[Federal Register Volume 77, Number 77 (Friday, April 20, 2012)]
[Notices]
[Pages 23809-23810]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2012-9609]


-----------------------------------------------------------------------

DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Notice 2005-64

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

-----------------------------------------------------------------------

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 
Notice 2005-64, Foreign Tax Credit and Other Guidance under Section 
965.

DATES: Written comments should be received on or before June 19, 2012 
to be assured of consideration.

ADDRESSES: Direct all written comments to Yvette 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 form and instructions should be directed to Allan 
Hopkins, (202) 622-6665, at Internal Revenue Service, Room 6129, 1111 
Constitution Avenue NW., Washington, DC 20224, or through the internet 
at [email protected].

SUPPLEMENTARY INFORMATION:
    Title: Foreign Tax Credit and Other Guidance under Section 965.
    OMB Number: 1545-1957.
    Form Number: Notice 2005-64.
    Abstract: This notice supplements the guidance set forth in Notice 
2005-10, 2005-6 I.R.B. 474, which primarily addressed the requirements 
for a domestic reinvestment plan described in section 965(b)(4), and 
Notice 2005-38, 2005-22 I.R.B. 1100, which primarily addressed the 
limitations described in section 965(b)(1), (2), and (3) on the amount 
of dividends eligible for the dividends received deduction under 
section 965(a), including the effects of certain acquisitions, 
dispositions, and similar transactions on those limitations. This 
notice sets forth guidance on various issues arising under section 965, 
including issues relating to the foreign tax credit and minimum tax 
credit, expense allocation and apportionment, and currency translation.
    Current Actions: There is no change in the paperwork burden 
previously approved by OMB. This form is being submitted for renewal 
purposes only.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Businesses and other for-profit organizations.
    Estimated Number of Respondents: 25,000.
    Estimated Time per Respondent: 10 hours.
    Estimated Total Annual Burden Hours: 250,000.
    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

[[Page 23810]]

be summarized and/or included in the request for OMB approval. 
Allcomments 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 
ofinformation 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: April 17, 2012.
Allan Hopkins,
Tax Analyst.
[FR Doc. 2012-9609 Filed 4-19-12; 8:45 am]
BILLING CODE P