[Federal Register Volume 65, Number 32 (Wednesday, February 16, 2000)]
[Notices]
[Pages 7917-7918]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 00-3567]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

[REG-209813-96]


Proposed Collection; Comment Request for Regulation Project

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 an 
existing notice of proposed rulemaking, REG-209813-96, Reporting 
Requirements for Widely Held Fixed Investment Trusts (Sec. 1.671-4(j)).

DATES: Written comments should be received on or before April 17, 2000, 
to be assured of consideration.

ADDRESSES: Direct all written comments to Garrick R. Shear, Internal 
Revenue Service, room 5244, 1111 Constitution Avenue NW., Washington, 
DC 20224.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the regulation should be directed to Carol Savage, (202) 622-
3945, Internal Revenue Service, room 5242, 1111 Constitution Avenue 
NW., Washington, DC 20224.

SUPPLEMENTARY INFORMATION:
    Title: Reporting Requirements for Widely Held Fixed Investment 
Trusts.
    OMB Number: 1545-1540.
    Regulation Project Number: REG-209813-96.
    Abstract: Under regulation section 1.671-4(j), the trustee or the 
middleman who holds an interest in a widely held fixed investment trust 
for an investor will be required to provide a Form 1099 to the IRS and 
a tax information statement to the investor. The trust is also required 
to provide more detailed tax information to middlemen and certain other 
persons, upon request.
    Current Actions: There is no change to this existing regulation.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents: 1,200.
    Estimated Time Per Respondent: 2 hours.
    Estimated Total Annual Burden Hours: 2,400.
    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;

[[Page 7918]]

and (e) estimates of capital or start-up costs and costs of operation, 
maintenance, and purchase of services to provide information.

    Approved: February 8, 2000.
Garrick R. Shear,
IRS Reports Clearance Officer.
[FR Doc. 00-3567 Filed 2-15-00; 8:45 am]
BILLING CODE 4830-01-U