Submission to OMB for Review; Comment Request

[Federal Register Volume 63, Number 103 (Friday, May 29, 1998)]
[Notices]
[Pages 29472-29473]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-14255]


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DEPARTMENT OF THE TREASURY


Submission to OMB for Review; Comment Request

May 20, 1998.
    The Department of the 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 
2110, 1425 New York Avenue, NW., Washington, DC 20220.

DATES: Written comments should be received on or before June 29, 1998 
to be assured of consideration.

Internal Revenue Service (IRS)

    OMB Number: 1545-0823.
    Regulation Project Number: FI-221-83 NPRM and FI-100-83 Temporary.
    Type of Review: Extension.
    Title: Indian Tribal Governments Treated as States For Certain 
Purposes.
    Description: The regulations provide that if the governing body of 
a tribe, or its subdivision, is not designated as an Indian tribal 
government or subdivision thereof for purpose of sections 7701(a)(40) 
and 7871, it may apply for a ruling from the IRS.
    Respondents: State, Local or Tribal Governments.
    Estimated Number of Respondents: 25.
    Estimated Burden Hours Per Respondent: 1 hour.
    Frequency of Response: Other (once).
    Estimated Total Reporting Burden: 25 hours.

    OMB Number: 1545-1138.
    Regulation Project Number: INTL-955-86 Final, TD 8350.

[[Page 29473]]

    Type of Review: Extension.
    Title: Requirements for Investments to Qualify Under Section 
936(d)(4) as Investments in Qualified Caribbean Basin Countries.
    Description: The collection of information is required by the 
Internal Revenue Service to verify that an investment qualifies under 
Internal Revenue Code (IRC) section 936(d)(4). The recordkeepers will 
be possession corporations, certain financial institutions located in 
Puerto Rico, and borrowers of funds covered by this regulation.
    Respondents: Business or other for-profit.
    Estimated Number of Recordkeepers: 50.
    Estimated Burden Hours Per Recordkeeper: 30 hours.
    Estimated Total Reporting/Recordkeeping Burden: 1,500 hours.

    OMB Number: 1545-1255.
    Regulation Project Number: INTL-870-89 NPRM.
    Type of Review: Extension.
    Title: Earnings Stripping (Section 163(j)).
    Description: Certain taxpayers are allowed to write off the fixed 
basis of the stock of an acquired corporation rather than the adjusted 
basis of the assets of the acquired corporation rather than the 
adjusted basis of the assets of the acquired corporation to elect 
treatment under section 163(j).
    Respondents: Business or other for-profit.
    Estimated Number of Respondents/Recordkeepers: 2,300.
    Estimated Burden Hours Per Respondent/Recordkeeper: 30 minutes.
    Frequency of Response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 1,196 hours.

    OMB Number: 1545-1413.
    Regulation Project Number: IA-30-95 Final.
    Type of Review: Extension.
    Title: Reporting of Nonpayroll Withheld Tax Liabilities.
    Description: These regulations concern the Secretary's authority to 
require a return of tax under section 6011 and provide for the 
requirement of a return by persons deducting and withholding income tax 
from ``Nonpayroll'' payments.
    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: 1.
    Estimated Burden Hours Per Respondent: 1 hour.
    Frequency of Response: Annually.
    Estimated Total Reporting Burden: 1 hour.
    OMB Number: 1545-1433.
    Regulation Project Number: CO-11-91 Final and CO-24-95 Final.
    Type of Review: Extension.
    Title: Consolidated Groups and Controlled Groups--Intercompany 
Transactions and Related Rules (CO-11-91); and Consolidated Groups--
Intercompany Transactions and Related Rules (CO-24-95).
    Description: The regulations require common parents that make 
elections under Section 1.1502-13 to provide certain information. The 
information will be used to identify and assure that the amount, 
location, timing and attributes of intercompany transactions and 
corresponding items are properly maintained.
    Respondents: Business or other for-profit.
    Estimated Number of Respondents/Recordkeepers: 2,200.
    Estimated Burden Hours Per Respondent/Recordkeeper: 29 minutes.
    Frequency of Response: On occasion.
    Estimated Total Reporting/Recordkeeping Burden: 1,050 hours.

    OMB Number: 1545-1443.
    Regulation Project Number: PS-25-94 Final (TD 8686).
    Type of Review: Extension.
    Title: Requirements to Ensure Collection of Section 2050A Estate 
Tax.
    Description: The regulation provides guidance relating to the 
additional requirements necessary to ensure the collection of the 
estate tax imposed under Section 2056A(b) with respect to taxable 
events involving qualified domestic trusts (QDOT'S). In order to ensure 
collection of the tax, the regulation provides various security options 
that may be selected by the trust and the requirements associated with 
each option. In addition, under certain circumstances the trust is 
required to file an annual statement with the IRS disclosing the assets 
held by the trust.
    Respondents: Individuals or households.
    Estimated Number of Respondents: 4,390.
    Estimated Burden Hours Per Respondent: 1 hour, 23 minutes.
    Frequency of Response: Annually.
    Estimated Total Reporting Burden: 6,070 hours.

    OMB Number: 1545-1461.
    Regulation Project Number: INTL-24-94 Final.
    Type of Review: Extension.
    Title: Taxpayer Identifying Numbers (TINs).
    Description: This regulation relates to requirements for furnishing 
a taxpayer identifying number on returns, statements, or other 
documents. Procedures are provided for requesting a taxpayer 
identifying number for certain alien individuals for whom a social 
security number is not available. The regulation also requires foreign 
persons to furnish a taxpayer identifying number on their tax returns.
    Respondents: Individuals or households.
    Estimated Number of Respondents/Recordkeepers: 1.
    Estimated Burden Hours Per Respondent/Recordkeeper: 1 hour.
    Frequency of Response: On occasion.
    Estimated Total Reporting Burden: 1 hour.
    Clearance Officer: Garrick Shear (202) 622-3869, Internal Revenue 
Service, Room 5571, 1111 Constitution Avenue, NW, Washington, DC 20224.
    OMB Reviewer: Alexander T. Hunt (202) 395-7860, Office of 
Management and Budget, Room 10226, New Executive Office Building, 
Washington, DC 20503.
Lois K. Holland,
Departmental Reports Management Officer.
[FR Doc. 98-14255 Filed 5-28-98; 8:45 am]
BILLING CODE 4830-01-P