[Federal Register Volume 65, Number 122 (Friday, June 23, 2000)]
[Notices]
[Page 39223]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 00-15879]


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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

June 16, 2000.
    The Department of the 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 24, 2000 
to be assured of consideration.

Internal Revenue Service (IRS)

    OMB Number: 1545-0771.
    Regulation Project Number: EE-63-88 Final and Temporary; IA-140-86 
Temporary; and REG-209785-95 Final.
    Type of Review: Extension.
    Title: Taxation of Fringe Benefits and Exclusions from Gross Income 
for Certain Fringe Benefits (EE-63-88); Fringe Benefits; Listed 
Property (IA-140-86); and Substantiation of Business Expenses (REG-
209785-95).
    Description: EE-63-88: This regulation provides guidance on the tax 
treatment of taxable and nontaxable fringe benefits and general and 
specific rules for the valuation of taxable fringe benefits in 
accordance with Code sections 61 and 132. The regulation also provides 
guidance on exclusions from gross income for certain fringe benefits.
    IA-140-86: This regulation provides guidance relating to the 
requirement that any deduction or credit with respect to business 
travel, entertainment, and gift expenses be substantiated with adequate 
records in accordance with Code section 274(d). The regulation also 
provides guidance on the taxation of fringe benefits and clarifies the 
types of records that are generally necessary to substantiate any 
deduction or credit for listed property.
    REG-209785-95: This regulation provides that taxpayers who deduct, 
or reimburse employees for, business expenses for travel, 
entertainment, gifts, or listed property are required to maintain 
certain records, including receipts, for expenses of $75 or more. The 
regulation amends existing regulations by raising the receipt threshold 
from $25 to $75.
    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: 28,582,150.
    Estimated Burden Hours Per Respondent/Recordkeeper: 1 hr., 18 min.
    Frequency of Response: On occasion.
    Estimated Total Reporting/Recordkeeping Burden: 37,922,688 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.

Mary A. Able,
Departmental Reports Management Officer.
[FR Doc. 00-15879 Filed 6-22-00; 8:45 am]
BILLING CODE 4830-01-P