[Federal Register Volume 67, Number 74 (Wednesday, April 17, 2002)]
[Notices]
[Pages 18982-18983]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-9320]


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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

April 10, 2002.
    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 May 17, 2002, 
to be assured of consideration.

Internal Revenue Service (IRS)

    OMB Number: 1545-0879.
    Regulation Project Number: IA-195-78 Final.
    Type of Review: Extension.
    Title: Certain Returned Magazines, Paperbacks or Records.
    Description: The regulations provide rules relating to an exclusion 
from gross income for certain returned merchandise. The regulations 
provide that in addition to physical return of the merchandise, a 
written statement listing certain information may constitute

[[Page 18983]]

evidence of the return. Taxpayers who receive physical evidence of the 
return may, in lieu of retaining physical evidence, retain documentary 
evidence of the return. Taxpayers in the trade or business of selling 
magazines, paperbacks, or records, who elect to use a certain method of 
accounting, are affected.
    Respondents: Business or other for-profit.
    Estimated Number of Recordkeepers: 19,500.
    Estimated Burden Hours Per Respondent/Recordkeeper: 25 minutes.
    Estimated Total Recordkeeping Burden: 8,125 hours.
    OMB Number: 1545-1269.
    Regulation Project Number: PS-7-90 Final.
    Type of Review: Extension.
    Title: Nuclear Decommissioning Fund Qualification Requirements.
    Description: If a taxpayer requests, in connection with a request 
for a schedule of ruling amounts, a ruling as to the classification of 
certain unincorporated organizations, the taxpayer is required to 
submit a copy of the documents establishing or governing the 
organization.
    Respondents: Business or other for-profit.
    Estimated Number of Respondents: 50.
    Estimated Burden Hours Per Respondent: 3 hours.
    Frequency of Response: On occasion.
    Estimated Total Reporting Burden: 150 hours.

    OMB Number: 1545-1484.
    Regulation Project Number: REG-242282-97 (formerly INTL-62-90, 
INTL-32-93, INTL-52-86 and INTL-52-94) Final.
    Type of Review: Extension.
    Title: General Revision of Regulations Relating to Withholding of 
Tax on Certain U.S. Source Income Paid to Foreign Persons and Related 
Collection, Refunds, and Credits; Revision of Information of 
Information Reporting and Backup Withholding Regulations; and Removal 
of Regulations Under Part 35a and of Certain Regulations Under Income 
Tax Treaties.
    Description: The regulations are needed to provide guidance 
relating to the withholding of income of nonresident alien individuals 
and foreign corporations.
    Respondents: Business or other for-profit, Individuals or 
households, Not-for-profit institutions, Farms, Federal Government, 
State, Local or Tribal Government.
    Estimated Number of Respondents/Recordkeepers: 1.
    Estimated Burden Hours Per Respondent/Recordkeeper: 1 hour.
    Frequency of Response: On occasion.
    Estimated Total Reporting/Recordkeeping Burden: 1 hour.

    OMB Number: 1545-1581.
    Regulation Project Number: REG-209485-86 Final.
    Type of Review: Extension.
    Title: Continuation Coverage Requirements Applicable to Group 
Health Plans.
    Description: The statute and the regulations require group health 
plans to provide notices to individuals who are entitled to elect the 
Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA) 
continuation coverage of their election rights. Individuals who wish to 
obtain the benefits provided under the statute are required to provide 
plans notices in the cases of divorce from the covered employee, a 
dependent child's ceasing to be a dependent under the terms of the 
plan, and disability. Most plans will require that elections of COBRA 
continuation coverage be made in writing. In cases where qualified 
beneficiaries are short by an insignificant amount in a payment made to 
the plan, the regulations require the plan to notify the qualified 
beneficiary if the plan does not wish to treat the tendered payment as 
full payment. If a health care provider contacts a plan to confirm 
coverage of a qualified beneficiary, the regulations require that the 
plan disclose the qualified beneficiary's complete rights to coverage.
    Respondents: Business or other for-profit, Individuals or 
households, Not-for-profit institutions.
    Estimated Number of Respondents: 1,800,000.
    Estimated Burden Hours Per Respondent: 14 minutes.
    Frequency of Response: On occasion.
    Estimated Total Reporting Burden: 404,640 hours.

    OMB Number: 1545-1646.
    Regulation Project Number: REG-209060-86 Final.
    Type of Review: Extension.
    Title: Return Requirement for United States Persons Who Acquire or 
Dispose of an Interest in a Foreign Partnership, or Whose Proportional 
Interest in a Foreign Partnership Changes Substantially.
    Description: Section 6046A requires U.S. persons to provide certain 
information with respect to the acquisition or disposition of a 10-
percent interest in, or a 10-percent change in ownership of, a foreign 
partnership. This regulation provides reporting rules to identify U.S. 
persons with significant interests in foreign partnerships to ensure 
the correct reporting of items with respect to these interests.
    Respondents: Business or other for-profit, Individuals or 
households, Not-for-profit institutions.
    Estimated Number of Respondents: 1.
    Estimated Burden Hours Per Respondent: 89 hours, 15 minutes (For 
Form 8865).
    Frequency of Response: On occasion, Annually.
    Estimated Total Reporting Burden: 1 hour.
    Clearance Officer: Glenn P. Kirkland, Internal Revenue Service, 
Room 6411, 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.

Mary A. Able,
Departmental Reports Management Officer.
[FR Doc. 02-9320 Filed 4-16-02; 8:45 am]
BILLING CODE 4830-01-P