[Federal Register Volume 74, Number 154 (Wednesday, August 12, 2009)]
[Notices]
[Pages 40646-40647]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E9-19275]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

[FI-88-86]


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

[[Page 40647]]

and/or continuing information collections, as required by the Paperwork 
Reduction Act of 1995, Public Law 104-13 (44 U.S.C. 3506(c)(2)(A)). 
Currently, the IRS is soliciting comments concerning an existing final 
regulation, FI-88-86 (TD 9272), Real Estate Mortgage Investment 
Conduits (Sec. Sec.  1.860E-2(a)(5), 1.860E-2(a)(7), and 1.860E-
2(b)(2)).

DATES: Written comments should be received on or before October 13, 
2009 to be assured of consideration.

ADDRESSES: Direct all written comments to R. Joseph Durbala, Internal 
Revenue Service, room 6129, 1111 Constitution Avenue, NW., Washington, 
DC 20224.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the information collection should be directed to Evelyn J. 
Mack, (202) 622-7381, at Internal Revenue Service, room 6129, 1111 
Constitution Avenue, NW., Washington, DC 20224, or through the Internet 
at [email protected].

SUPPLEMENTARY INFORMATION:
    Title: Real Estate Mortgage Investment Conduits.
    OMB Number: 1545-1276.
    Regulation Project Number: FI-88-86.
    Abstract: Final, temporary, and proposed regulations under section 
860G of the Code relate to income that is associated with a residual 
interest in a Real Estate Mortgage Investment Conduit (REMIC) and that 
is allocated through certain entities to foreign persons who have 
invested in those entities. The regulations accelerate the time when 
income is recognized for withholding tax purposes to conform to the 
timing of income recognition for general income tax purposes.
    Current Actions: TD 9272 was introduced July 31, 2006; it 
supersedes TD 8614, TD 9004, TD 9128, and TD 8458.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents: 1,600.
    Estimated Time per Respondent: 20 minutes.
    Estimated Total Annual Burden Hours: 525.
    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: August 4, 2009.
R. Joseph Durbala,
IRS Reports Clearance Officer.
[FR Doc. E9-19275 Filed 8-11-09; 8:45 am]
BILLING CODE 4830-01-P