[Federal Register Volume 61, Number 208 (Friday, October 25, 1996)]
[Notices]
[Pages 55358-55360]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-27372]


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DEPARTMENT OF THE TREASURY

Submission to OMB for Review; Comment Request

October 18, 1996.
    The Department of Treasury has submitted the following public 
information collection requirement(s) to

[[Page 55359]]

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: 1545-0008.
    Form Number: IRS Forms W-2, W-2c, W-2AS, W-2GU, W-2VI, W-3, W-3c, 
W-3PR, W-3cPR, and W-3SS.
    Type of Review: Extension.
    Title: Wage and Tax Statement (W-2), Statement of Corrected Income 
and Tax Amounts (W-2c), American Samoa Wage and Tax Statement (W-2AS), 
Guam Wage and Tax Statement (W-2GU), U.S. Virgin Islands Wage and Tax 
Statement (W-2VI), Transmittal of Wage and Tax Statements (W-3), 
Transmittal of Corrected Income and Tax Statements (W-3c), Informe de 
Comprobantes de Retencion (W-3PR), Transmision de Comprobantes de 
Retencion Corregidos (W-3cPR), and Transmittal of Wage and Tax 
Statements (W-3SS).
    Description: Employers report income and withholding on Form W-2. 
Forms W-2AS, W-2GU and W-2V are the U.S. possessions versions of Form 
W-2. The Form W-3 series is used to transmit Forms W-2 to the Social 
Security Administration (SSA). Forms W-2c, W-3c and W-3cPR are used to 
correct previously filed Forms W-2, W-3 and W-3PR. Individuals use Form 
W-2 to prepare their income tax return.
    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: 6,493,883.
    Estimated Burden Hours Per Respondent:

------------------------------------------------------------------------
                                                               Response 
                            Form                                 time   
                                                              (minutes) 
------------------------------------------------------------------------
W-2........................................................           32
W-2c.......................................................           52
W-2AS......................................................           22
W-2GU......................................................           23
W-2VI......................................................           22
W-3........................................................           25
W-3c.......................................................           20
W-3PR......................................................           20
W-3cPR.....................................................           28
W-3SS......................................................           23
------------------------------------------------------------------------

    Frequency of Response: Annually
    Estimated Total Reporting Burden: 1 hour.

    OMB Number: 1545-1209.
    Regulation Project Number: IA-83-90 Final.
    Type of Review: Extension.
    Title: Disclosure of Tax Return Information for Purposes of Quality 
or Peer Reviews; Disclosure of Tax Return Information Due to Incapacity 
or Death of Tax Return Preparer.
    Description: These regulations govern the circumstances under which 
tax return information may be disclosed for purposes of conducting 
quality or peer reviews, and disclosures that are necessary because of 
the tax return preparer's death or incapacity.
    Respondents: Business or other for-profit.
    Estimated Number of Recordkeepers: 250,000.
    Estimated Burden Hours Per Recordkeeper: 1 hour.
    Frequency of Response: Other.
    Estimated Total Recordkeeping Burden: 250,000 hours.

    OMB Number: 1545-1231.
    Regulation Project Number: IA-38-90 Final (T.D. 8382).
    Type of Review: Extension.
    Title: Penalty on Income Tax Return Preparers Who Understate 
Taxpayer's Liability on a Federal Income Tax Return or a Claim for 
Refund.
    Description: These regulations set forth rules under section 6694 
of the Internal Revenue Code regarding the penalty for understatement 
of a taxpayer's liability on a Federal income tax return or claim for 
refund. In certain circumstances, the preparer may avoid the penalty by 
disclosing on a Form 8275 or by advising the taxpayer or another 
preparer that disclosure is necessary.
    Respondents: Business or other for-profit, Individual or 
households.
    Estimated Number of Respondents: 100,000.
    Estimated Burden Hours Per Respondent: 30 minutes.
    Frequency of Response: Annually.
    Estimated Total Reporting Burden: 50,000 hours.

    OMB Number: 1545-1271.
    Regulation Project Numbers: INTL-54-91 NPRM (Formerly INTL-610-86) 
and INTL-178-86 NPRM.
    Type of Review: Extension.
    Title: Transfers of Stock or Securities by U.S. Persons to Foreign 
Corporations (INTL-54-91 NPRM); and Foreign Liquidations and 
Reorganization (INTL-178-86 NPRM).
    Description: A U.S. person must generally file a gain recognition 
agreement with the Service in order to defer gain on a section 367(a) 
transfer of stock to a foreign corporation, and must file a notice with 
the Service if it realizes any income in a section 367(b) exchange. 
These requirements ensure compliance with the respective sections.
    Respondents: Business or other for-profit.
    Estimated Number of Respondents: 600.
    Estimated Burden Hours Per Respondent: 4 hours.
    Frequency of Response: Annually.
    Estimated Total Reporting Burden: 2,400 hours.

    OMB Number: 1545-1359.
    Regulation Project Number: INTL-978-86 NPRM.
    Type of Review: Extension.
    Title: Information Reporting by Passport and Permanent Residence 
Applicants.
    Description: The regulations require applicants for passports and 
permanent residence status to report certain tax information on the 
applications. The regulations are intended to give the Service notice 
of non-filers and of persons with foreign source income not subject to 
normal withholding, and to notify such persons of their duty to file 
U.S. tax returns.
    Respondents: Individuals or households.
    Estimated Number of Respondents: 5,500,000.
    Estimated Burden Hours Per Respondent: 6 minutes.
    Frequency of Response: On occasion.
    Estimated Total Reporting Burden: 750,000 hours.

    OMB Number: 1545-1421.
    Regulation Project Number: IA-62-93 TEMP and NPRM.
    Type of Review: Extension.
    Title: Certain Elections Under the Omnibus Budget Reconciliation 
Act of 1993.
    Description: These regulations establish various elections with 
respect to which immediate interim guidance on the time and manner of 
making the elections is necessary. These regulations enable taxpayers 
to take advantage of the benefits of various Code provisions.
    Respondents: Business or other for-profit, Individuals or 
households, Farms.
    Estimated Number of Respondents: 410,000.
    Estimated Burden Hours Per Respondent: 30 minutes.
    Frequency of Response: On occasion.
    Estimated Total Reporting Burden: 202,500 hours.
    Clearance Officer: Garrick Shear (202) 622-3869, Internal Revenue 
Service, Room 5571, 1111 Constitution Avenue, N.W., Washington, DC 
20224.

[[Page 55360]]

    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. 96-27372 Filed 10-24-96; 8:45 am].
BILLING CODE 4830-01-M