[Federal Register Volume 68, Number 6 (Thursday, January 9, 2003)]
[Notices]
[Page 1216]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-366]


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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

January 2, 2003.
    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, 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 February 10, 
2003 to be assured of consideration.

Internal Revenue Service (IRS)

    OMB Number: 1545-0913.
    Regulation Project Number: FI-165-84 NPRM.
    Type of Review: Extension.
    Title: Below-Market Loans.
    Description: Section 7872 recharacterizes a below-market loan as a 
market rate loan and an additional transfer by the lender to the 
borrower equal to the amount of imputed interest. The regulation 
requires both the lender and the borrower to attach a statement to 
their respective income tax returns for years in which they have either 
imputed income or claim imputed deductions under section 7872.
    Respondents: Business or other for-profit, Individuals or 
households.
    Estimated Number of Respondents: 1,631,202.
    Estimated Burden Hours Per Respondent: 18 minutes.
    Frequency of Response: On occasion, Annually.
    Estimated Total Reporting Burden: 481,722 hours.
    OMB Number: 1545-0916.
    Regulation Project Number: EE-96-85 NPRM and EE-63-84 Temporary.
    Type of Review: Extension.
    Title: Effective Dates and Other Issues Arising Under the Employee 
Benefit Provisions of the Tax Reform Act of 1984.
    Description: These temporary regulations provide rules relating to 
effective dates and other issues arising under section 91, 223 and 511-
561 of the Tax Reform Act of 1984.
    Respondents: Business or other for-profit, Individuals or 
households, Not-for-profit institutions.
    Estimated Number of Respondents: 12,800.
    Estimated Burden Hours Per Respondent: 31 minutes.
    Frequency of Response: On occasion.
    Estimated Total Reporting Burden: 6,500 hours.
    OMB Number: 1545-1018.
    Regulation Project Number: FI-27-89 Temporary and Final and FI-61-
91 Final.
    Type of Review: Extension.
    Title: Real Estate Mortgage Investment Conduits; Reporting 
Requirements and Other Administrative Matters (FI-27-89); Allocation of 
Allocable Investment Expense; Original Issue Discount Reporting 
Requirements (FI-61-91).
    Description: The regulations prescribe the manner in which an 
entity elects to be taxed as a real estate mortgage investment conduit 
(REMIC) and the filing requirements for REMICs and certain brokers.
    Respondents: Business or other for-profit.
    Estimated Number of Respondents: 655.
    Estimated Burden Hours Per Respondent: 1 hour, 30 minutes.
    Frequency of Response: Quarterly.
    Estimated Total Reporting Burden: 978 hours.

    OMB Number: 1545-1041.
    Regulation Project Number: PS-102-86 Final.
    Type of Review: Extension.
    Title: Cooperative Housing Corporations.
    Description: This regulation provides an elective alternative to 
the proportionate share rule for allocating interest and taxes to the 
tenant-stockholders of cooperative housing corporations.
    Respondents: Business or other for-profit, Individuals or 
households.
    Estimated Number of Respondents: 2,500.
    Estimated Burden Hours Per Respondent: 15 minutes.
    Frequency of Response: Other (one-time election).
    Estimated Total Reporting Burden: 625 hours.

    OMB Number: 1545-1356.
    Regulation Project Number: REG-248770-96 Final.
    Type of Review: Extension.
    Title: Miscellaneous Sections Affected by the Taxpayer Bill of 
Rights 2 and the Personal Responsibility and Work Opportunity 
Reconciliation Act of 1996.
    Description: The regulations provide guidance with respect to the 
recovery of administrative costs incurred in connection with an 
administrative proceeding before the Internal Revenue Service. 
Procedures that must be followed to recover such costs are set forth.
    Respondents: Individuals or households, Business or other for-
profit, Not-for-profit institutions, Farms, Federal Government.
    Estimated Number of Respondents: 38.
    Estimated Burden Hours Per Respondent: 2 hours, 16 minutes.
    Frequency of Response: On occasion.
    Estimated Total Reporting Burden: 86 hours.

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

Mary A. Able,
Departmental Reports, Management Officer.
[FR Doc. 03-366 Filed 1-8-03; 8:45 am]
BILLING CODE 4830-01-P