[Federal Register Volume 76, Number 113 (Monday, June 13, 2011)]
[Notices]
[Pages 34291-34292]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2011-14502]


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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

June 7, 2011.
    The Department of the Treasury will submit the following public 
information collection requirements to OMB for review and clearance 
under the Paperwork Reduction Act of 1995, Public Law 104-13 on or 
after the date of publication of this notice. A copy of the submissions 
may be obtained by calling the Treasury Bureau Clearance Officer 
listed. Comments regarding these information collections should be 
addressed to the OMB reviewer listed and to the Treasury PRA Clearance 
Officer, Department of the Treasury, 1750 Pennsylvania Avenue, NW., 
Suite 11010, Washington, DC 20220.

DATES: Written comments should be received on or before July 13, 2011 
to be assured of consideration.

Internal Revenue Service (IRS)

    OMB Number: 1545-New.
    Type of Review: New collection.
    Title: Certain Fuel Products Report.
    Form: 720-CF.
    Abstract: Form 720-CF is an information return that will be used by 
fuel producers, importers/enterers, resellers and/or blenders to report 
their monthly receipts including production, deliveries to a terminal 
and sales of certain fuel products. To ensure reporting and filing 
compliance, this information is needed by the Service to properly track 
the movement of fuel between these entities and the terminal operators 
and carrier operators that are currently filing forms 720-TO/CS.
    Respondents: Private sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 518,361.

    OMB Number: 1545-1465.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: TD 8668--Environmental Settlement Funds--Classification.
    Abstract: Section 7701 and the regulations thereunder classify 
entities for federal tax purposes as partnerships, associations, and 
trusts. Section 671 requires a grantor treated as an owner of a portion 
of a trust to include items in income. This regulation provides 
reporting rules.
    Respondents: Private sector: Business or other for-profit.
    Estimated Total Burden Hours: 2,000.

    OMB Number: 1545-1548.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Revenue Procedure 2003-43, Late Election Relief for S 
Corporations; Revenue Procedure 2004-48, Deemed Corporate Election for 
Late Electing S Corporations.
    Abstract: The IRS will use the information provided by taxpayers 
under this revenue procedure to determine whether relief should be 
granted for the relevant late election.
    Respondents: Private sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 50,000.

    OMB Number: 1545-1757.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: TD 9036--Disclosure of Returns and Return Information by 
Other Agencies.
    Abstract: In general, under the regulations, the IRS is permitted 
to authorize agencies with access to returns and return information 
under

[[Page 34292]]

section 6103 of the Internal Revenue Code to redisclose returns and 
return information based on a written request and with the 
Commissioner's approval, to any authorized recipient set forth in Code 
section 6103, subject to the same conditions and restrictions, and for 
the same purposes, as if the recipient had received the information 
from the IRS directly.
    Respondents: State and Local Agencies.
    Estimated Total Burden Hours: 11.

    OMB Number: 1545-1912.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Election of Partnership Level Tax Treatment.
    Form: 8893.
    Abstract: IRC section 6231(a)(1)(B)(ii) allows small partnerships 
to elect to be treated under the unified audit and litigation 
procedures. Form 8893 will allow IRS to better track these elections by 
providing a standardized format for this election.
    Respondents: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 227.

    OMB Number: 1545-1915.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Notice 2005-4, Fuel Tax Guidance, as modified by Notice 
2005-24.
    Abstract: Notice 2005-4 provides guidance on certain excise tax 
provisions in the Internal Revenue Code that were added or affected by 
the American Jobs Creation Act of 2004 (Pub. L. 108-357) (Act). These 
provisions relate to: alcohol and biodiesel fuels; the definition of 
off-highway vehicles; aviation-grade kerosene; claims related to diesel 
fuel used in certain buses; the display of registration on certain 
vessels; claims related to sales of gasoline to state and local 
governments and nonprofit educational organizations; two party 
exchanges of taxable fuel; and the classification of transmix and 
certain diesel fuel blendstocks as diesel fuel. Notice 2005-24 modifies 
Notice 2005-4, by extending the transitional rule related to sales of 
gasoline on oil company credit cards and by making several corrections 
to Notice 2005-4.
    Respondents: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 76,190.

    OMB Number: 1545-2202.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: New Hire Retention Credit.
    Form: 5884-B.
    Abstract: Form 5884-B, New Hire Retention Credit, was developed to 
carry out the provisions of section 102 of the Hiring Incentives to 
Restore Employment (HIRE) Act (Public Law (P.L.) 111-147). The new form 
provides a means for employers to calculate and claim the credit. This 
credit is a new non-Code general business credit and the form is 
required to be attached to the tax return.
    Respondents: Private Sector: Businesses or other for-profits, 
Farms, Not-for-profit institutions.
    Estimated Total Burden Hours: 13,815,000.

    Bureau Clearance Officer: Yvette Lawrence, Internal Revenue 
Service, 1111 Constitution Avenue, NW., Washington, DC 20224; (202) 
927-4374.
    OMB Reviewer: Shagufta Ahmed, Office of Management and Budget, New 
Executive Office Building, Room 10235, Washington, DC 20503; (202) 395-
7873.

Dawn D. Wolfgang,
Treasury PRA Clearance Officer.
[FR Doc. 2011-14502 Filed 6-10-11; 8:45 am]
BILLING CODE 4810-01-P