96-26132. Submission to OMB for Review; comment request

[Federal Register Volume 61, Number 199 (Friday, October 11, 1996)]
[Notices]
[Page 53488]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-26132]


=======================================================================
-----------------------------------------------------------------------

DEPARTMENT OF THE TREASURY


Submission to OMB for Review; comment request

October 1, 1996.
    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, 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: 1545-0058.
    Form Number: IRS Form 1028.
    Type of Review: Extension.
    Title: Application for Recognition of Exemption Under Section 521 
of the Internal Revenue Code.
    Description: Farmers' cooperatives must file Form 1028 to apply for 
exemption from Federal income tax as being organizations described in 
IRC section 521. The information on Form 1028 provides the basis for 
determining whether the applicants are exempt.
    Respondents: Business or other for-profit.
    Estimated Number of Respondents/Recordkeepers: 50.
    Estimated Burden Hours Per Respondent/Recordkeeper:
      Recordkeeping--44 hr., 14 min.
      Learning about the law or the form--1 hr., 38 min.
      Preparing the form--4 hr., 17 min.
      Copy, assembling, and sending the form to the IRS--32 min.
    Frequency of Response: On occasion.
    Estimated Total Reporting/Recordkeeping Burden: 2,535 hours.

    OMB Number: 1545-0235.
    Form Number: IRS Form 730.
    Type of Review: Revision.
    Title: Tax on Wagering.
    Description: Form 730 is used to identify taxable wagers and 
collect the tax monthly. The information is used to determine if 
persons accepting wagers are correctly reporting the amount of wagers 
and paying the required tax.
    Respondents: Business or other for-profit, Individuals or 
households.
    Estimated Number of Respondents/Recordkeepers: 4,150.
    Estimated Burden Hours Per Respondent/Recordkeeper:
      Recordkeeping--3 hr., 35 min.
      Learning about the law or the form--1 hr., 10 min.
      Preparing the form--2 hr., 12 min.
      Copying, assembling and sending the form to the IRS--16 min.
    Frequency of Response: Monthly.
    Estimated Total Reporting/Recordkeeping Burden: 361,000 hours.

    OMB Number: 1545-0939.
    Form Number: IRS Form 8404.
    Type of Review: Extension.
    Title: Interest Charge on DISC-Related Deferred Tax Liability.
    Description: Shareholders of Interest Charge Domestic International 
Sales Corporations (IC-DISCs) use Form 8404 to figure and report an 
interest charge on their DISC-related deferred tax liability. The 
interest charge is required by Internal Revenue Code section 995(f). 
IRS uses Form 8404 to determine whether the shareholder has correctly 
figured and paid the interest charge on a timely basis.
    Respondents: Business or other for-profit, Individuals or 
households.
    Estimated Number of Respondents/Recordkeepers: 2,000.
    Estimated Burden Hours Per Respondent/Recordkeeper:
      Recordkeeping--4 hr., 4 min.
      Learning about the law or the form--2 hr., 29 min.
      Preparing, copying and sending the form to the IRS--2 hr., 40 
min.
    Frequency of Response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 18,420 hours

    OMB Number: 1545-1417.
    Form Number: IRS Form 8845.
    Type of Review: Revision.
    Title: Indian Employment Credit.
    Description: Employers can claim a credit for hiring American 
Indians or their spouses to work within an Indian reservation. The 
credit is figured by multiplying by 20% the increase in wages and 
health insurance costs over the comparable amount paid or incurred 
during calendar year 1996.
    Respondents: Business or other for-profit.
    Estimated Number of Respondents/Recordkeepers: 500.
    Estimated Burden Hours Per Respondent/Recordkeeper:
      Recordkeeping--6 hr., 13 min.
      Learning about the law or the form--1 hr., 41 min.
      Preparing and sending the form to the IRS--1 hr., 52 min.
    Frequency of Response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 4,885 hours.
    Clearance Officer: Garrick Shear [phone], Internal Revenue 
Service, Room 5571, 1111 Constitution Avenue, N.W., 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. 96-26132 Filed 10-10-96; 8:45 am]
BILLING CODE 4830-01-P