[Federal Register Volume 72, Number 89 (Wednesday, May 9, 2007)]
[Notices]
[Pages 26450-26452]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E7-8881]


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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

May 3, 2007.
    The Department of the 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 Treasury, Room 
11000, 1750 Pennsylvania Avenue, NW., Washington, DC 20220.
    Dates: Written comments should be received on or before June 8, 
2007 to be assured of consideration.

Internal Revenue Service (IRS)

    OMB Number: 1545-1226.
    Type of Review: Extension.
    Title: FI-59-89 (Final) Proceeds of Bonds used for Reimbursement.
    Description: The rule requires record maintenance by a state or 
local government or section 501(c)(3) organization issuing tax-exempt 
bonds (``Issuer'') to reimburse itself for previously-paid expenses. 
This recordkeeping will establish that the issuer had an intent, when 
it paid an expense, to later issue a reimbursement bond.
    Respondents: State, local, or tribal governments.
    Estimated Total Burden Hours: 6,000 hours.
    OMB Number: 1545-1708.
    Type of Review: Extension.
    Title: Publication 1345, Handbook for Authorized IRS e-file 
Providers.
    Description: Publication 1345 informs those who participate in the 
IRS e-file Program for Individual Income Tax Returns of their 
obligations to the Internal Revenue Service, taxpayers, and other 
participants.
    Respondents: Businesses and other for-profit institutions.
    Estimated Total Burden Hours: 3,636,463 hours.

    OMB Number: 1545-1734.
    Type of Review: Extension.
    Title: Terminal Operator Report.
    Form: 720-TO.
    Description: Representatives of the motor fuel industry, state 
governments, and the Federal government are working to ensure 
compliance with excise taxes on motor fuels. This joint effort has 
resulted in a system to track the movement of all products to and from 
terminals. Form 720-TO is an information return that will be used by 
terminal operators to report their monthly receipts and disbursements 
of products.
    Respondents: Businesses or other for-profit institutions.
    Estimated Total Burden Hours: 2,347,020 hours.

    OMB Number: 1545-1296.
    Type of Review: Extension.
    Title: PS-27-91 (Final) Procedural Rules for Excise Taxes Currently 
Reportable on Form 720, PS-8-95 (Final) Deposits of Excise Taxes.
    Description: Section 6302(c) authorizes the use of Government 
depositaries. These regulations provide reporting and recordkeeping 
rules relating to the use of Government depositaries for taxes imposed 
by chapter 33 of the Code.
    Respondents: Business and other for-profit institutions.
    Estimated Total Burden Hours: 242,350 hours.

    OMB Number: 1545-1850.
    Type of Review: Extension.
    Title: REG-105885-99 (Final), Compensation Deferred Under Eligible 
Deferred Compensation Plans.
    Description: REG-105885-99 provides guidance regarding the trust 
requirements for certain eligible deferred compensation plans enacted 
in the Small Business Job Protection Act of 1996.
    Respondents: State, Local, and Tribal Governments.
    Estimated Total Burden Hours: 10,600 hours.

    OMB Number: 1545-1461.
    Type of Review: Extension.
    Title: INTL-24-94 (Final) Taxpayer Identifying Numbers (TINs).
    Description: This regulation relates to requirements for furnishing 
a taxpayer identifying number on returns, statements, or other 
documents. Procedures are provided for requesting a taxpayer 
identifying number for certain alien individuals for whom a social 
security number is not available. The regulation also requires foreign 
persons to furnish a taxpayer identifying number on their tax returns.
    Respondents: Individuals or households.
    Estimated Total Burden Hours: 1 hours.

    OMB Number: 1545-1117.
    Type of Review: Extension.
    Title: Notice 89-61, Imported Substances; Rules for Filing a 
Petition.
    Description: The notice sets forth procedures to be followed in 
petitioning the Secretary to modify the list of taxable substances in 
section 4672(a)(3).
    Respondents: Businesses or other for-profit institutions.
    Estimated Total Burden Hours: 100 hours.

    OMB Number: 1545-0041.
    Type of Review: Extension.
    Title: Corporation Dissolution or Liquidation.
    Form: 966.
    Description: Form 966 is filed by a corporation whose shareholders 
have agreed to liquidate the corporation. As a result of the 
liquidation, the

[[Page 26451]]

shareholders receive the property of the corporation in exchange for 
their stock. The IRS uses Form 966 to determine if the liquidation 
election was properly made and if any taxes are due on the transfers of 
property.
    Respondents: Businesses or other for-profit institutions.
    Estimated Total Burden Hours: 159,120 hours.

    OMB Number: 1545-1595.
    Type of Review: Extension.
    Title: Revenue Procedure 98-25, Automatic Data Processing.
    Description: Processing System (ADP). If machine-sensible records 
are lost, stolen, destroyed, or materially inaccurate, the Rev. Proc. 
requires that a taxpayer promptly notify its District Director and 
submit a plan to replace the affected records. The District Director 
will notify the taxpayer of any objection(s) to the taxpayer's plan.
    Respondents: Businesses or other for-profit institutions.
    Estimated Total Burden Hours: 120,000 hours.

