[Federal Register Volume 60, Number 105 (Thursday, June 1, 1995)]
[Notices]
[Pages 28651-28653]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-13417]



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DEPARTMENT OF THE TREASURY

Public Information Collection Requirements Submitted to OMB for 
Review

May 24, 1995.
    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: 1545-0015.
    Form Number: IRS Form 706 and Schedules.
    Type of Review: Extension.
    Title: United States Estate (and Generation-Skipping Transfer) Tax 
Return.
    Description: Form 706 is used by executors to report and compute 
the Federal Estate Tax imposed by Internal Revenue Code (IRC) section 
2001, the Federal Generation-Skipping Transfer (GST) tax imposed by IRC 
section 2601, [[Page 28652]] and the additional Estate Tax imposed by 
Code section 4980A. IRS uses the information to enforce these taxes and 
to verify that the tax has been properly computed.
    Respondents: Individuals or households, Business or other for-
profit.
    Estimated Number of Respondents/Recordkeepers: 65,000.
    Estimated Burden Hours Per Respondent/Recordkeepers:

----------------------------------------------------------------------------------------------------------------
                                                                                                    Copying,    
                                                             Learning about     Preparing the   assemblying, and
               Form/Sched                   Recordkeeping    law of the form        form        sending the form
                                                                                                   to the IRS   
----------------------------------------------------------------------------------------------------------------
706.....................................  2 hr., 11 min...  1 hr., 9 min....  3 hr., 26 min...  49 min.         
Sched. A................................  20 min..........  16 min..........  10 min..........  20 min.         
Sched. A-1..............................  46 min..........  25 min..........  59 min..........  49 min.         
Sched. B................................  20 min..........  10 min..........  11 min..........  20 min.         
Sched. C................................  13 min..........  2 min...........  8 min...........  20 min.         
Sched. D................................  7 min...........  6 min...........  8 min...........  20 min.         
Sched. E................................  40 min..........  7 min...........  24 min..........  20 min.         
Sched. F................................  33 min..........  6 min...........  21 min..........  20 min.         
Sched. G................................  26 min..........  18 min..........  11 min..........  14 min.         
Sched. H................................  26 min..........  6 min...........  10 min..........  14 min.         
Sched. I................................  26 min..........  25 min..........  11 min..........  20 min.         
Sched. J................................  26 min..........  5 min...........  16 min..........  20 min.         
Sched. K................................  26 min..........  9 min...........  10 min..........  20 min.         
Sched. L................................  13 min..........  5 min...........  10 min..........  20 min.         
Sched. M................................  13 min..........  31 min..........  24 min..........  20 min.         
Sched. O................................  20 min..........  9 min...........  18 min..........  17 min.         
Sched. P................................  7 min...........  14 min..........  18 min..........  14 min.         
Sched. Q................................  7 min...........  10 min..........  11 min..........  14 min.         
Sched. Q Worksheet......................  7 min...........  10 min..........  59 min..........  20 min.         
Sched. R................................  20 min..........  34 min..........  1 hr., 1 min....  49 min.         
Sched. R-1..............................  7 min...........  29 min..........  24 min..........  20 min.         
Sched. S................................  26 min..........  22 min..........  37 min..........  25 min.         
Continuation............................  20 min..........  3 min...........  7 min...........  20 min.         
----------------------------------------------------------------------------------------------------------------

    Frequency of Response: On occasion.
    Estimated Total Reporting/Recordkeeping Burden: 1,436,265 hours.
    OMB Number: 1545-0152.
    Form Number: IRS Form 3115 and Schedules.
    Type of Review: Extension.
    Title: Application for Change in Accounting Method.
    Description: Form 3115 is used by taxpayers who wish to change 
their method of computing their taxable income. The form is used by the 
IRS to determine if electing taxpayers have met the requirements and 
are able to change to the method requested.
    Respondents: Business or other for-profit, Individuals or 
households, Farms.
    Estimated Number of Respondents/Recordkeepers: 6,400.
    Estimated Burden Hours Per Respondent/Recordkeeper:

------------------------------------------------------------------------
                                       Learning about     Preparing and 
    Form/Sched.       Recordkeeping    the law or the   sending the form
                                            form           to the IRS   
------------------------------------------------------------------------
3115..............  20 hr., 5 min...  3 hr., 38 min...  5 hr., 20 min.  
Sched. A..........  23 hr., 12 min..  1 hr., 58 min...  3 hr., 38 min.  
Sched. B..........  4 hr., 18 min...  1 hr., 4 min....  2 hr., 23 min.  
Sched. C..........  26 hr., 47 min..  3 hr., 11 min...  3 hr., 45 min.  
Sched. D..........  14 hr., 21 min..  2 hr., 23 min...  2 hr., 44 min . 
------------------------------------------------------------------------

    Frequency of Response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 358,091 hours.

