[Federal Register Volume 64, Number 120 (Wednesday, June 23, 1999)]
[Notices]
[Pages 33546-33547]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-15883]
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DEPARTMENT OF THE TREASURY
Submission for OMB Review; Comment Request
June 15, 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 July 23, 1999
to be assured of consideration.
Internal Revenue Service (IRS)
OMB Number: 1545-0067.
Form Number: IRS Form 2555.
Type of Review: Revision.
Title: Foreign Earned Income.
Description: Form 2555 is used by U.S. citizens and resident aliens
who qualify for the foreign earned income exclusion and/or the foreign
housing exclusion or deduction. The information is used by the service
if a taxpayer qualifies for the exclusion(s) or deduction.
Respondents: Individuals or households.
Estimated Number of Respondents/Recordkeepers: 286,955.
Estimated Burden Hours Per Respondent/Recordkeeper:
Recordkeeping--1 hr., 52 min.
Learning about the law or the form--26 min.
Preparing the form--1 hr., 47 min.
Copying, assembling, and sending the form to the IRS--49 min.
Frequency of Response: Annually.
Estimated Total Reporting/Recordkeeping Burden: 1,403,210 hours.
OMB Number: 1545-0173.
Form Number: IRS Form 4563.
Type of Review: Extension.
Title: Exclusion of Income for Bona Fide Residents of American
Samoa.
Description: Form 4563 is used by bona fide residents of American
Samoa whose income is from sources within American Samoa, Guam, and the
Northern Mariana Islands to the extent specified in Internal Revenue
Code (IRC) section 931. This information is used by the IRS to
determine if an individual is eligible to exclude possession source
income.
Respondents: Individuals or households.
Estimated Number of Respondents/Recordkeepers: 100.
Estimated Burden Hours Per Respondent/Recordkeeper:
Recordkeeping--52 min.
Learning about the law or the form--7 min.
Preparing the form--28 min.
Copying, assembling, and sending the form to the IRS--17 min.
Frequency of Response: Annually.
Estimated Total Reporting/Recordkeeping Burden: 174 hours.
OMB Number: 1545-1119.
Form Number: IRS Forms 8804, 8805 and 8813.
Type of Review: Extension.
Title: Annual Return for Partnership Withholding Tax (Section 1446)
(Form 8804); Foreign Partner's Information Statement of Section 1446
Withholding Tax (Form 8805); and Partnership Withholding Tax Payment
(Section 1446) (Form 8813).
Description: Code section 1446 requires partnerships to pay a
withholding tax if they have effectively connected taxable income to
foreign partners. Forms 8804, 8805 and 8813 are used by withholding
agents to provide IRS and affected partners with data to assure proper
withholding, crediting to partners' accounts and compliance.
Respondents: Business or other for-profit, Individuals or
households.
Estimated Number of Respondents/Recordkeepers: 5,000.
Estimated Burden Hours Per Respondent/Recordkeeper:
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Form 8804 8805 8813
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Recordkeeping........................ 59 min................. 59 min................. 26 min.
Learning about the law or the form... 57 min................. 54 min................. 49 min.
Preparing the form................... 31 min................. 17 min................. 16 min.
Copying, assembling, and sending the 20 min................. 17 min................. 10 min.
form to the IRS.
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[[Page 33547]]
Frequency of Response: On occasion.
Estimated Total Reporting/Recordkeeping Burden: 121,200 hours.
OMB Number: 1545-1139.
Regulation Project Number: PS-264-82 Final.
Type of Review: Extension.
Title: Adjustments to Basis of Stock and Indebtedness to
Shareholders of S Corporations and Treatment of Distribution by S
Corporation to Shareholders.
Description: The regulations provide the procedures and the
statements to be filed by S corporations for making the election
provided under section 1368, and by shareholders who choose to reorder
items that decrease their basis. Statements required to be filed will
be used to verify that taxpayers are complying with the requirements.
Respondents: Business or other for-profit, Individuals or
households.
Estimated Number of Respondents/Recordkeepers: 2,000.
Estimated Burden Hours Per Respondent/Recordkeeper: 6 minutes.
Frequency of Response: Annually.
Estimated Total Reporting/Recordkeeping Burden: 200 hours.
OMB Number: 1545-1204.
Form Number: IRS Form 8823.
Type of Review: Extension.
Title: Low-Income Housing Credit Agencies Report of Noncompliance
Building Disposition.
Description: Form 8823 is used by housing agencies to report
noncompliance with the low-income housing provisions of Code section
42.
Respondents: State, Local or Tribal Government.
Estimated Number of Respondents/Recordkeepers: 20,000.
Estimated Burden Hours Per Respondent/Recordkeeper:
Recordkeeping--7 hr., 39 min.
Learning about the law or the form--30 min.
Preparing and sending the form to the IRS--39 min.
Frequency of Response: On occasion.
Estimated Total Reporting/Recordkeeping Burden: 176,000 hours.
OMB Number: 1545-1491.
Regulation Project Number: REG-209798-95 Final.
Type of Review: Extension.
Title: Amortizable Bond Premium.
Description: The information requested is necessary for the Service
to determine whether a holder of a bond has elected to amortize bond
premium and to determine whether an issuer or a holder has changed its
method of accounting for premium.
Respondents: Business or other for-profit, Individuals or
households.
Estimated Number of Respondents: 100,000.
Estimated Burden Hours Per Respondent: 30 minutes.
Frequency of Response: Other (once).
Estimated Total Reporting Burden: 50,000 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. 99-15883 Filed 6-22-99; 8:45 am]
BILLING CODE 4830-01-P