[Federal Register Volume 59, Number 173 (Thursday, September 8, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-22110]


[[Page Unknown]]

[Federal Register: September 8, 1994]


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DEPARTMENT OF THE TREASURY
 

Public Information Collection Requirements Submitted to OMB for 
Review

September 1, 1994.
    The Department of 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 (IRS)

OMB Number: 1545-0241
Form Number: IRS Form 6177
Type of Review: Extension
Title: General Assistance Program Determination
Description: Internal Revenue Code (IRC) section 51 gives employers a 
jobs credit for hiring certain general assistance (welfare) program 
recipients. IRC section 51(d)(6)(B) requires that the state or local 
general assistance program be certified as a qualified program. The 
information on Form 6177 is used to determine if a program is 
qualified.
Respondents: State or local governments
Estimated Number of Respondents: 1,500
Estimated Burden Hours Per Respondent: 10 minutes
Frequency of Response: On occasion
Estimated Total Reporting Burden: 250 hours

OMB Number: 1545-0956
Form Number: IRS Form 5500-EZ
Type of Review: Revision
Title: Annual Return of One-Participant (Owners and Their Spouses) 
Pension Benefit Plan
Description: Form 5500-EZ is an annual return filed by a one-
participant or one-participant and spouse pension plan. The IRS uses 
this data to determine if the plan appears to be operating properly as 
required under the law or whether the plan should be audited.
Respondents: Farms, Businesses or other for-profit, Small businesses or 
organizations
Estimated Number of Respondents/Recordkeepers: 50,000
Estimated Burden Hours Per Respondent/Recordkeeper:
    Recordkeeping--11 hr., 29 min.
    Learning about the law or the form--1 hr., 4 min.
    Preparing the form--2 hr., 14 min.
    Copying, assembling and sending the form to the IRS--16 min.
Frequency of Response: Annually
Estimated Total Reporting/Recordkeeping Burden: 752,000 hours

OMB Number: 1545-1034
Form Number: IRS Form 8582-CR
Type of Review: Revision
Title: Passive Activity Credit Limitations
Description: Under section 469, credits from passive credits from 
passive activities, to the extent they do not exceed the tax 
attributable to net passive income are not allowed. Form 8582-CR issued 
to figure the passive activity credit allowed and the amount of credit 
to be reported on the tax return. Worksheets 1, 2, 3, and 4 of Form 
8582-CR and worksheets 5 through 9 are used to allocate the credits 
allowed to the individual activities.
Respondents: Individuals or households, Farms, Businesses or other for-
profit
Estimated Number of Respondents/Recordkeepers: 900,000
Estimated Burden Hours Per Respondent/Recordkeeper:
    Recordkeeping--2 hr., 5 min.
    Learning about the law or the form--4 hr., 9 min.
    Preparing the form--3 hr., 6 min.
    Copying, assembling and sending the form to the IRS--2 hr., 11 min.
Frequency of Response: Annually
Estimated Total Reporting/Recordkeeping Burden: 5,402,700 hours

OMB Number: 1545-1035
Form Number: IRS Form 8611
Type of Review: Extension
Title: Recapture of Low-Income Housing Credit
Description: Internal Revenue Code (IRC) section 42 permits owners of 
residential rentals projects providing low-income housing to claim a 
credit against their income tax. If the property is disposed of or it 
fails to meet certain requirements over a 15-year compliance period and 
a bond is not posted, the owner must recapture on Form 8611 part of the 
credit(s) taken in prior years.
Respondents: Individuals or households, Businesses or other for-profit, 
Small businesses or organizations
Estimated Number of Respondents/Recordkeepers: 1,200
Estimated Burden Hours Per Respondent/Recordkeeper:
    Recordkeeping--5 hr., 59 min.
    Learning about the law or the form--1 hr., 5 min.
    Preparing and sending the form to the IRS--1 hr., 14 min.
Frequency of Response: On occasion
Estimated Total Reporting/Recordkeeping Burden: 9,972 hours

OMB Number: 1545-1110
Form Number: IRS Form 940-EZ
Type of Review: Revision
Title: Employer's Annual Federal Unemployment (FUTA) Tax Return
Description: Form 940-EZ is a simplified form that most employers with 
uncomplicated tax situations (e.g., only pay unemployment contributions 
to one state and paying them on time) can use to pay their FUTA tax. 
Most small businesses and household employers use the form.
Respondents: Individuals or households, Farms, Businesses or other for-
profit, Small businesses or organizations
Estimated Number of Respondents/Recordkeepers: 4,089,000
Estimated Burden Hours Per Respondent/Recordkeeper:
    Recordkeeping--6 hr., 23 min.
    Learning about the law or the form--7 min.
    Preparing and sending the form to the IRS--34 min.
Frequency of Response: Annually
Estimated Total Reporting/Recordkeeping Burden: 26,882,133 hours

OMB Number: 1545-1282
Form Number: IRS Form 8830
Type of Review: Extension
Title: Enhanced Oil Recovery Credit
Description: The enhanced oil recovery (EOR) credit is 15% of qualified 
costs paid or incurred during the year. The purpose is to get more oil 
from the wells. The IRS uses the information on the form of ensure that 
the credit is correctly computed.
Respondents: Individuals or households, Businesses or other for- 
profit, Small businesses or organizations
Estimated Number of Respondents/Recordkeepers: 10,000
Estimated Burden Hours Per Respondent/Recordkeeper:
    Recordkeeping--5 hr., 16 min.
    Learning about the law or the form--47 min.
    Preparing and sending the form to the IRS--55 min.
Frequency of Response: Annually
Estimated Total Reporting/Recordkeeping Burden: 71,700 hours
Clearance Officer: Garrick Shear (202) 622-3869, Internal Revenue 
Service, Room 5571, 1111 Constitution Avenue, N.W., Washington, DC 
20224
OMB Reviewer: Milo Sunderhauf (202) 395-7340, Office of Management and 
Budget, Room 10226, New Executive Office Building, Washington, DC 
20503.
Lois K. Holland,
Departmental Reports, Management Officer.
[FR Doc. 94-22110 Filed 9-7-94; 8:45 am]
BILLING CODE 4830-01-P