Federal Register: March 16, 2005 (Volume 70, Number 50)
DOCID: FR Doc 05-5230
DEPARTMENT OF THE TREASURY
Internal Revenue Service
REG ID: [REG-209060-86]
DOCUMENT ACTION: Notice and request for comments.
Proposed Collection; Comment Request for Regulation Project
DATES: Written comments should be received on or before May 16, 2005 to be assured of consideration.
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 10413 (44 U.S.C. 3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning an existing notice of final regulation, REG20906086 (TD 8851), Return Requirement for United States Persons Acquiring or Disposing of an Interest in a Foreign Partnership, or Whose Proportional Interest in a Foreign Partnership Changes (Sec. 1.6046A).
Agency information collection activities; proposals, submissions, and approvals,
Title: Return Requirement for United States Persons Acquiring or Disposing of an Interest in a Foreign Partnership, or Whose Proportional Interest in a Foreign Partnership Changes.
OMB Number: 15451646.
Regulation Project Number: REG20906086.
Abstract: Section 6046A requires U.S. persons to provide certain information with respect to the acquisition or disposition of a 10 percent interest in, or a 10percent change in ownership of, a foreign partnership. This regulation provides reporting rules to identify U.S. persons with significant interests in foreign partnerships to ensure the correct reporting of items with respect to these interests.
Current Actions: There is no change to this existing regulation.
Type of Review: Extension of a currently approved collection.
Affected Public: Business or other forprofit organizations, Individuals or households and notforprofit institutions.
The burden is reflected in the burden of Form 8865.
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 startup costs and costs of operation, maintenance, and purchase of services to provide information.
Approved: March 9, 2005.
Glenn P. Kirkland,
IRS Reports Clearance Officer.
[FR Doc. 055230 Filed 31505; 8:45 am]
BILLING CODE 483001P
FOR FURTHER INFORMATION CONTACT
Requests for additional information or
copies of this regulation should be directed to R. Joseph Durbala,
(202) 6223634, Internal Revenue Service, room 6516, 1111 Constitution
Avenue NW., Washington, DC 20224, or through the Internet at