Federal Register / Vol. 72, No. 66 / Friday, April 6, 2007 / Notices 17225 

(d) Ways to minimize the burden of 

the collection on respondents, including 

through the use of automated collection 

techniques or other forms of information 

technology; and 

(e) Estimates of capital or startup costs 

and cost of operation, maintenance, and 

purchase of services to provide 

information. 

Dated: March 30, 2003. 

Stuart Feldstein, 

Assistant Director, Legislative and Regulatory 

Activities Division. 

[FR Doc. E7–6419 Filed 4–5–07; 8:45 am] 

BILLING CODE 4810–33–P 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

Proposed Collection; Comment 

Request for Form 970 

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 

970, Application To Use LIFO Inventory 

Method. 

DATES: Written comments should be 

received on or before June 5, 2007 to be 

assured of consideration. 

ADDRESSES: Direct all written comments 

to Glenn P. Kirkland Internal Revenue 

Service, room 6516, 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 R. Joseph Durbala 

at Internal Revenue Service, room 6516, 

1111 Constitution Avenue, NW., 

Washington, DC 20224, or at (202) 622–

3634, or through the internet at 

RJoseph.Durbala@irs.gov. 

SUPPLEMENTARY INFORMATION: 

Title: Application To Use LIFO 

Inventory Method. 

OMB Number: 1545–0042. 

Form Number: Form 970. 

Abstract: Form 970 is filed by 

individuals, partnerships, trusts, estates, 

or corporations to elect to use the lastin first-out (LIFO) inventory method or 

to extend the LIFO method to additional 

goods. The IRS uses Form 970 to 

determine if the election was properly 

made. 

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 or other forprofit organizations and individual or 

households. 

Estimated Number of Respondents: 

2000. 

Estimated Time Per Respondent: 12 

hours, 24 minutes. 

Estimated Total Annual Burden 

Hours: 24,800. 

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: March 27, 2007. 

Glenn P. Kirkland, 

IRS Reports Clearance Officer. 

[FR Doc. E7–6397 Filed 4–5–07; 8:45 am] 

BILLING CODE 4830–01–P 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

Proposed Collection; Comment 

Request for Form 1099–INT 

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 

1099–INT, Interest Income. 

DATES: Written comments should be 

received on or before June 5, 2007 to be 

assured of consideration. 

ADDRESSES: Direct all written comments 

to Glenn P. Kirkland, Internal Revenue 

Service, room 6516, 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 R. Joseph Durbala, 

at (202) 622–3634, or at Internal 

Revenue Service, room 6516, 1111 

Constitution Avenue, NW., Washington, 

DC 20224, or through the Internet, at 

RJoseph.Durbala@irs.gov. 

SUPPLEMENTARY INFORMATION: 

Title: Interest Income. 

OMB Number: 1545–0112. 

Form Number: 1099–INT. 

Abstract: Form 1099–INT is used for 

reporting interest income paid, as 

required by sections 6049 and 6041 of 

the Internal Revenue Code. The IRS uses 

the form to verify compliance with the 

reporting rules and to verify that the 

recipient has included the proper 

amount of interest on his or her income 

tax return. 

Current Actions: Two lines have been 

added to the form since the last 

submission for approval. 

Type of Review: Revision of a 

currently approved collection. 

Affected Public: Business or other forprofit organizations, Federal 

Government, individuals or households, 

and not-for-profit institutions. 

Estimated Number of Responses: 

275,797,664. 

Estimated Time Per Response: 14 

minutes. 

Estimated Total Annual Burden 

Hours: 63,223,463. 


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