44034 Federal Register / Vol. 62, No. 159 / Monday, August 18, 1997 / Notices

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: August 12, 1997.

Garrick R. Shear,

IRS Reports Clearance Officer.

[FR Doc. 97–21830 Filed 8–15–97; 8:45 am]

BILLING CODE 4830–01–P

DEPARTMENT OF THE TREASURY

Internal Revenue Service

[LR–311–81]

Proposed Collection; Comment

Request for Regulation Project

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, Pub.

L. 104–13 (44 U.S.C. 3506(c)(2)(A)).

Currently, the IRS is soliciting

comments concerning an existing final

regulation, LR–311–81 (T.D. 7925),

Penalties for Underpayment of Deposits

and Overstated Deposit Claims, and

Time For Filing Information Returns of

Owners, Officers and Directors of

Foreign Corporations (§§ 1.6046–1,

301.6656–1, and 301.6656–2).

DATES: Written comments should be

received on or before October 17, 1997

to be assured of consideration.

ADDRESSES: Direct all written comments

to Garrick R. Shear, Internal Revenue

Service, room 5571, 1111 Constitution

Avenue NW., Washington, DC 20224.

FOR FURTHER INFORMATION CONTACT:

Requests for additional information or

copies of the information collection

should be directed to Carol Savage,

(202) 622–3945, Internal Revenue

Service, room 5569, 1111 Constitution

Avenue NW., Washington, DC 20224.

SUPPLEMENTARY INFORMATION:

Title: Penalties for Underpayment of

Deposits and Overstated Deposit Claims,

and Time For Filing Information

Returns of Owners, Officers and

Directors of Foreign Corporations.

OMB Number: 1545–0794.

Regulation Project Number: LR–311–

81.

Abstract: These regulations relate to

the penalty for underpayment of

deposits and the penalty for overstated

deposit claims, and to the time for filing

information returns of owners, officers

and directors of foreign corporations.

Internal Revenue Code section 6046

requires information returns with

respect to certain foreign corporations,

and the regulations provide the date by

which these returns must be filed. Code

section 6656 provides penalties with

respect to failure to properly satisfy tax

deposit obligations, and the regulations

provide the method for applying for

relief from these penalties.

Current Actions: There is no change to

this existing regulation.

Type of Review: Extension of a

currently approved collection.

Affected Public: Individuals or

households, and business or other forprofit organizations.

Estimated Number of Respondents:

60,000.

Estimated Time Per Respondent: 30

minutes.

Estimated Total Annual Burden

Hours: 30,000.

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: August 12, 1997.

Garrick R. Shear,

IRS Reports Clearance Officer.

[FR Doc. 97–21831 Filed 8–15–97; 8:45 am]

BILLING CODE 4830–01–P

DEPARTMENT OF THE TREASURY

Internal Revenue Service

[REG–208165–91; REG–209035–86]

Proposed Collection; Comment

Request for Regulation Project

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, Pub.

L. 104–13 (44 U.S.C. 3506(c)(2)(A)).

Currently, the IRS is soliciting

comments concerning an existing notice

of proposed rulemaking, REG–208165–

91 (formerly INTL–54–91) and REG–

209035–86 (formerly INTL–178–86),

Transfers of Stock on Securities by U.S.

Persons to Foreign Corporations, and

Foreign Liquidations and

Reorganizations (§§ 1.367(a) and

1.367(b)).

DATES: Written comments should be

received on or before October 17, 1997

to be assured of consideration.

ADDRESSES: Direct all written comments

to Garrick R. Shear, Internal Revenue

Service, room 5571, 1111 Constitution

Avenue NW., Washington, DC 20224.

FOR FURTHER INFORMATION CONTACT:

Requests for additional information or

copies of the information collection

should be directed to Carol Savage,

(202) 622–3945, Internal Revenue

Service, room 5569, 1111 Constitution

Avenue NW., Washington, DC 20224.