[Federal Register Volume 70, Number 57 (Friday, March 25, 2005)]
[Notices]
[Pages 15383-15384]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E5-1313]


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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

[[Page 15384]]

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 24, 2005, 
to be assured of consideration.

ADDRESSES: Direct all written comments to Glenn Kirkland, Internal 
Revenue Service, room 6512, 1111 Constitution Avenue NW., Washington, 
DC 20224.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the regulations should be directed to Larnice Mack at 
Internal Revenue Service, room 6512, 1111 Constitution Avenue NW., 
Washington, DC 20224, or at (202) 622-3179, or through the Internet at 
([email protected]).

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 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: March 16, 2005.
Glenn Kirkland,
IRS Reports Clearance Officer.
[FR Doc. E5-1313 Filed 3-24-05; 8:45 am]
BILLING CODE 4830-01-P