Submission for OMB Review; Comment Request

[Federal Register Volume 64, Number 231 (Thursday, December 2, 1999)]
[Notices]
[Pages 67620-67621]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-31286]


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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

November 24, 1999
    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 
2110, 1425 New York Avenue, NW., Washington, DC 20220.

DATES: Written comments should be received on or before January 31, 
2000, to be assured of consideration.

Internal Revenue Service (IRS)

    OMB Number: 1545-1509.
    Form Number: IRS Form 941 TeleFile.
    Type of Review: Extension.
    Title: Employer's Quarterly Federal Tax Return.
    Description: Form 941 TeleFile is used by employers to report by 
phone payments made to employees subject to income and social security 
and Medicare taxes and the amounts of these taxes.
    Respondents: Business or other for-profit, Not-for-profit 
institutions, State, Local or Tribal Government.
    Estimated Number of Respondents/Recordkeepers: 230,000.
    Estimated Burden Hours Per Respondent/Recordkeeper:

.Recordkeeping: 4 hr., 32 min.
Learning about the law or the form: 18 min.
Preparing the Tax Record: 23 min.
TeleFile phone call: 11 min.

    Frequency of Response: Quarterly.
    Estimated Total Reporting/Recordkeeping Burden: 4,968,000 hours.
    OMB Number: 1545-1514.
    Regulation Project Number: REG-209040-88 NPRM.
    Type of Review: Extension.
    Title: Qualified Electing Fund Elections.
    Description: The regulations permit certain shareholders to make a 
special section 1295 election with respect to certain preferred shares 
of a PFIC. Taxpayers must indicate the election on a Form 8621 and 
attach a statement containing certain information and representations. 
Form 8621 must e filed annually. The shareholder also must obtain and 
retain a copy of, a statement from the corporation as to its status as 
a PFIC.

[[Page 67621]]

    Respondents: Individuals or households, Business or other for-
profit.
    Estimated Number of Respondents/Recordkeepers: 1,030.
    Estimated Burden Hours Per Respondent/Recordkeeper: Varies.
    Frequency of Response: On occasion.
    Estimated Total Reporting Burden: 600 hours.
Clearance Officer: Garrick Shear, Internal Revenue Service, Room 5244, 
1111 Constitution Avenue, NW, Washington, DC 20224.
OMB Reviewer: Alexander T. Hunt (202) 395-7860, Office of Management 
and Budget, Room 10202, New Executive Office Building, Washington, DC 
20503.
Lois K. Holland,
Departmental Reports Management Officer.
[FR Doc. 99-31286 Filed 12-1-99; 8:45 am]
BILLING CODE 4830-01-U