Federal Register / Vol. 62, No. 243 / Thursday, December 18, 1997 / Notices 66403

For the foregoing reasons, further

expenditure of the agency’s

investigative resources on the

allegations in the petition does not

appear to be warranted. Therefore, the

petition is denied.

Authority: 49 U.S.C. 30162 (d); delegations

of authority at CFR 1.50 and 501.8.

Issued on: December 9, 1997.

Kenneth N. Weinstein,

Associate Administrator for Safety

Assurance.

[FR Doc. 97–33032 Filed 12–17–97; 8:45 am]

BILLING CODE 4910–59–P

DEPARTMENT OF THE TREASURY

Internal Revenue Service

Proposed Collection; Comment

Request for Notice 97–65

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 Notice 97-65,

Income Tax Return Preparer Penalties—

1997 Federal Income Tax Returns Due

Diligence Requirements for Earned

Income Credit (EIC).

DATES: Written comments should be

received on or before February 17, 1998

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: Income Tax Return Preparer

Penalties—1997 Federal Income Tax

Returns Due Diligence Requirements for

Earned Income Credit (EIC).

OMB Number: 1545–1570.

Notice Number: Notice 97–65.

Abstract: Notice 97–65 sets forth due

diligence requirements for tax preparers

on returns involving the earned income

tax credit (EIC). The due diligence

requirements include soliciting the

information necessary to determine a

taxpayer’s eligibility for the EIC and the

amount of the EIC, and the retention of

this information.

Current Actions: There are no changes

being made to the notice at this time.

Type of Review: Extension of a

currently approved collection.

Affected Public: Business or other forprofit organizations.

Estimated Number of Respondents:

1,200,000.

Estimated Time Per Respondent: 8

minutes.

Estimated Total Annual Burden

Hours: 160,000.

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: December 10, 1997.

Garrick R. Shear,

IRS Reports Clearance Officer.

[FR Doc. 97–32962 Filed 12–17–97; 8:45 am]

BILLING CODE 4830–01–P

DEPARTMENT OF THE TREASURY

Internal Revenue Service

[LR–58–83]

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–58–83 (T.D. 7959),

Related Group Election With Respect to

Qualified Investments in Foreign Base

Company Shipping Operations

(§§ 1.955A–2 and 1.955A–3).

DATES: Written comments should be

received on or before February 17, 1998

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: Related Group Election With

Respect to Qualified Investments in

Foreign Base Company Shipping

Operations.

OMB Number: 1545–0755.

Regulation Project Number: LR–58–

83.

Abstract: This regulation concerns the

election made by a related group of

controlled foreign corporations to

determine foreign base company

shipping income and qualified

investments in foreign base company

shipping operations on a related group

basis. The information required is

necessary to assure that the U.S.

shareholder correctly reports any

shipping income of its controlled

foreign corporations which is taxable to

that shareholder.

Current Actions: There is no change to

this existing regulation.