[Federal Register Volume 69, Number 154 (Wednesday, August 11, 2004)]
[Notices]
[Pages 48910-48911]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 04-18305]


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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

August 4, 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, 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 September 10, 
2004, to be assured of consideration.

Internal Revenue Service (IRS)

    OMB Number: 1545-0023.
    Form Number: IRS Form 720.
    Type of Review: Extension.
    Title: Quarterly Federal Excise Tax Return.
    Description: The information supplied on Form 720 is used by the 
IRS to determine the correct tax liability. Additionally, the data is 
reported by the IRS to Treasury so that funds may be transferred from 
the general revenue funds to the appropriate trust funds.
    Respondents: Business or other for-profit, individuals or 
households, not-for-profit institutions, farms, Federal government, 
State, local or tribal government.
    Estimated Number of Respondents/Recordkeepers: 50,000.
    Estimated Burden Hours Respondent/Recordkeeper:

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                                                                 Learning about the law   Preparing and sending
                 Form                       Recordkeeping             or the form          the form to the IRS
----------------------------------------------------------------------------------------------------------------
720..................................  25 hr., 6 min..........  2 hr., 17 min..........  6 hr., 23 min.
720-V................................  1 hr., 11 min..........  .......................  1 min.
Schedule A...........................  1 hr., 54 min..........  .......................  1 min.
Schedule C...........................  23 hr., 55 min.........  30 min.................  54 min.
720X.................................  6 hr., 13 min..........  18 min.................  24 min.
6197.................................  4 hr., 18 min..........  12 min.................  16 min.
6627.................................  5 hr., 1 min...........  6 min..................  10 min.
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    Frequency of response: Quarterly.
    Estimated Total Reporting/Recordkeeping Burden: 3,893,888 hours.

    OMB Number: 1545-0203.
    Form Number: IRS Form 5329.
    Type of Review: Revision.
    Title: Additional Tax on Qualified Plans (Including IRAs) and Other 
Tax-Favored Accounts.
    Description: This form is used to compute and collect taxes related 
to early distributions from individual retirement arrangements (IRAs) 
and other qualified retirement plans; distributions from education 
accounts not used for educational expenses; excess contributions to 
traditional IRAs, education accounts, Archer MSAs, health savings 
accounts; and excess accumulations in qualified retirement plans.
    Respondents: Individuals or households.
    Estimated Number of Respondents/Recordkeepers: 1,100,000.
    Estimated Burden Hours Respondent/Recordkeeper:

------------------------------------------------------------------------
 
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Recordkeeping.............................  2 hr., 2 min.
Learning about the law or the form........  32 min.
Preparing the form........................  2 hr., 17 min.
Copying, assembling, and sending the form   13 min.
 to the IRS.
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    Frequency of response: On occasion.
    Estimated Total Reporting/Recordkeeping Burden: 1,028,370 hours.

    OMB Number: 1545-1304.
    Regulation Project Numbers: INTL-941-86; INTL-656-87; and INTL-704-
87 NPRM.
    Type of Review: Extension.
    Title: Treatment of Shareholders of Certain Passive Foreign 
Investment Companies.
    Description: The reporting requirements affect U.S. persons that 
are direct and indirect shareholders of passive foreign investment 
companies (PFICs). The IRS uses Form 8621 to identify PFICs, U.S. 
persons that are shareholders, and transactions subject to PFIC 
taxation and verify income inclusions, excess distributions and 
deferred tax amounts.
    Respondents: Business of other for-profit, individuals or 
households.
    Estimated Number of Respondents: 2,500.
    Estimated Burden Hours Respondent: 1 hour.
    Frequency of response: Annually.
    Estimated Total Reporting Burden: 2,500 hours.

    OMB Number: 1545-1468.
    Form Number: IRS Form 1040NR-EZ.
    Type of Review: Extension.
    Title: U.S. Income Tax Return for Certain Nonresident Aliens with 
No Dependents.
    Description: This form is used by certain nonresident aliens with 
no dependents to report their income

[[Page 48911]]

subject to tax and compute the correct tax liability. The information 
on the return is used to determine whether income, deductions, credits, 
payments, etc., are correctly figured.
    Respondents: Individuals or households.
    Estimated Number of Respondents/Recordkeepers: 100,000.
    Estimated Burden Hours Respondent/Recordkeeper:

------------------------------------------------------------------------
 
------------------------------------------------------------------------
Recordkeeping.............................  1 hr., 18 min.
Learning about the law or the form........  49 min.
Preparing the form........................  1 hr., 52 min.
Copying, assembling, and sending the form   34 min.
 to the IRS.
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    Frequency of response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 459,000 hours.

