34530 Federal Register / Vol. 65, No. 104 / Tuesday, May 30, 2000 / Notices

DEPARTMENT OF THE TREASURY

Internal Revenue Service

Proposed Collection; Comment

Request for Form 1120S, Schedule D,

and Schedule K–1

AGENCY: Internal Revenue Service (IRS),

Treasury.

ACTION: Notice and request for

comments.

SUMMARY: The Department of the

Treasury, as part of its continuing effort

to reduce paperwork and respondent

burden, invites the general public and

other Federal agencies to take this

opportunity to comment on proposed

and/or continuing information

collections, as required by the

Paperwork Reduction Act of 1995,

Public Law 104–13 (44 U.S.C.

3506(c)(2)(A)). Currently, the IRS is

soliciting comments concerning Form

1120S, U.S. Income Tax Return for an S

Corporation, Schedule D (Form 1120S),

Capital Gains and Losses and Built-In

Gains, and Schedule K–1 (Form 1120S),

Shareholder’s Share of Income, Credits,

Deductions, etc.

DATES: Written comments should be

received on or before July 31, 2000 to be

assured of consideration.

ADDRESSES: Direct all written comments

to Garrick R. Shear, Internal Revenue

Service, room 5244, 1111 Constitution

Avenue NW., Washington, DC 20224.

FOR FURTHER INFORMATION CONTACT:

Requests for additional information or

copies of the forms and instructions

should be directed to Carol Savage,

(202) 622–3945, Internal Revenue

Service, room 5242, 1111 Constitution

Avenue NW., Washington, DC 20224.

SUPPLEMENTARY INFORMATION:

Title: Form 1120S, U.S. Income Tax

Return for an S

Corporation, Schedule D (Form

1120S), Capital Gains and Losses and

Built-In Gains, and Schedule K–1 (Form

1120S), Shareholder’s Share of Income,

Credits, Deductions, etc.

OMB Number: 1545–0130.

Form Number: Form 1120S, Schedule

D, and Schedule K–1.

Abstract: Form 1120S, Schedule D

(Form 1120S), and Schedule

K–1 (Form 1120S) are used by an S

corporation to figure its tax liability, and

income and other tax-related

information to pass through to its

shareholders. Schedule D is used to

report gain or loss from sales or

exchanges of capital assets and the

computation of tax on certain capital

gains imposed by Internal Revenue

Code section 1374. Schedule K–1 is

used to report to shareholders their

share of the corporation’s income,

deductions, credits, etc.

Current Actions: There are no changes

being made to the forms at this time.

Type of Review: Extension of a

currently approved collection.

Affected Public: Business or other forprofit organizations and farms.

Estimated Number of Respondents:

1,880,000.

Estimated Time Per Respondent: 248

hours, 12 minutes.

Estimated Total Annual Burden

Hours: 466,602,460.

The following paragraph applies to all

of the collections of information covered

by this notice:

An agency may not conduct or

sponsor, and a person is not required to

respond to, a collection of information

unless the collection of information

displays a valid OMB control number.

Books or records relating to a collection

of information must be retained as long

as their contents may become material

in the administration of any internal

revenue law. Generally, tax returns and

tax return information are confidential,

as required by 26 U.S.C. 6103.

Request for Comments

Comments submitted in response to

this notice will be summarized and/or

included in the request for OMB

approval. All comments will become a

matter of public record. Comments are

invited on: (a) Whether the collection of

information is necessary for the proper

performance of the functions of the

agency, including whether the

information shall have practical utility;

(b) the accuracy of the agency’s estimate

of the burden of the collection of

information; (c) ways to enhance the

quality, utility, and clarity of the

information to be collected; (d) ways to

minimize the burden of the collection of

information on respondents, including

through the use of automated collection

techniques or other forms of information

technology; and (e) estimates of capital

or start-up costs and costs of operation,

maintenance, and purchase of services

to provide information.

Approved: May 12, 2000.

Garrick R. Shear,

IRS Reports Clearance Officer.

[FR Doc. 00–13337 Filed 5–26–00; 8:45 am]

BILLING CODE 4830–01–U

DEPARTMENT OF THE TREASURY

Internal Revenue Service

Proposed Collection; Comment

Request for Form 8613

AGENCY: Internal Revenue Service (IRS),

Treasury.

ACTION: Notice and request for

comments.

SUMMARY: The Department of the

Treasury, as part of its continuing effort

to reduce paperwork and respondent

burden, invites the general public and

other Federal agencies to take this

opportunity to comment on proposed

and/or continuing information

collections, as required by the

Paperwork Reduction Act of 1995,

Public Law 104–13(44 U.S.C.

3506(c)(2)(A)). Currently, the IRS is

soliciting comments concerning Form

8613, Return of Excise Tax on

Undistributed Income of Regulated

Investment Companies.

DATES: Written comments should be

received on or before July 31, 2000 to be

assured of consideration.

ADDRESSES: Direct all written comments

to Garrick R. Shear, Internal Revenue

Service, room 5244, 1111 Constitution

Avenue NW., Washington, DC 20224.

FOR FURTHER INFORMATION CONTACT:

Requests for additional information or

copies of the form and instructions

should be directed to Larnice Mack,

(202) 622–3179, Internal Revenue

Service, room 5244, 1111 Constitution

Avenue NW., Washington, DC 20224.

SUPPLEMENTARY INFORMATION:

Title: Return of Excise Tax on

Undistributed Income of Regulated

Investment Companies.

OMB Number: 1545–1016.

Form Number: 8613.

Abstract: Form 8613 is used by

regulated investment companies to

compute and pay the excise tax on

undistributed income imposed under

Internal Revenue Code section 4982. IRS

uses the information to verify that the

correct amount of tax has been reported.

Current Actions: There are no changes

being made to the form at this time.

Type of Review: Extension of a

currently approved collection.

Affected Public: Business of other forprofit organizations.

Estimated Number of Respondents:

1,500

Estimated Time Per Respondent: 11

hr., 53 min.

Estimated Total Annual Burden

Hours: 17,835

The following paragraph applies to all

of the collections of information covered

by this notice: