[Federal Register Volume 76, Number 62 (Thursday, March 31, 2011)]
[Notices]
[Pages 17991-17992]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2011-7527]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

[TD 8537]


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, TD 8537, Carryover of Passive Activity 
Losses and Credits and At-Risk Losses to Bankruptcy Estates of 
Individuals (Sec. Sec.  1.1398-1 and 1.1398-2).

DATES: Written comments should be received on or before May 31, 2011 to 
be assured of consideration.

ADDRESSES: Direct all written comments to Yvette B. Lawrence, Internal 
Revenue Service, Room 6129, 1111 Constitution Avenue, NW., Washington, 
DC 20224.

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

SUPPLEMENTARY INFORMATION:
    Title: Carryover of Passive Activity Losses and Credits and At Risk 
Losses to Bankruptcy Estates for Individuals.
    OMB Number: 1545-1375.
    Regulation Project Number: T.D. 8537
    Abstract: These regulations relate to the application of carryover 
of passive activity losses and credits and at risk losses to the 
bankruptcy estates of individuals. The final
    regulations affect individual taxpayers who file bankruptcy 
petitions under chapter 7 or chapter 11 of title 11 of the United 
States Code and have passive activity losses and credits under section 
469 or losses under section 465.
    Current Actions: There is no change to this existing regulation.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals or households.
    Estimated Number of Respondents: 500.
    Estimated Time per Respondent: 12 Minutes.
    Estimated Total Annual Burden Hours: 100.
    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

[[Page 17992]]

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: March 22, 2011.
Yvette B. Lawrence,
IRS Reports Clearance Officer.
[FR Doc. 2011-7527 Filed 3-30-11; 8:45 am]
BILLING CODE 4830-01-P