[Federal Register Volume 63, Number 168 (Monday, August 31, 1998)]
[Notices]
[Pages 46279-46281]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-23344]
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DEPARTMENT OF THE TREASURY
Submission to OMB for Review; Comment Request
August 18, 1998.
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.
Dates: Written comments should be received on or before September
30, 1998 to be assured of consideration.
Internal Revenue Service (IRS)
OMB Number: 1545-0062.
Form Number: IRS Form 3903.
Type of Review: Revision.
Title: Moving Expenses.
Description: Internal Revenue Code (IRC) section 217 requires
itemization of various allowable moving expenses. Form 3903 is filed
with Form 1040 by individuals claiming employment related moves. The
data is used to help verify that the expenses are deductible and that
the deduction is computed correctly.
Respondents: Individuals or households.
Estimated Number of Respondents/Recordkeepers: 678,678.
Estimated Burden Hours Per Respondent/Recordkeeper:
Recordkeeping--33 minutes.
Learning about the law or the form--9 minutes.
Preparing the form--13 minutes.
Copying, assembling, and sending the form to the IRS--14 minutes.
Frequency of Response: Annually.
Estimated Total Reporting/Recordkeeping Burden: 773,693 hours.
OMB Number: 1545-0087.
Form Number: IRS Forms 1040-ES/V(OCR), 1040-ES(NR) and 1040-
ES(Espanol).
Type of Review: Revision.
Title: Estimated Tax for Individuals (U.S. Citizens and Residents)
(1040-ES/V (OCR)); U.S. Estimated Tax for Nonresident Alien Individuals
(1040-ES(NR)); and Contribuciones Federales Estimadas Del Trabajo Por
Cuenta Propia Y Sobre El Empleo De Empleados Domesticos--Puerto Rico
(1040-ES(Espanol).
Description: Form 1040-ES is used by individuals (including self-
employed) to make estimated tax payments if their estimated tax due is
$500 or more. IRS uses the data to credit taxpayers' accounts and to
determine if estimated tax has been properly computed and timely paid.
Respondents: Individuals or households.
Estimated Number of Respondents/Recordkeepers: 14,563,250.
Estimated Burden Hours Per Respondent/Recordkeeper:
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Copying, assembling,
Form Recordkeeping Learning about the law or Preparing the form/ and sending the form
the form worksheet/voucher to the IRS
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1040-ES/V (OCR)..................... 1 hr., 19 min..................... 17 min..................... 49 min..................... 10 min.
1040-ES (NR)........................ 40 min............................ 12 min..................... 59 min..................... 10 min.
1040-ES (Espanol)................... 7 min............................. 7 min...................... 35 min..................... 10 min.
--------------------------------------------------------------------------------------------------------------------------------------------------------
Frequency of Response: Quarterly.
Estimated Total Reporting/Recordkeeping Burden: 105,621,392 hours.
OMB Number: 1545-0162.
Form Number: IRS Form 4136.
Type of Review: Revision.
Title: Credit for Federal Tax Paid on Fuels.
Description: Internal Revenue Code section 34 allows a credit for
Federal excise tax for certain fuel uses. This form is used to figure
the amount of the income tax credit. The data is used to verify the
validity of the claim for the type of nontaxable or exempt use.
Respondents: Business or other for-profit, Individuals or
households, Not-for-profit institutions, Farms.
Estimated Number of Respondents/Recordkeepers: 619,851.
Estimated Burden Hours Per Respondent/Recordkeeper:
Recordkeeping--22 hr., 14 min.
Learning about the law or the form--18 min.
Preparing and sending the form to the IRS--41 minutes.
Frequency of Response: Annually.
Estimated Total Reporting/Recordkeeping Burden: 3,668,255 hours.
OMB Number: 1545-0458.
Form Number: IRS Form 4852.
Type of Review: Revision.
Title: Substitute for Form W-2, Wage and Tax Statement or Form
1099R, Distributions from Pensions, Annuities, Retirement or Profit-
Sharing Plans, IRA's Insurance Contracts, Etc.
Description: In the absence of a Form W-2 or 1099R from the
employer or payer, Form 4852 is used by the taxpayer to estimate gross
wages, pensions, annuities, retirement or IRA payments received as well
as income or FICA tax withheld during the year. It is attached to the
return for processing.
Respondents: Individuals or households, Business or other for-
profit, Farms, Federal Government, State, Local or Tribal Government.
Estimated Number of Respondents: 1,500,000.
Estimated Burden Hours Per Respondent: 18 minutes.
Frequency of Response: On occasion.
Estimated Total Reporting Burden: 450,000 hours.
OMB Number: 1545-1007.
[[Page 46280]]
Form Number: IRS Form 8606.
Type of Review: Revision.
Title: Nondeductible IRAs.
Description: Internal Revenue Code (IRC) section 408(o) requires
certain information regarding nondeductible contributions to
traditional IRAs (reported on Part I of Form 8606). IRC section 408A(d)
requires information regarding conversions from traditional IRAs to
Roth IRAs and distributions from Roth IRAs (reported on Parts II and
III of Form 8606). IRC section 530 requires information regarding
distributions from Ed IRAs (reported on Part V of Form 8606).
Respondents: Individuals or households.
Estimated Number of Respondents/Recordkeepers: 2,000,000.
