[Federal Register Volume 63, Number 155 (Wednesday, August 12, 1998)]
[Notices]
[Page 43232]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-21557]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service
[PS-4-89]


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, Pub. L. 104-13 (44 U.S.C. 
3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning an 
existing final regulation, PS-4-89 (TD 8580), Disposition of an 
Interest in a Nuclear Power Plant (Sec. 1.468A-3).

DATES: Written comments should be received on or before October 13, 
1998 to be assured of consideration.

ADDRESSES: Direct all written comments to Garrick R. Shear, Internal 
Revenue Service, room 5571, 1111 Constitution Avenue NW., Washington, 
DC 20224.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the regulation should be directed to Carol Savage, (202) 622-
3945, Internal Revenue Service, room 5569, 1111 Constitution Avenue 
NW., Washington, DC 20224.

SUPPLEMENTARY INFORMATION:
    Title: Disposition of an Interest in a Nuclear Power Plant.
    OMB Number: 1545-1378.
    Regulation Project Number: PS-4-89.
    Abstract: This regulation relates to certain Federal income tax 
consequences of a disposition of an interest in a nuclear power plant 
by a taxpayer that has maintained a nuclear decommissioning fund with 
respect to that plant. The regulation affects taxpayers that transfer 
or acquire interests in nuclear power plants by providing guidance on 
the tax consequences of these transfers. In addition, the regulation 
extends the benefits of Internal Revenue Code section 468A to electing 
taxpayers with an interest in a nuclear power plant under the 
jurisdiction of the Rural Electrification Administration.
    Current Actions: There is no change to this existing regulation.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents: 52.
    Estimated Time Per Respondent: 2 hours, 24 minutes.
    Estimated Total Annual Burden Hours: 125.
    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 3 
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: August 5, 1998.
Garrick R. Shear,
IRS Reports Clearance Officer.
[FR Doc. 98-21557 Filed 8-11-98; 8:45 am]
BILLING CODE 4830-01-P