25564 Federal Register / Vol. 63, No. 89 / Friday, May 8, 1998 / Notices

Preparing the form—3 hr., 35 min.

Copying, assembling, and sending the

form to the IRS—32 min.

Frequency of Response: Annually.

Estimated Total Reporting/

Recordkeeping Burden: 653,000 hours.

OMB Number: 1545–1593.

Form Number: IRS Form 1041–QFT.

Type of Review: Extension.

Title: U.S. Income Tax Return for

Qualified Funeral Trusts.

Description: Internal Revenue Code

(IRC) section 685 allows the trustee of

a qualified funeral trust to elect to report

and pay the tax for the trust. Data is

used to determine that the trustee filed

the proper return and paid the correct

tax.

Respondents: Business or other forprofit.

Estimated Number of Respondents/

Recordkeepers: 15,000.

Estimated Burden Hours Per

Respondent/Recordkeeper:

Recordkeeping—9 hr., 5 min.

Learning about the law or the form—1

hr., 26 min.

Preparing the form—3 hr., 31 min.

Copying, assembling, and sending the

form to the IRS—32 min.

Frequency of Response: Annually.

Estimated Total Reporting/

Recordkeeping Burden: 218,550 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. 98–12213 Filed 5–7–98; 8:45 am]

BILLING CODE 4830–01–P

DEPARTMENT OF THE TREASURY

Submission to OMB for Review;

Comment Request

April 27, 1998.

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 June 8, 1998 to be

assured of consideration.

Internal Revenue Service (IRS)

OMB Number: 1545–0115.

Form Number: IRS Form 1099–MISC.

Type of Review: Extension.

Title: Miscellaneous Income.

Description: Form 1099–MISC is used

by payers to report payments of $600 or

more of rents, prizes and awards,

medical and health care payments,

nonemployee compensation, and crop

insurance proceeds, $10 or more of

royalties, any amount of fishing boar

proceeds, certain substitute payments,

golden parachute payments, and an

indication of direct sales or $5,000 or

more.

Respondents: Business or other forprofit, Individuals or households, Notfor-profit institutions, Farms, Federal

Government, State, Local or Tribal

Government.

Estimated Number of Respondents:

4,302,217.

Estimated Burden Hours Per

Respondent: 14 minutes.

Frequency of Response: Annually.

Estimated Total Reporting Burden:

16,852,933 hours.

OMB Number: 1545–0129.

Form Number: IRS Form 1120–POL.

Type of Review: Extension.

Title: U.S. Income Tax Return for

Certain Political Organizations.

Description: Certain political

organizations file Form 1120–POL to

report the tax imposed by section 527.

The form is used to designate a

principal business campaign committee

that is subject to a lower rate of tax

under section 527(h). IRS uses Form

1120–POL to determine if the proper tax

was paid.

Respondents: Not-for-profit

institutions.

Estimated Number of Respondents/

Recordkeepers: 6,527.

Estimated Burden Hours Per

Respondent/Recordkeeper:

Recordkeeping—15 hr., 32 min.

Learning about the law or the form—6

hr., 12 min.

Preparing the form—15 hr., 6 min.

Copying, assembling, and sending the

form to the IRS—2 hr., 25 min.

Frequency of Response: Annually.

Estimated Total Reporting/

Recordkeeping Burden: 256,185 hours.

OMB Number: 1545–0192.

Form Number: IRS Form 4970.

Type of Review: Extension.

Title: Tax on Accumulation

Distribution of Trusts.

Description: Form 4970 is used by a

beneficiary of a domestic or foreign trust

to compute the tax adjustment

attributable to an accumulation

distribution. The form is used to verify

whether the correct tax has been paid on

the accumulation distribution.

Respondents: Individuals or

households.

Estimated Number of Respondents/

Recordkeepers: 30,000.

Estimated Burden Hours Per

Respondent/Recordkeeper:

Recordkeeping—1 hr., 12 min.

Learning about the law or the form—16

min.

Preparing the form—1 hr., 27 min.

Copying, assembling, and sending the

form to the IRS—20 min.

Frequency of Response: Annually.

Estimated Total Reporting/

Recordkeeping Burden: 97,800 hours.

OMB Number: 1545–0196.

Form Number: IRS Form 5227.

Type of Review: Extension.

Title: Split-Interest Trust Information

Return.

Description: The data reported is used

to verify that the beneficiaries of a

charitable remainder trust include the

correct amounts in their tax returns, and

that the split-interest trust is not subject

to private foundation taxes.

Respondents: Business or other forprofit.

Estimated Number of Respondents/

Recordkeepers: 53,303.

Estimated Burden Hours Per

Respondent/Recordkeeper:

Recordkeeping—46 hr., 52 min.

Learning about the law or the form—3

hr., 48 min.

Preparing the form—10 hr., 19 min.

Copying, assembling, and sending the

form to the IRS—1 hr., 37 min.

Frequency of Response: Annually.

Estimated Total Reporting/

Recordkeeping Burden: 3,336,768 hours.

