[Federal Register Volume 65, Number 35 (Tuesday, February 22, 2000)]
[Notices]
[Pages 8762-8763]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 00-4033]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

[INTL-372-88; INTL-401-88]


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 
existing final regulations, INTL-372-88 (TD 8632), Section 482 Cost 
Sharing Regulations (Sec. 1.482-7); INTL-401-88 (TD 8552), Intercompany 
Transfer Pricing Regulations Under Section 482 (Secs. 1.482-1, 1.482-
4).

DATES: Written comments should be received on or before April 24, 2000, 
to be assured of consideration.

ADDRESSES: Direct all written comments to Garrick R. Shear, Internal 
Revenue Service, room 5244, 1111 Constitution Avenue NW., Washington, 
DC 20224.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of these regulations should be directed to Faye Bruce, (202) 
622-6665, Internal Revenue Service, room 5244, 1111 Constitution Avenue 
NW., Washington, DC 20224.

SUPPLEMENTARY INFORMATION:
    Title: (INTL-372-88) Section 482 Cost Sharing Regulations; (INTL-
401-88) Intercompany Transfer Pricing Regulations Under Section 482.
    OMB Number: 1545-1364.
    Regulation Project Number: INTL-372-88; INTL-401-88.
    Abstract: The information collections in INTL-372-88 are necessary 
to

[[Page 8763]]

determine whether an entity is an eligible participant of a qualified 
cost sharing arrangement and whether each eligible participant is 
sharing the costs and benefits of intangible development on an arm's 
length basis. INTL-401-88 relates to the pricing of transfers of 
tangible property, intangible property, or services between related 
parties to ensure that taxpayers clearly reflect income and to prevent 
the avoidance of taxes with respect to such transactions.
    Current Actions: There is no change to these existing regulations.
    Type of Review: Extension of OMB approval.
    Affected Public: Businesses or other for-profit organizations.
    Estimated Number of Respondents: 1,000.
    Estimated Time Per Respondent: 7 hrs., 51 minutes.
    Estimated Total Annual Burden Hours: 7,850 hours.
    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 11, 2000.
Garrick R. Shear,
IRS Reports Clearance Officer.
[FR Doc. 00-4033 Filed 2-18-00; 8:45 am]
BILLING CODE 4830-01-U