[Federal Register Volume 76, Number 185 (Friday, September 23, 2011)]
[Notices]
[Pages 59187-59188]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2011-24488]


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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

September 20, 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 October 24, 
2011 to be assured consideration.

Internal Revenue Service (IRS)

    OMB Number: 1545-0854.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Section 301.7245-3, Discharge of Liens (TD 9410).
    Abstract: The Internal Revenue Service needs this information in 
processing a request to sell property of a tax lien at a non-judicial 
sale. This information will be used to determine the amount, if any, to 
which the tax lien attaches.
    Respondents: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 200.

    OMB Number: 1545-1244.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: T.D. 9013, Limitation on Passive Activity Losses and 
Credits--Treatment on Self-Charged Items of Income and Expense.
    Abstract: These regulations provide guidance on the treatment of 
self-charged items of income and expense under section 469. The 
regulations re-characterize a percentage of certain portfolio income 
and expense as passive income and expense (self-charged items) when a 
taxpayer engages in a lending transaction with a partnership or an S 
corporation (passthrough entity) in which the taxpayer owns a direct or 
indirect interest and the loan proceeds are used in a passive activity. 
Similar rules apply to lending transactions between two identically 
owned passthrough entities. These final regulations affect taxpayers 
subject to the limitations on passive activity losses and credits.
    Respondents: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 150.

    OMB Number: 1545-1771.
    Type of Review: Revision of a currently approved collection.
    Title: Revenue Procedure 2009-41, Extension of Time to File Entity 
Classification Elections.
    Abstract: This revenue procedure provides guidance under Sec.  7701 
of the Internal Revenue Code for an eligible entity that requests 
relief for a late classification election filed with the applicable IRS 
service center within 3 years and 75 days of the requested effective 
date of the eligible entity's classification election. The revenue 
procedure also provides guidance for those eligible entities that do 
not qualify for relief under this revenue procedure and that are 
required to request a letter ruling in order to request relief for a 
late entity classification. This revenue procedure supersedes Rev. 
Proc. 2002-59 by extending late entity classification relief to both 
initial classification elections and changes in classification 
elections along with extending the time for filing late entity 
classification elections to within 3 years and 75 days of the requested 
effective date of the eligible entity's classification election.
    Respondents: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 1.

    OMB Number: 1545-1946.
    Type of Review: Revision of a currently approved collection.
    Title: T.D. 9315 (Final) Dual Consolidated Loss Regulations.
    Abstract: This document contains final regulations under section 
1503(d) of the Internal Revenue Code (Code) regarding dual consolidated 
losses. Section 1503(d) generally provides that a dual consolidated 
loss of a dual resident corporation cannot reduce the taxable income of 
any other member of the affiliated group unless, to the extent provided 
in regulations, the loss does not offset the income of any foreign 
corporation. Similar rules apply to losses of separate units of 
domestic corporations. These final regulations address various dual 
consolidated loss issues, including exceptions to the general 
prohibition against using a dual consolidated loss to reduce the 
taxable income of any other member of the affiliated group.
    Respondents: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 2,765.

    OMB Number: 1545-1947.

[[Page 59188]]

    Type of Review: Extension without change of a currently approved 
collection.
    Title: REG-105346-03 (NPRM)--Partnership Equity For Services.
    Abstract: The proposed regulations provide that the transfer of a 
partnership interest in connection with the performance of services is 
subject to section 83 of the Internal Revenue Code (Code) and provide 
rules for coordinating section 83 with partnership taxation principles. 
The proposed regulations also provide that no gain or loss is 
recognized by a partnership on the transfer or vesting of an interest 
in the transferring partnership in connection with the performance of 
services for the transferring partnership.
    Respondents: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 112,500.

    OMB Number: 1545-2207.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Revenue Procedure 2011-26, Additional First Year 
Depreciation Deduction.
    Abstract: This revenue procedure provides guidance under Sec.  
2022(a) of the Small Business Jobs Act of 2010, Public Law 111-240, 124 
Stat. 2504 (September 27, 2010) (SBJA), and Sec.  401(a) and (b) of the 
Tax Relief, Unemployment Insurance Reauthorization, and Job Creation 
Act of 2010, Public Law 111-312, 124 Stat. 3296 (December 17, 2010) 
(TRUIRJCA). Sections 2022(a) of the SBJA and 401(a) of the TRUIRJCA 
amend Sec.  168(k)(2) of the Internal Revenue Code by extending the 
placed-in-service date for property to qualify for the 50-percent 
additional first year depreciation deduction. Section 401(b) of the 
TRUIRJCA amends Sec.  168(k) by adding Sec.  168(k)(5) that temporarily 
allows a 100-percent additional first year depreciation deduction for 
certain new property.
    Respondents: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 125,000.

    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. 2011-24488 Filed 9-22-11; 8:45 am]
BILLING CODE 4830-01-P