Submission to OMB for Review; Comment Request

[Federal Register Volume 63, Number 103 (Friday, May 29, 1998)]
[Notices]
[Pages 29473-29474]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-14256]


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DEPARTMENT OF THE TREASURY


Submission to OMB for Review; Comment Request

May 22, 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: 1545-0055.
    Form Number: IRS Form 1001.
    Type of Review: Extension.
    Title: Ownership, Exemption, or Reduced Rate Certificate.
    Description: This form is used by owners of certain types of income 
to report to a withholding agent, both the ownership and any reduced or 
exempt tax rate under tax conventions or

[[Page 29474]]

treaties, and if appropriate, to claim a release of tax withheld at 
source. The withholding agent uses the information to determine the 
appropriate withholding.
    Respondents: Individuals or households. Business or other for-
profit.
    Estimated Number of Respondents/Recordkeepers: 100,000.
    Estimated Burden Hours Per Respondent/Recordkeeper:

Recordkeeping--4 hr., 32 min.
Learning about the law or the form--1 hr., 5 min.
Preparing and sending the form to the IRS--1 hr., 13 min.

    Frequency of Response: On occasion.
    Estimated Total Reporting/Recordkeeping Burden: 684,000 hours.

    OMB Number: 1545-0144.
    Form Number: IRS Form 2438.
    Type of Review: Extension.
    Title: Undistributed Capital Gains Tax Return.
    Description: Form 2438 is used by regulated investment companies to 
figure capital gains tax on undistributed capital gains designated 
under Internal Revenue Code (IRC) section 852(b)3(D). IRS uses this 
information to determine the correct tax.
    Respondents: Business or other for-profit.
    Estimated Number of Respondents/Recordkeepers: 100.
    Estimated Burden Hours Per Respondent/Recordkeeper:

Recordkeeping--7 hr., 39 min.
Learning about the law or the form--35 min.
Preparing and sending the form to the IRS--45 min.

    Frequency of Response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 899 hours.
    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. 98-14256 Filed 5-28-98; 8:45 am]
BILLING CODE 4830-01-P