[Federal Register Volume 61, Number 166 (Monday, August 26, 1996)]
[Notices]
[Pages 43812-43813]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-21723]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Third-Party Disclosure 
Requirements in IRS Regulations

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 
existing regulations, Third-Party Disclosure Requirements in IRS 
Regulations.

DATES: Written comments should be received on or before October 25, 
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: Third-Party Disclosure Requirements in IRS Regulations.
    OMB Number: 1545-1466.
    Abstract: These existing regulations contain third-party disclosure 
requirements that are subject to the Paperwork Reduction Act of 1995.
    Current Actions:
    1. The burden estimate for Sec. 1.823-6(c)(2)(v) is changed for 
greater accuracy. The total number of respondents will be 75 and the 
time per respondent is 150 hours, for a total burden of 11,250 hours. 
Therefore, the burden is increased by 25 responses and 1,250 hours.
    2. Sections 1.1394-1(b)(4) and 1.1394-1(b)(6) were amended and the 
paperwork burden was eliminated. Therefore, the burden is reduced by 
3,640 responses and 4,420 hours.
    3. Sections 1.7704-1(f)(2) (iii) and (iv) were amended and the 
paperwork burden was eliminated. Therefore, the burden is reduced by 5 
responses and 500 hours.
    4. Section 1.7704-1(f)(2)(vii) was eliminated. Therefore, the 
burden is reduced by 500 responses and 250 hours.
    5. Sections 48.4081-11T(b)(2)(ii) and 48.4082-2T were eliminated. 
Therefore, the burden is reduced by 50,500 responses and 5,050 hours.
    6. Proposed Sec. 301.6109-3 was withdrawn. Therefore, the burden is 
reduced by 100,000 responses and 16,667 hours.
    Type of Review: Revision of a currently approved collection.
    Affected Public: Individuals or households, business or other for-
profit institutions, and not-for-profit institutions.
    Estimated Number of Respondents: 256,969,408.
    Estimated Time Per Respondent: Varies.
    Estimated Total Annual Burden Hours: 86,968,767.
    The following paragraph applies to all of the collections of 
information covered by this notice:
    An agency may not conduct or sponsor, and a person is not required 
to respond to, a collection of information unless the collection of 
information displays a valid OMB control number. Books or records 
relating to a collection of information must be retained as long as 
their contents may become material in the administration of any 
internal revenue law. Generally, tax returns and tax return information 
are confidential, as required by 26 U.S.C. 6103.

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

[[Page 43813]]

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 quality, utility, and clarity of the information to 
be collected; (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; and (e) 
estimates of capital or start-up costs and costs of operation, 
maintenance, and purchase of services to provide information.

    Approved: August 20, 1996.
Garrick R. Shear,
IRS Reports Clearance Officer.
[FR Doc. 96-21723 Filed 8-23-96; 8:45 am]
BILLING CODE 4830-01-P