[Federal Register Volume 62, Number 134 (Monday, July 14, 1997)]
[Notices]
[Page 37642]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-18336]


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DEPARTMENT OF THE TREASURY


Submission to OMB for Review; Comment Request

July 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, Pub. L. 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: 1545-0771.
    Regulation Project Number: EE-63-88 Final and Temporary; IA-140-86 
Temporary; and REG-209785-95 NPRM and Temporary.
    Type of Review: Extension.
    Title: Taxation of Fringe Benefits and Exclusions From Gross Income 
for Certain Fringe Benefits (EE-63-88); Fringe Benefits; Listed 
Property (IA-140-86); and Substantiation of Business Expenses for 
Travel, Entertainment, Gifts and Listed Property (REG-209785-95).
    Description: EE-63-88: This regulation provides guidance on the tax 
treatment of taxable and nontaxable fringe benefits and general and 
specific rules for the valuation of taxable fringe benefits in 
accordance with Code sections 61 and 132. The regulation also provides 
guidance on exclusions from gross income for certain fringe benefits.
    IA-140-86: This regulation provides guidance relating to the 
requirement that any deduction or credit with respect to business 
travel, entertainment, and gift expenses be substantiated with adequate 
records in accordance with Code section 274(d). The regulation also 
provides guidance on the taxation of fringe benefits and clarifies the 
types of records that are generally necessary to substantiate any 
deduction or credit for listed property.
    REG-209785-95: This regulation provides that taxpayers who deduct, 
or reimburse employees for, business expenses for travel, 
entertainment, gifts, or listed property are required to maintain 
certain records, including receipts, for expenses of $75 or more. The 
regulation amends existing regulations by raising the receipt threshold 
from $25 to $75.
    Respondents: Business or other for-profit, Individuals or 
household, Not-for-profit institutions, Farms, Federal Government, 
State, Local or Tribal Government.
    Estimated Number of Respondents/Recordkeepers: 28,582,150.
    Estimated Burden Hours Per Respondent/Recordkeeper: 1 hr., 18 min.
    Frequency of Response: On occasion.
    Estimated Total Reporting/Recordkeeping Burden: 37,922,688 hours.

    OMB Number: 1545-1350.
    Form Number: IRS Form 9465.
    Type of Review: Extension.
    Title: Installment Agreement Request.
    Description: This form is used by the public to provide identifying 
account information and financial ability to enter into an installment 
agreement. The form is used by IRS to establish a payment plan for 
taxes owed to the Federal Government, if appropriate, and to inform 
taxpayers about the application fee.
    Respondents: Individuals or households.
    Estimated Number of Respondents: 2,500,000.
    Estimated Burden Hours Per Respondent: 47 minutes.
    Frequency of Response: On occasion.
    Estimated Total Reporting Burden: 2,125,000 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. 97-18336 Filed 7-11-97; 8:45 am]
BILLING CODE 4830-01-P