98-3805. Submission to OMB for Review; Comment Request

[Federal Register Volume 63, Number 31 (Tuesday, February 17, 1998)]
[Notices]
[Page 7851]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-3805]


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DEPARTMENT OF THE TREASURY


Submission to OMB for Review; Comment Request

February 9, 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.

Internal Revenue Service (IRS)

    OMB Number: 1545-0092.
    Form Number: Form 1041 and Related Schedules D, J, and K-1.
    Type of Review: Extension.
    Title: U.S. Income Tax Return for Estates and Trusts, Capital Gains 
and Losses, Accumulation Distribution for a Complex Trust, 
Beneficiary's Share of Income, Deductions, Credits, etc.
    Description: Internal Revenue Code (IRC) section 6012 requires than 
an annual income tax return to be filed for estates and trusts. Data is 
used to determine that the estates, trusts, and beneficiaries filed the 
proper returns and paid the correct tax. IRC section 59 requires the 
fiduciary to recompute the distributable net income on a minimum tax 
basis.
    Respondents: Business or other for-profit, Individuals or 
households.
    Estimated Number of Respondents/Recordkeepers: 3,242,585.
    Estimated Burden Hours Per Respondent/Recordkeeper:

--------------------------------------------------------------------------------------------------------------------------------------------------------
                                             Form 1041                      Schedule D                      Schedule J                 Schedule K-1     
--------------------------------------------------------------------------------------------------------------------------------------------------------
Recordkeeping...................  46 hr., 38 min................  23 hr., 41 min................  39 hr., 28 min...............  8 hr., 51 min.         
Learning about the law or the     18 hr., 54 min................  2 hr., 5 min..................  1 hr., 12 min................  1 hr., 17 min.         
 form.                                                                                                                                                  
Preparing the form..............  35 hr., 23 min................  2 hr., 34 min.................  1 hr., 53 min................  1 hr., 29 min.         
Copying, assembling, and sending  4 hr., 17 min.................                                                                                        
 the form to the IRS.                                                                                                                                   
--------------------------------------------------------------------------------------------------------------------------------------------------------

    Frequency of Response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 345,482,741 hours.

    OMB Number: 1545-0429.
    Form Number: IRS Form 4506.
    Type of Review: Extension.
    Title: Request for Copy of Transcript of Tax Form.
    Description: 26 U.S.C. 7513 allows for taxpayers to request a copy 
of a tax return. Form 4506 is used by taxpayers to request a copy of a 
Federal tax form. The information provided will be used for research to 
locate the tax form and to ensure that the requestor is the taxpayer or 
someone authorized by the taxpayer.
    Respondents: Business or other for-profit.
    Estimated Number of Respondents/Recordkeepers: 914,540.
    Estimated Burden Hours Per Respondent/Recordkeeper:


Recordkeeping............................  13 minutes.                  
Learning about the law or the form.......   7 minutes.                  
Preparing the form.......................  26 minutes.                  
Copying, assembling and sending the form   17 minutes.                  
 to the IRS.                                                            
                                                                        

    Frequency of Response: Other.
    Estimated Total Reporting/Recordkeeping Burden: 969,412 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. 98-3805 Filed 2-13-98; 8:45 am]
BILLING CODE 4830-01-P