[Federal Register Volume 62, Number 31 (Friday, February 14, 1997)]
[Notices]
[Page 7088]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-3767]


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DEPARTMENT OF THE TREASURY

Submission to OMB for Review; Comment Request

February 7, 1997.
    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: 1545-0122.
    Form Number: IRS Form 1118, Schedule I and Schedule J.
    Type of Review: Extension.
    Title: Foreign Tax Credit--Corporations.
    Description: Form 1118 and separate Schedules I and J are used by 
domestic and foreign corporations to claim a credit against tax for 
taxes paid to foreign countries. The IRS uses Form 1118 and related 
schedules to determine if the corporation has computed the foreign tax 
credit correctly.
    Respondents: Business or other for-profit.
    Estimated Number of Respondents/Recordkeepers: 10,000.
    Estimated Burden Hours Per Respondent/Recordkeeper:

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                                                   Form 1118            Schedule I             Schedule J       
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Recordkeeping...............................  71 hr., 45 min.....  8 hr., 51 min......  89 hr., 12 min.         
Learning about the law or the form..........  18 hr., 25 min.....  1 hr., 0 min.......  1 hr., 5 min.           
Preparing, copying, and sending the form to   22 hr., 48 min.....  1 hr., 11 min......  2 hr., 35 min.          
 the IRS.                                                                                                       
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    Frequency of Response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 3,403,363 hours.

    OMB Number: 1545-1499.
    Revenue Procedure Number: Revenue Procedure 96-52.
    Type of Review: Extension.
    Title: Acceptance Agents.
    Description: Revenue Procedure 96-52 describes application 
procedures for becoming an acceptance agent and the requisite agreement 
that an agent must execute with IRS.
    Respondent: Business or other for-profit, individuals or 
households, not-for-profit institutions, Federal Government, State, 
Local or Tribal Government.
    Estimated Number of Respondents: 12,825.
    Estimated Burden Hours Per Respondent: 3 hours, 12 minutes.
    Frequency of Response: On occasion.
    Estimated Total Reporting Burden: 41,006 hours.
    Clearance Officer: Garrick Shear (202) 622-3869. Internal Revenue 
Service, Room 5571, 1111 Constitution Avenue, NW, Washington, DC 20224.
    OMB Reviewer: Alexander T. Hunt (202) 395-7860, Office of 
Management and Budget, Room 10226, New Executive Office Building, 
Washington, DC 20503.
Lois K. Holland,
Departmental Reports Management Officer.
[FR Doc. 97-3767 Filed 2-13-97; 8:45 am]
BILLING CODE 4830-01-P