[Federal Register Volume 66, Number 145 (Friday, July 27, 2001)]
[Notices]
[Pages 39224-39225]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-18704]


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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

July 20, 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 27, 
2001, to be assured of consideration.

Internal Revenue Service (IRS)

    OMB Number: 1545-0099.
    Form Number: IRS Form 1065, Schedule D and Schedule K-1.
    Type of Review: Revision.
    Title: U.S. Return of Partnership Income (Form 1065); Capital Gains 
and Losses (Schedule D); and Partner's Share of Income, Credits, 
Deductions, etc. (Schedule K-1).
    Description: Internal Revenue Code (IRC) section 6031 requires 
partnerships to file returns that show gross income items, allowable 
deductions, partner's names, addresses, and distribution shares, and 
other information. This information is used to verify correct reporting 
of partnership items and for general statistics.
    Respondents: Business or other for-profit, Individuals or 
households, farms.
    Estimated Number of Respondents/Recordkeepers: 1,487,900.
    Estimated Burden Hours Per Respondent/Recordkeeper:

[[Page 39225]]



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                                                                                                   Copying,
                                                      Learning about the                        assembling, and
          Form/Schedule              Recordkeeping      law or the form   Preparing the form   sending the form
                                                                                                  to the IRS
----------------------------------------------------------------------------------------------------------------
1065............................  41 hr., 54 min....  23 hr., 35 min....  41 hr., 48 min....  4 hr., 1 min
Schedule D (Form 1065)..........  6 hr., 56 min.....  2 hr., 10 min.....  2 hr., 23 min.....
Schedule K-1 (Form 1065)........  26 hr., 46 min....  10 hr., 25 min....  11 hr., 19 min....
Schedule L (Form 1065)..........  15 hr., 32 min....  6 min.............  21 min............
Schedule M-1 (Form 1065)........  3 hr., 21 min.....  12 min............  16 min............
Schedule M-2 (Form 1065)........  2 hr., 52 min.....  6 min.............  9 min.............
----------------------------------------------------------------------------------------------------------------


    Frequency of Response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 1,211,925,094 
hours.
    OMB Number: 1545-1173.
    Form Number: IRS Form 8815.
    Type of Review: Extension.
    Title: Exclusion of Interest From Series EE and I U.S. Savings 
Bonds Issued After 1989.
    Description: If an individual redeems series I or series EE U.S. 
savings bonds issued after 1989 and pays qualified higher education 
expenses during the year, the interest on the bonds may be excludable 
from income. Form 8815 is used by the individual to figure the amount 
of savings bond interest that is excludable.
    Respondents: Individuals or households.
    Estimated Number of Respondents/Recordkeepers: 25,000.
    Estimated Burden Hours Per Respondent/Recordkeeper:

Recordkeeping--53 min.
Learning about the law or the form--13 min.
Preparing the form--38 min.
Copying, assembling, and sending the form to the IRS--20 min.
    Frequency of Response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 51,110 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. 01-18704 Filed 7-26-01; 8:45 am]
BILLING CODE 4830-01-P