[Federal Register Volume 65, Number 187 (Tuesday, September 26, 2000)]
[Notices]
[Pages 57859-57860]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 00-24683]


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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

September 20, 2000.
    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, Public Law 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.

DATES: Written comments should be received on or before October 26, 
2000 to be assured of consideration.

Internal Revenue Service (IRS)

    OMB Number: 1545-0052.
    Form Number: IRS Forms 990-PF and 4720.
    Type of Review: Revision.
    Title: Return of Private Foundation or Section 4947(a)(1) Nonexempt 
Charitable Trust Treated as a Private Foundation (990-PF); and Return 
of Certain Excise Taxes on Charities and Other Persons Under Chapters 
41 and 42 of the Internal Revenue Code (4720).
    Description: Internal Revenue Code (IRC) section 6033 requires all 
private foundations, include section 4947(a)(1) trusts treated as 
private foundations, to file an annual information return. Section 
53.4940-1(a) of the Income Tax Regulations requires that the tax on net 
investment income be reported on the return filed under section 6033. 
Form 990-PF is used for this purpose. Section 6011 requires a report of 
taxes under Chapter 42 of the Code for prohibited acts by private 
foundation and certain related parties. Form 4720 is used by 
foundations and/or related persons to report prohibited activities in 
detail and pay the tax on them.
    Respondents: Not-for-profit institutions.
    Estimated Number of Respondents/Recordkeepers: 54,000.
    Estimated Burden Hours Per Respondent/Recordkeeper:

[[Page 57860]]



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                                      Form 990-PF          Form 4720
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Recordkeeping...................  140 hr., 37 min...  39 hr., 56 min.
Learning about the law or the     27 hr.,40 min.....  16 hr., 31 min.
 form.
Preparing the form..............  32 hr., 7 min.....  23 hr., 29 min.
Copying, assembling, and sending  16 min............  1 hr., 36 min.
 the form to the IRS.
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    Frequency of Response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 10,901,853 hours.
    Clearance Officer: Garrick Shear, Internal Revenue Service, Room 
5244, 1111 Constitution Avenue, NW., Washington, DC 20224.
    OMB Reviewer: Alexander T. Hunt, (202) 395-7860, Office of 
Management and Budget, Room 10202, New Executive Office Building, 
Washington, DC 20503.

Lois K. Holland,
Departmental Reports Management Officer.
[FR Doc. 00-24683 Filed 9-25-00; 8:45 am]
BILLING CODE 4830-01-U