    OMB Number: 1545-2040.
    Type of Review: Extension.
    Title: Revenue Procedure Granting Automatic Consent to change 
certain elections relating to the apportionment of interest expense and 
research and experimental expenditures.
    Description: This revenue procedure provides the administrative 
procedure under which a taxpayer may obtain automatic consent to change 
(a) from the fair market value method under Sec.  1.861-8T(c)(2) or 
from the alternative tax book value method under Sec.  1.861-9(i)(1) to 
apportion interest expense or (b) from the sales method or the optional 
gross income methods under Sec.  1.861-17(c) and (d) to apportion 
research and experimental expenditures. The reporting and recordkeeping 
requirements imposed by this revenue procedure will enable the IRS to 
identify eligibility to use the procedure and the years for which the 
new method or methods is being adopted.
    Respondents: Businesses or other for-profit institutions.
    Estimated Total Burden Hours: 100 hours.

    OMB Number: 1545-0908.
    Type of Review: Revision.
    Title: Form 8282, Donee Information Return (Sale, Exchange or Other 
Disposition of Donated Property); Form 8283, Noncash Charitable 
Contributions.
    Form: 8282, 8283.
    Description: Internal Revenue Code section 170(a)(1) and regulation 
section 1.170A-13(c) require donors of property valued over $5,000 to 
file certain information with their tax return in order to receive the 
charitable contribution deduction. Form 8283 is used to report the 
required information. Code section 6050L requires donee organizations 
to file an information return with the IRS if they dispose of the 
property received within two years. Form 8282 is used for this purpose.
    Respondents: Individuals or households.
    Estimated Total Burden Hours: 7,805,692 hours.

    OMB Number: 1545-1733.
    Type of Review: Extension.
    Title: Carrier Summary Report.
    Form: 720-CS.
    Description: Representatives of the motor fuel industry, state 
governments, and the Federal government are working to ensure 
compliance with excise taxes on motor fuels. This joint effort has 
resulted in a system to track the movement of all products to and from 
terminals. Form 720-CS is an information return that will be used by 
carriers to report their monthly deliveries and receipts of products to 
and from terminals.
    Respondents: Businesses and other for-profit institutions.
    Estimated Total Burden Hours: 183,027 hours.

    OMB Number: 1545-0704.
    Type of Review: Revision.
    Title: Information Return of U.S. Persons with Respect To Certain 
Foreign Corporations.
    Form: 5471.
    Description: Form 5471 and related schedules are used by U.S. 
persons that have an interest in a foreign corporation. The form is 
used to report income from the foreign corporation. The form and 
schedules are used to satisfy the reporting requirements of sections 
6035, 6038 and 6046 and the regulations thereunder pertaining to the 
involvement of U.S. persons with certain foreign corporations.
    Respondents: Businesses or other for-profit institutions.
    Estimated Total Burden Hours: 4,045,343 hours.

    OMB Number: 1545-1736.
    Type of Review: Extension.
    Title: Revenue Procedure 2001-24, Advanced Insurance Commissions.
    Description: Insurance companies that want to obtain automatic 
consent to change their method of accounting for cash advances that 
qualify as loans to their agents must attach a statement to their 
federal income tax return.
    Respondents: Businesses and other for-profit institutions.
    Estimated Total Burden Hours: 1,318 hours.

    OMB Number: 1545-1872.
    Type of Review: Extension.
    Title: Request for Transcript of Tax Return.
    Form: 4506-T.
    Description: 26 U.S.C. 7513 allows for taxpayers to request a copy 
of a tax return or return information. Form 4506-T is used by a 
taxpayer to request a copy of a Federal Tax information, other than a 
return. The information provided will be used to search the taxpayer's 
account and provide the requested information; and to ensure that the 
requester is the taxpayer or someone authorized by the taxpayer.
    Respondents: Individuals or households.
    Estimated Total Burden Hours: 555,600 hours.

    OMB Number: 1545-1578.
    Type of Review: Extension.
    Title: REG-106542-98 (Final), Election to Treat Trust as Part of an 
Estate.
    Description: REG-106542-98 and Rev. Proc. 98-13 relate to an 
election to have certain revocable trusts treated and taxed as part of 
an estate, and provides the procedures and requirements for making the 
section 645 election.
    Respondents: Individuals or households.
    Estimated Total Burden Hours: 5,000 hour.

    OMB Number: 1545-1577.
    Type of Review: Extension.
    Title: REG-109704-97 (NPRM) HIPAA Mental Health Parity Act; 
(Temporary) Interim Rules for Mental Health Parity.
    Description: The regulations provide guidance for group health 
plans with mental health benefits about requirements relating to parity 
in the dollar limits imposed on mental health benefits and medical/
surgical benefits.
    Respondents: Businesses or other for-profit institutions.
    Estimated Total Burden Hours: 3,280 hours.

    OMB Number: 1545-1873.
    Type of Review: Extension.
    Title: Revenue Procedure 2004-15, Waivers of Minimum Funding 
Standards.
    Description: This revenue procedure describes the process for 
obtaining a waiver from the minimum funding standards set forth in 
section 412 of the Code.
    Respondents: Businesses or other for-profit institutions.
    Estimated Total Burden Hours: 4,730 hours.

    OMB Number: 1545-2043.
    Type of Review: Extension.
    Title: Form 8879-B, IRS e-file Signature Authorization for Form 
1065-B.

[[Page 26452]]

    Form: 8879-B.
    Description: Tax year 2006 is the first year that filers of Form 
1065-B (electing large partnerships) can file electronically. Form 
8879-B is used when a personal identification number (PIN) will be used 
to electronically sign the electronic tax return, and, if applicable, 
consent to an electronic funds withdrawal.
    Respondents: Businesses or other for-profit institutions.
    Estimated Total Burden Hours: 258 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. E7-8881 Filed 5-8-07; 8:45 am]
BILLING CODE 4830-01-P