[Federal Register Volume 75, Number 162 (Monday, August 23, 2010)]
[Notices]
[Pages 51880-51881]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-20879]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

[REG-106012-98] (TD 8936)


Proposed Collection; Comment Request for Regulation Project

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

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[[Page 51881]]

SUMMARY: The Department of the Treasury, as part of its 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-106012-98 (TD 8936), Definition of Contribution in Aid 
of Construction Under Section 118(c)(Sec.  1.118-2).

DATES: Written comments should be received on or before October 22, 
2010 to be assured of consideration.

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

FOR FURTHER INFORMATION CONTACT: Requests for copies of the regulation 
should be directed to Joel Goldberger at Internal Revenue Service, room 
6129, 1111 Constitution Avenue, NW., Washington, DC 20224, or at (202) 
927-9368, or through the Internet at [email protected].

SUPPLEMENTARY INFORMATION: 
    Title: Definition of Contribution in Aid of Construction Under 
Section 118(c).
    OMB Number: 1545-1639.
    Regulation Project Number: REG-106012-98 (TD 8936).
    Abstract: This regulation provides guidance with respect to section 
118(c), which provides that a contribution in aid of construction 
received by a regulated public water or sewage utility is treated as a 
contribution to the capital of the utility and excluded from gross 
income.
    Current Actions: There is no change to these existing regulations.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents: 300.
    Estimated Average Time Per Respondent: 1 hour.
    Estimated Total Annual Reporting Hours: 300.
    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 10, 2010.
Gerald Shields,
IRS Supervisory Tax Analyst.
[FR Doc. 2010-20879 Filed 8-20-10; 8:45 am]
BILLING CODE 4830-01-P