[Federal Register Volume 71, Number 242 (Monday, December 18, 2006)]
[Notices]
[Pages 75811-75812]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E6-21504]


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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

December 12, 2006.
    The Department of the Treasury has submitted the following public 
information collection requirement(s) to OMB for review and clearance 
under the Paperwork Reduction Act of 1995, Public Law 104-13. Copies of 
the submission(s) may be obtained by calling the Treasury Bureau 
Clearance Officer listed. Comments regarding this information 
collection should be addressed to the OMB reviewer listed and to the 
Treasury Department Clearance Officer, Department of the Treasury, Room 
11000, 1750 Pennsylvania Avenue, NW., Washington, DC 20220.

DATES: Written comments should be received on or before January 17, 
2007 to be assured of consideration.

Internal Revenue Service (IRS)

    OMB Number: 1545-1551
    Type of Review: Extension.
    Title: Revenue Procedure 97-36, Revenue Procedure 97-38, Revenue 
Procedure 97-39, and Revenue Procedure 2002-9, Changes in Methods of 
Accounting.
    Description: The information collected in the four revenue 
procedures is required in order for the Commissioner to determine 
whether the taxpayer properly is requesting to change its method of 
accounting and the terms and conditions of the change.
    Respondents: Businesses and other for-profit institutions.
    Estimated Total Burden Hours: 222,454 hours.
    OMB Number: 1545-1851
    Type of Review: Extension.
    Title: REG-124312-02 (Final) Golden Parachute Payments.
    Description: These regulations deny a deduction for excess 
parachute payments. A parachute payment is a payment in the nature of 
compensation to a disqualified individual that is contingent on a 
change in ownership or control of a corporation. Certain payments, 
including payments from a small corporation, are exempt from the 
definition of parachute payment if

[[Page 75812]]

certain requirements are met (such as shareholder approval and 
disclosure requirements).
    Respondents: Businesses and other for-profit institutions.
    Estimated Total Burden Hours: 12,000 hours.
    OMB Number: 1545-1096
    Title: Excise Tax Program Order Blank for Forms and Publications.
    Type of Review: Extension.
    Form: 9117.
    Description: Form 9117 allows taxpayers who must file Form 720 
returns a systemic way to order additional tax forms and informational 
publications.
    Respondents: Businesses and other for-profit institutions.
    Estimated Total Burden Hours: 500 hours.
    OMB Number: 1545-1143
    Title: Notification of Distribution From a Generation-Skipping 
Trust.
    Type of Review: Extension.
    Form: 706-GS(D-1).
    Description: Form 706-GS(D-1) is used by trustees to notify the IRS 
and distributees of information needed by distributees to compute the 
Federal GST tax imposed by IRC section 2601. IRS uses the information 
to enforce this tax and to verify that the tax has been properly 
computed.
    Respondents: Individuals or Households.
    Estimated Total Burden Hours: 348,800 hours.
    OMB Number: 1545-1558
    Title: Revenue Procedure 97-43, Procedures for Electing Out of 
Exemptions Under Section 1.475(c)-1; and Revenue Ruling 97-39, Mark-to-
Market Accounting Method for Dealers in Securities.
    Form: 1138.
    Type of Review: Extension.
    Description: Revenue Procedure 97-43 provides taxpayers automatic 
consent to change to mark-to-market accounting for securities after the 
taxpayer elects under section 1.475(c)-1, subject to specified terms 
and conditions. Revenue Ruling 97-39 provides taxpayers additional 
mark-to-market guidance in a question and answer format.
    Respondents: Businesses and other for-profit institutions.
    Estimated Total Burden Hours: 1,000 hours.
    OMB Number: 1545-1145
    Title: Generation-Skipping Transfer Tax Return For Terminations.
    Type of Review: Extension.
    Form: 706-GS(T).
    Description: Form 706-GS(T) is used by trustees to compute and 
report the Federal GST tax imposed by IRC section 2601. IRS uses the 
information to enforce this tax and to verify that the tax has been 
properly computed.
    Respondents: Individuals or households.
    Estimated Total Burden Hours: 684 hours.
    OMB Number: 1545-1701
    Title: Revenue Procedure 2000-37 Reverse Like-kind Exchanges.
    Type of Review: Extension.
    Description: The revenue procedure provides a safe harbor for 
reverse like-kind exchanges under which a transaction using a 
``qualified exchange accommodation arrangement'' will qualify for non-
recognition treatment under Sec. 1031 of the Internal Revenue Code.
    Respondents: Businesses and other for-profit institutions.
    Estimated Total Burden Hours: 3,200 hours.
    Clearance Officer: Glenn P. Kirkland, (202) 622-3428, Internal 
Revenue Service, Room 6516, 1111 Constitution Avenue, NW., Washington, 
DC 20224.
    OMB Reviewer: Alexander T. Hunt, (202) 395-7316, Office of 
Management and Budget, Room 10235, New Executive Office Building, 
Washington, DC 20503.

Robert Dahl,
Treasury PRA Clearance Officer.
 [FR Doc. E6-21504 Filed 12-15-06; 8:45 am]
BILLING CODE 4830-01-P