[Federal Register Volume 61, Number 170 (Friday, August 30, 1996)]
[Notices]
[Pages 46021-46022]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-22175]


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DEPARTMENT OF THE TREASURY

Submission to OMB for Review; Comment Request

August 23, 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 1995, Public Law 104-13. 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: 1545-0119.
    Form Number: IRS Form 1099-R.
    Type of Review: Extension.
    Title: Distributions From Pensions, Annuities, Retirement or 
Profit-Sharing Plans, IRAs, Insurance Contracts, etc.
    Description: Form 1099-R is used to report distributions from 
pensions, annuities, profit-sharing or retirement plans, IRAs, and the 
surrender of insurance contracts. This information is used by IRS to 
verify that income has been properly reported by the recipient.
    Respondents: Business or other for-profit, Not-for-profit 
institutions, Federal Government, State, Local or Tribal Governments.
    Estimated Number of Respondents: 350,000.
    Estimated Burden Hours Per Respondent: 20 minutes.
    Frequency of Response: Annually.
    Estimated Total Reporting Burden: 16,535,774 hours.

    OMB Number: 1545-0415.
    Form Number: IRS Form W-4P.
    Type of Review: Extension.
    Title: Withholding Certificate for Pension or Annuity Payments.
    Description: Used by the recipient of pension or annuity payments 
to designate the number of withholding allowances he or she is 
claiming, an additional amount to be withheld, or to elect that no tax 
be withheld, so that the payer can withhold the proper amount.
    Respondents: Individuals or households.
    Estimated Number of Respondents/Recordkeepers: 12,000,000.
    Estimated Burden Hours Per Respondent/Recordkeeper:
    Recordkeeping--40 minutes.
    Learning about the law or the form--20 minutes.
    Preparing the form--49 minutes.
    Frequency of Response: On occasion.
    Estimated Total Reporting/Recordkeeping Burden: 21,720,000 hours.

    OMB Number: 1545-0795.
    Form Number: IRS Form 8233.
    Type of Review: Revision.
    Title: Exemption From Withholding on Compensation for Independent 
(and Certain Dependent) Personal Services of a Nonresident Alien 
Individual.
    Description: Compensation paid to a nonresident alien (NRA) 
individual for independent personal services (self- employment) is 
generally subject to 30% withholding or graduated rates. However, 
compensation may be exempt from withholding because of a U.S. tax 
treaty or personal exemption amount. Form 8233 is used to request 
exemption from withholding.
    Respondents: Individuals or households, Business or other for-
profit, Not-for-profit institutions.
    Estimated Number of Respondents/Recordkeepers: 480,000.
    Estimated Burden Hours Per Respondent/Recordkeeper:

[[Page 46022]]

    Recordkeeping--26 minutes
    Learning about the law or the form--19 minutes
    Preparing and sending the form to the IRS--42 minutes
    Frequency of Response: Annually
    Estimated Total Reporting/Recordkeeping Burden: 705,600 hours.

    OMB Number: 1545-0877.
    Form Number: IRS Form 1099-A.
    Type of Review: Extension.
    Title: Acquisition or Abandonment of Secured Property.
    Description: Form 1099-A is used by lenders to report foreclosures 
and abandonments of property that is security for a loan.
    Respondents: Business or other for-profit.
    Estimated Number of Respondents: 12,916.
    Estimated Burden Hours Per Respondent: 10 minutes.
    Frequency of Response: Annually.
    Estimated Total Reporting Burden: 42,051 hours.

    OMB Number: 1545-0922.
    Form Number: IRS Forms 8329 and 8330.
    Type of Review: Extension.
    Title: Lender's Information Return for Mortgage Credit Certificates 
(MCCs) (Form 8329); and Issuer's Quarterly Information Return for 
Mortgage Credit Certificates (MCCs) (Form 8330).
    Description: Form 8329 is used by lending institutions and Form 
8330 is used by state and local governments to report on mortgage 
credit certificates (MCCs) authorized under Internal Revenue Code (IRC) 
section 25. IRS matches the information supplied by lenders and issuers 
to ensure that the credit is computed properly.
    Respondents: Business or other for-profit, State, Local or Tribal 
Government.
    Estimated Number of Respondents/Recordkeepers: 10,500.
    Estimated Burden Hours Per Respondent/Recordkeeper:

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                                                       Form 8329                           Form 8330            
----------------------------------------------------------------------------------------------------------------
Recordkeeping...........................  3 hr., 35 min.....................  4 hr., 32 min.                    
Learning about the law or the form......  1 hr., 12 min.....................  1 hr., 23 min.                    
Preparing and sending the form to the     1 hr., 18 min.....................  1 hr., 31 min.                    
 IRS.                                                                                                           
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    Frequency of Response:
    Form 8329--Annually
    Form 8330--Quarterly
    Estimated Total Reporting/Recordkeeping Burden: 75,800 hours.

    OMB Number: 1545-1410.
    Form Number: IRS Form 8840.
    Type of Review: Extension.
    Title: Closer Connection Exception Statement for Aliens.
    Description: Form 8840 is used by an alien individual, who 
otherwise meets the substantial presence test, to explain the basis of 
the individual's claim that he or she is able to satisfy the closer 
connection exception described in Regulations Section 301.7701(b)-2.
    Respondents: Individuals or households.
    Estimated Number of Respondents/Recordkeepers: 350,000.
    Estimated Burden Hours Per Respondent/Recordkeeper:
    Recordkeeping--13 minutes
    Learning about the law or the form--8 minutes
    Preparing the form--1 hour., 14 minutes
    Copying, assembling, and sending to the IRS--35 minutes
    Frequency of Response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 759,500 hours.
    Clearance Officer: Garrick Shear (202) 622-3869, Internal Revenue 
Service, Room 5571, 1111 Constitution Avenue, N.W., Washington, DC 
20224
    OMB Reviewer: Alexander T. Hunt (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. 96-22175 Filed 8-29-96; 8:45 am]
BILLING CODE 4830-01-P