32912 Federal Register / Vol. 63, No. 115 /Tuesday, June 16, 1998 / Notices

SPI ‘‘A’’ for purposes of receiving an

automatic GSP refund should the GSP

be renewed with retroactive effect will

have to reprogram their software to

accept the submission of estimated

duties with the SPI ‘‘A’’ designation on

entries. (ABI filers who do not wish to

reprogram their software will be

required to request refunds in writing to

the appropriate port director identifying

the affected entry numbers if the GSP is

renewed with retroactive effect). While

reprogramming is strictly voluntary,

continued use of the SPI ‘‘A’’ has some

benefits: one already mentioned is that

the filer will not have to request a

refund of deposited duties in writing

should the GSP be renewed with

retroactive effect; another is that ACS

will perform its usual edits on the

information transmitted by the filer,

thereby ensuring that GSP claims are for

acceptable country/tariff combinations

and eliminating the need for numerous

statistical corrections.

Importers may not use the SPI ‘‘A’’ if

they intend to later claim drawback. To

claim both this refund and drawback

would be to request a refund in excess

of duties actually deposited. Importers

who are unsure as to whether they will

claim drawback are advised not to use

the SPI ‘‘A’’. If the GSP is renewed with

retroactive effect, and they have not yet

claimed drawback, they may request a

refund by writing to the port director at

the port of entry. If the GSP is not

renewed with retroactive effect, they

will still have the option of filing a

drawback entry.

Refunds

1. Automatic

Should the GSP be renewed with

retroactive effect, then Customs will

liquidate or reliquidate all affected ABI

entry summaries with a refund for the

GSP line items. If an ABI entry summary

was filed with the SPI ‘‘A’’, then no

further action need be taken by the filer

to request a refund.

2. Need for written request

If an ABI entry summary was filed

without the SPI ‘‘A’’, then the request

for a refund must be in writing. Further,

all non-ABI filers must request refunds

in writing. Instructions on how to

request a refund in writing will be

issued if the GSP is renewed with

retroactive effect.

Informal Entries

Refunds on informal entries filed

through the ABI with the SPI ‘‘A’’

designation will be processed in

accordance with the automatic refund

procedure outlined above.

Baggage declarations and non-ABI

informals

When merchandise is presented for

clearance, travelers and importers will

be advised verbally or by a written

notice that they may be eligible for a

refund of GSP duties. Travelers/

importers may write a statement directly

on their Customs declarations (CF

6059B) or informal entries (CF 363)

indicating their desire for a refund.

Then should the GSP be renewed with

retroactive effect, no further action need

be taken by the importer to request a

refund. Failure to request a refund at

this time and in this manner does not

operate to bar a written request in the

future.

Mail entries

Should the GSP be renewed with

retroactive effect, those addressees who

received GSP eligible merchandise

(identified on the CF 3419A, (Mail

Entry)) may be eligible for a refund of

GSP duties and should submit a

separate written claim for a refund. The

request for the refund and a copy of the

CF 3419A should be submitted to the

appropriate International Mail Branch

identified at the bottom right-hand

corner of the CF 3419A. (The copy of

the CF 3419A must be included with the

request, as the information contained on

the form will be the only record of the

GSP merchandise entered and whether

the duties and fees were paid).

Dated: June 10, 1998.

Louis E. Samenfink,

Acting Assistant Commissioner, Field

Operations.

[FR Doc. 98–15883 Filed 6–15–98; 8:45 am]

BILLING CODE 4820–02–P

DEPARTMENT OF THE TREASURY

Internal Revenue Service

[FI–3–91]

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,

Public Law 104–13 (44 U.S.C.

3506(c)(2)(A)). Currently, the IRS is

soliciting comments concerning an

existing final regulation, FI–3–91 (TD

8456), Capitalization of Certain Policy

Acquisition Expenses (§§ 1.848–2(g)(8),

1.848–2(h)(3), and 1.848–2(i)(4)).

