[Federal Register Volume 66, Number 151 (Monday, August 6, 2001)]
[Notices]
[Pages 41083-41084]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-19519]


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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

July 26, 2001.
    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 September 5, 
2001 to be assured of consideration.

Internal Revenue Service (IRS)

    OMB Number: 1545-0068.
    Form Number: IRS Form 2441.
    Type of Review: Extension.
    Title: Child and Dependent Care Expenses.
    Description: Internal Revenue Code (IRC) section 21 allows a credit 
for certain child and dependent care expenses to be claimed on Form 
1040 (reduced by employer-provided day care benefits excluded under 
section 129). Day care provider information must be reported to the IRS 
for both the credit and exclusion. Form 2441 is used to verify that the 
credit and exclusion are properly figured, and that provider 
information is reported.
    Respondents: Individuals or households.
    Estimated Number of Respondents/Recordkeepers: 6,519,859.
    Estimated Burden Hours Per Respondent/Recordkeeper:
Recordkeeping--40 min.
Learning about the law or the form--25 min.
Preparing the form--50 min.
Copying, assembling, and sending the form to the IRS--28 min.
    Frequency of Response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 15,517,265 hours.


[[Page 41084]]


    OMB Number: 1545-0187.
    Form Number: IRS Form 4835.
    Type of Review: Extension.
    Title: Farm Rental Income and Expenses.
    Description: This form is used by landowners (or sub-lessors) to 
report farm income based on crops or livestock produced by the tenant 
when the landowner (or sub-lessor) does not materially participate in 
the operation or management of the farm. This form is attached to Form 
1040 and the data is used to determine whether the proper amount of 
rental income has been reported.
    Respondents: Individuals or households, farms.
    Estimated Number of Respondents/Recordkeepers: 407,719.
    Estimated Burden Hours Per Respondent/Recordkeeper:
Recordkeeping--2 hr., 57 min.
Learning about the law or the form--5 min.
Preparing the form--1 hr., 2 min.
Copying, assembling, and sending the form to the IRS--20 min.
    Frequency of Response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 1,793,964 hours.
    OMB Number: 1545-0188.
    Form Number: IRS Form 4868.
    Type of Review: Extension.
    Title: Application for Automatic Extension of Time to File U.S. 
Individual Income Tax Return.
    Description: Form 4868 is used by taxpayers to apply for an 
automatic 4-month extension of time to file Form 1040A, or Form 1040EZ. 
This form contains data used by the Service to determine if a taxpayer 
qualifies for the extension.
    Respondents: Individuals or households.
    Estimated Number of Respondents/Recordkeepers: 5,572,999.
    Estimated Burden Hours Per Respondent/Recordkeeper:
Recordkeeping--26 min.
Learning about the law or the form--12 min.
Preparing the form--17 min.
Copying, assembling, and mailing the form to the IRS--10 min.
    Frequency of Response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 6,353,219 hours.

    OMB Number: 1545-1051.
    Regulation Project Number: INTL-29-91 Final.
    Type of Review: Extension.
    Title: Computation and Characterization of Income and Earnings and 
Profits under the Dollar Approximate Separate Transactions Method of 
Accounting (DASTM).
    Description: For taxable years after the final regulations are 
effective, taxpayers operating in hyperinflationary currencies must use 
the U.S. dollar as their functional currency and compute income using 
the dollar approximate separate transactions method (DASTM). Small 
taxpayers may elect an alternate method by which to compute income or 
loss. For prior taxable years in which income was computed using he 
profit and loss method, taxpayers may elect to recompute their income 
using DASTM.
    Respondents: Business or other for-profit.
    Estimated Number of Respondents: 700.
    Estimated Burden Hours Per Respondent: 1 hour, 26 minutes.
    Frequency of Response: On occasion, Other (one-time election).
    Estimated Total Reporting/Recordkeeping Burden: 1,000 hours.

    OMB Number: 1545-1620.
    Form Number: IRS Form 8812.
    Type of Review: Revision.
    Title: Additional Child Credit.
    Description: Section 24 of the Internal Revenue Code allows 
taxpayers a credit for each of their dependent children who is under 
age 17 at the close of the taxpayer's tax year. The credit is 
advantageous to taxpayers as it directly reduces the tax liability for 
the year and, if the taxpayer has three or more children, may result in 
a refundable amount of credit.
    Respondents: Individuals or households.
    Estimated Number of Respondents/Recordkeepers: 3,500,000.
    Estimated Burden Hours Per Respondent/Recordkeeper:
Recordkeeping--6 min.
Learning about the law or the form--5 min.
Preparing the form--22 min.
Copying, assembling, and sending the form to the IRS--20 min.
    Frequency of Response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 3,185,000 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. 01-19519 Filed 8-5-01; 8:45 am]
BILLING CODE 4830-01-P