[Federal Register Volume 72, Number 239 (Thursday, December 13, 2007)]
[Notices]
[Pages 70933-70934]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E7-24143]


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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

December 7, 2007.
    The Department of Treasury will submit the following public 
information collection requirement(s) to OMB for review and clearance 
under the Paperwork Reduction Act of 1995, Public Law 104-13 on or 
after the date of publication of this notice. 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 14, 
2008 to be assured of consideration.

Internal Revenue Service (IRS)

    OMB Number: 1545-XXXX.
    Type of Review: New Collection.
    Title: RP-2007-XX (RP-155430-05), Accelerated Appeals Procedure.
    Description: This revenue procedure establishes the Accelerated 
Appeals Procedure for taxpayers who are issued a proposed assessment of 
penalty under section 6707 of 6707A of the Internal Revenue Code. These 
taxpayers may request that the Office of Appeals review and consider 
resolution of the proposed assessment. The information to be collected 
under the revenue procedure is needed to initiate, and will be used to 
conduct, the Accelerated Appeals Procedure.
    Respondents: Individuals or Households.
    Estimated Total Burden Hours: 430 hours.

    OMB Number: 1545-1360.
    Type of Review: Extension.
    Title: PS-102-88 (Final) Income, Gift and Estate Tax.
    Description: The regulation provides guidance to individuals or 
fiduciaries: 1) For making a qualified domestic trust election on the 
estate tax return of a decedent whose surviving spouse is not a United 
States citizen in order that the estate may obtain the marital 
deduction, and 2) for filing the annual returns that such an election 
may require.
    Respondents: Individuals or Households.
    Estimated Total Burden Hours: 6,150 hours.

    OMB Number: 1545-1629.
    Type of Review: Extension.
    Title: Paid Preparer's Earned Income Credit Checklist.
    Form: 8867.
    Description: Form 8867 helps preparers meet the due diligence 
requirements of Code section 6695(g), which was added by section 
1085(a)(2) of the Taxpayer Relief Act of 1997. Paid preparers of 
Federal income tax returns or claims for refund involving the earned 
income credit (EIC) must meet the due diligence requirements in 
determining if the taxpayer is eligible for the EIC and the amount of 
the credit. Failure to do so could result in a $100 penalty for each 
failure. Completion of Form 8867 is one of the due diligency 
requirements.
    Respondents: Businesses and other for-profits.
    Estimated Total Burden Hours: 14,979,521 hours.
    OMB Number: 1545-1889.
    Type of Review: Extension.
    Title: Notice 2004-59, Plan Amendments Following Election of 
Alternative Deficit Reduction Contribution.

[[Page 70934]]

    Description: This notice sets forth answers to certain questions 
raised by the public when there is an amendment to an election to take 
advantage of the alternative deficit reduction contribution described 
in Public Law 108-218.
    Respondents: Businesses and other for-profit institutions.
    Estimated Total Burden Hours: 400 hours.
    OMB Number: 1545-1898.
    Type of Review: Extension.
    Title: Revenue Procedure 2004-47, Relief From Ruling Process For 
Making Late Reverse QTIP Election.
    Description: This revenue procedure provides alternative relief for 
taxpayers who failed to make a reverse QTIP election on an estate tax 
return. Instead of requesting a private letter ruling and paying the 
accompanying user fee the taxpayer may file certain documents with the 
Cincinnati Service Center directly to request relief.
    Respondents: Individuals or households.
    Estimated Total Burden Hours: 54 hours.
    OMB Number: 1545-1891.
    Type of Review: Revision.
    Title: Form 13560, HCTC Health Plan Administrator (HPA) Return of 
Funds Form.
    Form: 13560.
    Description: Form 13560 is completed by Health Plan Administrators 
(HPAs) and accompanies a return of funds in order to ensure proper 
handling. This form serves as supporting documentations for any funds 
returned by an HPA and clarifies where the payment should be applied 
and why it is being sent.
    Respondents: State, Local or Tribal Governments.
    Estimated Total Burden Hours: 50 hours.

    OMB Number: 1545-1631.
    Type of Review: Extension.
    Title: REG-209619-93 (Final) Escrow Funds and Other Similar Funds.
    Description: Section 468B(g) requires that income earned on escrow 
accounts, settlement funds, and similar funds be subject to current 
taxation. This section authorizes the Secretary to issue regulations 
providing for the current taxation of these accounts and funds as 
grantor trusts or otherwise. The proposed regulations would amend the 
final regulations for qualified settlement funds (QFSs) and would 
provide new rules for qualified escrows and qualified trusts used in 
deferred section 1031 exchanges; pre-closing escrows; contingent at-
closing escrows; and disputed ownership funds.
    Respondents: Businesses or other for-profit institutions.
    Estimated Total Burden Hours: 3,720 hours.

    OMB Number: 1545-1639.
    Type of Review: Extension.
    Title: REG-106012-98 (Final) Definition of Contribution in Aid of 
Construction under section 118(c).
    Description: The regulations provide guidance with respect to Sec. 
118(c), which provides that a contribution in aid of construction 
received by a regulated public water or sewage utility is treated as a 
contribution to the capital of the utility and excluded from gross 
income.
    Respondents: Businesses or other for-profit institutions.
    Estimated Total Burden Hours: 300 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. E7-24143 Filed 12-12-07; 8:45 am]
BILLING CODE 4830-01-P