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Federal Register / Vol. 73, No.

30 / Wednesday, February 13, 2008 / Notices 8405

Estimated Time Per Respondent: 12 opportunity to comment on proposed unless the collection of information
Minutes. and/or continuing information displays a valid OMB control number.
Estimated Total Annual Burden collections, as required by the Books or records relating to a collection
Hours: 100. Paperwork Reduction Act of 1995, of information must be retained as long
The following paragraph applies to all Public Law 104–13 (44 U.S.C. as their contents may become material
of the collections of information covered 3506(c)(2)(A)). Currently, the IRS is in the administration of any internal
by this notice: soliciting comments concerning an revenue law. Generally, tax returns and
An agency may not conduct or existing final regulation, PS–264–82 (TD tax return information are confidential,
sponsor, and a person is not required to 8508), Adjustments to Basis of Stock as required by 26 U.S.C. 6103.
respond to, a collection of information and Indebtedness to Shareholders of S Request for Comments: Comments
unless the collection of information Coprorations and Treatment of submitted in response to this notice will
displays a valid OMB control number. Distributions by S Corporations to be summarized and/or included in the
Books or records relating to a collection Shareholders. (Regulation §§ 1.1367– request for OMB approval. All
of information must be retained as long 1(f), 1.1368–1(f), 1.1368–1(g).) comments will become a matter of
as their contents may become material DATES: Written comments should be public record. Comments are invited on:
in the administration of any internal received on or before April 14, 2008 to (a) Whether the collection of
revenue law. Generally, tax returns and be assured of consideration. information is necessary for the proper
tax return information are confidential, performance of the functions of the
ADDRESSES: Direct all written comments
as required by 26 U.S.C. 6103. agency, including whether the
to Glenn P. Kirkland, Internal Revenue
Request for Comments: Comments information shall have practical utility;
Service, room 6129, 1111 Constitution
submitted in response to this notice will (b) the accuracy of the agency’s estimate
Avenue, NW., Washington, DC 20224.
be summarized and/or included in the of the burden of the collection of
FOR FURTHER INFORMATION CONTACT: information; (c) ways to be collected; (d)
request for OMB approval. All
Requests for additional information or ways to minimize the burden of the
comments will become a matter of
copies of the regulations should be collection of information on
public record. Comments are invited on:
directed to R. Joseph Durbala at Internal respondents, including through the use
(a) Whether the collection of
Revenue Service, room 6129, 1111 of automated collection techniques or
information is necessary for the proper
Constitution Avenue, NW., Washington, other forms of information technology;
performance of the functions of the
DC 20224, or at (202) 622–3634, or and (e) estimates of capital or start-up
agency, including whether the
through the Internet at costs and costs of operation,
information shall have practical utility;
RJoseph.Durbala@irs.gov. maintenance, and purchase of services
(b) the accuracy of the agency’s estimate
of the burden of the collection of SUPPLEMENTARY INFORMATION: to provide information.
information; (c) ways to enhance the Title: Adjustments to Basis of Stock Approved: February 5, 2008.
quality, utility, and clarity of the and Indebtedness to Shareholders of S Glenn P. Kirkland,
information to be collected; (d) ways to Corporations and Treatment of
IRS Reports Clearance Officer.
minimize the burden of the collection of Distributions by S Corporations to
Shareholders. [FR Doc. E8–2593 Filed 2–12–08; 8:45 am]
information on respondents, including BILLING CODE 4830–01–P
through the use of automated collection OMB Number: 1545–1139.
techniques or other forms of information Regulation Project Number: PS–264–
technology; and (e) estimates of capital 82.
Abstract: The regulation provides the DEPARTMENT OF THE TREASURY
or start-up costs and costs of operation,
maintenance, and purchase of services procedures and the statements to be Internal Revenue Service
to provide information. filed by S corporations for making the
election provided under Internal Proposed Collection; Comment
Approved: February 6, 2008. Revenue Code section 1368, and by Request for Form 8842.
Glenn P. Kirkland, shareholders who choose to reorder
IRS Reports Clearance Officer. items that decrease their basis. AGENCY: Internal Revenue Service (IRS),
[FR Doc. E8–2592 Filed 2–12–08; 8:45 am] Statements required to be filed will be Treasury.
BILLING CODE 4830–01–P used to verify that taxpayers are ACTION: Notice and request for
complying with the requirements comments.
imposed by Congress.
SUMMARY: The Department of the
DEPARTMENT OF THE TREASURY Current Actions: There is no change to
Treasury, as part of its continuing effort
this existing regulation.
Internal Revenue Service Type of Review: Extension of to reduce paperwork and respondent
currently approved collection. burden, invites the general public and
[PS–264–82] other Federal agencies to take this
Affected Public: Business or other for-
profit organizations and individuals. opportunity to comment on proposed
Proposed Collection; Comment and/or continuing information
Request for Regulation Project Estimated Number of Respondents:
2,000. collections, as required by the
AGENCY: Internal Revenue Service (IRS), Estimated Time Per Respondent: 6 Paperwork Reduction Act of 1995,
Treasury. minutes. Public Law 104–13 (44 U.S.C.
ACTION: Notice and request for Estimated Total Annual Burden 3506(c)(2)(A)). Currently, the IRS is
comments. Hours: 200. soliciting comments concerning Form
The following paragraph applies to all 8842, Election To Use Different
rwilkins on PROD1PC63 with NOTICES

SUMMARY: The Department of the of the collections of information covered Annualization Periods for Corporate
Treasury, as part of its continuing effort by this notice: Estimated Tax.
to reduce paperwork and respondent An agency may not conduct or DATES: Written comments should be
burden, invites the general public and sponsor, and a person is not required to received on or before April 14, 2008 to
other Federal agencies to take this respond to, a collection of information be assured of consideration.

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