[Federal Register Volume 67, Number 210 (Wednesday, October 30, 2002)]
[Notices]
[Page 66200]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-27538]



[[Page 66200]]

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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

October 22, 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, Pub. L. 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 
11000, 1750 Pennsylvania Avenue, NW., Washington, DC 20220.

DATES: Written comments should be received on or before November 29, 
2002, to be assured of consideration.

Internal Revenue Service (IRS)

    OMB Number: 1545-0168.
    Form Number: IRS Form 4361.
    Type of Review: Extension.
    Title: Application for Exemption from Self-Employment Tax for Use 
by Ministers, Members of Religious Orders and Christian Science 
Practitioners.
    Description: Form 4361 is used by ministers, members of religious 
orders, or Christian Science practitioners to file for an exemption 
from self-employment tax on certain earnings and to certify that they 
have informed the church or order that they are opposed to the 
acceptance of certain public insurance benefits.
    Respondents: Individuals or households.
    Estimated Number of Respondents/Recordkeepers: 10,270.
    Estimated Burden Hours Per Respondent/Recordkeeper:

 
 
------------------------------------------------------------------------
Recordkeeping...............................  6 min.
Learning about the law or the form..........  19 min.
Preparing the form..........................  16 min.
Copying, assembling, and sending the form to  16 min.
 the IRS.
------------------------------------------------------------------------

    Frequency of Response: other (one-time).
    Estimated Total Reporting/Recordkeeping Burden: 10,168 hours.

    OMB Number: 1545-1002.
    Form Number: IRS Form 8621.
    Type of Review: Extension.
    Title: Return by a Shareholder of a Passive Foreign Investment 
Company or Qualified Electing Fund.
    Description: Form 8621 is filed by a U.S. shareholder who owns 
stock in a foreign investment company. The form is used to report 
income, make an election to extend the time for payment of tax, and to 
pay an additional tax and interest amount. The IRS uses Form 8621 to 
determine if these shareholders have correctly reported amounts of 
income, made the election correctly, and have correctly computed the 
additional tax and interest amount.
    Respondents: Business or other for-profit, individuals or 
households.
    Estimated Number of Respondents/Recordkeepers: 2,000.
    Estimated Burden Hours Per Respondent/Recordkeeper:

 
 
------------------------------------------------------------------------
Recordkeeping.........................  13 hr., 37 min.
Learning about the law or the form....  6 hr., 27 min.
Preparing and sending the form to the   6 hr., 57 min.
 IRS.
------------------------------------------------------------------------

    Frequency of Response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 54,100 hours.

    OMB Number: 1545-1029.
    Form Number: IRS Form 8693.
    Type of Review: Revision.
    Title: Low-Income Housing Credit Disposition Bond or Treasury 
Direct Account Application.
    Description: Form 8693 is needed per Internal Revenue Code section 
42(j)(6) to post bond or establish a Treasury Direct Account and waive 
the recapture requirement under section 42(j) for certain dispositions 
of a building on which the low-income housing credit was claimed. 
Internal Revenue regulations section 301.7101-1 requires that the 
posting of a bond must be done on the appropriate form as determined by 
the Internal Revenue Service.
    Respondents: Business or other for-profit, individuals or 
households.
    Estimated Number of Respondents/Recordkeepers: 1,000.
    Estimated Burden Hours Per Respondent/Recordkeeper:

 
 
 
------------------------------------------------------------------------
Recordkeeping...............................  13 min.
Learning about the law or the form..........  22 min.
Preparing, copying, assembling, and sending   45 min.
 the form to the IRS.
------------------------------------------------------------------------

    Frequency of Response: On occasion, other (one-time).
    Estimated Total Reporting/Recordkeeping Burden: 1,350 hours.

    OMB Number: 1545-1657.
    Revenue Procedure Number: Revenue Procedure 99-32.
    Type of Review: Extension.
    Title: Conforming Adjustments Subsequent to Section 482 
Allocations.
    Description: This revenue procedure prescribes the applicable 
procedures for the repatriation of cash by a United States taxpayer via 
an interest-bearing account receivable or payable in an amount 
corresponding to the amount allocated under section 482 from, or to, a 
related person with respect to a controlled transaction.
    Respondents: Business or other for-profit.
    Estimated Number of Respondents: 180.
    Estimated Burden Hours Per Respondent: 9 hours.
    Frequency of Response: On occasion
    Estimated Total Reporting Burden: 1,620 hours.

    Clearance Officer: Glenn Kirkland, Internal Revenue Service, Room 
6411-03, 1111 Constitution Avenue, NW., Washington, DC 20224. (202) 
622-3428.
    OMB Reviewer: Joseph F. Lackey, Jr., Office of Management and 
Budget, Room 10235, New Executive Office Building, Washington, DC 
20503. (202) 395-7316.

Mary A. Able,
Departmental Reports Management Officer.
[FR Doc. 02-27538 Filed 10-29-02; 8:45 am]
BILLING CODE 4830-01-P