[Federal Register Volume 78, Number 71 (Friday, April 12, 2013)]
[Notices]
[Pages 22037-22038]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2013-08547]


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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 
the limitation on reduction in income tax liability incurred to the 
Virgin Islands (Sec.  1.934-1).

DATES: Written comments should be received on or before June 11, 2013 
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 regulations should be directed to Katherine Dean, (202) 
622-3186, or at Internal Revenue Service, Room 6242, 1111 Constitution 
Avenue NW., Washington DC 20224, or through the Internet, at 
[email protected].

SUPPLEMENTARY INFORMATION:
    Title: Limitation on Reduction in Income Tax Liability Incurred to 
the Virgin Islands.
    OMB Number: 1545-0782.
    Regulation Project Number: TD 6629.
    Abstract: Internal Revenue Code section 934(a)(1954 code) provides 
that the tax liability incurred to the Virgin Islands shall not be 
reduced except to the extent provided in Code section

[[Page 22038]]

934(b) and (c). Taxpayers applying for tax rebates or subsidies under 
section 934 of the 1954 Code must provide certain information in order 
to obtain these benefits.
    Current Actions: There is no change to this existing regulation.
    Type of Review: Extension of currently approved collection.
    Affected Public: Individuals or households and business or other 
for-profit organizations.
    Estimated Number of Respondents: 500.
    Estimated Time Per Respondent/Reporting: 12 minutes.
    Estimated Time Per Respondent/Record-Keeping: 10 minutes.
    Estimated Total Annual Reporting Burden Hours: 100.
    Estimated Total Annual Record-keeping Burden Hours: 85.
    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: March 13, 2013.
Yvette Lawrence,
OMB Reports Clearance Officer.
[FR Doc. 2013-08547 Filed 4-11-13; 8:45 am]
BILLING CODE 4830-01-P