[Federal Register Volume 75, Number 23 (Thursday, February 4, 2010)]
[Notices]
[Page 5857]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-2375]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

[REG-251985-96]


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 notice of proposed rulemaking and temporary regulation, REG-
251985-96 (TD 8786), Source of Income From Sales of Inventory Partly 
From Sources Within a Possession of the United States; Also, Source of 
Income Derived From Certain Purchases From a Corporation Electing 
Section 936 (Sec.  1.863-3).

DATES: Written comments should be received on or before April 5, 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 regulations should be directed to Dawn Bidne at Internal 
Revenue Service, Room 6129, 1111 Constitution Avenue, NW., Washington, 
DC 20224, or at (202) 622-3933, or through the Internet at 
[email protected].

SUPPLEMENTARY INFORMATION: Title: Source of Income From Sales of 
Inventory Partly From Sources Within a Possession of the United States; 
Also, Source of Income Derived From Certain Purchases From a 
Corporation Electing Section 936.
    OMB Number: 1545-1556.
    Regulation Project Number: REG-251985-96.
    Abstract: Section 1.863-3(f)(6) of this regulation requires 
taxpayers to attach a statement to their tax return furnishing certain 
information regarding the methodology used to determine the source of 
their income from cross-border sales of inventory, and the amount of 
income allocated or apportioned to U.S. or foreign sources in these 
sales. The information is used by the IRS to establish whether the 
taxpayer determined the source of its income in accordance with Code 
section 863.
    Current Actions: There is no change to this existing regulation.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations.
    Estimated No. of Respondents: 200.
    Estimated Time per Respondent: 2 hours, 30 minutes.
    Estimated Total Annual Burden Hours: 500.
    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: January 15, 2010.
R. Joseph Durbala,
IRS Supervisory Tax Analyst.
[FR Doc. 2010-2375 Filed 2-3-10; 8:45 am]
BILLING CODE 4830-01-P