[Federal Register Volume 63, Number 190 (Thursday, October 1, 1998)]
[Notices]
[Pages 52793-52794]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-26287]
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DEPARTMENT OF THE TREASURY
Submission to OMB for Review; Comment Request
September 24, 1998.
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, Pub. L. 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 November 2,
1998 to be assured of consideration.
Internal Revenue Service (IRS)
OMB Number: 1545-0047.
Form Number: IRS Form 990 and Schedule A (Form 990).
Type of Review: Revision.
Title: Return of Organization Exempt From Income Tax Under Section
501(c) of the Internal Revenue Code (Except Black Lung Benefit Trust or
Private Foundation) or Section 4947(a)(1) Nonexempt Charitable Trust
(Form 990); and Organization Exempt Under Section 501(c)(3) (Except
Private Foundation), and Section 501(e), 501(f), 501(k), 501(n), or
Section 4947(a)(1) Nonexempt Charitable Trust (Schedule A).
Description: Form 990 is needed to determine that Internal Revenue
Code (IRC) section 501(a) tax-exempt organizations fulfill the
operating conditions of the tax exemption. Schedule A (Form 990) is
used to elicit special information from section 501(c)(3)
organizations. IRS uses the information from these forms to determine
if the filers are operating within the rules of their exemption.
Respondents: Not-for-profit institutions.
Estimated Number of Respondents/Recordkeepers: 327,953.
Estimated Burden Hours Per Respondent/Recordkeeper:
----------------------------------------------------------------------------------------------------------------
Copying,
Learning about the assembling, and
Form Recordkeeping law or the form Preparing the form sending the form to
the IRS
----------------------------------------------------------------------------------------------------------------
990............................ 96 hr., 23 min.... 15 hr., 48 min.... 20 hr., 52 min.... 48 min.
Schedule A..................... 50 hr., 13 min.... 9 hr., 26 min..... 10 hr., 40 min.... 0 min.
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Frequency of Response: Annually.
Estimated Total Reporting/Recordkeeping Burden: 52,814,353 hours.
OMB Number: 1545-0051.
Form Number: IRS Form 990-C.
Type of Review: Extension.
Title: Farmers' Cooperative Association Income Tax Return.
Description: Form 990-C is used by farmers' cooperatives to report
the tax imposed by section 1381. IRS uses the information to determine
whether the tax is being properly reported.
Respondents: Business or other for-profit, Farms.
Estimated Number of Respondents/Recordkeeping: 5,600.
Estimated Burden Hours Per Respondent/Recordkeeper:
Recordkeeping--77 hr., 58 min.
Learning about the law or the form--23 hr., 46 min.
Preparing the form--40 hr., 59 min.
Copying, assembling, and sending the form to the IRS--4 hr., 17 min.
Frequency of Response: Annually.
Estimated Total Reporting/Recordkeeping Burden: 823,200 hours.
OMB Number: 1545-0086.
Form Number: IRS Form 1040-C.
Type of Review: Revision.
Title: U.S. Departing Alien Income Tax Return.
Description: Form 1040-C is used by aliens departing the U.S. to
report income received or expected to be received for the entire tax
year. The data collected are used to insure that the departing alien
has no outstanding U.S. tax liability.
Respondents: Individuals or households.
Estimated Number of Respondents/Recordkeepers: 2,000.
Estimated Burden Hours Per Respondent/Recordkeeper:
Recordkeeping--2 hr., 5 min.
Learning about the law or the form--46 min.
Preparing the form--2 hr., 12 min.
Copying, assembling, and sending the form to the IRS--1 hr., 13 min.
Frequency of Response: Annually.
Estimated Total Reporting Burden: 11,312 hours.
OMB Number: 1545-0747.
Form Number: IRS Forms 5498.
Type of Review: Revision.
Title: IRA Contribution Information.
Description: Form 5498 is used by trustees and issuers to report
contributions to the fair market value of an individual retirement
arrangement.
Respondents: Business or other for-profit.
Estimated Number of Respondents/Recordkeepers: 45,300.
Estimated Burden Hours Per Respondent/Recordkeeper: 11 minutes.
Frequency of Response: Annually.
Estimated Total Reporting/Recordkeeping Burden: 13,099,985 hours.
OMB Number: 1545-1010.
Form Number: IRS Form 1120-RIC.
Type of Review: Extension.
Title: U.S. Income Tax Return for Regulated Investment Companies.
Description: Form 1120-RIC is filed by a domestic corporation
electing to be taxed in order to report its income and deductions and
to compute its tax liability. IRS uses Form 1120-RIC to determine
whether the RIC has correctly reported its income, deductions, and tax
liability.
Respondents: Business or other for-profit.
Estimated Number of Respondents/Recordkeepers: 3,277.
Estimated Burden Hours Per Respondent/Recordkeeper:
Recordkeeping--58 hr., 7 min.
Learning about the law or the form--18 hr., 55 min.
Preparing the form--35 hr., 35 min.
Copying, assembling, and sending the form to the IRS--4 hr., 17 min.
Frequency of Response: Annually.
Estimated Total Reporting/Recordkeeping Burden: 383,049 hours.
[[Page 52794]]
OMB Number: 1545-1274.
Form Number: IRS Form 8453-NR.
Type of Review: Extension.
Title: U.S. Nonresident Alien Income Tax Declaration for Magnetic
Media Filing.
Description: This form is used to secure taxpayer signatures and
declarations in conjunction with the Magnetic Media Filing program.
This form, together with the electronic transmission comprises the
taxpayer's income tax return.
Respondents: Individuals or households.
Estimated Number of Respondents/Recordkeeping: 5,000.
Estimated Burden Hours Per Respondent/Recordkeeping: 15 minutes.
Frequency of Response: Annually.
Estimated Total Reporting/Recordkeeping Burden: 1,250 hours.
OMB Number: 1545-1468.
Form Number: IRS Form 1040NR-EZ.
Type of Review: Revision.
Title: U.S. Income Tax Return for Certain Nonresident Aliens With
No Dependents.
Description: This form is used by certain nonresident aliens with
no dependents to report their income subject to tax and compute the
correct tax liability. The information on the return is used to
determine whether income, deductions, credits, payments, etc., are
correctly figured.
Respondents: Individuals or households.
Estimated Number of Respondents/Recordkeepers: 100,000.
Estimated Burden Hours Per Respondent/Recordkeeper:
Recordkeeping--1 hr., 19 min.
Learning about the law or the form--50 min.
Preparing the form--1 hr., 44 min.
Copying, assembling, and sending the form to the IRS--35 min.
Frequency of Response: Annually.
Estimated Total Reporting/Recordkeeping Burden: 445,000 hours.
Clearance Officer: Garrick Shear, (202) 622-3869, Internal Revenue
Service, Room 5571, 1111 Constitution Avenue, NW, Washington, DC 20224.
OMB Reviewer: Alexander T. Hunt, (202) 395-7860, Office of
Management and Budget, Room 10226, New Executive Office Building,
Washington, DC 20503.
Lois K. Holland,
Departmental Reports Management Officer.
[FR Doc. 98-26287 Filed 9-30-98; 8:45 am]
BILLING CODE 4830-01-P
