[Federal Register Volume 76, Number 113 (Monday, June 13, 2011)]
[Notices]
[Pages 34294-34295]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2011-14530]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


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 
information collection requirements related to Treaty-Based Return 
Positions.

DATES: Written comments should be received on or before August 12, 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 the regulation should be directed to Elaine Christophe, at 
(202) 622-3179, or at Internal Revenue Service, room 6129, 1111 
Constitution Avenue NW., Washington, DC 20224, or through the Internet, 
at [email protected].

SUPPLEMENTARY INFORMATION: 
    Title: Treaty-Based Return Positions.
    OMB Number: 1545-1126.
    Regulation Project Numbers: INTL-121-90 (TD 8733), INTL-292-90 (TD 
8305), and INTL-361-89 (TD 8292).
    Abstract: Regulation section 301.6114-1 sets forth reporting 
requirements under Code section 6114

[[Page 34295]]

relating to treaty-based return positions. Persons or entities subject 
to these reporting requirements must make the required disclosure on a 
statement attached to their return or be subject to a penalty. 
Regulation section 301.7701(b)-7(a)(4)(iv)(C) sets forth the reporting 
requirement for dual resident S corporation shareholders who claim 
treaty benefits as nonresidents of the U.S. Persons subject to this 
reporting requirement must enter into an agreement with the S 
corporation to withhold tax pursuant to procedures prescribed by the 
Commissioner.
    Current Actions: There is no change to these existing regulations.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals or households, and business or other 
for-profit organizations.
    Estimated Number of Respondents: 6,020.
    Estimated Time per Respondent: 1 hr.
    Estimated Total Annual Burden Hours: 6,015.
    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: May 24, 2011.
Yvette B. Lawrence,
IRS Reports Clearance Officer.
[FR Doc. 2011-14530 Filed 6-10-11; 8:45 am]
BILLING CODE 4830-01-P