[Federal Register Volume 70, Number 50 (Wednesday, March 16, 2005)]
[Notices]
[Pages 12954-12955]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 05-5227]


-----------------------------------------------------------------------

DEPARTMENT OF THE TREASURY

Internal Revenue Service

[REG-209106-89]


Proposed Collection; Comment Request for Regulation Project

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

-----------------------------------------------------------------------

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, REG-209106-89, Changes With 
Respect to Prizes and Awards and Employee Achievement Awards (Sec.  
1.74-1(c)).

DATES: Written comments should be received on or before May 16, 2005 to 
be assured of consideration.

ADDRESSES: Direct all written comments to Glenn P. Kirkland, Internal 
Revenue Service, Room 6516, 1111 Constitution Avenue NW., Washington, 
DC 20224.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of regulation should be directed to R. Joseph Durbala, (202) 
622-3634, Internal Revenue Service, Room 5242, 1111 Constitution Avenue 
NW., Washington, DC 20224, or through the Internet at 
[email protected].

SUPPLEMENTARY INFORMATION: Title: Changes With Respect to Prizes and 
Awards and Employee Achievement Awards.
    OMB Number: 1545-1100.
    Regulation Project Number: REG-209106-89 (formerly EE-84-89).
    Abstract: This regulation requires recipients of prizes and awards 
to maintain records to determine whether a qualifying designation has 
been made in accordance with section 74(b)(3) of the Internal Revenue 
Code. The affected public are prize and award recipients who seek to 
exclude the cost of a qualifying prize or award.
    Current Actions: There is no change to this existing regulation.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals or households.
    Estimated Number of Respondents: 5,100.
    Estimated Time Per Respondent: 15 minutes.
    Estimated Total Annual Burden Hours: 1,275.
    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

[[Page 12955]]

or start-up costs and costs of operation, maintenance, and purchase of 
services to provide information.

    Approved: March 11, 2005.
Glenn P. Kirkland,
IRS Reports Clearance Officer.
[FR Doc. 05-5227 Filed 3-15-05; 8:45 am]
BILLING CODE 4830-01-P