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Federal Register / Vol. 72, No.

22 / Friday, February 2, 2007 / Notices 5103

issue, and did not provide an deduction for state income taxes is to be OMB Number: 1545–1093.
independent basis for the agency’s allocated and apportioned between Title: IA–56–87 and IA–53–87 Final
determining how granting Morgan’s gross income from sources within and Minimum Tax—Tax Benefit Rule.
petition for the traditional roadster without the United States in order to Type of Review: Extension.
would be in the public interest. determine the amount of taxable income Description: Section 58(h) of the 1954
Authority: 49 U.S.C. 30113; delegations of from those sources. The reporting Internal Revenue Code provides that the
authority at 49 CFR 1.50. and 501.8. requirements in the regulation affect Secretary shall provide for adjusting tax
those taxpayers claiming foreign tax preference items where such items
Issued on: January 30, 2007.
credits who elect to use an alternative provided no tax benefit for any taxable
Nicole R. Nason, year. This regulation provides guidance
method from that described in the
Administrator. regulation to allocate and apportion for situations where tax preference
[FR Doc. E7–1735 Filed 2–1–07; 8:45 am] deductions for state income taxes. items provided no tax benefit because of
BILLING CODE 4910–59–P Respondents: Businesses and other available credits and describes how to
for-profit institutions. claim a credit or refund of minimum tax
Estimated Total Burden Hours: 1,000 paid on such preferences.
DEPARTMENT OF THE TREASURY hours. Respondents: Businesses and other
OMB Number: 1545–0159. for-profit institutions.
Submission for OMB Review; Title: Annual Return To Report Estimated Total Burden Hours: 40
Comment Request Transactions With Foreign Trusts and hours.
January 26, 2007. Receipts of Certain Foreign Gifts. OMB Number: 1545–1871.
The Department of the Treasury has Type of Review: Extension. Title: REG–122379–02 Regulations
submitted the following public Form: 352. Governing Practice Before the Internal
information collection requirement(s) to Description: Form 3520 is filed by Revenue Service.
OMB for review and clearance under the U.S. persons who create a foreign trust, Type of Review: Extension.
Paperwork Reduction Act of 1995, transfer property to a foreign trust, Description: These disclosures will
Public Law 104–13. Copies of the receive a distribution from a foreign ensure that taxpayers are provided with
submission(s) may be obtained by trust, or receive a large gift from a adequate information regarding the
calling the Treasury Bureau Clearance foreign source. IRS uses the form to limits of tax shelter advice that they
Officer listed. Comments regarding this identify the U.S. persons who may have receive, and also ensure that
information collection should be transactions that may trigger a taxable practitioners properly advise of
addressed to the OMB reviewer listed event in the future. taxpayers of relevant information with
and to the Treasury Department Respondents: Businesses and other respect to tax shelter opinions.
Clearance Officer, Department of the for-profit institutions. Respondents: Businesses and other
Treasury, Room 11000, 1750 Estimated Total Burden Hours: 71,742 for-profit institutions.
Pennsylvania Avenue, NW., hours. Estimated Total Burden Hours: 13,333
Washington, DC 20220. OMB Number: 1545–1458. hours.
DATES: Written comments should be
Title: REG–209835–86 (formerly Clearance Officer: Glenn P. Kirkland,
received on or before March 5, 2007 to INTL–933–86) (Final) Computation of (202) 622–3428, Internal Revenue
be assured of consideration. Foreign Taxes Deemed Paid Under Service, Room 6516, 1111 Constitution
Section 902 Pursuant to a Pooling Avenue, NW., Washington, DC 20224.
Internal Revenue Service (IRS) Mechanism for Undistributed Earnings OMB Reviewer: Alexander T. Hunt,
OMB Number: 1545–1566. and Foreign Taxes. (202) 395–7316, Office of Management
Type of Review: Extension. Type of Review: Extension. and Budget, Room 10235, New
Title: Notice 97–66, Certain Payments Description: These regulations Executive Office Building, Washington,
Made Pursuant to a Securities Lending provide rules for computing foreign DC 20503.
Transaction. taxes deemed paid under section 902.
Robert Dahl,
Description: Notice 97–66 modifies The regulations affect foreign
corporations and their U.S. corporate Treasury PRA Clearance Officer.
final regulations which are effective
shareholders. [FR Doc. E7–1687 Filed 2–1–07; 8:45 am]
November 14, 1997. The Notice relaxes
the statement requirement with respect Respondents: Businesses or other for- BILLING CODE 4830–01–P

to substitute interest payments relating profit institutions.


to securities loans and repurchased Estimated Total Burden Hours: 1
transactions. It also provides a hour. DEPARTMENT OF THE TREASURY
withholding mechanism to eliminate OMB Number: 1545–1856.
excessive withholding on multiple Title: Consent To Disclosure of Return Internal Revenue Service
payments in a chain of substitute Information. Quarterly Publication of Individuals,
dividend payments. Type of Review: Extension. Who Have Chosen To Expatriate, as
Respondents: Businesses and other Form: 13362. Required by Section 6039G
for-profit institutions. Description: The Consent Form is
Estimated Total Burden Hours: 61,750 provided to external applicant that will AGENCY: Internal Revenue Service (IRS),
hours. allow the Service the ability to conduct Treasury.
OMB Number: 1545–1224. tax checks to determine if an applicant ACTION: Notice.
Type of Review: Extension. is suitable for employment once they are
sroberts on PROD1PC70 with NOTICES

Title: INTL–112–88 (Final) Allocation determined qualified and within reach SUMMARY: This notice is provided in
and Apportionment of Deduction for to receive an employment offer. accordance with IRC section 6039G, as
State Income Taxes. Respondents: Federal Government. amended, by the Health Insurance
Description: This regulation provides Estimated Total Burden Hours: 7,664 Portability and Accountability Act
guidance on when and how the hours. (HIPPA) of 1996. This listing contains

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