[Federal Register Volume 60, Number 175 (Monday, September 11, 1995)]
[Notices]
[Page 47198]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: X95-10911]



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DEPARTMENT OF THE TREASURY


Public Information Collection Requirements Submitted to OMB for 
Review

August 28, 1995.
    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 1980, Public Law 96-511. 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: 1545-0096.
    Form Number: IRS Forms 1042 and 1042-S.
    Type of Review: Extension.
    Title: Annual withholding Tax Return for U.S. Source Income of 
Foreign Persons, Foreign Person's U.S. Source Income Subject to 
Withholding.
    Description: Used by withholding agents to report tax withheld at 
source in payment of certain income paid to nonresident alien 
individuals, foreign partnerships, or foreign corporations. The Service 
uses this information to verify that the correct amount of tax has been 
withheld and paid to the U.S.
    Respondents: Business or other for-profit, Individuals or 
households.
    Estimated Number of Respondents/Recordkeepers: 22,000.
    Estimated Burden Hours Per Respondent/Recordkeeper:

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                                                        Form 1042                           Form 1042-S         
----------------------------------------------------------------------------------------------------------------
Recordkeeping..........................  6 hr., 28 min..........................  5 hr., 1 min.                 
Learning about the law or the form.....  1 hr., 56 min..........................  3 hr., 21 min.                
Preparing the form.....................  3 hr., 59 min..........................  4 hr., 31 min.                
Copying, assembling, and sending the      32 min................................  16 min.                       
 form to the IRS.                                                                                               
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    Frequency of Response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 21,324,020 hours.

    OMB Number: 1545-0619.
    Form Number: IRS Form 6765.
    Type of Review: Revision.
    Title: Credit for Increasing Research Activities.
    Description: Internal Revenue Code (IRC) section 38 allows a credit 
allows a credit against income tax (determined under IRC section 41) 
for an increased in research activities in a trade or business. Form 
6765 is used by businesses and individuals engaged in a trade or 
business to figure and report the credit. The data is used to verify 
that the credit claimed is correct.
    Respondents: Business or other for-profit.
    Estimated Number of Respondents/Recordkeepers: 13,000.
    Estimated Burden Hours Per Respondent/Recordkeeper:

Recordkeeping--6 hr., 13 min.
Learning about the law or the form--1 hr., 0 min.
Preparing and sending the form to the IRS--1 hr., 8 min.

    Frequency of Response: On Occasion.
    Estimated Total Reporting/Recordkeeping Burden: 108,680 hours.
    Clearance Officer: Garrick Shear (202) 622-3869, Internal Revenue 
Service room 5571, 1111 Constitution Avenue, N.W. Washington, DC 20224
    OMB Reviewer: Milo Sunderhauf, (202) 395-7340, Office of Management 
and Budget, Room 10226, New Executive Office Building, Washington, DC 
20503.
 Lois K. Holland,
Departmental Reports Management Officer.
[FR. Doc. 95-22394 Filed 9-8; 8:45 am]
Billing Code 4830-01-M