96-31021. Submission to OMB for Review; Comment Request

[Federal Register Volume 61, Number 236 (Friday, December 6, 1996)]
[Notices]
[Pages 64788-64789]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-31021]


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DEPARTMENT OF THE TREASURY

Submission to OMB for Review; Comment Request

November 22, 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: 1545-1018.
    Regulation Project Numbers: FI-27-89 Final and FI-61-91 Final.
    Type of Review: Extension.
    Title: Real Estate Mortgage Investment Conduits; Reporting 
Requirements and Other Administrative Matters (FI-27-89); and 
Allocation of Allocable Investment Expense; Original Issue Discount 
Reporting Requirements (FI-61-91).
    Description: The regulations prescribe the manner in which an 
entity elects to be taxed as a real estate mortgage investment conduit 
(REMIC) and the filing requirments for REMICs and certain brokers.
    Respondents: Business or other for-profit.
    Estimated Number of Respondents: 655.
    Estimated Burden Hours Per Respondent: 1 hour, 30 minutes.
    Frequency of Response: Annually.
    Estimated Total Reporting Burden: 978 hours.
    OMB Number: 1545-1146.
    Regulation Project Number: PS-54-89 Final.
    Type of Review: Extension.
    Title: Applicable Conventions Under the Accelerated Cost Recovery 
System.
    Description: The regulations describe the time and manner of making 
the notation required to be made on Form 4562 under certain 
circumstances when the taxpayer transfers property in certain non-
recognition transactions. The information is necessary to monitor 
compliance with the section 168 rules.
    Respondents: Business or other for-profit, farms.
    Estimated Number of Respondents: 700.
    Estimated Burden Hours Per Respondent: 6 minutes.
    Frequency of Response: Annually.
    Estimated Total Reporting Burden: 70 hours.
    OMB Number: 1545-1425.
    Regulation Project Number: PS-55-93 Temporary and NPRM.
    Type of Review: Extension.
    Title: Certain Elections for Intangible Property.
    Description: The information is required by the IRS to aid it in 
administering the law and preventing manipulation. The information will 
be used to verify that a taxpayer is properly reporting its 
amortization and income taxes. The likely respondents are businesses or 
other for-profit institutions.
    Respondents: Business or other for-profit.
    Estimated Number of Respondents: 100.
    Estimated Burden Hours Per Respondent: 1 hour.
    Frequency of Response: Other (once, 1993 tax return).
    Estimated Total Reporting Burden: 100 hours.
    OMB Number: 1545-1497.
    Form Number: IRS Form 8837.
    Type of Review: Extension.
    Title: Adoption of Revenue Procedure Model Amendments.
    Description: Form 8837 will act as a transmittal document and will 
be used by sponsors of ``master or prototype'' plans, regional 
prototype plans, and

[[Page 64789]]

volume submitter plans. Revenue Procedures implementing law changes or 
other changes may be issued at any time requiring changes in plan 
documents. These changes or amendments can be submitted to the Service 
using this form.
    Respondents: Business or other for-profit.
    Estimated Number of Respondents/Recordkeepers: 3,000.
    Estimated Burden Hours Per Respondent/Recordkeeper: Recordkeeping--
2 hr., 11 min.; Preparing and sending the form to the IRS--2 min.
    Frequency of Response: On occasion.
    Estimated Total Reporting/Recordkeeping Burden: 7,950 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. 96-31021 Filed 12-5-96; 8:45 am]
BILLING CODE 4830-01-P