[Federal Register Volume 76, Number 188 (Wednesday, September 28, 2011)]
[Notices]
[Pages 60127-60128]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2011-24858]


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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

September 22, 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 27, 
2011 to be assured consideration.

Internal Revenue Service (IRS)

    OMB Number: 1545-0863.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: LR-218-78 (Final) Product Liability Losses and Accumulations 
for Product Liability Losses.
    Abstract: Generally, a taxpayer who sustains a product liability 
loss must carry the loss back 10 years. However, a taxpayer may elect 
to have such loss treated as a regular net operating loss under section 
172. If desired, such election is made by attaching a statement to the 
tax return. This statement will enable the IRS to monitor compliance 
with the statutory requirements.
    Respondents: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 2,500.

    OMB Number: 1545-1647.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Revenue Procedure 2001-21 Debt Roll-Ups.
    Abstract: This revenue procedure provides for an election that will 
facilitate the consolidation of two or more outstanding debt 
instruments into a single debt instrument. Under the

[[Page 60128]]

election, taxpayers can treat certain exchanges of debt instruments as 
realization events for federal income tax purposes even though the 
exchanges do not result in significant modifications under 1.1001-33 of 
the Income Tax Regulations.
    Respondents: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 75.

    OMB Number: 1545-1650.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: REG-208156-91 (Final) Accounting for Long-Term Contracts.
    Abstract: The information collected is required to notify the 
Commissioner of a taxpayer's decision to sever or aggregate one or more 
long-term contracts under the regulations. The statement is needed so 
the Commissioner can determine whether the taxpayer properly severed or 
aggregated its contract(s). The regulations affect any taxpayer that 
manufactures or constructs property under long-term contracts.
    Respondents: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 12,500.

    OMB Number: 1545-1945.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: TD 9328 (Final) Safe Harbor for Valuation Under Section 475.
    Abstract: This document sets forth an elective safe harbor that 
permits dealers in securities and dealers in commodities to elect to 
use the values of positions reported on certain financial statements as 
the fair market values of those positions for purposes of section 475 
of the Internal Revenue Code (Code). This safe harbor is intended to 
reduce the compliance burden on taxpayers and to improve the 
administrability of the valuation requirement of section 475 for the 
IRS.
    Respondents: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 49,232.

    OMB Number: 1545-2118.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Form 13562, Health Coverage Tax Credit (HCTC) General 
Registration Information Form; Form 13929, Health Coverage Tax Credit 
(HCTC) Paper Check Request.
    Forms: 13562 and 13929.
    Abstract: These forms are used to help manage the HCTC program. 
Health plan administrators will use these forms to submit requests of; 
changes to their account information, waivers from the Federal 
requirement that mandates all payments to be made via Electronic Funds 
Transfer (EFT), and to provide the required registration information 
into the HCTC program.
    Respondents: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 875.

    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. 2011-24858 Filed 9-27-11; 8:45 am]
BILLING CODE 4810-01-P