[Federal Register Volume 60, Number 152 (Tuesday, August 8, 1995)]
[Notices]
[Pages 40409-40411]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-19459]



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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 

[[Page 40410]]
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: 1545-0099.
    Form Number: IRS Form 1065, Schedule D, Schedule K-1, Schedule L, 
Schedule M-1, and Schedule M-2.
    Type of Review: Revision.
    Title: U.S. Partnership Return of Income (1065); Capital Gains and 
Losses (Schedule D); Partner's Share of Income, Credits, Deductions, 
etc. (Schedule K-1); Balance Sheets (Schedule L); Reconciliation of 
Income (Loss) pe. Books With Income (Loss) per Return (M-1); and 
Analysis of Partners' Capital Accounts (M-2).
    Description: Internal Revenue Code (IRC) section 6031 requires 
partnerships to file returns that show gross income items, allowable 
deductions, partners' names, addresses, and distribution shares, and 
other information. This information is used to verify correct reporting 
of partnership items and for general statistics.
    Respondents: Business or other for-profit, Individuals or 
households, Farms.
    Estimated Number of Respondents/Recordkeepers: 1,513,000.
    Estimated Burden Hours Per Respondent/Recordkeeper:

--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                Copying, Assembling, and
                    Form                            Recordkeeping        Learning about the law or      Preparing the form      sending the form to the 
                                                                                  the form                                                IRS           
--------------------------------------------------------------------------------------------------------------------------------------------------------
1065........................................  38 hr., 53 min...........  19 hr., 47 min...........  35 hr., 24 min...........  4 hr., 1 min.            
Sch. D......................................  5 hr., 30 min............  1 hr., 41 min............  1 hr., 51 min............                           
Sch. K-1....................................  25 hr., 7 min............  9 hr., 2 min.............  9 hr., 51 min............                           
Sch. L......................................  15 hr., 32 min...........  6 min....................  22 min...................                           
Sch. M-1....................................  3 hr., 21 min............  12 min...................  16 min...................                           
Sch. M-2....................................  2 hr., 52 min............  6 min....................  9 min....................                           
--------------------------------------------------------------------------------------------------------------------------------------------------------

    Frequency of Response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 872,366,670 hours.

    OMB Number: 1545-0865.
    Form Number: IRS Form 8264.
    Type of Review: Extension.
    Title: Application for Registration of a Tax Shelter.
    Description: Organizers of certain tax shelters are required to 
register them with the IRS using Form 8264. (Other persons may have to 
register the tax shelter if the organizer doesn't.) We use the 
information to give the tax shelter a registration number. Sellers of 
interests in the tax shelter furnish the number of investors who report 
the number on their tax returns.
    Respondents: Business or other for-profit, Individuals or 
households.
    Estimated Number of Respondents/Recordkeepers: 1,000.
    Estimated Burden Hours Per Respondent/Recordkeeper:

    Recordkeeping--33 hr., 14 min.
    Learning about the law or the form--2 hr., 35 min.
    Preparing, copying, assembling, and sending the form to the IRS--3 
hr., 14 min.

    Frequency of Response: On occasion.
    Estimated Total Reporting/Recordkeeping Burden: 39,060 hours.

    OMB Number: 1545-1051.
    Regulation ID Number: INTL-29-91 Final.
    Type of Review: Extension.
    Title: Computation and Characterization of Income and Earnings and 
Profits under the Dollar Approximate Separate Transactions Method of 
Accounting (DASTM).
    Description: For taxable years after the final regulations are 
effective, taxpayers operating in hyperinflationary currencies must use 
the U.S. as their functional currency and compute income using the 
dollar approximate separate transactions method (DASTM). Small 
taxpayers may elect an alternate method by which to compute income or 
loss. For prior taxable years in which income was computed using the 
profit and loss method, taxpayers may elect to recompute their income 
using DASTM.
    Respondents: Business or other for-profit.
    Estimated Number of Respondents: 700.
    Estimated Burden Hours Per Respondent: 30 minutes.
    Frequency of Response: Other (One time election).
    Estimated Total Reporting Burden: 1,000 hours.

