[Federal Register Volume 69, Number 71 (Tuesday, April 13, 2004)]
[Notices]
[Pages 19614-19617]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 04-8261]


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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

April 6, 2004.
    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 13, 2004 to 
be assured of consideration.

Internal Revenue Service (IRS)

    OMB Number: 1545-0056.
    Form Number: IRS Forms 1023 and 872-C.
    Type of Review: Extension.
    Title:
    Form 1023: Application for Recognition of Exemption Under section 
501(c)(3) of the Internal Revenue Code; and
    Form 872-C: Consent Fixing Period of Limitation upon Assessment of 
Tax Under section 4940 of the Internal Revenue Code.
    Description: Form 1023 is filed by applicants seeking Federal 
income tax exemption as organizations described in section 501(c)(3). 
IRS uses the information to determine if the applicant is exempt and 
whether the applicant is a private foundation. Form 872-C extends the 
statute of limitations for assessing tax under section 4940.
    Respondents: Not-for-profit institutions.
    Estimated Number of Respondents/Recordkeepers: 29,409.
    Estimated Burden Hours Respondent/Recordkeeper:

[[Page 19615]]



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                                                                                                                         Preparing and sending the form
                Form                               Recordkeeping                  Learning about the law or the form               to the IRS
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1023 Parts I to IV.................  55 hr., 43 min..........................  5 hr., 00 min..........................  8 hr., 32 min.
1023 Schedule A....................  7 hr., 10 min...........................  00 min.................................  7 min.
1023 Schedule B....................  4 hr., 46 min...........................  30 min.................................  36 min.
1023 Schedule C....................  5 hr., 1 min............................  35 min.................................  42 min.
1023 Schedule D....................  4 hr., 4 min............................  42 min.................................  47 min.
1023 Schedule E....................  9 hr., 19 min...........................  1 hr., 5 min...........................  1 hr., 17 min.
1023 Schedule F....................  2 hr., 37 min...........................  2 hr., 52 min..........................  3 hr., 3 min.
1023 Schedule G....................  2 hr., 37 min...........................  00 min.................................  2 min.
1023 Schedule H....................  1 hr., 54 min...........................  42 min.................................  45 min.
1023 Schedule I....................  3 hr., 35 min...........................  00 min.................................  3 min.
872-C..............................  1 hr., 25 min...........................  24 min.................................  25 min.
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    Frequency of response: On occasion.
    Estimated Total Reporting/Recordkeeping Burden: 2,069,267 hours.

    OMB Number: 1545-0704.
    Form Number: IRS Form 5471 and related Schedules.
    Type of Review: Revision.
    Title: Information Return of U.S. Persons with Respect to Certain 
Foreign Corporations.
    Description: Form 5471 and related schedules are used by U.S. 
persons that have an interest in a foreign corporation. The form is 
used to report income from the foreign corporation. The form and 
schedules are used to satisfy the reporting requirements of sections 
6035, 6038 and 6046 and the regulations thereunder pertaining to the 
involvement of U.S. persons with certain foreign corporations.
    Respondents: Business or other for-profit, Individuals or 
households.
    Estimated Number of Respondents/Recordkeepers: 43,000.
    Estimated Burden Hours Respondent/Recordkeeper:

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                                                                                                                         Preparing and sending the form
                Form                               Recordkeeping                 Learning abouth the law or the form               to the IRS
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5471...............................  82 hr., 45 min..........................  16 hr., 14 min.........................  24 hr., 17 min.
Schedule J (Form 5471).............  3 hr., 49 min...........................  1 hr., 29 min..........................  1 hr., 37 min.
Schedule M (Form 5471).............  26 hr., 33 min..........................  6 min..................................  32 min.
Schedule N (Form 5471).............  8 hr., 22 min...........................  2 hr., 28 min..........................  2 hr., 43 min.
Schedule O (Form 5471).............  10 hr., 45 min..........................  24 min.................................  35 min.
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    Frequency of response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 6,700,035 hours.

