97-31165. Submission to OMB for Review; Comment Request

[Federal Register Volume 62, Number 229 (Friday, November 28, 1997)]
[Notices]
[Pages 63420-63421]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-31165]


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DEPARTMENT OF THE TREASURY


Submission to OMB for Review; Comment Request

November 21, 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

[[Page 63421]]

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: New.
    Form Number: IRS Form 8854.
    Type of Review: New collection.
    Title: Expatriation Information Statement.
    Description: Internal Revenue Code (IRC) section 6039G and Notice 
97-19 provide information reporting requirements for taxpayers who lose 
U.S. citizenship or cease to be taxed as U.S. lawful permanent 
residents. Form 8854 is used to report this information.
    Respondents: Individual or households.
    Estimated Number of Respondents/Recordkeepers: 11,000.
    Estimated Burden Hours Per Respondent/Recordkeeper:

------------------------------------------------------------------------
                                      Part I            Parts I and II  
------------------------------------------------------------------------
Recordkeeping................  33 min..............  4 hr., 16 min.     
Learning about the law or the  9 min...............  26 min.            
 form.                                                                  
Preparing the form...........  37 min..............  3 hr., 46 min.     
Copying, assembling, and       20 min..............  35 min.            
 sending the form to the IRS.                                           
------------------------------------------------------------------------

    Frequency of Response: Other (once).
    Estimated Total Reporting/Recordkeeping Burden: 25,550 hours.
    OMB Number: 1545-1447.
    Regulation Project Number: CO-46-94 Final.
    Type of Review: Extension.
    Title: Losses on Small Business Stock.
    Description: Records are required by the Service to verify that the 
taxpayer is entitled to a section 1244 loss. The records will be used 
to determine whether the stock qualifies as section 1244 stock.
    Respondents: Individual or households, Business or other for-
profit.
    Estimated Number of Recordkeepers: 10,000.
    Estimated Burden Hours Per Recordkeeper: 12 minutes.
    Estimated Total Recordkeeping Burden: 2,000 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. 97-31165 Filed 11-26-97; 8:45 am]
BILLING CODE 4830-01-P