31834 Federal Register / Vol. 63, No. 111 /Wednesday, June 10, 1998 / Notices

Consequences of Federal Financial

Assistance.

DATES: Written comments should be

received on or before August 10, 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 notice should be directed

to Carol Savage, (202) 622–3945,

Internal Revenue Service, room 5569,

1111 Constitution Avenue NW.,

Washington, DC 20224.

SUPPLEMENTARY INFORMATION:

Title: Treatment of Acquisition of

Certain Financial Institutions; Tax

Consequences of Federal Financial

Assistance.

OMB Number: 1545–1141.

Notice Number: Notice 89–102.

Abstract: Section 597 of the Internal

Revenue Code provides that the

Secretary of the Treasury shall provide

guidance concerning the tax

consequences of Federal financial

assistance received by certain financial

institutions. Notice 89–102 provides

that qualifying financial institutions that

receive Federal financial assistance

prior to a planned sale of their assets or

their stock to another institution may

elect to defer payment of any net tax

liability attributable to the assistance.

Such financial institutions must file a

statement describing the assistance

received, the date of receipt, and any

amounts deferred.

Current Actions: There are no changes

being made to the notice at this time.

Type of Review: Extension of a

currently approved collection.

Affected Public: Business or other forprofit organizations.

Estimated Number of Respondents:

250.

Estimated Time Per Respondent: 30

minutes.

Estimated Total Annual Burden

Hours: 125.

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 3, 1998.

Garrick R. Shear,

IRS Reports Clearance Officer.

[FR Doc. 98–15342 Filed 6–9–98; 8:45 am]

BILLING CODE 4830–01–U

DEPARTMENT OF THE TREASURY

Internal Revenue Service

[PS–74–89]

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, PS–74–89 (TD

8282), Election of Reduced Research

Credit (§ 1.280C–4).

DATES: Written comments should be

received on or before August 10, 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 should be

directed to Carol Savage, (202) 622–

3945, Internal Revenue Service, room

5569, 1111 Constitution Avenue NW.,

Washington, DC 20224.

SUPPLEMENTARY INFORMATION:

Title: Election of Reduced Research

Credit.

OMB Number: 1545–1155.

Regulation Project Number: PS–74–

89.

Abstract: This regulation relates to the

manner of making an election under

section 280C(c)(3) of the Internal

Revenue Code. This election enables a

taxpayer to claim a reduced income tax

credit for increasing research activities

and thereby avoid a reduction of the

section 174 deduction for research and

experimental expenditures.

Current Actions: There is no change to

this existing regulation.

Type of Review: Extension of a

currently approved collection.

Affected Public: Individuals and

business or other for-profit

organizations.

Estimated Number of Respondents:

200.

Estimated Time Per Respondent: 15

minutes.

Estimated Total Annual Burden

Hours: 50.

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
Federal Register / Vol. 63, No. 111 /Wednesday, June 10, 1998 / Notices 31835

technology; and (e) estimates of capital

or start-up costs and costs of operation,

maintenance, and purchase of services

to provide information.

Approved: June 4, 1998.

Garrick R. Shear,

IRS Reports Clearance Officer.

[FR Doc. 98–15343 Filed 6–9–98; 8:45 am]

BILLING CODE 4830–01–U

DEPARTMENT OF THE TREASURY

Internal Revenue Service

Proposed Collection; Comment

Request for Revenue Ruling 98–30

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

Revenue Ruling 98–30, Negative

Election in a Section 401(k) Plan.

DATES: Written comments should be

received on or before August 10, 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 revenue ruling should be

directed to Carol Savage, (202) 622–

3945, Internal Revenue Service, room

5569, 1111 Constitution Avenue NW.,

Washington, DC 20224.

SUPPLEMENTARY INFORMATION:

Title: Negative Election in a Section

401(k) Plan.

OMB Number: 1545–1605.

Revenue Ruling Number: Revenue

Ruling 98–30.

Abstract: Revenue Ruling 98–30

describes certain criteria that must be

met before an employee’s compensation

can be contributed to an employer’s

section 401(k) plan in the absence of an

affirmative election by the employee.

Generally, before an employer can

automatically include its employees in

the employer’s section 401(k) plan, the

employees must be notified by the

employer that they can elect out and

they must be given a reasonable period

in which to do so.

Current Actions: There are no changes

being made to the revenue ruling at this

time.

Type of Review: Extension of a

currently approved collection.

Affected Public: Business or other forprofit organizations, and not-for-profit

institutions.

Estimated Number of Respondents:

1,000.

Estimated Time Per Respondent: 1

hour.

Estimated Total Annual Burden

Hours: 1,000.

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 3, 1998.

Garrick R. Shear,

IRS Reports Clearance Officer.

[FR Doc. 98–15344 Filed 6–9–98; 8:45 am]

BILLING CODE 4830–01–U

DEPARTMENT OF THE TREASURY

Internal Revenue Service

Proposed Collection; Comment

Request for Form 3903

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

3903, Moving Expenses.

DATES: Written comments should be

received on or before August 10, 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: Moving Expenses.

OMB Number: 1545–0062.

Form Number: 3903.

Abstract: Internal Revenue Code

section 217 requires itemization of

various allowable moving expenses.

Form 3903 is used to compute the

moving expense deduction and is filed

with Form 1040 by individuals claiming

employment related moves. The data is

used to help verify that the expenses are

deductible and that the deduction is

computed correctly.

Current Actions: Forms 3903 and

3903–F are being combined to reduce

duplication and to simplify the filing

procedure, requiring only one form to

compute deductible moving expenses

for moves both inside the U.S. and

outside the U.S. The lines on the prior

version of Form 3903 dealing with the

distance test have been moved to the

instructions as a worksheet and the line

numbers on the form have been changed

accordingly. Instructions have been

added to reflect the fact that the form

can be used for moves inside and

outside the U.S. Also, instructions have

been added relating to Form 2555,