94-21116. Public Information Collection Requirements Submitted to OMB for Review

[Federal Register Volume 59, Number 165 (Friday, August 26, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-21116]


[[Page Unknown]]

[Federal Register: August 26, 1994]


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DEPARTMENT OF THE TREASURY
 

Public Information Collection Requirements Submitted to OMB for 
Review

August 15, 1994.
    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: 1545-0052.
    Form Number: IRS Forms 990-PF and 4720.
    Type of Review: Revision.
    Title: Return of Private Foundation or Section 4947(a)(1) 
Charitable Trust Treated as a Private Foundation (Form 990-PF); Return 
of Certain Excise Taxes on Charities and Other Persons Under Chapters 
41 and 42 of the Internal Revenue Code (Form 4720).
    Description: Internal Revenue Code (IRC) 6033 requires all private 
foundations, including section 4947(a)(1) trusts treated as private 
foundations, to file an annual information return. Section 53.4940-1(a) 
of the Income Tax Regulations requires that the tax on net investment 
income be reported on the return filed under section 6011 requires a 
report of taxes under Chapter 42 of the Code for prohibited acts by 
private foundations and certain related parties. Section 4947(a)(1) 
trusts may file Form 990-PF in lieu of Form 1041 under the provisions 
of sections 6033 and 6012.
    Respondents: Non-profit institutions.
    Estimated Number of Respondents/Recordkeepers: 48,170.
    Estimated Burden Hours Per Respondent/Recordkeeper: Recordkeeping--
140 hr., 52 min.; Learning about the law or the form--27 hr., 11 min.; 
Preparing the form--31 hr., 37 min.; Copying, assembling, and sending 
the form to the IRS--16 min.
    Frequency of Response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 9,521,323 hours.
    Clearance Officer: Garrick Shear [phone], Internal Revenue 
Service, Room 5571, 1111 Constitution Avenue, N.W., 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. 94-21116 Filed 8-25-94; 8:45 am]
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