[Federal Register Volume 69, Number 42 (Wednesday, March 3, 2004)]
[Notices]
[Page 10099]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 04-4740]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

[CO-24-95 and CO-11-91]


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, CO-24-95 (TD 8660), Consolidated Groups--
Intercompany Transactions and Related Rules, and CO-11-91 (TD 8597), 
Consolidated Groups and Controlled Groups--Intercompany Transactions 
and Related Rules (Sec.  1.1502-13).

DATES: Written comments should be received on or before May 3, 2004 to 
be assured of consideration.

ADDRESSES: Direct all written comments to Glenn P. Kirkland, Internal 
Revenue Service, room 6411, 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 at Internal 
Revenue Service, room 6407, 1111 Constitution Avenue, NW., Washington, 
DC 20224, or at (202) 622-3945, or through the Internet at 
[email protected].

SUPPLEMENTARY INFORMATION:
    Title: CO-24-95, Consolidated Groups--Intercompany Transactions and 
Related Rules, and CO-11-91, Consolidated Groups and Controlled 
Groups--Intercompany Transactions and Related Rules.
    OMB Number: 1545-1433.
    Regulation Project Numbers: CO-11-91 and CO-24-95.
    Abstract: The regulations require common parents that make 
elections under regulation section 1.1502-13 to provide certain 
information. The information will be used to identify and assure that 
the amount, location, timing and attributes of intercompany 
transactions and corresponding items are properly maintained.
    Current Actions: There is no change to these existing regulations.
    Type of Review: Extension of OMB approval.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents: 2,200.
    Estimated Time Per Respondent: 29 minutes.
    Estimated Total Annual Burden Hours: 1,050.
    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 26, 2004.
Glenn P. Kirkland,
IRS Reports Clearance Officer.
[FR Doc. 04-4740 Filed 3-2-04; 8:45 am]
BILLING CODE 4830-01-P