[Federal Register Volume 65, Number 135 (Thursday, July 13, 2000)]
[Notices]
[Pages 43401-43403]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 00-17686]


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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

July 3, 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 August 14, 2000 
to be assured of consideration.

INTERNAL REVENUE SERVICE (IRS)

    OMB Number: 1545-0046.
    Form Number: IRS Form 982.
    Type of Review: Extension.
    Title: Reduction of Tax Attributes Due to Discharge of Indebtedness 
(and Section 1082 Basis Adjustment).
    Description: Internal Revenue Code section 108 allows taxpayers to 
exclude from gross income amounts attributable to discharge of 
indebtedness in title 11 cases, insolvency, or a qualified farm 
indebtedness. Code section 1081(b) allows corporations to exclude from 
gross income amounts attributable to certain transfers of property. The 
data is used to verify adjustments to basis of property and reduction 
of tax attributes.
    Respondents: Business or other for-profit, Individuals or 
households, Farms, Federal Government, State, Local or Tribal 
Government.
    Estimated Number of Respondents/Recordkeepers: 1,000.
    Estimated Burden Hours Per Respondent/Recordkeeper:

------------------------------------------------------------------------
 
------------------------------------------------------------------------
Recordkeeping.............................  5 hr., 18 min.
Learning about the law or the form........  2 hr., 44 min.
Preparing and sending the form to the IRS.  2 hr., 22 min.
------------------------------------------------------------------------

    Frequency of Response: On occasion.
    Estimated Total Reporting/Recordkeeping Burden: 10,290 hours.

    OMB Number: 1545-0059.
    Form Number: IRS Form 4137.
    Type of Review: Extension.
    Title: Social Security and Medicare Tax on Unreported Tip Income.
    Description: Section 3102 requires an employee who receives tips 
subject to Social Security and Medicare tax to compute tax due on these 
tips if the employee did not report them to his or her employer. The 
data is used to help verify that the Social Security and Medicare tax 
on tip income is correctly computed.
    Respondents: Individuals or households.
    Estimated Number of Respondents/Recordkeepers: 76,000.
    Estimated Burden Hours Per Respondent/Recordkeeper:

------------------------------------------------------------------------
 
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Recordkeeping.............................  26 min.
Learning about the law or the form........  7 min.
Preparing the form........................  26 min.
Copying, assembling, and sending the form   20 min.
 to the IRS.
------------------------------------------------------------------------

    Frequency of Response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 101,080 hours.

    OMB Number: 1545-0062.
    Form Number: IRS Form 3903.
    Type of Review: Extension.
    Title: Moving Expenses.
    Description: Internal Revenue Code (IRC) section 217 requires 
itemization of various allowable moving expenses. Form 3903 is filed 
with Form 1040 by individuals claiming employment related moves. The 
data is used to help verify that the expenses are deductible and that 
the deduction is computed correctly.
    Respondents: Individuals or households.
    Estimated Number of Respondents/Recordkeepers: 678,678.
    Estimated Burden Hours Per Respondent/Recordkeeper:

------------------------------------------------------------------------
 
------------------------------------------------------------------------
Recordkeeping.............................  33 min.
Learning about the law or the form........  9 min.
Preparing the form........................  13 min.
Copying, assembling, and sending the form   14 min.
 to the IRS.
------------------------------------------------------------------------

    Frequency of Response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 773,693 hours.

    OMB Number: 1545-0139.
    Form Number: IRS Form 2106.
    Type of Review: Revision.
    Title: Employee Business Expenses.
    Description: Internal Revenue Code (IRC) section 62 allows 
employees to deduct their business expenses to the extent of 
reimbursement in computing ``Adjusted Gross Income''. Expenses in 
excess of reimbursements are allowed as an itemized deduction. 
Unreimbursed meals and entertainment are allowed to the extent of 50% 
of the expense. Form 2106 is used to figure these expenses.
    Respondents: Individuals or households.
    Estimated Number of Respondents/Recordkeepers: 762,514.
    Estimated Burden Hours Per Respondent/Recordkeeper:

------------------------------------------------------------------------
 
------------------------------------------------------------------------
Recordkeeping.............................  2 hr., 11 min.
Learning about the law or the form........  26 min.

[[Page 43402]]

 
Preparing the form........................  14 min.
Copying, assembling, and sending the form   35 min.
 to the IRS.
------------------------------------------------------------------------

    Frequency of Response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 3,189,745 hours.
    OMB Number: 1545-0162.
    Form Number: IRS Form 4136.
    Type of Review: Extension.
    Title: Credit for Federal Tax Paid on Fuels.
    Description: Internal Revenue Code (IRC) section 34 allows a credit 
for Federal excise tax for certain fuel uses. This form is used to 
figure the amount of the income tax credit. The data is used to verify 
the validity of the claim for the type of nontaxable or exempt use.
    Respondents: Business or other for-profit, Individuals or 
households, Not-for-profit institutions, Farms.
    Estimated Number of Respondents/Recordkeepers: 619,851.
    Estimated Burden Hours Per Respondent/Recordkeepers:

------------------------------------------------------------------------
 
------------------------------------------------------------------------
Recordkeeping.............................  16 hr., 29 min.
Learning about the law or the form........  6 min.
Preparing and sending the form to the IRS.  22 min.
------------------------------------------------------------------------

    Frequency of Response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 2,618,453 hours.

