[Federal Register Volume 63, Number 25 (Friday, February 6, 1998)]
[Notices]
[Page 6265]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-3081]
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
[CO-24-95 and CO-11-91]
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, Public Law 104-13 (44 U.S.C.
3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning
existing final regulations, CO-24-95 (TD 8660), Consolidated Groups--
Intercompany Transactions and Related Rules, and CO-11-91 (TD 8597),
Consolidated Groups and Controlled Groups--Intercompany Transactions
and Related Rules (Sec. 1.1502-13).
DATES: Written comments should be received on or before April 7, 1998
to be assured of consideration.
ADDRESSES: Direct all written comments to Garrick R. Shear, Internal
Revenue Service, room 5571, 1111 Constitution Avenue NW., Washington,
DC 20224.
FOR FURTHER INFORMATION CONTACT: Requests for additional information or
copies of the information collection should be directed to Carol
Savage, (202) 622-3945, Internal Revenue Service, room 5569, 1111
Constitution Avenue NW., Washington, DC 20224.
SUPPLEMENTARY INFORMATION:
Title: CO-24-95, Consolidated Groups--Intercompany Transactions and
Related Rules, and CO-11-91, Consolidated Groups and Controlled
Groups--Intercompany Transactions and Related Rules.
OMB Number: 1545-1433.
Regulation Project Numbers: CO-11-91 and CO-24-95.
Abstract: The regulations require common parents that make
elections under regulation section 1.1502-13 to provide certain
information. The information will be used to identify and assure that
the amount, location, timing and attributes of intercompany
transactions and corresponding items are properly maintained.
Affected Public: Business or other for-profit organizations.
Estimated Number of Respondents: 2,200.
Estimated Time Per Respondent: 29 minutes.
Estimated Total Annual Burden Hours: 1,050.
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: January 30, 1998.
Garrick R. Shear,
IRS Reports Clearance Officer.
[FR Doc. 98-3081 Filed 2-5-98; 8:45 am]
BILLING CODE 4830-01-U
