[Federal Register Volume 77, Number 180 (Monday, September 17, 2012)]
[Notices]
[Pages 57189-57190]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2012-22832]
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DEPARTMENT OF THE TREASURY
Submission for OMB Review; Comment Request
September 12, 2012
The Department of the Treasury will submit the following
information collection request to the Office of Management and Budget
(OMB) for review and clearance in accordance with the Paperwork
Reduction Act of 1995, Public Law 104-13, on or after the date of
publication of this notice.
DATES: Comments should be received on or before October 17, 2012 to be
assured of consideration.
ADDRESSES: Send comments regarding the burden estimate, or any other
aspect of the information collection, including suggestion for reducing
the burden, to (1) Office of Information and Regulatory Affairs, Office
of Management and Budget, Attention: Desk Officer for Treasury, New
Executive Office Building, Room 10235, Washington, DC 20503, or email
at [email protected] and (2) Treasury PRA Clearance Officer,
1750 Pennsylvania Ave. NW., Suite 8140, Washington, DC 20220, or email
at [email protected].
FOR FURTHER INFORMATION CONTACT: Copies of the submission(s) may be
obtained by calling (202) 927-5331, email at [email protected], or the
entire information collection request maybe found at www.reginfo.gov.
Internal Revenue Service (IRS)
OMB Number: 1545-0190.
Type of Review: Extension without change of a currently approved
collection.
Title: Election to be treated as an Interest Charge DISC.
Form: 4876-A.
Abstract: A domestic corporation and its shareholders must elect to
be an interest charge domestic international sales corporation (IC-
DISC). Form 4876-A is used to make the election. IRS uses the
information to determine if the corporation qualifies to be an IC-DISC.
Affected Public: Private Sector: Business or other for-profits.
Estimated Total Burden Hours: 6,360.
OMB Number: 1545-0973.
Type of Review: Extension without change of a currently approved
collection.
Title: Geographic Availability Statement.
Form: 8569.
Abstract: The data collected from this form is used by the
executive panels responsible for screening internal and external
applicants for the SES Candidate Development Program, and other
executive position.
Affected Public: Individuals or Households.
Estimated Total Burden Hours: 84.
OMB Number: 1545-1251.
Type of Review: Extension without change of a currently approved
collection.
Title: TD 8437 (PS-5-91) Limitations on Percentage Depletion in the
Case of Oil and Gas Wells (Final).
Abstract: Section 1.613A-3(e)(6)(i) of the regulations requires
each partner to separately keep records of the partner's share of the
adjusted basis of partnership oil and gas property.
Affected Public: Private Sector: Business or other for-profits.
Estimated Total Burden Hours: 49,950.
OMB Number: 1545-1344.
Type of Review: Extension without change of a currently approved
collection.
Title: TD 8560 (CO-30-92) Consolidated Returns--Stock Basis and
Excess Loss Accounts, Earnings and Profits, Absorption of Deductions
and Losses, Joining and Leaving Consolidated Groups, Worthless (Final).
Abstract: The reporting requirements affect consolidated taxpayers
who will be making elections (if made) to treat certain loss carryovers
as expiring and an election (if made) allocating items between returns.
The information will facilitate enforcement of consolidated return
regulations.
Affected Public: Private Sector: Business or other for-profits.
Estimated Total Burden Hours: 18,600.
OMB Number: 1545-1499.
Type of Review: Extension without change of a currently approved
collection.
Title: Revenue Procedure 2006-10, Acceptance Agents.
Abstract: Revenue Procedure 2006-10 describes application
procedures for becoming an acceptance agent and the requisite agreement
that an agent must execute with IRS.
Affected Public: Private Sector: Business or other for-profits.
Estimated Total Burden Hours: 24,960.
OMB Number: 1545-1541.
Type of Review: Extension without change of a currently approved
collection.
Title: Revenue Procedure 97-27, Changes in Methods of Accounting.
Abstract: The information requested in sections 6, 8, and 13 of
Revenue Procedure 97-27 is required in order for the Commissioner to
determine whether the taxpayer is properly requesting to change its
method of accounting and the terms and condition of that change.
Affected Public: Private Sector: Business or other for-profits.
Estimated Total Burden Hours: 9,083.
OMB Number: 1545-1828.
Type of Review: Extension without change of a currently approved
collection.
[[Page 57190]]
Title: REG-131478-02 (TD 9048; 9254) Guidance under Section 1502;
Suspension of Losses on Certain Stock Disposition.
Abstract: The information in Sec. 1.1502-35(c) is necessary to
ensure that a consolidated group does not obtain more than one tax
benefit from both the utilization of a loss from the disposition of
stock and the utilization of a loss or deduction with respect to
another asset that reflects the same economic loss; to allow the
taxpayer to make an election under Sec. 1.1502-35(c)(5) that would
benefit the taxpayer, the election in Sec. 1.1502-35(f) provides
taxpayers the choice in the case of a worthless subsidiary to utilize a
worthless stock deduction or absorb the subsidiary's losses; and Sec.
1.1502-35(g)(3) applies to ensure that taxpayers do not circumvent the
loss suspension rule of Sec. 1.1502-35(c) by deconsolidating a
subsidiary and then re-importing to the group losses of such
subsidiary.
Affected Public: Private Sector: Business or other for-profits.
Estimated Total Burden Hours: 15,000.
OMB Number: 1545-1990.
Type of Review: Extension without change of a currently approved
collection.
Title: Application of Section 338 to Insurance Companies.
Abstract: These regulations will allow companies to retroactively
apply the regulations to transactions completed prior to the effective
data and to stop an election to use a historic loss payment pattern.
Affected Public: Private Sector: Business or other for-profits.
Estimated Total Burden Hours: 12.
Robert Dahl,
Treasury PRA Clearance Officer.
[FR Doc. 2012-22832 Filed 9-14-12; 8:45 am]
BILLING CODE 4830-01-P