[Federal Register: August 22, 2007 (Volume 72, Number 162)]
[Notices]
[Page 47126-47127]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr22au07-186]
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DEPARTMENT OF THE TREASURY
Submission for OMB Review; Comment Request
August 14, 2007.
The Department of the Treasury has submitted the following public
information collection requirement(s) to OMB for review and clearance
under the Paperwork Reduction Act of 1995, Public Law 104-13. Copies of
the submission(s) may be obtained by calling the Treasury Bureau
Clearance Officer listed. Comments regarding this information
collection should be addressed to the OMB reviewer listed and to the
Treasury Department Clearance Officer, Department of the Treasury, Room
11000, 1750 Pennsylvania Avenue, NW., Washington, DC 20220.
Dates: Written comments should be received on or before September
21, 2007 to be assured of consideration.
Internal Revenue Service (IRS)
OMB Number: 1545-0051.
Type of Review: Extension.
Title: Farmers' Cooperative Association Income Tax Return.
Form: 990-C.
Description: Form 990-C is used by farmers' cooperatives to report
the tax imposed by Internal Revenue Code section 1381. The IRS uses the
information on the form to determine whether the cooperative has
correctly computed and reported its income tax liability.
Respondents: Businesses and other for-profits.
Estimated Total Burden Hours: 856,912 hours.
OMB Number: 1545-1141.
Type of Review: Extension.
Title: Notice 89-102, Treatment of Acquisition of Certain Financial
Institutions; Tax Consequences of Federal Financial Assistance.
Description: Section 597 of the Internal Revenue Code provides that
the Secretary provide guidance concerning the tax consequences of
Federal financial assistance received by qualifying institutions. These
institutions may defer payment of Federal income tax attributable to
the assistance. Required information identifies deferred tax
liabilities.
Respondents: Businesses and other for-profits.
Estimated Total Burden Hours: 125 hours.
OMB Number: 1545-1355.
Type of Review: Extension.
Title: REG-208985-89 (formerly INTL-848-89) (NPRM) Taxable Year of
Certain Foreign Corporations Beginning After July 10, 1989.
Description: Proposed regulations set forth the ``required year''
for ``specified foreign corporations'' for taxable years beginning
after July 10, 1989, and give guidance on which foreign corporations
must change their taxable year and how to effect the change in taxable
year. Specified foreign corporations must conform to the required year
and must state so on Form 5471.
Respondents: Businesses and other for-profits.
Estimated Total Burden Hours: 700 hours.
OMB Number: 1545-1621.
Type of Review: Extension.
Title: W-8BEN, Certificate of Foreign Status of Beneficial Owner
for United States Tax Withholding, W-8ECI, Certificate of Foreign
Person's Claim for Exemption From Withholding on Income.
Form: W-8BEN, W-8ECI, W-8EXP, W-8IMY.
Description: Form W-8BEN is used for certain types of income to
establish that the person is a foreign person, is the
[[Page 47127]]
beneficial owner of the income for which Form W-8BEN is being provided
and, if applicable, to claim a reduced rate of, or exemption from,
withholding as a resident of a foreign country with which the United
States has an income tax treaty. Form W-8ECI is used to establish that
the person is a foreign person, is the beneficial owner of the income
for which Form W-8ECI is being provided, and to claim that the income
is effectively connected with the conduct of a trade or business within
the United States.
Respondents: Businesses and other for-profits.
Estimated Total Burden Hours: 43,280,135 hours.
OMB Number: 1545-1142.
Type of Review: Extension.
Title: INTL-939-86 (NPRM) Insurance Income of a Controlled Foreign
Corporation for Taxable Years Beginning After December 31, 1986.
Description: The information is required to determine the location
of moveable property; allocate income and deductions to the proper
category of insurance income, determine those amounts for computing
taxable income that are derived from an insurance company annual
statement, and permit a CFC to elect to treat related person insurance
income as income effectively connected with the conduct of a U.S. trade
or business. The respondents will be businesses or other for-profit
institutions.
Respondents: Businesses and other for-profits.
Estimated Total Burden Hours: 14,100 hours.
OMB Number: 1545-1886.
Type of Review: Extension.
Title: Revenue procedure 2004-35, Late Spousal S Corp Consents in
Community Property States.
Description: This revenue procedure requires the collection of
certain information in order for the taxpayer to gain relief for late
shareholder consents for Subchapter S elections. The information is
designed to make sure that applications for relief meet the
requirements set out in the revenue procedure.
Respondents: Businesses and other for-profits.
Estimated Total Burden Hours: 500 hours.
OMB Number: 1545-1243.
Type of Review: Revision.
Title: PS-163-84 (Final) Treatment of Transactions between Partners
and Partnerships.
Description: Section 707(a)(2) provides that if there is a transfer
of money or property by a partner to a partnership, the transfer will
be treated, in certain situations, as a disguised sale between the
partner and the partnership. The regulations provide that the partner
or the partnership should disclose the transfers and certain attendant
facts in some situations.
Respondents: Businesses and other for-profits.
Estimated Total Burden Hours: 2,500 hours.
OMB Number: 1545-1051.
Type of Review: Extension.
Title: INTL-29-91 (Final) Computation and Characterization of
Income and Earnings and Profits under the Dollar Approximate Separate
Transactions Method of Accounting (DASTM).
Description: For taxable years after the final regulations are
effective, taxpayers operating in hyperinflationary currencies must use
the U.S. dollar as their functional currency and compute income using
the dollar approximate separate transactions method (DASTM). Small
taxpayers may elect an alternate method by which to compute income or
loss. For prior taxable years in which income was computed using the
profit and loss method, taxpayers may elect to re-compute their income
using DASTM.
Respondents: Businesses or other for-profits.
Estimated Total Burden Hours: 1,000 hours.
OMB Number: 1545-0245.
Type of Review: Extension.
Title: Environmental Taxes.
Form: 6627.
Description: Form 6627 is used to figure the environmental tax on
ozone-depleting chemicals (ODCS), imported products that used ODCs as
materials in the manufacture or production of the product, and the
floor stocks tax ODCs. Sections 4681 and 4682 impose a tax on ODCs and
imported products containing ODCs.
Respondents: Businesses and other for-profits.
Estimated Total Burden Hours: 8,006 hours.
Clearance Officer, Glenn P. Kirkland, (202) 622-3428, Internal
Revenue Service, Room 6516, 1111 Constitution Avenue, NW., Washington,
DC 20224.
OMB Reviewer: Alexander T. Hunt, (202) 395-7316, Office of
Management and Budget, Room 10235, New Executive Office Building,
Washington, DC 20503.
Robert Dahl,
Treasury PRA Clearance Officer.
[FR Doc. 07-4099 Filed 8-21-07; 8:45 am]
BILLING CODE 4830-01-M