[Federal Register Volume 75, Number 15 (Monday, January 25, 2010)]
[Notices]
[Pages 3964-3965]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-1255]


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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

January 19, 2010.
    The Department of Treasury will submit the following public 
information collection requirements to OMB for review and clearance 
under the Paperwork Reduction Act of 1995, Public Law 104-13 on or 
after the date of publication of this notice. A copy of this submission 
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 PRA Clearance 
Officer, Department of the Treasury, 1750 Pennsylvania Avenue, NW., 
Suite 11010, Washington, DC 20220.

DATES: Written comments should be received on or before February 24, 
2010 to be assured of consideration.

Internal Revenue Service (IRS)

    OMB Number: 1545-0212.
    Type of Review: Extension.
    Title: Application for Extension of Time to File Certain Employee 
Plan Returns.
    Form: 5558.
    Description: This form is used by employers to request an extension 
of time to file the employee plan annual information return/report 
(Form 5500 series) or employee plan excise tax return (Form 5330). The 
data supplied on Form 5558 is used to determine if such extension of 
time is warranted.
    Respondents: Businesses or other for-profits.
    Estimated Total Burden Hours: 131,555 hours.

    OMB Number: 1545-1546.
    Type of Review: Extension.
    Title: Revenue Procedure 97-33, EFTPS (Electronic Federal Tax 
Payment System).
    Description: Some taxpayers are required by regulations issued 
under Sec. 6302 (h) of the Internal Revenue Code to make Federal Tax 
Deposits (FTDs) using the Electronic Federal Tax Payment System 
(EFTPS). Other taxpayers may choose to voluntarily participate in 
EFTPS. EFTPS requires that a taxpayer complete an enrollment form to 
provide the information the IRS needs to properly credit the taxpayer's 
account. Revenue 97-33 provides procedures and information that will 
help taxpayers to electronically make FTDs and tax payments through 
EFTPS.
    Respondents: Businesses or other for-profits.
    Estimated Total Burden Hours: 278,622 hours.

    OMB Number: 1545-0052.
    Type of Review: Extension.
    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.
    Form: 990-PF, 4720, 4720 sch I.
    Description: IRC 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 foundation 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.
    Respondents: Not-for-profit institutions.
    Estimated Total Burden Hours: 11,052,594 hours.

    OMB Number: 1545-2020.
    Type of Review: Extension.
    Title: Information Returns Required with Respect to Certain Foreign 
Corporations and Certain Foreign-Owned Domestic Corporations.
    Description: This document contains final and temporary regulations 
that provide guidance under section 6038 and 6038A of the Internal 
Revenue Code. The final regulations under Sec. 1.6038-2 are revised to 
remove and replace obsolete references to a form and IRS offices. The 
temporary regulations clarify the information required to be furnished 
regarding certain related party transactions of certain foreign 
corporations and certain foreign-owned domestic corporations. 
Specifically, in addition to the types of transactions listed in Sec. 
1.6038-2(f)(11) taxpayers are required to report the sales of tangible 
property other than stock in trade on Form 5471.

[[Page 3965]]

    Respondents: Businesses or other for-profits.
    Estimated Total Burden Hours: 1,250 hours.

    OMB Number: 1545-0687.
    Type of Review: Revision.
    Title: Exempt Organization Business Income Tax Return.
    Form: 990-T.
    Description: Form 990-T is needed to compute the section 511 tax on 
unrelated business income of a charitable organization. IRS uses the 
information to enforce the tax.
    Respondents: Not-for-profit institutions.
    Estimated Total Burden Hours: 5,262,319 hours.

    OMB Number: 1545-1696.
    Type of Review: Extension.
    Title: Political Organization Report on Contributions and 
Expenditures.
    Form: 8872.
    Description: Internal Revenue Code section 527(j) requires certain 
political organizations to report certain contributions received and 
expenditures made after July 1, 2000. Every section 527 political 
organization that accepts a contribution or makes an expenditure for an 
exempt function during the calendar year must file Form 8872, except 
for: A political organization that is not required to file Form 8871, 
or a state or local committee of a political party or political 
committee of a state or local candidate.
    Respondents: Not-for-profit institutions.
    Estimated Total Burden Hours: 431,200 hours.

    OMB Number: 1545-1707.
    Type of Review: Extension.
    Title: REG-106511-00 Estate Tax; Form 706, Extension to File (TD 
8957 (final)).
    Description: This collection involves regulations relating to the 
filing of an application for an automatic 6-month extension of time to 
file an estate tax return (Form 706). The regulations provide guidance 
to executors of decedents' estates on how to properly file the 
application for the automatic extension.
    Respondents: Individuals or Households.
    Estimated Total Burden Hours: 1 hour.

    OMB Number: 1545-0123.
    Type of Review: Revision.
    Title: Form 1120, U.S. Corp. Income Tax Return, Schedule D, Capital 
Gains and Losses, Schedule H, Section 280H Limitations for a Personal 
Service Corporation (PSC), Schedule N, Foreign* * *
    Form: Form 1120, Schedule B (Form 1120), Schedule D (Form 1120), 
Schedule G (Form 1120), Schedule H (Form 1120), Schedule L, Schedule M-
1 (Form 1120), Schedule M-2 (Form 1120), Schedule M-3 (Form 1120), 
Schedule N (Form 1120), Schedule O (Form 1120), Schedule PH (Form 
1120).
    Description: Use Form 1120, U.S. Corporation Income Tax Return, to 
report the income, gains, losses, deductions, credits, and to figure 
the income tax liability of a corporation.
    Respondents: Businesses or other for-profits and Farms.
    Estimated Total Burden Hours: 362,808,467 hours.

    Bureau Clearance Officer: R. Joseph Durbala, Internal Revenue 
Service, 1111 Constitution Avenue, NW., Room 6129, Washington, DC 
20224; (202) 622-3634.
    OMB Reviewer: Shagufta Ahmed, Office of Management and Budget, New 
Executive Office Building, Room 10235, Washington, DC 20503; (202) 395-
7873.

Celina Elphage,
Treasury PRA Clearance Officer.
[FR Doc. 2010-1255 Filed 1-22-10; 8:45 am]
BILLING CODE 4830-01-P