[Federal Register Volume 64, Number 40 (Tuesday, March 2, 1999)]
[Notices]
[Page 10178]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-5124]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service
[REG-209793-95]


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 final regulation, REG-209793-95 (TD 8697), Simplification of 
Entity Classification Rules (sec. 301.7701-3).

DATES: Written comments should be received on or before May 3, 1999 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 this regulation should be directed to Faye Bruce, (202) 622-
6665, Internal Revenue Service, room 5577, 1111 Constitution Avenue 
NW., Washington, DC 20224.

SUPPLEMENTARY INFORMATION:
    Title: Simplification of Entity Classification Rules.
    OMB Number: 1545-1486.
    Regulation Project Number: REG-209793-95.
    Abstract: This regulation provides rules to allow certain 
unincorporated business organizations to elect to be treated as 
corporations or partnerships for federal tax purposes. The election is 
made by filing Form 8832, Entity Classification Election. The 
information collected on the election will be used to verify the 
classification of electing organizations.
    Current Actions: There is no change to this existing regulation.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Businesses or other for-profit organizations, and 
state, local or tribal governments.
    The burden for the collection of information in this regulation is 
reflected in the burden estimates of Form 8832.
    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: February 19, 1999.
Garrick R. Shear,
IRS Reports Clearance Officer.
[FR Doc. 99-5124 Filed 3-1-99; 8:45 am]
BILLING CODE 4830-01-U