[Federal Register Volume 70, Number 67 (Friday, April 8, 2005)]
[Notices]
[Page 18068]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 05-7098]



[[Page 18068]]

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DEPARTMENT OF THE TREASURY

Internal Revenue Service

[INTL-121-90, INTL-292-90, and INTL-361-89]


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, Pub. L. 104-13 (44 U.S.C. 
3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning 
existing final regulations INTL-121-90 (TD 8733), INTL-292-90 (TD 
8305), and INTL-361-89 (TD 8292), Treaty-Based Return Positions 
(Sec. Sec.  301.6114-1 and 301.7701(b)-7).

DATES: Written comments should be received on or before June 7, 2005 to 
be assured of consideration.

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

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the regulation should be directed to Allan Hopkins, at (202) 
622-6665, or at Internal Revenue Service, room 6516, 1111 Constitution 
Avenue, NW., Washington, DC 20224, or through the Internet, at 
[email protected].

SUPPLEMENTARY INFORMATION:
    Title: Treaty-Based Return Positions.
    OMB Number: 1545-1126.
    Regulation Project Numbers: INTL-121-90, INTL-292-90, and INTL-361-
89.
    Abstract: Regulation section 301.6114-1 sets forth reporting 
requirements under Code section 6114 relating to treaty-based return 
positions. Persons or entities subject to these reporting requirements 
must make the required disclosure on a statement attached to their 
return or be subject to a penalty. Regulation section 301.7701(b)-
7(a)(4)(iv)(C) sets forth the reporting requirement for dual resident S 
corporation shareholders who claim treaty benefits as nonresidents of 
the U.S. Persons subject to this reporting requirement must enter into 
an agreement with the S corporation to withhold tax pursuant to 
procedures prescribed by the Commissioner.
    Current Actions: There is no change to these existing regulations.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals or households, and business or other 
for-profit organizations.
    Estimated Number of Respondents: 6,020.
    Estimated Time per Respondent: 1 hr.
    Estimated Total Annual Burden Hours: 6,015.
    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: April 4, 2005.
Glenn Kirkland,
IRS Reports Clearance Officer.
[FR Doc. 05-7098 Filed 4-7-05; 8:45 am]
BILLING CODE 4830-01-P