[Federal Register Volume 78, Number 71 (Friday, April 12, 2013)]
[Notices]
[Page 22038]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2013-08554]
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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
proceeds of bonds used for reimbursement (Sec. 1.150-2(e) (originally
contained in Sec. 1.104-18(c)).
DATES: Written comments should be received on or before June 11, 2013
to be assured of consideration.
ADDRESSES: Direct all written comments to Yvette Lawrence, Internal
Revenue Service, room 6129, 1111 Constitution Avenue NW., Washington,
DC 20224.
FOR FURTHER INFORMATION CONTACT: Requests for additional information or
copies of the regulation should be directed to Katherine Dean, at (202)
622-3186, or at Internal Revenue Service, room 6242, 1111 Constitution
Avenue NW., Washington, DC 20224, or through the Internet, at
[email protected].
SUPPLEMENTARY INFORMATION:
Title: Proceeds of Bonds Used for Reimbursement.
OMB Number: 1545-1226.
Regulation Project Number: FI-59-89.
Abstract: This regulation clarifies when the allocation of bond
proceeds to reimburse expenditures previously made by an issuer of the
bond is treated as an expenditure of the bond proceeds. The issuer must
express a reasonable official intent, on or prior to the date of
payment, to reimburse the expenditure in order to assure that the
reimbursement is not a device to evade requirements imposed by the
Internal Revenue Code with respect to tax exempt bonds.
Current Actions: There is no change to this existing regulation.
Type of Review: Extension of a currently approved collection.
Affected Public: State, local or tribal governments, and not-for-
profit institutions.
Estimated Number of Respondents: 2,500.
Estimated Time per Respondent: 2 hours, 24 minutes.
Estimated Total Annual Burden Hours: 6,000.
The following paragraph applies to all of the collections of
1information 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: March 14, 2013.
Yvette Lawrence,
OMB Reports Clearance Officer.
[FR Doc. 2013-08554 Filed 4-11-13; 8:45 am]
BILLING CODE 4830-01-P