[Federal Register Volume 72, Number 50 (Thursday, March 15, 2007)]
[Notices]
[Pages 12261-12262]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E7-4781]


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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

March 9, 2007.
    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

[[Page 12262]]

Treasury, Room 11000, 1750 Pennsylvania Avenue, NW., Washington, DC 
20220.
    Dates: Written comments should be received on or before April 16, 
2007 to be assured of consideration.

Internal Revenue Service (IRS)

    OMB Number: 1545-1865.
    Type of Review: Extension.
    Title: Notice 2003-75, Registered Retirement Savings Plans (RRSP) 
and Registered Income Funds (RRIF) Information Reporting.
    Description: This notice announces an alternative, simplified 
reporting regime for the owners of certain Canadian Individual 
retirement plans that have been subject to reporting on Forms 3520 and 
3520-A, and it describes the interim reporting rules that taxpayers 
must follow until a new form is available.
    Respondents: Individuals or households.
    Estimated Total Burden Hours: 1,500,000 hours.

    OMB Number: 1545-1555.
    Type of Review: Extension.
    Title: REG-115795-97 (Final) General Rules for Making and 
Maintaining Qualified Electing Fund Elections.
    Description: The regulations provide rules for making section 1295 
elections and satisfying annual reporting requirements for such 
elections, revoking section 1295 elections, and making retroactive 
section 1295 elections.
    Respondents: Businesses and other for-profit institutions.
    Estimated Total Burden Hours: 623 hours.

    OMB Number: 1545-1868.
    Type of Review: Extension.
    Title: REG-116664-01 (NPRM and Temporary) Guidance To Facilitate 
Business Electronic Filing.
    Description: These regulations remove certain impediments to the 
electronic filing of business tax returns and other forms. The 
regulations reduce the number of instances in which taxpayers must 
attach supporting documents to their tax returns. The regulations also 
expand slightly the required content of a statement certain taxpayers 
must submit with their returns to justify deductions for charitable 
contributions.
    Respondents: Businesses and other for-profit institutions.
    Estimated Total Burden Hours: 250,000 hours.

    OMB Number: 1545-0145.
    Type of Review: Extension.
    Title: Notice to Shareholder of Undistributed Long-Term Capital 
Gains.
    Form: 2439.
    Description: Form 2439 is sent by regulated investment companies 
and real estate investment trusts to report undistributed capital gains 
and the amount of tax paid on these gains designated under IRC section 
852(b)(3)(D) or 857(b)(3)(D). The company, the trust, and the 
shareholder file copies of Form 2439 with IRS. IRS uses the information 
to check shareholder compliance.
    Respondents: Businesses and other for-profit institutions.
    Estimated Total Burden Hours: 29,995 hours.

    OMB Number: 1545-1379.
    Type of Review: Extension.
    Title: Excise Taxes on Excess Inclusions of REMIC Residual 
Interests.
    Form: 8831.
    Description: Form 8831 is used by a real estate mortgage investment 
conduit (REMIC) to figure its excise tax liability under Code sections 
860E(e)(1), 860E(e)(6), and 860E(e)(7). IRS uses the information to 
determine the correct tax liability of the REMIC.
    Respondents: Businesses or other for-profit institutions.
    Estimated Total Burden Hours: 237 hours.

    OMB Number: 1545-0045.
    Type of Review: Extension.
    Title: Claim for Deficiency Dividends Deductions by a Personal 
Holding Company, Regulated Investment Company, or Real Estate 
Investment Trust.
    Form: 976.
    Description: Form 976 is filed by corporations that wish to claim a 
deficiency dividend deduction. The deduction allows the corporation to 
eliminate all or a portion of a tax deficiency. The IRS uses Form 976 
to determine if shareholders have included amounts in gross income.
    Respondents: Businesses and other for-profit institutions.
    Estimated Total Burden Hours: 3,830 hours.

    OMB Number: 1545-1813.
    Type of Review: Extension.
    Title: Health Coverage Tax Credit (HCTC) Advance Payments.
    Form: 1099-H.
    Description: Form 1099-H is used to report advance payments of 
health insurance premiums to qualified recipients for their use in 
computing the allowable health insurance credit on Form 8885.
    Respondents: Businesses and other for-profit institutions.
    Estimated Total Burden Hours: 33,000 hours.

    OMB Number: 1545-0044.
    Type of Review: Extension.
    Title: Corporation Claim for Deduction for Consent Dividends.
    Form: 973.
    Description: Corporations file Form 973 to claim a deduction for 
dividends paid. If shareholders consent and IRS approves, the 
corporation may claim a deduction for dividends paid, which reduces the 
corporation's tax liability. IRS uses Form 973 to determine if 
shareholders have included the dividend in gross income.
    Respondents: Businesses or other for-profit institutions.
    Estimated Total Burden Hours: 2,210 hours.

    OMB Number: 1545-0755.
    Type of Review: Extension.
    Title: LR-58-83 (Final) Related Group Election With Respect to 
Qualified Investments in Foreign Base Company Shipping Operations.
    Description: The election described in the attached justification 
converted an annual election to an election effective until revoked. 
The computational information required is necessary to assure that the 
U.S. shareholder correctly reports any shipping income of its 
controlled foreign corporations which is taxable to that shareholder.
    Respondents: Businesses or other for-profit institutions.
    Estimated Total Burden Hours: 205 hours.
    Clearance Officer: Glenn P. Kirkland, (202) 622-3428, Internal 
Revenue Service, Room 6516, 1111 Constitution Avenue, NW., Washington, 
DC 20224.
    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. E7-4781 Filed 3-14-07; 8:45 am]
BILLING CODE 4830-01-P