[Federal Register Volume 68, Number 232 (Wednesday, December 3, 2003)]
[Notices]
[Pages 67740-67741]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-30093]


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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

November 25, 2003.
    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 
11000, 1750 Pennsylvania Avenue, NW., Washington, DC 20220.

DATES: Written comments should be received on or before January 2, 2004 
to be assured of consideration.

Internal Revenue Service (IRS)

    OMB Number: 1545-0029.
    Form Number: IRS Forms 941, 941-PR and 941-SS; and Schedule B (941 
and 941-PR).
    Type of Review: Extension.
    Title: Forms 841, 941-PR and 941-SS: Employer's Quarterly Federal 
Tax Return; American Samoa, the Commonwealth of the Northern Mariana 
Islands; U.S. Virgin Islands; Schedule B (Forms 941 and 941-PR): 
Employer's Record of Federal Tax Liability.
    Description: Form 941 is used by employers to report payments made 
to employees subject to income and social security/Medicare faxes and 
the amounts of these taxes. Form 941-PR is used by employers in Puerto 
Rico to report social security and Medicare taxes only. Form 941-SS is 
used by employers in the U.S. possessions to report social security and 
Medicare taxes only. Schedule B is used by employers to record their 
employment tax liability.
    Respondents: Business or other for-profit, Individuals or 
households, Not-for-profit institutions, Federal Government, State, 
Local or Tribal Government.
    Estimated Number of Respondents/Recordkeeping: 5,798,054.
    Estimated Burden Hours Respondent/Recordkeeper:

Form 941

Recordkeeping--12 hr., 39 min.
Learning about the law or the form--40 min.
Preparing the form--1 hr., 49 min.
Copying, assembling, and sending the form to the IRS--16 min.

Form 941 TeleFile

Recordkeeping--5 hr., 30 min.
Learning about the law or the Tax Record--18 min.
Preparing the Tax Record--24 min.
TeleFile phone call--11 min.

Form 941-PR

Recordkeeping--7 hr., 53 min.
Learning about the law or the form--18 min.
Preparing the form--26 min.

Form 941-SS

Recordkeeping--8 hr., 7 min.
Learning about the law or the form--18 min.
Preparing the form--26 min.

Schedule B (Forms 941 and 941-PR)

Recordkeeping--2 hr., 37 min.
Learning about the law or the form--6 min.
Preparing the form--9 min.

    Frequency of Response: Quarterly.
    Estimated Total Reporting/Recordkeeping Burden: 343,652,930 hours.

    OMB Number: 1545-1449.
    Regulation Project Number: IA-57-94 Final.
    Type of Review: Extension.
    Title: Cash Reporting by Court Clerks.
    Description: Section 6050I(g) imposes a reporting requirement on 
criminal court clerks that receive more than $10,000 in cash as bail. 
The IRS will use the information to identify individuals with large 
cash incomes. Clerks must also furnish the information to the United 
States Attorney for the jurisdiction in which the individual charged 
with the crime resides and to each person posting the bond whose name 
appears on Form 8300.
    Respondents: Federal Government, State, Local or Tribal Government.
    Estimated Number of Respondents: 250.
    Estimated Burden Hours Respondent: 30 minutes.
    Frequency of Response: On occasion, annually.
    Estimated Total Reporting Burden: 125 hours.

    OMB Number: 1545-1271.
    Regulation Project Number: REG-209035-86 Final and REG-208165-91 
Final.
    Type of Review: Extension.
    Title: REG-209035-86 Final: Stock Transfer Rules; and REG-208165-91 
Final: Certain Transfers of Stock or Securities by U.S. Persons to 
Foreign Corporations and Related Reporting Requirements.
    Description: A U.S. person must generally file a gain recognition 
agreement with the IRS in order to defer gain on a section 367(a) 
transfer of stock to a foreign corporation, and must file a notice with 
the IRS if it realizes any income in a section 367(b) exchange. These 
requirements ensure compliance with the respective Code sections.
    Respondents: Business or other for-profit.
    Estimated Number of Respondents: 580.
    Estimated Burden Hours Respondent: 4 hours, 7 minutes.
    Frequency of Response: Annually.
    Estimated Total Reporting Burden: 2,390 hours.

    OMB Number: 1545-1691.
    Regulation Project Number: REG-120882-97 Final.
    Type of Review: Extension.
    Title: Continuity of Interest.

[[Page 67741]]

    Description: Taxpayers who entered into a binding agreement on or 
after January 28, 1998 (the effective date of Sec.  1.368-1T), and 
before the effective date of the final regulations under Sec.  1.368-
1(e) may request a private letter ruling permitting them to apply Sec.  
1.368-1(e) to their transaction. A private letter ruling will not be 
issued unless the taxpayer establishes to the satisfaction of the IRD 
that there is not a significant risk of different parties to the 
transaction taking inconsistent positions, for U.S. tax purposes with 
respect to the applicability of Sec.  1.368-1(e) to the transaction.
    Respondents: Business or other for-profit.
    Estimated Number of Respondents: 10.
    Estimated Burden Hours Respondent: 150 hours.
    Frequency of Response: Other (once).
    Estimated Total Reporting Burden: 1,500 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. 03-30093 Filed 12-2-03; 8:45 am]
BILLING CODE 4830-01-P