Federal Register / Vol. 66, No. 98 / Monday, May 21, 2001 / Notices 28031

D. Defaults not involving

merchandise; modified CF 5955A.

Defaults not involving merchandise

shall be processed in accordance with

the following guidelines.

1. Modified CF 5955A. Notices of

liquidated damages incurred may be

issued on a modified CF 5955A. The

modified form shall specify two options

from which the petitioner may chose to

resolve the demand.

a. Option 1. He may pay a specified

sum within 60 days, and the case will

be closed. By electing this option in lieu

of petitioning, he waives his right to file

a petition. He may, however, file a

supplemental petition, if he does so in

accordance with the Customs

Regulations and has some new fact or

information which merits consideration

in accordance with these guidelines.

b. Option 2. Petition for relief. The

bond principal or surety may file a

petition for relief. By filing a petition for

relief, the petitioner will no longer be

afforded the Option 1 mitigation

amount. The port director shall grant

full relief when the petitioner

demonstrates that the violation did not

occur. If the petitioner fails to

demonstrate that the violation did not

occur, the port director may cancel the

claim upon payment of an amount no

less than $100 greater than the Option

1 amount.

2. Maximum assessments. In cases

involving violations which do not

involve merchandise which are assessed

at $1,000 for each business day that the

violation continues, a maximum of

$10,000 shall be assessed for any one

such continuing violation unless the

port director can articulate a legitimate

enforcement purpose for exceeding said

limit. These claims shall be cancelled in

conformance with the terms of these

guidelines.

3. Clerical error. If the breach resulted

from clerical error, the claim may be

cancelled without payment.

4. Negligence. If the breach resulted

from negligence, the claim may be

cancelled upon payment of an amount

between $100 and $250 per default

actually assessed, depending on the

presence of aggravating or mitigating

factors. For example, if a document is

filed 100 days late, Customs, by policy,

will generally limit the assessment to

$10,000. Mitigation will be based on the

$10,000 actual assessment and not relate

to the $100,000 potential assessment.

5. Intentional breach. If the breach

was intentional, no relief shall be

granted.

6. Violator disclosing violation before

Customs discovery. If the violator comes

forward and discloses the violation to

Customs prior to Customs discovery of

the violation, whether or not the

violation is a continuing one, the claim

for liquidated damages may be

cancelled, at the discretion of the

appropriate Customs officer, upon

payment of the amount of $50.

E. Cancellation of claims for late

payment of the annual fee.

1. If the late payment resulted from

clerical error or mistake, the claim may

be cancelled upon payment of the

amount due but not paid.

2. If the late payment resulted from

negligence, cancel the claim upon

payment of the amount due but not paid

plus the following percent of that

amount for each day payment is in

arrears:

a. First seven calendar days—not less

than one-third of one percent nor more

than three-fourths of one percent per

day.

b. Second seven calendar days—not

less than one and one-third percent nor

more than one and three-fourths percent

per day.

c. After the fourteenth calendar day—

not less than two and one-third percent

nor more than two and three-fourths

percent per day.

3. If the late payment was intentional,

no relief shall be granted.

[FR Doc. 01–12662 Filed 5–18–01; 8:45 am]

BILLING CODE 4820–02–P

DEPARTMENT OF THE TREASURY

Internal Revenue Service

[INTL–29–91]

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, INTL–29–91

(TD 8556), Computation and

Characterization of Income and Earnings

and Profits Under the Dollar

Approximate Separate Transactions

Method of Accounting (DASTM)

(§ 1.985–3).

DATES: Written comments should be

received on or before July 20, 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 information collection

should be directed to Larnice Mack,

(202) 622–3179, Internal Revenue

Service, room 5244, 1111 Constitution

Avenue NW., Washington, DC 20224.

SUPPLEMENTARY INFORMATION:

Title: Computation and

Characterization of Income and Earnings

and Profits Under the Dollar

Approximate Separate Transactions

Method of Accounting (DASTM).

OMB Number: 1545–1051.

Regulation Project Number: INTL–29–

91.

Abstract: This regulation provides

that taxpayers operating in

hyperinflationary currencies must use

the United States dollar as their

functional currency and compute

income using the dollar approximate

separate transactions 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.

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 Responses: 700.

Estimated Time Per Respondent: 1

hour, 26 minutes.

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

28032 Federal Register / Vol. 66, No. 98 / Monday, May 21, 2001 / Notices

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: May 10, 2001.

Garrick R. Shear,

IRS Reports Clearance Officer.

[FR Doc. 01–12632 Filed 5–18–01; 8:45 am]

BILLING CODE 4830–01–P

DEPARTMENT OF THE TREASURY

Internal Revenue Service

Proposed Collection; Comment

Request for Form 4835

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

4835, Farm Rental Income and

Expenses.

DATES: Written comments should be

received on or before July 20, 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 Allan Hopkins,

(202) 622–6665, Internal Revenue

Service, room 5244, 1111 Constitution

Avenue NW., Washington, DC 20224.

SUPPLEMENTARY INFORMATION:

Title: Farm Rental Income and

Expenses.

OMB Number: 1545–0187.

Form Number: 4835.

Abstract: Form 4835 is used by

landowners (or sub-lessors) to report

farm income based on crops or livestock

produced by a tenant when the

landowner (or sub-lessor) does not

materially participate in the operation

or management of the farm. The

information on the form is used by the

IRS to determine whether the proper

amount of farm rental income received

by the taxpayer has been reported.

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 and

farms.

Estimated Number of Respondents:

407,719.

Estimated Time Per Respondent: 4

hrs., 24 min.

Estimated Total Annual Burden

Hours: 1,793,964.

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: May 11, 2001.

Garrick R. Shear,

IRS Reports Clearance Officer.

[FR Doc. 01–12633 Filed 5–18–01; 8:45 am]

BILLING CODE 4830–01–U

DEPARTMENT OF THE TREASURY

Internal Revenue Service

Proposed Collection; Comment

Request for Form 8829

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

8829, Expenses for Business Use of Your

Home.

DATES: Written comments should be

received on or before July 20, 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 Allan Hopkins,

(202) 622–6665, Internal Revenue

Service, room 5244, 1111 Constitution

Avenue NW., Washington, DC 20224.

SUPPLEMENTARY INFORMATION:

Title: Expenses for Business Use of

Your Home.

OMB Number: 1545–1266.

Form Number: 8829.

Abstract: Internal Revenue Code

section 280A limits the deduction for

business use of a home to the gross

income from the business use minus

certain business deductions. Amounts

not allowed due to the limitations can

be carried over to the following year.

Form 8829 is used to compute the

allowable deduction and any carryover,

and the IRS uses the information to

verify that these amounts are properly

computed.

Current Actions: There are no changes

being made to the form at this time.

Type of Review: Extension of a

currently approved collection.