section 501(a).
    Respondents: Businesses or other for-profits.
    Estimated Total Burden Hours: 109,125 hours.

    OMB Number: 1545-0919.
    Type of Review: Extension.
    Title: Limitations on Percentage Depletion in the Case of Oil and 
Gas Wells (PS-105-75) Final.
    Description: The regulations require each partner to separately 
keep records of his share of the adjusted basis of partnership oil and 
gas property and require each partnership, trusts, estate, and operator 
to provide information necessary to certain persons to compute 
depletion with respect to oil and gas.
    Respondents: Businesses or other for-profits.
    Estimated Total Burden Hours: 1 hour.

    OMB Number: 1545-0202.
    Type of Review: Extension.
    Form: 5310, 6088.
    Title: Form 5310, Application for Determination for Terminating 
Plan; Form 6088, Distributable Benefits from Employee Pension Benefit 
Plans.
    Description: Employers who have qualified deferred compensation 
plans can take an income tax deduction for contributions to their 
plans. IRS uses the data on Forms 5310 and 6088 to determine whether a 
plan still qualifies and whether there is any discrimination in 
benefits.
    Respondents: Businesses or other for-profits.
    Estimated Total Burden Hours: 1,813,650 hours.

    OMB Number: 1545-1233.
    Type of Review: Extension.
    Title: Adjusted Current Earnings (IA-14-91)(Final).
    Description: This regulation affects business and other for profit 
institutions. This information is required by the IRS to ensure the 
proper application of section 1.56(g)-1 of the regulation. It will be 
used to verify that taxpayers have properly elected the benefits of 
section 1.56(g)-1(r) of the regulation.
    Respondents: Businesses or other for-profits.
    Estimated Total Burden Hours: 1,000 hours.

    OMB Number: 1545-1120.
    Type of Review: Extension.
    Title: CO-69-87 and CO-68-87 (Final) Final Regulations Under

[[Page 30678]]

Sections 382 and 383 of the Internal Revenue Code of 1986; Pre-change 
Attributes; CO-18-90 (Final) Final Regulations Under Section 382.
    Description: (CO-69-87 and CO-68-87) These regulations require 
reporting by a corporation after it undergoes an ``ownership change'' 
under sections 382 and 383. Corporations required to report under these 
regulations include those with capital loss carryovers and excess 
credits. (CO-18-90) These regulations provide rules for the treatment 
of options under IRC section 382 for purposes of determining whether a 
corporation undergoes an ownership change. The regulation allows for 
certain elections for corporations whose stock is subject to options.
    Respondents: Businesses or other for-profits.
    Estimated Total Burden Hours: 220,575 hours.

    OMB Number: 1545-1678.
    Type of Review: Extension.
    Title: REG-161424-01 (Final), Information Reporting for Qualified 
Tuition and Related Expenses; Magnetic Media Filing Requirements for 
Information Returns; REC-105316-98 (Final) Information.
    Description: These regulations relate to the information reporting 
requirements in section 6050S of the Internal Revenue Code for payments 
of qualified tuition and related expenses and interest on qualified 
education loans. These regulations provide guidance to eligible 
education institutions, insurers, and payees required to file 
information returns and to furnish information statements under section 
6050S.
    Respondents: Not-for-profit institutions.
    Estimated Total Burden Hours: 1 hour.

    OMB Number: 1545-1843.
    Type of Review: Extension.
    Title: REG-106736-00 (NPRM) Assumptions of Partner Liabilities.
    Description: In order to be entitled to a deduction with respect to 
the economic performance of a contingent liability that was contributed 
by a partner and assumed by a partnership, the partner, or former 
partner of the partnership, must receive notification of economic 
performance of the contingent liability from the partnership or other 
partner assuming the liability.
    Respondents: Businesses or other for-profits.
    Estimated Total Burden Hours: 125 hours.

    OMB Number: 1545-1431.
    Type of Review: Extension.
    Title: Substantiation Requirement for Certain Contributions IA-74-
93 (Final).
    Description: These regulations provide that, for purposes of 
substantiation for certain charitable contributions, consideration does 
not include de minims goods or services. It also provides guidance on 
how taxpayers may satisfy the substantiation requirement for 
contributions of $250 or more.
    Respondents: Businesses or other for-profits.
    Estimated Total Burden Hours: 51,500 hours.

