[Federal Register Volume 62, Number 45 (Friday, March 7, 1997)]
[Notices]
[Pages 10620-10621]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-5604]


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DEPARTMENT OF THE TREASURY


Submission to OMB for Review; Comment Request

February 25, 1997.
    The Department of Treasury has submitted the following public

[[Page 10621]]

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: 1545-0919.
    Regulation Project Number: PS-105-75 Final.
    Type of Review: Extension.
    Title: Limitations on Percentage Depletion in the Case of Oil and 
Gas Wells.
    Description: The regulations require each partner to separately 
keep records of his share of the adjusted basis of partnership oil and 
gas property and require each partnership, trust, estate, and operator 
to provide information necessary to compute depletion with respect to 
oil or gas to certain persons.
    Respondents: Business or other for-profit.
    Estimated Number of Respondents/Recordkeepers: 1,500,000.
    Estimated Burden Hours Per Respondent/Recordkeeper: 1 hour.
    Frequency of Response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 1 hour.

    OMB Number: 1545-0928.
    Regulation Project Number: EE-35-85 Final (TD 8219).
    Type of Review: Revision.
    Title: Income Tax: Taxable Years Beginning After December 31, 1953; 
OMB Control Number Under the Paperwork Reduction Act; Survivor 
Benefits, Distribution Restriction and Various Other Issues Under the 
Retirement Equity Act of 1984.
    Description: The notices referred to in this Treasury decision are 
required by statute and must be provided by employers to retirement 
plan participants to inform participants of their rights under the plan 
or under the law. Failure to timely notify participants of their rights 
may result in loss of plan benefits.
    Respondents: Business or other for-profit, Not-for-profit 
institutions, Federal Government, State, Local or Tribal Government.
    Estimated Number of Respondents: 750,000.
    Estimated Burden Hours Per Respondent: 31 minutes.
    Frequency of Response: On occasion.
    Estimated Total Reporting Burden: 385,000 hours.

    OMB Number: 1545-1218.
    Regulation Project Number: CO-25-96 (formerly CO-132-87) NPRM and 
Temp.
    Type of Review: Extension.
    Title: Regulations Under Section 1502 of the Internal Revenue Code 
of 1986; Limitations on Net Operating Loss Carryforwards and Certain 
Built-In Losses and Credits Following an Ownership Change of a 
Consolidated Group.
    Description: Section 1502 provides for the promulgation of 
regulations with respect to corporations that file consolidated income 
tax returns. Section 382 limits the amount of income that can be offset 
by loss carryovers after an ownership change. These regulations provide 
rules for applying section 382 to groups filing consolidated returns.
    Respondents: Business or other for-profit.
    Estimated Number of Respondents: 9125.
    Estimated Burden Hours Per Respondent: 15 minutes.
    Frequency of Response: Other (changes in group membership).
    Estimated Total Reporting Burden: 380 hours.

    OMB Number: 1545-1233.
    Regulation Project Number: IA-14-91 Final.
    Type of Review: Extension.
    Title: Adjusted Current Earnings.
    Description: This regulation affects business and other for-profit 
institutions. This information is required by the IRS to ensure the 
proper application of section 1.56(g)-1 of the regulation. It will be 
used to verify that taxpayers have properly elected the benefits of 
section 1.56(g)-1(r) of the regulation.
    Respondents: Business or other for-profit.
    Estimated Number of Respondents: 1,000.
    Estimated Burden Hours Per Respondent: 1 hour.
    Frequency of Response: Other (once only).
    Estimated Total Reporting Burden: 1,000 hours.

    OMB Number: 1545-1431.
    Regulation Project Number: IA-74-93 Final.
    Type of Review: Extension.
    Title: Substantiation Requirements for Certain Contributions.
    Description: The regulations provide that, for purposes of 
substantiation for certain charitable contributions, consideration does 
not include de minimis goods and services. It also provides guidance on 
how taxpayers may satisfy the substantiation requirement for 
contributions of $250 or more.
    Respondents: Business or other for-profit, Individuals or 
households, Not-for-profit institutions. Estimated Number of 
Respondents: 16,000.
    Estimated Burden Hours Per Respondent: 3 hours, 13 minutes.
    Frequency of Response: On occasion.
    Estimated Total Reporting Burden: 51,500 hours.

    OMB Number: 1545-1506.
    Notice Number: Notice 96-65.
    Type of Review: Extension.
    Title: Treatment of a Trust as Domestic or Foreign--Changes Made by 
the Small Business Job Protection Act.
    Description: Notice 96-65 announces that a domestic trust may avoid 
an involuntary change in status caused by operation of the Small 
Business Act of 1996 by reforming within a reasonable period of time. 
The notice also announces how to elect to apply the new trust status 
rules retroactively.
    Respondents: Individuals or households, Business or other for-
profit, Not-for-profit institutions.
    Estimated Number of Respondents: 1,200.
    Estimated Burden Hours Per Respondent: 28 minutes.
    Frequency of Response: Annually.
    Estimated Total Reporting Burden: 550 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. 97-5604 Filed 3-6-97; 8:45 am]
BILLING CODE 4830-01-P