[Federal Register Volume 60, Number 105 (Thursday, June 1, 1995)]
[Notices]
[Pages 28651-28653]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-13417]
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DEPARTMENT OF THE TREASURY
Public Information Collection Requirements Submitted to OMB for
Review
May 24, 1995.
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 (IRS)
OMB Number: 1545-0015.
Form Number: IRS Form 706 and Schedules.
Type of Review: Extension.
Title: United States Estate (and Generation-Skipping Transfer) Tax
Return.
Description: Form 706 is used by executors to report and compute
the Federal Estate Tax imposed by Internal Revenue Code (IRC) section
2001, the Federal Generation-Skipping Transfer (GST) tax imposed by IRC
section 2601, [[Page 28652]] and the additional Estate Tax imposed by
Code section 4980A. IRS uses the information to enforce these taxes and
to verify that the tax has been properly computed.
Respondents: Individuals or households, Business or other for-
profit.
Estimated Number of Respondents/Recordkeepers: 65,000.
Estimated Burden Hours Per Respondent/Recordkeepers:
----------------------------------------------------------------------------------------------------------------
Copying,
Learning about Preparing the assemblying, and
Form/Sched Recordkeeping law of the form form sending the form
to the IRS
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706..................................... 2 hr., 11 min... 1 hr., 9 min.... 3 hr., 26 min... 49 min.
Sched. A................................ 20 min.......... 16 min.......... 10 min.......... 20 min.
Sched. A-1.............................. 46 min.......... 25 min.......... 59 min.......... 49 min.
Sched. B................................ 20 min.......... 10 min.......... 11 min.......... 20 min.
Sched. C................................ 13 min.......... 2 min........... 8 min........... 20 min.
Sched. D................................ 7 min........... 6 min........... 8 min........... 20 min.
Sched. E................................ 40 min.......... 7 min........... 24 min.......... 20 min.
Sched. F................................ 33 min.......... 6 min........... 21 min.......... 20 min.
Sched. G................................ 26 min.......... 18 min.......... 11 min.......... 14 min.
Sched. H................................ 26 min.......... 6 min........... 10 min.......... 14 min.
Sched. I................................ 26 min.......... 25 min.......... 11 min.......... 20 min.
Sched. J................................ 26 min.......... 5 min........... 16 min.......... 20 min.
Sched. K................................ 26 min.......... 9 min........... 10 min.......... 20 min.
Sched. L................................ 13 min.......... 5 min........... 10 min.......... 20 min.
Sched. M................................ 13 min.......... 31 min.......... 24 min.......... 20 min.
Sched. O................................ 20 min.......... 9 min........... 18 min.......... 17 min.
Sched. P................................ 7 min........... 14 min.......... 18 min.......... 14 min.
Sched. Q................................ 7 min........... 10 min.......... 11 min.......... 14 min.
Sched. Q Worksheet...................... 7 min........... 10 min.......... 59 min.......... 20 min.
Sched. R................................ 20 min.......... 34 min.......... 1 hr., 1 min.... 49 min.
Sched. R-1.............................. 7 min........... 29 min.......... 24 min.......... 20 min.
Sched. S................................ 26 min.......... 22 min.......... 37 min.......... 25 min.
Continuation............................ 20 min.......... 3 min........... 7 min........... 20 min.
----------------------------------------------------------------------------------------------------------------
Frequency of Response: On occasion.
Estimated Total Reporting/Recordkeeping Burden: 1,436,265 hours.
OMB Number: 1545-0152.
Form Number: IRS Form 3115 and Schedules.
Type of Review: Extension.
Title: Application for Change in Accounting Method.
Description: Form 3115 is used by taxpayers who wish to change
their method of computing their taxable income. The form is used by the
IRS to determine if electing taxpayers have met the requirements and
are able to change to the method requested.
Respondents: Business or other for-profit, Individuals or
households, Farms.
Estimated Number of Respondents/Recordkeepers: 6,400.
Estimated Burden Hours Per Respondent/Recordkeeper:
------------------------------------------------------------------------
Learning about Preparing and
Form/Sched. Recordkeeping the law or the sending the form
form to the IRS
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3115.............. 20 hr., 5 min... 3 hr., 38 min... 5 hr., 20 min.
Sched. A.......... 23 hr., 12 min.. 1 hr., 58 min... 3 hr., 38 min.
