96-13078. Submission to OMB for Review; Comment Request

[Federal Register Volume 61, Number 102 (Friday, May 24, 1996)]
[Notices]
[Page 26252]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-13078]



-----------------------------------------------------------------------


DEPARTMENT OF THE TREASURY

Submission to OMB for Review; Comment Request

May 16, 1996.
    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: 1545-0879.
    Regulation ID Number: IA-195-78 Final.
    Type of Review: Extension.
    Title: Certain Returned Magazines, Paperbacks, or Records.
    Description: The regulations provide rules relating to an exclusion 
from gross income for certain returned merchandise. The regulations 
provide that in addition to physical return of the merchandise, a 
written statement listing certain information may constitute evidence 
of the return. Taxpayers who receive physical evidence of the return 
may, in lieu of retaining physical evidence, retain documentary 
evidence of the return. Taxpayers in the trade or business of selling 
magazines, paperbacks, or records, who elect to use a certain method of 
accounting, are affected.
    Respondents: Business or other for-profit.
    Estimated Number of Recordkeepers: 19,500.
    Estimated Burden Hours Per Recordkeeper: 25 minutes.
    Frequency of Response: Other.
    Estimated Total Recordkeeping Burden: 8,125 hours.
    OMB Number: 1545-1393.
    Regulation ID Number: EE-14-81 NPRM.
    Type of Review: Extension.
    Title: Deductions and Reductions in Earnings and Profits (or 
Accumulated Profits) with respect to Certain Foreign Deferred 
Compensation Plans Maintained by Certain Foreign Corporations or by 
Foreign Branches of Domestic Corporations.
    Description: The regulation provides guidance regarding the 
limitations on deductions and adjustments to earnings and profits (or 
accumulated profits) for certain foreign deferred compensation plans. 
Respondents will be multinational corporations.
    Respondents: Business or other for-profit.
    Estimated Number of Respondents/Recordkeepers: 1.
    Estimated Burden Hours Per Respondent/Recordkeeper: 1 hour.
    Frequency of Response: On occasion.
    Estimated Total Reporting/Recordkeeping 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 10226, New Executive Office Building, Washington, DC 
20503.
Lois K. Holland,
Departmental Reports Management Officer.
[FR Doc. 96-13078 Filed 5-23-96; 8:45 am]
BILLING CODE 4830-01-P