Submission for OMB Review; Comment Request, 47864-47865 [E6-13610]

Agencies

• DEPARTMENT OF THE TREASURY
• Department of Treasury

[Federal Register Volume 71, Number 160 (Friday, August 18, 2006)]
[Notices]
[Pages 47864-47865]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-13610]



[[Page 47864]]

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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

August 10, 2006.
    The Department of the 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 
11000, 1750 Pennsylvania Avenue, NW., Washington, DC 20220.
    Dates: Written comments should be received on or before September 
18, 2006 to be assured of consideration.

Internal Revenue Service (IRS)

    OMB Number: 1545-0940.
    Type of Review: Extension.
    Title: Election of $10 Million Limitation on Exempt Small Issues of 
Industrial Development Bonds; Supplemental Capital Expenditure 
Statements.
    Description: The regulation liberalizes the procedure by which the 
State or local government issuer of an exempt small issue of tax-exempt 
bonds elects the $10 million limitation upon the size of such issue and 
deletes the requirement to file certain supplemental capital 
expenditure statements.
    Respondents: State, local, or tribal governments.
    Estimated Total Burden Hours: 1,000 hours.

    OMB Number: 1545-0217.
    Type of Review: Extension.
    Title: Possessions Corporation Tax Credit (Under Sections 936 and 
30A), and Schedule P, Allocation of Income and Expenses Under Section 
936(h)(5).
    Form: 5735.
    Description: Form 5735 is used to compute the possessions tax 
credit under sections 936 & 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-share or profit-
split method.
    Respondents: Business and other for-profit institutions.
    Estimated Total Burden Hours: 33,818 hours.

    OMB Number: 1545-1816.
    Type of Review: Extension.
    Title: Disclosure of Returns and Return Information to Designee of 
Taxpayer.
    Description: Regulation section 301.6103(c)-1 generally authorizes 
the IRS and its agents to disclose returns and return information to 
such person or persons as the taxpayer may designate in a written 
request for or consent to disclosure, or to any other person at the 
taxpayer's written or nonwritten request to the extent necessary to 
comply with a request for information or assistance made by the 
taxpayer to such other person. The regulation requires a taxpayer who 
wishes to authorize disclosure of his or her returns or return 
information to provide the IRS or its agents with certain information, 
such as information identifying.
    Respondents: Individuals or Households.
    Estimated Total Burden Hours: 800 hours.

    OMB Number: 1545-1432.
    Type of Review: Extension.
    Title: Voluntary Customer Surveys to Implement E.O. 12862 
Coordinated by the Corporate Planning and Performance Division on 
Behalf of All IRS Operations Functions.
    Description: This is a generic clearance for an undefined number of 
customer satisfaction and opinion surveys and focus group interviews to 
be conducted over the next three years. Surveys and focus groups 
conducted under the generic clearance are used by the Internal Revenue 
Service to determine levels of customer satisfaction as well as 
determining issues that contribute to customer burden. This information 
will be used to make quality improvements to products and services.
    Respondents: Business and other for-profit institutions.
    Estimated Total Burden Hours: 50,000 hours.

    OMB Number: 1545-1833.
    Type of Review: Extension.
    Title: Revenue Procedure 2003-37, Documentation Provisions for 
Certain Taxpayers Using the Fair Market Value Method of Interest 
Expense Apportionment.
    Description: Revenue Procedure 2003-37 describes documentation and 
information a taxpayer that uses the fair market value method of 
apportionment of interest expense may prepare and make available to the 
Service upon request in order to establish the fair market value of the 
taxpayer's assets to the satisfaction of the Commissioner as required 
by Sec. 1.861-9T(g)(1)(iii). It also sets forth the procedures to be 
followed in the case of elections to use the fair market value method.
    Respondents: Business and other for-profit institutions.
    Estimated Total Burden Hours: 625 hours.

    OMB Number: 1545-1190.
    Type of Review: Extension.
    Title: Like-Kind Exchanges.
    Form: 8824.
    Description: Form 8824 is used by individuals, partnerships, and 
other entities to report the exchange of business or investment 
property, and the deferral of gains from such transactions under 
section 1031. It is also used to report the deferral of gain under 
section 1043 by members of the executive branch of the Federal 
government.
    Respondents: Individuals or households.
    Estimated Total Burden Hours: 834,979 hours.

    OMB Number: 1545-1069.
    Type of Review: Extension.
    Title: Certain Cash or Deferred Arrangements and Employee and 
Matching Contributions under Employee Plans: REG-108639-99 (NPRM) 
Retirement Plans; Cash or Deferred Arrangements.
    Form: 8824.
    Description: The IRS needs this information to insure compliance 
with sections 401(k), 401(m), and 4979 of the Internal Revenue Code. 
Certain additional taxes may be imposed if sections 401(k) and 401(m) 
are not complied with.
    Respondents: Businesses or other for-profit institutions.
    Estimated Total Burden Hours: 1,060,000 hours.

    OMB Number: 1545-1020.
    Type of Review: Extension.
    Title: Allocation of Estimated Tax Payments to Beneficiaries.
    Form: 1041-T.
    Description: This form was developed to allow a trustee of a trust 
or an executor of an estate to make an election under IRC section 
643(g) to allocate any payment of estimated tax to a beneficiary(ies). 
This form serves as a transmittal so that Service Center personnel can 
determine the correct amounts that are to be transferred from the 
fiduciary's account to the individual's account.
    Respondents: Business or other for-profit institutions.
    Estimated Total Burden Hours: 990 hours.
    Clearance Officer: Glenn P. Kirkland, (202) 622-3428, Internal 
Revenue Service, Room 6516, 1111 Constitution Avenue, NW., Washington, 
DC 20224.

[[Page 47865]]

    OMB Reviewer: Alexander T. Hunt, (202) 395-7316, Office of 
Management and Budget, Room 10235, New Executive Office Building, 
Washington, DC 20503.

Robert Dahl,
Treasury PRA Clearance Officer.
 [FR Doc. E6-13610 Filed 8-17-06; 8:45 am]
BILLING CODE 4830-01-P