[Federal Register Volume 68, Number 227 (Tuesday, November 25, 2003)]
[Notices]
[Pages 66158-66159]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-29397]


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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

November 18, 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, 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 
11000, 1750 Pennsylvania Avenue NW., Washington, DC 20220.

DATES: Written comments should be received on or before December 26, 
2003 to be assured of consideration.

Internal Revenue Service (IRS)

    OMB Number: 1545-0390.
    Form Number: IRS Form 5306.
    Type of Review: Extension.
    Title: Application for Approval of Prototype or Employer Sponsored 
Individual Retirement Account.
    Description: This application is used by employers who want to 
establish an individual retirement account trust to be used by their 
employees. The application is also used by persons who want to 
establish approved prototype individual retirement accounts or 
annuities. The data collected is used to determine if plans may be 
approved.
    Respondents: Business or other for-profit.
    Estimated Number of Respondents/Recordkeeping: 600.
    Estimated Burden Hours Respondent/Recordkeeper:

Recordkeeping--11 hr., 43 min.
Learning about the law or the form--35 min.
Preparing and sending the form to the IRS--49 min.

    Frequency of Response: On occasion.
    Estimated Total Reporting/Recordkeeping Burden: 7,878 hours.

    OMB Number: 1545-0790.
    Form Number: IRS Form 8082.
    Type of Review: Extension.
    Title: Notice of Inconsistent Treatment or Administrative 
Adjustment Request (AAR).
    Description: Internal Revenue code (IRC) sections 6222 and 6227 
require partners to notify IRS by filing Form 8082 when they (1) treat 
partnership items inconsistent with the partnership's treatment (6222), 
and (2) change previously reported partnership items (6227). Sections 
6224 and 860F extend this requirement to shareholders of S corporations 
and residuals of REMICs. Also, section 6241 and 6034A(c) extend this 
requirement to partners in electing large partnerships and 
beneficiaries of estates and trusts.
    Respondents: Business or other for-profit, Individuals or 
households.
    Estimated Number of Respondents/Recordkeepers: 10,700.
    Estimated Burden Hours Respondent/Recordkeeper:

Recordkeeping--4 hr., 18 min.
Learning about the law or the form--1 hr., 23 min.
Preparing and sending the form to the IRS--1 hr., 31 min.

    Frequency of Response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 76,557 hours.

    OMB Number: 1545-1034.
    Form Number: IRS Form 8582-CR.
    Type of Review: Extension.
    Title: Passive Activity Credit Limitations.
    Description: Under section 469, credits from passive activities, to 
the extent they do not exceed the tax attributable to net passive 
income, are not allowed. Form 8582-CR is used to figure the passive 
activity credit allowed and the amount of credit to be reported on the 
tax return.
    Respondents: Individuals or households, Business or other for-
profit.
    Estimated Number of Respondents/Recordkeepers: 900,000.

    Estimated Burden Hours Respondent/Recordkeeper:
Recordkeeping--2 hr., 4 min.
Learning about the law or the form--8 hr., 7 min.
Preparing the form--4 hr., 38 min.
Copying, assembling, and sending the form to the IRS--1 hr., 9 min.

    Frequency of Response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 7,152,300 hours.

    OMB Number: 1545-1096.
    Form Number: IRS Form 9117.

[[Page 66159]]

    Type of Review: Extension.
    Title: Excise Tax Program Order Blank for Forms and Publications.
    Description: Form 9117 allows taxpayers who must file Form 720 
returns a systemic way to order additional tax forms and informational 
publications.
    Respondents: Business or other for-profit.
    Estimated Number of Respondents: 15,000.
    Estimated Burden Hours Respondent: 2 minutes.
    Frequency of Response: Annually.
    Estimated Total Reporting Burden: 500 hours.

    OMB Number: 1545-1143.
    Form Number: IRS Form 706-GS(D-1).
    Type of Review: Extension.
    Title: Notification of Distribution from a Generation-Skipping 
Trust.
    Description: Form 706-GS(D-1) is used by trustees to notify the IRS 
and distributees of information needed by distributees to compute the 
Federal GST tax imposed by Internal Revenue Code (IRC) section 2601. 
IRS uses the information to enforce this tax and to verify that the tax 
has been properly computed.
    Respondents: Individuals or households.
    Estimated Number of Respondents/Recordkeepers: 80,000.
    Estimated Burden Hours Respondent/Recordkeepers:

Recordkeeping--1 hr., 33 min.
Learning about the law or the form--1 hr., 46 min.
Preparing the form--42 min.
Copying, assembling, and sending the form to the IRS--20 min.

