[Federal Register: November 12, 2003 (Volume 68, Number 218)]
[Notices]
[Page 64193-64194]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr12no03-110]
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
[INTL-112-88]
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, Pub. L. 104-13 (44 U.S.C.
3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning an
existing final regulation, INTL-112-88 (TD 8337), Allocation and
Apportionment of Deduction for State Income Taxes (Section 1.861-
8(e)(6)).
DATES: Written comments should be received on or before January 12,
2004 to be assured of consideration.
ADDRESSES: Direct all written comments to R. Joseph Durbala, Internal
Revenue Service, room 6411, 1111 Constitution Avenue NW., Washington,
DC 20224.
FOR FURTHER INFORMATION CONTACT: Requests for additional information or
copies of the regulation should be directed to Larnice Mack at (202) 622-3179, or Larnice.Mack@irs.gov, or Internal Revenue Service, room
6407, 1111 Constitution Avenue NW., Washington, DC 20224.
SUPPLEMENTARY INFORMATION:
Title: Allocation and Apportionment of Deduction for State Income
Taxes.
OMB Number: 1545-1224.
Regulation Project Number: INTL-112-88.
Abstract: This regulation provides guidance on when and how the
deduction for state income taxes is to be allocated and apportioned
between gross income from sources within and without the United States
in order to determine the amount of taxable income from those sources.
The reporting requirements in the regulation affect those taxpayers
claiming foreign tax credits who elect to use an alternative method
from that described in the regulation to allocate and apportion
deductions for state income taxes.
Current Actions: There is no change to this existing regulation.
Type of Review: Extension of a currently approved collection.
[[Page 64194]]
Affected Public: Business or other for-profit organizations.
Estimated Number of Respondents: 1,000.
Estimated Time Per Respondent: 1 hour.
Estimated Total Annual Burden Hours: 1,000.
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 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: November 4, 2003.
R. Joseph Durbala,
IRS Reports Clearance Officer.
[FR Doc. 03-28349 Filed 11-10-03; 8:45 am]
BILLING CODE 4830-01-P