52378 Federal Register / Vol. 62, No. 194 / Tuesday, October 7, 1997 / Notices

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: 154–0096.

Form Number: IRS Forms 1042 and

1042–S.

Type of Review: Revision.

Title: Annual Withholding Tax Return

for U.S. Source of Income of Foreign

Persons (1042); and Foreign Person’s

U.S. Source of Income Subject to

Withholding.

Description: Form 1042 is used by

withholding agents to report tax

withheld at source on certain income

paid to nonresident alien individuals,

foreign partnerships, and foreign

corporations to the IRS. Form 1042–S is

used by withholding agents to report

income and tax withheld to payees. A

copy of each Form 1040–S is filed

magnetically or with Form 1042 for

information reporting purposes. The IRS

uses this information to verify that the

correct amount of tax has been withheld

and paid to the United States.

Respondents: Business or other forprofit, Individuals or households.

Estimated Number of Respondents/

Recordkeepers: 22,000.

Estimated Burden Hours Per

Respondent/Recordkeeper:

Form Recordkeeping Learning about the law or

the form Preparing the form

Copying, assembling, and sending

the form to the IRS

1042 ..................................... 10 hr., 31 min ....................... 2 hr., 8 min ........................... 4 hr., 15 min ......................... 32 min.

4720 ..................................... 5 hr., 1 min ........................... 3 hr., 33 min ......................... 4 hr., 43 min ......................... 16 min.

Frequency of Response: Annually.

Estimated Total Reporting/

Recordkeeping Burden: 22,063,680

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. 97–26467 Filed 10–6–97; 8:45 am]

BILLING CODE 4830–01–P

DEPARTMENT OF THE TREASURY

Departmental Office; Debt

Management Advisory Committee;

Meeting

Notice is hereby given, pursuant to 5

U.S.C. App. § 10(a)(2), that a meeting

will be held at the U.S. Treasury

Department, 15th and Pennsylvania

Avenue, N.W., Washington, D.C., on

October 28 and 29, 1997, of the

following debt management advisory

committee: The Bond Market Trade

Association, Treasury Borrowing

Advisory Committee.

The agenda for the meeting provides

for a technical background briefing by

Treasury staff on October 28, followed

by a charge by the Secretary of the

Treasury or his designate that the

committee discuss particular issues, and

a working session. On October 29, the

committee will present a written report

of its recommendations.

The background briefing by Treasury

staff will be held at 11:30 a.m. Eastern

time on October 28 and will be open to

the public. The remaining sessions on

October 28 and the committee’s

reporting session on October 29, will be

closed to the public pursuant to 5 U.S.C.

App. § 10(d).

This notice shall constitute my

determination, pursuant to the authority

placed in heads of departments by 5

U.S.C. App. § 10(d) and vested in me by

the Treasury Department Order No.

101–05, that the closed portions of the

meeting are concerned with information

that is exempt from disclosure under 5

U.S.C. § 552b(c)(9)(A). The public

interest requires that such meetings be

closed to the public because the

Treasury Department requires frank and

full advice from representatives of the

financial community prior to making its

final decision on major financing

operations. Historically, this advice has

been offered by debt management

advisory committees established by the

several major segments of the financial

community. When so utilized, such a

committee is recognized to be an

advisory committee under 5 U.S.C. App.

§ 3.

Although the Treasury’s final

announcement of financing plans may

not reflect the recommendations

provided in reports of the advisory

committee, premature disclosure of the

committee’s deliberations and reports

would be likely to lead to significant

financial speculation in the securities

market. Thus, these meetings fall within

the exemption covered by 5 U.S.C.

§ 552b(c)(9)(A).

The Office of the Assistant Secretary

for Financial Markets is responsible for

maintaining records of debt

management advisory committee

meetings and for providing annual

reports setting forth a summary of

committee activities and such other

matters as may be informative to the

public consistent with the policy of 5

U.S.C. § 552b.

Dated: October 1, 1997.

Gary Gensler,

Assistant Secretary (Financial Markets).

[FR Doc. 97–26490 Filed 10–6–97; 8:45 am]

BILLING CODE 4810–25–M

DEPARTMENT OF THE TREASURY

Fiscal Service

Surety Companies Acceptable on

Federal Bonds: American Mercury

Insurance Company

AGENCY: Financial Management Service,

Fiscal Service Department of the

Treasury.

ACTION: Surety companies acceptable on

federal bonds CHANGE OF NAME

American Fidelity Insurance Company.

