[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:
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Copying, Assembling, and
Form Recordkeeping Learning about the law or Preparing the form sending the form to the
the form IRS
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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....................
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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
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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
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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