[Federal Register Volume 62, Number 61 (Monday, March 31, 1997)]
[Notices]
[Pages 15222-15224]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-8081]
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DEPARTMENT OF THE TREASURY
Submission to OMB for Review; Comment Request
March 24, 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, 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: 1545-0714.
Form Number: IRS Forms 8027 and 8027-T.
Type of Review: Extension.
Title: Employer's Annual Information Return of Tip and Allocated
Tips (8027); and Transmittal of Employer's Annual Information Return of
Tip Income and Allocated Tips (8027-T).
Description: To help IRS in its examinations of returns filed by
tipped employees, large food or beverage establishments are required to
report annually information concerning food or beverage operations
receipts, tips by employees, and in certain cases, the employer must
allocate tips to certain employees.
Respondents: Business and other for-profit, Individuals or
households, Not-for-profit institution, State, Local or Tribal
Governments.
Estimated Number of Respondents/Recordkeepers: 52,050.
Estimated Burden Hours Per Respondent/Recordkeeper:
------------------------------------------------------------------------
8027 8027-T
------------------------------------------------------------------------
Recordkeeping................. 5 hr., 59 min...... 43 min.
Learning about the law or the 42 min............. ...................
form.
Preparing and sending the form 50 min............. 1 min.
to the IRS.
------------------------------------------------------------------------
Frequency of Response: Annually.
Estimated Total Reporting/Recordkeeping Burden: 368,908 hours.
OMB Number: 1545-0817.
Regulation Project Number: EE-28-78 Final.
Type of Review: Extension.
Title: Inspection of Applications for Tax Exemption and
Applications for Determination Letters for Pension and Other Plans.
Description: Internal Revenue Code section 6104 requires
applications for tax exempt status, annual reports of private
foundations, and certain portions of returns to be open for public
inspection. Some information may be withheld from disclosure. IRS needs
the information to comply with requests for public inspection of the
above-named documents.
Respondents: Business or other for-profit, Individuals or
households, Not-for-profit institutions, Federal Government, State,
Local or Tribal Government.
Estimated Number of Respondents: 51,070.
Estimated Burden Hours Per Respondent: 14 minutes.
Frequency of Response: On occasion.
Estimated Total Reporting Burden: 12,018 hours.
[[Page 15223]]
OMB Number: 1545-1227.
Regulation Project Number: FI-104-90 Final.
Type of Review: Extension.
Title: Tax Treatment of Salvage and Reinsurance.
Description: The regulation provides a disclosure requirement for
an insurance company that increases losses shown on its annual
statement by the amount of estimated salvage recoverable taken into
account.
Respondents: Business or other for-profit.
Estimated Number of Respondents: 2,500.
Estimated Burden Hours Per Respondent: 2 hours.
Frequency of Response: Annually.
Estimated Total Reporting Burden: 5,000 hours.
OMB Number: 1545-1240.
Regulation Project Number: INTL-116-90 (NPRM).
Type of Review: Extension.
Title: Allocation of Charitable Contributions.
Description: The recordkeeping requirements affects businesses or
other for-profit institutions. This information is required by the IRS
to ensure the proper application of section 1.861-8(e)(iv) of the
regulations. This information will be used to verify the U.S. source
allocation of certain charitable contributions.
Respondents: Business or other for-profit.
Estimated Number of Recordkeepers: 500.
Estimated Burden Hours Per Recordkeeper: 1 hour.
Frequency of Response: Other.
Estimated Total Recordkeeping Burden: 500 hours.
OMB Number: 1545-1347.
Regulation Project Number: FI-7-94 NPRM, Temporary and Final; FI-
36-92 Final.
Type of Review: Extension.
Title: Arbitrage Restrictions on Tax-Exempt Bonds.
Description: The Code limits the ability of state and local
government issuers of tax-exempt bonds to earn and/or keep arbitrage
profits earned with bond proceeds. This regulation requires
recordkeeping of certain interest rate hedges so that the hedges are
taken into account in determining those profits.
Respondents: State, Local or Tribal Governments.
Estimated Number of Respondents/Recordkeepers: 3,000.
Estimated Burden Hours Per Respondent/Recordkeeper: 14 hours.
Frequency of Response: On occasion.
Estimated Total Reporting/Recordkeeping Burden: 42,000 hours.
OMB Number: 1545-1517.
Form Number: IRS Form 1099-MSA.
Type of Review: Extension.
Title: Distributions From Medical Savings Accounts.
Description: This form will be used to report distributions from a
medical savings account as set forth in section 220(h).
Respondents: Business or other for-profit.
Estimated Number of Respondents: 150,000.
Estimated Burden Hours Per Respondent: 7 minutes.
Frequency of Response: Annually.
Estimated Total Reporting Burden: 45,000 hours.
OMB Number: 1545-1518.
Form Number: IRS Form 5498-MSA.
Type of Review: Extension.
Title: Medical Savings Account Information.
Description: This form will be used to report contributions to a
medical savings account as set forth in section 220(h).
Respondents: Business or other for-profit.
Estimated Number of Respondents: 150,000.
Estimated Burden Hours Per Respondent: 10 minutes.
