37462 Federal Register / Vol. 65, No. 115 / Wednesday, June 14, 2000 / Notices

Public Law 104–13 (44 U.S.C.

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

soliciting comments concerning an

existing final regulation, REG–251985–

96 (TD 8786), Source of Income From

Sales of Inventory Partly From Sources

Within a Possession of the United

States; Also, Source of Income Derived

From Certain Purchases From a

Corporation Electing Section 936

(§ 1.863–3).

DATES: Written comments should be

received on or before August 14, 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 regulation should be

directed to Carol Savage, (202) 622–

3945, Internal Revenue Service, room

5242, 1111 Constitution Avenue NW.,

Washington, DC 20224.

SUPPLEMENTARY INFORMATION:

Title: Source of Income From Sales of

Inventory Partly From Sources Within a

Possession of the United States; Also,

Source of Income Derived From Certain

Purchases From a Corporation Electing

Section 936.

OMB Number: 1545–1556.

Regulation Project Number: REG–

251985–96.

Abstract: Section 1.863–3(f)(6) of this

regulation requires taxpayers to attach a

statement to their tax return furnishing

certain information regarding the

methodology used to determine the

source of their income from cross-border

sales of inventory, and the amount of

income allocated or apportioned to U.S.

or foreign sources in these sales. The

information is used by the IRS to

establish whether the taxpayer

determined the source of its income in

accordance with Code section 863.

Current Actions: There is no change to

this existing regulation.

Type of Review: Extension of a

currently approved collection.

Affected Public: Business or other forprofit organizations.

Estimated Number of Respondents:

200.

Estimated Time Per Respondent: 2

hours, 30 minutes.

Estimated Total Annual Burden

Hours: 500.

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: June 2, 2000.

Garrick R. Shear,

IRS Reports Clearance Officer.

[FR Doc. 00–15039 Filed 6–13–00; 8:45 am]

BILLING CODE 4830–01–U

DEPARTMENT OF THE TREASURY

Internal Revenue Service

Proposed Collection; Comment

Request for Form 5884

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

5884, Work Opportunity Credit.

DATES: Written comments should be

received on or before August 14, 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 Carol Savage,

(202) 622–3945, Internal Revenue

Service, room 5242, 1111 Constitution

Avenue NW., Washington, DC 20224.

SUPPLEMENTARY INFORMATION:

Title: Work Opportunity Credit.

OMB Number: 1545–0219.

Form Number: 5884.

Abstract: Internal Revenue Code

section 38(b)(2) allows a credit against

income tax to employers hiring

individuals from certain targeted groups

such as welfare recipients, etc. The

employer use Form 5884 to compute

this credit. The IRS uses the information

on the form to verify that the correct

amount of credit was claimed.

Current Actions: The order of Part II,

Tax Liability Limit, was revised for this

form. Section 501 of Public Law 106–

170 extended the provision that allows

individuals to offset the regular tax

liability in full for personal credits.

Previously filers were allowed to claim

credits to the extent that the regular tax

liability exceeded the tentative

minimum tax. For tax years beginning

in 2000 and 2001, personal

nonrefundable credits may offset both

the regular tax and the minimum tax.

Also, the computation was changed in

Part II to reflect and to conform to

changes that were made to the tax

computation on Form 1040. A new line

7 was added to show the sum of the

regular tax before credits and the

alternative minimum tax.

Type of Review: Revision of a

currently approved collection.

Affected Public: Individuals or

households, business or other for-profit

organizations, and farms.

Estimated Number of Respondents:

10,630.

Estimated Time Per Response: 9

hours, 34 minutes.

Estimated Total Annual Burden

Hours: 101,729.

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

Federal Register / Vol. 65, No. 115 / Wednesday, June 14, 2000 / Notices 37463

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: June 5, 2000.

Garrick R. Shear,

IRS Reports Clearance Officer.

[FR Doc. 00–15040 Filed 6–13–00; 8:45 am]

BILLING CODE 4830–01–U

DEPARTMENT OF THE TREASURY

Internal Revenue Service

Proposed Collection; Comment

Request for Forms 1042 and 1042–S

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

1042, Annual Withholding Tax Return

for U.S. Source Income of Foreign

Persons, and Form 1042–S, Foreign

Person’s U.S. Source Income Subject to

Withholding.

DATES: Written comments should be

received on or before August 14, 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 1042, Annual

Withholding Tax Return for U.S. Source

Income of Foreign Persons, and Form

1042–S, Foreign Person’s U.S. Source

Income Subject to Withholding.

OMB Number: 1545–0096.

Form Number: 1042 and 1042–S.

Abstract: Form 1042 is used by

withholding agents to report tax

withheld at source on payment of

certain income paid to nonresident alien

individuals, foreign partnerships, or

foreign corporations. The IRS uses this

information to verify that the correct

amount of tax has been withheld and

paid to the United States. Form 1042–

S is used to report certain income and

tax withheld information to nonresident

alien payees and beneficial owners.

Current Actions: There are no major

changes to Form 1042. However, the

following changes are under

consideration for the 2001 Form 1042–

S:

1. Withholding agents will use a

separate Form 1042–S for each type of

FDAP (fixed or determinable, annual or

periodic payment) they report to the IRS

on Copy A of Form 1042–S.

2. New box 8 will be added to reflect

the new reimbursement procedure

outlined in Regulations section 1.1461–

2(a)(2)(i).

3. New boxes 9 and 14, ‘‘TIN type

indicator checkboxes,’’ will be added at

the request of the Information Reporting

Program Advisory Committee.

4. New boxes 17 through 20 will be

added to request identifying information

(i.e., name, country code, address, and

TIN) about nonqualified intermediaries

or flow-through entities (e.g.,

partnerships and certain trusts and

hybrid entities).

5. In an effort to streamline the form,

many of the entry spaces will be

rearranged, renumbered, or changed

from letters to numbers.

Type of Review: Revision of a

currently approved collection.

Affected Public: Business or other for

profit organizations and individuals or

households.

Estimated Number of Respondents:

22,000.

Estimated Time Per Respondent: 40

hours, 43 minutes.

Estimated Total Annual Burden

Hours: 895,840.

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: June 6, 2000.

Garrick R. Shear,

IRS Reports Clearance Officer.

[FR Doc. 00–15041 Filed 6–13–00; 8:45 am]

BILLING CODE 4830–01–U

DEPARTMENT OF THE TREASURY

Internal Revenue Service

Proposed Collection; Comment

Request for Form 1040NR

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