[Federal Register Volume 73, Number 36 (Friday, February 22, 2008)]
[Notices]
[Pages 9855-9857]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E8-3305]


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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

February 13, 2008.
    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, and 1750 
Pennsylvania Avenue, NW., Washington, DC 20220.

DATES: Written comments should be received on or before March 24, 2008 
to be assured of consideration.

Internal Revenue Service (IRS)

    OMB Number: 1545-1915.
    Type of Review: Extension.
    Title: Notice 2005-04, Fuel Tax Guidance, Request for Comments
    Description: This notice provides guidance on certain excise Code 
provisions that were added or effected by the American Jobs Creation 
Act of 2004, Pub. L. 108-357. The information will be used by the IRS 
to verify that the proper amount of tax is reported, excluded, 
refunded, or credited.
    Respondents: Businesses or other for-profit institutions.
    Estimated Total Burden Hours: 76,190 hours.

    OMB Number: 1545-1420.
    Type of Review: Extension.
    Title: Claim for Refund of Excise Taxes.
    Form: 8849.
    Description: IRC sections 6402, 6404, 6511 and sections 301.6402-2, 
301.6404-1, and 301.6404-3 of the regulations, allow for refunds of 
taxes (except income taxes) or refund, abatement, or credit of 
interest, penalties, and additions to tax in the event of errors or 
certain actions by IRS. Form 8849 is used by taxpayers to claim refunds 
of excise taxes.
    Respondents: Individuals or households.
    Estimated Total Burden Hours: 716,604 hours.

    OMB Number: 1545-1394.
    Type of Review: Extension.
    Title: U.S. Income Tax Return for Settlement Funds (Under Section 
468B).
    Form: 1120-SF.
    Description: Form 1120-SF is used by settlement funds to report 
income and taxes on earnings of the fund. The fund may be established 
by court order, a breach of contract, a violation of law, an 
arbitration panel, or the Environmental Protection Agency. The IRS uses 
Form 1120-SF to determine if income and taxes are correctly computed.
    Respondents: Businesses or other for-profit institutions.
    Estimated Total Burden Hours: 27,330 hours.

    OMB Number: 1545-1634.
    Type of Review: Extension.
    Title: REG-106902-98 (Final) Consolidated Returns--Consolidated 
Overall Foreign Losses and Separate Limitation Losses.
    Description: The regulations provide guidance relating to the 
amount of overall foreign losses and separate limitation losses in the 
computation of the foreign tax credit. The regulations affect 
consolidated groups of corporations that compute the foreign tax credit 
limitation or that disposes of property used in a foreign trade or 
business.
    Respondents: Businesses or other for-profit institutions.
    Estimated Total Burden Hours: 3,000 hours.

    OMB Number: 1545-0197.
    Type of Review: Extension.
    Title: Form 5300, Application for Determination for Employee 
Benefit Plan, Schedule Q (Form 5300), Elective Determination Requests.
    Form: 5300.
    Description: IRS needs certain information on the financing and 
operating of employee benefit and employee contribution plans set up by 
employers. IRS uses Form 5300 to obtain the information needed to 
determine whether the plans qualify under Code sections 401(a) and 
501(a). Schedule Q provides information related to the manner in which 
a plan satisfies certain qualification requirements relating to minimum 
participation, coverage, and nondiscrimination.
    Respondents: Businesses or other for-profit institutions.
    Estimated Total Burden Hours: 7,972,750 hours.

    OMB Number: 1545-1478.
    Type of Review: Extension.
    Title: INTL-9-95 (Final) Certain Transfers of Domestic Stock or 
Securities by U.S. Persons to Foreign Corporation's (TD 8702).
    Description: Transfers of stock or securities by U.S. persons in 
tax-free transactions are treated as taxable transactions when the 
acquirer is a foreign corporation, unless an exception applies (section 
367(a)). Under the

[[Page 9856]]

regulations, no U.S. person will qualify for an exception unless the 
U.S. target company complies with certain reporting requirements.
    Respondents: Businesses or other for-profit institutions.
    Estimated Total Burden Hours: 1,000 hours.

