[Federal Register Volume 62, Number 61 (Monday, March 31, 1997)]
[Notices]
[Pages 15222-15224]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-8081]


-----------------------------------------------------------------------


DEPARTMENT OF THE TREASURY

Submission to OMB for Review; Comment Request

March 24, 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, 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.

Internal Revenue Service (IRS)

    OMB Number: 1545-0714.
    Form Number: IRS Forms 8027 and 8027-T.
    Type of Review: Extension.
    Title: Employer's Annual Information Return of Tip and Allocated 
Tips (8027); and Transmittal of Employer's Annual Information Return of 
Tip Income and Allocated Tips (8027-T).
    Description: To help IRS in its examinations of returns filed by 
tipped employees, large food or beverage establishments are required to 
report annually information concerning food or beverage operations 
receipts, tips by employees, and in certain cases, the employer must 
allocate tips to certain employees.
    Respondents: Business and other for-profit, Individuals or 
households, Not-for-profit institution, State, Local or Tribal 
Governments.
    Estimated Number of Respondents/Recordkeepers: 52,050.
    Estimated Burden Hours Per Respondent/Recordkeeper:

------------------------------------------------------------------------
                                        8027                8027-T      
------------------------------------------------------------------------
Recordkeeping.................  5 hr., 59 min......  43 min.            
Learning about the law or the   42 min.............  ...................
 form.                                                                  
Preparing and sending the form  50 min.............  1 min.             
 to the IRS.                                                            
------------------------------------------------------------------------

    Frequency of Response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 368,908 hours.

    OMB Number: 1545-0817.
    Regulation Project Number: EE-28-78 Final.
    Type of Review: Extension.
    Title: Inspection of Applications for Tax Exemption and 
Applications for Determination Letters for Pension and Other Plans.
    Description: Internal Revenue Code section 6104 requires 
applications for tax exempt status, annual reports of private 
foundations, and certain portions of returns to be open for public 
inspection. Some information may be withheld from disclosure. IRS needs 
the information to comply with requests for public inspection of the 
above-named documents.
    Respondents: Business or other for-profit, Individuals or 
households, Not-for-profit institutions, Federal Government, State, 
Local or Tribal Government.
    Estimated Number of Respondents: 51,070.
    Estimated Burden Hours Per Respondent: 14 minutes.
    Frequency of Response: On occasion.
    Estimated Total Reporting Burden: 12,018 hours.


[[Page 15223]]


    OMB Number: 1545-1227.
    Regulation Project Number: FI-104-90 Final.
    Type of Review: Extension.
    Title: Tax Treatment of Salvage and Reinsurance.
    Description: The regulation provides a disclosure requirement for 
an insurance company that increases losses shown on its annual 
statement by the amount of estimated salvage recoverable taken into 
account.
    Respondents: Business or other for-profit.
    Estimated Number of Respondents: 2,500.
    Estimated Burden Hours Per Respondent: 2 hours.
    Frequency of Response: Annually.
    Estimated Total Reporting Burden: 5,000 hours.

    OMB Number: 1545-1240.
    Regulation Project Number: INTL-116-90 (NPRM).
    Type of Review: Extension.
    Title: Allocation of Charitable Contributions.
    Description: The recordkeeping requirements affects businesses or 
other for-profit institutions. This information is required by the IRS 
to ensure the proper application of section 1.861-8(e)(iv) of the 
regulations. This information will be used to verify the U.S. source 
allocation of certain charitable contributions.
    Respondents: Business or other for-profit.
    Estimated Number of Recordkeepers: 500.
    Estimated Burden Hours Per Recordkeeper: 1 hour.
    Frequency of Response: Other.
    Estimated Total Recordkeeping Burden: 500 hours.

    OMB Number: 1545-1347.
    Regulation Project Number: FI-7-94 NPRM, Temporary and Final; FI-
36-92 Final.
    Type of Review: Extension.
    Title: Arbitrage Restrictions on Tax-Exempt Bonds.
    Description: The Code limits the ability of state and local 
government issuers of tax-exempt bonds to earn and/or keep arbitrage 
profits earned with bond proceeds. This regulation requires 
recordkeeping of certain interest rate hedges so that the hedges are 
taken into account in determining those profits.
    Respondents: State, Local or Tribal Governments.
    Estimated Number of Respondents/Recordkeepers: 3,000.
    Estimated Burden Hours Per Respondent/Recordkeeper: 14 hours.
    Frequency of Response: On occasion.
    Estimated Total Reporting/Recordkeeping Burden: 42,000 hours.

    OMB Number: 1545-1517.
    Form Number: IRS Form 1099-MSA.
    Type of Review: Extension.
    Title: Distributions From Medical Savings Accounts.
    Description: This form will be used to report distributions from a 
medical savings account as set forth in section 220(h).
    Respondents: Business or other for-profit.
    Estimated Number of Respondents: 150,000.
    Estimated Burden Hours Per Respondent: 7 minutes.
    Frequency of Response: Annually.
    Estimated Total Reporting Burden: 45,000 hours.

    OMB Number: 1545-1518.
    Form Number: IRS Form 5498-MSA.
    Type of Review: Extension.
    Title: Medical Savings Account Information.
    Description: This form will be used to report contributions to a 
medical savings account as set forth in section 220(h).
    Respondents: Business or other for-profit.
    Estimated Number of Respondents: 150,000.
    Estimated Burden Hours Per Respondent: 10 minutes.
    Frequency of Response: Annually.
    Estimated Total Reporting Burden: 60,000 hours.

