[Federal Register Volume 62, Number 178 (Monday, September 15, 1997)]
[Notices]
[Pages 48336-48338]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-24316]


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DEPARTMENT OF THE TREASURY


Submission to OMB for Review; Comment Request

September 5, 1997.
    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, Pub. L. 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 
2110, 1425 New York Avenue, NW., Washington, DC 20220.

Internal Revenue Service (IRS)

    OMB Number: 1545-0090.
    Form Number: IRS Forms 1040-SS, 1040-PR, and Anejo H-PR (Form 1040-
PR).
    Type of Review: Extension.
    Title: U.S. Self-Employment Tax Return (1040-SS);
    Planilla Para La Declaracion De La Contribucion Federal Sobre El 
Trabajo Por Cuenta Propia-Puerto Rico (1040-PR); and
    Contribuciones Sobre El Empleo De Empleados Domesticos (Anejo H-
PR).
    Description: Form 1040-SS (Virgin Islands, Guam, American Samoa, 
and the Northern Mariana Islands) and 1040-PR (Puerto Rico) are used by 
self-employed individuals to figure and report self-employment tax 
under Internal Revenue Code (IRC) chapter 2 of Subtitle A, and provide 
credit to the taxpayer's social security account. Anejo H-PR (Form 
1040-PR) is used to compute household employment taxes.
    Respondents: Individuals or households, Business or other for-
profit, Farms.
    Estimated Number of Respondents/Recordkeepers: 56,400.
    Estimated Burden Hours Per Respondent/Recordkeeper:

[[Page 48337]]



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                                                                  Learning about the law of                                   Copying, assembling, and  
              Form                        Recordkeeping                   the form                 Preparing the form        sending the form to the IRS
--------------------------------------------------------------------------------------------------------------------------------------------------------
1040-SS.........................  7 hr., 19 min...............  24 min......................  2 hr., 36 min...............  49 min.                     
1040-PR.........................  6 hr., 46 min...............  37 min......................  2 hr., 23 min...............  49 min.                     
Anejo H-PR (Form 1040-PR).......  33 min......................  37 min......................  44 min......................  35 min.                     
--------------------------------------------------------------------------------------------------------------------------------------------------------

    Frequency of Response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 581, 052 hours.

    OMB Number: 1545-0118.
    Form Number: IRS Form 1099-PATR.
    Type of Review: Extension.
    Title: Taxable Distributions Received From Cooperatives.
    Description: Form 1099-PATR is used to report patronage dividends 
paid by cooperatives (Internal Revenue Code (IRC) section 6044). The 
information is used by IRS to verify reporting compliance on the part 
of the recipient.
    Respondents: Business or other for-profit.
    Estimated Number of Respondents/Recordkeepers: 4,200.
    Estimated Burden Hours Per Respondent/Recordkeeper: 11 minutes.
    Frequency of Response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 372,615 hours.

    OMB Number: 1545-0140.
    Form Number: IRS Forms 2210 and 2210-F.
    Type of Review: Extension.
    Title: Underpayment of Estimated Tax by Individuals, Estates and 
Trusts (2110); and Underpayment of Estimated Tax by Farmers and 
Fishermen (2210-F).
    Description: Internal Revenue Code section 6654 imposes a penalty 
for failure to pay estimated tax. These forms are used by taxpayers to 
determine whether they are subject to the penalty and to compute the 
penalty if it applies. The Service uses this information to determine 
whether the taxpayer is subject to the penalty, and to verify the 
penalty amount.
    Respondents: Individuals or households, Business or other for-
profit, Farms.
    Estimated Number of Respondents/Recordkeepers: 900,000.
    Estimated Burden Hours Per Respondent/Recordkeeper:

--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                  Learning about the law of                                   Copying, assembling, and  
              Form                        Recordkeeping                   the form                 Preparing the form        sending the form to the IRS
--------------------------------------------------------------------------------------------------------------------------------------------------------
2210 Short......................  7 min.......................  5 min.......................  29 min......................  20 min                      
2210 Long.......................  13 min......................  40 min......................  2 hr., 15 min...............  46 min                      
2210-F..........................  33 min......................  10 min......................  20 min......................  20 min                      
--------------------------------------------------------------------------------------------------------------------------------------------------------

    Frequency of Response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 2,520,000 hours.

