94-12988. Public Information Collection Requirements Submitted to OMB for Review

[Federal Register Volume 59, Number 102 (Friday, May 27, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-12988]


[[Page Unknown]]

[Federal Register: May 27, 1994]


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DEPARTMENT OF THE TREASURY
 

Public Information Collection Requirements Submitted to OMB for 
Review

May 20, 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: 1545-0184.
    Form Number: IRS Form 4797.
    Type of Review: Extension.
    Title: Sales of Business Property.
    Description: Form 1099-G is used by taxpayers to report sales, 
exchanges, or involuntary conversions of assets, other than capital 
assets, and involuntary conversions of capital assets held more than 
one year. It is also used to compute ordinary income from recapture and 
the recapture of prior year section 1231 losses.
    Respondents: Individuals or households, Farms, Businesses or other 
for-profit.
    Estimated Number of Respondents/Recordkeepers: 1,396,388.
    Estimated Burden Hours Per Respondent/Recordkeeper:
    Recordkeeping 30 hr., 8 min.
    Learning about the law or the form 11 hr., 22 min.
    Preparing the form 17 hr., 1 min.
    Copying, assembling, and sending the form to the IRS 1 hr., 20 min.
    Frequency of Response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 83,587,785 hours.
    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. 94-12988 Filed 5-26-94; 8:45 am]
BILLING CODE 4830-01-P