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information shall have practical utility; Title: Proceeds of Bonds Used for Approved: January 24, 2007.
(b) the accuracy of the agency’s estimate Reimbursement. Glenn Kirkland,
of the burden of the collection of OMB Number: 1545–1226. Regulation IRS Reports Clearance Officer.
information; (c) ways to enhance the Project Number: FI–59–89. [FR Doc. E7–1559 Filed 1–31–07; 8:45 am]
quality, utility, and clarity of the Abstract: This regulation clarifies BILLING CODE 4830–01–P
information to be collected; (d) ways to when the allocation of bond proceeds to
minimize the burden of the collection of reimburse expenditures previously
information on respondents, including made by an issuer of the bond is treated DEPARTMENT OF THE TREASURY
through the use of automated collection as an expenditure of the bond proceeds.
techniques or other forms of information The issuer must express a reasonable Internal Revenue Service
technology; and (e) estimates of capital official intent, on or prior to the date of
or start-up costs and costs of operation, payment, to reimburse the expenditure Proposed Collection; Comment
maintenance, and purchase of services in order to assure that the Request for Revenue Procedure 98–25
to provide information. reimbursement is not a device to evade AGENCY: Internal Revenue Service (IRS),
requirements imposed by the Internal Treasury.
Approved: January 25, 2006.
Revenue Code with respect to tax ACTION: Notice and request for
Glenn P. Kirkland,
exempt bonds. comments.
IRS Reports Clearance Officer. Current Actions: There is no change to
[FR Doc. E7–1558 Filed 1–31–07; 8:45 am] this existing regulation. SUMMARY: The Department of the
BILLING CODE 4830–01–P Type of Review: Extension of a Treasury, as part of its continuing effort
currently approved collection. to reduce paperwork and respondent
Affected Public: State, local or tribal burden, invites the general public and
DEPARTMENT OF THE TREASURY governments, and not-for-profit other Federal agencies to take this
institutions. opportunity to comment on proposed
Internal Revenue Service Estimated Number of Respondents: and/or continuing information
[FI–59–89] 2,500. collections, as required by the
Estimated Time Per Respondent: 2 Paperwork Reduction Act of 1995,
Proposed Collection; Comment hours, 24 minutes. Public Law 104–13 (44 U.S.C.
Request for Regulation Project Estimated Total Annual Burden
3506(c)(2)(A)). Currently, the IRS is
Hours: 6,000.
AGENCY: Internal Revenue Service (IRS), The following paragraph applies to all soliciting comments concerning
Treasury. of the collections of 1information Revenue Procedure 98–25, Automatic
covered by this notice: Data Processing.
ACTION: Notice and request for
An agency may not conduct or DATES: Written comments should be
comments.
sponsor, and a person is not required to received on or before April 2, 2007 to
SUMMARY: The Department of the respond to, a collection of information be assured of consideration.
Treasury, as part of its continuing effort unless the collection of information ADDRESSES: Direct all written comments
to reduce paperwork and respondent displays a valid OMB control number. to Glenn Kirkland, Internal Revenue
burden, invites the general public and Books or records relating to a collection Service, room 6516, 1111 Constitution
other Federal agencies to take this of information must be retained as long Avenue, NW., Washington, DC 20224.
opportunity to comment on proposed as their contents may become material FOR FURTHER INFORMATION CONTACT:
and/or continuing information in the administration of any internal Requests for additional information or
collections, as required by the revenue law. Generally, tax returns and copies of the revenue procedure should
Paperwork Reduction Act of 1995, tax return information are confidential, be directed to Allan Hopkins at (202)
Public Law 104–13 (44 U.S.C. as required by 26 U.S.C. 6103. 622–6665, or at Internal Revenue
3506(c)(2)(A)). Currently, the IRS is Request for Comments: Comments Service, room 6516, 1111 Constitution
soliciting comments concerning an submitted in response to this notice will Avenue, NW., Washington, DC 20224,
existing final regulation, FI–59–89 (T.D. be summarized and/or included in the or through the Internet at
8394), Proceeds of Bonds Used for request for OMB approval. All Allan.M.Hopkins@irs.gov.
Reimbursement (§ 1.150–2(e) (originally comments will become a matter of SUPPLEMENTARY INFORMATION:
contained in § 1.104–18(c)). public record. Comments are invited on: Title: Automatic Data Processing.
DATES: Written comments should be (a) Whether the collection of OMB Number: 1545–1595.
received on or before April 2, 2007 to information is necessary for the proper Revenue Procedure Number: Revenue
be assured of consideration. performance of the functions of the Procedure 98–25.
ADDRESSES: Direct all written comments
agency, including whether the Abstract: Revenue Procedure 98–25
to Glenn Kirkland, Internal Revenue information shall have practical utility; provides taxpayers with comprehensive
Service, room 6516, 1111 Constitution (b) the accuracy of the agency’s estimate guidance on requirements for keeping
Avenue, NW., Washington, DC 20224. of the burden of the collection of and providing IRS access to electronic
information; (c) ways to enhance the tax records. The revenue procedure
FOR FURTHER INFORMATION CONTACT:
quality, utility, and clarity of the requires taxpayers to retain electronic,
Requests for additional information or information to be collected; (d) ways to or ‘‘machine-sensible’’ records, ‘‘so long
copies of the regulation should be minimize the burden of the collection of as their contents may become material
directed to Allan Hopkins, at (202) 622– information on respondents, including to the administration of the internal
6665, or at Internal Revenue Service, through the use of automated collection revenue laws.’’ Such materiality would
rwilkins on PROD1PC63 with NOTICES
room 6516, 1111 Constitution Avenue, techniques or other forms of information continue, according to IRS, at least until
NW., Washington, DC 20224, or through technology; and (e) estimates of capital the period of limitations, including
the Internet, at or start-up costs and costs of operation, extensions, expires for each tax year.
Allan.M.Hopkins@irs.gov. maintenance, and purchase of services Type of Review: Extension of a
SUPPLEMENTARY INFORMATION: to provide information. currently approved collection.
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Federal Register / Vol. 72, No. 21 / Thursday, February 1, 2007 / Notices 4771
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