    Frequency of Response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 348,800 hours.

    OMB Number: 1545-1144.
    Form Number: IRS Form 706-GS(D).
    Type of Review: Extension.
    Title: Generation-Skipping Transfer Tax Return for Distributions.
    Description: Form 706-GS(D) is used by the distributees to compute 
and report the Federal GST tax imposed by Internal Revenue Code (IRC) 
section 2601. IRS uses the information to enforce this tax and to 
verify that the tax has been properly computed.
    Respondents: Individuals or households.
    Estimated Number of Respondents/Recordkeepers: 1,000.
    Estimated Burden Hours Respondent/Recordkeeper:

Recordkeeping--6 min.
Learning about the law or the form--13 min.
Preparing the form--24 min.
Copying, assembling, and sending the form to the IRS--20 min.

    Frequency of Response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 1,080 hours.

    OMB Number: 1545-1440.
    Regulation Project Number: INTL-64-93 Final.
    Type of Review: Extension.
    Title: Conduit Arrangements Regulations.
    Description: This document contains regulations relating to when 
the district director may recharacterize a financing arrangement as a 
conduit arrangement. Such recharacterization will affect the amount of 
withholding tax due on financing transactions that are part of the 
financing arrangement. These regulations will affect withholding agents 
and foreign investors.
    Respondents: Business or other for-profit.
    Estimated Number of Recordkeepers: 1,000.
    Estimated Burden Hours Respondent: 10 hours.
    Estimated Total Recordkeeping Burden: 10,000 hours.

    OMB Number: 1545-1447.
    Regulation Project Number: CO-46-94 Final.
    Type of Review: Extension.
    Title: Losses on Small Business Stock.
    Description: Records are required by the Service to verify that the 
taxpayer is entitled to a section 1244 loss. The records will be used 
to determine whether the stock qualifies as section 1244 stock.
    Respondents: Business or other for-profit, Individuals or 
households.
    Estimated Number of Recordkeepers: 10,000.
    Estimated Burden Hours Recordkeeper: 12 minutes.
    Estimated Total Recordkeeping Burden: 2,000 hours.

    OMB Number: 1545-1550.
    Notice Number: Notice 97-45.
    Type of Review: Extension.
    Title: Highly Compensated Employee Definition.
    Description: This notice provides guidance on the definition of a 
highly compensated employee within the meaning of section 414(q) of the 
Internal Revenue Code as simplified by section 1431 of the Small 
Business Job Protection Act of 1996, including an employer's option to 
make a top-paid group election under section 414(q)(1)(B)(ii).
    Respondents: Business or other for-profit, Not-for-profit 
institutions.
    Estimated Number of Recordkeepers: 218,683.
    Estimated Burden Hours Recordkeeper: 18 minutes.
    Estimated Total Recordkeeping Burden: 65,605 hours.

    OMB Number: 1545-1551.
    Revenue Procedure Numbers: Revenue Procedure 97-36, Revenue 
Procedure 97-38, Revenue Procedure 897-39, and Revenue Procedure 2002-
9.
    Type of Review: Extension.
    Title: Changes in Methods of Accounting.
    Description: The information collected in the four revenue 
procedures is required in order for the Commission to determine whether 
the taxpayer properly is requesting to change its method of accounting 
and the terms and conditions of the change.
    Respondents: Business or other for-profit, Individuals or 
households, Not-for-profit institutions, Farms.
    Estimated Number of Respondents/Recordkeepers: 23,545.
    Estimated Burden Hours Respondent/Recordkeeper: 9 hours, 27 
minutes.
    Frequency of Response: On occasion, Annually.
    Estimated Total Reporting/Recordkeeping Burden: 222,454 hours.

    Clearance Officer: R. Joseph Durbala, (202) 622-3634. Internal 
Revenue Service, Room 6411, 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,
Treasury PRA Clearance Officer.
[FR Doc. 03-29397 Filed 11-24-03; 8:45 am]
BILLING CODE 4830-01-P