    OMB Number: 1545-0215.
    Form Number: IRS Forms 5712 and 5712-A.
    Type of Review: Revision.
    Title: Election To Be Treated as a Possessions Corporation Under 
Section 936 (5712); and Election and Verification of the Cost Sharing 
or Profit Split Method Under Section 936(h)(5) (5712-A).
    Description: Domestic corporations may elect to be treated as 
possessions corporations on Form 5712. This election allows the 
corporation to take a tax credit. Possession corporations may elect on 
Form 5712-A to share their taxable income with their affiliates under 
Internal Revenue Code section 936(h)(5). These forms are used by the 
IRS to ascertain corporations are entitled to the credit and if they 
may share their taxable income with their affiliates.
    Respondents: Business or other for-profit, Farms, Federal 
Government, State, Local or Tribal Government.
    Estimated Number of Respondents/Recordkeepers: 2,600.
    Estimated Burden Hours Per Respondent/Recordkeeper:

------------------------------------------------------------------------
                                       Form 5712          Form 5712-A
------------------------------------------------------------------------
Recordkeeping...................  4 hr., 32 min.....  5 hr., 44 min.
Learning about the law or the     35 min............  1 hr., 0 min.
 form.
Preparing and sending the form    42 min............  1 hr., 8 min.
 to the IRS.
------------------------------------------------------------------------

    Frequency of Response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 20,258 hours

    OMB Number: 1545-0712.
    Form Number: IRS Form 6198.
    Type of Review: Extension.
    Title: At-Risk Limitations.
    Description: Internal Revenue Code (IRC) section 465 requires 
taxpayers to limit their at-risk loss to the lesser of the loss or 
their amount at risk. Form 6198 is used by taxpayers to determine their 
deductible loss and by IRS to verify the amount deducted.
    Respondents: Business or other for-profit, Individuals or 
households, Not-for-profit institutions, Farms.
    Estimated Number of Respondents/Recordkeepers: 185,167.
    Estimated Burden Hours Per Respondent/Recordkeeper:

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------------------------------------------------------------------------
Recordkeeping.............................  1 hr., 12 min.
Learning about the law or the form........  1 hr., 0 min.
Preparing the form........................  1 hr., 26 min.
Copying, assembling, and sending the form   20 min.
 to the IRS.
------------------------------------------------------------------------

    Frequency of Response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 735,113 hours.

    OMB Number: 1545-0770.
    Regulation Project Number: FI-182-78 NPRM.
    Type of Review: Extension.
    Title: Transfers of Securities Under Certain Agreements.
    Description: Section 1058 of the Internal Revenue Code provides 
tax-free treatment for transfers of securities pursuant to a securities 
lending agreement. The agreement must be in writing and is used by the 
taxpayer, in a tax audit situation, to justify nonrecognition treatment 
of gain or loss on the exchange of the securities.
    Respondents: Business or other for-profit, Individuals or 
households, Not-for-profit institutions.
    Estimated Number of Respondents: 11,742.
    Estimated Burden Hours Per Respondent: 50 minutes.
    Frequency of Response: On occasion.
    Estimated Total Reporting Burden: 9,781hours.

    OMB Number: 1545-1035.
    Form Number: IRS Form 8611.
    Type of Review: Extension.
    Title: Recapture of Low-Income Housing Credit.
    Description: Internal Revenue Code (IRC) section 42 permits owners 
of residential rental projects providing low-income housing to claim a 
credit against their income tax. If the property is disposed of or it 
fails to meet certain requirements over a 15-year compliance period and 
a bond is not posted, the owner must recapture on Form 8611 part of the 
credit(s) taken in prior years.
    Respondents: Business or other for-profit, Individuals or 
households.
    Estimated Number of Respondents/Recordkeepers: 1,200.
    Estimated Burden Hours Per Respondent/Recordkeeper:

------------------------------------------------------------------------
 
------------------------------------------------------------------------
Recordkeeping.............................  7 hr., 40 min.
Learning about the law or the form........  1 hr., 0 min.
Preparing and sending the form to the IRS.  1 hr., 11 min.
------------------------------------------------------------------------

    Frequency of Response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 10,855 hours.