OMB Number: 1545–0582.

Form Number: IRS Form 1139.

Type of Review: Extension.

Title: Corporation Application for

Tentative Refund.

Description: Form 1139 is filed by

corporations that expect to have a net

operating loss, net capital loss, or

unused general business credits carried

back to a prior tax year. IRS uses Form

1139 to determine if the amount of the

loss or unused credits is reasonable.

Respondents: Business or other forprofit.

Estimated Number of Respondents/

Recordkeepers: 3,000.

Estimated Burden Hours Per

Respondent/Recordkeeper:

Recordkeeping—25 hr., 35 min.

Learning about the law or the form—3

hr., 50 min.
Federal Register / Vol. 63, No. 89 / Friday, May 8, 1998 / Notices 25565

Preparing the form—9 hr., 4 min.

Copying, assembling, and sending the

form to the IRS—1 hr., 20 min.

Frequency of Response: On occasion.

Estimated Total Reporting/

Recordkeeping Burden: 119,490 hours.

OMB Number: 1545–0763.

Regulation Project Number: LR–200–

76 Final.

Type of Review: Extension.

Title: Qualified Conservation

Contributions.

Description: The information is

necessary to comply with various

substantive requirements of section

170(h), which describes situations in

which a taxpayer is entitled to an

income tax deduction for a charitable

contribution for conservation purposes

of a partial interest in real property.

Respondents: Business or other forprofit, Individuals or households, Notfor-profit institutions, Farms, Federal

Government, State, Local or Tribal

Government.

Estimated Number of Recordkeepers:

1,000.

Estimated Burden Hours Per

Recordkeeper: 1 hour, 15 minutes.

Estimated Total Recordkeeping

Burden: 1,250 hours.

OMB Number: 1545–0927.

Form Number: IRS Form 8390.

Type of Review: Extension.

Title: Information Return for

determination of Life Insurance

Company Earnings Rate Under Section

809.

Description: Life insurance companies

are required to provide data so the

Secretary of the Treasury can compute

the: (1) stock earnings rate of the 50

largest stock companies; and (2) average

mutual earnings rate. These factors are

used to compute the differential

earnings rate which will determine the

tax liability for mutual insurance

companies.

Respondents: Business or other forprofit.

Estimated Number of Respondents/

Recordkeepers: 150.

Estimated Burden Hours Per

Respondent/Recordkeeper:

Recordkeeping—56 hr., 41 min.

Learning about the law or the form—3

hr., 35 min.

Preparing and sending the form to the

IRS—4 hr., 40 min.

Frequency of Response: Annually.

Estimated Total Reporting/

Recordkeeping Burden: 9,738 hours.

OMB Number: 1545–1014.

Form Number: IRS Form 1066 and

Schedule Q (Form 1066).

Type of Review: Extension.

Title: U.S. Real Estate Mortgage

Investment Conduit (REMIC) Income

Tax Return (1066); and Quarterly Notice

to Residual Interest Holder of REMIC

Taxable Income or Net Loss Allocation

(Schedule Q).

Description: Form 1066 and Schedule

Q (Form 1066) are used by a real estate

mortgage investment conduit (REMIC)

to figure its tax liability and income and

other tax-related information to pass

through to its residual holders. IRS uses

the information to determine the correct

tax liability of the REMIC and its

residual holders.

Respondents: Business or other forprofit.

Estimated Number of Respondents/

Recordkeepers: 4,917.

Estimated Burden Hours Per

Respondent/Recordkeeper:

Form 1066 Schedule Q

(Form 1066)

Recordkeeping ................................................................................................................................. 28 hr., 13 min ............ 6 hr., 13 min.

Learning about the law or the form ................................................................................................. 6 hr., 41 min .............. 1 hr., 28 min.

Preparing the form ........................................................................................................................... 9 hr., 41 min .............. 2 hr., 34 min.

Copying, assembling, and sending the form to the IRS .................................................................. 32 min ....................... 16 min.

Frequency of Response: Quarterly,

Annually.

Estimated Total Reporting/

Recordkeeping Burden: 736,862 hours.

OMB Number: 1545–1020.

Form Number: IRS Form 1041–T.

Type of Review: Extension.

Title: Allocation of Estimated Tax

Payments to Beneficiaries.

Description: This form was developed

to allow a trustee of a trust or an

executor of an estate to make an election

under Internal Revenue Code (IRC)

section 643(g) to allocate any payment

of estimated tax to a beneficiary(ies).

This form serves as a transmittal so that

Service Center personnel can determine

the correct amounts that are to be

transferred from the fiduciary’s account

to the individual’s account.

Respondents: Business or other forprofit.

Estimated Number of Respondents/

Recordkeepers: 1,000.

Estimated Burden Hours Per

Respondent/Recordkeeper:

Recordkeeping—20 min.

Learning about the law or the form—4

min.

Preparing the form—21 min.

Copying, assembling, and sending the

form to the IRS—17 min.