    OMB Number: 1545-1156.
    Regulation ID Number: 26 CFR 1.6001-1.
    Type of Review: Extension.
    Title: Records.
    Description: Internal Revenue Code 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. These records are needed to 
ensure proper compliance with the Code.
    Respondents: Individuals or households, Business or other for-
profit, Not-for-profit institutions, Farms, Federal Government, State, 
Local or Tribal Government.
    Estimated Number of Recordkeepers: 1.
    Estimated Burden Hours Per Recordkeeper: 1 hour.
    Frequency of Response: Other.
    Estimated Total Recordkeeping Burden: 1 hour.

    OMB Number: 1545-1349.
    Form Number: None.
    Type of Review: Extension.
    Title: Cognitive and Psychological Research.
    Description: The proposed research will improve the quality and 
data collection by examining the psychological and cognitive aspects of 
methods and procedures such as: interviewing processes, forms redesign, 
survey and tax collection technology and operating procedures (internal 
and external in nature).
    Respondents: Individuals or households, Business or other for-
profit, Federal Government.
    Estimated Number of Respondents: 9,000.
    Estimated Burden Hours Per Respondent:

    FY 1996--1 hour.
    FY 1997--1 hour.
    FY 1998--1 hour.

    Frequency of Response: Other.
    Estimated Total Reporting Burden: 9,000 hours.

    OMB Number: 1545-1351.
    Form Number: None.
    Type of Review: Revision.
    Title: SOI Corporate Survey.
    Description: This is a request to conduct a yearly survey on a 
small 

[[Page 40411]]
portion of the very largest U.S. corporations. The data will be used to 
improve the quality of the Statistics of Income's (SOI) advance tax 
data. The survey will allow SOI to collect existing tax information 
earlier than regular IRS processing currently allows. Advance tax data 
has been requested by the Bureau of Economic Analysis, the Office of 
Tax Analysis and the Joint Committee on Taxation for tax analysis 
purposes.
    Respondents: Business or other for-profit.
    Estimated Number of Respondents: 100.
    Estimated Burden Hours Per Respondent: 30 minutes.
    Frequency of Response: Single.
    Estimated Total Reporting Burden: 50 hours.

    OMB Number: 1545-1420.
    Form Number: IRS Form 8849.
    Type of Review: Revision.
    Title: Claim for Refund of Excise Taxes.
    Description: Internal Revenue Code (IRC) sections 6402 and 6404, 
and sections 301.6402-2, 301.6404-1, and 301.6404-3 of the regulations 
allow for refunds of taxes (except income taxes) or refund, abatement, 
or credit of interest, penalties, and additions to tax in the event of 
errors or certain actions by the IRS. Form 8849 is used by taxpayers to 
claim refunds of excise taxes.
    Respondents: Business or other for-profit, Individuals or 
households, Not-for-profit, Farms, Federal Government, State, Local or 
Tribal Government.
    Estimated Number of Respondents/Recordkeepers: 122,577.
    Estimated Burden Hours Per Respondent/Recordkeeper:

------------------------------------------------------------------------
          Form            Recordkeeping   Learning  Preparing   Copying 
------------------------------------------------------------------------
8849 (Lines 1 & 2)......           13            7          7         20
8849 (Line 3)...........           26            1         10         10
8849 (Line 4)...........           20            1          7         10
8849 (Line 5)...........           20            1          7         10
8849 (Line 6)...........           20            1         11         10
8849 (Line 7)...........           26            1          8         10
8849 (Line 8)...........           13            1          7         10
8849 (Line 9)...........           13            1          5         10
8849 (Line 10)..........           20            1         10         10
8849 (Line 11)..........           13            1          5         10
8849 (Line 12)..........            0            1          1         10
------------------------------------------------------------------------

    Frequency of Response: On occasion.
    Estimated Total Reporting Burden: 183,952 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. 95-19459 Filed 8-7-95; 8:45 am]
BILLING CODE 4830-01-P