00-15656. Submission for OMB Review; Comment Request

June 15, 2000.

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.

DATES:

Written comments should be received on or before July 21, 2000, to be assured of consideration.

Internal Revenue Service (IRS)

OMB Number: 1545-1480.

Regulation Project Number: FI-34-94 Final.

Type of Review: Extension.

Title: Hedging Transactions by Members of a Consolidated Group.

Description: The information is required by the IRS to aid it in administering the law and to prevent manipulation. The information will be used to verify that a taxpayer is properly reporting its business hedging transactions.

Respondents: Business or other for-profit.

Estimated Number of Respondents/Recordkeepers: 17,100.

Estimated Burden Hours Per Respondent/Recordkeeper: 4 hours, 27 minutes.

Frequency of Response: Other (one time).

Estimated Total Reporting/Recordkeeping Burden: 76,050 hours.

Clearance Officer: Garrick Shear, Internal Revenue Service, Room 5244, 1111 Constitution Avenue, NW, Washington, DC 20224,

OMB Reviewer: Alexander T. Hunt [phone], Office of Management and Budget, Room 10202, New Executive Office Building, Washington, DC 20503.

Mary A. Able,

Departmental Reports Management Officer.