    OMB Number: 1545-1624.
    Type of Review: Extension.
    Title: Notice 98-52 Cash or Deferred Arrangements; 
Nondiscrimination; REG-108639-99 (Final) Retirement Plans; Cash or 
Deferred Arrangements under Section 401(k) and Matching Contributions.
    Description: Section 1433(a) of the Small Business Job Protection 
Act of 1996 requires that the Service provide nondiscriminatory safe 
harbors with respect to section 401(k)(12) and section 401(m)(11) for 
plan years beginning after December 31, 1998. This notice implements 
that statutory requirement.
    Respondents: Businesses and other for-profits.
    Estimated Total Burden Hours: 80,000 hours.

    OMB Number: 1545-2084.
    Type of Review: Extension.
    Title: Foreign Based Importers--Non-Filers.
    Description: Foreign corporations are subject to tax on income that 
is effectively connected with a U.S. trade or business and are required 
to file form 1120, 1120-f or 1065 reporting taxable income. The 
respondents will be foreign corporations. The information gathered will 
be used to determine if the foreign corporation has a U.S. trade or 
business and is required to file a U.S. Income Tax return.
    Respondents: Businesses or other for-profit institutions.
    Estimated Total Burden Hours: 30 hours.

    OMB Number: 1545-1896.
    Type of Review: Extension.
    Title: Application to Participate in the IRS Acceptance Agent 
Program.
    Form: 13551.
    Description: Form 13551 is used to gather information to determine 
applicant's eligibility in the Acceptance Agent Program.
    Respondents: Businesses or other for-profit institutions.
    Estimated Total Burden Hours: 6,413 hours.

    OMB Number: 1545-1423.
    Type of Review: Extension.
    Title: PS-106-91 (Final) State Housing Credit Ceiling and other 
Rules Relating to the Low-Income Housing Credit.
    Description: The regulations provide the order in which credits are 
allocated from each State's credit ceiling under section 42(h)(3)(C) 
and the determination of which states qualify for credits from a 
National Pool of credits under section 42(h)(3)(D). Allocating agencies 
need this information to correctly allocate credits and determine 
National Pool eligibility.
    Respondents: Businesses or other for-profit institutions.
    Estimated Total Burden Hours: 275 hours.

    OMB Number: 1545-1990.
    Type of Review: Extension.
    Title: Reg-152354-04 (final) designated Roth Contributions to cash 
or deferred arrangements under section 401(k).
    Description: The final regulation provides guidance concerning the 
requirement for designated Roth contributions to qualified cash or 
deferred arrangements under section 401(k). The IRS need this 
information to insure compliance with section 401(k) and (m) and 
section 402.A.
    Respondents: Businesses and other for-profit institutions.
    Estimated Total Burden Hours: 157,500 hours.

    OMB Number: 1545-1951.
    Type of Review: Extension.
    Title: Notice 2005-04, Fuel Tax guidance, Request.
    Description: This notice provide guidance on certain excise Code 
provisions that were added or affected by the American jobs creation 
Act of 2004 Pub. L. 108-357. The information will be used by the IRS to 
verify that the proper amount of tax is reported, excluded, refunded or 
credited.
    Respondents: Businesses or other for-profit institutions.
    Estimated Total Burden Hours: 76,190 hours.

    OMB Number: 1545-1640.
    Type of Review: Extension.
    Title: REG-104924-989NPRM) Mark to Market accounting for dealers in 
commodities and traders in securities or commodities.
    Description: The collection of information in this proposed 
regulation is required by the Internal Revenue Service to determine 
whether an exemption for mark to market treatment is properly claimed. 
This information will be used to make that determination upon audit of 
taxpayer's books and records. The likely recordkeepers are businesses 
or other for-profit institutions.
    Respondents: Businesses or other for-profit institutions.
    Estimated Total Burden Hours: 1,000 hours.

    OMB Number: 1545-1931.
    Type of Review: Extension.
    Title: REG-152354-04 (Final) Designated Roth Contributions to Cash 
or Deferred Arrangements Under Section 401(k).
    Description: The final regulations provide guidance concerning the 
requirements for designated Roth contributions to qualified cash or 
deferred arrangements under section 401(k). The IRS needs this 
information to insure compliance with section 401(k) and (m) and 
section 402A.
    Respondents: Businesses or other for-profit institutions.
    Estimated Total Burden Hours: 157,500 hours.

