[Federal Register Volume 64, Number 24 (Friday, February 5, 1999)]
[Notices]
[Pages 5861-5862]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-2704]
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DEPARTMENT OF THE TREASURY
Submission for OMB Review; Comment Request
January 27, 1999.
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.
DATES: Written comments should be received on or before March 8, 1999
to be assured of consideration.
Internal Revenue Service (IRS)
OMB Number: 1545-0203.
Form Number: IRS Form 5329.
Type of Review: Extension.
Title: Additional Taxes Attributable to IRAs, Other Qualified
Retirement Plans, Annuities, Modified Endowment Contract, and MSAs.
Description: This form is used to compute and collect taxes related
to early distributions from individual retirement arrangements (IRAs)
and other qualified retirement plans; distributions from education (ED)
IRAs not used for educational expenses; excess contributions to
traditional IRAs, ED IRAs, and medical savings accounts (MSAs); and
excess accumulations in qualified retirement plans.
Respondents: Individuals or households.
[[Page 5862]]
Estimated Number of Respondents/Recordkeepers: 1,000,000.
Estimated Burden Hours Per Respondent/Recordkeeper:
Recordkeeping--1 hr., 59 min.
Learning about the law or the form--42 min.
Preparing the form--1 hr., 0 min.
Copying, assembling and sending the form to the IRS--14 min.
Frequency of Response: On occasion.
Estimated Total Reporting/Recordkeeping Burden: 1,042,400 hours.
OMB Number: 1545-1552.
Form Number: IRS Form 8839.
Type of Review: Extension.
Title: Qualified Adoption Expenses.
Description: Section 23 of the Internal Revenue Code allows
taxpayers to claim a nonrefundable tax credit for qualified adoption
expenses paid or incurred by the taxpayer. Code section 137 allows
taxpayers to exclude amounts paid or expenses incurred by an employer
for the qualified adoption expenses of the employee which are paid
under an adoption assistance program. Form 8839 is used to figure the
credit and/or exclusion.
Respondents: Individuals or households.
Estimated Number of Respondents/Recordkeepers: 50,000.
Estimated Burden Hours Per Respondent/Recordkeeper:
Recordkeeping--46 min.
Learning about the law or the form--20 min.
Preparing the form--1 hr., 31 min.
Copying, assembling, and sending the form to the IRS--35 min.
Frequency of Response: Annually.
Estimated Total Reporting/Recordkeeping Burden: 159,500 hours.
Clearance Officer: Garrick Shear, Internal Revenue Service, Room
5571, 1111 Constitution Avenue, NW, Washington, DC 20224.
OMB Reviewer: Alexander T. Hunt (202) 395-7860, Office of
Management and Budget, Room 10202, New Executive Office Building,
Washington, DC 20503.
Lois K. Holland,
Departmental Reports Management Officer.
[FR Doc. 99-2704 Filed 2-4-99; 8:45 am]
BILLING CODE 4830-01-P
