The Federal Register

Agency Information Collection Activities: Proposed Information Collection; Comment Request

Tue, Jun 24 2008 11:00:00 GMT

The OCC, 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 a continuing information collection, as required by the Paperwork Reduction Act of 1995. An agency may not conduct or sponsor, and a respondent is not required to respond to, an information collection unless it displays a currently valid OMB control number. The OCC is soliciting comment concerning its information collection titled, ``Fair Housing Home Loan Data System Regulation12 CFR 27.''

Guidance Under Section 956 for Determining the Basis of Property Acquired in Certain Nonrecognition Transactions

Tue, Jun 24 2008 11:00:00 GMT

This document contains final and temporary regulations under section 956 of the Internal Revenue Code (Code) regarding the determination of basis in certain United States property (within the meaning of section 956(c) of the Code) acquired by a controlled foreign corporation in certain nonrecognition transactions that are intended to repatriate earnings and profits of the controlled foreign corporation without United States income taxation. The final regulation adds a cross reference to the temporary regulations. These regulations affect United States shareholders of a controlled foreign corporation that acquires United States property in certain nonrecognition transactions. The text of the temporary regulations serves as the text of the proposed regulations (REG10212208) set forth in the notice of proposed rulemaking published in the Proposed Rules section in this issue of the Federal Register.

Guidance Under Section 664 Regarding the Effect of Unrelated Business Taxable Income on Charitable Remainder Trusts

Tue, Jun 24 2008 11:00:00 GMT

This document contains final regulations that provide guidance under Internal Revenue Code (Code) section 664 on the tax effect of unrelated business taxable income (UBTI) on charitable remainder trusts. The regulations reflect the changes made to section 664(c) by section 424(a) and (b) of the Tax Relief and Health Care Act of 2006. The regulations affect charitable remainder trusts that have UBTI in taxable years beginning after December 31, 2006.

Guidance Under Section 956 for Determining the Basis of Property Acquired in Certain Nonrecognition Transactions

Tue, Jun 24 2008 11:00:00 GMT

In the Rules and Regulations section of this issue of the Federal Register, the IRS and the Treasury Department are issuing temporary regulations under section 956 of the Internal Revenue Code (Code) relating to the determination of basis in property acquired by a controlled foreign corporation in certain nonrecognition transactions that are intended to avoid United States income tax. Those regulations affect United States shareholders of a controlled foreign corporation that acquires United States property in certain nonrecognition transactions. The text of those regulations also serves as the text of these proposed regulations.

Joint-Federal Retirement Thrift Investment Board/Employee Thrift Advisory Counsil Meeting; Sunshine Act; Notice of

Tue, Jun 24 2008 11:00:00 GMT

Time and Date: 9 a.m. (Eastern Time), June 30, 2008.
Place: 2nd Floor Training Room, 1250 H Street, NW., Washington, DC 20005.
Status: Parts will be open to the public and parts closed to the public.
Matters to be Considered:

Parts Open to the Public

1. Approval of the minutes of the May 19, 2008 Board member meeting.

2. Approval of the minutes of the December 19, 2007 ETAC meeting.

3. Thrift Savings Plan activity report by the Executive Director.

a. Participant Activity Report.

b. Investment Performance Report.

4. New Business.

a. TSP System Modernization.

b. Congressional discussion draft on (1) automatic enrollment, (2) L Fund default option, (3) Roth account option, (4) Board authority to add funds or create a selfdirected mutual fund window.

c. Allowing a spousal beneficiary to inherit and maintain a TSP account.

Parts Closed to the Public

5. Procurement/Confidential Vendor Financial Data.

6. Security.