[Federal Register Volume 62, Number 136 (Wednesday, July 16, 1997)]
[Notices]
[Pages 38191-38192]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-18752]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Forms 990-PF and 4720

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

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SUMMARY: The Department of the Treasury, as part of its continuing 
effort to reduce paperwork and respondent burden, invites the general 
public and other Federal agencies to take this opportunity to comment 
on proposed and/or continuing information collections, as required by 
the Paperwork Reduction Act of 1995, Public Law 104-13 (44 U.S.C. 
3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning 
Form 990-PF, Return of Private Foundation or Section 4947(a)(1) 
Nonexempt Charitable Trust Treated as a Private Foundation, and Form 
4720, Return of Certain Excise Taxes on Charities and Other Persons 
Under Chapters 41 and 42 of the Internal Revenue Code.

DATES: Written comments should be received on or before September 15, 
1997 to be assured of consideration.

ADDRESSES: Direct all written comments to Garrick R. Shear, Internal 
Revenue Service, room 5571, 1111 Constitution Avenue NW., Washington, 
DC 20224.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the form and instructions should be directed to Martha R. 
Brinson, (202) 622-3869, Internal Revenue Service, room 5571, 1111 
Constitution Avenue NW., Washington, DC 20224.

SUPPLEMENTARY INFORMATION:

    Title: Return of Private Foundation or Section 4947(a)(1) Nonexempt 
Charitable Trust Treated as a Private Foundation (Form 990-PF) and 
Return of Certain Excise Taxes on Charities and Other Persons Under 
Chapters 41 and 42 of the Internal Revenue Code (Form 4720).
    OMB Number: 1545-0052.
    Form Number: 990-PF and 4720.
    Abstract: Internal Revenue Code section 6033 requires all private 
foundations, including section 4947(a)(1) trusts treated as private 
foundations, to file an annual information return. Section 53.4940-1(a) 
of the Income Tax Regulations requires that the tax on net investment 
income be reported on the return filed under section 6033. Form 990-PF 
is used for this purpose. Section 6011 requires a report of taxes under 
Chapter 42 of the Code for prohibited acts by private foundations and 
certain related parties. Form 4720 is used by foundations and/or 
related persons to report prohibited activities in detail and pay the 
tax on them.
    Current Actions: There are no changes being made to the forms at 
this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Non-profit institutions.
    Estimated Number of Respondents: 50,762.
    Estimated Time Per Respondent: 195 hr., 1 min.
    Estimated Total Annual Burden Hours: 9,898,977.
    The following paragraph applies to all of the collections of 
information covered by this notice:
    An agency may not conduct or sponsor, and a person is not required 
to respond to, a collection of information unless the collection of 
information displays a valid OMB control number. Books or records 
relating to a collection of information must be retained as long as 
their contents may become material in the administration of any 
internal revenue law. Generally, tax returns and tax return information 
are confidential, as required by 26 U.S.C. 6103.

Request for Comments

    Comments submitted in response to this notice will be summarized 
and/or included in the request for OMB approval. All comments will 
become a matter of public record. Comments are invited on: (a) Whether 
the collection of information is necessary for the proper performance 
of the functions of the agency, including whether the information shall 
have practical utility; (b) the accuracy of the agency's estimate of 
the burden of the collection of information; (c) ways to enhance the 
quality, utility, and clarity of the information to be collected; (d) 
ways to minimize the burden of the collection of information on 
respondents, including through the use of automated collection 
techniques or other forms of information technology; and (e) estimates 
of capital or start-up costs and costs of operation, maintenance, and 
purchase of services to provide information.


[[Page 38192]]


    Approved: July 8, 1997.
Garrick R. Shear,
IRS Reports Clearance Officer.
[FR Doc. 97-18752 Filed 7-15-97; 8:45 am]
BILLING CODE 4830-01-U