[Federal Register Volume 62, Number 66 (Monday, April 7, 1997)]
[Notices]
[Page 16643]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-8731]
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DEPARTMENT OF THE TREASURY
Submission to OMB for Review; Comment Request
March 31, 1997.
The Department of the 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: 1545-0166.
Form Number: IRS Form 4255.
Type of Review: Revision.
Title: Recapture of Investment Credit.
Description: Internal Revenue Code (IRC) section 50(a) and Regs.
section 1.47 require that taxpayers attach a statement to their return
showing the computation of the recapture tax when investment credit
property is disposed of before the end of the recapture period used in
the original computation investment credit.
Respondents: Business and other for-profit, Individuals or
households, Farms.
Estimated Number of Respondents/Recordkeepers: 20,000.
Estimated Burden Hours Per Respondent/Recordkeeper:
Recordkeeping--6 hr., 28 min.
Learning about the law or the form--1 hr., 23 min.
Preparing, copying, assembling, and sending the form to the IRS--1
hr., 33 min.
Frequency of Response: On occasion.
Estimated Total Reporting/Recordkeeping Burden: 188,000 hours.
OMB Number: 1545-0177.
Form Number: IRS Form 4784.
Type of Review: Extension.
Title: Casualties and Thefts.
Description: Form 4784 is used by all taxpayers to compute their
gain or loss from casualties or thefts, and to summarize such gains and
losses. The data is used to verify that the correct gain or loss has
been computed.
Respondents: Individuals or households.
Estimated Number of Respondents/Recordkeepers: 300,000.
Estimated Burden Hours Per Respondent/Respondent:
Recordkeeping--1 hr., 12 min.
Learning about the law or the form--13 min.
Preparing the form--1 hr., 2 min.
Copying, assembling, and sending the form to the IRS--35 min.
Frequency of Response: Annually.
Estimated Total Reporting/Recordkeeping Burden: 906,000 hours.
OMB Number: 1545-0233.
Form Number: IRS Form 7004.
Type of Review: Extension.
Title: Application for Automatic Extension of Time to File
Corporation Income Tax Return.
Description: Form 7004 is used by corporations and certain non-
profit institutions to request an automatic 6-month extension of time
to file their income tax returns. The information is needed to
determine whether Form 7004 was timely filed so as not to impose a late
filing penalty in error and also to insure that the proper amount of
tax was computed and deposited.
Respondents: Business or other for-profit, Not-for-profit
institutions.
Estimated Number of Respondents/Recordkeepers: 1,097,748.
Estimated Burden Hours Per Respondent/Recordkeeper:
Recordkeeping--5 hr., 30 min.
Learning about the law or the form--58 min.
Preparing the form--2 hr., 1 min.
Copying, assembling, and sending the form to the IRS--6 min.
Frequency of Response: Annually.
Estimated Total Reporting/Recordkeeping Burden: 9,616,272 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. 97-8731 Filed 4-4-97; 8:45 am]
BILLING CODE 4830-01-P