    OMB Number: 1545-1531.
    Type of Review: Extension.
    Title: Notice 97-19 and Notice 98-34 Guidance for Expatriates under 
Sections 877, 2501, 2107, and 6039F.
    Description: Notice 97-19 and Notice 98-34 provide guidance for 
individuals affected by amendments to Code sections 877, 2107, and 
2501, as amended by the Health Insurance Portability and Accountability 
Act. These notices also provide guidance on Code section 6039F.
    Respondents: Individuals or Households.
    Estimated Total Burden Hours: 6,525 hours.

    OMB Number: 1545-1667.
    Type of Review: Extension.
    Title: Revenue Procedure 99-50 Combined Information Reporting.
    Description: The revenue procedure permits combined information 
reporting by a successor ``business entity'' (i.e., a corporation, 
partnership, or sole proprietorship) in certain situations following a 
merger or an acquisition. The successor must file a statement with the 
Internal Revenue Service indicating what forms are being filed on a 
combined basis.
    Respondents: Businesses or other for-profits.
    Estimated Total Burden Hours: 500 hours.

    OMB Number: 1545-1510.
    Type of Review: Extension.
    Title: Revenue Procedure 96-60, Procedure for Filing Forms W-2 is 
Certain Acquisitions.
    Description: Information is required by the Internal Revenue 
Service to assist predecessor and successor employers in complying with 
the reporting requirements under Code sections 6051 and 6011 for Forms 
W-2 and 941.
    Respondents: Businesses or other for-profits.
    Estimated Total Burden Hours: 110,700 hours.

    OMB Number: 1545-1533.
    Type of Review: Extension.
    Title: Revenue Procedure 97-22 26 CFR 601.105 Examination of 
returns and claims for refund, credits, or abatement, determination of 
correct tax liability.
    Description: The information requested in Revenue Procedure 97-22 
under sections 4 and 5 is required to ensure that records maintained in 
an electronic storage system will constitute records within the meaning 
of section 6001.
    Respondents: Businesses or other for-profits.
    Estimated Total Burden Hours: 1,000,400 hours.

    OMB Number: 1545-1978.
    Type of Review: Extension.
    Form: 5884-A.
    Title: Credits for Affected Midwestern Disaster Area Employers.
    Description: Qualified employers will file Form 5884-A to claim a 
credit for wages paid to employees kept on the payroll for the period 
the business is rendered inoperable as a result of damages inflicted by 
Hurricane Katrina.
    Respondents: Businesses or other for-profits.
    Estimated Total Burden Hours: 760,000 hours.

    OMB Number: 1545-1684.
    Type of Review: Revision.
    Title: Revenue Procedure 2009-14, Prefiling Agreements Program 
(Superseded 2007-17).
    Description: Revenue Procedure 2009-14 permits a taxpayer under the 
jurisdiction of the Large and Mid-Size Business Division to request 
that the Service examines specific issues relating to tax returns 
before those returns are filed. This revenue procedure provides the 
framework within.
    Respondents: Businesses or other for-profits.
    Estimated Total Burden Hours: 13,134 hours.

    OMB Number: 1545-1412.
    Type of Review: Extension.
    Title: FI-54-93 (Final) Clear Reflection of Income in the Case of 
Hedging Transactions.
    Description: This information is required by the Internal Revenue 
Service to verify compliance with section 446 of the Internal Revenue 
Code. This information will be used to determine that the amount of tax 
has been computed correctly.
    Respondents: Businesses or other for-profits.
    Estimated Total Burden Hours: 22,000 hours.

    OMB Number: 1545-1503.
    Type of Review: Extension.
    Title: Revenue Procedure 96-53, Section 482--Allocations Between 
Related Parties.
    Description: The information requested in sections 4.02, 5, 8.02, 
9, 11.01, 11.02(1), 11.04, 11.07 and 11.08 is required to enable the 
Internal

[[Page 30679]]

Revenue Service to give advice on filing Advance Pricing Agreement 
applications, to process such applications and negotiate agreements, 
and to verify compliance with agreements and whether agreements require 
modification.
    Respondents: Businesses or other for-profits.
    Estimated Total Burden Hours: 8,200 hours.

    OMB Number: 1545-1530.
    Type of Review: Extension.
    Title: Tip Rate Determination Agreement (Gaming Industry); Gaming 
Industry Tip Compliance Agreement Program.
    Description: Tip Rate Determination Agreement (Gaming Industry) 
Information is required by the Internal Revenue Service in its 
Compliance efforts to assist employers and their employees in 
understanding and complying with section 6053(a), which requires 
employees to report all their tips monthly to their employers. Gaming 
Industry Tip Compliance Agreement Program Taxpayers who operate gaming 
establishments may enter into an agreement with the Internal Revenue 
Service to establish tip rates and occupational categories for all 
tipped employees of the taxpayer. The agreements will require 
substantiation of the tip rates as well.
    Respondents: Businesses or other for-profits.
    Estimated Total Burden Hours: 10,467 hours.

