[Federal Register Volume 67, Number 23 (Monday, February 4, 2002)]
[Notices]
[Pages 5145-5146]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-2596]


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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

January 28, 2002.
    The Department of Treasury has submitted the following public 
information collection requirement(s) to

[[Page 5146]]

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 March 6, 2002, 
to be assured of consideration.

Internal Revenue Service (IRS)

    OMB Number: 1545-1394.
    Form Number: IRS Form 1120-SF.
    Type of Review: Extension.
    Title: U.S. Income Tax Return for Settlement Funds (Under Section 
468B).
    Description: Form 1120-SF is used by settlement funds to report 
income and taxes on earnings of the fund. The fund may be established 
by court order, a breach of contract, a violation of law, an 
arbitration panel, or the Environmental Protection Agency. The IRS uses 
Form 1120-SF to determine if income and taxes are correctly computed.
    Respondents: Business or other for-profit.
    Estimated Number of Respondents/Recordkeepers: 1,000.
    Estimated Burden Hours Per Respondent/Recordkeeper:

    Recordkeeping--18 hr., 39 min.
    Learning about the law or the form--2 hr., 43 min.
    Preparing the form--5 hr., 0 min.
    Copying, assembling, and sending the form to the IRS--32 min.

    Frequency of Response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 26,920 hours.
    Clearance Officer: George Freeland, Internal Revenue Service, Room 
5577, 1111 Constitution Avenue, NW, Washington, DC 20224.
    OMB Reviewer: Alexander T. Hunt, Office of Management and Budget, 
Room 10202, New Executive Office Building, Washington, DC 20503, (202) 
395-7860.

Lois K. Holland,
Departmental Reports Management Officer.
[FR Doc. 02-2596 Filed 2-1-02; 8:45 am]
BILLING CODE 4830-01-U