    OMB Number: 1545-0232.
    Form Number: IRS Form 6497.
    Type of Review: Extension.
    Title: Information Return of Nontaxable Energy Grants or Subsidized 
Energy Financing.
    Description: Form 6497 is used by any governmental agency or its 
agents that make nontaxable grants or subsidized financing for energy 
conversation or production programs IRS uses the information from the 
form to ensure that recipients have not claimed tax credits or other 
benefits with respect to the grant or subsidized financing (no ``double 
dipping'').
    Respondents: Business or other for-profit, Federal Government, 
State, Local or Tribal Government.
    Estimated Number of Respondents/Recordkeepers: 250.
    Estimated Burden Hours Per Respondent/Recordkeeper:
    Recordkeeping: 2 hr., 23 min.
    Learning about the law or the form: 18 min.
    Preparing, copying, and sending the form to the IRS: 21 min.
    Frequency of Response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 760 hours.

    OMB Number: 1545-0245.
    Form Number: IRS Form 6627.
    Type of Review: Extension.
    Title: Environmental Taxes.
    Description: Form 6627 is attached to Form 720 to compute and 
collect tax on petroleum, chemicals, imported chemical substances, and 
ozone-depleting chemicals.
    Respondents: Business or other for-profit, Individuals or 
households. [[Page 28653]] 
    Estimated Number of Respondents/Recordkeepers: 2,445.
    Estimated Burden Hours Per Respondent/Recordkeeper:
    Recordkeeping: 21 hr., 2 min.
    Learning about the law or the form: 6 min.
    Preparing, copying, assembling, and sending the form to the IRS: 26 
min.
    Frequency of Response: Quarterly.
    Estimated Total Reporting/Recordkeeping Burden: 33,431 hours.

    OMB Number: 1545-0534.
    Form Number: IRS Form 5303.
    Type of Review: Extension.
    Title: Application for Determination for Collectively Bargained 
Plan.
    Description: IRS uses Form 5303 to get information needed about the 
finances and operation of employee benefit plans set up by employers 
under a collective bargaining agreement. The information obtained on 
Form 5303 is used to make a determination on whether the plan meets the 
requirements to qualify under section 401(a) and whether the related 
trust qualifies for exemption under section 501(a) of the Code.
    Respondents: Business or other for-profit, Individuals or 
households.
    Estimated Number of Respondents/Recordkeepers: 2,500.
    Estimated Burden Hours Per Respondent/Recordkeeper:
    Recordkeeping: 31 hr., 34 min.
    Learning about the law or the form: 5 hr., 50 min.
    Preparing the form: 10 hr., 20 min.
    Copying, assembling, and sending the form to the IRS: 1 hr., 4 min.
    Frequency of Response: On occasion.
    Estimated Total Reporting/Recordkeeping Burden: 122,050 hours.

    OMB Number: 1545-1243.
    Regulation ID Number: PS-163-84 Final.
    Type of Review: Extension.
    Title: Treatment of Transaction Between Partners and Partnerships.
    Description: Section 707(a)(2) provides that if there are transfers 
of money or property between a partner and a partnership, the transfer 
will be treated, in certain situations, as a disguised sale between the 
partner and the partnership. The regulations provide that the partner 
or the partnership should disclose the transfers and certain attendant 
facts in some situations.
    Respondents: Business or other for-profit.
    Estimated Number of Respondents: 7,500.
    Estimated Burden Hours Per Respondent: 20 minutes.
    Frequency of Response: Annually.
    Estimated Total Reporting Burden: 2,500 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. 95-13417 Filed 5-31-95; 8:45 am]
BILLING CODE 4830-01-P