[Federal Register Volume 62, Number 128 (Thursday, July 3, 1997)]
[Notices]
[Pages 36091-36092]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-17492]
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DEPARTMENT OF THE TREASURY
Submission to OMB for Review; Comment Request
June 24, 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, 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: 1545-0120.
Form Number: IRS Form 1099-G.
Type of Review: Extension.
Title: Certain Government and Qualified State Tuition Program
Payments.
Description: Form 1099-G is used by governments (primarily state
and local) to report to the IRS (and notify recipients of) certain
payments (e.g., unemployment compensation and income tax refunds). We
use the information to insure that the income is being properly
reported by the recipients on their returns.
Respondents: Federal Government, State, Local or Tribal Government.
Estimated Number of Respondents: 2,900.
Estimated Burden Hours Per Respondent: 12 minutes.
Frequency of Response: Annually.
Estimated Total Reporting Burden: 11,726,328 hours.
OMB Number: 1545-0195.
Form Number: IRS Form 5213.
Type of Review: Extension.
Title: Election to Postpone Determination as To Whether the
Presumption Applies That an Activity is Engaged in for Profit.
Description: This form is used by individuals, partnerships,
estates, trusts, and S corporations to make an election to postpone an
IRS determination as to whether an activity is engaged in for profit.
The election is made on Form 5213 and allows taxpayers 5 years (7 years
for breeding, training, showing, or racing horses) to show a profit
from an activity. The data is used to verify eligibility to make the
election.
Respondents: Business or other for-profit, Individuals or
households.
Estimated Number of Respondents/Recordkeepers: 10,730.
Estimated Burden Hours Per Respondent/Recordkeepers:
Recordkeeping--7 min.
Learning about the law or the form--7 min.
Preparing the form--10 min.
Copying, assembling, and sending the form to the IRS--20 min.
Frequency of Response: On occasion.
Estimated Total Reporting/Recordkeeping Burden: 7,726 hours.
OMB Number: 1545-0205.
Form Number: IRS Form 5452.
Type of Review: Extension.
Title: Corporate Report of Nondividend Distributions.
Description: Form 5452 is used by corporations to report their
nontaxable distributions as required by Internal Revenue Code (IRC)
6042(d)(2). The information is used by IRS to verify that the
distributions are nontaxable as claimed.
Respondents: Business or other for-profit, Farms.
Estimated Number of Respondents/Recordkeepers: 1,700.
Estimated Burden Hours Per Respondent/Recordkeeper:
Recordkeeping--19 hr., 51 min.
Learning about the law or the form--1 hr., 26 min.
Preparing the form--3 hr., 41 min.
Copying, assembling, and sending the form to the IRS--32 min.
Frequency of Response: On occasion.
Estimated Total Reporting/Recordkeeping Burden: 43,350 hours.
OMB Number: 1545-0495.
Form Number: IRS Form 4506-A.
Type of Review: Extension.
Title: Request for Public Inspection or Copy of Exempt Organization
Tax Form.
Description: Form 4506-A is used to request a public inspection or
a copy of an exempt organization tax form. It is
[[Page 36092]]
also used to request an aperture card of Form 990-PF.
Respondents: Business or other for-profit, Individuals or
households, Not-for-profit institutions Farms, Federal Government,
State, Local or Tribal Government.
Estimated Number of Respondents/Recordkeepers: 20,000.
Estimated Burden Hours Per Respondent/Recordkeepers:
Recordkeeping--7 min.
Learning about the law or the form--3 min.
Preparing the form--14 min.
Copying, assembling, and sending the form to the IRS--14 min.
Frequency of Response: On occasion.
Estimated Total Reporting/Recordkeeping Burden: 12,400 hours.
OMB Number: 1545-1008.
Form Number: IRS Form 8582.
Type of Review: Extension.
Title: Passive Activity Loss Limitations.
Description: Under section 469, losses from passive activities, to
the extent that they exceed income from passive activities, cannot be
deducted against nonpassive income. Form 8582 is used to figure the
passive activity loss allowed and the loss to be reported on the tax
return. Worksheets 1 and 2 are used to figure the amount to be entered
on lines 1 and 2 of Form 8582 and worksheets 3 through 6 are used to
allocate the loss allowed back to individual activities.
Respondents: Business or other for-profit, Individuals or
households.
Estimated Number of Respondents/Recordkeepers: 4,500,000.
Estimated Burden Hours Per Respondent/Recordkeeper:
Recordkeeping--1 hr., 5 min.
Learning about the law or the form--1 hr., 44 min.
Preparing the form--1 hr., 34 min.
Copying, assembling, and sending the form to the IRS--20 min.
Frequency of Response: Annually.
Estimated Total Reporting/Recordkeeping Burden: 21,660,000 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. 97-17492 Filed 7-2-97; 8:45 am]
BILLING CODE 4830-01-P
