[Federal Register Volume 65, Number 102 (Thursday, May 25, 2000)]
[Notices]
[Pages 33884-33885]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 00-13118]


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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

May 12, 2000.
    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 June 26, 2000 
to be assured of consideration.

Internal Revenue Service (IRS)

    OMB Number: 1545-0025.
    Form Number: IRS Form 712.
    Type of Review: Revision.
    Title: Life Insurance Statement.
    Description: Form 712 is used to establish the value of life 
insurance policies for estate and gift tax purposes. The tax is based 
on the value of these policies. The form is completed by life insurance 
companies.
    Respondents: Business or other for-profit.
    Estimated Number of Respondents/Recordkeepers: 60,000.
    Estimated Burden Hours Per Respondent/Recordkeeper:

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Recordkeeping.............................  18 hr., 11 min.
Learning about the law or the form........  6 min.
Preparing and sending the form to the IRS.  23 min.
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    Frequency of Response: On occasion.
    Estimated Total Reporting/Recordkeeping Burden: 1,120,800 hours.

    OMB Number: 1545-0257.
    Form Number: IRS Forms 8109, 8109-B, and 8109-C.
    Type of Review: Extension.
    Title: Federal Tax Deposits (8109 and 8109-B); and FTD Address 
Change (8109-C).
    Description: Federal Tax Deposit Coupons are used to deposit 
certain types of taxes at authorized depositaries. Coupons are sent to 
the IRS Centers for crediting to taxpayers' accounts. Data is used by 
the IRS to make the credit and to verify tax deposits claimed on the 
returns. The FTD Address change is used to change the address on the 
FTD coupons. All taxpayers required to make deposits are affected.
    Respondents: Business or other for-profit, Not-for-profit 
institutions, Farms, Federal Government, State, Local or Tribal 
Government.
    Estimated Number of Respondents: 9,300,700.
    Estimated Burden Hours Per Respondent: 2 minutes.
    Frequency of Response: On occasion, Weekly, Monthly, Other (semi-
weekly, monthly).

[[Page 33885]]

    Estimated Total Reporting Burden: 1,841,607 hours.

    OMB Number: 1545-1091.
    Form Number: IRS Form 8810.
    Type of Review: Extension.
    Title: Corporate Passive Activity Loss or Credit Limitations.
    Description: Under section 469, losses and credits from passive 
activities, to the extent they exceed passive income (or, in the case 
of credits, the tax attributable to net passive income), are not 
allowed. Form 8810 is used by personal service corporations and closely 
held corporations to figure the passive activity loss and credits 
allowed and the amount of loss and credit to be reported on their tax 
return.
    Respondents: Business or other for-profit.
    Estimated Number of Respondents/Recordkeepers: 100,000.
    Estimated Burden Hours Per Respondent/Recordkeeper:

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Recordkeeping.............................  26 hr., 19 min.
Learning about the law or the form........  5 hr., 7 min.
Preparing and sending the form to the IRS.  5 hr., 43 min.
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    Frequency of Response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 3,708,000 hours.
    OMB Number: 1545-1683.
    Form Number: IRS Form 56-A (formerly Forms 12575 and 12575-A).
    Type of Review: Revision.
    Title: Notice Concerning Fiduciary Relationship--Illinois Type Land 
Trust.
    Description: The data collected on the form provides trustees of 
Illinois Land Trusts a convenient method of reporting information 
related to creating, changing, and closing such trusts.
    Respondents: Business or other for-profit.
    Estimated Number of Respondents/Recordkeepers: 10,000.
    Estimated Burden Hours Per Respondent/Recordkeeper:

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Recordkeeping.............................  40 min.
Learning about the law or the form........  10 min.
Preparing the form........................  21 min.
Copying, assembling, and sending the form   20 min.
 to the IRS.
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    Frequency of Response: On occasion.
    Estimated Total Reporting/Recordkeeping Burden: 15,100 hours.

    Clearance Officer: Garrick Shear, Internal Revenue Service, Room 
5244, 1111 Constitution Avenue, NW, Washington, DC 20224.
    OMB Reviewer: Alexander T. Hunt (202) 395-7860, Office of 
Management and Budget, Room 10202, New Executive Office Building, 
Washington, DC 20503.

Lois K. Holland,
Departmental Reports, Management Officer.
[FR Doc. 00-13118 Filed 5-24-00; 8:45 am]
BILLING CODE 4830-01-P