97-1570. Submission to OMB for Review; Comment Request

[Federal Register Volume 62, Number 15 (Thursday, January 23, 1997)]
[Notices]
[Pages 3552-3553]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-1570]


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DEPARTMENT OF THE TREASURY

Submission to OMB for Review; Comment Request

January 14, 1997.
    The Department of Treasury has submitted the following public 
information collection requirement(s) to OMB for review and clearance 
under the

[[Page 3553]]

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.

Internal Revenue Service (IRS)

    OMB Number: 1545-0736.
    Regulation Project Number: LR-274-81 Final.
    Type of Review: Extension.
    Title: Accounting for Long-Term Contracts.
    Description: These recordkeeping requirements are necessary to 
determine whether the taxpayer properly allocates indirect contract 
costs to extended period long-term contracts under the regulations. The 
recordkeeping requirement is effective for taxable years beginning 
after 1982. The information will be used to verify the taxpayer's 
allocations of some indirect costs.
    Respondents: Business or other for-profit.
    Estimated Number of Recordkeepers: 1,000.
    Estimated Burden Hours Per Recordkeeper: 10 hours, 1 minute.
    Frequency of Response: Annually.
    Estimated Total Recordkeeping Burden: 10,010 hours.

    OMB Number: 1545-1049.
    Regulation Project Number: IA-7-88 Final, T.D. 8379.
    Type of Review: Extension.
    Title: Excise Tax Relating to Gain or Other Income Realized by Any 
Person on Receipt of Greenmail.
    Description: The final regulations provide rules relating to the 
manner and method of reporting and paying the nondeductible 50 percent 
excise tax imposed by section 5881 of the Internal Revenue Code with 
respect to the receipt of greenmail.
    Respondents: Individuals or households, Business or other for-
profit.
    Estimated Number of Respondents/Recordkeepers: 4.
    Estimated Burden Hours Per Respondent/Recordkeeper: 30 minutes.
    Frequency of Response: On occasion.
    Estimated Total Reporting/Recordkeeping Burden: 2 hours.
    Clearance Officer: Garrick Shear [phone], Internal Revenue 
Service, Room 5571, 1111 Constitution Avenue, NW, Washington, DC 20224.
    OMB Reviewer: Alexander T. Hunt [phone], Office of 
Management and Budget, Room 10226, New Executive Office Building, 
Washington, DC 20503.
 Lois K. Holland,
 Departmental Reports Management Officer.
[FR Doc. 97-1570 Filed 1-22-97; 8:45 am]
BILLING CODE 4830-01-P