[Federal Register Volume 59, Number 50 (Tuesday, March 15, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-5970]


[[Page Unknown]]

[Federal Register: March 15, 1994]


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DEPARTMENT OF THE TREASURY
 

Public Information Collection Requirements Submitted to OMB for 
Review

March 9, 1994.
    The Department of the Treasury has submitted the following public 
information collection requirement(s) to OMB for review and clearance 
under the Paperwork Reduction Act of 1980, Public Law 96-511. Copies of 
the submission(s) may be obtained by calling the Treasury Bureau 
Clearance Officer listed. Comments regarding this information 
collection should be addressed to the OMB reviewer listed and to the 
Treasury Department Clearance Officer, Department of the Treasury, room 
2110, 1425 New York Avenue, NW., Washington, DC 20220.

Internal Revenue Service

    OMB Number: New.
    Form Number: IRS Forms 945, 945-V and 945-A.
    Type of Review: New collection.
    Title: Annual Return of Withheld Federal Income Tax; Annual Record 
of Federal Tax Liability.
    Description: Form 945 is used to report income tax withholding on 
nonpayroll payments including backup withholding and withholding on 
pensions, annuities, IRA's, military retirement, and gambling winnings. 
Form 945-A is used to record nonpayroll tax liabilities.
    Respondents: Individuals or households, State or local governments, 
Farms, Businesses or other for-profit, Federal agencies or employees, 
Non-profit institutions, Small businesses or organizations.
    Estimated Number of Respondents/Recordkeepers: 300,000.
    Estimated Burden Hours Per Respondent/Recordkeeper: 

------------------------------------------------------------------------
                                          Form 945         Form 945-A   
------------------------------------------------------------------------
Recordkeeping.......................  4 hr., 47 min...  8 hr., 37 min.  
Preparing and sending the form to     5 min...........  8 min.          
 the IRS.                                                               
------------------------------------------------------------------------

    Frequency of Response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 1,972,470 hours.
    OMB Number: 1545-0183.
    Form Number: IRS Form 4789.
    Type of Review: Extension.
    Title: Currency Transaction Report.
    Description: Financial institutions are required to file Form 4789 
within 15 days of any transaction of more than $10,000. The information 
is used to check tax compliance.
    Respondents: Businesses or other for-profit.
    Estimated Number of Respondents: 788,871.
    Estimated Burden Hours Per Respondent: Paper--24 minutes; Tape--2 
minutes
    Frequency of Response: On occasion.
    Estimated Total Reporting Burden: 2,185,624 hours.

    OMB Number: 1545-1131.
    Regulation ID Number: INTL-485-89 Final.
    Type of Review: Extension.
    Title: Taxation of Gain or Loss From Certain Nonfunctional Currency 
Transactions (Section 988 Transactions).
    Description: Sections 988(c)(1) (D) and (E) require taxpayers to 
make certain elections which determine whether section 988 applies. In 
addition sections 988(a)(1)(B) and 988(d) require taxpayers to identify 
transactions which generate capital gain or loss of which are hedges of 
other transactions.
    Respondents: Individuals or households, Businesses or other for- 
profit, Small businesses or organizations
    Estimated Number of Respondents: 5,000.
    Estimated Burden Hours Per Respondent: 40 minutes.
    Frequency of Response: Annually.
    Estimated Total Reporting Burden: 3,333 hours.
    Clearance Officer: Garrick Shear, (202) 622-3869, Internal Revenue 
Service, room 5571, 1111 Constitution Avenue, NW., Washington, DC 
20224.
    OMB Reviewer: Milo Sunderhauf, (202) 395-6880, Office of Management 
and Budget, room 3001, New Executive Office Building, Washington, DC 
20503.
Lois K. Holland,
Departmental Reports Management Officer.
[FR Doc. 94-5970 Filed 3-14-94; 8:45 am]
BILLING CODE 4830-01-P