[Federal Register Volume 71, Number 104 (Wednesday, May 31, 2006)]
[Notices]
[Pages 30979-30980]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E6-8361]


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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

May 16, 2006.
    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: Dates: Written comments should be received on or before June 30, 
2006 to be assured of consideration.

Internal Revenue Service (IRS)

    OMB Number: 1545-0233.
    Type of Review: Extension.
    Title: Application for Automatic Extension of Time to File 
Corporation Income Tax Return.
    Form: IRS 7004.
    Description: Form 7004 is used by corporations and certain non-
profit institutions to request an automatic 6-month extension of time 
to file their income tax returns. The information is needed by IRS to 
determine whether Form 704 was timely filed so as not to impose a late 
filing penalty in error and also to insure that the proper amount of 
tax was computed and deposited.
    Respondents: Business or other for-profit; Not-for-profit 
institution.
    Estimated Total Burden Hours: 18,508,162 hours.

    OMB Number: 1545-0865.
    Type of Review: Extension.
    Title: Application for Registration of a Tax Shelter.
    Form: Form 8264.
    Description: Organizers of certain tax shelters are required to 
register them with the IRS using Form 8264. Other persons may have to 
register the tax shelter if the organizer doesn't. We use the 
information to give the tax shelter a registration number. Sellers of 
interests in the tax shelter furnish the number to investors who report 
the number on their tax returns.
    Respondents: Individuals or households; Business or other for-
profit.
    Estimated Total Burden Hours: 14,382 hours.

    OMB Number: 1545-1800.
    Type of Review: Extension.
    Title: Reportable Transaction Disclosure Statement.
    Form: Form 8886.
    Description: Regulation section 1.6011-4 requires certain taxpayers 
to disclose reportable transactions in which they directly or 
indirectly participated.
    Respondents: Individuals or household; Business or other for-
profit.
    Estimated Total Burden Hours: 6,180 hours.

    OMB Number: 1545-1099.
    Type of Review: Extension.
    Title: Information Return for Real Estate Mortgage Investment 
Conduits (REMICs) and Issuers of Collateralized Debt Obligations.
    Form: Form 8811.
    Description: Form 8811 is used to collect the name, address, and 
phone number of a representative of a REMIC who can provide brokers 
with the correct income amounts that the broker's clients must report 
on their income tax returns. The form allows the IRS to provide the 
REMIC industry the information necessary to issue correct information 
returns to investors.
    Respondents: Business or other for-profit.
    Estimated Total Burden Hours: 4,380 hours.

    OMB Number: 1545-1251.
    Type of Review: Extension.
    Title: PS-5-91 (Final) Limitations of Percentage Depletion in the 
Case of Oil and Gas Wells.
    Description: Section 1.613A-3(e)(6)(i) of the regulations requires 
each partner to separately keep records of the partner's share of the 
adjusted basis of partnership oil and gas property.
    Respondents: Business or other for-profit.
    Estimated Total Burden Hours: 49,950 hours.

    OMB Number: 1545-1997.
    Type of Review: Extension.
    Title: Relief from Certain Low-Income Housing Requirements Due to 
Hurricane Rita.
    Form: Notice 2006-11.
    Description: The Internal Revenue Service is suspending certain 
income limitations requirements under section 42 of the Internal 
Revenue Code for certain low-income housing credit properties as a 
result of the devastation caused by Hurricane Rita. This relief is 
being granted pursuant to the Service's authority under section 42(n) 
and section 1.42-13 of the Income tax Regulations.
    Respondents: Individuals or households; Business or other for-
profit; State, Local or Tribal Government.
    Estimated Total Burden Hours: 1,250 hours.

    Clearance Officer: Glenn P. Kirkland, Internal Revenue Service, 
Room 6516, 1111 Constitution Avenue, NW., Washington, DC 20224. (202) 
622-3428.
    OMB Reviewer: Alexander T. Hunt, Office of Management and Budget, 
Room 10235, New Executive Office

[[Page 30980]]

Building, Washington, DC 20503. (202) 395-7316.

Robert Dahl,
Treasury PRA Clearance Officer.
[FR Doc. E6-8361 Filed 5-30-06; 8:45 am]
BILLING CODE 4830-01-P