[Federal Register Volume 64, Number 34 (Monday, February 22, 1999)]
[Notices]
[Page 8637]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-4218]


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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

February 10, 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 24, 1999 
to be assured of consideration.

Internal Revenue Service (IRS)

    OMB Number: 1545-1622.
    Form Number: IRS Form 8866.
    Type of Review: Extension.
    Title: Interest Computation Under the Look-Back Method for Property 
Depreciated Under the Forecast Method.
    Description: Taxpayers depreciating property under the income 
forecast method and placed in service after September 13, 1995, must 
use Form 8866 to compute and report interest due or to be refunded 
under Internal Revenue Code (IRC) 167(g)(2). The IRS uses Form 8866 to 
determine if the interest has been figured correctly.
    Respondents: Individuals or households, Business or other for-
profit.
    Estimated Number of Respondents/Recordkeepers: 5,000.
    Estimated Burden Hours Per Respondent/Recordkeeper:

Recordkeeping--9 hr., 34 min.
Learning about the law or the form--1 hr., 5 min.
Preparing, Copying, assembling and sending the form to the IRS--1 hr., 
18 min.

    Frequency of Response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 59,800 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. 99-4218 Filed 2-19-99; 8:45 am]
BILLING CODE 4830-01-P