DATES: Written comments should be

received on or before August 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: Capitalization of Certain Policy

Acquisition Expenses.

OMB Number: 1545–1287.

Regulation Project Number: FI–3–91.

Abstract: Internal Revenue Code

section 848 provides that insurance

companies must capitalize ‘‘specified

policy acquisition expenses.’’ In lieu of

identifying the categories of expenses

that must be capitalized, section 848

requires that a company capitalize an

amount of otherwise deductible

expenses equal to specified percentages

of net premiums with respect to certain

types of insurance contracts. Insurance

companies that enter into reinsurance

agreements must determine the amounts

to be capitalized under those

agreements consistently. This regulation

provides elections to permit the parties

to a reinsurance agreement to shift the

burden of capitalization for their mutual

benefit.

Current Actions: There is no change to

this existing regulation.

Type of Review: Extension of a

currently approved collection.

Affected Public: Business or other forprofit organizations.

Estimated Number of Respondents:

2,070.

Estimated Time Per Respondent: 1

hour.

Estimated Total Annual Burden

Hours: 2,070.

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
Federal Register / Vol. 63, No. 115 /Tuesday, June 16, 1998 / Notices 32913

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: June 10, 1998.

Garrick R. Shear,

IRS Reports Clearance Officer.

[FR Doc. 98–15991 Filed 6–15–98; 8:45 am]

BILLING CODE 4830–01–U

DEPARTMENT OF THE TREASURY

Internal Revenue Service

[INTL–952–86]

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,

Public Law 104–13 (44 U.S.C.

3506(c)(2)(A)). Currently, the IRS is

soliciting comments concerning an

existing notice of proposed rulemaking

and temporary regulation, INTL–952–86

(TD 8228), Allocation and

Apportionment of Interest Expense and

Certain Other Expenses (§§ 1.861–9T,

and 1.861–12T).

DATES: Written comments should be

received on or before August 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 regulations should be

directed to Carol Savage, (202) 622–

3945, Internal Revenue Service, room

5569, 1111 Constitution Avenue NW.,

Washington, DC 20224.

SUPPLEMENTARY INFORMATION:

Title: Allocation and Apportionment

of Interest Expense and Certain Other

Expenses.

OMB Number: 1545–1072.

Regulation Project Number: INTL–

952–86.

Abstract: Section 864(e) of the

Internal Revenue Code provides rules

concerning the allocation and

apportionment of interest and certain

other expenses to foreign source income

for purposes of computing the foreign

tax credit limitation. These regulations

provide for the affirmative election of

either the gross income method or the

asset method of apportionment in the

case of a controlled foreign corporation.

Current Actions: There is no change to

these existing regulations.

Type of Review: Extension of a

currently approved collection.

Affected Public: Individuals or

households, and business or other forprofit organizations.

Estimated Number of Respondents/

Recordkeepers: 15,000.

Estimated Time Per Respondent/

Recordkeeper: 15 minutes.

Estimated Total Annual Reporting/

Recordkeeping Hours: 3,750.

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: June 9, 1998.

Garrick R. Shear,

IRS Reports Clearance Officer.

[FR Doc. 98–15992 Filed 6–15–98; 8:45 am]

BILLING CODE 4830–01–U

DEPARTMENT OF THE TREASURY

Internal Revenue Service

[Regulation Section 1.6001–1]

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,

Public Law 104–13 (44 U.S.C.

3506(c)(2)(A)). Currently, the IRS is

soliciting comments concerning an

existing final regulation, regulation

section 1.6001–1, Records.

DATES: Written comments should be

received on or before August 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 regulation section should

be directed to Carol Savage, (202) 622–

3945, Internal Revenue Service, room

5569, 1111 Constitution Avenue NW.,

Washington, DC 20224.

SUPPLEMENTARY INFORMATION:

Title: Records.

OMB Number: 1545–1156.

Regulation Project Number:

Regulation section 1.6001–1.