[Federal Register Volume 78, Number 214 (Tuesday, November 5, 2013)]
[Notices]
[Page 66423]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2013-26386]
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
[TD 9057, TD 9154, TD 9187]
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 notice of proposed rulemaking and temporary regulation, REG-
135898-04 (TD 9154), Extension of Time to Elect Method for Determining
Allowable Loss; REG-152524-02 (TD 9057), Guidance Under Section 1502,
Amendment of Waiver of Loss Carryovers from Separate Return Limitation
Years; REG-123305-02, REG-102740-02 (TD 9187), Loss Limitation Rules.
DATES: Written comments should be received on or before January 6, 2014
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 Sara Covington, at
Internal Revenue Service, room 6129, 1111 Constitution Avenue NW.,
Washington, DC 20224, or through the Internet, at
[email protected].
SUPPLEMENTARY INFORMATION:
Title: REG-135898-04 (TD 9154), Extension of Time to Elect Method
for Determining Allowable Loss; REG-152524-02 (TD 9057), Guidance Under
Section 1502, Amendment of Waiver of Loss Carryovers from Separate
Return Limitation Years; REG-123305-02, REG-102740-02 (TD 9187), Loss
Limitation Rules.
OMB Number: 1545-1774.
Regulation Project Number: TD 9057, TD 9154, and TD 9187.
Abstract: The information is necessary to allow the taxpayer to
make certain elections to determine the amount of allowable loss under
Sec. 1.337(d)-2T, Sec. 1.1502-20 as currently in effect or under
Sec. 1.1502-20 as modified; to allow the taxpayer to waive loss
carryovers up to the amount of the Sec. 1.1502-20(g) election; and to
ensure that loss is not disallowed under Sec. 1.337(d)-2T and basis is
not reduced under Sec. 1.337(d)-2T to the extent the taxpayer
establishes that the loss or basis is not attributable to the
recognition of built in gain on the disposition of an asset. With
respect to Sec. 1.1502-20T, the information also is necessary to allow
the common parent of the selling group to reapportion a separate,
subgroup or consolidated section 382 limitation when the acquiring
group amends its Sec. 1.1502-32(b)(4) election. Furthermore, regarding
Sec. 1.1502-32(b)(4), the information also is necessary to allow the
taxpayer that acquired a subsidiary of a consolidated group to amend
its election under Sec. 1.1502-32(b)(4), so that the acquiring group
can use the acquired subsidiary's losses to offset its income. The
information also is necessary to allow the taxpayer to make certain
elections to determine the amount of allowable loss pursuant to a new
due date, and to amend or revoke certain prior elections to determine
the amount of allowable loss.
Current Actions: There is no change to this existing regulation.
Type of Review: Extension of OMB approval.
Affected Public: Business or other for-profit.
Estimated Number of Respondents: 18,360.
Estimated Time per Respondent: 2 hours.
Estimated Total Annual Hours: 36,720.
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 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: October 21, 2013.
Allan Hopkins,
IRS Tax Analyst.
[FR Doc. 2013-26386 Filed 11-4-13; 8:45 am]
BILLING CODE 4830-01-P