Frequency of Response: Annually.
Estimated Total Reporting Burden: 60,000 hours.
OMB Number: 1545-1519.
Form Number: IRS Form 1099-LTC.
Type of Review: Extension.
Title: Long-Term Care and Accelerated Death Benefits.
Description: Under the terms of Internal Revenue Code (IRC)
sections 7702B and 101g, qualified long-term care and accelerated death
benefits paid to chronically ill individuals are treated as amounts
received for expenses incurred for medical care. Amounts received on a
per diem basis in excess of $175.00 per day are taxable. Section 6050Q
requires all such amounts to be reported.
Respondents: Business or other for-profit, Individuals or
households, Not-for-profit institutions, State, Local or Tribal
Government.
Estimated Number of Respondents: 1,000.
Estimated Burden Hours Per Respondent: 11 minutes.
Frequency of Response: Annually.
Estimated Total Reporting Burden: 4,750 hours.
OMB Number: 1545-1520.
Revenue Procedure Number: Revenue Procedures 97-4, 97-5, 97-6 and
97-8.
Type of Review: Extension.
Title: Letter Rulings (97-4); Technical Advice (97-5);
Determination Letters (97-6); User Fees (97-8).
Description: The information requested in proposed sections 7.07,
9.02-9.06, 10.02, 10.03, 11.03, 11.04(1)(5), 11.06, 12.01, 12.06,
12.07, 13.09(1), 14.02(1) and the Appendix of proposed Revenue
Procedure 97.4; proposed sections 6.03, 9.01, 9.02, 10.03-10.05, 11.02,
11.03, 12.01, 13.03, 13.10, 15.10, 15.12, 16.04, 18.03-18.05 of
proposed Revenue Procedure 97-5; proposed sections 6.16, 6.18, 7.04,
9.07(4), 10.05, 14, 16, 17, 20.02, and 22.04 of proposed Revenue
Procedure 97-6; and proposed section 6.01(12)(c), 6.12(6)(a), 6.13(1),
and 11 of proposed Revenue Procedure 97-8 is required to enable the
Office of the Assistant Commissioner (Employee Plans and Exempt
Organizations) of the Internal Revenue Service, which was established
by section 1051(a) of the Employee Retirement Income Security Act of
1974 (section 7082(b) of the Internal Revenue Code), to give advice on
filing letter ruling, determination letter, and technical advice
requests and process such requests.
Respondents: Business or other for-profit, Individuals or
households, Not-for-profit institutions, Farms, State, Local or Tribal
Governments.
Estimated Number of Respondents: 83,068.
Estimated Burden Hours Per Respondent: 2 hours, 8 minutes.
Frequency of Response: On occasion.
Estimated Total Reporting Burden: 177,686 hours.
OMB Number: 1545-1522.
Revenue Procedure Number: Revenue Procedures 97-1 and 97-3.
Type of Review: Extension.
Title: 26 CFR 601.201--Rulings and Determination Letters.
Description: The information requested in Revenue Procedure 97-1
under proposed sections 5.05, 6.07, 8.01, 8.02, 8.03, 8.04, 8.05, 8.07,
9.01, 10.06, 10.07, 10.09, 11.01, 11.06, 11.07, 12.11, 13.02, 15.02,
15.07, 15.08, 15.09, and 15.11, paragraph (B)(1) of Appendix A, and
Appendix C, and in Revenue Procedure 97-3 under proposed sections 3.01
(22), (24), (25), (27), and (28), 3.02 (1) and (3), 4.01(26), and 4.02
(1) and (7)(b) is required to enable the Internal Revenue Service to
give advice on filing letter ruling and determination letter requests
and process such requests.
Respondents: Business or other for-profit, Individuals or
households, Farms, Federal Government, State, Local or Tribal
Government.
Estimated Number of Respondents: 3,800.
Estimated Burden Hours Per Respondent: 80 hours, 16 minutes.
Frequency of Response: On occasion.
[[Page 15224]]
Estimated Total Reporting Burden: 304,990 hours.
OMB Number: 1545-1528.
Revenue Procedure Number: Revenue Procedure 97-15.
Type of Review: Extension.
Title: Section 103--Remedial Payment Closing Agreement.
Description: This information is required by the Internal Revenue
Service to verify compliance with sections 57, 103, 141, 142, 144, 145,
and 147 of the Internal Revenue Code of 1986, as applicable (including
any corresponding provision, if any, of the Internal Revenue Code of
1954). This information will be used by the Service to enter into a
closing agreement with the issuer to establish the closing agreement
amount.
Respondents: Not-for-profit institutions.
Estimated Number of Respondents/Recordkeepers: 15.
Estimated Burden Hours Per Respondent/Recordkeeper: 1 hour, 30
minutes.
Frequency of Response: On occasion.
Estimated Total Reporting/Recordkeeping Burden: 75 hours.
Clearance Officer: Garrick Shear (202) 622-3869, 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 10226, New Executive Office Building,
Washington, DC 20503.
Lois K. Holland,
Departmental Reports Management Officer.
[FR Doc. 97-8081 Filed 3-28-97; 8:45 am]
BILLING CODE 4820-01-P
