[Federal Register Volume 61, Number 52 (Friday, March 15, 1996)]
[Notices]
[Pages 10844-10845]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-6154]



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DEPARTMENT OF THE TREASURY
Internal Revenue Service
[EE-14-81]


Proposed Collection; Comment Request

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

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SUMMARY: The Department of the Treasury, as part of its continuing 
effort to reduce paperwork and respondent burden, invites the general 
public and other Federal agencies to take this opportunity to comment 
on proposed and/or continuing information collections, as required by 
the Paperwork Reduction Act of 1995, Public Law 104-13 (44 U.S.C. 
3506(C)(2)(a)). Currently, the IRS is soliciting comments concerning an 
existing notice of proposed rulemaking, EE-14-81, Deductions and 
Reductions in Earnings and Profits (or Accumulated Profits) With 
Respect to Certain Foreign Deferred Compensation Plans Maintained by 
Certain Foreign Corporations or by Foreign Branches of Domestic 
Corporations (Regulation Sec. 1.04A).

DATES: Written comments should be received on or before May 14, 1996 to 
be assured of consideration.

ADDRESSES: Direct all written comments to Garrick R. Shear, Internal 
Revenue Service, room 5571, 1111 Constitution Avenue NW., Washington, 
DC 20224.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the information collection should be directed to Carol 
Savage, (202) 622-3945, Internal Revenue Service, room 5569, 1111 
Constitution Avenue NW., Washington, DC 20224.

SUPPLEMENTARY INFORMATION:

    Title: Deductions and Reductions in Earnings and Profits (or 
Accumulated Profits) With Respect to Certain Foreign Deferred 
Compensation Plans Maintained by Certain Foreign Corporations or by 
Foreign Branches of Domestic Corporations.
    OMB Number: 1545-1393.
    Regulation Project Number: EE-14-81 Notice of Proposed Rulemaking.
    Abstract: The regulation provides guidance regarding the 
limitations on deductions and adjustments to earnings and profits (or 
accumulated profits) for certain foreign deferred compensation plans.
    Current Actions: There is no change to this existing regulation.
    Type of Review: Extension of OMB approval.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents: 1,250.
    Estimated Time Per Respondent: The estimated annual reporting 
burden per respondent varies from 5 hours to 1,000 hours, depending on 
individual circumstances, with an estimated average of 507.56 hours.
    Estimated Total Annual Burden Hours: 634,450 hours.

REQUEST FOR COMMENTS: Comments submitted in response to this notice 
will be summarized and/or included in the request for OMB approval. All 
comments will become a matter of public record. Comments are invited 
on: (a) Whether the collection of information is necessary for the 
proper performance of the functions of the agency, including whether 
the information shall have practical utility; (b) the accuracy of the 
agency's estimate of the burden of the collection of information; (c) 
ways to enhance the

[[Page 10845]]
quality, utility, and clarity of the information to be collected; and 
(d) ways to minimize the burden of the collection of information on 
respondents, including through the use of automated collection 
techniques or other forms of information technology.

    Approved: March 6, 1996.
Garrick R. Shear,
IRS Reports Clearance Officer.
[FR Doc. 96-6154 Filed 3-14-96; 8:45 am]
BILLING CODE 4830-01-U