[Federal Register Volume 71, Number 151 (Monday, August 7, 2006)]
[Notices]
[Pages 44778-44779]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E6-12693]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Forms 990-PF and 4720

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

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SUMMARY: The Department of the Treasury, as part of its continuing 
effort to reduce paperwork and respondent burden, invites the general 
public and other Federal agencies to take this opportunity to comment 
on proposed and/or continuing information collections, as required by 
the Paperwork Reduction Act of 1995, Public Law 104-13 (44 U.S.C. 
3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning 
Form 990-PF, Return of Private Foundation or Section 4947(a)(1) 
Nonexempt Charitable Trust Treated as a Private Foundation, and Form 
4720, Return of Certain Excise Taxes on Charities and Other Persons 
Under Chapters 41 and 42 of the Internal Revenue Code.

DATES: Written comments should be received on or before October 6, 2006 
to be assured of consideration.

ADDRESSES: Direct all written comments to Glenn P. Kirkland, Internal 
Revenue Service, room 6516, 1111 Constitution Avenue NW., Washington, 
DC 20224.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the forms and instructions should be directed to R. Joseph 
Durbala at Internal Revenue Service, room 6516, (202) 622-3634, 1111 
Constitution Avenue NW., Washington, DC 20224, or through the internet 
at [email protected].

SUPPLEMENTARY INFORMATION:
    Title: Form 990-PF, Return of Private Foundation or Section 
4947(a)(1) Nonexempt Charitable Trust Treated as a Private Foundation, 
and Form 4720, Return of Certain Excise Taxes on Charities and Other 
Persons Under Chapters 41 and 42 of the Internal Revenue Code.
    OMB Number: 1545-0052.
    Form Numbers: 990-PF and 4720.
    Abstract: Internal Revenue Code section 6033 requires all private 
foundations, including section 4947(a)(1) trusts treated as private 
foundations, to file an annual information return. Section 53.4940-1(a) 
of the Income Tax Regulations requires that the tax on net investment 
income be reported on the return filed under section 6033. Form 990-PF 
is used for this purpose. Section 6011 requires a report of taxes under 
Chapter 42 of the Code for prohibited acts by private foundations and 
certain related parties. Form 4720 is used by foundations and/or 
related persons to report prohibited activities in detail and pay the 
tax on them.
    Current Actions: There are no changes being made to the forms at 
this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Non-profit institutions.
    Estimated Number of Respondents: 54,000.
    Estimated Time Per Response: 204 hours, 46 minutes.
    Estimated Total Annual Burden Hours: 11,029,293.
    The following paragraph applies to all of the collections of 
information covered by this notice:
    An agency may not conduct or sponsor, and a person is not required 
to respond to, a collection of information unless the collection of 
information displays a valid OMB control number. Books or records 
relating to a collection

[[Page 44779]]

of information must be retained as long as their contents may become 
material in the administration of any internal revenue law. Generally, 
tax returns and tax return information are confidential, as required by 
26 U.S.C. 6103.
    Request for Comments: Comments submitted in response to this notice 
will be summarized and/or included in the request for OMB approval. All 
comments will become a matter of public record. Comments are invited 
on: (a) Whether the collection of information is necessary for the 
proper performance of the functions of the agency, including whether 
the information shall have practical utility; (b) the accuracy of the 
agency's estimate of the burden of the collection of information; (c) 
ways to enhance the quality, utility, and clarity of the information to 
be collected; (d) ways to minimize the burden of the collection of 
information on respondents, including through the use of automated 
collection techniques or other forms of information technology; and (e) 
estimates of capital or start-up costs and costs of operation, 
maintenance, and purchase of services to provide information.

    Approved: July 17, 2006.
Glenn P. Kirkland,
IRS Reports Clearance Officer.
 [FR Doc. E6-12693 Filed 8-4-06; 8:45 am]
BILLING CODE 4830-01-P