    OMB Number: 1545-1552.
    Form Number: IRS Form 8839.
    Type of Review: Extension.
    Title: Qualified Adoption Expenses.
    Description: Section 23 of the Internal Revenue Code allows 
taxpayers to claim a nonrefundable tax credit for qualified adoption 
expenses paid or incurred by the taxpayer. Code section 137 allows 
taxpayers to exclude amounts paid or expenses incurred by an employer 
for the qualified adoption expenses of the employee which are paid 
under an adoption assistance program. Form 8839 is used to figure the 
credit and/or exclusion.
    Respondents: Individuals or households.
    Estimated Number of Respondents/Recordkeepers: 22,271.
    Estimated Burden Hours Respondent/Recordkeeper:

------------------------------------------------------------------------
 
------------------------------------------------------------------------
Recordkeeping.............................  39 min.
Learning about the law or the form........  17 min.
Preparing the form........................  2 hr., 25 min.
Copying, assembling, and sending the form   34 min.
 to the IRS.
------------------------------------------------------------------------

    Frequency of response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 101,042 hours.

    OMB Number: 1545-1621.
    Form Number: IRS Forms W-8BEN, W-8ECI, W-8EXP and W-8IMY.
    Type of Review: Extension.
    Title: W-8BEN: Certificate of Foreign Status of Beneficial Owner 
for United States Tax Withholding; W-8ECI: Certificate of Foreign 
Person's Claim for Exemption from Withholding on Income Effectively 
Connected with the Conduct of a Trade or Business in the United States; 
W-8EXP: Certificate of Foreign Government or Other Foreign Organization 
for United States Tax Withholding; and W-8IMY: Certificate of Foreign 
Intermediary, Foreign Flow-Through Entity, or Certain U.S. Branches for 
United States Tax Withholding
    Description: Form W-8BEN is used for certain types of income to 
establish that the person, is the beneficial owner of the income for 
which Form W-8BEN is being provided and, if applicable, to claim a 
reduced rate of, or exemption from, withholding as a resident of a 
foreign country with which the United States has an income tax treaty. 
Form W-8ECI is used to establish that the person is a foreign person, 
is the beneficial owner of the income for which Form W-8ECI is being 
provided, and to claim that the income is effectively connected with 
the conduct of a trade or business within the United States. Form W-
8EXP is used by a foreign government, international organization, 
foreign central bank of issue, foreign tax-exempt organization, or 
foreign private foundation. The form is used by such persons to 
establish foreign status, to claim that the person is the beneficial 
owner of the income for which Form W-8EXP is given and, if applicable, 
to claim a reduced rate of, or exemption from, withholding. Form W-8IMY 
is provided to a withholding agent or payer by a foreign intermediary, 
foreign partnership, and certain U.S. branches to make representations 
regarding the status of beneficial owners or to transmit appropriate 
documentation to the withholding agent.
    Respondents: Business or other for-profit, individuals or 
households, not-for-profit institutions.
    Estimated Number of Respondents/Recordkeepers: 3,180,640.
    Estimated Burden Hours Respondent/Recordkeeper:

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                                                                 Learning about the law   Preparing and sending
                 Form                       Recordkeeping             or the form          the form to the IRS
----------------------------------------------------------------------------------------------------------------
W-8BEN...............................  5 hr., 58 min..........  3 hr., 46 min..........  4 hr., 2 min.
W-8ECI...............................  3 hr., 35 min..........  3 hr., 22 min..........  3 hr., 35 min.
W-8EXP...............................  7 hr., 10 min..........  5 hr., 28 min..........  5 hr., 49 min.
W-8IMY...............................  5 hr., 58 min..........  4 hr., 38 min..........  6 hr., 8 min.
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    Frequency of response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 43,280,135 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. 04-18305 Filed 8-10-04; 8:45 am]
BILLING CODE 4830-01-P