[Federal Register Volume 62, Number 178 (Monday, September 15, 1997)]
[Notices]
[Pages 48335-48336]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-24315]


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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.

[[Page 48336]]

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: 1545-0217
    Form Number: IRS Forms 5735 and Schedule P (Form 5735).
    Type of Review: Extension.
    Title: Possessions Corporation Tax Credit (Under Sections 936 and 
30A) (5735); and Allocation of Income and Expenses Under Section 
936(h)(5) (Schedule P).
    Description: Form 5735 is used to compute the possessions tax 
credit under sections 936 and 30A. Schedule P is used by corporations 
that elect to share the income or expenses with their affiliates. Each 
form provides the IRS with information to determine if the corporations 
have correctly computed the tax credit and the cost-sharing or profit-
split method.
    Respondents: Business or other for-profit.
    Estimated Number of Respondents/Recordkeepers: 1,371.
    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
--------------------------------------------------------------------------------------------------------------------------------------------------------
5735............................  20 hr., 34 min..............  3 hr., 38 min...............  5 hr., 4 min................  16 min.                     
Schedule P (5735)...............  10 hr., 2 min...............  1 hr., 56 min...............  4 hr., 2 min................  32 min.                     
--------------------------------------------------------------------------------------------------------------------------------------------------------

    Frequency of Response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 32,713 hours.

    OMB Number: 1545-1016.
    Form Number: IRS Form 8613.
    Type of Review: Extension.
    Title: Return of Excise Tax on Undistributed Income of Regulated 
Investment Companies.
    Description: Form 8613 is used by regulated investment companies to 
compute and pay the excise tax on undistributed income imposed under 
section 4982. IRS uses the information to verify that the correct 
amount of tax has been reported.
    Respondents: Business or other for-profit.
    Estimated Number of Respondents/Recordkeepers: 1,500.
    Estimated Burden Hours Per Respondent/Recordkeeper:

------------------------------------------------------------------------
                                       Learning about                   
       Form          Recordkeeping     the law or the     Preparing and 
                                            form        sending the form
------------------------------------------------------------------------
5735.............    6 hr., 42 min      2 hr., 29 min    2 hr., 43 min. 
------------------------------------------------------------------------

    Frequency of Response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 17,835 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. 97-24315 Filed 9-12-97; 8:45 am]
BILLING CODE 4830-01-P