97-31163. Submission to OMB for Review; Comment Request

[Federal Register Volume 62, Number 229 (Friday, November 28, 1997)]
[Notices]
[Pages 63419-63420]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-31163]


-----------------------------------------------------------------------

DEPARTMENT OF THE TREASURY


Submission to OMB for Review; Comment Request

November 18, 1997.
    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.

Internal Revenue Service (IRS)

    OMB Number: 1545-1130.

[[Page 63420]]

    Form Number: IRS Form 8816.
    Type of Review: Extension.
    Title: Special Loss Discount Account and Special Estimated Tax 
Payments for Insurance Companies.
    Description: Form 8816 is used by insurance companies claiming an 
additional deduction under IRC section 847 to reconcile their special 
loss discount and special estimated tax payments, and to determine 
their tax benefit associated with the deduction. The information is 
needed by the IRS to determine that the proper additional deduction was 
claimed and to insure the proper amount of special estimated tax was 
computed and deposited.
    Respondents: Business or other for-profit.
    Estimated Number of Respondents/Recordkeepers: 3,000.
    Estimated Burden Hours Per Respondent/Recordkeeper: 3,000.

Recordkeeping..........................  6 hr., 42 min.                 
Learning about the law or the form.....  53 min.                        
Preparing, copying, assembling, and      1 hr., 2 min.                  
 sending the form to the IRS.                                           
                                                                        

    Frequency of Response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 25,890 hours.
    OMB Number: 1545-1151.
    Form Number: IRS Form 8818.
    Type of Review: Extension.
    Title: Optional Form to Record Redemption of Series EE--U.S. 
Savings Bonds Issued After 1989.
    Description: If an individual redeems U.S. Savings Bonds issued 
after 1989 and pays qualified higher education expenses during the 
year, the interest on the bonds is excludable from income. The form can 
be used by the individual to keep a record of the bonds cashed so that 
he or she can claim the proper interest exclusion.
    Respondents: Individuals or households.
    Estimated Number of Respondents/Recordkeepers: 25,000.
    Estimated Burden Hours Per Respondent/Recordkeeper:

Recordkeeping................................  7 min.                   
Learning about the law or the form...........  4 min.                   
Preparing the form...........................  17 min.                  
                                                                        

    Frequency of Response: On occasion.
    Estimated Total Reporting/Recordkeeping Burden: 22,500 hours.
    OMB Number: 1545-1288.
    Form Number: IRS Form 8828.
    Type of Review: Extension.
    Title: Recapture of Federal Mortgage Subsidy.
    Description: Form 8828 is needed to compute the section 143(m) tax 
on recapture of the Federal Subsidy from use of qualified mortgage 
bonds and mortgage credit certificates in cases where the financing is 
provided after 1990 and the home subject to the financing is sold 
during the first 9 years after financing was provided. IRS uses the 
information to determine that the proper amount of Federal subsidy is 
recaptured.
    Respondents: Individuals or households.
    Estimated Number of Respondents/Recordkeepers: 1,000.
    Estimated Burden Hours Per Respondent/Recordkeeper: 4 hours.
    Frequency of Response: Other (for year of sale of home).
    Estimated Total Reporting/Recordkeeping Burden: 1,868 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. 97-31163 Filed 11-26-97; 8:45 am]
BILLING CODE 4830-01-P