    OMB Number: 1545-0720.
    Form Number: IRS Forms 8038, 8038-G, and 8038-GC.
    Type of Review: Revision.
    Title: Form 8038: Information Return for Tax-Exempt Private 
Activity Bond Issues;
    Form 8038-G: Information Return for Tax-Exempt Governmental 
Obligation; and
    Form 8038-GC: Information Return for Small Tax-Exempt Governmental 
Bond Issues, Leases, and Installment Sales
    Description: Forms 8038, 8038-G, and 8038-GC collect the 
information that IRS is required to collect by Code section 149(e). IRS 
uses the information to assure that tax-exempt bonds are issued 
consistent with the rules of Internal Revenue Code (IRC) sections 141-
149.
    Respondents: State, local or tribal government, not-for-profit 
institutions
    Estimated Number of Respondents/Recordkeepers: 3,816.
    Estimated Burden Hours Respondent/Recordkeeper:

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                                                                                                                        Copying, assembling, and sending
                Form                    Learning about the law or the form                Preparing the form                   the form to the IRS
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8038...............................  10 hr., 35 min..........................  12 hr., 27 min.........................  16 min.
8038-G.............................  2 hr., 52 min...........................  3 hr., 15 min..........................  00 min.
8038-GC............................  2 hr., 22 min...........................  2 hr., 34 min..........................  00 min.
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    Frequency of response: Quarterly, Annually, Other (8038-GC at least 
once every 5 years).
    Estimated Total Reporting/Recordkeeping Burden: 293,900 hours.

    OMB Number: 1545-0908.
    Form Number: IRS Forms 8282 and 8283.
    Type of Review: Revision.
    Title: Form 8282: Donee Information Return (Sale, Exchange or Other 
Disposition of Donated Property); and
    Form 8283: Noncash Charitable Contributions.
    Description: Internal Revenue Code section 170(a)(1) and regulation 
section 1.170A-13(c) require donors of property valued over $5,000 to 
file certain information with their tax return in order to receive the 
charitable contribution deduction. Form 8283 is sued to report the 
required information. Code section 6050L requires donee organizations 
to file an information return with the IRS if they dispose of the 
property received within two years. Form 8282 is used for this purpose.
    Respondents: Individuals or households, Business or other for-
profit.
    Estimated Number of Respondents/Recordkeepers: 4,718,000.

[[Page 19616]]

    Estimated Burden Hours Respondent/Recordkeeper:


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Recordkeeping.........................  3 hr., 35 min.
Learning about the law or the form....  12 min.
Preparing and sending the form to the   15 min.
 IRS.
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    Frequency of response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 9,485,220 hours.

    OMB Number: 1545-1603.
    Regulation Project Number: REG-104691-97 Final.
    Type of Review: Extension.
    Title: Electronic Tip Report.
    Description: The regulations provide rules authorizing employers to 
establish electronic systems for use by their tipped employees in 
reporting tips to their employer. The information will be used by 
employers to determine the amount of income tax and FICA tax to 
withhold from the tipped employee's wages.
    Respondents: Business or other for-profit, Individuals or 
households.
    Estimated Number of Respondents/Recordkeepers: 300,000.
    Estimated Burden Hours Respondent/Recordkeeper: 2 hours
    Frequency of response: On occasion.
    Estimated Total Reporting/Recordkeeping Burden: 600,000 hours.

    OMB Number: 1545-1668.
    Form Number: IRS Form 8865 and Schedules.
    Type of Review: Extension.
    Title: Return of U.S. Persons With Respect to Certain Foreign 
Partnerships.
    Description: The Taxpayer Relief Act of 1997 significantly modified 
the information reporting requirements with respect to foreign 
partnerships. The Act made the following three changes: (1) Expanded 
section 6038B to require U.S. persons transferring property to foreign 
partnerships in certain transactions to report those transfers; (2) 
expanded section 6038 to require certain U.S. Partners of controlled 
foreign partnerships to report information about the partnerships; and 
(3) modified the reporting required under section 6046A with respect to 
acquisitions and dispositions of foreign partnership interests. Form 
8865 is used by U.S. persons to fulfill their reporting obligations 
under sections 6038B, 6038, and 6046A.
    Respondents: Business or other for-profit, Individuals or 
households, Not-for-profit institutions.
    Estimated Number of Respondents/Recordkeepers: 5,000.
    Estimated Burden Hours Respondent/Recordkeeper:

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                                                                                                                         Preparing, copying, assembling
                Form                               Recordkeeping                  Learning about the law or the form     and sending the form to the IRS
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8865...............................  98 hr., 55 min..........................  22 hr., 38 min.........................  36 hr., 22 min.
Schedule K-1 (Form 8865)...........  31 hr., 4 min...........................  10 hr., 3 min..........................  18 hr., 10 min.
Schedule O (Form 8865).............  13 hr., 9 min...........................  2 hr., 22 min..........................  2 hr., 42 min.
Schedule P (Form 8865).............  5 hr., 15 min...........................  30 min.................................  36 min.
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    Frequency of response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 458,510 hours.

