[Federal Register Volume 63, Number 13 (Wednesday, January 21, 1998)]
[Notices]
[Pages 3184-3185]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-1284]
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment Request for Revenue Procedure 98-13
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Notice and request for comments.
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SUMMARY: The Department of the Treasury, as part of its continuing
effort to reduce paperwork and respondent burden, invites the general
public and other Federal agencies to take this opportunity to comment
on proposed and/or continuing information collections, as required by
the Paperwork Reduction Act of 1995, Public Law 104-13 (44 U.S.C.
3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning
Revenue Procedure 98-13, Election to Treat Certain Revocable Trusts as
Part of an Estate.
DATES: Written comments should be received on or before March 23, 1998
to be assured of consideration.
ADDRESSES: Direct all written comments to Garrick R. Shear, Internal
Revenue Service, room 5571, 1111 Constitution Avenue, NW., Washington,
DC 20224.
FOR FURTHER INFORMATION CONTACT: Requests for additional information or
copies of the revenue procedure should be directed to Carol Savage,
(202) 622-3945, Internal Revenue Service, room 5569, 1111 Constitution
Avenue, NW., Washington, DC 20224.
SUPPLEMENTARY INFORMATION:
Title: Election to Treat Certain Revocable Trusts as Part of an
Estate.
OMB Number: 1545-1578.
Revenue Procedure Number: Revenue Procedure 98-13.
Abstract: Revenue Procedure 98-13 describes the procedures and
requirements for making an election to have certain revocable trusts
treated and taxed as part of an estate. The Taxpayer Relief Act of 1997
added section 646 to the Internal Revenue Code to permit the election.
Current Actions: There are no changes being made to the revenue
procedure at this time.
Type of Review: Extension of a currently approved collection.
Affected Public: Individuals or households.
Estimated Number of Respondents: 10,000.
Estimated Time Per Respondent: 30 minutes.
Estimated Total Annual Burden Hours: 5,000.
The following paragraph applies to all of the collections of
information covered by this notice:
An agency may not conduct or sponsor, and a person is not required
to respond to, a collection of information unless the collection of
information displays a valid OMB control number. Books or records
relating to a collection of information must be retained as long as
their contents may become material in the administration of any
internal revenue law. Generally, tax returns and tax return information
are confidential, as required by 26 U.S.C. 6103.
Request for Comments
Comments submitted in response to this notice will be summarized
and/or
[[Page 3185]]
included in the request for OMB approval. All comments will become a
matter of public record. Comments are invited on: (a) Whether the
collection of information is necessary for the proper performance of
the functions of the agency, including whether the information shall
have practical utility; (b) the accuracy of the agency's estimate of
the burden of the collection of information; (c) ways to enhance the
quality, utility, and clarity of the information to be collected; (d)
ways to minimize the burden of the collection of information on
respondents, including through the use of automated collection
techniques or other forms of information technology; and (e) estimates
of capital or start-up costs and costs of operation, maintenance, and
purchase of services to provide information.
Approved: January 13, 1998.
Garrick R. Shear,
IRS Reports Clearance Officer.
[FR Doc. 98-1284 Filed 1-20-98; 8:45 am]
BILLING CODE 4830-01-U