Frequency of Response: Other (when

such election is made).

Estimated Total Reporting/

Recordkeeping Burden: 1,040 hours.

OMB Number: 1545–1250.

Form Number: IRS Form 9356.

Type of Review: Revision.

Title: Application for Software

Developers to Participate in the 1040PC

Format for Individual Income Tax

Returns.

Description: Form 9356 will be filled

in by software developers and submitted

to the IRS as an application for

producing software for the Form

1040PC.

Respondents: Business or other forprofit.

Estimated Number of Respondents:

200.

Estimated Burden Hours Per

Respondent: 15 minutes.

Frequency of Response: Annually.

Estimated Total Reporting Burden: 50

hours.

OMB Number: 1545–1308

Regulation Project Number: PS–260–

82 Final.

Type of Review: Extension.

Title: Election, Revocation,

Termination, and Tax Effect of

Subchapter S Status.

Description: Sections 1.1362–1

through 1.1362–7 of the Income Tax

Regulations provide the specific

procedures and requirements necessary

to implement section 1362, including

the filing of various elections and

statements with the Internal Revenue

Service.

Respondents: Individuals or

households, Business or other for-profit,

Farms.

Estimated Number of Respondents:

133.

Estimated Burden Hours Per

Respondent: 3 hours, 18 minutes.

Estimated Total Reporting Burden:

322 hours.

OMB Number: 1545–1379.

Form Number: IRS Form 8831.

Type of Review: Extension.

Title: Excise Taxes on Excess

Inclusions of REMIC Residual Interests.

Description: Form 8831 is used by a

real estate mortgage investment conduit
25566 Federal Register / Vol. 63, No. 89 / Friday, May 8, 1998 / Notices

(REMIC) to figure its excise tax liability

under Code sections 860E(e)(1),

860E(e)(6), and 860E(e)(7). IRS uses the

information to determine the correct tax

liability of the REMIC.

Respondents: Business or other forprofit.

Estimated Number of Respondents/

Recordkeepers: 31.

Estimated Burden Hours Per

Respondent/Recordkeeper:

Recordkeeping—4 hr., 32 min.

Learning about the law or the form—1

hr., 29 min.

Preparing and sending the form to the

IRS—1 hr., 38 min.

Frequency of Response: On occasion.

Estimated Total Reporting/

Recordkeeping Burden: 237 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. 98–12214 Filed 5–7–98; 8:45 am]

BILLING CODE 4830–01–U

DEPARTMENT OF THE TREASURY

Internal Revenue Service

Proposed Collection; Comment

Request for Form 8264

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 Form

8264, Application for Registration of a

Tax Shelter.

DATES: Written comments should be

received on or before July 7, 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 form and instructions

should be directed to Martha R. Brinson,

(202) 622–3869, Internal Revenue

Service, room 5571, 1111 Constitution

Avenue NW., Washington, DC 20224.

SUPPLEMENTARY INFORMATION:

Title: Application for Registration of a

Tax Shelter.

OMB Number: 1545–0865

Form Number: 8264

Abstract: Under section 6111 of the

Internal Revenue Code, organizers of

certain tax shelters are required to

register them with the IRS. Organizers

filing a properly completed Form 8264

will receive a tax shelter registration

number from the IRS. They must furnish

the tax shelter registration number to

investors in the tax shelter, who must

provide the number to the IRS when

they report any income or claim a

deduction, loss, credit, or other tax

benefit derived from the tax shelter on

their tax return.

Current Actions: There are no changes

being made to the form at this time.

Type of Review: Extension of a

currently approved collection.

Affected Public: Business or other forprofit organizations and individuals or

households.

Estimated Number of Respondents:

1,000

Estimated Time Per Respondent: 39

hr., 4 min.

Estimated Total Annual Burden

Hours: 39,060

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: April 30, 1998.

Garrick R. Shear,

IRS Reports Clearance Officer

[FR Doc. 98–12199 Filed 5–7–98; 8:45 am]

BILLING CODE 4830–01–U

DEPARTMENT OF THE TREASURY

Internal Revenue Service

Proposed Collection; Comment

Request for Forms 8288 and 8288–A

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 Form 8288, U.S.

Withholding Tax Return for

Dispositions by Foreign Persons of U.S.

Real Property Interests and Form 8288–

A, Statement of Withholding on

Dispositions by Foreign Persons of U.S.

Real Property Interests.

DATES: Written comments should be

received on or before July 7, 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 form and instructions

should be directed to Martha R. Brinson,

(202) 622–3869, Internal Revenue

Service, room 5571, 1111 Constitution

Avenue NW., Washington, DC 20224.

SUPPLEMENTARY INFORMATION:

Title: U.S. Withholding Tax Return for

Dispositions by Foreign Persons of U.S.

Real Property Interests (Form 8288) and

Statement of Withholding on

Dispositions by Foreign Persons of U.S.

Real Property Interests (Form 8288–A).

OMB Number: 1545–0902.

Form Number: 8288 and 8288–A.