Estimated Burden Hours Per Respondent/Recordkeeper:
Recordkeeping--53 min.
Learning about the law or the form--2 hr., 0 min.
Preparing the form--2 hr., 0 min.
Copying, assembling, and sending the form to the IRS--1 hr., 53 min.
Frequency of Response: Annually.
Estimated Total Reporting/Reporting Burden: 2,551,220 hours.
OMB Number: 1545-1102.
Regulation Project Number: PS-19-92 Final.
Type of Review: Extension.
Title: Carryover Allocation and Other Rules Relating to the Low-
Income Housing Credit.
Description: The regulations provide the Service the Information it
needs to ensure that low-income housing tax credits are being properly
allocated under section 42. This is accomplished through the use of
carryover allocation documents, election statements, and binding
agreements executed between taxpayers (e.g., individuals, businesses,
etc.) and housing credit agencies.
Respondents: Business or other for-profit, Individuals or
households, Not-for-profit institutions, State, Local or Tribal
Government.
Estimated Number of Respondents/Recordkeepers: 2,230.
Estimated Burden Hours Per Respondent/Recordkeeper: 1 hr., 48 min.
Frequency of Response: Other (one-time).
Estimated Total Reporting/Recordkeeping Burden: 4,008 hours.
OMB Number: 1545-01141.
Notice Number: Notice 89-102.
Type of Review: Extension.
Title: Treatment of Acquisition of Certain Financial Institutions;
Tax Consequences of Federal Financial Assistance.
Description: Section 597 of the Internal Revenue Code provides that
the Secretary shall provide guidance concerning the tax consequences of
Federal financial assistance received by qualifying institutions. These
institutions may defer payment of Federal income tax attributable to
the assistance. Required information identifies deferred tax
liabilities.
Respondents: Business or other for-profit.
Estimated Number of Respondents: 250.
Estimated Burden Hours Per Respondent: 30 minutes.
Frequency of Response: Annually.
Estimated Total Reporting Burden: 125 hours.
OMB Number: 1545-1153.
Regulation Project Number: PS-73-89 (TD 8370) Final.
Type of Review: Extension.
Title: Excise Tax on Chemicals That Deplete the Ozone Layer and on
Products Containing Such Chemicals.
Description: Section 4681 imposes a tax on ozone-depleting
chemicals sold or used by a manufacturer or importer thereof and
imported taxable productions sold or used by an importer thereof. A
floor stocks tax is also imposed. This regulation provides reporting
and recordkeeping rules.
Respondents: Business or other for-profit.
Estimated Number of Respondents/Recordkeepers: 150,316.
Estimated Burden Hours Per Respondent/Recordkeeper: 30 minutes.
Frequency of Response: On occasion.
Estimated Total Reporting/Reporting Burden: 75,142 hours.
OMB Number: 1545-1155.
Regulation Project Number: PS-74-89 (TD 8282) Final.
Type of Review: Extension.
Title: Election of Reduced Research Credit.
Description: These regulations prescribe the procedure for making
the election described in section 280C(c) of the Internal Revenue Code.
Taxpayers making this election must reduce their 41(a) research credit,
but are not required to reduce their deductions for qualified research
expenses, as required in paragraphs (1) and (2) of section 280C(c).
Respondents: Business or other for-profit, Individuals or
households.
Estimated Number of Respondents: 200.
Estimated Burden Hours Per Respondent: 15 minutes.
Frequency of Response: Annually.
Estimated Total Reporting Burden: 50 hours.
OMB Number: 1545-1430.
Form Number: IRS Forms 935, 935-A and 945-V.
Type of Review: Revision.
Title: Annual Return of Withheld Federal Income Tax (945); Annual
Record of Federal Tax Liability (945-A); and Form 945 Payment Voucher
(945-V).
Description: Form 945 is used to report income tax withholding on
nonpayroll payments including backup withholding and withholding on
pensions, annuities, IRA's, military retirement and gambling winnings.
Form 945-A is used to report nonpayroll tax liabilities. Form 945-V is
used by those taxpayers who submit a payment with their return.
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: 193,468.
Estimated Burden Hours Per Respondent/Recordkeeper:
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Learning about the law or Preparing the
Form Recordkeeping the form form
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945.............................. 6 hr., 14 min.................. 30 min................... 35 min.
945-A............................ 9 hr., 34 min.................. 30 min................... 41 min.
945-V............................ 59 min.........................
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Frequency of Response: Annually
Estimated Total Reporting/Reporting Burden: 2,028,215 hours.
OMB Number: 1545-1605.
Revenue Ruling Number: Revenue Ruling 98-30.
Type of Review: Extension.
Title: Negative Election in a Section 401(k) Plan.
[[Page 46281]]
Description: Revenue Ruling 98-30 describes certain criteria that
must be met before an employee's compensation can be contributed to an
employer's section 401(k) plan in the absence of an affirmative
election by the employee.
Respondents: Business or other for-profit, Not-for-profit
institutions.
Estimated Number of Respondents: 1,000.
Estimated Burden Hours Per Respondent: 1 hour.
Frequency of Response: On occasion.
Estimated Total Reporting Burden: 1,000 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. 98-23344 Filed 8-28-98; 8:45 am]
BILLING CODE 4830-01-P