    OMB Number: 1545-1617.
    Type of Review: Extension.
    Title: REG-124069-02 (Final) Section 6038--Returns Required with 
Respect to Controlled Foreign Partnerships; REG-118966-97 (Final) 
Information Reporting with Respect to Certain Foreign Partnership.
    Description: REG-124069-02 Treasury Regulation Sec. 1.6038-3 
requires certain United States persons who own interests in controlled 
foreign partnership to annually report information to the IRS on Form 
8865. This regulation amends the reporting rules under Treasury 
Regulation section 1.6038-e to provide that a U.S. person must follow 
the filing requirements that are specified in the instructions for Form 
8865 when the U.S. person must file Form 8865 and the foreign 
partnership completes and files Form 1065 or Form 1065-B. REG-118966-97 
Section 6038 requires certain U.S. persons who own interest in 
controlled foreign partnerships.
    Respondents: Businesses or other for-profits.
    Estimated Total Burden Hours: 500 hours.

    OMB Number: 1545-1676.
    Type of Review: Extension.
    Title: REG-113572-99 (Final) Qualified Transportation Fringe 
Benefits.
    Description: These regulations provide guidance to employers that 
provide qualified transportation fringe benefits under section 132(f), 
including guidance to employers that provide cash reimbursement for 
qualified transportation fringes and employers that offer qualified 
transportation fringes in lieu of compensation. Employers that provide 
cash reimbursement are required to keep records of documentation 
received from employees who receive reimbursement. Employers that offer 
qualified transportation fringes in lieu of compensation are required 
to keep records of employee compensation reduction elections.
    Respondents: Businesses or other for-profits.
    Estimated Total Burden Hours: 12,968,728 hours.

    OMB Number: 1545-1810.
    Type of Review: Extension.
    Title: Credit for Small Employer Pension Plan Startup Costs.
    Description: Qualified small employers use Form 8881 to request a 
credit for start up costs related to eligible retirement plans. Form 
8881 implements section 45E, which provides a credit based on costs 
incurred by an employer in establishing or administering an eligible 
employer plan or for the retirement related education of employees with 
respect to the plan. The credit is 50% of the qualified costs for the 
tax year, up to a maximum credit of $500 for the first tax year and 
each of the two subsequent tax years.
    Respondents: Businesses or other for-profits.
    Estimated Total Burden Hours: 235,335 hours.

    OMB Number: 1545-1824.
    Type of Review: Extension.
    Title: REG-139768-02 (Final) Excise Tax Relating to Structured 
Settlement Factoring Transactions.
    Description: The regulations provide rules relating to the manner 
and method of reporting and paying the 40 percent excise tax imposed by 
section 5891 of the Internal Revenue Code with respect to acquiring of 
structured payment rights.
    Respondents: Businesses or other for-profits.
    Estimated Total Burden Hours: 2 hours.

    OMB Number: 1545-1968.
    Type of Review: Extension.
    Form: 8902.
    Title: Alternative Tax on Qualifying Shipping Activities.
    Description: Form 8902 is used to elect the alternative tax on 
notional income from qualifying shipping activities and to figure the 
alternative tax.
    Respondents: Businesses or other for-profits.
    Estimated Total Burden Hours: 3,056 hours.

    OMB Number: 1545-1980.
    Type of Review: Extension.
    Title: Notice 2006-01, Charitable Contributions of Certain Motor 
Vehicles, Boats, and Airplanes. Reporting requirements under Sec. 
170(f)(12)(D).
    Description: Charitable organizations are required to send an 
acknowledgement of car donations to the donor and to the Service. The 
purpose of is to prevent donors from taking inappropriate deductions.
    Respondents: Not-for-profit institutions.
    Estimated Total Burden Hours: 21,500 hours.

    OMB Number: 1545-2131.
    Type of Review: Extension.
    Form: 1127.
    Title: Form 1127--Application for Extension of Time for Payment of 
Tax
    Description: Under IRC 6161, individual taxpayers and business 
taxpayers are allowed to request an extension of time for payment of 
tax shown or required to be shown on a return or for a tax due on a 
notice of deficiency. In order to be granted this extension, they must 
file Form 1127, providing evidence of undue hardship, inability to 
borrow, and collateral to ensure payment of the tax.
    Respondents: Businesses or other for-profits.
    Estimated Total Burden Hours: 7,960 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. E9-15030 Filed 6-25-09; 8:45 am]
BILLING CODE 4830-01-P