Federal Register / Vol. 63, No. 141 /Thursday, July 23, 1998 / Notices 39637

income using the dollar approximate

separate transaction method (DASTM).

Small taxpayers may elect an alternate

method by which to compute income or

loss. For prior taxable years in which

income was computed using the profit

and loss method, taxpayers may elect to

recompute their income using DASTM.

Respondents: Business or other forprofit.

Estimated Number of Respondents:

700.

Estimated Burden Hours Per

Respondent: 1 hour, 26 minutes.

Frequency of Response: Other (onetime election).

Estimated Total Reporting Burden:

1,000 hours.

OMB Number: 1545–1056.

Regulation Project Number: REG–

209020–86 (formerly INTL–61–86)

NPRM and Temporary.

Type of Review: Extension.

Title: Foreign Tax Credit; Notification

and Adjustment Due to Foreign Tax

Redeterminations.

Description: Section 905(c) requires

notification and redetermination of a

taxpayer’s United States tax liability to

account for the effect of a foreign tax

redetermination, in certain cases. The

reporting requirements will enable the

Internal Revenue Service to recompute

a taxpayer’s United States tax liability.

Respondents: Individuals or

households, Business or other for-profit.

Estimated Number of Respondents:

10,000.

Estimated Burden Hours Per

Respondent: 1 hour.

Frequency of Response: On occasion.

Estimated Total Reporting Burden:

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. 98–19645 Filed 7–22–98; 8:45 am]

BILLING CODE 4810–01–P

DEPARTMENT OF THE TREASURY

Internal Revenue Service

[PS–89–91]

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, PS–89–91 (TD 8622), Exports

of Chemicals That Deplete the Ozone

Layer; Special Rules for Certain Medical

Uses of Chemicals That Deplete the

Ozone Layer (§§ 52.4682–2(b), 52.4682–

2(d), 52.4682–5(d), and 52.4682–5(f)).

DATES: Written comments should be

received on or before September 21,

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: Exports of Chemicals That

Deplete the Ozone Layer; Special Rules

for Certain Medical Uses of Chemicals

That Deplete the Ozone Layer.

OMB Number: 1545–1361.

Regulation Project Number: PS–89–

91.

Abstract: This regulation provides

reporting and recordkeeping rules

relating to taxes imposed on exports of

ozone-depleting chemicals (ODCs),

taxes imposed on ODCs used as medical

sterilants or propellants in metered-dose

inhalers, and floor stocks taxes on

ODCs. The rules affect persons who

manufacture, import, export, sell, or use

ODCs.

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 Recordkeepers:

705.

Estimated Time Per Recordkeeper: 12

minutes.

Estimated Total Annual

Recordkeeping Burden Hours: 141.

Estimated Number of Respondents:

600.

Estimated Time Per Respondent: 6

minutes.

Estimated Total Annual Reporting

Burden Hours: 60.

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: July 20, 1998.

Garrick R. Shear,

IRS Reports Clearance Officer.

[FR Doc. 98–19683 Filed 7–22–98; 8:45 am]

BILLING CODE 4830–01–U

DEPARTMENT OF THE TREASURY

Internal Revenue Service

[PS–276–76]

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