[Federal Register Volume 60, Number 9 (Friday, January 13, 1995)]
[Notices]
[Pages 3300-3301]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-945]
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DEPARTMENT OF THE TREASURY
Public Information Collection Requirements Submitted to OMB for
Review
January 9, 1995.
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 1980, Public Law 96-511. 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.
Internal Revenue Service (IRS)
OMB Number: 1545-0043
Form Number: IRS Form 972
Type of Review: Extension
Title: Consent of Shareholder to Include Specific Amount in Gross
Income
Description: Form 972 is filed by shareholders of corporations to elect
to include an amount in gross income as a dividend. The IRS uses Form
972 as a check to see if an amended return is filed to include the
amount in income and to determine if the corporation claimed the
correct amount.
Respondents: Individuals or households, Businesses of other for- profit
Estimated Number of Respondents/Recordkeepers: 400
Estimated Burden Hours Per Respondent/Recordkeeper:
Recordkeeping--13 min.
Learning about the law or the form--3 min.
Preparing the form--14 min.
Copying, assembling, and sending the form to the IRS--31 min.
Frequency of Response: Annually
Estimated Total Reporting/Recordkeeping Burden: 408 hours
OMB Number: 1545-0236
Form Number: IRS Form 11-C
Type of Review: Extension
Title: Occupational Tax and Registration Return for Wagering
Description: Form 11-C is used to register persons accepting wagers
(IRC section 4412). IRS uses this form to register the respondent,
collect the annual stamp tax (IRC section 4412), and to verify that the
tax on wagers is report on Form 730.
Respondents: Individuals or households, Businesses or other for- profit
Estimated Number of Respondents/Recordkeepers: 11,500 [[Page 3301]]
Estimated Burden Hours Per Respondent/Recordkeeper:
Recordkeeping--7 hr., 10 min.
Learning about the law or the form--28 min.
Preparing the form--1 hr., 32 min.
Copying, assembling, and sending the form to the IRS--16 min.
Frequency of Response: Annually
Estimated Total Reporting/Recordkeeping Burden: 108,560 hours
OMB Number: 1545-1143
Form Number: IRS Form 706-GS(D-1)
Type of Review: Extension
Title: Notification of Distribution From a Generation-Skipping Trust
Description: Form 706-GS(D-1) is used by trustees to notify the IRS and
distributees of information needed by distributees to compute the
Federal Generation-Skipping Transfer (GST) tax imposed by Internal
Revenue Code (IRC) section 2601. IRS uses the information to enforce
this tax and to verify that the tax has been properly computed.
Respondents: Individuals or households
Estimated Number of Respondents/Recordkeepers: 80,000
Estimated Burden Hours Per Respondent/Recordkeeper:
Recordkeeping--1 hr., 33 min.
Learning about the law or the form--1 hr., 41 min.
Preparing the form--41 min.
Copying, assembling, and sending the form to the IRS--20 min.
Frequency of Response: Annually
Estimated Total Reporting/Recordkeeping Burden: 340,800 hours
OMB Number: 1545-1144
Form Number: IRS Form 706-GS(D)
Type of Review: Extension
Title: Generation-Skipping Transfer Tax Return for Distributions
Description: Form 706-GS(D) is used by the distributees to compute and
report the Federal Generation-Skipping Transfer (GST) tax imposed by
Internal Revenue Code (IRC) section 2601. IRS uses the information to
enforce this tax and to verify that the tax has been properly computed.
Respondents: Individuals or households
Estimated Number of Respondents/Recordkeepers: 1,000
Estimated Burden Hours Per Respondent/Recordkeeper:
Recordkeeping--7 min.
Learning about the law or the form--12 min.
Preparing the form--24 min.
Copying, assembling, and sending the form to the IRS--19 min.
Frequency of Response: Annually
Estimated Total Reporting/Recordkeeping Burden: 1,020 hours
OMB Number: 1545-1145
Form Number: IRS Form 706-GS(T) and Schedules A and B
Type of Review: Extension
Title: Generation-Skipping Transfer Tax Return for Terminations
Description: Form 706-GS(T) is used by trustees to compute and report
the Federal Generation-Skipping Transfer (GST) tax imposed by Internal
Revenue Code (IRC) section 2601. IRS uses the information to enforce
this tax and to verify that the tax has been properly computed.
Respondents: Individuals or households
Estimated Number of Respondents/Recordkeepers: 100
Estimated Burden Hours Per Respondent/Recordkeeper:
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Form 706-
GS(T) Sched. A Sched. B
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Recordkeeping...................................................... 40 min....... 13 min....... 13 min.
Learning about the law or the form................................. 28 min....... 17 min....... 4 min.
Preparing the form................................................. 32 min....... 38 min....... 20 min.
Copying, assembling, and sending the form to the IRS............... 20 min....... 20 min....... 20 min.
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Frequency of Response: Annually
Estimated Total Reporting/Recordkeeping Burden: 689 hours
Clearance Officer: Garrick Shear, (202) 622-3869, Internal Revenue
Service, Room 5571, 1111 Constitution Avenue NW., Washington, DC 20224
OMB Reviewer: Milo Sunderhauf, (202) 395-7340, Office of Management and
Budget, Room 10226, New Executive Office Building, Washington, DC
20503.
Lois K. Holland,
Departmental Reports Management Officer.
[FR Doc. 95-945 Filed 1-12-95; 8:45 am]
BILLING CODE 4830-01-P
