[Federal Register Volume 60, Number 152 (Tuesday, August 8, 1995)]
[Notices]
[Pages 40408-40409]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-19458]



-----------------------------------------------------------------------


DEPARTMENT OF THE TREASURY

Public Information Collection Requirements Submitted to OMB for 
Review

July 31, 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: 1545-0191.
    Form Number: IRS Form 4952.
    Type of Review: Extension.
    Title: Investment Interest Expense Deduction.
    Description: Form 4952 is used by taxpayers who paid or accrued 
interest on money borrowed to purchase or carry investment property. 
The form is used to compute the allowable deduction for interest on 
investment indebtedness and the information obtained is necessary to 
verify the amount actually deducted.
    Respondents: Individuals or households, Business or other for-
profit.
    Estimated Number of Respondents/Recordkeepers: 800,000.
    Estimated Burden Hours Per Respondent/Recordkeeper:

    Recordkeeping--13 min.
    Learning about the law or the form--15 min.
    Preparing the form--21 min.
    Copying, assembling, and sending the form to the IRS--10 min.

    Frequency of Response: Annually.

[[Page 40409]]

    Estimated Total Reporting/Recordkeeping Burden: 792,000 hours.

    OMB Number: 1545-0790.
    Form Number: IRS Form 8082.
    Type of Review: Extension.
    Title: Notice of Inconsistent Treatment or Amended Return 
(Administrative Adjustment Return (AAR)).
    Description: IRC sections 6222 and 6227 require partners to notify 
IRS by filing Form 8082 when they (1) treat partnership items 
inconsistent with the partnership's treatment (6222), and (2) change 
previously reported partnership items (6227). Sections 6244 and 860F 
extend this requirement to shareholders of S corporations and residuals 
of REMICs.
    Respondents: Business or other for-profit, Individuals or 
households, Farms.
    Estimated Number of Respondents: 10,600.
    Estimated Burden Hours Per Respondent/Recordkeeper:

    Recordkeeping--4 hours, 18 minutes.
    Learning about the law or the form--24 minutes.
    Preparing and sending the form to the IRS--29 minutes.
    Frequency of Response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 55,014 hours.

    OMB Number: 1545-0798.
    Regulation ID Number: 26 CFR 31.6001-1, 26 CFR 31.6001-2, 26 CFR 
31.6001-3, 26 CFR 31.6001-5, and 26 CFR 31.6001-6.
    Type of Review: Extension.
    Title: 26 CFR 31.6001-1 Records in General, 26 CFR 31.6001-2 
Additional Records under FICA; 26 CFR 31.6001-3, Additional Records 
Under Railroad Retirement Tax Act; 26 CFR 31.6001-5 Additional Records 
in Connection with Collection of Income Tax at Source on Wages; 26 CFR 
31.6001-6 Notice by District Director Requiring Returns, Statements, or 
the Keeping of Records.
    Description: Internal Revenue Code (IRC) section 6001 requires, in 
part, that every person liable for tax, or for the collection of that 
tax keep such records and comply with such rules and regulations as the 
Secretary may from time to time prescribe. 26 CFR 31.6001 has special 
application to employment taxes. These records are needed to ensure 
compliance with the Code.
    Respondents: Business or other for-profit, Individuals or 
households, Not-for-profit institutions, Farms, Federal Government, 
State, Local or Tribal Government.
    Estimated Number of Recordkeepers: 5,676,263.
    Estimated Burden Hours Per Recordkeeper:

    For domestic employers--1 hour, 44 minutes.
    For agricultural employers--1 hour, 48 minutes.
    For railroad employers--12 hours, 20 minutes.
    For all other employers--6 hours, 5 minutes.

    Frequency of Response: Other.
    Estimated Total Recordkeeping Burden: 30,273,950 hours.

    OMB Number: 1545-0810.
    Regulation ID Number: LR-2013 (T.D. 7533) Final.
    Type of Review: Extension.
    Title: Time for Filing Returns and Other Documents.
    Description: This regulation tells a taxpayer where in the 
regulations the dates for filing returns and other documents may be 
found if the dates are not specified by statute. The information is 
used to avoid or establish the existence of a failure to file penalty.
    Respondents: Individuals or households, Business or other for-
profit, Not-for-profit institutions, Farms, State, Local or Tribal 
Government.
    Estimated Number of Respondents: 12,417.
    Estimated Burden Hours Per Respondent: 15 minutes.
    Frequency of Response: Other (as required).
    Estimated Total Reporting Burden: 3,104 hours.

    OMB Number: 1545-1043.
    Form Number: IRS Notice 88-30 and IRS Notice 88-132.
    Type of Review: Revision.
    Title: Diesel Fuel and Aviation Fuel Taxes Imposed at Wholesale 
Level (Notice 88-30), Diesel and Aviation Fuel Taxes; Rules Effective 
1/1/89 (Notice 88-132).
    Description: Producers of aviation fuel must be registered by the 
IRS to sell the fuel tax free. Producers must also obtain 
certifications from their tax-free buyers.
    Respondents: Business or other for-profit, Not-for-profit 
institutions, Farms, State, Local or Tribal Government.
    Estimated Number of Respondents/Recordkeepers: 3,500.
    Estimated Burden Hours Per Respondent/Recordkeeper: 1 hour, 6 
minutes.
    Frequency of Response: Quarterly.
    Estimated Total Reporting Burden: 3,850 hours.
    OMB Number: 1545-1205.
    Form Number: IRS Form 8826.
    Type of Review: Revision.
    Title: Disabled Access Credit.
    Description: Code section 44 allows eligible small businesses to 
claim a nonrefundable income tax credit of 50% of the amount of 
eligible access expenditures for any tax year that exceed $250 but do 
not exceed $10,250. Form 8826 figures the credit and the tax limit.
    Respondents: Business or other for-profit, Individuals or 
households, Farms.
    Estimated Number of Respondents/Recordkeepers: 50,000.
    Estimated Burden Hours Per Respondent/Recordkeeper:

    Recordkeeping--4 hours, 18 minutes.
    Learning about the law or the form--47 minutes.
    Preparing and sending the form to the IRS--54 minutes.

    Frequency of Response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 299,500 hours.

    OMB Number: 1545-1292.
    Regulation ID Number: PS-101-90 and PS-97-91 (Final).
    Type of Review: Extension.
    Title: Enhanced Oil Recovery Credit.
    Description: The regulation provides guidance concerning the costs 
subject to the enhanced oil recovery credit, the circumstances under 
which the credit is available, and procedures for certifying to the 
Internal Revenue Service that a project meets the requirements of 
section 43(c) of the Internal Revenue Code.
    Respondents: Business or other for-profit, Individuals or 
households.
    Estimated Number of Respondents: 20.
    Estimated Burden Hours Per Respondent: 1 hour.
    Frequency of Response: Annually.
    Estimated Total Reporting Burden: 1,460 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. 95-19458 Filed 8-7-95; 8:45 am]
BILLING CODE 4830-01-P