[Federal Register Volume 66, Number 113 (Tuesday, June 12, 2001)]
[Notices]
[Pages 31753-31754]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-14683]


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DEPARTMENT OF THE TREASURY


Submission for OMB review; comment request

June 5, 2001.
    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 12, 2001 
to be assured of consideration.

Internal Revenue Service (IRS)

    OMB Number: 1545-0112.
    Form Number: IRS Form 1099-INT.
    Type of Review: Extension.
    Title: Interest Income.
    Description: This form is used for reporting interest income paid, 
as required by sections 6049 and 6041 of the Internal Revenue Code. It 
is used to verify that payees are correctly reporting their income.
    Respondents: Business or other for-profit, Individuals or 
households, Not-for-profit institutions, Federal Government.
    Estimated Number of Respondents/Recordkeepers: 709,000.
    Estimated Burden Hours Per Respondent/Recordkeeper: 12 minutes.
    Frequency of Response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 54,979,533 hours.

    OMB Number: 1545-0715.
    Form Number: IRS Form 1099-B.
    Type of Review: Extension.
    Title: Proceeds From Broker and Barter Exchange Transactions.
    Description: Form 1099-B is used by brokers and barter exchanges to 
report proceeds from transactions to the Internal Revenue Service.
    Respondents: Individuals or households.
    Estimated Number of Respondents/Recordkeepers: 50,000.
    Estimated Burden Hours Per Respondent/Recordkeeper: 15 minutes.
    Frequency of Response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 29,402,969 hours.

    OMB Number: 1545-1342.
    Form Number: IRS Form W-5.
    Type of Review: Extension.
    Title: Earned Income Credit Advance Payment Certificate.
    Description: Form W-5 is used by employees to see if they are 
eligible for the earned income credit and to request part of the credit 
in advance with their pay. Eligible employees who want advance payments 
must give Form W-5 to their employers.
    Respondents: Individuals or households.
    Estimated Number of Respondents/Recordkeepers: 183,450.
    Estimated Burden Hours Per Respondent/Recordkeeper:

Recordkeeping.............................  7 min.
Learning about the law or the form........  11 min.
Preparing the form........................  27 min.
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    Frequency of Response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 137,588 hours.


[[Page 31754]]


    OMB Number: 1545-1596.
    Form Number: IRS Form 8857.
    Type of Review: Extension.
    Title: Request for Innocent Spouse Relief.
    Description: Section 6103(e) of the Internal Revenue Code allows 
taxpayers to request, and IRS to grant, ``innocent spouse'' relief 
when: taxpayer filed a joint return with tax substantially understated; 
taxpayer establishes no knowledge of, or benefit from, the 
understatement; and it would be inequitable to hold the taxpayer 
liable. GAO Report GAO/GGD-97-34 recommended that IRS develop a form to 
make relief easier for the public to request.
    Respondents: Individuals or households.
    Estimated Number of Respondents: 21,336.
    Estimated Burden Hours Per Respondent:

Learning about the law or the form........  17 min.
Preparing the form........................  22 min.
Copying, assembling, and sending the form   20 min.
 to the IRS.
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    Frequency of Response: On occasion.
    Estimated Total Reporting Burden: 21,123 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. 01-14683 Filed 6-11-01; 8:45 am]
BILLING CODE 4830-01-P