[Federal Register Volume 74, Number 222 (Thursday, November 19, 2009)]
[Notices]
[Pages 60035-60036]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E9-27754]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

[REG-209835-86]


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 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, REG-209835-86 (TD 8708), Computation of 
Foreign Taxes Deemed Paid Under Section 902 Pursuant to a Pooling 
Mechanism for Undistributed Earnings and Foreign Taxes (Sec.  1.902-1).

DATES: Written comments should be received on or before January 19, 
2010 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 regulation should be

[[Page 60036]]

directed to Allan Hopkins, at (202) 622-6665, or at Internal Revenue 
Service, room 6129, 1111 Constitution Avenue, NW., Washington, DC 
20224, or through the Internet at [email protected].

SUPPLEMENTARY INFORMATION:
    Title: Computation of Foreign Taxes Deemed Paid under Section 902 
Pursuant to a Pooling Mechanism for Undistributed Earnings and Foreign 
Taxes.
    OMB Number: 1545-1458.
    Regulation Project Number: Reg-209835-86 (formerly INTL-933-86).
    Abstract: This regulation provides rules for computing foreign 
taxes deemed paid under Internal Revenue Code section 902. The 
regulation affects foreign corporations and their United States 
corporate shareholders that own directly at least 10% of the voting 
stock of the foreign corporation.
    Current Actions: There are no changes being made to this existing 
regulation.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations.
    The burden for the collection of information is reflected in the 
burden for Form 1118, Foreign Tax Credit-Corporations.
    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: November 13, 2009.
R. Joseph Durbala,
Supervisory Tax Analyst.
[FR Doc. E9-27754 Filed 11-18-09; 8:45 am]
BILLING CODE 4830-01-P