[Federal Register Volume 66, Number 137 (Tuesday, July 17, 2001)]
[Notices]
[Pages 37269-37270]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-17763]


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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

July 10, 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 August 16, 2001 
to be assured of consideration.

[[Page 37270]]

Internal Revenue Service (IRS)

    OMB Number: 1545-0191.
    Form Number: IRS Form 4952.
    Type of Review: Extension.
    Title: Investment Interest Expense Deduction.
    Description: Form 4952 is used by taxpayers who paid or accrued 
interest on money borrowed to purchase or carry investment property. 
The form is used to compute the allowable deduction for interest on 
investment indebtedness and the information obtained is necessary to 
verify the amount actually deducted.
    Respondents: Individuals or households, Business or other for-
profit.
    Estimated Number of Respondents/Recordkeepers: 800,000.
    Estimated Burden Hours Per Respondent/Recordkeeper:

Recordkeeping--13 min.
Learning about the law or the form--16 min.
Preparing the form--21 min.
Copying, assembling, and sending the form to the IRS--10 min.

    Frequency of Response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 808,000 hours.

    OMB Number: 1545-1056.
    Regulation Project Number: REG-209020-86 NPRM & Temporary (formerly 
INTL-61-86).
    Type of Review: Extension.
    Title: Foreign Tax Credit; Notification and Adjustment Due to 
Foreign Tax Redeterminations.
    Description: Section 905(c) requires notification and 
redetermination of a taxpayer's United States tax liability to account 
for the effect of a foreign tax redetermination, in certain cases. The 
reporting requirements will enable the Internal Revenue Service to 
recompute a taxpayer's United States Tax liability.
    Respondents: Individuals or households, Business or other for-
profit.
    Estimated Number of Respondents: 10,000.
    Estimated Burden Hours Per Respondent: 1 hour.
    Frequency of Response: On occasion.
    Estimated Total Reporting Burden: 10,000 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. 01-17763 Filed 7-16-01; 8:45 am]
BILLING CODE 4830-01-P