SUMMARY: Dept. Circ. 570, 1997—Rev.,

Supp. No. 1)

FOR FURTHER INFORMATION CONTACT:

Surety Bond Branch (101) 874–

7102.Q02

SUPPLEMENTARY INFORMATION: American

Fidelity Insurance Company, an

Oklahoma corporation, has formally

changed its name to American Mercury

Insurance Company, effective August 1,

1997. The Company was last listed as an

acceptable surety on Federal bonds at 62

FR 35550, July 1, 1997.

A Certificate of Authority as an

acceptable surety on Federal bonds,

dated today, is hereby issued under

Sections 9304 to 9308 of Title 31 of the

United States Code, to American

Mercury Insurance Company, Oklahoma

City, Oklahoma. This new Certificate

replaces the Certificate of Authority

issued to the Company under its former

name. The underwriting limitation of
Federal Register / Vol. 62, No. 194 / Tuesday, October 7, 1997 / Notices 52379

$3,850,000 established for the Company

as of July 1, 1997, remains unchanged

until June 30, 1998.

Certificates of Authority expire on

June 30, each year, unless revoked prior

to that date. The Certificates are subject

to subsequent annual renewal as long as

the Company remains qualified (31 CFR,

Part 223). A list of qualified companies

is published annually as of July 1, in the

Department Circular 570, which

outlines details as to underwriting

limitations, areas in which licensed to

transact surety business and other

information. Federal bond-approving

officers should annotate their reference

copies of the Treasury Circular 570,

1997 Revision, at page 35551 to reflect

this change.

The Circular may be viewed and

downloaded through the Internet (http:/

/www/fms.treas.gov/c570.html) or

through our computerized public

bulletin board system (FMS Inside Line)

at (202) 847–6887. A hard copy may be

purchased from the Government

Printing Office (GPO), Subscription

Service, Washington, DC, telephone

(202) 512–1800. When ordering the

Circular from GPO, use the following

stock number: 048–000–00499–7.

Questions concerning this notice may

be directed to the U.S. Department of

the Treasury, Financial Management

Service, Funds Management Division,

Surety Bond Branch, 3700 East-West

Highway, Room 6A14, Hyattsville, MD

20782.

Dated: September 18, 1997.

Charles F. Schwan III,

Director, Funds Management Division,

Financial Management Service.

[FR Doc. 97–26459 Filed 10–6–97; 8:45 am]

BILLING CODE 4810–35–M

DEPARTMENT OF THE TREASURY

Internal Revenue Service

Proposed Collection; Comment

Request for Revenue Procedure 97–44

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

Revenue Procedure 97–44, LIFO

Conformity Requirement.

DATES: Written comments should be

received on or before December 8, 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: LIFO Conformity Requirement.

OMB Number: 1545–1559.

Revenue Procedure Number: Revenue

Procedure 97–44.

Abstract: Revenue Procedure 97–44

permits automobile dealers that comply

with the terms of the revenue procedure

to continue using the LIFO inventory

method despite previous violations of

the LIFO conformity requirements of

Internal Revenue Code section 472(c) or

(e)(2).

Current Actions: There are no changes

being made to the revenue procedure

this time.

Type of Review: Extension of a

currently approved collection.

Affected Public: Business or other forprofit organizations.

Estimated Number of Respondents:

5,000.

Estimated Time Per Respondent: 20

hours.

Estimated Total Annual Burden

Hours: 100,000.

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: September 29, 1997.

Garrick R. Shear,

IRS Reports Clearance Officer

[FR Doc. 97–26559 Filed 10–6–97; 8:45 am]

BILLING CODE 4830–01–U

DEPARTMENT OF TREASURY

Internal Revenue Service

Notice of Open Meeting of the

Information Reporting Program

Advisory Committee

AGENCY: Internal Revenue Service (IRS),

Treasury.

SUMMARY: In 1991 the IRS established

the Information Reporting Program

Advisory Committee (IRPAC) in

response to a recommendation made by

the United States Congress. The primary

purpose of IRPAC is to provide an

organized public forum for discussion of

relevant information reporting issues

between the officials of the IRS and

representatives of the payer community.

IRPAC offers constructive observations

about current or proposed policies,

programs, and procedures and, when

necessary, suggests ways to improve the

operation of the Information Reporting

Program (IRP).

There will be a meeting of IRPAC on

Tuesday and Wednesday, October 28–

29, 1997. The meeting will be held in

Room 3313 of the Internal Revenue

Service Main Building, which is located

at 1111 Constitution Avenue, NW.,

Washington, DC. A summarized version

of the agenda along with a list of topics

that are planned to be discussed are

listed below.

Summarized Agenda for Meeting on

October 28–29, 1997

Tuesday, October 28, 1997

9:30 Public Meeting Opens

11:30 Break for Lunch

1:00 Public Meeting Continues

4:30 Adjourn for the Day

Wednesday, October 29, 1997

9:30 Public Meeting Reconvenes