[Federal Register Volume 72, Number 8 (Friday, January 12, 2007)]
[Notices]
[Pages 1577-1578]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E7-348]


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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

January 8, 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 February 12, 
2007 to be assured of consideration.

Internal Revenue Service (IRS)

    OMB Number: 1545-1559.
    Type of Review: Extension.
    Title: Revenue Procedures 98-46 and 97-44, LIFO Conformity 
Requirement.
    Description: This document contains final regulations addressing 
the carry over of certain attributes, such as earnings and profits and 
foreign income tax accounts, when two corporations combine in a 
corporate reorganization or liquidation that is described in both 
section 367(b) and section 381 of the Internal Revenue Code.
    Respondents: Businesses and other for-profit institutions.
    Estimated Total Burden Hours: 100,000 hours.

    OMB Number: 1545-1130.
    Type of Review: Extension.
    Title: Special Loss Discount Account and Special Estimated Tax 
Payments for Insurance Companies.
    Form: 8816.
    Description: Form 8816 is used by insurance companies claiming an 
additional deduction under IRC section 847 to reconcile their special 
loss discount and special estimated tax payments, and to determine 
their tax benefit associated with the deduction. The information is 
needed by the IRS to determine that the proper additional deduction was 
claimed and to insure the proper amount of special estimated tax was 
computed and deposited.
    Respondents: Businesses and other for-profit institutions.
    Estimated Total Burden Hours: 1,983 hours.

    OMB Number: 1545-1706.
    Title: Revenue Procedure 2000-42 Section 1503(d) Closing Agreement 
Requests.
    Type of Review: Extension.
    Description: Revenue Procedure 2000-42 informs taxpayers of the 
information they must submit to request a closing agreement under Reg. 
S1.1503-2(g)(2)(iv)(B)(2)(i) to prevent the recapture of dual 
consolidated losses (DCLs) upon the occurrence of certain triggering 
events.
    Respondents: Businesses and other for-profit institutions.
    Estimated Total Burden Hours: 2,000 hours.

    OMB Number: 1545-0240.
    Title: Claim for Refund of Income Tax Return Preparer Penalties.
    Form: 6118.
    Type of Review: Extension.
    Description: Form 6118 is used by preparers to file for a refund of 
penalties incorrectly charged. The information enables the IRS to 
process the claim and have the refund issued to the tax return 
preparer.
    Respondents: Individuals or Households.
    Estimated Total Burden Hours: 9,300 hours.

    OMB Number: 1545-1160.
    Title: CO-93-90 (Final) Corporations; Consolidated Returns-Special 
Rules Relating To Dispositions and Deconsolidations of Subsidiary 
Stock.
    Type of Review: Extension.
    Description: These regulations prevent elimination of corporate-
level tax because of the operation of the consolidated returns 
investment adjustment rules. Statements are required for dispositions 
of a subsidiary's stock for which losses are claimed, for basis 
reductions within 2 years of the stock's deconsolidation, and for 
elections by the common parent to retain the NOLs of a disposed 
subsidiary.
    Respondents: Businesses and other for-profit institutions.
    Estimated Total Burden Hours: 6,000 hours.

    OMB Number: 1545-1724.
    Title: REG-109481-99 (Final) Special Rules Under Section 417(a)(7) 
for Written Explanations Provided by Qualified Retirement Plans After 
Annuity Starting Dates.
    Type of Review: Extension.
    Description: The collection of information requirement in sections 
1.417(e)-1(b)(3)(iv)(B) and 1.417(e)-1(b)(3)(v)(A) is required to 
ensure that a participant and the participant's spouse consent to a 
form of distribution from a qualified plan that may result in reduced 
periodic payments.
    Respondents: Individuals or households.
    Estimated Total Burden Hours: 12,500 hours.

    OMB Number: 1545-1450.
    Title: FI-59-91 (Final), Debt Instructions With Originals Issue 
Discount; Contingent Payments; Anti-Abuse Rule.
    Type of Review: Extension.
    Description: The regulations provide definitions, general rules, 
and reporting requirements for debt instruments that provide for 
contingent payments. The regulations also provide definitions, general 
rules, and recordkeeping requirements for integrated debt instruments.
    Respondents: Businesses and other for-profit institutions.
    Estimated Total Burden Hours: 89,000 hours.

    OMB Number: 1545-1451.
    Title: REG-248900-96 (Final), Definition of Private Activity Bonds.
    Type of Review: Extension.
    Form: 8082.
    Description: Section 103 provides generally that interest on 
certain State or local bonds is excluded from gross income. However, 
under sections 103(b)(1) and 141, interest on private activity bonds 
(other than qualified bonds) is not excluded. The regulations provide 
rules, for purposes of section 141, to determine how bond proceeds

[[Page 1578]]

are measured and used and how debt service for those bonds is paid or 
secured.
    Respondents: State, local, or tribal governments.
    Estimated Total Burden Hours: 30,100 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. E7-348 Filed 1-11-07; 8:45 am]
BILLING CODE 4810-01-P