    OMB Number: 1545-1519.
    Form Number: IRS Form 1099-LTC.
    Type of Review: Extension.
    Title: Long-Term Care and Accelerated Death Benefits.
    Description: Under the terms of Internal Revenue Code (IRC) 
sections 7702B and 101g, qualified long-term care and accelerated death 
benefits paid to chronically ill individuals are treated as amounts 
received for expenses incurred for medical care. Amounts received on a 
per diem basis in excess of $175.00 per day are taxable. Section 6050Q 
requires all such amounts to be reported.
    Respondents: Business or other for-profit, Individuals or 
households, Not-for-profit institutions, State, Local or Tribal 
Government.
    Estimated Number of Respondents: 1,000.
    Estimated Burden Hours Per Respondent: 11 minutes.
    Frequency of Response: Annually.
    Estimated Total Reporting Burden: 4,750 hours.

    OMB Number: 1545-1520.
    Revenue Procedure Number: Revenue Procedures 97-4, 97-5, 97-6 and 
97-8.
    Type of Review: Extension.
    Title: Letter Rulings (97-4); Technical Advice (97-5); 
Determination Letters (97-6); User Fees (97-8).
    Description: The information requested in proposed sections 7.07, 
9.02-9.06, 10.02, 10.03, 11.03, 11.04(1)(5), 11.06, 12.01, 12.06, 
12.07, 13.09(1), 14.02(1) and the Appendix of proposed Revenue 
Procedure 97.4; proposed sections 6.03, 9.01, 9.02, 10.03-10.05, 11.02, 
11.03, 12.01, 13.03, 13.10, 15.10, 15.12, 16.04, 18.03-18.05 of 
proposed Revenue Procedure 97-5; proposed sections 6.16, 6.18, 7.04, 
9.07(4), 10.05, 14, 16, 17, 20.02, and 22.04 of proposed Revenue 
Procedure 97-6; and proposed section 6.01(12)(c), 6.12(6)(a), 6.13(1), 
and 11 of proposed Revenue Procedure 97-8 is required to enable the 
Office of the Assistant Commissioner (Employee Plans and Exempt 
Organizations) of the Internal Revenue Service, which was established 
by section 1051(a) of the Employee Retirement Income Security Act of 
1974 (section 7082(b) of the Internal Revenue Code), to give advice on 
filing letter ruling, determination letter, and technical advice 
requests and process such requests.
    Respondents: Business or other for-profit, Individuals or 
households, Not-for-profit institutions, Farms, State, Local or Tribal 
Governments.
    Estimated Number of Respondents: 83,068.
    Estimated Burden Hours Per Respondent: 2 hours, 8 minutes.
    Frequency of Response: On occasion.
    Estimated Total Reporting Burden: 177,686 hours.
    OMB Number: 1545-1522.
    Revenue Procedure Number: Revenue Procedures 97-1 and 97-3.
    Type of Review: Extension.
    Title: 26 CFR 601.201--Rulings and Determination Letters.
    Description: The information requested in Revenue Procedure 97-1 
under proposed sections 5.05, 6.07, 8.01, 8.02, 8.03, 8.04, 8.05, 8.07, 
9.01, 10.06, 10.07, 10.09, 11.01, 11.06, 11.07, 12.11, 13.02, 15.02, 
15.07, 15.08, 15.09, and 15.11, paragraph (B)(1) of Appendix A, and 
Appendix C, and in Revenue Procedure 97-3 under proposed sections 3.01 
(22), (24), (25), (27), and (28), 3.02 (1) and (3), 4.01(26), and 4.02 
(1) and (7)(b) is required to enable the Internal Revenue Service to 
give advice on filing letter ruling and determination letter requests 
and process such requests.
    Respondents: Business or other for-profit, Individuals or 
households, Farms, Federal Government, State, Local or Tribal 
Government.
    Estimated Number of Respondents: 3,800.
    Estimated Burden Hours Per Respondent: 80 hours, 16 minutes.
    Frequency of Response: On occasion.

[[Page 15224]]

    Estimated Total Reporting Burden: 304,990 hours.

    OMB Number: 1545-1528.
    Revenue Procedure Number: Revenue Procedure 97-15.
    Type of Review: Extension.
    Title: Section 103--Remedial Payment Closing Agreement.
    Description: This information is required by the Internal Revenue 
Service to verify compliance with sections 57, 103, 141, 142, 144, 145, 
and 147 of the Internal Revenue Code of 1986, as applicable (including 
any corresponding provision, if any, of the Internal Revenue Code of 
1954). This information will be used by the Service to enter into a 
closing agreement with the issuer to establish the closing agreement 
amount.
    Respondents: Not-for-profit institutions.
    Estimated Number of Respondents/Recordkeepers: 15.
    Estimated Burden Hours Per Respondent/Recordkeeper: 1 hour, 30 
minutes.
    Frequency of Response: On occasion.
    Estimated Total Reporting/Recordkeeping Burden: 75 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. 97-8081 Filed 3-28-97; 8:45 am]
BILLING CODE 4820-01-P