[Federal Register Volume 74, Number 218 (Friday, November 13, 2009)]
[Notices]
[Pages 58682-58683]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E9-27213]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Form 976

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 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 
Form 976, Claim for Deficiency Dividends Deductions by a Personal 
Holding Company, Regulated Investment Company, or Real Estate 
Investment Trust.


DATES: Written comments should be received on or before January 12, 
2010 to be assured of consideration.

ADDRESSES: Direct all written comments to Glenn Kirkland Internal 
Revenue Service, room 6242, 1111 Constitution Avenue, NW., Washington, 
DC 20224.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the form and instructions should be directed to R. Joseph 
Durbala at Internal Revenue Service, room 6129, 1111 Constitution 
Avenue NW., Washington, DC 20224, or at (202) 622-3634, or through the 
Internet at [email protected].

SUPPLEMENTARY INFORMATION:
    Title: Claim for Deficiency Dividends Deductions by a Personal 
Holding Company, Regulated Investment Company, or Real Estate 
Investment Trust.
    OMB Number: 1545-0045.
    Form Number: Form 976.
    Abstract: Form 976 is filed by corporations that wish to claim a 
deficiency dividend deduction. The deduction allows the corporation to 
use the payment of dividends to reduce taxes imposed after the tax 
return is filed. The IRS uses Form 976 to determine if shareholders 
have included the dividend amounts in gross income.
    Current Actions: There are no changes being made to the form at 
this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents: 500.
    Estimated Time per Respondent: 7 hours, 40 minutes.
    Estimated Total Annual Burden Hours: 3,830.
    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

[[Page 58683]]

or start-up costs and costs of operation, maintenance, and purchase of 
services to provide information.

    Approved: November 4, 2009.
R. Joseph Durbala,
IRS.
[FR Doc. E9-27213 Filed 11-12-09; 8:45 am]
BILLING CODE 4830-01-P