98-24628. Submission to OMB for Review; Comment Request

[Federal Register Volume 63, Number 178 (Tuesday, September 15, 1998)]
[Notices]
[Page 49378]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-24628]


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DEPARTMENT OF THE TREASURY


Submission to OMB for Review; Comment Request

August 31, 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, 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.

DATES: Written comments should be received on or before October 15, 
1998 to be assured of consideration.

Internal Revenue Service (IRS)

    OMB Number: 1545-0099.
    Form Number: IRS Form 1065, Schedule D and Schedule K-1).
    Type of Review: Revision.
    Title: U.S. Partnership Return of Income (1065); Capital Gains and 
Losses (Schedule D); and Partner's Share of Income, Credits, 
Deductions, etc. (Schedule K-1).
    Description: Internal Revenue Code (IRC) section 6031 requires 
partnerships to file returns that show gross income items, allowable 
deductions, partners' names, addresses, and distribution shares, and 
other information. This information is used to verify correct reporting 
of partnership items and for general statistics.
    Respondents: Businesses or other for-profit, Individuals or 
households, Farms.
    Estimated Number of Respondents/Recordkeepers: 1,488,000.
    Estimated Burden Hours Per Respondent/Recordkeeper:

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                                                                   Learning about the law or                                   Copying, assembling, and 
               Form                        Recordkeeping                   the form                 Preparing the form       sending the form to the IRS
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1065.............................  39 hr., 50 min..............  21 hr., 28 min..............  37 hr., 11 min..............  4 hr., 1 min.              
Schedule D.......................  6 hr., 56 min...............  1 hr., 29 min...............  1 hr., 40 min...............                             
Schedule K-1.....................  25 hr., 7 min...............  9 hr., 20 min...............  10 hr., 10 min..............                             
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    Frequency of Response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 1,121,918,608 
hours.
    Clearance Officer: Garrick Shear [phone], Internal Revenue 
Service, Room 5571, 1111 Constitution Avenue, NW, Washington, DC 20224.
    OMB Reviewer: Alexander T. Hunt [phone], Office of 
Management and Budget, Room 10226, New Executive Office Building, 
Washington, DC 20503.
Lois K. Holland,
Departmental Reports Management Officer.
[FR Doc. 98-24628 Filed 9-14-98; 8:45 am]
BILLING CODE 4830-01-P