[Federal Register Volume 68, Number 80 (Friday, April 25, 2003)]
[Notices]
[Pages 20429-20430]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-10275]


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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

April 15, 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 May 27, 
2003 to be assured of consideration.

Internal Revenue Service

    OMB Number: 1545-0441.
    Form Number: IRS Forms 6559 ad 6559-A.
    Type of Review: Extension.
    Title: Form 6659: Report and Summary of Magnetic Media; and Form 
6559-A: Continuation Sheet for Form 6559.
    Description: Forms 6559 and 6559-A are used by filers of Form W-2 
wage and tax data to transmit filing on magnetic media. SSA and IRS 
need signed and summary data for processing purposes. The forms are 
used primarily by large employers and tax filing services (service 
bureaus).
    Respondents: Business or other for-profit, Not-for-profit 
institutions, Farms, Federal Government, State, Local or Tribal 
Government.
    Estimated Number of Respondents: 90,000.
    Estimated Burden Hours Per Respondent: 18 minutes.
    Frequency of Response: Annually.
    Estimated Total Reporting Burden: 27,000 hours.
    OMB Number: 1545-1240.
    Regulation Project Number: INTL-116-90 NPRM.
    Type of Review: Extension.
    Title: Allocation of Charitable Contributions.
    Description: The recordkeeping requirement affects businesses or 
other for-profit institutions. This information is required by the IRS 
to ensure the proper application of section 1.861-8(e)(iv) of the 
regulations. This information will be used to verify the U.S. source 
allocation of certain charitable contributions.
    Respondents: Business or other for-profit.
    Estimated Number of Recordkeepers: 500.
    Estimated Burden Hours Per Recordkeeper: 1 hour.
    Estimated Total Recordkeeping Burden: 500 hours.
    OMB Number: 1545-1412.
    Regulation Project Number: FI-54-93 Final.
    Type of Review: Extension.
    Title: Clear Reflection of Income in the Case of Hedging 
Transactions.
    Description: This information is required by the Internal Revenue 
Service to verify compliance with section 446 of the Internal Revenue 
Code. This information will be used to determine that the amount of tax 
has been computed correctly.
    Respondents: Business or other for-profit.
    Estimated Number of Recordkeepers: 110,000.

[[Page 20430]]

    Estimated Burden Hours Per Recordkeeper: 12 minutes.
    Estimated Total Recordkeeping Burden: 22,000 hours.
    OMB Number: 1545-1533.
    Revenue Procedure Number: Revenue Procedure 97-22.
    Type of Review: Extension.
    Title: 26 CFR 601.105, Examination of Returns and Claims for 
Refund, Credits, or Abatement, Determination of Correct Tax Liability.
    Description: The information requested in Revenue Procedure 97-22 
under sections 4 and 5 is required to ensure that records maintained in 
an electronic storage system will constitute records within the meaning 
of section 6001.
    Respondents: Business or other for-profit, Individuals or 
households, Not-for-profit institutions, Farms, Federal Government, 
State, Local or Tribal Government.
    Estimated Number of Recordkeepers: 50,000.
    Estimated Burden Hours Per Recordkeeper: 20 hours, 1 minute.
    Estimated Total Recordkeeping Burden: 1,000,400 hours.
    OMB Number: 1545-1540.
    Regulation Project Number: REG-106871-00 NPRM.
    Type of Review: Extension.
    Title: Reporting Requirement for Widely Held Fixed Investment 
Trusts.
    Description: The regulations clarify the reporting requirements of 
trustees and middlemen involved with widely held fixed investment 
trusts.
    Respondents: Business or other for-profit.
    Estimated Number of Respondents: 1,200.
    Estimated Burden Hours Per Respondent: 2 hours.
    Frequency of Response: Quarterly, Annually.
    Estimated Total Reporting Burden: 2,400 hours.
    OMB Number: 1545-1673.
    Revenue Procedure Number: Revenue Procedure 2002-47.
    Type of Review: Extension.
    Title: Employee Plans Compliance Resolution System.
    Description: The information requested in this revenue procedure is 
required to enable the Commissioner, Tax Exempt and Government Entities 
Division of the Internal Revenue Service to make determinations on the 
issuance of various types of closing agreements and compliance 
statements. The issuance of these agreements and statements allows 
individual plans to maintain their tax-qualified status. As a result, 
the favorable tax treatment of the benefits of the eligible employees 
is retained.
    Respondents: Business or other for-profit, Individuals or 
households, Not-for-profit institutions, State, Local or Tribal 
Government.
    Estimated Number of Respondents/Recordkeepers: 4,292.
    Estimated Burden Hours Per Respondent/Recordkeeper: 13 hours, 6 
minutes.
    Frequency of Response: On occasion.
    Estimated Total Reporting/Recordkeeping Burden: 56,272 hours.
    Clearance Officer: Glenn Kirkland, (202) 622-3428, Internal Revenue 
Service, Room 6411-03, 1111 Constitution Avenue, NW., Washington, DC 
20224.
    OMB Reviewer: Joseph F. Lackey, Jr., (202) 395-7316, Office of 
Management and Budget, Room 10235, New Executive Office Building, 
Washington, DC 20503.

Lois K. Holland,
Departmental Reports, Management Officer.
[FR Doc. 03-10275 Filed 4-24-03; 8:45 am]
BILLING CODE 4830-01-P