    OMB Number: 1545-1057.
    Form Number: IRS Form 8800.
    Type of Review: Extension.
    Title: Application for Additional Extension of Time to File U.S. 
Return for a Partnership, REMIC, or for Certain Trusts.
    Description: Form 8800 is used by partnerships, real estate 
mortgage investment conduits (REMICs), and by certain trusts to request 
an additional extension of time (up to 3 months) to file Form 1065, 
Form 1041, or Form 1066. Form 8800 contains data needed by the IRS to 
determine whether or not a taxpayer qualifies for such an extension.
    Respondents: Business or other for-profit, Farms.
    Estimated Number of Respondents/Recordkeepers: 20,000.
    Estimated Burden Hours Per Respondent/Recordkeeper: 11 minutes.
    Frequency of Response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 3,800 hours.
    OMB Number: 1545-1163.
    Form Number: IRS Form 8822.
    Type of Review: Extension.
    Title: Change of Address.
    Description: Form 8822 is used by taxpayers to notify the Internal 
Revenue Service that they have changed their home or business address 
or business location.
    Respondents: Individuals or households, Business or other for-
profit,

[[Page 43403]]

Not-for-profit institutions, Farms, Federal Government, State, Local or 
Tribal Government.
    Estimated Number of Respondents: 1,500,000.
    Estimated Burden Hours Per Respondent: 16 minutes.
    Frequency of Response: On occasion.
    Estimated Total Reporting Burden: 387,501 hours.

    OMB Number: 1545-1350.
    Form Number: IRS Form 9465.
    Type of Review: Extension.
    Title: Installment Agreement Request.
    Description: Form 9465 is used by the public to provide identifying 
account information and financial ability to enter into an installment 
agreement for the payment of taxes. The form is used by IRS to 
establish a payment plan for taxes owed to the Federal Government, if 
appropriate, and to inform taxpayers about the application fee and 
their financial responsibilities.
    Respondents: Individuals or households.
    Estimated Number of Respondents: 760,000.
    Estimated Burden Hours Per Respondent:

------------------------------------------------------------------------
 
------------------------------------------------------------------------
Learning about the law or the form........  17 min.
Preparing the form........................  26 min.
Copying, assembling, and sending the form   20 min.
 to the IRS.
------------------------------------------------------------------------

    Frequency of Response: On occasion.
    Estimated Total Reporting Burden: 805,600 hours.
    OMB Number: 1545-1441.
    Form Number: IRS Form 2106-EZ.
    Type of Review: Revision.
    Title: Unreimbursed Employee Business Expenses.
    Description: Internal Revenue Code (IRC) section 62 allows 
employees to deduct their business expenses to the extent of 
reimbursement in computing ``Adjusted Gross Income''. Expenses in 
excess of reimbursements are allowed as an itemized deduction. 
Unreimbursed meals and entertainment are allowed to the extent of 50% 
of the expense. Form 2106-EZ is used to figure these expenses.
    Respondents: Individuals or households.
    Estimated Number of Respondents/Recordkeepers: 3,337,019.
    Estimated Burden Hours Per Respondent/Recordkeeper:

------------------------------------------------------------------------
 
------------------------------------------------------------------------
Recordkeeping.............................  40 min.
Learning about the law or the form........  12 min.
Preparing the form........................  24 min.
Copying, assembling, and sending the form   20 min.
 to the IRS.
------------------------------------------------------------------------

    Frequency of Response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 5,339,230 hours.

    OMB Number: 1545-1442.
    Regulation Project Number: PS-79-93 Final.
    Type of Review: Extension.
    Title: Grantor Trust Reporting Requirements.
    Description: The information required by these regulations is used 
by the Internal Revenue Service to ensure that items of income, 
deduction, and credit of a trust treated as owned by the grantor or 
another person are properly reported.
    Respondents: Business or other for-profit, Individuals or 
households.
    Estimated Number of Respondents: 1,840,000.
    Estimated Burden Hours Per Respondent: 30 minutes.
    Frequency of Response: Annually.
    Estimated Total Reporting Burden: 920,000 hours.

    OMB Number: 1545-1679.
    Form Number: IRS Form 2031.
    Type of Review: Extension.
    Title: Revocation of Exemption From Self-Employment Tax for Use by 
Ministers, Members of Religious Orders, and Christian Science 
Practitioners.
    Description: Form 2031 is used by certain individuals wishing to 
revoke their election to be exempt from social security coverage and 
self-employment taxes.
    Respondents: Individuals or households.
    Estimated Number of Respondents/Recordkeepers: 5,000.
    Estimated Burden Hours Per Respondent/Recordkeeper:

------------------------------------------------------------------------
 
------------------------------------------------------------------------
Learning about the law or the form........  11 min.
Preparing the form........................  11 min.
Copying, assembling, and sending the form   14 min.
 to the IRS.
------------------------------------------------------------------------

    Frequency of Response: Other (One-Time).
    Estimated Total Reporting/Recordkeeping Burden: 3,000 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. 00-17686 Filed 7-12-00; 8:45 am]
BILLING CODE 4830-01-P