Sched. B.......... 4 hr., 18 min... 1 hr., 4 min.... 2 hr., 23 min.
Sched. C.......... 26 hr., 47 min.. 3 hr., 11 min... 3 hr., 45 min.
Sched. D.......... 14 hr., 21 min.. 2 hr., 23 min... 2 hr., 44 min .
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Frequency of Response: Annually.
Estimated Total Reporting/Recordkeeping Burden: 358,091 hours.
OMB Number: 1545-0232.
Form Number: IRS Form 6497.
Type of Review: Extension.
Title: Information Return of Nontaxable Energy Grants or Subsidized
Energy Financing.
Description: Form 6497 is used by any governmental agency or its
agents that make nontaxable grants or subsidized financing for energy
conversation or production programs IRS uses the information from the
form to ensure that recipients have not claimed tax credits or other
benefits with respect to the grant or subsidized financing (no ``double
dipping'').
Respondents: Business or other for-profit, Federal Government,
State, Local or Tribal Government.
Estimated Number of Respondents/Recordkeepers: 250.
Estimated Burden Hours Per Respondent/Recordkeeper:
Recordkeeping: 2 hr., 23 min.
Learning about the law or the form: 18 min.
Preparing, copying, and sending the form to the IRS: 21 min.
Frequency of Response: Annually.
Estimated Total Reporting/Recordkeeping Burden: 760 hours.
OMB Number: 1545-0245.
Form Number: IRS Form 6627.
Type of Review: Extension.
Title: Environmental Taxes.
Description: Form 6627 is attached to Form 720 to compute and
collect tax on petroleum, chemicals, imported chemical substances, and
ozone-depleting chemicals.
Respondents: Business or other for-profit, Individuals or
households. [[Page 28653]]
Estimated Number of Respondents/Recordkeepers: 2,445.
Estimated Burden Hours Per Respondent/Recordkeeper:
Recordkeeping: 21 hr., 2 min.
Learning about the law or the form: 6 min.
Preparing, copying, assembling, and sending the form to the IRS: 26
min.
Frequency of Response: Quarterly.
Estimated Total Reporting/Recordkeeping Burden: 33,431 hours.
OMB Number: 1545-0534.
Form Number: IRS Form 5303.
Type of Review: Extension.
Title: Application for Determination for Collectively Bargained
Plan.
Description: IRS uses Form 5303 to get information needed about the
finances and operation of employee benefit plans set up by employers
under a collective bargaining agreement. The information obtained on
Form 5303 is used to make a determination on whether the plan meets the
requirements to qualify under section 401(a) and whether the related
trust qualifies for exemption under section 501(a) of the Code.
Respondents: Business or other for-profit, Individuals or
households.
Estimated Number of Respondents/Recordkeepers: 2,500.
Estimated Burden Hours Per Respondent/Recordkeeper:
Recordkeeping: 31 hr., 34 min.
Learning about the law or the form: 5 hr., 50 min.
Preparing the form: 10 hr., 20 min.
Copying, assembling, and sending the form to the IRS: 1 hr., 4 min.
Frequency of Response: On occasion.
Estimated Total Reporting/Recordkeeping Burden: 122,050 hours.
OMB Number: 1545-1243.
Regulation ID Number: PS-163-84 Final.
Type of Review: Extension.
Title: Treatment of Transaction Between Partners and Partnerships.
Description: Section 707(a)(2) provides that if there are transfers
of money or property between a partner and a partnership, the transfer
will be treated, in certain situations, as a disguised sale between the
partner and the partnership. The regulations provide that the partner
or the partnership should disclose the transfers and certain attendant
facts in some situations.
Respondents: Business or other for-profit.
Estimated Number of Respondents: 7,500.
Estimated Burden Hours Per Respondent: 20 minutes.
Frequency of Response: Annually.
Estimated Total Reporting Burden: 2,500 hours.
Clearance Officer: Garrick Shear (202) 622-3869, Internal Revenue
Service, Room 5571, 1111 Constitution Avenue, NW., Washington, DC
20224.
OMB Reviewer: Milo Sunderhauf (202) 395-7340, Office of Management
and Budget, Room 10226, New Executive Office Building, Washington, DC
20503.
Lois K. Holland,
Departmental Reports Management Officer.
[FR Doc. 95-13417 Filed 5-31-95; 8:45 am]
BILLING CODE 4830-01-P
