22072 Federal Register / Vol. 66, No. 85 / Wednesday, May 2, 2001 / Notices

Title: Return of U.S. Persons With

Respect to Certain Foreign Partnerships.

Description: The Taxpayer Relief Act

of 1997 significantly modified the

information reporting requirements with

respect to foreign partnerships. The Act

made the following three changes (1)

Expanded section 6038B to require U.S.

persons transferring property to foreign

partnerships in certain transactions to

report those transfers; (2) expanded

section 6038 to require certain U.S.

Partners of controlled foreign

partnerships to report information about

the partnerships; and (3) modified the

reporting required under section 6046A

with respect to acquisitions and

dispositions of foreign partnership

interests. Form 8865 is used by U.S.

persons to fulfill their reporting

obligations under sections 6038B, 6038,

and 6046A.

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

Estimated Number of Respondents/

Recordkeepers: 5,000.

Estimated Burden Hours Per

Respondent/Recordkeeper:

Form/Schedule Recordkeeping Learning about the law or the

form

Preparing, copying, assembling

and sending the form to the IRS

8865 ................................................ 96 hr., 45 min ............................... 21 hr., 32 min ............................... 35 hr., 59 min.

Schedule K–1 (Form 8865) ............. 30 hr., 7 min ................................. 9 hr., 39 min ................................. 17 hr., 45 min.

Schedule O (Form 8865) ................ 13 hr., 9 min ................................. 2 hr., 22 min ................................. 2 hr., 42 min.

Schedule P (Form 8865) ................. 5 hr., 15 min ................................. 30 min .......................................... 36 min.

Frequency of Response: Annually.

Estimated Total Reporting/

Recordkeeping Burden: 444,600.

Clearance Officer: Garrick Shear,

Internal Revenue Service, Room 5244,

1111 Constitution Avenue, NW.,

Washington, DC 20224.

OMB Reviewer: Alexander T. Hunt

(202) 395–7860, Office of Management

and Budget, Room 10202, New

Executive Office Building, Washington,

DC 20503.

Lois K. Holland,

Departmental Reports Management Officer.

[FR Doc. 01–10961 Filed 5–1–01; 8:45 am]

BILLING CODE 4830–01–U

DEPARTMENT OF THE TREASURY

Internal Revenue Service

Proposed Collection; Comment

Request for Form 4852

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

4852, Substitute for Form W–2, Wage

and Tax Statement, or Form 1099–R,

Distributions From Pensions, Annuities,

Retirement or Profit-Sharing Plans,

IRAs, Insurance Contracts, Etc.

DATES: Written comments should be

received on or before July 2, 2001 to be

assured of consideration.

ADDRESSES: Direct all written comments

to Garrick R. Shear, Internal Revenue

Service, room 5244, 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 Carol Savage,

(202) 622–3945, Internal Revenue

Service, room 5242, 1111 Constitution

Avenue NW., Washington, DC 20224.

SUPPLEMENTARY INFORMATION:

Title: Substitute for Form W–2, Wage

and Tax Statement, or Form 1099–R,

Distributions From Pensions, Annuities,

Retirement or Profit-Sharing Plans,

IRAs, Insurance Contracts, Etc.

OMB Number: 1545–0458.

Form Number: Form 4852.

Abstract: In the absence of a Form W–

2 or 1099R from the employer or payer,

Form 4852 is used by the taxpayer to

estimate gross wages, pensions,

annuities, retirement or IRA payments

received as well as income or FICA tax

withheld during the year. The form is

attached to the tax return so the return

can be processed through normal

channels the same as those with Forms

W–2 or 1099R attached.

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: Individuals or

households, business or other for-profit

organizations, farms, and Federal, state,

local or tribal governments.

Estimated Number of Responses:

1,500,000.

Estimated Time Per Response: 18

minutes.

Estimated Total Annual Burden

Hours: 450,000.

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: April 25, 2001.

Garrick R. Shear,

IRS Reports Clearance Officer.

[FR Doc. 01–10870 Filed 5–1–01; 8:45 am]

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