96-18732. Submission To OMB for Review; Comment Request

[Federal Register Volume 61, Number 143 (Wednesday, July 24, 1996)]
[Notices]
[Page 38515]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-18732]


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DEPARTMENT OF THE TREASURY

Submission To OMB for Review; Comment Request

July 15, 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: 1545-1407.
    Form Number: IRS Form 8848.
    Type of Review: Extension.
    Title: Consent To Extend the Time To Assess the Branch Profits Tax 
Under Regulations Sections 1.884-2T (a) and (c).
    Description: Form 8848 will be used by foreign corporations that 
have (a) completely terminated all of their U.S. trade or business 
within the meaning of Regulations section 1.884-2T(a) during the tax 
year or (b) transferred their U.S. assets to domestic corporation in a 
transaction described in section 381(a), if the foreign corporation was 
engaged in a U.S. trade or business at that time.
    Respondents: Business or other for-profit.
    Estimated Number of Respondents/Recordkeepers: 5,000.

Estimated Burden Hours Per Respondent/Recordkeeper:
    Recordkeeping--4 hr., 4 min.
    Learning about the law or the form--47 min.
    Preparing and sending the form to the IRS--54 min.

    Frequency of Response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 28,800 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 10226, New Executive Office Building, Washington, DC 
20503.
Dale A. Morgan,
Departmental Reports, Management Officer.
[FR Doc. 96-18732 Filed 7-23-96; 8:45 am]
BILLING CODE 4830-01-P