[Federal Register Volume 63, Number 17 (Tuesday, January 27, 1998)]
[Notices]
[Pages 3946-3947]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-1815]
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
[PS-27-91]
Proposed Collection; Comment Request For Regulation Project
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
[[Page 3947]]
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 an existing final regulation, PS-27-91 (TD 8442),
Procedural Rules for Excise Taxes Currently Reportable on Form 720
(Secs. 40.6302(c)-3(b)(2)(ii), 40.6302(c)-3(b)(2)(iii), and 40.6302(c)-
3(e).
DATES: Written comments should be received on or before March 30, 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 information collection should be directed to Carol
Savage, (202) 622-3945, Internal Revenue Service, room 5569, 1111
Constitution Avenue NW., Washington, DC 20224.
SUPPLEMENTARY INFORMATION:
Title: Procedural Rules for Excise Taxes Currently Reportable on
Form 720.
OMB Number: 1545-1296.
Regulation Project Number: PS-27-91.
Abstract: Internal Revenue Code section 6302(c) authorizes the use
of Government depositaries for the receipt of taxes imposed under the
internal revenue laws. These regulations provide reporting and
recordkeeping requirements related to returns, payments, and deposits
of tax for excise taxes currently reportable on Form 720.
Current Actions: There is no change to this existing regulation.
Type of Review: Extension of a currently approved collection.
Affected Public: Business or other for-profit organizations.
Estimated Number of Recordkeepers: 4,000.
Estimated Time Per Recordkeeper: 60 hours.
Estimated Total Annual Recordkeeping Hours: 240,000.
Estimated Number of Respondents: 5,000.
Estimated Time Per Respondents: 22 minutes.
Estimated Total Annual Reporting Hours: 1,850.
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 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 15, 1998.
Garrick R. Shear,
IRS Reports Clearance Officer.
[FR Doc. 98-1815 Filed 1-26-98; 8:45 am]
BILLING CODE 4830-01-U