    OMB Number: 1545-0142.
    Form Number: IRS Form 2220.
    Type of Review: Extension.
    Title: Underpayment of Estimated Tax by Corporations.
    Description: Form 2220 is used by corporations to determine whether 
they are subject to the penalty for underpayment of estimated tax and, 
if so, the amount of the penalty. The IRS uses Form 2220 to determine 
if the penalty was correctly computed.
    Respondents: Business or other for-profit.
    Estimated Number of Respondents/Recordkeepers: 702,000.
    Estimated Burden Hours Per Respondent/Recordkeeper:

--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                      Preparing and sending the form to 
                 Form                              Recordkeeping               Learning about the law or the form                  the IRS              
--------------------------------------------------------------------------------------------------------------------------------------------------------
2220.................................  28 hr., 13 min.......................  1 hr., 0 min........................  1 hr., 30 min.                      
2220, Sched A, Part I................  11 hr., 14 min.......................  12 min..............................  23 min.                             
2220, Sched A, Part II...............  23 hr., 26 min.......................  ....................................  23 min.                             
2220, Sched A, Part III..............  5 hr., 16 min........................  ....................................  5 min.                              
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    Frequency of Response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 21,617,627 hours.

    OMB Number: 1545-0175.
    Form Number: IRS Form 4626.
    Type of Review: Extension.
    Title: Alternative Minimum Tax--Corporations.
    Description: Form 4626 is used by corporations to calculate their 
alternative minimum tax.
    Respondents: Business or other for-profit.
    Estimated Number of Respondents/Recordkeepers: 100,000.
    Estimated Burden Hours Per Respondent/Recordkeeper:

[[Page 48338]]



----------------------------------------------------------------------------------------------------------------
                                                            Learning about the law or  Preparing and sending the
             Form                      Recordkeeping                 the form               form to the IRS     
----------------------------------------------------------------------------------------------------------------
Form 4626.....................  18 hr., 25 min............  14 hr., 42 min...........  15 hr., 39 min.          
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    Frequency of Response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 4,876,000 hours.

    OMB Number: 1545-0935.
    Form Number: IRS Form 1120-FSC and Schedule P (Form 1120-FSC).
    Type of Review: Revision.
    Title: U.S. Income Tax Return of a Foreign Sales Corporation (1120-
FSC); and Transfer Price or Commission (Schedule P).
    Description: Form 1120-FSC is filed by foreign corporations that 
have elected to be FSCs or small FSCs. The FSC uses Form 1120-FSC to 
report income and expenses and to figure its tax liability. IRS uses 
Form 1120-FSC and Schedule P (Form 1120-FSC) to determine whether the 
FSC has correctly reported its income and expenses and figured its tax 
liability correctly.
    Respondents: Business or other for-profit.
    Estimated Number of Respondents/Recordkeepers: 5,000.
    Estimated Burden Hours Per Respondent/Recordkeeper:

----------------------------------------------------------------------------------------------------------------
                                                            Learning about the law or  Preparing and sending the
             Form                      Recordkeeping                 the form               form to the IRS     
----------------------------------------------------------------------------------------------------------------
1120-FSC......................  92 hr., 33 min............  17 hr., 54 min...........  35 hr., 47 min.          
Schedule P (1120-FSC).........  9 hr., 34 min.............  1 hr., 29 min............  1 hr., 43 min.           
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    Frequency of Response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 1,050,650 hours.

    OMB Number: 1545-0975.
    Form Number: IRS Form 1120-W.
    Type of Review: Extension.
    Title: Estimated Tax for Corporations.
    Description: Form 1120-W is used by corporations to figure 
estimated tax liability and the amount of each installment payment. 
Form 1120-W is a worksheet only. It is not to be filed with the 
Internal Revenue Service.
    Respondents: Business or other for-profit.
    Estimated Number of Respondents/Recordkeepers: 900,000.
    Estimated Burden Hours Per Respondent/Recordkeeper:

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                                                            Learning about the law or                           
             Form                      Recordkeeping                 the form              Preparing the form   
----------------------------------------------------------------------------------------------------------------
1120-W........................  7 hr., 25 min.............  1 hr., 53 min............  2 hr., 5 min             
1120-W, Schedule A (Pt. I)....  11 hr., 14 min............  12 min...................  23 min.                  
1120-W, Schedule A (Pt. II)...  23 hr., 26 min............  .........................  23 min.                  
1120-W, Schedule A (Pt. III)..  5 hr., 16 min.............  .........................  5 min.                   
----------------------------------------------------------------------------------------------------------------

    Frequency of Response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 10,303,188 hours.
    Clearance Officer: Garrick Shear (202) 622-3869, Internal Revenue 
Service, Room 5571, 1111 Constitution Avenue, NW, Washington, DC 20224.
    OMB Reviewer: Alexander T. Hunt (202) 395-7860, Office of 
Management and Budget, Room 10226, New Executive Office Building, 
Washington, DC 20503.
Lois K. Holland,
Departmental Reports Management Officer.
[FR Doc. 97-24316 Filed 9-12-97; 8:45 am]
BILLING CODE 4830-01-P