[Federal Register Volume 62, Number 178 (Monday, September 15, 1997)]
[Notices]
[Pages 48335-48336]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-24315]
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DEPARTMENT OF THE TREASURY
Submission to OMB for Review; Comment Request
September 5, 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, Pub.
[[Page 48336]]
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.
Internal Revenue Service (IRS)
OMB Number: 1545-0217
Form Number: IRS Forms 5735 and Schedule P (Form 5735).
Type of Review: Extension.
Title: Possessions Corporation Tax Credit (Under Sections 936 and
30A) (5735); and Allocation of Income and Expenses Under Section
936(h)(5) (Schedule P).
Description: Form 5735 is used to compute the possessions tax
credit under sections 936 and 30A. Schedule P is used by corporations
that elect to share the income or expenses with their affiliates. Each
form provides the IRS with information to determine if the corporations
have correctly computed the tax credit and the cost-sharing or profit-
split method.
Respondents: Business or other for-profit.
Estimated Number of Respondents/Recordkeepers: 1,371.
Estimated Burden Hours Per Respondent/Recordkeeper:
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Learning about the law of Copying, assembling, and
Form Recordkeeping the form Preparing the form sending the form to the IRS
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5735............................ 20 hr., 34 min.............. 3 hr., 38 min............... 5 hr., 4 min................ 16 min.
Schedule P (5735)............... 10 hr., 2 min............... 1 hr., 56 min............... 4 hr., 2 min................ 32 min.
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Frequency of Response: Annually.
Estimated Total Reporting/Recordkeeping Burden: 32,713 hours.
OMB Number: 1545-1016.
Form Number: IRS Form 8613.
Type of Review: Extension.
Title: Return of Excise Tax on Undistributed Income of Regulated
Investment Companies.
Description: Form 8613 is used by regulated investment companies to
compute and pay the excise tax on undistributed income imposed under
section 4982. IRS uses the information to verify that the correct
amount of tax has been reported.
Respondents: Business or other for-profit.
Estimated Number of Respondents/Recordkeepers: 1,500.
Estimated Burden Hours Per Respondent/Recordkeeper:
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Learning about
Form Recordkeeping the law or the Preparing and
form sending the form
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5735............. 6 hr., 42 min 2 hr., 29 min 2 hr., 43 min.
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Frequency of Response: Annually.
Estimated Total Reporting/Recordkeeping Burden: 17,835 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. 97-24315 Filed 9-12-97; 8:45 am]
BILLING CODE 4830-01-P
