[Federal Register Volume 61, Number 72 (Friday, April 12, 1996)]
[Notices]
[Pages 16284-16285]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-9107]



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DEPARTMENT OF THE TREASURY


Submission to OMB for Review; Comment Request

March 25, 1996.
    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: 1545-0731.
    Regulation ID Number: PS-1-83 NPRM; PS-259-82 TEMP; and PS-262-82 
Final.
    Type of Review: Extension.
    Title: Certain Elections under the Subchapter S Revision (PS-1-83 
NPRM and PS-259-82 TEMP; and Definition of S Corporation (PS-262-82 
Final).
    Description: The regulations provide the procedures and the 
statements to be filed by certain individuals for making the election 
under section 1361(d)(2), the refusal to consent to that election, or 
the revocation of that election. The statements required to be filed 
would be used to verify that taxpayers are complying with requirements 
imposed by Congress.

[[Page 16285]]

    Respondents: Business or other for-profit, Individuals or 
households.
    Estimated Number of Respondents: 1,005.
    Estimated Burden Hours Per Respondent: 1 hour.
    Frequency of Response: Other (non-recurring).
    Estimated Total Reporting Burden: 1,005 hours.

    OMB Number: 1545-0819.
    Regulation ID Number: 26 CFR 601.201.
    Type of Review: Extension.
    Title: Instructions for Requesting Rulings and Determination 
Letters.
    Description: The National Office issues ruling letters and District 
Directors issue determination letters to taxpayers interpreting and 
applying the tax laws to a specific set of facts. The National Office 
also issues other types of letters. The procedural regulations set 
forth the instructions for requesting ruling and determination letters.
    Respondents: Business or other for-profit, Individuals or 
households, Not-for-profit institutions, Farms, Federal Government, 
State, Local or Tribal Government.
    Estimated Number of Respondents: 271,914.
    Estimated Burden Hours Per Respondent: 55 minutes.
    Frequency of Response: On occasion.
    Estimated Total Reporting Burden: 248,496 hours.

    OMB Number: 1545-0854.
    Regulation ID Number: LR-1214 Final.
    Type of Review: Extension.
    Title: Discharge of Liens.
    Description: The Internal Revenue Service needs this information to 
determine if the taxpayer has equity in the property. This information 
will be used to determine the amount, if any, to which the tax lien 
attaches.
    Respondents: Individuals or households, Farms.
    Estimated Number of Respondents: 500.
    Estimated Burden Hours Per Respondent: 24 minutes.
    Frequency of Response: On occasion.
    Estimated Total Reporting Burden: 200 hours.

    OMB Number: 1545-1375.
    Regulation ID Number: IA-5-92 Final.
    Type of Review: Extension.
    Title: Carryover of Passive Activity Losses and Credits and At Risk 
Losses to Bankruptcy Estates of Individuals.
    Description: These regulations provide for a joint election to have 
the regulations apply to certain bankruptcy cases. In a chapter 7 case, 
the written consent of the trustee must be obtained. In a chapter 11 
case, the election must be in the reorganization plan or in a court 
order.
    Respondents: Individuals or households.
    Estimated Number of Respondents: 600,000.
    Estimated Burden Hours Per Respondent: 1 hour.
    Frequency of Response: Annually.
    Estimated Total Reporting Burden: 600,000 hours.
    Clearance Officer: Garrick Shear (202) 622-3869, Internal Revenue 
Service, Room 5571, 1111 Constitution Avenue, N.W., 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. 96-9107 Filed 4-11-96; 8:45 am]
BILLING CODE 4830-01-P