The Federal Register

Information Reporting for Lump-Sum Timber Sales

Thu, Nov 29 2007 11:00:00 GMT

This document contains proposed regulations that provide guidance regarding the information reporting requirements contained in section 6045(e) of the Internal Revenue Code (Code) on sales or exchanges of standing timber for lumpsum (outright) payments. The proposed regulations amend Sec. 1.60454 of the Income Tax Regulations to require real estate reporting persons, as defined in section 6045(e)(2) of the Code, to report lumpsum payments received by sellers (landowners) for sales or exchanges of standing timber. This action is being
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taken to make the reporting requirements for lumpsum sales of standing timber consistent with the reporting requirements applicable to payas cut timber sales. The proposed regulations do not change the information reporting requirements that currently apply to sales or exchanges of standing timber for payascut (contingent) payments under section 6050N of the Code.

Partner's Distributive Share; Hearing

Thu, Nov 29 2007 11:00:00 GMT

This document cancels a public hearing on proposed regulations providing rules concerning the application of sections 704(c)(1)(B) and 737 to distributions of property after two partnerships engage in an assetsover merger. The proposed regulations affect partnerships and their partners.

Submission for OMB Review; Comment Request

Thu, Nov 29 2007 11:00:00 GMT

November 20, 2007.

The Department of Treasury will submit the following public information collection requirement(s) to OMB for review and clearance under the Paperwork Reduction Act of 1995, Public Law 10413 on or after the date of publication of this notice. 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.

Submission for OMB Review; Comment Request

Thu, Nov 29 2007 11:00:00 GMT

November 20, 2007.

Government Securities: Call for Large Position Reports

Thu, Nov 29 2007 11:00:00 GMT

The Department of the Treasury (``Department'' or ``Treasury'') called for the submission of Large Position Reports by those entities whose reportable positions in the 3\7/8\% Treasury Notes of October 2012 equaled or exceeded $2 billion as of close of business November 26, 2007.