[Federal Register Volume 62, Number 134 (Monday, July 14, 1997)]
[Notices]
[Page 37642]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-18336]
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DEPARTMENT OF THE TREASURY
Submission to OMB for Review; Comment Request
July 7, 1997.
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, Pub. L. 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: 1545-0771.
Regulation Project Number: EE-63-88 Final and Temporary; IA-140-86
Temporary; and REG-209785-95 NPRM and Temporary.
Type of Review: Extension.
Title: Taxation of Fringe Benefits and Exclusions From Gross Income
for Certain Fringe Benefits (EE-63-88); Fringe Benefits; Listed
Property (IA-140-86); and Substantiation of Business Expenses for
Travel, Entertainment, Gifts and Listed Property (REG-209785-95).
Description: EE-63-88: This regulation provides guidance on the tax
treatment of taxable and nontaxable fringe benefits and general and
specific rules for the valuation of taxable fringe benefits in
accordance with Code sections 61 and 132. The regulation also provides
guidance on exclusions from gross income for certain fringe benefits.
IA-140-86: This regulation provides guidance relating to the
requirement that any deduction or credit with respect to business
travel, entertainment, and gift expenses be substantiated with adequate
records in accordance with Code section 274(d). The regulation also
provides guidance on the taxation of fringe benefits and clarifies the
types of records that are generally necessary to substantiate any
deduction or credit for listed property.
REG-209785-95: This regulation provides that taxpayers who deduct,
or reimburse employees for, business expenses for travel,
entertainment, gifts, or listed property are required to maintain
certain records, including receipts, for expenses of $75 or more. The
regulation amends existing regulations by raising the receipt threshold
from $25 to $75.
Respondents: Business or other for-profit, Individuals or
household, Not-for-profit institutions, Farms, Federal Government,
State, Local or Tribal Government.
Estimated Number of Respondents/Recordkeepers: 28,582,150.
Estimated Burden Hours Per Respondent/Recordkeeper: 1 hr., 18 min.
Frequency of Response: On occasion.
Estimated Total Reporting/Recordkeeping Burden: 37,922,688 hours.
OMB Number: 1545-1350.
Form Number: IRS Form 9465.
Type of Review: Extension.
Title: Installment Agreement Request.
Description: This form is used by the public to provide identifying
account information and financial ability to enter into an installment
agreement. The form is used by IRS to establish a payment plan for
taxes owed to the Federal Government, if appropriate, and to inform
taxpayers about the application fee.
Respondents: Individuals or households.
Estimated Number of Respondents: 2,500,000.
Estimated Burden Hours Per Respondent: 47 minutes.
Frequency of Response: On occasion.
Estimated Total Reporting Burden: 2,125,000 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. 97-18336 Filed 7-11-97; 8:45 am]
BILLING CODE 4830-01-P
