[Federal Register Volume 64, Number 24 (Friday, February 5, 1999)]
[Notices]
[Pages 5861-5862]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-2704]


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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

January 27, 1999.
    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.

DATES: Written comments should be received on or before March 8, 1999 
to be assured of consideration.

Internal Revenue Service (IRS)

    OMB Number: 1545-0203.
    Form Number: IRS Form 5329.
    Type of Review: Extension.
    Title: Additional Taxes Attributable to IRAs, Other Qualified 
Retirement Plans, Annuities, Modified Endowment Contract, and MSAs.
    Description: This form is used to compute and collect taxes related 
to early distributions from individual retirement arrangements (IRAs) 
and other qualified retirement plans; distributions from education (ED) 
IRAs not used for educational expenses; excess contributions to 
traditional IRAs, ED IRAs, and medical savings accounts (MSAs); and 
excess accumulations in qualified retirement plans.
    Respondents: Individuals or households.

[[Page 5862]]

    Estimated Number of Respondents/Recordkeepers: 1,000,000.
    Estimated Burden Hours Per Respondent/Recordkeeper:

Recordkeeping--1 hr., 59 min.
Learning about the law or the form--42 min.
Preparing the form--1 hr., 0 min.
Copying, assembling and sending the form to the IRS--14 min.

    Frequency of Response: On occasion.
    Estimated Total Reporting/Recordkeeping Burden: 1,042,400 hours.

    OMB Number: 1545-1552.
    Form Number: IRS Form 8839.
    Type of Review: Extension.
    Title: Qualified Adoption Expenses.
    Description: Section 23 of the Internal Revenue Code allows 
taxpayers to claim a nonrefundable tax credit for qualified adoption 
expenses paid or incurred by the taxpayer. Code section 137 allows 
taxpayers to exclude amounts paid or expenses incurred by an employer 
for the qualified adoption expenses of the employee which are paid 
under an adoption assistance program. Form 8839 is used to figure the 
credit and/or exclusion.
    Respondents: Individuals or households.
    Estimated Number of Respondents/Recordkeepers: 50,000.
    Estimated Burden Hours Per Respondent/Recordkeeper:

Recordkeeping--46 min.
Learning about the law or the form--20 min.
Preparing the form--1 hr., 31 min.
Copying, assembling, and sending the form to the IRS--35 min.

    Frequency of Response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 159,500 hours.
    Clearance Officer: Garrick Shear, 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 10202, New Executive Office Building, 
Washington, DC 20503.
Lois K. Holland,
Departmental Reports Management Officer.
[FR Doc. 99-2704 Filed 2-4-99; 8:45 am]
BILLING CODE 4830-01-P