    OMB Number: 1545-1756.
    Type of Review: Extension.
    Title: Revenue procedure 2001-56, Demonstration Automobile use.
    Form: 8849.
    Description: This revenue procedure provides optional simplified 
methods for determining the value of the use of demonstration 
automobiles provided to employees by automobile dealerships.
    Respondents: Not-for-Profit institutions.
    Estimated Total Burden Hours: 100,000 hours.

    OMB Number: 1545-1624.
    Type of Review: Extension.
    Title: Notice 98-52 Cash or Deferred Arrangements; 
Nondiscrimination; REG-108639-99 (Final) Retirement Plans; Cash or 
Deferred Arrangements Under Section 401(k) and Matching Contributions.
    Description: Section 1433(a) of the Small Business Job Protection 
Act of 1996 requires that the Service provide nondiscriminatory safe 
harbors with respect to section 401(k)(12) and section 401(m)(11) for 
plan years beginning after December 31, 1998. This notice implements 
that statutory requirement.
    Respondents: Businesses or other for-profit institutions.
    Estimated Total Burden Hours: 80,000 hours.

    OMB Number: 1545-1750.
    Type of Review: Extension.
    Title: Request for Recovery of Overpayments Under Arbitrage Rebate 
Provisions.
    Forms: 8038-R.
    Description: Under Treasury Regulations section 1.148-3(i), bond 
issuers may recover an overpayment of arbitrage rebate paid to the 
United States under Internal Revenue Code section 148. Form 8038-R is 
used to request recovery of any overpayment of arbitrage rebate made 
under the arbitrage rebate provisions.
    Respondents: Businesses or other for-profit institutions.

[[Page 9857]]

    Estimated Total Burden Hours: 2,458 hours.

    OMB Number: 1545-1478.
    Type of Review: Extension.
    Title: INTL-9-95 (Final) Certain Transfers of Domestic Stock or 
Securities by U.S. Persons to Foreign Corporation's (TD 8702).
    Description: Transfers of stock or securities by U.S. persons in 
tax-free transactions are treated as taxable transactions when the 
acquirer is a foreign corporation, unless an exception applies (section 
367(a)). Under the regulations, no U.S. person will qualify for an 
exception unless the U.S. target company complies with certain 
reporting requirements.
    Respondents: Businesses or other for-profit institutions.
    Estimated Total Burden Hours: 1,000 hours.

    OMB Number: 1545-2084.
    Type of Review: Extension.
    Title: Foreign Based Importers--Non-Filers.
    Description: Foreign corporations are subject to tax on income that 
is effectively connected with a U.S. trade or business and are required 
to file form 1120, 1120-f or 1065 reporting taxable income. The 
respondents will be foreign corporations. The information gathered will 
be used to determine if the foreign corporation has a U.S. trade or 
business and is required to file a U.S. Income Tax return.
    Respondents: Businesses or other for-profit institutions.
    Estimated Total Burden Hours: 30 hours.

    OMB Number: 1545-1770.
    Type of Review: Extension.
    Title: REG-115054-01 (Final) Treatment of Community Income for 
Certain Individuals Not Filing Joint Returns.
    Description: The regulations provide rules to determine how 
community income is treated under section 66 for certain married 
individuals in community property states who do not file joint 
individual Federal income tax returns. The regulations also reflect 
changes in the law made by the IRS Restructuring and Reform Act of 
1998.
    Respondents: Businesses or other for-profit institutions.
    Estimated Total Burden Hours: 1 hour.

    OMB Number: 1545-2083.
    Type of Review: Extension.
    Title: Form 8921--Applicable Insurance Contracts Information 
Return.
    Description: To comply with IRC section 6050V, as added by the 
Pension Protection Act of 2006, an applicable exempt organization must 
file a Form 8921 for each structured transaction under which it makes 
reportable acquisitions of applicable insurance contracts. The 
information gathered will be used by the Treasury to issue a two-year 
report to Congress.
    Respondents: Businesses or other for-profit institutions.
    Estimated Total Burden Hours: 1,796,500 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. E8-3305 Filed 2-21-08; 8:45 am]
BILLING CODE 4830-01-P