[Federal Register Volume 65, Number 102 (Thursday, May 25, 2000)]
[Notices]
[Pages 33886-33887]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 00-13121]


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DEPARTMENT OF THE TREASURY

Submission for OMB Review; Comment Request


  

May 18, 2000.
    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 June 26, 2000 
to be assured of consideration.

Internal Revenue Service (IRS)

    OMB Number: 1545-0195.
    Form Number: IRS Form 5213.
    Type of Review: Extension.
    Title: Election To Postpone Determination as To Whether the 
Presumption Applies That an Activity Is Engaged in for Profit.

[[Page 33887]]

    Description: This form is used by individuals, partnerships, 
estates, trusts, and S corporations to make an election to postpone an 
IRS determination as to whether an activity is engaged in for profit 
for 5 years (7 years for breeding, training, showing, or racing 
horses). The data is used to verify eligibility to make the election.
    Respondents: Business or other for-profit, Individual or 
households.
    Estimated Number of Respondents/Recordkeepers: 10,730.
    Estimated Burden Hours Per Respondent/Recordkeeper:

------------------------------------------------------------------------
 
------------------------------------------------------------------------
Recordkeeping.............................  7 min.
Learning about the law or the form........  10 min.
Preparing the form........................  10 min.
Copying, assembling, and sending the form   20 min.
 to the IRS.
------------------------------------------------------------------------

    Frequency of Response: On occasion.
    Estimated Total Reporting/Recordkeeping Burden: 8,262 hours.

    OMB Number: 1545-0495.
    Form Number: IRS Form 4506-A.
    Type of Review: Extension.
    Title: Request for Public Inspection or Copy of Exempt Organization 
IRS Form.
    Description: Internal Revenue Code section 6104 states that if an 
organization described in section 501(c) or (d) is exempt from taxation 
under section 501(a) for any taxable year, the application for 
exemption is open for public inspection. This includes all supporting 
documents, any letter or other documents issued by the IRS concerning 
the application, and certain annual returns of the organization. Form 
4506-A is used to request public inspection or a copy of these 
documents.
    Respondents: Business or other for-profit, Individuals or 
households, Not-for-profit institutions, Farms, Federal Government, 
State, Local or Tribal Government.
    Estimated Number of Respondents/Recordkeepers: 20,000.
    Estimated Burden Hours Per Respondent/Recordkeeper:

------------------------------------------------------------------------
 
------------------------------------------------------------------------
Recordkeeping.............................  7 min.
Learning about the law or the form........  3 min.
Preparing the form........................  13 min.
Copying, assembling, and sending the form   14 min.
 to the IRS.
------------------------------------------------------------------------

    Frequency of Response: On occasion.
    Estimated Total Reporting/Recordkeeping Burden: 12,000 hours.

    OMB Number: 1545-0865.
    Form Number: IRS Form 8264.
    Type of Review: Extension.
    Title: Application for Registration of a Tax Shelter.
    Description: Organizers of certain tax shelters are required to 
register them with the IRS using Form 8264. Other persons may have to 
register the tax shelter if the organizer doesn't. We use the 
information to five the tax shelter a registration number. Sellers of 
interests in the tax shelter furnish the number of investors who report 
the number on their tax returns.
    Respondents: Business or other for-profit, Individuals or 
households.
    Estimated Number of Respondents/Recordkeepers: 1,000.
    Estimated Burden Hours Per Respondent/Recordkeeper:

------------------------------------------------------------------------
 
------------------------------------------------------------------------
Recordkeeping.............................  31 hr., 49 min.
Learning about the law or the form........  1 hr., 17 min.
Preparing, copying, assembling, and         1 hr., 52 min.
 sending the form to the IRS.
------------------------------------------------------------------------

    Frequency of Response: On occasion.
    Estimated Total Reporting/Recordkeeping Burden: 34,960 hours.
    OMB Number: 1545-0881.
    Form Number: IRS Form 8271.
    Type of Review: Extension.
    Title: Investor Reporting of Tax Shelter Registration Number.
    Description: All persons who are claiming a deduction, loss, 
credit, or other tax benefit, or reporting any income on their returns 
from a tax shelter required to be registered (under IRC 6111) must 
report the tax shelter registration number on that return. Form 8271 is 
used for this purpose. We use the information to associate claimed 
benefits with the tax shelter and to determine if any compliance 
actions are needed.
    Respondents: Individuals or households, Business or other for-
profit, Not-for-profit institutions, Farms, State, Local or Tribal 
Government.
    Estimated Number of Respondents/Recordkeepers: 297,500.
    Estimated Burden Hours Per Respondent/Recordkeeper:

------------------------------------------------------------------------
 
------------------------------------------------------------------------
Recordkeeping.............................  7 min.
Learning about the law or the form........  8 min.
Preparing the form........................  17 min.
Copying, assembling, and sending the form   10 min.
 to the IRS.
------------------------------------------------------------------------

    Frequency of Response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 205,275 hours.

    Clearance Officer: Garrick Shear, Internal Revenue Service, Room 
5244, 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. 00-13121 Filed 5-24-00; 8:45 am]
BILLING CODE 4830-01-P