[Federal Register Volume 65, Number 117 (Friday, June 16, 2000)]
[Notices]
[Pages 37830-37831]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 00-15238]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Form 990-W

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

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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 990-W, Estimated Tax on Unrelated Business Taxable Income for Tax-
Exempt Organizations.

DATES: Written comments should be received on or before August 15, 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: Estimated Tax on Unrelated Business Taxable Income for Tax-
Exempt Organizations.
    OMB Number: 1545-0976.
    Form Number: 990-W.
    Abstract: Form 990-W is used by tax-exempt trusts and tax-exempt 
corporations to figure estimated tax liability on unrelated business 
income and on investment income for private foundations and the amount 
of each installment payment. Form 990-W is a worksheet only. It is not 
required to be filed.
    Current Actions: Because of section 501 of the Tax Relief Extension 
Act of 1999 (Public Law 106-170), beginning in tax year 2000 the 
aggregate amounts of credits allowed under Subtitle A, Chapter 1, 
Subchapter A, Part IV, Subpart A of the Internal Revenue Code, will 
offset both a corporation's regular tax liability and its minimum tax. 
Because of this law change, Line 6 (alternative minimum tax) is being 
relocated to Line 3 and a new total line (Line 4) is being added so 
taxpayers can determine their total tax before applying their estimated 
tax credits. The other lines will be renumbered to reflect these 
changes.
    Type of Review: Revision of a currently approved collection.
    Affected Public: Not-for-profit institutions and business or other 
for-profit organizations.
    Estimated Number of Respondents: 27,265.
    Estimated Time per Respondent: 14 hours, 13 minutes.
    Estimated Total Annual Burden Hours: 387,749.

    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

[[Page 37831]]

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 8, 2000.
Garrick R. Shear,
IRS Reports Clearance Officer.
[FR Doc. 00-15238 Filed 6-15-00; 8:45 am]
BILLING CODE 4830-01-P