[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