[Federal Register Volume 59, Number 181 (Tuesday, September 20, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-23236]


[[Page Unknown]]

[Federal Register: September 20, 1994]


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DEPARTMENT OF THE TREASURY
 

Public Information Collection Requirements Submitted to OMB for 
Review

September 14, 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: 1545-0046.
Form Number: IRS Form 982.
Type of Review: Revision.
Title: Reduction of Tax Attributes Due to Discharge of Indebtedness.
Description: Internal Revenue Code (IRC) section 108 allows taxpayers 
to exclude from gross income amounts attributable to discharge of 
indebtedness in title 11 cases, insolvency or a qualified farm 
indebtedness. Section 1081(b) allows corporations to exclude from gross 
income amounts attributable to certain transfers of property. The data 
is used to verify adjustments to basis of property and reduction of tax 
attributes.
Respondents: Individuals or households, Businesses or other for- 
profit, Small businesses or organizations.
Estimated Number of Respondents/Recordkeepers: 1,000.
Estimated Burden Hours Per Respondent/Recordkeeper: 

Recordkeeping.....................................  5 hr., 16 min.      
Learning about the law or the form................  1 hr., 53 min.      
Preparing and sending the form to the IRS.........  2 hr., 4 min.       
                                                                        

Frequency of Response: On occasion.
Estimated Total Reporting/Recordkeeping Burden: 9,210 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) 395-7340, Office of Management and 
Budget, Room 10226, New Executive Office Building, Washington, DC 
20503.
Lois K. Holland,
Departmental Reports, Management Officer.
[FR Doc. 94-23236 Filed 9-19-94; 8:45 am]
BILLING CODE 4830-01-P