    OMB Number: 1545-1733.
    Form Number: IRS Form 720-CS.
    Type of Review: Extension.
    Title: Carrier Summary Report.
    Description: Representatives of the motor fuel industry, state 
governments, and the Federal government are working to ensure 
compliance with excise taxes on motor fuels. This joint effort has 
resulted in a system to track the movement of all products to and from 
terminals. Form 720-CS is an information return that will be used by 
carriers to report their monthly deliveries and receipts of products to 
and from terminals.
    Respondents: Business or other for-profit.
    Estimated Number of Respondents/Recordkeepers: 475.
    Estimated Burden Hours Respondent/Recordkeeper:


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Recordkeeping.........................  14 hr., 21 min.
Learning about the law or the form....  30 min.
Preparing and sending the form to the   45 min.
 IRS.
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    Frequency of response: Monthly.
    Estimated Total Reporting/Recordkeeping Burden: 183,027 hours.

    OMB Number: 1545-1734.
    Form Number: IRS Form 720-TO.
    Type of Review: Extension.
    Title: Terminal Operator Report.
    Description: Representatives of the motor fuel industry, state 
governments, and the Federal government are working to ensure 
compliance with excise taxes on motor fuels. This joint effort has 
resulted in a system to track the movement of all products to and from 
terminals. Form 720-TO is an information return that will be used by 
terminal operators to report their monthly receipts and disbursements 
of products.
    Respondents: Business or other for-profit.
    Estimated Number of Respondents/Recordkeepers: 1,500.
    Estimated Burden Hours Respondent/Recordkeeper:


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Recordkeeping.........................  19 hr., 21 min.
Learning about the law or the form....  30 min.
Preparing and sending the form to the   49 min.
 IRS.
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    Frequency of response: Monthly.
    Estimated Total Reporting/Recordkeeping Burden: 2,347,020 hours.

    OMB Number: 1545-1735.
    Revenue Procedure Number: Revenue Procedure 2001-20.
    Type of Review: Extension.
    Title: Voluntary Compliance on Alien Withholding Program 
(``VCAP'').
    Description:The revenue procedure will improve voluntary compliance 
of colleges and universities in connection with their obligations to 
report, withhold and pay taxes due on compensation paid to foreign 
students and scholars (nonresident aliens). The revenue procedure 
provides an optional opportunity for colleges and universities which 
have not fully complied with their tax obligations concerning 
nonresident aliens to self-audit and come into compliance with 
applicable reporting and payment requirements.
    Respondents: Not-for-profit institutions, State, local or tribal 
government.
    Estimated Number of Respondents/Recordkeepers: 495.
    Estimated Burden Hours Respondent/Recordkeeper: 700 hours.
    Frequency of response: On occasion.
    Estimated Total Reporting/Recordkeeping Burden: 346,500 hours.

    OMB Number: 1545-1862.
    Form Number: IRS Form 8316.
    Type of Review: Extension.
    Title: Information Regarding Request for Refund of Social Security 
Tax Erroneously Withheld on Wages Received by a Nonresident alien on an 
F, J, or M Type Visa.

[[Page 19617]]

    Description: Form 8316 is requested from nonresident alien 
taxpayers claiming a refund of Social Security tax erroneously withheld 
on wages received.
    Respondents: Individuals or households.
    Estimated Number of Respondents/Recordkeepers: 22,000.
    Estimated Burden Hours Respondent/Recordkeeper: 15 minutes.
    Frequency of response: On occasion.
    Estimated Total Reporting/Recordkeeping Burden: 5,500 hours.
    Clearance Officer: Glenn P. 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,
Treasury PRA Clearance Officer.
[FR Doc. 04-8261 Filed 4-12-04; 8:45 am]
BILLING CODE 4830-01-P