94-9139. Public Information Collection Requirements Submitted to OMB for Review

[Federal Register Volume 59, Number 73 (Friday, April 15, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-9139]


[[Page Unknown]]

[Federal Register: April 15, 1994]


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DEPARTMENT OF THE TREASURY

 

Public Information Collection Requirements Submitted to OMB for 
Review

April 8, 1994.
    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 1980, Public Law 96-511. 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

OMB Number: 1545-0887.
Form Number: IRS Form 8281.
Type of Review: Revision.
Title: Information Return for Publicly Offered Original Issue Discount 
Instruments.
Description: Form 8281 is filed by the issuer of a publicly offered 
debt instrument having Original Issue Discount (OID) Instruments.
Respondents: Businesses or other for-profit.
Estimated Number of Respondents/Recordkeepers: 500.
Estimated Burden Hours Per Respondent/Recordkeeper:
    Recordkeeping--5 hrs., 16 min.
    Learning about the law or the form--18 min.
    Preparing, copying, assembling, and sending the form to the IRS--23 
min.
Frequency of Response: On occasion.
Estimated Total Reporting/Recordkeeping Burden: 2,975 hours.

OMB Number: 1545-1254.
Regulation ID Number: FI-34-91 Final.
Type of Review: Extension.
Title: Conclusive Presumption of Worthlessness of Debt Held by Banks.
Description: Paragraph (d)(3) of Sec. 1.166-2 of the regulations allows 
banks and thrifts to elect to conform their tax accounting for bad 
debts with their regulatory accounting. An election, or revocation 
thereof, is a change in method of accounting. The collection of 
information required in Sec. 1.166-2(d)(3) is necessary to monitor the 
elections.
Respondents: Businesses or other for-profit.
Estimated Number of Respondents: 200.
Estimated Burden Hours Per Respondent: 15 minutes.
Frequency of Response: On occasion.
Estimated Total Reporting Burden: 50 hours.

OMB Number: 1545-1260.
Regulation ID Number: CO-62-89 Final.
Type of Review: Extension.
Title: Final Regulations Under Section 382 of the Internal Revenue Code 
of 1986; Limitations on Corporate Net Operating Loss Carryforwards.
Description: The reporting requirement concerns the election a taxpayer 
may make to treat as the change date the effective data of a plan of 
reorganization in a title 11 or similar case rather than the 
confirmation date of a plan.
Respondents: Businesses or other for-profit.
Estimated Number of Respondents: 10.
Estimated Burden Hours Per Respondent: 5 minutes.
Frequency of Response: Other (Once).
Estimated Total Reporting Burden: 1 hour.
Clearance Officer: Garrick Shear [phone], Internal Revenue 
Service, room 5571, 1111 Constitution Avenue, NW., Washington, DC 
20224.
OMB Reviewer: Milo Sunderhauf [phone], Office of Management and 
Budget, room 3001, New Executive Office Building, Washington, DC 20503.
Lois K. Holland,
Departmental Reports Management Officer.
[FR Doc. 94-9139 Filed 4-14-94; 8:45 am]
BILLING CODE: 4830-01-M