Document Headings

                    Document headings vary by document type but may contain                    the following:                  
                -                       the agency or agencies that issued and signed a document                    
                -                       the number of the CFR title and the number of each part                      the document amends, proposes to amend, or is directly                      related to                    
                -                       the agency docket number / agency internal file number                    
                -                       the RIN which identifies each regulatory action listed in                      the Unified Agenda of Federal Regulatory and Deregulatory                      Actions                    

                    See the                                          Document Drafting Handbook                                        for more details.                  

###### Department of the Treasury

# DATES:

Written comments should be received on or before December 4, 2000 to be assured of consideration. 

## Internal Revenue Service (IRS) 

*OMB Number:*                     1545-0794.                

*Regulations Project Number:*                    LR-311-81 Final (TD 7925).                

*Type of Review:*                    Extension.                

*Title:*                    Penalties for Underpayment of Deposits and Overstated Deposit Claims, and Time for Filing Information Returns of Owners, Officers and Directors of Foreign Corporations.                

*Description:*                     Section 606 requires information returns with respect to certain foreign corporations and the                           ( print page 66301)                        regulations provide the date by which these returns must be filed. Section 6656 provides penalties with respect to failure to properly satisfy tax deposit obligations and the regulations provide the method for applying for relief from these penalties.                 

*Respondents:*                     Business or other for-profit, individuals or households.                 

*Estimated Number of Respondents:*                    60,000.                 

*Estimated Burden Hours Per Respondent:*                    30 minutes.                 

*Frequency of Response:*                    On occasion.                 

*Estimated Total Reporting Burden:*                    30,000 hours.                 

*OMB Number:*                    1545-1098.                 

*Regulation Project Number:*                    FI-91-86; FI-90-86; FI-90-91; and FI-1-90 Final (TD 8428).                 

*Type of Review:*                    Extension.                 

*Title:*                    Arbitrage Restrictions on Tax-Exempt Bonds.                 

*Description:*                     This regulation requires state and local governmental issuers of tax-exempt bonds to rebate arbitrage profits earned on non-purpose investments acquired with the bond proceeds. Issuers are required to submit a form with the rebate. The regulations provide for several elections, all of which must be in writing.                 

*Respondents:*                     State, local or Tribal Government; Not-for-profit institutions.                 

*Estimated Number of Respondents:*                    3,100.                 

*Estimated Burden Hours Per Respondent:*                    2 hours, 46 minutes.                 

*Frequency of Response:*                    On occasion, Other (at most every 5 years).                 

*Estimated Total Reporting Burden:*                    8,550 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. 00-28217 Filed 11-2-00; 8:45 am] 

BILLING CODE 4830-01-U