95-16571. Public Information Collection Requirements Submitted to OMB for Review

[Federal Register Volume 60, Number 129 (Thursday, July 6, 1995)]
[Notices]
[Pages 35258-35259]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-16571]



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DEPARTMENT OF THE TREASURY

Public Information Collection Requirements Submitted to OMB for 
Review

June 29, 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: 1545-1112.
    Regulation ID Number: IA-96-88 Final.
    Type of Review: Extension.
    Title: Certain Elections Under the Technical and Miscellaneous 
Revenue Act of 1988.
    Description: These regulations establish various elections with 
respect to which immediate interim guidance on the time and manner of 
making the elections is necessary. These regulations enable taxpayers 
to take advantage of the benefits of various Code provisions.
    Respondents: Individuals or households, Business or other for-
profit, Not-for-profit institutions, Farms, State, Local or Tribal 
Government.
    Estimated Number of Respondents: 24,305.
    Estimated Burden Hours Per Respondent: 17 minutes.
    Frequency of Response: On occasion.
    Estimated Total Reporting Burden: 7,712 hours.

    OMB Number: 1545-1324.
    Regulation ID Number: CO-88-90 Final.
    Type of Review: Extension.
    Title: Limitation on Net Operating Loss Carryforwards and Certain 
Built-In Losses Following Ownership Change; Special Rule for Value of a 
Loss Corporation Under the Jurisdiction of a Court in a Title 11 Case.
    Description: This information serves as evidence of an election to 
apply section 382(1)(6) in lieu of section 382(1)(5) and an election to 
apply the provisions of the regulations retroactively. It is required 
by the Internal Revenue Service to assure that the proper amount of 
carryover attributes are used by a loss corporation following specified 
types of ownership changes.
    Respondents: Business or other for-profit.
    Estimated Number of Respondents: 3,250.
    Estimated Burden Hours Per Respondent: 15 minutes.
    Frequency of Response: On occasion.
    Estimated Total Reporting Burden: 813 hours.

    OMB Number: 1545-1339.
    Regulation ID Number: IA-33-92 Final.
    Type of Review: Extension.
    Title: Information Reporting for Reimbursements of Interest on 
Qualified Mortgages.
    Description: To encourage compliance with the tax laws relating to 
the mortgage interest deduction, the regulations would require the 
reporting on Form 1098 of reimbursements of interest overcharged in a 
prior year. Only businesses that received mortgage interest in the 
course of that business are affected by this reporting requirement.
    Respondents: Business or other for-profit.
    Estimated Number of Respondents: 1.
    Estimated Burden Hours Per Respondent: 1 hour.
    Frequency of Response: Annually.
    Estimated Total Reporting Burden: 1 hour.


[[Page 35259]]

    OMB Number: 1545-1341.
    Regulation ID Number: EE-43-92 NPRM and Temporary Regulations.
    Type of Review: Extension.
    Title: Direct Rollover and 20 Percent Withholding Upon Eligible 
Rollover Distributions From Qualified Plans, etc.
    Description: These regulations provide rules implementing the 
provisions of the enacted Unemployment Compensation Amendments (Public 
Law 102-318) requiring 20 percent income tax withholding upon certain 
distributions from qualified pension plans or tax-sheltered annuities.
    Respondents: Individuals or households, Business or other for-
profit, Not-for-profit institutions, Federal Government, State, Local 
or Tribal Government.
    Estimated Number of Respondents: 10,160,000.
    Estimated Burden Hours Per Respondent: 30 minutes.
    Frequency of Response: Annually.
    Estimated Total Reporting Burden: 2,116,300 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.
Lois K. Holland,
Departmental Reports Management Officer.
[FR Doc. 95-16571 Filed 7-5-95; 8:45 am]
BILLING CODE 4830-01-P